Fair Value Measurements (Tables)

6 Months Ended

Jun. 30, 2022

Fair Value Disclosures [Abstract]

Fair values of financial instruments

Fair values of our financial instruments not carried at fair value were as follows:

(Millions of dollars)	June 30, 2022				December 31, 2021
	Carrying Amount		Fair Value		Carrying Amount		Fair Value		Fair Value Levels	Reference
Assets
Finance receivables, net (excluding finance leases(1))	$	18,718	$	18,258	$	19,068	$	19,047	3	Note 3
Liabilities
Long-term debt	$	22,247	$	21,710	$	22,594	$	22,797	2

(1) Represents finance leases and failed sale leasebacks of $7.65 billion and $8.11 billion as of June 30, 2022 and December 31, 2021, respectively.