Fair Value Disclosures (Tables)

6 Months Ended

Jun. 30, 2026

Fair Value Disclosures [Abstract]

Summary of Fair Value of Financial Instruments

Fair values of our financial instruments not carried at fair value were as follows:

(Millions of dollars)	June 30, 2026				December 31, 2025
	Carrying Amount		Fair Value		Carrying Amount		Fair Value		Fair Value Levels	Reference
Assets
Finance receivables, net (excluding finance leases(1))	$	27,676	$	27,230	$	25,346	$	25,012	3	Note 3
Liabilities
Long-term debt	$	29,410	$	29,415	$	27,103	$	27,204	2

(1)    Represents finance leases and failed sale leasebacks of $7.13 billion and $7.47 billion as of June 30, 2026 and December 31, 2025, respectively.