Accumulated Other Comprehensive Income (Loss) (Tables)

9 Months Ended

Sep. 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 September 30,				Nine Months Ended September 30,
	2023		2022		2023		2022
Foreign currency translation
Balance at beginning of period	$	(1,059)	$	(1,002)	$	(1,068)	$	(762)
Gains (losses) on foreign currency translation	(89)		(258)		(89)		(456)
Less: Tax provision/(benefit)	13		30		4		72
Net gains (losses) on foreign currency translation	(102)		(288)		(93)		(528)
Other comprehensive income (loss), net of tax	(102)		(288)		(93)		(528)
Balance at end of period	$	(1,161)	$	(1,290)	$	(1,161)	$	(1,290)
Derivative financial instruments
Balance at beginning of period	$	21	$	11	$	21	$	(12)
Gains (losses) deferred	79		302		74		673
Less: Tax provision/(benefit)	20		95		18		158
Net gains (losses) deferred	59		207		56		515
(Gains) losses reclassified to earnings	(85)		(311)		(81)		(656)
Less: Tax (provision)/benefit	(22)		(99)		(21)		(159)
Net (gains) losses reclassified to earnings	(63)		(212)		(60)		(497)
Other comprehensive income (loss), net of tax	(4)		(5)		(4)		18
Balance at end of period	$	17	$	6	$	17	$	6
Total Accumulated other comprehensive income (loss) at end of period	$	(1,144)	$	(1,284)	$	(1,144)	$	(1,284)