Long-term debt (Tables)

12 Months Ended

Dec. 31, 2019

Debt Disclosure [Abstract]

Long-term debt

		December 31,
(Millions of dollars)	Effective Yield to Maturity 1	2019		2018
Machinery, Energy & Transportation:
Notes—$1,250 million of 3.900% due 2021 2	4.01%	$	1,248	$	1,247
Notes—$759 million of 5.200% due 2041 2	5.27%	752		751
Debentures—$120 million of 9.375% due 2021	9.41%	120		120
Debentures—$500 million of 2.600% due 2022 2	2.70%	499		498
Debentures—$82 million of 8.000% due 2023	8.06%	82		82
Debentures—$1,000 million of 3.400% due 2024	3.46%	998		997
Debentures—$193 million of 6.625% due 2028 2	6.68%	192		192
Debentures—$500 million of 2.600% due 2029 2	2.64%	497		—
Debentures—$242 million of 7.300% due 2031 2	7.38%	240		240
Debentures—$307 million of 5.300% due 2035 2	8.64%	220		218
Debentures—$460 million of 6.050% due 2036 2	6.12%	456		456
Debentures—$65 million of 8.250% due 2038 2	8.38%	64		64
Debentures—$160 million of 6.950% due 2042 2	7.02%	158		158
Debentures—$1,722 million of 3.803% due 2042 2	6.39%	1,277		1,257
Debentures—$500 million of 4.300% due 2044	4.39%	493		493
Debentures—$1,000 million of 3.250% due 2049 2	3.37%	982		—
Debentures—$500 million of 4.750% due 2064	4.81%	494		494
Debentures—$246 million of 7.375% due 2097 2	7.51%	241		241
Finance lease obligations & other 3		128		497
Total Machinery, Energy & Transportation		9,141		8,005
Financial Products:
Medium-term notes		16,719		16,592
Other		421		403
Total Financial Products		17,140		16,995
Total long-term debt due after one year		$	26,281	$	25,000

¹  Effective yield to maturity includes the impact of discounts, premiums and debt issuance costs.

²  Redeemable at our option in whole or in part at any time at a redemption price equal to the greater of (i) 100% of the principal amount or (ii) the discounted present value of the notes or debentures, calculated in accordance with the terms of such notes or debentures.

³  2018 includes $360 million related to a financing transaction in Japan entered into in 2017 that was removed in 2019 due to the new lease accounting guidance adopted January 1, 2019. See Note 1J for additional information.

Aggregate amounts of maturities of long-term debt

The aggregate amounts of maturities of long-term debt during each of the years 2020 through 2024, including amounts due within one year and classified as current, are:

	December 31,
(Millions of dollars)	2020		2021		2022		2023		2024
Machinery, Energy & Transportation	$	16	$	1,403	$	513	$	93	$	1,007
Financial Products	6,194		7,732		4,744		2,167		2,157
	$	6,210	$	9,135	$	5,257	$	2,260	$	3,164