Caterpillar Financial Services 10-Q 6 Nov 24 2024 Q3 Quarterly report Financial data

Cover Page

Cover Page - shares	9 Months Ended
	Sep. 30, 2024	Nov. 06, 2024
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2024
Entity File Number	001-11241
Entity Registrant Name	CATERPILLAR FINANCIAL SERVICES CORPORATION
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	37-1105865
Entity Address, Address Line One	2120 West End Ave.
Entity Address, City or Town	Nashville
Entity Address, State or Province	TN
Entity Address, Postal Zip Code	37203-0001
City Area Code	615
Local Phone Number	341-1000
Title of 12(b) Security	Medium-Term Notes, Series K, 4.850% Notes Due 2029
Trading Symbol	CAT /29
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		1
Entity Central Index Key	0000764764
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q3
Amendment Flag	false
Document Transition Report	false

Consolidated Statements of Prof

Consolidated Statements of Profit - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Revenues:
Retail finance	$ 428	$ 378	$ 1,248	$ 1,072
Operating lease	235	232	701	672
Wholesale finance	188	184	541	508
Other, net	37	52	116	155
Total revenues	888	846	2,606	2,407
Expenses:
Interest	336	280	949	742
Depreciation on equipment leased to others	180	182	541	532
General, operating and administrative	160	153	478	434
Provision for credit losses	19	35	32	23
Other	8	7	22	23
Total expenses	703	657	2,022	1,754
Other income (expense)	(3)	(19)	(191)	(74)
Profit before income taxes	182	170	393	579
Provision for income taxes	45	72	151	177
Profit of consolidated companies	137	98	242	402
Less: Profit attributable to noncontrolling interests	0	0	1	5
Profit attributable to Caterpillar Financial Services Corporation	$ 137	$ 98	$ 241	$ 397

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income (Loss) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Statement of Comprehensive Income [Abstract]
Profit of consolidated companies	$ 137	$ 98	$ 242	$ 402
Other comprehensive income (loss), net of tax (Note 5):
Foreign currency translation	174	(102)	74	(99)
Derivative financial instruments	(7)	(4)	(11)	(4)
Total Other comprehensive income (loss), net of tax	167	(106)	63	(103)
Comprehensive income (loss)	304	(8)	305	299
Less: Comprehensive income (loss) attributable to noncontrolling interests	1	0	2	(1)
Comprehensive income (loss) attributable to Caterpillar Financial Services Corporation	$ 303	$ (8)	$ 303	$ 300

Consolidated Statements of Fina

Consolidated Statements of Financial Position - USD ($) $ in Millions	Sep. 30, 2024	Dec. 31, 2023
Assets:
Cash and cash equivalents	$ 707	$ 727
Finance receivables, net of allowance for credit losses of $255 and $331	29,150	27,746
Equipment on operating leases, net	2,907	3,014
Total assets	34,326	33,112
Liabilities and shareholder’s equity:
Payable to dealers and others	153	157
Payable to Caterpillar - borrowings and other	114	137
Accrued expenses	464	511
Short-term borrowings	3,725	4,643
Current maturities of long-term debt	8,346	7,719
Long-term debt	17,150	15,893
Other liabilities	899	882
Total liabilities	30,851	29,942
Commitments and contingent liabilities (Note 7)
Common stock - $1 par value Authorized: 2,000 shares; Issued and outstanding: one share (at paid-in amount)	745	745
Additional paid-in capital	2	2
Retained earnings	3,568	3,327
Accumulated other comprehensive income (loss)	(916)	(978)
Noncontrolling interests	76	74
Total shareholder’s equity	3,475	3,170
Total liabilities and shareholder’s equity	34,326	33,112
Related Party
Assets:
Other assets	506	527
Nonrelated Party
Assets:
Other assets	$ 1,056	$ 1,098

Consolidated Statements of Fi_2

Consolidated Statements of Financial Position (Parentheticals) - USD ($) $ in Millions	Sep. 30, 2024	Dec. 31, 2023
Statement of Financial Position [Abstract]
Allowance for credit losses	$ 255	$ 331
Shareholder's Equity:
Common stock, par value (in dollars per share)	$ 1	$ 1
Common stock, authorized (in dollars per share)	2,000	2,000
Common stock, issued (in dollars per share)	1	1
Common stock, outstanding (in dollars per share)	1	1

Consolidated Statements of Chan

Consolidated Statements of Changes in Shareholder's Equity - USD ($) $ in Millions	Total	Common stock	Additional paid-in capital	Retained earnings	Accumulated other comprehensive income (loss)	Noncontrolling interests
Beginning balance at Dec. 31, 2022	$ 2,963	$ 745	$ 2	$ 3,109	$ (1,047)	$ 154
Increase (Decrease) in Shareholder's Equity [Roll Forward]
Profit of consolidated companies	402			397		5
Dividend paid to Caterpillar	(155)			(75)		(80)
Foreign currency translation, net of tax	(99)				(93)	(6)
Derivative financial instruments, net of tax	(4)				(4)
Ending balance at Sep. 30, 2023	3,107	745	2	3,431	(1,144)	73
Beginning balance at Jun. 30, 2023	3,195	745	2	3,333	(1,038)	153
Increase (Decrease) in Shareholder's Equity [Roll Forward]
Profit of consolidated companies	98			98
Dividend paid to Caterpillar	(80)					(80)
Foreign currency translation, net of tax	(102)				(102)
Derivative financial instruments, net of tax	(4)				(4)
Ending balance at Sep. 30, 2023	3,107	745	2	3,431	(1,144)	73
Beginning balance at Dec. 31, 2023	3,170	745	2	3,327	(978)	74
Increase (Decrease) in Shareholder's Equity [Roll Forward]
Profit of consolidated companies	242			241		1
Foreign currency translation, net of tax	74				73	1
Derivative financial instruments, net of tax	(11)				(11)
Ending balance at Sep. 30, 2024	3,475	745	2	3,568	(916)	76
Beginning balance at Jun. 30, 2024	3,171	745	2	3,431	(1,082)	75
Increase (Decrease) in Shareholder's Equity [Roll Forward]
Profit of consolidated companies	137			137
Foreign currency translation, net of tax	174				173	1
Derivative financial instruments, net of tax	(7)				(7)
Ending balance at Sep. 30, 2024	$ 3,475	$ 745	$ 2	$ 3,568	$ (916)	$ 76

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Millions		9 Months Ended
		Sep. 30, 2024	Sep. 30, 2023
Cash flows from operating activities:
Profit of consolidated companies		$ 242	$ 402
Adjustments to reconcile profit to net cash provided by operating activities:
Depreciation and amortization		553	542
Accretion of Caterpillar purchased receivable revenue		(482)	(460)
Provision for credit losses		32	23
Loss on divestiture		210	0
Other, net		57	(49)
Changes in assets and liabilities:
Other assets		198	102
Payable to dealers and others		(26)	31
Accrued expenses		(35)	35
Other payables with Caterpillar		(9)	2
Other liabilities		74	43
Net cash provided by operating activities		814	671
Cash flows from investing activities:
Expenditures for equipment on operating leases		(793)	(1,015)
Capital expenditures - excluding equipment on operating leases		(24)	(14)
Proceeds from disposals of equipment		458	515
Additions to finance receivables		(12,281)	(12,484)
Collections of finance receivables		10,904	11,561
Net changes in Caterpillar purchased receivables		68	429
Proceeds from sale of business, net of cash sold		(153)	0
Proceeds from sales of receivables		69	40
Net change in variable lending to Caterpillar		(10)	(98)
Additions to other notes receivable from Caterpillar		(9)	(8)
Collections of other notes receivable from Caterpillar		42	38
Settlements of undesignated derivatives		19	8
Net cash provided by (used for) investing activities		(1,710)	(1,028)
Cash flows from financing activities:
Net change in variable lending from Caterpillar		(14)	1
Proceeds from debt issued (original maturities greater than three months)		7,579	6,360
Payments on debt issued (original maturities greater than three months)		(5,841)	(4,360)
Short-term borrowings, net (original maturities three months or less)		(848)	(1,723)
Dividend paid to Caterpillar		0	(155)
Net cash provided by (used for) financing activities		876	123
Effect of exchange rate changes on cash, cash equivalents and restricted cash		0	(65)
Increase (decrease) in cash, cash equivalents and restricted cash		(20)	(299)
Cash, cash equivalents and restricted cash at beginning of year	[1]	729	870
Cash, cash equivalents and restricted cash at end of period	[1]	$ 709	$ 571
[1] As of September 30, 2024 and December 31, 2023, restricted cash, which is included in Other assets in the Consolidated Statements of Financial Position, was $2 million. Restricted cash primarily includes cash related to syndication activities.

Consolidated Statements of Ca_2

Consolidated Statements of Cash Flows (Parentheticals) - USD ($) $ in Millions	Sep. 30, 2024	Dec. 31, 2023
Statement of Cash Flows [Abstract]
Restricted cash	$ 2	$ 2

Basis of Presentation

Basis of Presentation	9 Months Ended
	Sep. 30, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	Basis of Presentation In the opinion of management, the accompanying unaudited consolidated financial statements include all adjustments, consisting only of normal recurring adjustments, necessary for a fair statement of (a) the consolidated profit for the three and nine months ended September 30, 2024 and 2023, (b) the consolidated comprehensive income (loss) for the three and nine months ended September 30, 2024 and 2023, (c) the consolidated financial position at September 30, 2024 and December 31, 2023, (d) the consolidated changes in shareholder’s equity for the three and nine months ended September 30, 2024 and 2023 and (e) the consolidated cash flows for the nine months ended September 30, 2024 and 2023. The preparation of financial statements, in conformity with generally accepted accounting principles and pursuant to the rules and regulations of the Securities and Exchange Commission (SEC), requires management to make estimates and assumptions that affect the reported amounts. Significant estimates include residual values for leased assets, allowance for credit losses and income taxes. Actual results may differ from these estimates. Interim results are not necessarily indicative of results for a full year. The information included in this Form 10-Q should be read in conjunction with the audited consolidated financial statements and notes thereto included in our annual report on Form 10-K for the year ended December 31, 2023 (2023 Form 10-K). The December 31, 2023 financial position data included herein was derived from the audited consolidated financial statements included in the 2023 Form 10-K but does not include all disclosures required by generally accepted accounting principles. We consolidate all variable interest entities (VIEs) where we are the primary beneficiary. For VIEs, we assess whether we are the primary beneficiary as prescribed by the accounting guidance on the consolidation of VIEs. Please refer to Note 7 for more information. We have customers and dealers that are VIEs of which we are not the primary beneficiary. Our maximum exposure to loss from our involvement with these VIEs is limited to the credit risk inherently present in the financial support that we have provided. Credit risk was evaluated and reflected in our financial statements as part of our overall portfolio of finance receivables and related allowance for credit losses.

New Accounting Pronouncements

New Accounting Pronouncements	9 Months Ended
	Sep. 30, 2024
Accounting Standards Update and Change in Accounting Principle [Abstract]
New Accounting Pronouncements	New Accounting Pronouncements A. Adoption of New Accounting Standards We consider the applicability and impact of all Accounting Standards Updates (ASUs). We adopted the following ASU effective January 1, 2024, which did not have a material impact on our financial statements: ASU Description 2023-01 Leases: Common control arrangements B. Accounting Standards Issued But Not Yet Adopted Segment reporting (ASU 2023-07) - In November 2023, the Financial Accounting Standards Board (FASB) issued accounting guidance that requires incremental disclosures related to reportable segments which includes significant segment expense categories and amounts for each reportable segment. The expanded annual disclosures are effective for our year ending December 31, 2024, and the expanded interim disclosures are effective in 2025 and will be applied retrospectively to all prior periods presented. Income tax reporting (ASU 2023-09) - In December 2023, the FASB issued accounting guidance to expand the annual disclosure requirements for income taxes, primarily related to the rate reconciliation and income taxes paid. This guidance is effective January 1, 2025, with early adoption permitted. This guidance can be applied prospectively or retrospectively. We are in the process of evaluating the effect of this new guidance on the related disclosures. All other ASUs issued but not yet adopted were assessed and we determined that they either were not applicable or were not expected to have a material impact on our financial statements.

