Accumulated Other Comprehensive Income (Loss) (Tables)

6 Months Ended

Jun. 30, 2022

Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]

Schedule of Accumulated other comprehensive income (loss)

Changes in Accumulated other comprehensive income (loss) included in the Consolidated Statements of Changes in Shareholder’s Equity consisted of the following:

(Millions of dollars)	Three Months Ended June 30,				Six Months Ended June 30,
	2022		2021		2022		2021
Foreign currency translation
Balance at beginning of period	$	(754)	$	(670)	$	(762)	$	(551)
Gains (losses) on foreign currency translation	(217)		62		(198)		(32)
Less: Tax provision/(benefit)	31		(7)		42		18
Net gains (losses) on foreign currency translation	(248)		69		(240)		(50)
Other comprehensive income (loss), net of tax	(248)		69		(240)		(50)
Balance at end of period	$	(1,002)	$	(601)	$	(1,002)	$	(601)
Derivative financial instruments
Balance at beginning of period	$	4	$	(33)	$	(12)	$	(44)
Gains (losses) deferred	342		(37)		371		82
Less: Tax provision/(benefit)	57		(9)		63		16
Net gains (losses) deferred	285		(28)		308		66
(Gains) losses reclassified to earnings	(335)		38		(345)		(66)
Less: Tax (provision)/benefit	(57)		9		(60)		(12)
Net (gains) losses reclassified to earnings	(278)		29		(285)		(54)
Other comprehensive income (loss), net of tax	7		1		23		12
Balance at end of period	$	11	$	(32)	$	11	$	(32)
Total Accumulated other comprehensive income (loss) at end of period	$	(991)	$	(633)	$	(991)	$	(633)