Basis of Presentation and Significant Accounting Policies (Tables)
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12 Months Ended |
Dec. 31, 2019 |
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| Organization, Consolidation and Presentation of Financial Statements [Abstract] |
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| Impact of Adoption of Accounting Standard Updates |
| | | | | | | | | | | | | | Adopting the standard related to leases impacted our prior period consolidated balance sheet as follows: | (MILLIONS OF DOLLARS) | | As Previously Reported Balance at December 31, 2018 |
| | Effect of Change Higher/(Lower) |
| | Balance at January 1, 2019 |
| Other current assets | | $ | 2,461 |
| | $ | (1 | ) | | $ | 2,460 |
| Noncurrent deferred tax assets and other noncurrent tax assets | | 1,924 |
| | (11 | ) | | 1,913 |
| Other noncurrent assets | | 2,799 |
| | 1,351 |
| | 4,149 |
| Other current liabilities | | 10,753 |
| | 258 |
| | 11,011 |
| Other noncurrent liabilities | | 5,850 |
| | 1,060 |
| | 6,910 |
| Retained earnings | | 89,554 |
| | 20 |
| | 89,574 |
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| Information About Balance Sheet Classification of Accruals |
| | | | | | | | | | The following table provides information about the balance sheet classification of these accruals: | | | As of December 31, | (MILLIONS OF DOLLARS) | | 2019 |
| | 2018 |
| Reserve against Trade accounts receivable, less allowance for doubtful accounts | | $ | 1,257 |
| | $ | 1,288 |
| | | | | | Other current liabilities: | | | | | Accrued rebates | | 3,285 |
| | 3,208 |
| Other accruals | | 581 |
| | 531 |
| | | | | | Other noncurrent liabilities | | 565 |
| | 399 |
| Total accrued rebates and other accruals | | $ | 5,689 |
| | $ | 5,426 |
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| ROU Assets and Liabilities Presented in Condensed Consolidated Balance Sheets |
| | | | | | | | For operating leases, the ROU assets and liabilities are presented in our consolidated balance sheet as follows: | | | | | Balance at |
| (MILLIONS OF DOLLARS) | | Balance Sheet Classification | | December 31,
2019 |
| ROU assets | | Other noncurrent assets | | $ | 1,313 |
| Lease liabilities (short-term) | | Other current liabilities | | 276 |
| Lease liabilities (long-term) | | Other noncurrent liabilities | | 1,048 |
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| Total Lease Costs and Other Supplemental Information |
| | | | | | Our total lease costs are as follows: | | | Year Ended |
| (MILLIONS OF DOLLARS) | | December 31, 2019 |
| Operating lease cost | | $ | 416 |
| Variable lease cost | | 328 |
| Sublease income | | (45 | ) | Total lease cost | | $ | 700 |
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| | | | | | | | | | | Other supplemental information includes the following: | | | Weighted-Average Remaining Contractual Lease Term (Years) as of | | Weighted-Average Discount Rate as of |
| | Year Ended |
| (MILLIONS OF DOLLARS) | | December 31,
2019 | | December 31,
2019 |
| | December 31, 2019 |
| Operating leases | | 6.8 | | 3.5 | % | | | Cash paid for amounts included in the measurement of lease liabilities: | | | | | | | Operating cash flows from operating leases | | | | | | $ | 346 |
| (Gains)/losses on sale and leaseback transactions, net | | | | | | (29 | ) | ROU assets obtained in exchange for new operating lease liabilities | | | | | | 326 |
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| Schedule of Future Minimum Rental Payments for Operating Leases |
| | | | | | The table below reconciles the undiscounted cash flows for the first five years and total of the remaining years to the operating lease liabilities recorded in the consolidated balance sheet as of December 31, 2019: | (MILLIONS OF DOLLARS) | | | Period | | Operating Lease Liabilities |
| Next one year(a) | | $ | 323 |
| 1-2 years | | 286 |
| 2-3 years | | 220 |
| 3-4 years | | 180 |
| 4-5 years | | 97 |
| Thereafter | | 424 |
| Total undiscounted lease payments | | 1,530 |
| Less: Imputed interest | | 206 |
| Present value of minimum lease payments | | 1,324 |
| Less: Current portion | | 276 |
| Noncurrent portion | | $ | 1,048 |
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(a) Reflects lease payments due within 12 months subsequent to the balance sheet date.
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| Schedule of Future Minimum Rental Payments for Operating Leases |
| | | | | | | | | | | | | | | | | | | | | | | | | | As of December 31, 2018, the future minimum rental commitments under non-cancelable operating leases follow: | (MILLIONS OF DOLLARS) | | 2019 |
| | 2020 |
| | 2021 |
| | 2022 |
| | 2023 |
| | After 2023 |
| Lease commitments | | $ | 300 |
| | $ | 252 |
| | $ | 210 |
| | $ | 267 |
| | $ | 248 |
| | $ | 2,040 |
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