Finance Receivables

Finance Receivables	9 Months Ended
	Sep. 30, 2024
Receivables [Abstract]
Finance Receivables	Finance Receivables A summary of finance receivables included in the Consolidated Statements of Financial Position was as follows: (Millions of dollars) September 30, December 31, Retail loans (1) $ 17,314 $ 16,501 Retail leases 6,591 6,554 Caterpillar purchased receivables 4,314 3,949 Wholesale loans (1) 1,184 1,069 Wholesale leases 2 4 Total finance receivables 29,405 28,077 Less: Allowance for credit losses (255) (331) Total finance receivables, net $ 29,150 $ 27,746 (1) Includes failed sale leasebacks. Finance leases Revenues from finance leases were $110 million and $106 million for the three months ended September 30, 2024 and 2023, respectively, and $323 million and $314 million for the nine months ended September 30, 2024 and 2023, respectively, and are included in retail and wholesale finance revenues in the Consolidated Statements of Profit. A. Allowance for credit losses Portfolio segments A portfolio segment is the level at which we develop a systematic methodology for determining our allowance for credit losses. Our portfolio segments and related methods for estimating expected credit losses are as follows: Customer We provide loans and finance leases to end-user customers primarily for the purpose of financing new and used Caterpillar machinery, engines and equipment for commercial use. We also provide financing for power generation facilities that, in most cases, incorporate Caterpillar products. The average original term of our customer finance receivable portfolio was approximately 51 months with an average remaining term of approximately 27 months as of September 30, 2024. We typically maintain a security interest in financed equipment and generally require physical damage insurance coverage on the financed equipment, both of which provide us with certain rights and protections. If our collection efforts fail to bring a defaulted account current, we generally can repossess the financed equipment, after satisfying local legal requirements, and sell it within the Caterpillar dealer network or through third-party auctions. We estimate the allowance for credit losses related to our customer finance receivables based on loss forecast models utilizing probabilities of default and our estimated loss given default based on past loss experience adjusted for current conditions and reasonable and supportable forecasts capturing country and industry-specific economic factors. During the three and nine months ended September 30, 2024, our forecasts reflected a continuation of the trend of historically low unemployment rates as well as low delinquencies within our portfolio. However, industry delinquencies show an increasing trend as the central bank actions aimed at reducing inflation have weakened global economic growth. We believe the economic forecasts employed represent reasonable and supportable forecasts, followed by a reversion to long-term trends. Dealer We provide financing to Caterpillar dealers in the form of wholesale financing plans. Our wholesale financing plans provide assistance to dealers by financing their mostly new Caterpillar equipment inventory and rental fleets on a secured and unsecured basis. In addition, we provide a variety of secured and unsecured loans to Caterpillar dealers. We estimate the allowance for credit losses for dealer finance receivables based on historical loss rates with consideration of current economic conditions and reasonable and supportable forecasts. In general, our Dealer portfolio segment has not historically experienced large increases or decreases in credit losses based on changes in economic conditions due to our close working relationships with the dealers and their financial strength. Therefore, we made no adjustments to historical loss rates during the three and nine months ended September 30, 2024. Caterpillar Purchased Receivables We purchase receivables from Caterpillar, primarily related to the sale of equipment and parts to dealers. Caterpillar purchased receivables are non-interest-bearing short-term trade receivables that are purchased at a discount. We estimate the allowance for credit losses for Caterpillar purchased receivables based on historical loss rates with consideration of current economic conditions and reasonable and supportable forecasts. In general, our Caterpillar Purchased Receivables portfolio segment has not historically experienced large increases or decreases in credit losses based on changes in economic conditions due to the short-term maturities of the receivables, our close working relationships with the dealers and their financial strength. Therefore, we made no adjustments to historical loss rates during the three and nine months ended September 30, 2024. Classes of finance receivables We further evaluate our portfolio segments by the class of finance receivables, which is defined as a level of information (below a portfolio segment) in which the finance receivables have the same initial measurement attribute and a similar method for assessing and monitoring credit risk. Our classes, which align with management reporting for credit losses, are as follows: • North America - Finance receivables originated in the United States and Canada. • EAME - Finance receivables originated in Europe, Africa, the Middle East and Eurasia. • Asia/Pacific - Finance receivables originated in Australia, New Zealand, China, Japan, Southeast Asia and India. • Mining - Finance receivables related to large mining customers worldwide. • Latin America - Finance receivables originated in Mexico and Central and South American countries. • Power - Finance receivables originated worldwide related to Caterpillar electrical power generation, gas compression and co-generation systems and non-Caterpillar equipment that is powered by these systems. An analysis of the allowance for credit losses was as follows: (Millions of dollars) Three Months Ended September 30, 2024 Three Months Ended September 30, 2023 Customer Dealer Caterpillar Total Customer Dealer Caterpillar Total Beginning Balance $ 246 $ 4 $ 4 $ 254 $ 265 $ 50 $ 5 $ 320 Write-offs (42) — — (42) (22) — — (22) Recoveries 15 — — 15 13 — — 13 Provision for credit losses (1) 25 — 1 26 31 1 — 32 Other 2 — — 2 (3) — — (3) Ending Balance $ 246 $ 4 $ 5 $ 255 $ 284 $ 51 $ 5 $ 340 Nine Months Ended September 30, 2024 Nine Months Ended September 30, 2023 Customer Dealer Caterpillar Total Customer Dealer Caterpillar Total Beginning Balance $ 276 $ 51 $ 4 $ 331 $ 277 $ 65 $ 4 $ 346 Write-offs (98) (47) — (145) (63) — — (63) Recoveries 45 — — 45 36 — — 36 Provision for credit losses (1) 49 — 1 50 35 (14) 1 22 Other (26) — — (26) (1) — — (1) Ending Balance $ 246 $ 4 $ 5 $ 255 $ 284 $ 51 $ 5 $ 340 Finance Receivables $ 22,189 $ 2,902 $ 4,314 $ 29,405 $ 20,279 $ 2,882 $ 4,381 $ 27,542 (1) Excludes provision for credit losses on unfunded commitments and other miscellaneous receivables. Gross write-offs by origination year for our Customer portfolio segment were as follows: (Millions of dollars) Three Months Ended September 30, 2024 2024 2023 2022 2021 2020 Prior Revolving Finance Receivables Total North America $ — $ 5 $ 4 $ 2 $ 1 $ — $ 2 $ 14 EAME — — 1 1 1 — — 3 Asia/Pacific — 2 1 — — 1 — 4 Mining 8 3 3 — — — — 14 Latin America — 2 2 1 2 — — 7 Total $ 8 $ 12 $ 11 $ 4 $ 4 $ 1 $ 2 $ 42 Three Months Ended September 30, 2023 2023 2022 2021 2020 2019 Prior Revolving Finance Receivables Total North America $ 1 $ 2 $ 2 $ 1 $ 1 $ — $ 2 $ 9 EAME — 1 1 1 — — — 3 Asia/Pacific — 2 3 1 — — — 6 Latin America — 1 1 1 — 1 — 4 Total $ 1 $ 6 $ 7 $ 4 $ 1 $ 1 $ 2 $ 22 Nine Months Ended September 30, 2024 2024 2023 2022 2021 2020 Prior Revolving Finance Receivables Total North America $ — $ 13 $ 10 $ 5 $ 2 $ 1 $ 8 $ 39 EAME — 2 3 3 2 — — 10 Asia/Pacific — 4 4 3 1 1 — 13 Mining 8 3 3 — — — — 14 Latin America — 2 5 4 3 8 — 22 Total $ 8 $ 24 $ 25 $ 15 $ 8 $ 10 $ 8 $ 98 Nine Months Ended September 30, 2023 2023 2022 2021 2020 2019 Prior Revolving Finance Receivables Total North America $ 1 $ 7 $ 7 $ 2 $ 2 $ 1 $ 9 $ 29 EAME — 2 3 3 — 1 — 9 Asia/Pacific — 3 6 4 1 — — 14 Latin America — 3 3 3 1 1 — 11 Total $ 1 $ 15 $ 19 $ 12 $ 4 $ 3 $ 9 $ 63 For the three months ended September 30, 2024, there were no gross write-offs in our Dealer portfolio segment. For the nine months ended September 30, 2024 there were $47 million of gross write-offs in our Dealer portfolio segment, all of which were in Latin America and originated prior to 2019. B. Credit quality of finance receivables At origination, we evaluate credit risk based on a variety of credit quality factors including prior payment experience, customer financial information, credit ratings, loan-to-value ratios, probabilities of default, industry trends, macroeconomic factors and other internal metrics. On an ongoing basis, we monitor credit quality based on past-due status as there is a meaningful correlation between the past-due status of customers and the risk of loss. In determining past-due status, we consider the entire finance receivable past due when any installment is over 30 days past due. Customer The aging category of the amortized cost of finance receivables in our Customer portfolio segment by origination year were as follows: (Millions of dollars) September 30, 2024 2024 2023 2022 2021 2020 Prior Revolving Total North America Current $ 3,959 $ 3,389 $ 1,821 $ 1,210 $ 347 $ 63 $ 360 $ 11,149 31-60 days past due 24 43 36 23 8 2 3 139 61-90 days past due 6 13 10 5 2 1 1 38 91+ days past due 6 31 27 16 7 3 1 91 EAME Current 998 1,040 646 351 130 103 — 3,268 31-60 days past due 7 16 12 6 2 — — 43 61-90 days past due 2 7 3 2 1 — — 15 91+ days past due 4 21 12 17 6 2 — 62 Asia/Pacific Current 881 821 415 178 47 11 51 2,404 31-60 days past due 6 10 7 3 1 — — 27 61-90 days past due 1 3 3 2 — — — 9 91+ days past due 1 2 3 2 1 — — 9 Mining Current 844 865 515 258 86 54 24 2,646 31-60 days past due — — — — — — — — 61-90 days past due 9 7 6 1 — — — 23 91+ days past due — 1 1 1 — 5 — 8 Latin America Current 680 468 290 89 14 6 — 1,547 31-60 days past due 3 7 6 2 — — — 18 61-90 days past due — 2 2 1 — 1 — 6 91+ days past due 1 5 8 4 2 1 — 21 Power Current 83 183 46 48 66 76 161 663 31-60 days past due — — — — — — — — 61-90 days past due — — — — — — — — 91+ days past due — — — — — 3 — 3 Totals by Aging Category Current 7,445 6,766 3,733 2,134 690 313 596 21,677 31-60 days past due 40 76 61 34 11 2 3 227 61-90 days past due 18 32 24 11 3 2 1 91 91+ days past due 12 60 51 40 16 14 1 194 Total $ 7,515 $ 6,934 $ 3,869 $ 2,219 $ 720 $ 331 $ 601 $ 22,189 (Millions of dollars) December 31, 2023 2023 2022 2021 2020 2019 Prior Revolving Total North America Current $ 4,430 $ 2,628 $ 2,000 $ 745 $ 220 $ 32 $ 312 $ 10,367 31-60 days past due 28 31 24 14 7 1 4 109 61-90 days past due 10 11 8 4 1 — 2 36 91+ days past due 12 23 18 9 4 1 2 69 EAME Current 1,336 895 588 258 111 105 — 3,293 31-60 days past due 10 9 7 3 1 — — 30 61-90 days past due 4 3 3 1 1 — — 12 91+ days past due 7 17 15 8 3 1 — 51 Asia/Pacific Current 1,134 690 368 115 37 7 45 2,396 31-60 days past due 5 7 8 2 — — — 22 61-90 days past due 2 3 3 2 — — — 10 91+ days past due 1 5 3 3 1 — — 13 Mining Current 1,106 694 396 126 86 27 66 2,501 31-60 days past due — — — — — — — — 61-90 days past due — — — — 1 1 — 2 91+ days past due — — 1 — — 1 — 2 Latin America Current 750 520 219 59 23 6 — 1,577 31-60 days past due 9 10 6 1 — — — 26 61-90 days past due 2 4 1 — — — — 7 91+ days past due 2 10 8 5 8 11 — 44 Power Current 152 52 65 75 42 59 162 607 31-60 days past due — — — — — — — — 61-90 days past due — — — — — — — — 91+ days past due — — — — — 3 — 3 Totals by Aging Category Current 8,908 5,479 3,636 1,378 519 236 585 20,741 31-60 days past due 52 57 45 20 8 1 4 187 61-90 days past due 18 21 15 7 3 1 2 67 91+ days past due 22 55 45 25 16 17 2 182 Total $ 9,000 $ 5,612 $ 3,741 $ 1,430 $ 546 $ 255 $ 593 $ 21,177 Finance receivables in our Customer portfolio segment are substantially secured by collateral, primarily in the form of Caterpillar and other equipment. For those contracts where the borrower is experiencing financial difficulty, repayment of the outstanding amounts is generally expected to be provided through the operation or repossession and sale of the equipment. Dealer As of September 30, 2024 the total amortized cost of finance receivables within our Dealer portfolio segment was current. As of December 31, 2023, the total amortized cost of finance receivables within our Dealer portfolio segment was current, with the exception of $47 million that was 91+ days past due in Latin America, all of which originated prior to 2019. Caterpillar Purchased Receivables The aging category of our amortized cost of finance receivables in the Caterpillar Purchased Receivables portfolio segment were as follows: (Millions of dollars) September 30, 2024 31-60 61-90 91+ Total Current Total Finance North America $ 10 $ 5 $ 5 $ 20 $ 2,476 $ 2,496 EAME 2 2 3 7 811 818 Asia/Pacific — — — — 600 600 Latin America — — — — 366 366 Power 5 1 — 6 28 34 Total $ 17 $ 8 $ 8 $ 33 $ 4,281 $ 4,314 December 31, 2023 31-60 61-90 91+ Total Current Total Finance North America $ 15 $ 5 $ 4 $ 24 $ 2,212 $ 2,236 EAME 3 1 1 5 732 737 Asia/Pacific 2 — — 2 593 595 Latin America 1 4 18 23 348 371 Power — — — — 10 10 Total $ 21 $ 10 $ 23 $ 54 $ 3,895 $ 3,949 Non-accrual finance receivables In our Customer portfolio segment, finance receivables which were on non-accrual status and finance receivables over 90 days past due and still accruing income were as follows: (Millions of dollars) September 30, 2024 December 31, 2023 Amortized Cost Amortized Cost Non-accrual 91+ Still Non-accrual 91+ Still North America $ 78 $ 15 $ 52 $ 20 EAME 62 3 34 18 Asia/Pacific 7 4 8 5 Mining 31 — 2 — Latin America 25 — 48 1 Power 3 — 8 — Total $ 206 $ 22 $ 152 $ 44 There were no finance receivables in our Dealer portfolio segment on non-accrual status as of September 30, 2024. There were $47 million in finance receivables in our Dealer portfolio segment on non-accrual status as of December 31, 2023, all of which were in Latin America. Modifications We periodically modify the terms of our finance receivable agreements. Typically, the types of modifications granted are payment deferrals, interest only payment periods and/or term extensions. Many modifications we grant are for commercial reasons or for borrowers experiencing some form of short-term financial stress and may result in insignificant payment delays. We do not consider these borrowers to be experiencing financial difficulty. Modifications for borrowers we do consider to be experiencing financial difficulty typically result in payment deferrals and/or reduced payments for a period of four months or longer, term extension of six months or longer or a combination of both. During the three and nine months ended September 30, 2024 and 2023, there were no finance receivable modifications granted to borrowers experiencing financial difficulty in the Dealer or Caterpillar Purchased Receivables portfolio segments. The amortized cost basis of finance receivables modified for borrowers experiencing financial difficulty in our Customer portfolio segment during the three months ended September 30, 2024 and 2023 was $6 million and $13 million, respectively. Total modifications with borrowers experiencing financial difficulty represented 0.03 percent and 0.05 percent of the Customer portfolio for the same periods, respectively. The amortized cost basis of finance receivables modified for borrowers experiencing financial difficulty in our Customer portfolio segment during the nine months ended September 30, 2024 and 2023 was $12 million and $38 million, respectively. Total modifications with borrowers experiencing financial difficulty represented 0.05 percent and 0.14 percent of the Customer portfolio for the same periods, respectively. For the three months ended September 30, 2024 and 2023, the financial effects of term extensions for borrowers experiencing financial difficulty added a weighted average of 5 and 8 months, respectively, to the terms of modified contracts. For the nine months ended September 30, 2024 and 2023, the financial effects of term extensions for borrowers experiencing financial difficulty added a weighted average of 8 and 17 months, respectively, to the terms of modified contracts. For the three months ended September 30, 2024 and 2023, the financial effects of payment delays for borrowers experiencing financial difficulty resulted in weighted average payment deferral and/or interest only periods of 4 and 6 months, respectively. For the nine months ended September 30, 2024 and 2023, the financial effects of payment delays for borrowers experiencing financial difficulty resulted in weighted average payment deferral and/or interest only periods of 6 and 7 months, respectively. After we modify a finance receivable, we continue to track its performance under its most recent modified terms. As of September 30, 2024 and 2023, defaults of loans modified in the prior twelve months were not significant. The effect of most modifications made to finance receivables for borrowers experiencing financial difficulty is already included in the allowance for credit losses based on the methodologies used to estimate the allowance; therefore, a change to the allowance for credit losses is generally not recorded upon modification. On rare occasions when principal forgiveness is provided, the amount forgiven is written off against the allowance for credit losses.

