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Accumulated Other Comprehensive Income (Loss) (Tables) | 3 Months Ended
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Mar. 31, 2025
Equity [Abstract] |
Changes in Accumulated other comprehensive income (loss), net of tax | We present comprehensive income and its components in the Consolidated Statement of Comprehensive Income. Changes in the balances for each component of AOCI were as follows:
|  |  | Three Months Ended March 31,
(Millions of dollars) |  |  |  |  | 2025 |  | 2024
Foreign currency translation: |  |  |  |  |  |  |
Beginning balance |  |  |  |  | $ | (2,310) |  |  | $ | (1,782) |
Gains (losses) on foreign currency translation |  |  |  |  | 188 |  |  | (213) |
Less: Tax provision /(benefit) |  |  |  |  | — |  |  | 11 |
Net gains (losses) on foreign currency translation |  |  |  |  | 188 |  |  | (224) |
(Gains) losses reclassified to earnings |  |  |  |  | — |  |  | (33) |
Less: Tax provision /(benefit) |  |  |  |  | — |  |  | — |
Net (gains) losses reclassified to earnings |  |  |  |  | — |  |  | (33) |
Other comprehensive income (loss), net of tax |  |  |  |  | 188 |  |  | (257) |
Ending balance |  |  |  |  | $ | (2,122) |  |  | $ | (2,039) |
Pension and other postretirement benefits |  |  |  |  |  |  |
Beginning balance |  |  |  |  | $ | (61) |  |  | $ | (49) |
Current year prior service credit (cost) |  |  |  |  | — |  |  | — |
Less: Tax provision /(benefit) |  |  |  |  | — |  |  | — |
Net current year prior service credit (cost) |  |  |  |  | — |  |  | — |
Amortization of prior service (credit) cost |  |  |  |  | (1) |  |  | (3) |
Less: Tax provision /(benefit) |  |  |  |  | — |  |  | — |
Net amortization of prior service (credit) cost |  |  |  |  | (1) |  |  | (3) |
Other comprehensive income (loss), net of tax |  |  |  |  | (1) |  |  | (3) |
Ending balance |  |  |  |  | $ | (62) |  |  | $ | (52) |
Derivative financial instruments |  |  |  |  |  |  |
Beginning balance |  |  |  |  | $ | (46) |  |  | $ | 67 |
Gains (losses) deferred |  |  |  |  | 76 |  |  | 106 |
Less: Tax provision /(benefit) |  |  |  |  | 18 |  |  | 28 |
Net gains (losses) deferred |  |  |  |  | 58 |  |  | 78 |
(Gains) losses reclassified to earnings |  |  |  |  | (1) |  |  | (106) |
Less: Tax provision /(benefit) |  |  |  |  | — |  |  | (28) |
Net (gains) losses reclassified to earnings |  |  |  |  | (1) |  |  | (78) |
Other comprehensive income (loss), net of tax |  |  |  |  | 57 |  |  | — |
Ending balance |  |  |  |  | $ | 11 |  |  | $ | 67 |
Available-for-sale securities |  |  |  |  |  |  |
Beginning balance |  |  |  |  | $ | (54) |  |  | $ | (56) |
Gains (losses) deferred |  |  |  |  | 26 |  |  | (17) |
Less: Tax provision /(benefit) |  |  |  |  | 6 |  |  | (3) |
Net gains (losses) deferred |  |  |  |  | 20 |  |  | (14) |
(Gains) losses reclassified to earnings |  |  |  |  | 2 |  |  | 1 |
Less: Tax provision /(benefit) |  |  |  |  | — |  |  | — |
Net (gains) losses reclassified to earnings |  |  |  |  | 2 |  |  | 1 |
Other comprehensive income (loss), net of tax |  |  |  |  | 22 |  |  | (13) |
Ending balance |  |  |  |  | $ | (32) |  |  | $ | (69) |
Total AOCI Ending Balance at March 31, |  |  |  |  | $ | (2,205) |  |  | $ | (2,093) |

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- Definition Tabular disclosure of the components of accumulated other comprehensive income (loss). + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 220 -SubTopic 10 -Section 45 -Paragraph 14A -Publisher FASB -URI https://asc.fasb.org/1943274/2147482790/220-10-45-14A Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 830 -SubTopic 30 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Publisher FASB -URI https://asc.fasb.org/1943274/2147481674/830-30-50-1 Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 830 -SubTopic 30 -Name Accounting Standards Codification -Section 45 -Paragraph 20 -Publisher FASB -URI https://asc.fasb.org/1943274/2147481694/830-30-45-20 + Details
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