Commitments And Contingent Liabilities (Tables)

9 Months Ended

Sep. 30, 2020

Commitments and Contingencies Disclosure [Abstract]

Schedule of guarantor obligations

Guarantees consisted of the following:

(In millions)	September 30, 2020		December 31, 2019
Financial guarantees (a)	$	960.3	$	945.5
Performance guarantees (b)	4,656.3		4,916.0
Maximum potential undiscounted payments	$	5,616.6	$	5,861.5

(a)Financial guarantees represent contracts that contingently require a guarantor to make payments to a guaranteed party based on changes in an underlying agreement that is related to an asset, a liability or an equity security of the guaranteed party. These tend to be drawn down only if there is a failure to fulfill our financial obligations.

(b)Performance guarantees represent contracts that contingently require a guarantor to make payments to a guaranteed party based on another entity's failure to perform under a nonfinancial obligating agreement. Events that trigger payment are performance-related, such as failure to ship a product or provide a service.