Derivative Financial Instrument

Derivative Financial Instruments and Risk Management	9 Months Ended
	Sep. 30, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Financial Instruments and Risk Management	Derivative Financial Instruments and Risk Management Our earnings and cash flows are subject to fluctuations due to changes in foreign currency exchange rates and interest rates. Our Risk Management Policy (policy) allows for the use of derivative financial instruments to prudently manage foreign currency exchange rate and interest rate exposures. Our policy specifies that derivatives are not to be used for speculative purposes. Derivatives that we use are primarily foreign currency forward, option, and cross currency contracts and interest rate contracts. Our derivative activities are subject to the management, direction and control of our senior financial officers. We present at least annually to our Board of Directors and the Audit Committee of the Caterpillar Board of Directors on our risk management practices, including our use of financial derivative instruments. We recognize all derivatives at their fair value in the Consolidated Statements of Financial Position. On the date the derivative contract is entered into, the derivative instrument is (1) designated as a hedge of the fair value of a recognized asset or liability (fair value hedge), (2) designated as a hedge of a forecasted transaction or the variability of cash flows (cash flow hedge) or (3) undesignated. We record in current earnings changes in the fair value of a derivative that is qualified, designated and highly effective as a fair value hedge, along with the gain or loss on the hedged recognized asset or liability that is attributable to the hedged risk. We record in Accumulated other comprehensive income (loss) (AOCI) changes in the fair value of a derivative that is qualified, designated and highly effective as a cash flow hedge, to the extent effective, in the Consolidated Statements of Financial Position until we reclassify them to earnings in the same period or periods during which the hedged transaction affects earnings. We report changes in the fair value of undesignated derivative instruments in current earnings. We classify cash flows from designated derivative financial instruments within the same category as the item being hedged in the Consolidated Statements of Cash Flows. We include cash flows from undesignated derivative financial instruments in the investing category in the Consolidated Statements of Cash Flows. We formally document all relationships between hedging instruments and hedged items, as well as the risk-management objective and strategy for undertaking various hedge transactions. This process includes linking all derivatives that are designated as fair value hedges to specific assets and liabilities in the Consolidated Statements of Financial Position and linking cash flow hedges to specific forecasted transactions or variability of cash flow. We also formally assess, both at the hedge’s inception and on an ongoing basis, whether the designated derivatives that are used in hedging transactions are highly effective in offsetting changes in fair value or cash flow of hedged items. When a derivative is determined not to be highly effective as a hedge or the underlying hedged transaction is no longer probable, we discontinue hedge accounting prospectively, in accordance with the derecognition criteria for hedge accounting. Foreign currency exchange rate risk We have balance sheet positions and expected future transactions denominated in foreign currencies, thereby creating exposure to movements in exchange rates. In managing foreign currency risk, our objective is to minimize earnings volatility resulting from conversion and the remeasurement of net foreign currency balance sheet positions and future transactions denominated in foreign currencies. Our policy allows the use of foreign currency forward, option and cross currency contracts to offset the risk of currency mismatch between our assets and liabilities and exchange rate risk associated with future transactions denominated in foreign currencies. Our foreign currency forward and option contracts are primarily undesignated. We designate fixed-to-fixed cross currency contracts as cash flow hedges to protect against movements in exchange rates on foreign currency fixed-rate assets and liabilities. Interest rate risk Interest rate movements create a degree of risk by affecting the amount of our interest payments and the value of our fixed-rate debt. Our practice is to use interest rate contracts to manage our exposure to interest rate changes. We have a match-funding policy that addresses interest rate risk by aligning the interest rate profile (fixed or floating rate and duration) of our debt portfolio with the interest rate profile of our finance receivable portfolio within predetermined ranges on an ongoing basis. In connection with that policy, we use interest rate derivative instruments to modify the debt structure to match assets within the finance receivable portfolio. This matched funding reduces the volatility of margins between interest-bearing assets and interest-bearing liabilities, regardless of which direction interest rates move. Our policy allows us to use fixed-to-floating, floating-to-fixed and floating-to-floating interest rate contracts to meet the match-funding objective. We designate fixed-to-floating interest rate contracts as fair value hedges to protect debt against changes in fair value due to changes in the benchmark interest rate. We designate most floating-to-fixed interest rate contracts as cash flow hedges to protect against the variability of cash flows due to changes in the benchmark interest rate. We have, at certain times, liquidated fixed-to-floating and floating-to-fixed interest rate contracts. We amortize the gains or losses associated with these contracts at the time of liquidation into earnings over the original term of the previously designated hedged item. The location and fair value of derivative instruments reported in the Consolidated Statements of Financial Position were as follows: (Millions of dollars) September 30, 2024 December 31, 2023 Assets 1 Liabilities 2 Assets 1 Liabilities 2 Designated derivatives Foreign exchange contracts $ 179 $ (91) $ 207 $ (73) Interest rate contracts 43 (28) 50 (68) $ 222 $ (119) $ 257 $ (141) Undesignated derivatives Foreign exchange contracts $ 22 $ (79) $ 28 $ (79) $ 22 $ (79) $ 28 $ (79) (1) Assets are classified in the Consolidated Statements of Financial Position as Other assets. (2) Liabilities are classified in the Consolidated Statements of Financial Position as Accrued expenses. The total notional amount of our derivative instruments was $15.84 billion and $15.73 billion as of September 30, 2024 and December 31, 2023, respectively. The notional amounts of derivative financial instruments do not represent amounts exchanged by the parties. We calculate the amounts exchanged by the parties by referencing the notional amounts and by other terms of the derivatives, such as foreign currency exchange rates and interest rates. Gains (Losses) on derivative instruments are categorized as follows: (Millions of dollars) Fair Value / Cash Flow Hedges Gains (Losses) Recognized 1 Gains (Losses) Gains (Losses) Reclassified from AOCI 2 Three Months Ended September 30, 2024 2023 2024 2023 2024 2023 Foreign exchange contracts $ (65) $ 22 $ (41) $ 76 $ (53) $ 70 Interest rate contracts (23) (20) (9) 3 9 15 $ (88) $ 2 $ (50) $ 79 $ (44) $ 85 Nine Months Ended September 30, 2024 2023 2024 2023 2024 2023 Foreign exchange contracts $ 15 $ 21 $ 126 $ 59 $ 103 $ 38 Interest rate contracts (64) (53) 6 15 39 43 $ (49) $ (32) $ 132 $ 74 $ 142 $ 81 (1) Foreign exchange contract gains (losses) are primarily from undesignated forward contracts and are included in Other income (expense). Interest rate contract gains (losses) are from designated fair value hedges and are included in Interest expense. (2) Foreign exchange contract gains (losses) are primarily included in Other income (expense). Interest rate contract gains (losses) are included in Interest expense. The amounts recorded in the Consolidated Statements of Financial Position related to cumulative basis adjustments for fair value hedges were as follows: (Millions of dollars) Carrying Value of Cumulative Amount of Fair Value September 30, 2024 December 31, 2023 September 30, 2024 December 31, 2023 Current maturities of long-term debt $ 948 $ 982 $ (2) $ (23) Long-term debt 2,873 2,128 27 (23) Total $ 3,821 $ 3,110 $ 25 $ (46) As of September 30, 2024, $8 million of deferred net gains, net of tax, included in equity (AOCI in the Consolidated Statements of Financial Position), related to our cash flow hedges, are expected to be reclassified to earnings over the next twelve months. The actual amount recorded in earnings will vary based on interest rates and exchange rates at the time the hedged transactions impact earnings. We enter into International Swaps and Derivatives Association master netting agreements that permit the net settlement of amounts owed under their respective derivative contracts. Under these master netting agreements, net settlement generally permits us or the counterparty to determine the net amount payable for contracts due on the same date and in the same currency for similar types of derivative transactions. The master netting agreements may also provide for net settlement of all outstanding contracts with a counterparty in the case of an event of default or a termination event. Collateral is typically not required of the counterparties or us under the master netting agreements. As of September 30, 2024 and December 31, 2023, no cash collateral was received or pledged under the master netting agreements. The effects of net settlement provisions of the master netting agreements on our derivative balances upon an event of default or a termination event were as follows: (Millions of dollars) September 30, 2024 December 31, 2023 Assets Liabilities Assets Liabilities Gross amounts recognized $ 244 $ (198) $ 285 $ (220) Financial instruments not offset (93) 93 (106) 106 Net amount $ 151 $ (105) $ 179 $ (114)

Accumulated Other Comprehensive

Accumulated Other Comprehensive Income (Loss)	9 Months Ended
	Sep. 30, 2024
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]
Accumulated Other Comprehensive Income (Loss)	Accumulated Other Comprehensive Income (Loss) We present Comprehensive income (loss) and its components in the Consolidated Statements of Comprehensive Income (Loss). Changes in the balances for each component of AOCI were as follows: (Millions of dollars) Three Months Ended Nine Months Ended 2024 2023 2024 2023 Foreign currency translation Balance at beginning of period $ (1,096) $ (1,059) $ (996) $ (1,068) Gains (losses) on foreign currency translation 151 (89) 5 (89) Less: Tax provision/(benefit) (22) 13 (7) 4 Net gains (losses) on foreign currency translation 173 (102) 12 (93) (Gains) losses reclassified to earnings — — 61 — Less: Tax provision/(benefit) — — — — Net (gains) losses reclassified to earnings — — 61 — Other comprehensive income (loss), net of tax 173 (102) 73 (93) Balance at end of period $ (923) $ (1,161) $ (923) $ (1,161) Derivative financial instruments Balance at beginning of period $ 14 $ 21 $ 18 $ 21 Gains (losses) deferred (50) 79 132 74 Less: Tax provision/(benefit) (5) 20 41 18 Net gains (losses) deferred (45) 59 91 56 (Gains) losses reclassified to earnings 44 (85) (142) (81) Less: Tax (provision)/benefit 6 (22) (40) (21) Net (gains) losses reclassified to earnings 38 (63) (102) (60) Other comprehensive income (loss), net of tax (7) (4) (11) (4) Balance at end of period $ 7 $ 17 $ 7 $ 17 Total Accumulated other comprehensive income (loss) at end of period $ (916) $ (1,144) $ (916) $ (1,144)

Segment Information

Segment Information	9 Months Ended
	Sep. 30, 2024
Segment Reporting [Abstract]
Segment Information	Segment Information A. Basis for Segment Information The Chief Operating Decision Maker (the CEO) allocates resources and manages performance for our six operating segments described below. Our operating segments provide financing alternatives to customers and dealers around the world for Caterpillar products and services and power generation facilities that, in most cases, incorporate Caterpillar products. Financing plans include operating and finance leases, revolving charge accounts, retail loans, working capital loans to Caterpillar dealers and wholesale financing plans within each of the operating segments. Certain operating segments also purchase short-term trade receivables from Caterpillar. B. Description of Segments We have six operating segments that offer financing services. Following is a brief description of our segments: • North America - Includes our operations in the United States and Canada. • EAME - Includes our operations in Europe, Africa, the Middle East and Eurasia. • Asia/Pacific - Includes our operations in Australia, New Zealand, China, Japan, Southeast Asia and India. • Latin America - Includes our operations in Mexico and Central and South American countries. • Mining - Provides financing for large mining customers worldwide. • Power - Provides financing worldwide for Caterpillar electrical power generation, gas compression and co-generation systems and non-Caterpillar equipment that is powered by these systems. C. Segment Measurement and Reconciliations Cash, debt and other expenses are allocated to our segments based on their respective portfolios. The related Interest expense is calculated based on the amount of allocated debt and the rates associated with that debt. The performance of each segment is assessed based on a consistent leverage ratio. The Provision for credit losses is based on each segment’s respective finance receivable portfolio. Capital expenditures include expenditures for equipment on operating leases and other miscellaneous capital expenditures. Reconciling items are created based on accounting differences between segment reporting and consolidated external reporting. For the reconciliation of Profit before income taxes, we have grouped the reconciling items as follows: • Unallocated - Corporate requirements and strategies that are considered to be for the benefit of the entire organization. Also included are the consolidated results of the special-purpose corporation (SPC) (see Note 7 for additional information) and other miscellaneous items. • Timing - Timing differences in the recognition of costs between segment reporting and consolidated external reporting. • Methodology - Methodology differences between segment reporting and consolidated external reporting are as follows: ◦ Segment assets include off-balance sheet managed assets for which we maintain servicing responsibilities. ◦ The impact of differences between the actual leverage and the segment leverage ratios. ◦ Interest expense includes realized forward points on foreign currency forward contracts. ◦ The net gain or loss from interest rate derivatives is excluded from segment reporting. • Divestiture - Loss on divestiture included in Other income (expense). See Note 10 for more information. Supplemental segment data and reconciliations to consolidated external reporting for the three months ended September 30 were as follows: (Millions of dollars) 2024 External Profit Interest Depreciation Provision Assets at September 30, 2024 Capital North America $ 513 $ 159 $ 165 $ 128 $ 9 $ 17,353 $ 197 EAME 98 23 39 14 1 4,998 20 Asia/Pacific 68 24 25 1 — 3,498 4 Latin America 83 32 38 3 (3) 2,531 3 Mining 94 11 28 33 11 3,366 30 Power 16 3 9 1 1 747 — Total Segments 872 252 304 180 19 32,493 254 Unallocated 21 (160) 128 — — 1,997 10 Timing (5) (1) — — — (18) — Methodology — 91 (96) — — 113 — Divestiture — — — — — — — Inter-segment Eliminations (1) — — — — — (259) — Total $ 888 $ 182 $ 336 $ 180 $ 19 $ 34,326 $ 264 2023 External Profit Interest Depreciation Provision Assets at Capital North America $ 459 $ 144 $ 128 $ 130 $ 10 $ 16,303 $ 274 EAME 102 35 26 14 1 5,117 14 Asia/Pacific 70 19 32 2 1 3,435 — Latin America 95 15 48 3 13 2,583 3 Mining 86 17 23 32 5 3,059 49 Power 15 (1) 7 1 4 662 — Total Segments 827 229 264 182 34 31,159 340 Unallocated 23 (137) 108 — 1 2,054 1 Timing (4) 1 — — — 20 — Methodology — 77 (92) — — 145 — Inter-segment Eliminations (1) — — — — — (266) — Total $ 846 $ 170 $ 280 $ 182 $ 35 $ 33,112 $ 341 (1) Eliminations are primarily related to intercompany loans. Supplemental segment data and reconciliations to consolidated external reporting for the nine months ended September 30 were as follows: (Millions of dollars) 2024 External Profit Interest Depreciation Provision Assets at September 30, 2024 Capital North America $ 1,491 $ 451 $ 460 $ 385 $ 43 $ 17,353 $ 608 EAME 283 75 108 41 (11) 4,998 39 Asia/Pacific 202 70 73 3 (2) 3,498 8 Latin America 252 84 116 10 — 2,531 15 Mining 279 55 77 100 16 3,366 129 Power 46 27 24 2 (14) 747 — Total Segments 2,553 762 858 541 32 32,493 799 Unallocated 65 (406) 360 — — 1,997 18 Timing (12) — — — — (18) — Methodology — 247 (269) — — 113 — Divestiture — (210) — — — — — Inter-segment Eliminations (1) — — — — — (259) — Total $ 2,606 $ 393 $ 949 $ 541 $ 32 $ 34,326 $ 817 2023 External Profit Interest Depreciation Provision Assets at Capital North America $ 1,313 $ 447 $ 331 $ 380 $ 17 $ 16,303 $ 789 EAME 274 79 72 43 3 5,117 50 Asia/Pacific 213 86 78 4 (3) 3,435 2 Latin America 264 81 132 9 (2) 2,583 13 Mining 253 76 56 94 (2) 3,059 168 Power 43 3 19 2 9 662 — Total Segments 2,360 772 688 532 22 31,159 1,022 Unallocated 58 (378) 279 — 1 2,054 7 Timing (11) 1 — — — 20 — Methodology — 184 (225) — — 145 — Inter-segment Eliminations (1) — — — — — (266) — Total $ 2,407 $ 579 $ 742 $ 532 $ 23 $ 33,112 $ 1,029 (1) Eliminations are primarily related to intercompany loans.

