Accumulated Other Comprehensive Income (Loss) (Tables)

6 Months Ended

Jun. 30, 2023

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,
	2023		2022		2023		2022
Foreign currency translation
Balance at beginning of period	$	(1,026)	$	(754)	$	(1,068)	$	(762)
Gains (losses) on foreign currency translation	(33)		(217)		—		(198)
Less: Tax provision/(benefit)	—		31		(9)		42
Net gains (losses) on foreign currency translation	(33)		(248)		9		(240)
Other comprehensive income (loss), net of tax	(33)		(248)		9		(240)
Balance at end of period	$	(1,059)	$	(1,002)	$	(1,059)	$	(1,002)
Derivative financial instruments
Balance at beginning of period	$	22	$	4	$	21	$	(12)
Gains (losses) deferred	30		342		(5)		371
Less: Tax provision/(benefit)	7		57		(2)		63
Net gains (losses) deferred	23		285		(3)		308
(Gains) losses reclassified to earnings	(32)		(335)		4		(345)
Less: Tax (provision)/benefit	(8)		(57)		1		(60)
Net (gains) losses reclassified to earnings	(24)		(278)		3		(285)
Other comprehensive income (loss), net of tax	(1)		7		—		23
Balance at end of period	$	21	$	11	$	21	$	11
Total Accumulated other comprehensive income (loss) at end of period	$	(1,038)	$	(991)	$	(1,038)	$	(991)