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Our 2024 U.S. carryforward benefits include $ 254 million of state credit and net operating loss carryforward benefits that begin to expire in 2025. Our foreign carryforward benefits include $ 653 million of net operating loss carryforwards that begin to expire in 2025. A valuation allowance is recorded to reduce the gross deferred tax assets to an amount we believe is more likely than not to be realized. The valuation allowance at December 31, 2024 was $ 872 million and increased by a net $ 83 million. The valuation allowance at December 31, 2023 was $ 789 million and increased by a net $ 85 million. The valuation allowance at December 31, 2022 was $ 704 million and increased by a net $ 344 million, primarily due to the Meritor acquisition. The valuation allowance is primarily attributable to the uncertainty regarding the realization of a portion of the U.S. state and foreign net operating loss and tax credit carryforward benefits. | text | 789 | monetaryItemType | text: <entity> 789 </entity> <entity type> monetaryItemType </entity type> <context> Our 2024 U.S. carryforward benefits include $ 254 million of state credit and net operating loss carryforward benefits that begin to expire in 2025. Our foreign carryforward benefits include $ 653 million of net operating loss carryforwards that begin to expire in 2025. A valuation allowance is recorded to reduce the gross deferred tax assets to an amount we believe is more likely than not to be realized. The valuation allowance at December 31, 2024 was $ 872 million and increased by a net $ 83 million. The valuation allowance at December 31, 2023 was $ 789 million and increased by a net $ 85 million. The valuation allowance at December 31, 2022 was $ 704 million and increased by a net $ 344 million, primarily due to the Meritor acquisition. The valuation allowance is primarily attributable to the uncertainty regarding the realization of a portion of the U.S. state and foreign net operating loss and tax credit carryforward benefits. </context> | us-gaap:DeferredTaxAssetsValuationAllowance |
Our 2024 U.S. carryforward benefits include $ 254 million of state credit and net operating loss carryforward benefits that begin to expire in 2025. Our foreign carryforward benefits include $ 653 million of net operating loss carryforwards that begin to expire in 2025. A valuation allowance is recorded to reduce the gross deferred tax assets to an amount we believe is more likely than not to be realized. The valuation allowance at December 31, 2024 was $ 872 million and increased by a net $ 83 million. The valuation allowance at December 31, 2023 was $ 789 million and increased by a net $ 85 million. The valuation allowance at December 31, 2022 was $ 704 million and increased by a net $ 344 million, primarily due to the Meritor acquisition. The valuation allowance is primarily attributable to the uncertainty regarding the realization of a portion of the U.S. state and foreign net operating loss and tax credit carryforward benefits. | text | 85 | monetaryItemType | text: <entity> 85 </entity> <entity type> monetaryItemType </entity type> <context> Our 2024 U.S. carryforward benefits include $ 254 million of state credit and net operating loss carryforward benefits that begin to expire in 2025. Our foreign carryforward benefits include $ 653 million of net operating loss carryforwards that begin to expire in 2025. A valuation allowance is recorded to reduce the gross deferred tax assets to an amount we believe is more likely than not to be realized. The valuation allowance at December 31, 2024 was $ 872 million and increased by a net $ 83 million. The valuation allowance at December 31, 2023 was $ 789 million and increased by a net $ 85 million. The valuation allowance at December 31, 2022 was $ 704 million and increased by a net $ 344 million, primarily due to the Meritor acquisition. The valuation allowance is primarily attributable to the uncertainty regarding the realization of a portion of the U.S. state and foreign net operating loss and tax credit carryforward benefits. </context> | us-gaap:ValuationAllowanceDeferredTaxAssetChangeInAmount |
Our 2024 U.S. carryforward benefits include $ 254 million of state credit and net operating loss carryforward benefits that begin to expire in 2025. Our foreign carryforward benefits include $ 653 million of net operating loss carryforwards that begin to expire in 2025. A valuation allowance is recorded to reduce the gross deferred tax assets to an amount we believe is more likely than not to be realized. The valuation allowance at December 31, 2024 was $ 872 million and increased by a net $ 83 million. The valuation allowance at December 31, 2023 was $ 789 million and increased by a net $ 85 million. The valuation allowance at December 31, 2022 was $ 704 million and increased by a net $ 344 million, primarily due to the Meritor acquisition. The valuation allowance is primarily attributable to the uncertainty regarding the realization of a portion of the U.S. state and foreign net operating loss and tax credit carryforward benefits. | text | 704 | monetaryItemType | text: <entity> 704 </entity> <entity type> monetaryItemType </entity type> <context> Our 2024 U.S. carryforward benefits include $ 254 million of state credit and net operating loss carryforward benefits that begin to expire in 2025. Our foreign carryforward benefits include $ 653 million of net operating loss carryforwards that begin to expire in 2025. A valuation allowance is recorded to reduce the gross deferred tax assets to an amount we believe is more likely than not to be realized. The valuation allowance at December 31, 2024 was $ 872 million and increased by a net $ 83 million. The valuation allowance at December 31, 2023 was $ 789 million and increased by a net $ 85 million. The valuation allowance at December 31, 2022 was $ 704 million and increased by a net $ 344 million, primarily due to the Meritor acquisition. The valuation allowance is primarily attributable to the uncertainty regarding the realization of a portion of the U.S. state and foreign net operating loss and tax credit carryforward benefits. </context> | us-gaap:DeferredTaxAssetsValuationAllowance |