Commitments and Contingent Liab

Commitments and Contingent Liabilities	9 Months Ended
	Sep. 30, 2024
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingent Liabilities	Commitments and Contingent Liabilities Guarantees We provide credit guarantees and residual value guarantees to third parties for financing and leasing associated with Caterpillar machinery. In addition, we provide standby letters of credit issued to third parties on behalf of our customers. These guarantees and standby letters of credit have varying terms and beneficiaries and are generally secured by customer assets. No significant loss has been experienced or is anticipated under any of these guarantees. At September 30, 2024 and December 31, 2023, the related recorded liability was less than $1 million. The maximum potential amount of future payments (undiscounted and without reduction for any amounts that may possibly be recovered under recourse or collateralized provisions) we could be required to make under the guarantees was $24 million and $25 million at September 30, 2024 and December 31, 2023, respectively. We provide guarantees to purchase certain loans of Caterpillar dealers from an SPC that qualifies as a VIE. We receive a fee for providing this guarantee. The purpose of the SPC is to provide short-term working capital loans to Caterpillar dealers. This SPC issues commercial paper and uses the proceeds to fund its loan program. We are the primary beneficiary of the SPC as our guarantees result in us having both the power to direct the activities that most significantly impact the SPC’s economic performance and the obligation to absorb losses and therefore we have consolidated the financial statements of the SPC. As of September 30, 2024 and December 31, 2023, the SPC’s assets of $1.31 billion and $1.35 billion, respectively, were primarily comprised of loans to dealers, which are included in Finance receivables, net in the Consolidated Statements of Financial Position, and the SPC’s liabilities of $1.31 billion and $1.35 billion, respectively, were primarily comprised of commercial paper, which is included in Short-term borrowings in the Consolidated Statements of Financial Position. The assets of the SPC are not available to pay our creditors. We may be obligated to perform under the guarantee if the SPC experiences losses. No loss has been experienced or is anticipated under this loan purchase agreement. Litigation and claims We are involved in unresolved legal actions that arise in the normal course of business. The aggregate range of reasonably possible losses in excess of accrued liabilities, if any, associated with these unresolved legal actions is not material. In some cases, we cannot reasonably estimate a range of loss because there is insufficient information regarding the matter. However, we believe there is no more than a remote chance that any liability arising from these matters would be material. Although it is not possible to predict with certainty the outcome of these unresolved legal actions, we believe that these actions will not individually or in the aggregate have a material adverse effect on our consolidated results of operations, financial position or liquidity.

Fair Value Disclosures

Fair Value Disclosures	9 Months Ended
	Sep. 30, 2024
Fair Value Disclosures [Abstract]
Fair Value Disclosures	Fair Value Disclosures Fair Value Measurements The guidance on fair value measurements defines fair value as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants. This guidance also specifies a fair value hierarchy based upon the observability of inputs used in valuation techniques. Observable inputs (highest level) reflect market data obtained from independent sources, while unobservable inputs (lowest level) reflect internally developed market assumptions. In accordance with this guidance, fair value measurements are classified under the following hierarchy: • Level 1 – Quoted prices for identical instruments in active markets. • Level 2 – Quoted prices for similar instruments in active markets; quoted prices for identical or similar instruments in markets that are not active; and model-derived valuations in which all significant inputs or significant value-drivers are observable in active markets. • Level 3 – Model-derived valuations in which one or more significant inputs or significant value-drivers are unobservable. When available, we use quoted market prices to determine fair value and we classify such measurements within Level 1. In some cases where market prices are not available, we make use of observable market-based inputs to calculate fair value, in which case the measurements are classified within Level 2. If quoted or observable market prices are not available, fair value is based upon valuations in which one or more significant inputs are unobservable, including internally developed models that use, where possible, current market-based parameters such as interest rates, yield curves and currency rates. These measurements are classified within Level 3. We classify fair value measurements according to the lowest level input or value-driver that is significant to the valuation. We may therefore classify a measurement within Level 3 even though there may be significant inputs that are readily observable. Fair value measurement includes the consideration of nonperformance risk. Nonperformance risk refers to the risk that an obligation (either by a counterparty or us) will not be fulfilled. For financial assets traded in an active market, the nonperformance risk is included in the market price. For certain other financial assets and liabilities, our fair value calculations have been adjusted accordingly. Derivative financial instruments The fair value of interest rate contracts is primarily based on a standard industry accepted valuation model that utilizes the appropriate market-based forward swap curves and zero-coupon interest rates to determine discounted cash flows. The fair value of foreign currency forward and cross currency contracts is based on standard industry accepted valuation models that discount cash flows resulting from the differential between the contract price and the market-based forward rate. Derivative financial instruments are measured on a recurring basis at fair value and are classified as Level 2 measurements. We had derivative financial instruments included in our Consolidated Statements of Financial Position in a net asset position of $46 million and $65 million as of September 30, 2024 and December 31, 2023, respectively. See Note 4 for additional information. Loans measured at fair value Certain loans are subject to measurement at fair value on a nonrecurring basis and are classified as Level 3 measurements. A loan is measured at fair value when management determines that collection of contractual amounts due is not probable and the loan is individually evaluated. In these cases, an allowance for credit losses may be established based either on the present value of expected future cash flows discounted at the receivables’ effective interest rate, the fair value of the collateral for collateral-dependent receivables or the observable market price of the receivable. In determining collateral value, we estimate the current fair market value of the collateral less selling costs. We had loans carried at fair value of $59 million and $55 million as of September 30, 2024 and December 31, 2023, respectively. Fair Values of Financial Instruments Cash and cash equivalents, restricted cash (included in Other Assets in the Consolidated Statements of Financial Position) and Short-term borrowings are classified as Level 1 measurements and carrying amount approximates fair value. We use the following methods and assumptions to estimate the fair value of our financial instruments not carried at fair value: • Finance receivables, net – We estimate fair value by discounting the future cash flows using current rates representative of receivables with similar remaining maturities. • Long-term debt – We estimate fair value for fixed and floating-rate debt based on quoted market prices. Fair values of our financial instruments not carried at fair value were as follows: (Millions of dollars) September 30, 2024 December 31, 2023 Carrying Fair Carrying Fair Fair Reference Assets Finance receivables, net (excluding finance leases (1) ) $ 22,024 $ 21,691 $ 20,746 $ 20,330 3 Note 3 Liabilities Long-term debt $ 25,496 $ 25,472 $ 23,612 $ 23,299 2 (1) Represents finance leases and failed sale leasebacks of $7.13 billion and $7.00 billion as of September 30, 2024 and December 31, 2023, respectively.

Income Taxes

Income Taxes	9 Months Ended
	Sep. 30, 2024
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes For interim periods, we estimate an annual effective tax rate, which is applied to our year-to-date ordinary income. Tax effects of significant unusual or infrequently occurring items are excluded from the estimated annual effective tax rate calculation and are recognized in the period in which they occur. The effective tax rate for the nine months ended September 30, 2024 was negatively impacted by the $210 million loss on divestiture of a non-U.S. entity which had no related tax benefit (see Note 10). The effective tax rate for the three and nine months ended September 30, 2023 includes a discrete tax expense of $27 million for the repatriation of non-U.S. earnings and the change in the reinvestment position of a non-U.S. subsidiary.

Divestiture

Divestiture	9 Months Ended
	Sep. 30, 2024
Discontinued Operations and Disposal Groups [Abstract]
Divestiture	Divestiture We divested a non-U.S. entity on June 13, 2024 and recognized a pre-tax loss of approximately $210 million. The loss on divestiture is included within Other income (expense) in the Consolidated Statements of Profit. The proceeds were allocated in accordance with the sales agreement and agreement with Caterpillar.

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Pay vs Performance Disclosure
Net Income (Loss) Attributable to Parent	$ 137	$ 98	$ 241	$ 397

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Sep. 30, 2024
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Basis of Presentation (Policies

Basis of Presentation (Policies)	9 Months Ended
	Sep. 30, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	In the opinion of management, the accompanying unaudited consolidated financial statements include all adjustments, consisting only of normal recurring adjustments, necessary for a fair statement of (a) the consolidated profit for the three and nine months ended September 30, 2024 and 2023, (b) the consolidated comprehensive income (loss) for the three and nine months ended September 30, 2024 and 2023, (c) the consolidated financial position at September 30, 2024 and December 31, 2023, (d) the consolidated changes in shareholder’s equity for the three and nine months ended September 30, 2024 and 2023 and (e) the consolidated cash flows for the nine months ended September 30, 2024 and 2023. The preparation of financial statements, in conformity with generally accepted accounting principles and pursuant to the rules and regulations of the Securities and Exchange Commission (SEC), requires management to make estimates and assumptions that affect the reported amounts. Significant estimates include residual values for leased assets, allowance for credit losses and income taxes. Actual results may differ from these estimates. Interim results are not necessarily indicative of results for a full year. The information included in this Form 10-Q should be read in conjunction with the audited consolidated financial statements and notes thereto included in our annual report on Form 10-K for the year ended December 31, 2023 (2023 Form 10-K). The December 31, 2023 financial position data included herein was derived from the audited consolidated financial statements included in the 2023 Form 10-K but does not include all disclosures required by generally accepted accounting principles. We consolidate all variable interest entities (VIEs) where we are the primary beneficiary. For VIEs, we assess whether we are the primary beneficiary as prescribed by the accounting guidance on the consolidation of VIEs. Please refer to Note 7 for more information. We have customers and dealers that are VIEs of which we are not the primary beneficiary. Our maximum exposure to loss from our involvement with these VIEs is limited to the credit risk inherently present in the financial support that we have provided. Credit risk was evaluated and reflected in our financial statements as part of our overall portfolio of finance receivables and related allowance for credit losses.
Segments	The Chief Operating Decision Maker (the CEO) allocates resources and manages performance for our six operating segments described below. Our operating segments provide financing alternatives to customers and dealers around the world for Caterpillar products and services and power generation facilities that, in most cases, incorporate Caterpillar products. Financing plans include operating and finance leases, revolving charge accounts, retail loans, working capital loans to Caterpillar dealers and wholesale financing plans within each of the operating segments. Certain operating segments also purchase short-term trade receivables from Caterpillar. B. Description of Segments We have six operating segments that offer financing services. Following is a brief description of our segments: • North America - Includes our operations in the United States and Canada. • EAME - Includes our operations in Europe, Africa, the Middle East and Eurasia. • Asia/Pacific - Includes our operations in Australia, New Zealand, China, Japan, Southeast Asia and India. • Latin America - Includes our operations in Mexico and Central and South American countries. • Mining - Provides financing for large mining customers worldwide. • Power - Provides financing worldwide for Caterpillar electrical power generation, gas compression and co-generation systems and non-Caterpillar equipment that is powered by these systems. C. Segment Measurement and Reconciliations Cash, debt and other expenses are allocated to our segments based on their respective portfolios. The related Interest expense is calculated based on the amount of allocated debt and the rates associated with that debt. The performance of each segment is assessed based on a consistent leverage ratio. The Provision for credit losses is based on each segment’s respective finance receivable portfolio. Capital expenditures include expenditures for equipment on operating leases and other miscellaneous capital expenditures. Reconciling items are created based on accounting differences between segment reporting and consolidated external reporting. For the reconciliation of Profit before income taxes, we have grouped the reconciling items as follows: • Unallocated - Corporate requirements and strategies that are considered to be for the benefit of the entire organization. Also included are the consolidated results of the special-purpose corporation (SPC) (see Note 7 for additional information) and other miscellaneous items. • Timing - Timing differences in the recognition of costs between segment reporting and consolidated external reporting. • Methodology - Methodology differences between segment reporting and consolidated external reporting are as follows: ◦ Segment assets include off-balance sheet managed assets for which we maintain servicing responsibilities. ◦ The impact of differences between the actual leverage and the segment leverage ratios. ◦ Interest expense includes realized forward points on foreign currency forward contracts. ◦ The net gain or loss from interest rate derivatives is excluded from segment reporting. • Divestiture - Loss on divestiture included in Other income (expense). See Note 10 for more information.
Fair Value Disclosures	The guidance on fair value measurements defines fair value as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants. This guidance also specifies a fair value hierarchy based upon the observability of inputs used in valuation techniques. Observable inputs (highest level) reflect market data obtained from independent sources, while unobservable inputs (lowest level) reflect internally developed market assumptions. In accordance with this guidance, fair value measurements are classified under the following hierarchy: • Level 1 – Quoted prices for identical instruments in active markets. • Level 2 – Quoted prices for similar instruments in active markets; quoted prices for identical or similar instruments in markets that are not active; and model-derived valuations in which all significant inputs or significant value-drivers are observable in active markets. • Level 3 – Model-derived valuations in which one or more significant inputs or significant value-drivers are unobservable. When available, we use quoted market prices to determine fair value and we classify such measurements within Level 1. In some cases where market prices are not available, we make use of observable market-based inputs to calculate fair value, in which case the measurements are classified within Level 2. If quoted or observable market prices are not available, fair value is based upon valuations in which one or more significant inputs are unobservable, including internally developed models that use, where possible, current market-based parameters such as interest rates, yield curves and currency rates. These measurements are classified within Level 3. We classify fair value measurements according to the lowest level input or value-driver that is significant to the valuation. We may therefore classify a measurement within Level 3 even though there may be significant inputs that are readily observable. Fair value measurement includes the consideration of nonperformance risk. Nonperformance risk refers to the risk that an obligation (either by a counterparty or us) will not be fulfilled. For financial assets traded in an active market, the nonperformance risk is included in the market price. For certain other financial assets and liabilities, our fair value calculations have been adjusted accordingly. Derivative financial instruments The fair value of interest rate contracts is primarily based on a standard industry accepted valuation model that utilizes the appropriate market-based forward swap curves and zero-coupon interest rates to determine discounted cash flows. The fair value of foreign currency forward and cross currency contracts is based on standard industry accepted valuation models that discount cash flows resulting from the differential between the contract price and the market-based forward rate. Derivative financial instruments are measured on a recurring basis at fair value and are classified as Level 2 measurements. We had derivative financial instruments included in our Consolidated Statements of Financial Position in a net asset position of $46 million and $65 million as of September 30, 2024 and December 31, 2023, respectively. See Note 4 for additional information. Loans measured at fair value Certain loans are subject to measurement at fair value on a nonrecurring basis and are classified as Level 3 measurements. A loan is measured at fair value when management determines that collection of contractual amounts due is not probable and the loan is individually evaluated. In these cases, an allowance for credit losses may be established based either on the present value of expected future cash flows discounted at the receivables’ effective interest rate, the fair value of the collateral for collateral-dependent receivables or the observable market price of the receivable. In determining collateral value, we estimate the current fair market value of the collateral less selling costs. We had loans carried at fair value of $59 million and $55 million as of September 30, 2024 and December 31, 2023, respectively. Cash and cash equivalents, restricted cash (included in Other Assets in the Consolidated Statements of Financial Position) and Short-term borrowings are classified as Level 1 measurements and carrying amount approximates fair value. We use the following methods and assumptions to estimate the fair value of our financial instruments not carried at fair value: • Finance receivables, net – We estimate fair value by discounting the future cash flows using current rates representative of receivables with similar remaining maturities. • Long-term debt –
Adoption of New Accounting Standards and Accounting Standards Issued But Not Yet Adopted	Adoption of New Accounting Standards We consider the applicability and impact of all Accounting Standards Updates (ASUs). We adopted the following ASU effective January 1, 2024, which did not have a material impact on our financial statements: ASU Description 2023-01 Leases: Common control arrangements B. Accounting Standards Issued But Not Yet Adopted Segment reporting (ASU 2023-07) - In November 2023, the Financial Accounting Standards Board (FASB) issued accounting guidance that requires incremental disclosures related to reportable segments which includes significant segment expense categories and amounts for each reportable segment. The expanded annual disclosures are effective for our year ending December 31, 2024, and the expanded interim disclosures are effective in 2025 and will be applied retrospectively to all prior periods presented. Income tax reporting (ASU 2023-09) - In December 2023, the FASB issued accounting guidance to expand the annual disclosure requirements for income taxes, primarily related to the rate reconciliation and income taxes paid. This guidance is effective January 1, 2025, with early adoption permitted. This guidance can be applied prospectively or retrospectively. We are in the process of evaluating the effect of this new guidance on the related disclosures. All other ASUs issued but not yet adopted were assessed and we determined that they either were not applicable or were not expected to have a material impact on our financial statements.

