Long-Term Debt (Tables)

12 Months Ended

Dec. 31, 2023

Long-Term Debt, Unclassified [Abstract]

Long-term debt

Long-term debt outstanding as of December 31, was comprised of the following: 

(Millions of dollars)	2023			2022
	Balance		Weighted Avg. Rate	Balance		Weighted Avg. Rate
Medium-term notes	$	23,165	3.2%	$	20,821	2.2%
Unamortized discount and debt issuance costs	(34)			(37)
Fair value adjustments	(46)			(112)
Medium-term notes, net	23,085			20,672
Bank borrowings and other	527		6.6%	746		5.3%
Total	$	23,612		$	21,418

Maturities of Long-term debt outstanding (excluding fair value adjustments) in each of the next five years

Maturities of Long-term debt outstanding (excluding fair value adjustments) as of December 31, 2023, in each of the next five years, are as follows: 

(Millions of dollars)
2024	$	7,719
2025	7,811
2026	5,634
2027	2,479
2028	14