Leases (Tables)

12 Months Ended

Dec. 31, 2020

Leases

Summary of finance leases in consolidated balance sheets

(Millions of dollars)			2020		2019
Finance lease right of use assets, net	Property, plant and equipment, net	$	92	$	50
Finance lease liabilities	Other current liabilities		10		5
Non-current finance lease liabilities	Other liabilities		78		40

Summary of components of lease costs

(Millions of dollars)	2020		2019
Operating lease cost	$	145	$	138
Finance lease cost:
Amortization of right of use assets		9		3
Interest on lease liabilities		4		1
Variable lease cost		8		7
Short-term lease cost		25		48
Sublease income		(6)		—
Total lease cost	$	185	$	197

Summary of maturities of lease liabilities

		Operating		Finance
(Millions of dollars)		Leases		Leases
2021	$	121	$	14
2022		92		14
2023		58		14
2024		47		13
2025		41		12
Thereafter		117		45
Total undiscounted lease payments		476		112
Less imputed interest		(47)		(24)
Total lease liability	$	429	$	88