Finance Receivables (Tables)

Finance Receivables (Tables)	9 Months Ended
	Sep. 30, 2024
Receivables [Abstract]
Summary of Finance Receivables Included in the Consolidated Statements of Financial Position	A summary of finance receivables included in the Consolidated Statements of Financial Position was as follows: (Millions of dollars) September 30, December 31, Retail loans (1) $ 17,314 $ 16,501 Retail leases 6,591 6,554 Caterpillar purchased receivables 4,314 3,949 Wholesale loans (1) 1,184 1,069 Wholesale leases 2 4 Total finance receivables 29,405 28,077 Less: Allowance for credit losses (255) (331) Total finance receivables, net $ 29,150 $ 27,746 (1) Includes failed sale leasebacks.
Allowance for Credit Losses and Total Finance Receivables	An analysis of the allowance for credit losses was as follows: (Millions of dollars) Three Months Ended September 30, 2024 Three Months Ended September 30, 2023 Customer Dealer Caterpillar Total Customer Dealer Caterpillar Total Beginning Balance $ 246 $ 4 $ 4 $ 254 $ 265 $ 50 $ 5 $ 320 Write-offs (42) — — (42) (22) — — (22) Recoveries 15 — — 15 13 — — 13 Provision for credit losses (1) 25 — 1 26 31 1 — 32 Other 2 — — 2 (3) — — (3) Ending Balance $ 246 $ 4 $ 5 $ 255 $ 284 $ 51 $ 5 $ 340 Nine Months Ended September 30, 2024 Nine Months Ended September 30, 2023 Customer Dealer Caterpillar Total Customer Dealer Caterpillar Total Beginning Balance $ 276 $ 51 $ 4 $ 331 $ 277 $ 65 $ 4 $ 346 Write-offs (98) (47) — (145) (63) — — (63) Recoveries 45 — — 45 36 — — 36 Provision for credit losses (1) 49 — 1 50 35 (14) 1 22 Other (26) — — (26) (1) — — (1) Ending Balance $ 246 $ 4 $ 5 $ 255 $ 284 $ 51 $ 5 $ 340 Finance Receivables $ 22,189 $ 2,902 $ 4,314 $ 29,405 $ 20,279 $ 2,882 $ 4,381 $ 27,542 (1) Excludes provision for credit losses on unfunded commitments and other miscellaneous receivables.
Write-offs by Origination Year	Gross write-offs by origination year for our Customer portfolio segment were as follows: (Millions of dollars) Three Months Ended September 30, 2024 2024 2023 2022 2021 2020 Prior Revolving Finance Receivables Total North America $ — $ 5 $ 4 $ 2 $ 1 $ — $ 2 $ 14 EAME — — 1 1 1 — — 3 Asia/Pacific — 2 1 — — 1 — 4 Mining 8 3 3 — — — — 14 Latin America — 2 2 1 2 — — 7 Total $ 8 $ 12 $ 11 $ 4 $ 4 $ 1 $ 2 $ 42 Three Months Ended September 30, 2023 2023 2022 2021 2020 2019 Prior Revolving Finance Receivables Total North America $ 1 $ 2 $ 2 $ 1 $ 1 $ — $ 2 $ 9 EAME — 1 1 1 — — — 3 Asia/Pacific — 2 3 1 — — — 6 Latin America — 1 1 1 — 1 — 4 Total $ 1 $ 6 $ 7 $ 4 $ 1 $ 1 $ 2 $ 22 Nine Months Ended September 30, 2024 2024 2023 2022 2021 2020 Prior Revolving Finance Receivables Total North America $ — $ 13 $ 10 $ 5 $ 2 $ 1 $ 8 $ 39 EAME — 2 3 3 2 — — 10 Asia/Pacific — 4 4 3 1 1 — 13 Mining 8 3 3 — — — — 14 Latin America — 2 5 4 3 8 — 22 Total $ 8 $ 24 $ 25 $ 15 $ 8 $ 10 $ 8 $ 98 Nine Months Ended September 30, 2023 2023 2022 2021 2020 2019 Prior Revolving Finance Receivables Total North America $ 1 $ 7 $ 7 $ 2 $ 2 $ 1 $ 9 $ 29 EAME — 2 3 3 — 1 — 9 Asia/Pacific — 3 6 4 1 — — 14 Latin America — 3 3 3 1 1 — 11 Total $ 1 $ 15 $ 19 $ 12 $ 4 $ 3 $ 9 $ 63
Amortized Cost of Finance Receivables in the Customer Portfolio Segment by Origination Year	The aging category of the amortized cost of finance receivables in our Customer portfolio segment by origination year were as follows: (Millions of dollars) September 30, 2024 2024 2023 2022 2021 2020 Prior Revolving Total North America Current $ 3,959 $ 3,389 $ 1,821 $ 1,210 $ 347 $ 63 $ 360 $ 11,149 31-60 days past due 24 43 36 23 8 2 3 139 61-90 days past due 6 13 10 5 2 1 1 38 91+ days past due 6 31 27 16 7 3 1 91 EAME Current 998 1,040 646 351 130 103 — 3,268 31-60 days past due 7 16 12 6 2 — — 43 61-90 days past due 2 7 3 2 1 — — 15 91+ days past due 4 21 12 17 6 2 — 62 Asia/Pacific Current 881 821 415 178 47 11 51 2,404 31-60 days past due 6 10 7 3 1 — — 27 61-90 days past due 1 3 3 2 — — — 9 91+ days past due 1 2 3 2 1 — — 9 Mining Current 844 865 515 258 86 54 24 2,646 31-60 days past due — — — — — — — — 61-90 days past due 9 7 6 1 — — — 23 91+ days past due — 1 1 1 — 5 — 8 Latin America Current 680 468 290 89 14 6 — 1,547 31-60 days past due 3 7 6 2 — — — 18 61-90 days past due — 2 2 1 — 1 — 6 91+ days past due 1 5 8 4 2 1 — 21 Power Current 83 183 46 48 66 76 161 663 31-60 days past due — — — — — — — — 61-90 days past due — — — — — — — — 91+ days past due — — — — — 3 — 3 Totals by Aging Category Current 7,445 6,766 3,733 2,134 690 313 596 21,677 31-60 days past due 40 76 61 34 11 2 3 227 61-90 days past due 18 32 24 11 3 2 1 91 91+ days past due 12 60 51 40 16 14 1 194 Total $ 7,515 $ 6,934 $ 3,869 $ 2,219 $ 720 $ 331 $ 601 $ 22,189 (Millions of dollars) December 31, 2023 2023 2022 2021 2020 2019 Prior Revolving Total North America Current $ 4,430 $ 2,628 $ 2,000 $ 745 $ 220 $ 32 $ 312 $ 10,367 31-60 days past due 28 31 24 14 7 1 4 109 61-90 days past due 10 11 8 4 1 — 2 36 91+ days past due 12 23 18 9 4 1 2 69 EAME Current 1,336 895 588 258 111 105 — 3,293 31-60 days past due 10 9 7 3 1 — — 30 61-90 days past due 4 3 3 1 1 — — 12 91+ days past due 7 17 15 8 3 1 — 51 Asia/Pacific Current 1,134 690 368 115 37 7 45 2,396 31-60 days past due 5 7 8 2 — — — 22 61-90 days past due 2 3 3 2 — — — 10 91+ days past due 1 5 3 3 1 — — 13 Mining Current 1,106 694 396 126 86 27 66 2,501 31-60 days past due — — — — — — — — 61-90 days past due — — — — 1 1 — 2 91+ days past due — — 1 — — 1 — 2 Latin America Current 750 520 219 59 23 6 — 1,577 31-60 days past due 9 10 6 1 — — — 26 61-90 days past due 2 4 1 — — — — 7 91+ days past due 2 10 8 5 8 11 — 44 Power Current 152 52 65 75 42 59 162 607 31-60 days past due — — — — — — — — 61-90 days past due — — — — — — — — 91+ days past due — — — — — 3 — 3 Totals by Aging Category Current 8,908 5,479 3,636 1,378 519 236 585 20,741 31-60 days past due 52 57 45 20 8 1 4 187 61-90 days past due 18 21 15 7 3 1 2 67 91+ days past due 22 55 45 25 16 17 2 182 Total $ 9,000 $ 5,612 $ 3,741 $ 1,430 $ 546 $ 255 $ 593 $ 21,177
Aging Related to Finance Receivables	The aging category of our amortized cost of finance receivables in the Caterpillar Purchased Receivables portfolio segment were as follows: (Millions of dollars) September 30, 2024 31-60 61-90 91+ Total Current Total Finance North America $ 10 $ 5 $ 5 $ 20 $ 2,476 $ 2,496 EAME 2 2 3 7 811 818 Asia/Pacific — — — — 600 600 Latin America — — — — 366 366 Power 5 1 — 6 28 34 Total $ 17 $ 8 $ 8 $ 33 $ 4,281 $ 4,314 December 31, 2023 31-60 61-90 91+ Total Current Total Finance North America $ 15 $ 5 $ 4 $ 24 $ 2,212 $ 2,236 EAME 3 1 1 5 732 737 Asia/Pacific 2 — — 2 593 595 Latin America 1 4 18 23 348 371 Power — — — — 10 10 Total $ 21 $ 10 $ 23 $ 54 $ 3,895 $ 3,949
Finance Receivables on Non-Accrual Status	In our Customer portfolio segment, finance receivables which were on non-accrual status and finance receivables over 90 days past due and still accruing income were as follows: (Millions of dollars) September 30, 2024 December 31, 2023 Amortized Cost Amortized Cost Non-accrual 91+ Still Non-accrual 91+ Still North America $ 78 $ 15 $ 52 $ 20 EAME 62 3 34 18 Asia/Pacific 7 4 8 5 Mining 31 — 2 — Latin America 25 — 48 1 Power 3 — 8 — Total $ 206 $ 22 $ 152 $ 44

Derivative Financial Instrume_2

Derivative Financial Instruments and Risk Management (Tables)	9 Months Ended
	Sep. 30, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Location and Fair Value of Derivative Instruments Reported in the Consolidated Statements of Financial Position	The location and fair value of derivative instruments reported in the Consolidated Statements of Financial Position were as follows: (Millions of dollars) September 30, 2024 December 31, 2023 Assets 1 Liabilities 2 Assets 1 Liabilities 2 Designated derivatives Foreign exchange contracts $ 179 $ (91) $ 207 $ (73) Interest rate contracts 43 (28) 50 (68) $ 222 $ (119) $ 257 $ (141) Undesignated derivatives Foreign exchange contracts $ 22 $ (79) $ 28 $ (79) $ 22 $ (79) $ 28 $ (79) (1) Assets are classified in the Consolidated Statements of Financial Position as Other assets. (2) Liabilities are classified in the Consolidated Statements of Financial Position as Accrued expenses.
Schedule of Gains (Losses) on Derivatives Instruments	Gains (Losses) on derivative instruments are categorized as follows: (Millions of dollars) Fair Value / Cash Flow Hedges Gains (Losses) Recognized 1 Gains (Losses) Gains (Losses) Reclassified from AOCI 2 Three Months Ended September 30, 2024 2023 2024 2023 2024 2023 Foreign exchange contracts $ (65) $ 22 $ (41) $ 76 $ (53) $ 70 Interest rate contracts (23) (20) (9) 3 9 15 $ (88) $ 2 $ (50) $ 79 $ (44) $ 85 Nine Months Ended September 30, 2024 2023 2024 2023 2024 2023 Foreign exchange contracts $ 15 $ 21 $ 126 $ 59 $ 103 $ 38 Interest rate contracts (64) (53) 6 15 39 43 $ (49) $ (32) $ 132 $ 74 $ 142 $ 81 (1) Foreign exchange contract gains (losses) are primarily from undesignated forward contracts and are included in Other income (expense). Interest rate contract gains (losses) are from designated fair value hedges and are included in Interest expense. (2) Foreign exchange contract gains (losses) are primarily included in Other income (expense). Interest rate contract gains (losses) are included in Interest expense.
Schedule of Amounts Recorded in the Consolidated Statements of Financial Position Related to Cumulative Basis Adjustments for Fair Value Hedges	The amounts recorded in the Consolidated Statements of Financial Position related to cumulative basis adjustments for fair value hedges were as follows: (Millions of dollars) Carrying Value of Cumulative Amount of Fair Value September 30, 2024 December 31, 2023 September 30, 2024 December 31, 2023 Current maturities of long-term debt $ 948 $ 982 $ (2) $ (23) Long-term debt 2,873 2,128 27 (23) Total $ 3,821 $ 3,110 $ 25 $ (46)
Schedule of Effect of Net Settlement Provisions of the Master Netting Agreements on our Derivative Balances	The effects of net settlement provisions of the master netting agreements on our derivative balances upon an event of default or a termination event were as follows: (Millions of dollars) September 30, 2024 December 31, 2023 Assets Liabilities Assets Liabilities Gross amounts recognized $ 244 $ (198) $ 285 $ (220) Financial instruments not offset (93) 93 (106) 106 Net amount $ 151 $ (105) $ 179 $ (114)

