Accumulated Other Comprehensive Income (Loss) (Tables)

12 Months Ended

Dec. 31, 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)	2023		2022		2021
Foreign currency translation
Balance at beginning of year	$	(1,068)	$	(762)	$	(551)
Gains (losses) on foreign currency translation	55		(276)		(169)
Less: Tax provision/(benefit)	(17)		30		42
Net gains (losses) on foreign currency translation	72		(306)		(211)
Other comprehensive income (loss), net of tax	72		(306)		(211)
Balance at end of year	$	(996)	$	(1,068)	$	(762)
Derivative financial instruments
Balance at beginning of year	$	21	$	(12)	$	(44)
Gains (losses) deferred	(13)		421		209
Less: Tax provision/(benefit)	(3)		97		24
Net gains (losses) deferred	(10)		324		185
(Gains) losses reclassified to earnings	10		(384)		(166)
Less: Tax (provision)/benefit	3		(93)		(13)
Net (gains) losses reclassified to earnings	7		(291)		(153)
Other comprehensive income (loss), net of tax	(3)		33		32
Balance at end of year	$	18	$	21	$	(12)
Total Accumulated other comprehensive income (loss) at end of year	$	(978)	$	(1,047)	$	(774)