v3.25.2
Fair Value Disclosures (Tables)
6 Months Ended
Jun. 30, 2025
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)June 30, 2025December 31, 2024
 Carrying
Amount
Fair
Value
Carrying
Amount
Fair
Value
Fair
Value
Levels
Reference
Assets
Finance receivables, net (excluding finance leases(1))
$23,212 $22,831 $22,026 $21,593 3Note 3
Liabilities
Long-term debt$25,579 $25,605 $25,406 $25,304 2
(1)    Represents finance leases and failed sale leasebacks of $7.39 billion and $6.94 billion as of June 30, 2025 and December 31, 2024, respectively.