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Income (Loss) (Tables)	9 Months Ended
	Sep. 30, 2024
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]
Schedule of Accumulated Other Comprehensive Income (Loss)	We present Comprehensive income (loss) and its components in the Consolidated Statements of Comprehensive Income (Loss). Changes in the balances for each component of AOCI were as follows: (Millions of dollars) Three Months Ended Nine Months Ended 2024 2023 2024 2023 Foreign currency translation Balance at beginning of period $ (1,096) $ (1,059) $ (996) $ (1,068) Gains (losses) on foreign currency translation 151 (89) 5 (89) Less: Tax provision/(benefit) (22) 13 (7) 4 Net gains (losses) on foreign currency translation 173 (102) 12 (93) (Gains) losses reclassified to earnings — — 61 — Less: Tax provision/(benefit) — — — — Net (gains) losses reclassified to earnings — — 61 — Other comprehensive income (loss), net of tax 173 (102) 73 (93) Balance at end of period $ (923) $ (1,161) $ (923) $ (1,161) Derivative financial instruments Balance at beginning of period $ 14 $ 21 $ 18 $ 21 Gains (losses) deferred (50) 79 132 74 Less: Tax provision/(benefit) (5) 20 41 18 Net gains (losses) deferred (45) 59 91 56 (Gains) losses reclassified to earnings 44 (85) (142) (81) Less: Tax (provision)/benefit 6 (22) (40) (21) Net (gains) losses reclassified to earnings 38 (63) (102) (60) Other comprehensive income (loss), net of tax (7) (4) (11) (4) Balance at end of period $ 7 $ 17 $ 7 $ 17 Total Accumulated other comprehensive income (loss) at end of period $ (916) $ (1,144) $ (916) $ (1,144)

Segment Information (Tables)

Segment Information (Tables)	9 Months Ended
	Sep. 30, 2024
Segment Reporting [Abstract]
Segment Information	Supplemental segment data and reconciliations to consolidated external reporting for the three months ended September 30 were as follows: (Millions of dollars) 2024 External Profit Interest Depreciation Provision Assets at September 30, 2024 Capital North America $ 513 $ 159 $ 165 $ 128 $ 9 $ 17,353 $ 197 EAME 98 23 39 14 1 4,998 20 Asia/Pacific 68 24 25 1 — 3,498 4 Latin America 83 32 38 3 (3) 2,531 3 Mining 94 11 28 33 11 3,366 30 Power 16 3 9 1 1 747 — Total Segments 872 252 304 180 19 32,493 254 Unallocated 21 (160) 128 — — 1,997 10 Timing (5) (1) — — — (18) — Methodology — 91 (96) — — 113 — Divestiture — — — — — — — Inter-segment Eliminations (1) — — — — — (259) — Total $ 888 $ 182 $ 336 $ 180 $ 19 $ 34,326 $ 264 2023 External Profit Interest Depreciation Provision Assets at Capital North America $ 459 $ 144 $ 128 $ 130 $ 10 $ 16,303 $ 274 EAME 102 35 26 14 1 5,117 14 Asia/Pacific 70 19 32 2 1 3,435 — Latin America 95 15 48 3 13 2,583 3 Mining 86 17 23 32 5 3,059 49 Power 15 (1) 7 1 4 662 — Total Segments 827 229 264 182 34 31,159 340 Unallocated 23 (137) 108 — 1 2,054 1 Timing (4) 1 — — — 20 — Methodology — 77 (92) — — 145 — Inter-segment Eliminations (1) — — — — — (266) — Total $ 846 $ 170 $ 280 $ 182 $ 35 $ 33,112 $ 341 (1) Eliminations are primarily related to intercompany loans. Supplemental segment data and reconciliations to consolidated external reporting for the nine months ended September 30 were as follows: (Millions of dollars) 2024 External Profit Interest Depreciation Provision Assets at September 30, 2024 Capital North America $ 1,491 $ 451 $ 460 $ 385 $ 43 $ 17,353 $ 608 EAME 283 75 108 41 (11) 4,998 39 Asia/Pacific 202 70 73 3 (2) 3,498 8 Latin America 252 84 116 10 — 2,531 15 Mining 279 55 77 100 16 3,366 129 Power 46 27 24 2 (14) 747 — Total Segments 2,553 762 858 541 32 32,493 799 Unallocated 65 (406) 360 — — 1,997 18 Timing (12) — — — — (18) — Methodology — 247 (269) — — 113 — Divestiture — (210) — — — — — Inter-segment Eliminations (1) — — — — — (259) — Total $ 2,606 $ 393 $ 949 $ 541 $ 32 $ 34,326 $ 817 2023 External Profit Interest Depreciation Provision Assets at Capital North America $ 1,313 $ 447 $ 331 $ 380 $ 17 $ 16,303 $ 789 EAME 274 79 72 43 3 5,117 50 Asia/Pacific 213 86 78 4 (3) 3,435 2 Latin America 264 81 132 9 (2) 2,583 13 Mining 253 76 56 94 (2) 3,059 168 Power 43 3 19 2 9 662 — Total Segments 2,360 772 688 532 22 31,159 1,022 Unallocated 58 (378) 279 — 1 2,054 7 Timing (11) 1 — — — 20 — Methodology — 184 (225) — — 145 — Inter-segment Eliminations (1) — — — — — (266) — Total $ 2,407 $ 579 $ 742 $ 532 $ 23 $ 33,112 $ 1,029 (1) Eliminations are primarily related to intercompany loans.

Fair Value Disclosures (Tables)

Fair Value Disclosures (Tables)	9 Months Ended
	Sep. 30, 2024
Fair Value Disclosures [Abstract]
Summary of Fair Value of Financial Instruments	Fair values of our financial instruments not carried at fair value were as follows: (Millions of dollars) September 30, 2024 December 31, 2023 Carrying Fair Carrying Fair Fair Reference Assets Finance receivables, net (excluding finance leases (1) ) $ 22,024 $ 21,691 $ 20,746 $ 20,330 3 Note 3 Liabilities Long-term debt $ 25,496 $ 25,472 $ 23,612 $ 23,299 2 (1) Represents finance leases and failed sale leasebacks of $7.13 billion and $7.00 billion as of September 30, 2024 and December 31, 2023, respectively.

Finance Receivables - Summary o

Finance Receivables - Summary of Finance Receivables Included in the Consolidated Statements of Financial Position (Details) - USD ($) $ in Millions	Sep. 30, 2024	Jun. 30, 2024	Dec. 31, 2023	Sep. 30, 2023	Jun. 30, 2023	Dec. 31, 2022
Accounts, Notes, Loans and Financing Receivable
Total Finance Receivables	$ 29,405		$ 28,077	$ 27,542
Less: Allowance for credit losses	(255)	$ (254)	(331)	$ (340)	$ (320)	$ (346)
Total finance receivables, net	29,150		27,746
Retail loans
Accounts, Notes, Loans and Financing Receivable
Total Finance Receivables	17,314		16,501
Retail leases
Accounts, Notes, Loans and Financing Receivable
Total Finance Receivables	6,591		6,554
Caterpillar Purchased Receivables
Accounts, Notes, Loans and Financing Receivable
Total Finance Receivables	4,314		3,949
Wholesale loans
Accounts, Notes, Loans and Financing Receivable
Total Finance Receivables	1,184		1,069
Wholesale leases
Accounts, Notes, Loans and Financing Receivable
Total Finance Receivables	$ 2		$ 4

Finance Receivables - Narrative

Finance Receivables - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023
Accounts, Notes, Loans and Financing Receivable
Finance lease revenue	$ 110	$ 106	$ 323	$ 314
Financing receivable, average term	51 months		51 months
Financing receivable, average remaining term	27 months		27 months
Financing receivable, write-off	$ 42	22	$ 145	63
Period after which unpaid installments are considered as past due	30 days		30 days
Payment Deferral
Accounts, Notes, Loans and Financing Receivable
Financing receivable, modified in period, maximum period			4 months
Extended Maturity
Accounts, Notes, Loans and Financing Receivable
Financing receivable, modified in period, maximum period			6 months
Dealer
Accounts, Notes, Loans and Financing Receivable
Financing receivable, write-off	$ 0	0	$ 47	0
Financing receivable, nonaccrual	0		0
Financing receivable, modified in period	0	0	0	0
Dealer | Latin America
Accounts, Notes, Loans and Financing Receivable
Financing receivable, gross write-offs			47
Prior to 2019					$ 47
Financing receivable, nonaccrual					47
Caterpillar Purchased Receivables
Accounts, Notes, Loans and Financing Receivable
Financing receivable, write-off	0	0	0	0
Financing receivable, modified in period	0	0	0	0
Customer
Accounts, Notes, Loans and Financing Receivable
Financing receivable, write-off	42	22	98	63
Financing receivable, gross write-offs	1	1	10	3
Prior to 2019	331		331		255
Financing receivable, nonaccrual	206		206		152
Financing receivable, modified in period	$ 6	$ 13	$ 12	$ 38
Financing receivable, modified in period, percentage	0.03%	0.05%	0.05%	0.14%
Financing receivable, modified, average term increase	5 months	8 months	8 months	17 months
Financing receivable, modified, average payment delay	4 months	6 months	6 months	7 months
Customer | Latin America
Accounts, Notes, Loans and Financing Receivable
Financing receivable, write-off	$ 7	$ 4	$ 22	$ 11
Financing receivable, gross write-offs	0	$ 1	8	$ 1
Financing receivable, nonaccrual	$ 25		$ 25		$ 48

Finance Receivables - Allowance

Finance Receivables - Allowance for Credit Losses and Total Finance Receivables (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Beginning Balance	$ 254	$ 320	$ 331	$ 346
Write-offs	(42)	(22)	(145)	(63)
Recoveries	15	13	45	36
Provision for credit losses	26	32	50	22
Other	2	(3)	(26)	(1)
Ending Balance	255	340	255	340
Total Finance Receivables	29,405	27,542	29,405	27,542	$ 28,077
Customer
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Beginning Balance	246	265	276	277
Write-offs	(42)	(22)	(98)	(63)
Recoveries	15	13	45	36
Provision for credit losses	25	31	49	35
Other	2	(3)	(26)	(1)
Ending Balance	246	284	246	284
Total Finance Receivables	22,189	20,279	22,189	20,279	21,177
Dealer
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Beginning Balance	4	50	51	65
Write-offs	0	0	(47)	0
Recoveries	0	0	0	0
Provision for credit losses	0	1	0	(14)
Other	0	0	0	0
Ending Balance	4	51	4	51
Total Finance Receivables	2,902	2,882	2,902	2,882
Caterpillar Purchased Receivables
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Beginning Balance	4	5	4	4
Write-offs	0	0	0	0
Recoveries	0	0	0	0
Provision for credit losses	1	0	1	1
Other	0	0	0	0
Ending Balance	5	5	5	5
Total Finance Receivables	$ 4,314	$ 4,381	$ 4,314	$ 4,381	$ 3,949

Finance Receivables - Write-off

Finance Receivables - Write-offs by Origination Year (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Write-offs by origination year [Line Items]
Total	$ 42	$ 22	$ 145	$ 63
Customer
Write-offs by origination year [Line Items]
2024 and 2023, respectively	8	1	8	1
2023 and 2022, respectively	12	6	24	15
2022 and 2021, respectively	11	7	25	19
2021 and 2020, respectively	4	4	15	12
2020 and 2019, respectively	4	1	8	4
Prior	1	1	10	3
Revolving Finance Receivables	2	2	8	9
Total	42	22	98	63
Customer | North America
Write-offs by origination year [Line Items]
2024 and 2023, respectively	0	1	0	1
2023 and 2022, respectively	5	2	13	7
2022 and 2021, respectively	4	2	10	7
2021 and 2020, respectively	2	1	5	2
2020 and 2019, respectively	1	1	2	2
Prior	0	0	1	1
Revolving Finance Receivables	2	2	8	9
Total	14	9	39	29
Customer | EAME
Write-offs by origination year [Line Items]
2024 and 2023, respectively	0	0	0	0
2023 and 2022, respectively	0	1	2	2
2022 and 2021, respectively	1	1	3	3
2021 and 2020, respectively	1	1	3	3
2020 and 2019, respectively	1	0	2	0
Prior	0	0	0	1
Revolving Finance Receivables	0	0	0	0
Total	3	3	10	9
Customer | Asia/Pacific
Write-offs by origination year [Line Items]
2024 and 2023, respectively	0	0	0	0
2023 and 2022, respectively	2	2	4	3
2022 and 2021, respectively	1	3	4	6
2021 and 2020, respectively	0	1	3	4
2020 and 2019, respectively	0	0	1	1
Prior	1	0	1	0
Revolving Finance Receivables	0	0	0	0
Total	4	6	13	14
Customer | Mining
Write-offs by origination year [Line Items]
2024 and 2023, respectively	8		8
2023 and 2022, respectively	3		3
2022 and 2021, respectively	3		3
2021 and 2020, respectively	0		0
2020 and 2019, respectively	0		0
Prior	0		0
Revolving Finance Receivables	0		0
Total	14		14
Customer | Latin America
Write-offs by origination year [Line Items]
2024 and 2023, respectively	0	0	0	0
2023 and 2022, respectively	2	1	2	3
2022 and 2021, respectively	2	1	5	3
2021 and 2020, respectively	1	1	4	3
2020 and 2019, respectively	2	0	3	1
Prior	0	1	8	1
Revolving Finance Receivables	0	0	0	0
Total	$ 7	$ 4	$ 22	$ 11

