Short-Term Borrowings (Tables)

12 Months Ended

Dec. 31, 2023

Short-Term Debt [Abstract]

Short-term borrowings

Short-term borrowings outstanding as of December 31, were comprised of the following: 

(Millions of dollars)	2023			2022
	Balance		Weighted Avg. Rate	Balance		Weighted Avg. Rate
Commercial paper, net	$	4,069	5.2%	$	5,455	4.2%
Bank borrowings and other	330		10.0%	234		11.4%
Variable denomination floating rate demand notes	244		5.2%	265		3.4%
Total	$	4,643		$	5,954