Accumulated Other Comprehensive Income (Loss)

6 Months Ended

Jun. 30, 2026

Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]

Accumulated Other Comprehensive Income (Loss)

Accumulated Other Comprehensive Income (Loss)

We present comprehensive income (loss) and its components in the Consolidated Statements of Comprehensive Income. Changes in the balances for each component of AOCI were as follows:

(Millions of dollars)	Three Months Ended June 30,				Six Months Ended June 30,
	2026		2025		2026		2025
Foreign currency translation
Balance at beginning of period	$	(949)	$	(1,168)	$	(928)	$	(1,256)
Gains (losses) on foreign currency translation	(24)		222		(45)		310
Less: Tax provision/(benefit)	—		—		—		—
Net gains (losses) on foreign currency translation	(24)		222		(45)		310
Other comprehensive income (loss), net of tax	(24)		222		(45)		310
Balance at end of period	$	(973)	$	(946)	$	(973)	$	(946)
Derivative financial instruments
Balance at beginning of period	$	2	$	12	$	(10)	$	24
Gains (losses) deferred	(16)		64		(105)		58
Less: Tax provision/(benefit)	(3)		17		(26)		16
Net gains (losses) deferred	(13)		47		(79)		42
(Gains) losses reclassified to earnings	42		(74)		146		(83)
Less: Tax (provision)/benefit	8		(20)		34		(22)
Net (gains) losses reclassified to earnings	34		(54)		112		(61)
Other comprehensive income (loss), net of tax	21		(7)		33		(19)
Balance at end of period	$	23	$	5	$	23	$	5
Total Accumulated other comprehensive income (loss) at end of period	$	(950)	$	(941)	$	(950)	$	(941)