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Accumulated Other Comprehensive Income (Loss) | 3 Months Ended
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Mar. 31, 2025
Equity [Abstract] |
Accumulated Other Comprehensive Income (Loss) | Accumulated other comprehensive income (loss) 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 The entire disclosure for comprehensive income, which includes, but is not limited to, 1) the amount of income tax expense or benefit allocated to each component of other comprehensive income, including reclassification adjustments, 2) the reclassification adjustments for each classification of other comprehensive income and 3) the ending accumulated balances for each component of comprehensive income. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 944 -SubTopic 220 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.7-04(19)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147477250/944-220-S99-1 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 220 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 2 -Subparagraph (SX 210.5-03(21)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147483621/220-10-S99-2 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 942 -SubTopic 220 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-04(23)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147478524/942-220-S99-1 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 220 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/220/tableOfContent + Details
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