Accumulated other comprehensive income (loss) (Tables)

12 Months Ended

Dec. 31, 2025

Equity [Abstract]

Schedule of accumulated other comprehensive income (loss)

Changes in the balances for each component of AOCI were as follows:



(Millions of dollars)
			2025						2024						2023
Foreign currency translation
Beginning balance			$	(2,310)					$	(1,782)					$	(2,328)


Gains (losses) on foreign currency translation			559						(535)						32
Less: Tax provision /(benefit)			2						21						(21)
Net gains (losses) on foreign currency translation			557						(556)						53
(Gains) losses reclassified to earnings			—						28						493
Less: Tax provision /(benefit)			—						—						—
Net (gains) losses reclassified to earnings			—						28						493
Other comprehensive income (loss), net of tax			557						(528)						546
Ending balance			$	(1,753)					$	(2,310)					$	(1,782)

Pension and other postretirement benefits
Beginning balance			$	(61)					$	(49)					$	(39)


Current year prior service credit (cost)			(7)						—						1
Less: Tax provision /(benefit)			(2)						—						—
Net current year prior service credit (cost)			(5)						—						1
Amortization of prior service (credit) cost			(4)						(14)						(12)
Less: Tax provision /(benefit)			—						(2)						(1)
Net amortization of prior service (credit) cost			(4)						(12)						(11)
Other comprehensive income (loss), net of tax			(9)						(12)						(10)
Ending balance			$	(70)					$	(61)					$	(49)

Derivative financial instruments
Beginning balance			$	(46)					$	67					$	28


Gains (losses) deferred			163						64						48
Less: Tax provision /(benefit)			38						27						11
Net gains (losses) deferred			125						37						37
(Gains) losses reclassified to earnings			(53)						(207)						3
Less: Tax provision /(benefit)			(13)						(57)						1
Net (gains) losses reclassified to earnings			(40)						(150)						2
Other comprehensive income (loss), net of tax			85						(113)						39
Ending balance			$	39					$	(46)					$	67



Available-for-sale securities
Beginning balance			$	(54)					$	(56)					$	(118)


Gains (losses) deferred			78						(2)						72
Less: Tax provision /(benefit)			18						—						11
Net gains (losses) deferred			60						(2)						61
(Gains) losses reclassified to earnings			8						4						1
Less: Tax provision /(benefit)			2						—						—
Net (gains) losses reclassified to earnings			6						4						1
Other comprehensive income (loss), net of tax			66						2						62
Ending balance			$	12					$	(54)					$	(56)

Total AOCI Ending Balance at December 31,			$	(1,772)					$	(2,471)					$	(1,820)