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Equipment on Operating Leases
 12 Months Ended
Dec. 31, 2025
Leases [Abstract]  
Equipment on Operating Leases EQUIPMENT ON OPERATING LEASES
 
The carrying amount of Equipment on operating leases, net in the Consolidated Statements of Financial Position as of December 31, was as follows: 
(Millions of dollars)20252024
Equipment on operating leases, at cost$4,401 $4,207 
Less: Accumulated depreciation(1,474)(1,427)
Equipment on operating leases, net$2,927 $2,780 
 
Our lease agreements may include options for the lessee to purchase the underlying asset at the end of the lease term for either a stated fixed price or fair market value.

At December 31, 2025, rental payments to be received for equipment on operating leases were as follows: 
(Millions of dollars)
20262027202820292030ThereafterTotal
$745 $503 $324 $153 $72 $21 $1,818