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Commitments and Contingencies (Tables)

12 Months Ended

Dec. 31, 2014

Commitments and Contingencies Disclosure [Abstract]

Product Warranty and Recall Reserves

The following table summarizes the changes in total product warranty reserves for the periods presented:

Millions of dollars		2014				2013
Balance at January 1		$	191			$	187
Issuances/accruals during the period(1)		316				292
Settlements made during the period		(272		)		(288		)
Balance at December 31		$	235			$	191
Current portion		$	186			$	154
Non-current portion		49				37
Total		$	235			$	191

⁽¹⁾ $61 million is included within issuances/accruals during 2014 related to acquisitions

Operating Lease Commitments

At December 31, 2014, we had noncancelable operating lease commitments totaling $868 million. The annual future minimum lease payments are summarized by year in the table below:

Millions of dollars
2015		$	230
2016		183
2017		150
2018		109
2019		82
Thereafter		114
Total noncancelable operating lease commitments		$	868

Purchase Obligations

Our expected cash outflows resulting from non-cancellable purchase obligations are summarized by year in the table below:

Millions of dollars
2015		$	209
2016		196
2017		147
2018		113
2019		65
Thereafter		211
Total purchase obligations		$	941

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Tabular disclosure of future minimum payments required in the aggregate and for each of the five succeeding fiscal years for operating leases having initial or remaining noncancelable lease terms in excess of one year and the total minimum rentals to be received in the future under noncancelable subleases as of the balance sheet date.

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-Name Accounting Standards Codification

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Tabular disclosure of the changes in the guarantor's aggregate product warranty liability, including the beginning balance of the aggregate product warranty liability, the aggregate reductions in that liability for payments made (in cash or in kind) under the warranty, the aggregate changes in the liability for accruals related to product warranties issued during the reporting period, the aggregate changes in the liability for accruals related to preexisting warranties (including adjustments related to changes in estimates), and the ending balance of the aggregate product warranty liability.

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Tabular disclosure of unconditional purchase obligations that are not recognized as a liability on the balance sheet, including the nature and significant terms of an unconditional purchase obligation; the amount of the fixed and determinable portion of the obligation as of the date of the latest balance sheet presented in the aggregate and, if determinable, for each of the five succeeding fiscal years; the nature of any variable components of the obligation; the amount purchased under the obligation (for example, the take-or-pay or throughput contract) for the reporting period; and may include the amount of imputed interest necessary to reduce the obligation to present value.

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