Our 2024 U.S. carryforward benefits include $ 254 million of state credit and net operating loss carryforward benefits that begin to expire in 2025. Our foreign carryforward benefits include $ 653 million of net operating loss carryforwards that begin to expire in 2025. A valuation allowance is recorded to reduce the gross deferred tax assets to an amount we believe is more likely than not to be realized. The valuation allowance at December 31, 2024 was $ 872 million and increased by a net $ 83 million. The valuation allowance at December 31, 2023 was $ 789 million and increased by a net $ 85 million. The valuation allowance at December 31, 2022 was $ 704 million and increased by a net $ 344 million, primarily due to the Meritor acquisition. The valuation allowance is primarily attributable to the uncertainty regarding the realization of a portion of the U.S. state and foreign net operating loss and tax credit carryforward benefits. | text | 344 | monetaryItemType | text: <entity> 344 </entity> <entity type> monetaryItemType </entity type> <context> Our 2024 U.S. carryforward benefits include $ 254 million of state credit and net operating loss carryforward benefits that begin to expire in 2025. Our foreign carryforward benefits include $ 653 million of net operating loss carryforwards that begin to expire in 2025. A valuation allowance is recorded to reduce the gross deferred tax assets to an amount we believe is more likely than not to be realized. The valuation allowance at December 31, 2024 was $ 872 million and increased by a net $ 83 million. The valuation allowance at December 31, 2023 was $ 789 million and increased by a net $ 85 million. The valuation allowance at December 31, 2022 was $ 704 million and increased by a net $ 344 million, primarily due to the Meritor acquisition. The valuation allowance is primarily attributable to the uncertainty regarding the realization of a portion of the U.S. state and foreign net operating loss and tax credit carryforward benefits. </context> | us-gaap:ValuationAllowanceDeferredTaxAssetChangeInAmount |
Included in the December 31, 2024, 2023 and 2022, balances are $ 289 million, $ 314 million and $ 270 million, respectively, related to tax positions that, if recognized, would favorably impact the effective tax rate in future periods. We also accrued interest expense related to the unrecognized tax benefits of $ 31 million, $ 33 million and $ 18 million as of December 31, 2024, 2023 and 2022, respectively. We recognize potential accrued interest and penalties related to unrecognized tax benefits in income tax expense. | text | 289 | monetaryItemType | text: <entity> 289 </entity> <entity type> monetaryItemType </entity type> <context> Included in the December 31, 2024, 2023 and 2022, balances are $ 289 million, $ 314 million and $ 270 million, respectively, related to tax positions that, if recognized, would favorably impact the effective tax rate in future periods. We also accrued interest expense related to the unrecognized tax benefits of $ 31 million, $ 33 million and $ 18 million as of December 31, 2024, 2023 and 2022, respectively. We recognize potential accrued interest and penalties related to unrecognized tax benefits in income tax expense. </context> | us-gaap:UnrecognizedTaxBenefitsThatWouldImpactEffectiveTaxRate |
Included in the December 31, 2024, 2023 and 2022, balances are $ 289 million, $ 314 million and $ 270 million, respectively, related to tax positions that, if recognized, would favorably impact the effective tax rate in future periods. We also accrued interest expense related to the unrecognized tax benefits of $ 31 million, $ 33 million and $ 18 million as of December 31, 2024, 2023 and 2022, respectively. We recognize potential accrued interest and penalties related to unrecognized tax benefits in income tax expense. | text | 314 | monetaryItemType | text: <entity> 314 </entity> <entity type> monetaryItemType </entity type> <context> Included in the December 31, 2024, 2023 and 2022, balances are $ 289 million, $ 314 million and $ 270 million, respectively, related to tax positions that, if recognized, would favorably impact the effective tax rate in future periods. We also accrued interest expense related to the unrecognized tax benefits of $ 31 million, $ 33 million and $ 18 million as of December 31, 2024, 2023 and 2022, respectively. We recognize potential accrued interest and penalties related to unrecognized tax benefits in income tax expense. </context> | us-gaap:UnrecognizedTaxBenefitsThatWouldImpactEffectiveTaxRate |