Finance Receivables - Amortized

Finance Receivables - Amortized Cost of Finance Receivables in the Customer Portfolio Segment by Origination Year (Details) - USD ($) $ in Millions	Sep. 30, 2024	Dec. 31, 2023	Sep. 30, 2023
Financing Receivable, Credit Quality Indicator
Total Finance Receivables	$ 29,405	$ 28,077	$ 27,542
Customer
Financing Receivable, Credit Quality Indicator
2024 and 2023, respectively	7,515	9,000
2023 and 2022, respectively	6,934	5,612
2022 and 2021, respectively	3,869	3,741
2021 and 2020, respectively	2,219	1,430
2020 and 2019, respectively	720	546
Prior	331	255
Revolving Finance Receivables	601	593
Total Finance Receivables	22,189	21,177	$ 20,279
Customer | Current
Financing Receivable, Credit Quality Indicator
2024 and 2023, respectively	7,445	8,908
2023 and 2022, respectively	6,766	5,479
2022 and 2021, respectively	3,733	3,636
2021 and 2020, respectively	2,134	1,378
2020 and 2019, respectively	690	519
Prior	313	236
Revolving Finance Receivables	596	585
Total Finance Receivables	21,677	20,741
Customer | 31-60 days past due
Financing Receivable, Credit Quality Indicator
2024 and 2023, respectively	40	52
2023 and 2022, respectively	76	57
2022 and 2021, respectively	61	45
2021 and 2020, respectively	34	20
2020 and 2019, respectively	11	8
Prior	2	1
Revolving Finance Receivables	3	4
Total Finance Receivables	227	187
Customer | 61-90 days past due
Financing Receivable, Credit Quality Indicator
2024 and 2023, respectively	18	18
2023 and 2022, respectively	32	21
2022 and 2021, respectively	24	15
2021 and 2020, respectively	11	7
2020 and 2019, respectively	3	3
Prior	2	1
Revolving Finance Receivables	1	2
Total Finance Receivables	91	67
Customer | 91+ days past due
Financing Receivable, Credit Quality Indicator
2024 and 2023, respectively	12	22
2023 and 2022, respectively	60	55
2022 and 2021, respectively	51	45
2021 and 2020, respectively	40	25
2020 and 2019, respectively	16	16
Prior	14	17
Revolving Finance Receivables	1	2
Total Finance Receivables	194	182
Customer | North America | Current
Financing Receivable, Credit Quality Indicator
2024 and 2023, respectively	3,959	4,430
2023 and 2022, respectively	3,389	2,628
2022 and 2021, respectively	1,821	2,000
2021 and 2020, respectively	1,210	745
2020 and 2019, respectively	347	220
Prior	63	32
Revolving Finance Receivables	360	312
Total Finance Receivables	11,149	10,367
Customer | North America | 31-60 days past due
Financing Receivable, Credit Quality Indicator
2024 and 2023, respectively	24	28
2023 and 2022, respectively	43	31
2022 and 2021, respectively	36	24
2021 and 2020, respectively	23	14
2020 and 2019, respectively	8	7
Prior	2	1
Revolving Finance Receivables	3	4
Total Finance Receivables	139	109
Customer | North America | 61-90 days past due
Financing Receivable, Credit Quality Indicator
2024 and 2023, respectively	6	10
2023 and 2022, respectively	13	11
2022 and 2021, respectively	10	8
2021 and 2020, respectively	5	4
2020 and 2019, respectively	2	1
Prior	1	0
Revolving Finance Receivables	1	2
Total Finance Receivables	38	36
Customer | North America | 91+ days past due
Financing Receivable, Credit Quality Indicator
2024 and 2023, respectively	6	12
2023 and 2022, respectively	31	23
2022 and 2021, respectively	27	18
2021 and 2020, respectively	16	9
2020 and 2019, respectively	7	4
Prior	3	1
Revolving Finance Receivables	1	2
Total Finance Receivables	91	69
Customer | EAME | Current
Financing Receivable, Credit Quality Indicator
2024 and 2023, respectively	998	1,336
2023 and 2022, respectively	1,040	895
2022 and 2021, respectively	646	588
2021 and 2020, respectively	351	258
2020 and 2019, respectively	130	111
Prior	103	105
Revolving Finance Receivables	0	0
Total Finance Receivables	3,268	3,293
Customer | EAME | 31-60 days past due
Financing Receivable, Credit Quality Indicator
2024 and 2023, respectively	7	10
2023 and 2022, respectively	16	9
2022 and 2021, respectively	12	7
2021 and 2020, respectively	6	3
2020 and 2019, respectively	2	1
Prior	0	0
Revolving Finance Receivables	0	0
Total Finance Receivables	43	30
Customer | EAME | 61-90 days past due
Financing Receivable, Credit Quality Indicator
2024 and 2023, respectively	2	4
2023 and 2022, respectively	7	3
2022 and 2021, respectively	3	3
2021 and 2020, respectively	2	1
2020 and 2019, respectively	1	1
Prior	0	0
Revolving Finance Receivables	0	0
Total Finance Receivables	15	12
Customer | EAME | 91+ days past due
Financing Receivable, Credit Quality Indicator
2024 and 2023, respectively	4	7
2023 and 2022, respectively	21	17
2022 and 2021, respectively	12	15
2021 and 2020, respectively	17	8
2020 and 2019, respectively	6	3
Prior	2	1
Revolving Finance Receivables	0	0
Total Finance Receivables	62	51
Customer | Asia/Pacific | Current
Financing Receivable, Credit Quality Indicator
2024 and 2023, respectively	881	1,134
2023 and 2022, respectively	821	690
2022 and 2021, respectively	415	368
2021 and 2020, respectively	178	115
2020 and 2019, respectively	47	37
Prior	11	7
Revolving Finance Receivables	51	45
Total Finance Receivables	2,404	2,396
Customer | Asia/Pacific | 31-60 days past due
Financing Receivable, Credit Quality Indicator
2024 and 2023, respectively	6	5
2023 and 2022, respectively	10	7
2022 and 2021, respectively	7	8
2021 and 2020, respectively	3	2
2020 and 2019, respectively	1	0
Prior	0	0
Revolving Finance Receivables	0	0
Total Finance Receivables	27	22
Customer | Asia/Pacific | 61-90 days past due
Financing Receivable, Credit Quality Indicator
2024 and 2023, respectively	1	2
2023 and 2022, respectively	3	3
2022 and 2021, respectively	3	3
2021 and 2020, respectively	2	2
2020 and 2019, respectively	0	0
Prior	0	0
Revolving Finance Receivables	0	0
Total Finance Receivables	9	10
Customer | Asia/Pacific | 91+ days past due
Financing Receivable, Credit Quality Indicator
2024 and 2023, respectively	1	1
2023 and 2022, respectively	2	5
2022 and 2021, respectively	3	3
2021 and 2020, respectively	2	3
2020 and 2019, respectively	1	1
Prior	0	0
Revolving Finance Receivables	0	0
Total Finance Receivables	9	13
Customer | Mining | Current
Financing Receivable, Credit Quality Indicator
2024 and 2023, respectively	844	1,106
2023 and 2022, respectively	865	694
2022 and 2021, respectively	515	396
2021 and 2020, respectively	258	126
2020 and 2019, respectively	86	86
Prior	54	27
Revolving Finance Receivables	24	66
Total Finance Receivables	2,646	2,501
Customer | Mining | 31-60 days past due
Financing Receivable, Credit Quality Indicator
2024 and 2023, respectively	0	0
2023 and 2022, respectively	0	0
2022 and 2021, respectively	0	0
2021 and 2020, respectively	0	0
2020 and 2019, respectively	0	0
Prior	0	0
Revolving Finance Receivables	0	0
Total Finance Receivables	0	0
Customer | Mining | 61-90 days past due
Financing Receivable, Credit Quality Indicator
2024 and 2023, respectively	9	0
2023 and 2022, respectively	7	0
2022 and 2021, respectively	6	0
2021 and 2020, respectively	1	0
2020 and 2019, respectively	0	1
Prior	0	1
Revolving Finance Receivables	0	0
Total Finance Receivables	23	2
Customer | Mining | 91+ days past due
Financing Receivable, Credit Quality Indicator
2024 and 2023, respectively	0	0
2023 and 2022, respectively	1	0
2022 and 2021, respectively	1	1
2021 and 2020, respectively	1	0
2020 and 2019, respectively	0	0
Prior	5	1
Revolving Finance Receivables	0	0
Total Finance Receivables	8	2
Customer | Latin America | Current
Financing Receivable, Credit Quality Indicator
2024 and 2023, respectively	680	750
2023 and 2022, respectively	468	520
2022 and 2021, respectively	290	219
2021 and 2020, respectively	89	59
2020 and 2019, respectively	14	23
Prior	6	6
Revolving Finance Receivables	0	0
Total Finance Receivables	1,547	1,577
Customer | Latin America | 31-60 days past due
Financing Receivable, Credit Quality Indicator
2024 and 2023, respectively	3	9
2023 and 2022, respectively	7	10
2022 and 2021, respectively	6	6
2021 and 2020, respectively	2	1
2020 and 2019, respectively	0	0
Prior	0	0
Revolving Finance Receivables	0	0
Total Finance Receivables	18	26
Customer | Latin America | 61-90 days past due
Financing Receivable, Credit Quality Indicator
2024 and 2023, respectively	0	2
2023 and 2022, respectively	2	4
2022 and 2021, respectively	2	1
2021 and 2020, respectively	1	0
2020 and 2019, respectively	0	0
Prior	1	0
Revolving Finance Receivables	0	0
Total Finance Receivables	6	7
Customer | Latin America | 91+ days past due
Financing Receivable, Credit Quality Indicator
2024 and 2023, respectively	1	2
2023 and 2022, respectively	5	10
2022 and 2021, respectively	8	8
2021 and 2020, respectively	4	5
2020 and 2019, respectively	2	8
Prior	1	11
Revolving Finance Receivables	0	0
Total Finance Receivables	21	44
Customer | Power | Current
Financing Receivable, Credit Quality Indicator
2024 and 2023, respectively	83	152
2023 and 2022, respectively	183	52
2022 and 2021, respectively	46	65
2021 and 2020, respectively	48	75
2020 and 2019, respectively	66	42
Prior	76	59
Revolving Finance Receivables	161	162
Total Finance Receivables	663	607
Customer | Power | 31-60 days past due
Financing Receivable, Credit Quality Indicator
2024 and 2023, respectively	0	0
2023 and 2022, respectively	0	0
2022 and 2021, respectively	0	0
2021 and 2020, respectively	0	0
2020 and 2019, respectively	0	0
Prior	0	0
Revolving Finance Receivables	0	0
Total Finance Receivables	0	0
Customer | Power | 61-90 days past due
Financing Receivable, Credit Quality Indicator
2024 and 2023, respectively	0	0
2023 and 2022, respectively	0	0
2022 and 2021, respectively	0	0
2021 and 2020, respectively	0	0
2020 and 2019, respectively	0	0
Prior	0	0
Revolving Finance Receivables	0	0
Total Finance Receivables	0	0
Customer | Power | 91+ days past due
Financing Receivable, Credit Quality Indicator
2024 and 2023, respectively	0	0
2023 and 2022, respectively	0	0
2022 and 2021, respectively	0	0
2021 and 2020, respectively	0	0
2020 and 2019, respectively	0	0
Prior	3	3
Revolving Finance Receivables	0	0
Total Finance Receivables	$ 3	$ 3

Finance Receivables - Aging Rel

Finance Receivables - Aging Related to Finance Receivables (Details) - USD ($) $ in Millions	Sep. 30, 2024	Dec. 31, 2023	Sep. 30, 2023
Financing Receivable, Past Due
Total Finance Receivables	$ 29,405	$ 28,077	$ 27,542
Caterpillar Purchased Receivables
Financing Receivable, Past Due
Total Finance Receivables	4,314	3,949	$ 4,381
Caterpillar Purchased Receivables | 31-60 days past due
Financing Receivable, Past Due
Total Finance Receivables	17	21
Caterpillar Purchased Receivables | 61-90 days past due
Financing Receivable, Past Due
Total Finance Receivables	8	10
Caterpillar Purchased Receivables | 91+ days past due
Financing Receivable, Past Due
Total Finance Receivables	8	23
Caterpillar Purchased Receivables | Total Past Due
Financing Receivable, Past Due
Total Finance Receivables	33	54
Caterpillar Purchased Receivables | Current
Financing Receivable, Past Due
Total Finance Receivables	4,281	3,895
Caterpillar Purchased Receivables | North America
Financing Receivable, Past Due
Total Finance Receivables	2,496	2,236
Caterpillar Purchased Receivables | North America | 31-60 days past due
Financing Receivable, Past Due
Total Finance Receivables	10	15
Caterpillar Purchased Receivables | North America | 61-90 days past due
Financing Receivable, Past Due
Total Finance Receivables	5	5
Caterpillar Purchased Receivables | North America | 91+ days past due
Financing Receivable, Past Due
Total Finance Receivables	5	4
Caterpillar Purchased Receivables | North America | Total Past Due
Financing Receivable, Past Due
Total Finance Receivables	20	24
Caterpillar Purchased Receivables | North America | Current
Financing Receivable, Past Due
Total Finance Receivables	2,476	2,212
Caterpillar Purchased Receivables | EAME
Financing Receivable, Past Due
Total Finance Receivables	818	737
Caterpillar Purchased Receivables | EAME | 31-60 days past due
Financing Receivable, Past Due
Total Finance Receivables	2	3
Caterpillar Purchased Receivables | EAME | 61-90 days past due
Financing Receivable, Past Due
Total Finance Receivables	2	1
Caterpillar Purchased Receivables | EAME | 91+ days past due
Financing Receivable, Past Due
Total Finance Receivables	3	1
Caterpillar Purchased Receivables | EAME | Total Past Due
Financing Receivable, Past Due
Total Finance Receivables	7	5
Caterpillar Purchased Receivables | EAME | Current
Financing Receivable, Past Due
Total Finance Receivables	811	732
Caterpillar Purchased Receivables | Asia/Pacific
Financing Receivable, Past Due
Total Finance Receivables	600	595
Caterpillar Purchased Receivables | Asia/Pacific | 31-60 days past due
Financing Receivable, Past Due
Total Finance Receivables	0	2
Caterpillar Purchased Receivables | Asia/Pacific | 61-90 days past due
Financing Receivable, Past Due
Total Finance Receivables	0	0
Caterpillar Purchased Receivables | Asia/Pacific | 91+ days past due
Financing Receivable, Past Due
Total Finance Receivables	0	0
Caterpillar Purchased Receivables | Asia/Pacific | Total Past Due
Financing Receivable, Past Due
Total Finance Receivables	0	2
Caterpillar Purchased Receivables | Asia/Pacific | Current
Financing Receivable, Past Due
Total Finance Receivables	600	593
Caterpillar Purchased Receivables | Latin America
Financing Receivable, Past Due
Total Finance Receivables	366	371
Caterpillar Purchased Receivables | Latin America | 31-60 days past due
Financing Receivable, Past Due
Total Finance Receivables	0	1
Caterpillar Purchased Receivables | Latin America | 61-90 days past due
Financing Receivable, Past Due
Total Finance Receivables	0	4
Caterpillar Purchased Receivables | Latin America | 91+ days past due
Financing Receivable, Past Due
Total Finance Receivables	0	18
Caterpillar Purchased Receivables | Latin America | Total Past Due
Financing Receivable, Past Due
Total Finance Receivables	0	23
Caterpillar Purchased Receivables | Latin America | Current
Financing Receivable, Past Due
Total Finance Receivables	366	348
Caterpillar Purchased Receivables | Power
Financing Receivable, Past Due
Total Finance Receivables	34	10
Caterpillar Purchased Receivables | Power | 31-60 days past due
Financing Receivable, Past Due
Total Finance Receivables	5	0
Caterpillar Purchased Receivables | Power | 61-90 days past due
Financing Receivable, Past Due
Total Finance Receivables	1	0
Caterpillar Purchased Receivables | Power | 91+ days past due
Financing Receivable, Past Due
Total Finance Receivables	0	0
Caterpillar Purchased Receivables | Power | Total Past Due
Financing Receivable, Past Due
Total Finance Receivables	6	0
Caterpillar Purchased Receivables | Power | Current
Financing Receivable, Past Due
Total Finance Receivables	$ 28	$ 10

