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Short-term Investments (Tables)

9 Months Ended

Sep. 30, 2024

Investments, Debt and Equity Securities [Abstract]

Schedule of Available-for-sale Securities Reconciliation

The components of investments were as follows:


						September 30, 2024
(Millions of dollars)						Fair Value Level						Amortized Cost						Unrealized Gains						Unrealized Losses						Fair Value						Cash and Cash Equivalents						Short-term Investments
Available-for-sale debt securities
Commercial paper						Level 2						$	813					$	—					$	—					$	813					$	64					$	749
Certificates of deposit and time deposits						Level 2						1,284						—						—						1,284						1,000						284
U.S. government securities						Level 1						89						—						—						89						—						89
Corporate notes and bonds						Level 2						19						—						—						19						—						19
Total available-for-sale debt securities												$	2,205					$	—					$	—					$	2,205					$	1,064					$	1,141
Cash																														2,938						2,938						—
Total																														$	5,143					$	4,002					$	1,141


						December 31, 2023
(Millions of dollars)						Fair Value Level						Amortized Cost						Unrealized Gains						Unrealized Losses						Fair Value						Cash and Cash Equivalents						Short-term Investments
Available-for-sale debt securities
Commercial paper						Level 2						$	3,154					$	2					$	—					$	3,156					$	281					$	2,875
Certificates of deposit and time deposits						Level 2						1,836						1						—						1,837						800						1,037
U.S. government securities						Level 1						785						—						(1)						784						—						784
Corporate notes and bonds						Level 2						85						—						—						85						—						85
Total available-for-sale debt securities												$	5,860					$	3					$	(1)					$	5,862					$	1,081					$	4,781
Cash																														4,362						4,362						—
Total																														$	10,224					$	5,443					$	4,781