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Commitments and Contingencies (Tables)

12 Months Ended

Dec. 31, 2020

Commitments and Contingencies Disclosure [Abstract]

Product Warranty Reserves

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

						Product Warranty
Millions of dollars						2020						2019
Balance at January 1						$	383					$	268
Issuances/accruals during the period						226						350
Settlements made during the period/other(1)						(336)						(235)
Balance at December 31						$	273					$	383
Current portion						$	184					$	254
Non-current portion						89						129
Total						$	273					$	383

(1)Includes updated reserve assumptions noted below.

Purchase Obligations

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

Millions of dollars
2021			$	214
2022			132
2023			89
2024			53
2025			26
Thereafter			42
Total purchase obligations			$	556

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- References

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- Definition

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.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 460
-SubTopic 10
-Section 50
-Paragraph 8
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Tabular disclosure of unconditional purchase obligation not recognized as liability.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 440
-SubTopic 10
-Section 50
-Paragraph 4
-URI http://asc.fasb.org/extlink&oid=121559207&loc=d3e25336-109308

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