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Fair Value Measurements (Tables)
6 Months Ended
Jun. 30, 2024
Fair Value Disclosures [Abstract]  
Fair values of financial instruments were as follows:
(Millions of dollars)June 30, 2024December 31, 2023
 Carrying
Amount
Fair
Value
Carrying
Amount
Fair
Value
Fair
Value
Levels
Reference
Assets
Finance receivables, net (excluding finance leases(1))
$21,483 $20,950 $20,746 $20,330 3Note 3
Liabilities
Long-term debt$23,431 $23,126 $23,612 $23,299 2
(1) Represents finance leases and failed sale leasebacks of $6.79 billion and $7.00 billion as of June 30, 2024 and December 31, 2023, respectively.