Finance Receivables - Finance R

Finance Receivables - Finance Receivables on Non-Accrual Status (Details) - Customer - USD ($) $ in Millions	Sep. 30, 2024	Dec. 31, 2023
Financing Receivable, Past Due
Non-accrual With an Allowance	$ 206	$ 152
91+ Still Accruing	22	44
North America
Financing Receivable, Past Due
Non-accrual With an Allowance	78	52
91+ Still Accruing	15	20
EAME
Financing Receivable, Past Due
Non-accrual With an Allowance	62	34
91+ Still Accruing	3	18
Asia/Pacific
Financing Receivable, Past Due
Non-accrual With an Allowance	7	8
91+ Still Accruing	4	5
Mining
Financing Receivable, Past Due
Non-accrual With an Allowance	31	2
91+ Still Accruing	0	0
Latin America
Financing Receivable, Past Due
Non-accrual With an Allowance	25	48
91+ Still Accruing	0	1
Power
Financing Receivable, Past Due
Non-accrual With an Allowance	3	8
91+ Still Accruing	$ 0	$ 0

Derivative Financial Instrume_3

Derivative Financial Instruments and Risk Management - Location and Fair Value of Derivative Instruments Reported in the Consolidated Statements of Financial Position (Details) - USD ($) $ in Millions	Sep. 30, 2024	Dec. 31, 2023
Derivatives, Fair Value
Derivative assets	$ 244	$ 285
Derivative liabilities	(198)	(220)
Designated derivatives
Derivatives, Fair Value
Derivative assets	222	257
Derivative liabilities	(119)	(141)
Designated derivatives | Foreign exchange contracts
Derivatives, Fair Value
Derivative assets	179	207
Derivative liabilities	(91)	(73)
Designated derivatives | Interest rate contracts
Derivatives, Fair Value
Derivative assets	43	50
Derivative liabilities	(28)	(68)
Undesignated derivatives
Derivatives, Fair Value
Derivative assets	22	28
Derivative liabilities	(79)	(79)
Undesignated derivatives | Foreign exchange contracts
Derivatives, Fair Value
Derivative assets	22	28
Derivative liabilities	$ (79)	$ (79)

Derivative Financial Instrume_4

Derivative Financial Instruments and Risk Management - Narrative (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2024	Dec. 31, 2023
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative instruments, notional amount	$ 15,840	$ 15,730
Deferred net gains, net of tax, included in equity, related to cash flow hedges, expected to be reclassified to earnings over the next twelve months	$ 8

Derivative Financial Instrume_5

Derivative Financial Instruments and Risk Management - Schedule of Gains (Losses) on Derivatives Instruments (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Undesignated derivatives | Fair Value Hedges
Derivative Instruments, Gain (Loss)
Gains (Losses) Recognized on Undesignated Hedges	$ (88)	$ 2	$ (49)	$ (32)
Undesignated derivatives | Fair Value Hedges | Foreign exchange contracts
Derivative Instruments, Gain (Loss)
Gains (Losses) Recognized on Undesignated Hedges	(65)	22	15	21
Undesignated derivatives | Fair Value Hedges | Interest rate contracts
Derivative Instruments, Gain (Loss)
Gains (Losses) Recognized on Undesignated Hedges	(23)	(20)	(64)	(53)
Designated derivatives | Cash Flow Hedges
Derivative Instruments, Gain (Loss)
Gains (Losses) Recognized in AOCI	(50)	79	132	74
Gains (Losses) Reclassified from AOCI	(44)	85	142	81
Designated derivatives | Cash Flow Hedges | Foreign exchange contracts
Derivative Instruments, Gain (Loss)
Gains (Losses) Recognized in AOCI	(41)	76	126	59
Gains (Losses) Reclassified from AOCI	(53)	70	103	38
Designated derivatives | Cash Flow Hedges | Interest rate contracts
Derivative Instruments, Gain (Loss)
Gains (Losses) Recognized in AOCI	(9)	3	6	15
Gains (Losses) Reclassified from AOCI	$ 9	$ 15	$ 39	$ 43

Derivative Financial Instrume_6

Derivative Financial Instruments and Risk Management - Schedule of Amounts Recorded in the Consolidated Statements of Financial Position Related to Cumulative Basis Adjustments for Fair Value Hedges (Details) - USD ($) $ in Millions	Sep. 30, 2024	Dec. 31, 2023
Derivatives, Fair Value
Carrying Value of the Hedged Liabilities	$ 3,821	$ 3,110
Cumulative Amount of Fair Value Hedging Adjustment Included in the Carrying Value of the Hedged Liabilities	25	(46)
Current maturities of long-term debt
Derivatives, Fair Value
Carrying Value of the Hedged Liabilities	948	982
Cumulative Amount of Fair Value Hedging Adjustment Included in the Carrying Value of the Hedged Liabilities	(2)	(23)
Long-term debt
Derivatives, Fair Value
Carrying Value of the Hedged Liabilities	2,873	2,128
Cumulative Amount of Fair Value Hedging Adjustment Included in the Carrying Value of the Hedged Liabilities	$ 27	$ (23)

Derivative Financial Instrume_7

Derivative Financial Instruments and Risk Management - Schedule of Effect of Net Settlement Provisions of the Master Netting Agreements on our Derivative Balances (Details) - USD ($) $ in Millions	Sep. 30, 2024	Dec. 31, 2023
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Assets, Gross amounts recognized	$ 244	$ 285
Assets, Financial instruments not offset	(93)	(106)
Assets, Net amount	151	179
Liabilities, Gross amounts recognized	(198)	(220)
Liabilities, Financial instruments not offset	93	106
Liabilities, Net amount	$ (105)	$ (114)

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]
Beginning balance	$ 3,171	$ 3,195	$ 3,170	$ 2,963
Total Other comprehensive income (loss), net of tax	167	(106)	63	(103)
Ending balance	3,475	3,107	3,475	3,107
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	3,171	3,195	3,170	2,963
Total Other comprehensive income (loss), net of tax	167	(106)	63	(103)
Ending balance	3,475	3,107	3,475	3,107
Foreign currency translation
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]
Beginning balance	(1,096)	(1,059)	(996)	(1,068)
Gains (losses) before reclassification, before tax	151	(89)	5	(89)
Less: Tax provision/(benefit)	(22)	13	(7)	4
Gains (losses) before reclassification, net of tax	173	(102)	12	(93)
(Gains) losses reclassified to earnings	0	0	61	0
Less: Tax provision/(benefit)	0	0	0	0
Net (gains) losses reclassified to earnings	0	0	61	0
Total Other comprehensive income (loss), net of tax	173	(102)	73	(93)
Ending balance	(923)	(1,161)	(923)	(1,161)
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	(1,096)	(1,059)	(996)	(1,068)
Gains (losses) before reclassification, before tax	151	(89)	5	(89)
Less: Tax provision/(benefit)	(22)	13	(7)	4
Gains (losses) before reclassification, net of tax	173	(102)	12	(93)
(Gains) losses reclassified to earnings	0	0	61	0
Less: Tax provision/(benefit)	0	0	0	0
Net (gains) losses reclassified to earnings	0	0	61	0
Total Other comprehensive income (loss), net of tax	173	(102)	73	(93)
Ending balance	(923)	(1,161)	(923)	(1,161)
Derivative financial instruments
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]
Beginning balance	14	21	18	21
Gains (losses) before reclassification, before tax	(50)	79	132	74
Less: Tax provision/(benefit)	(5)	20	41	18
Gains (losses) before reclassification, net of tax	(45)	59	91	56
(Gains) losses reclassified to earnings	44	(85)	(142)	(81)
Less: Tax provision/(benefit)	6	(22)	(40)	(21)
Net (gains) losses reclassified to earnings	38	(63)	(102)	(60)
Total Other comprehensive income (loss), net of tax	(7)	(4)	(11)	(4)
Ending balance	7	17	7	17
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	14	21	18	21
Gains (losses) before reclassification, before tax	(50)	79	132	74
Less: Tax provision/(benefit)	(5)	20	41	18
Gains (losses) before reclassification, net of tax	(45)	59	91	56
(Gains) losses reclassified to earnings	44	(85)	(142)	(81)
Less: Tax provision/(benefit)	6	(22)	(40)	(21)
Net (gains) losses reclassified to earnings	38	(63)	(102)	(60)
Total Other comprehensive income (loss), net of tax	(7)	(4)	(11)	(4)
Ending balance	7	17	7	17
Accumulated other comprehensive income (loss)
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]
Beginning balance	(1,082)	(1,038)	(978)	(1,047)
Ending balance	(916)	(1,144)	(916)	(1,144)
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	(1,082)	(1,038)	(978)	(1,047)
Ending balance	$ (916)	$ (1,144)	$ (916)	$ (1,144)

Segment Information (Details)

Segment Information (Details) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024 USD ($)	Sep. 30, 2023 USD ($)	Sep. 30, 2024 USD ($) segment	Sep. 30, 2023 USD ($)	Dec. 31, 2023 USD ($)
Segment Reporting Information
Number of operating segments | segment			6
External revenues	$ 888	$ 846	$ 2,606	$ 2,407
Profit before income taxes	182	170	393	579
Interest	336	280	949	742
Depreciation on equipment leased to others	180	182	541	532
Provision for credit losses	19	35	32	23
Assets	34,326		34,326		$ 33,112
Capital expenditures	264	341	817	1,029
Operating Segments
Segment Reporting Information
External revenues	872	827	2,553	2,360
Profit before income taxes	252	229	762	772
Interest	304	264	858	688
Depreciation on equipment leased to others	180	182	541	532
Provision for credit losses	19	34	32	22
Assets	32,493		32,493		31,159
Capital expenditures	254	340	799	1,022
Unallocated
Segment Reporting Information
External revenues	21	23	65	58
Profit before income taxes	(160)	(137)	(406)	(378)
Interest	128	108	360	279
Depreciation on equipment leased to others	0	0	0	0
Provision for credit losses	0	1	0	1
Assets	1,997		1,997		2,054
Capital expenditures	10	1	18	7
Segment Reporting, Reconciling Item, Excluding Corporate Nonsegment | Timing
Segment Reporting Information
External revenues	(5)	(4)	(12)	(11)
Profit before income taxes	(1)	1	0	1
Interest	0	0	0	0
Depreciation on equipment leased to others	0	0	0	0
Provision for credit losses	0	0	0	0
Assets	(18)		(18)		20
Capital expenditures	0	0	0	0
Segment Reporting, Reconciling Item, Excluding Corporate Nonsegment | Methodology
Segment Reporting Information
External revenues	0	0	0	0
Profit before income taxes	91	77	247	184
Interest	(96)	(92)	(269)	(225)
Depreciation on equipment leased to others	0	0	0	0
Provision for credit losses	0	0	0	0
Assets	113		113		145
Capital expenditures	0	0	0	0
Segment Reporting, Reconciling Item, Excluding Corporate Nonsegment | Divestiture
Segment Reporting Information
External revenues	0		0
Profit before income taxes	0		(210)
Interest	0		0
Depreciation on equipment leased to others	0		0
Provision for credit losses	0		0
Assets	0		0
Capital expenditures	0		0
Inter-segment Eliminations
Segment Reporting Information
External revenues	0	0	0	0
Profit before income taxes	0	0	0	0
Interest	0	0	0	0
Depreciation on equipment leased to others	0	0	0	0
Provision for credit losses	0	0	0	0
Assets	(259)		(259)		(266)
Capital expenditures	0	0	0	0
North America | Operating Segments
Segment Reporting Information
External revenues	513	459	1,491	1,313
Profit before income taxes	159	144	451	447
Interest	165	128	460	331
Depreciation on equipment leased to others	128	130	385	380
Provision for credit losses	9	10	43	17
Assets	17,353		17,353		16,303
Capital expenditures	197	274	608	789
EAME | Operating Segments
Segment Reporting Information
External revenues	98	102	283	274
Profit before income taxes	23	35	75	79
Interest	39	26	108	72
Depreciation on equipment leased to others	14	14	41	43
Provision for credit losses	1	1	(11)	3
Assets	4,998		4,998		5,117
Capital expenditures	20	14	39	50
Asia/Pacific | Operating Segments
Segment Reporting Information
External revenues	68	70	202	213
Profit before income taxes	24	19	70	86
Interest	25	32	73	78
Depreciation on equipment leased to others	1	2	3	4
Provision for credit losses	0	1	(2)	(3)
Assets	3,498		3,498		3,435
Capital expenditures	4	0	8	2
Latin America | Operating Segments
Segment Reporting Information
External revenues	83	95	252	264
Profit before income taxes	32	15	84	81
Interest	38	48	116	132
Depreciation on equipment leased to others	3	3	10	9
Provision for credit losses	(3)	13	0	(2)
Assets	2,531		2,531		2,583
Capital expenditures	3	3	15	13
Mining | Operating Segments
Segment Reporting Information
External revenues	94	86	279	253
Profit before income taxes	11	17	55	76
Interest	28	23	77	56
Depreciation on equipment leased to others	33	32	100	94
Provision for credit losses	11	5	16	(2)
Assets	3,366		3,366		3,059
Capital expenditures	30	49	129	168
Power | Operating Segments
Segment Reporting Information
External revenues	16	15	46	43
Profit before income taxes	3	(1)	27	3
Interest	9	7	24	19
Depreciation on equipment leased to others	1	1	2	2
Provision for credit losses	1	4	(14)	9
Assets	747		747		$ 662
Capital expenditures	$ 0	$ 0	$ 0	$ 0

Commitments and Contingent Li_2

Commitments and Contingent Liabilities (Details) - USD ($) $ in Millions	Sep. 30, 2024	Dec. 31, 2023
Guarantor Obligations
Guarantees, maximum potential amount of future payments	$ 24	$ 25
Total assets	34,326	33,112
Liabilities	30,851	29,942
Maximum
Guarantor Obligations
Related recorded liability	1	1
Variable interest entity, primary beneficiary
Guarantor Obligations
Total assets	1,310	1,350
Liabilities	$ 1,310	$ 1,350

Fair Value Disclosures - Narrat

Fair Value Disclosures - Narrative (Details) - USD ($) $ in Millions	Sep. 30, 2024	Dec. 31, 2023
Fair Value, Inputs, Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Loans carried at fair value	$ 59	$ 55
Recurring basis | Fair Value, Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Derivative financial instruments, net asset position	$ 46	$ 65

Fair Value Disclosures - Summar

Fair Value Disclosures - Summary of Fair Value of Financial Instruments (Details) - USD ($) $ in Millions	Sep. 30, 2024	Dec. 31, 2023
Carrying Amount
Assets
Finance receivables, net (excluding finance leases)	$ 22,024	$ 20,746
Liabilities
Long-term debt	25,496	23,612
Fair Value | Fair Value, Level 3
Assets
Finance receivables, net (excluding finance leases)	21,691	20,330
Fair Value | Fair Value, Level 2
Liabilities
Long-term debt	25,472	23,299
Carrying amount of assets excluded from measurement at fair value
Liabilities
Finance leases and failed sale leasebacks, Carrying Value	$ 7,130	$ 7,000

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Millions	3 Months Ended	9 Months Ended
	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Income Tax Disclosure [Abstract]
Loss on divestiture		$ 210	$ 0
Discrete tax expense	$ 27		$ 27

Divestiture (Details)

Divestiture (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Discontinued Operations and Disposal Groups [Abstract]
Loss on divestiture	$ 210	$ 0