Included in the December 31, 2024, 2023 and 2022, balances are $ 289 million, $ 314 million and $ 270 million, respectively, related to tax positions that, if recognized, would favorably impact the effective tax rate in future periods. We also accrued interest expense related to the unrecognized tax benefits of $ 31 million, $ 33 million and $ 18 million as of December 31, 2024, 2023 and 2022, respectively. We recognize potential accrued interest and penalties related to unrecognized tax benefits in income tax expense. | text | 270 | monetaryItemType | text: <entity> 270 </entity> <entity type> monetaryItemType </entity type> <context> Included in the December 31, 2024, 2023 and 2022, balances are $ 289 million, $ 314 million and $ 270 million, respectively, related to tax positions that, if recognized, would favorably impact the effective tax rate in future periods. We also accrued interest expense related to the unrecognized tax benefits of $ 31 million, $ 33 million and $ 18 million as of December 31, 2024, 2023 and 2022, respectively. We recognize potential accrued interest and penalties related to unrecognized tax benefits in income tax expense. </context> | us-gaap:UnrecognizedTaxBenefitsThatWouldImpactEffectiveTaxRate |
Included in the December 31, 2024, 2023 and 2022, balances are $ 289 million, $ 314 million and $ 270 million, respectively, related to tax positions that, if recognized, would favorably impact the effective tax rate in future periods. We also accrued interest expense related to the unrecognized tax benefits of $ 31 million, $ 33 million and $ 18 million as of December 31, 2024, 2023 and 2022, respectively. We recognize potential accrued interest and penalties related to unrecognized tax benefits in income tax expense. | text | 31 | monetaryItemType | text: <entity> 31 </entity> <entity type> monetaryItemType </entity type> <context> Included in the December 31, 2024, 2023 and 2022, balances are $ 289 million, $ 314 million and $ 270 million, respectively, related to tax positions that, if recognized, would favorably impact the effective tax rate in future periods. We also accrued interest expense related to the unrecognized tax benefits of $ 31 million, $ 33 million and $ 18 million as of December 31, 2024, 2023 and 2022, respectively. We recognize potential accrued interest and penalties related to unrecognized tax benefits in income tax expense. </context> | us-gaap:UnrecognizedTaxBenefitsInterestOnIncomeTaxesAccrued |
Included in the December 31, 2024, 2023 and 2022, balances are $ 289 million, $ 314 million and $ 270 million, respectively, related to tax positions that, if recognized, would favorably impact the effective tax rate in future periods. We also accrued interest expense related to the unrecognized tax benefits of $ 31 million, $ 33 million and $ 18 million as of December 31, 2024, 2023 and 2022, respectively. We recognize potential accrued interest and penalties related to unrecognized tax benefits in income tax expense. | text | 33 | monetaryItemType | text: <entity> 33 </entity> <entity type> monetaryItemType </entity type> <context> Included in the December 31, 2024, 2023 and 2022, balances are $ 289 million, $ 314 million and $ 270 million, respectively, related to tax positions that, if recognized, would favorably impact the effective tax rate in future periods. We also accrued interest expense related to the unrecognized tax benefits of $ 31 million, $ 33 million and $ 18 million as of December 31, 2024, 2023 and 2022, respectively. We recognize potential accrued interest and penalties related to unrecognized tax benefits in income tax expense. </context> | us-gaap:UnrecognizedTaxBenefitsInterestOnIncomeTaxesAccrued |
Included in the December 31, 2024, 2023 and 2022, balances are $ 289 million, $ 314 million and $ 270 million, respectively, related to tax positions that, if recognized, would favorably impact the effective tax rate in future periods. We also accrued interest expense related to the unrecognized tax benefits of $ 31 million, $ 33 million and $ 18 million as of December 31, 2024, 2023 and 2022, respectively. We recognize potential accrued interest and penalties related to unrecognized tax benefits in income tax expense. | text | 18 | monetaryItemType | text: <entity> 18 </entity> <entity type> monetaryItemType </entity type> <context> Included in the December 31, 2024, 2023 and 2022, balances are $ 289 million, $ 314 million and $ 270 million, respectively, related to tax positions that, if recognized, would favorably impact the effective tax rate in future periods. We also accrued interest expense related to the unrecognized tax benefits of $ 31 million, $ 33 million and $ 18 million as of December 31, 2024, 2023 and 2022, respectively. We recognize potential accrued interest and penalties related to unrecognized tax benefits in income tax expense. </context> | us-gaap:UnrecognizedTaxBenefitsInterestOnIncomeTaxesAccrued |
In the fourth quarter of 2024, we wrote-off $ 107 million of inventory in our Accelera segment, mostly in work-in-process and raw materials. See NOTE 22, "ACCELERA STRATEGIC REORGANIZATION ACTIONS," for additional information. | text | 107 | monetaryItemType | text: <entity> 107 </entity> <entity type> monetaryItemType </entity type> <context> In the fourth quarter of 2024, we wrote-off $ 107 million of inventory in our Accelera segment, mostly in work-in-process and raw materials. See NOTE 22, "ACCELERA STRATEGIC REORGANIZATION ACTIONS," for additional information. </context> | us-gaap:InventoryWriteDown |
Amortization expense for software and other intangibles totaled $ 324 million, $ 324 million and $ 223 million for the years ended December 31, 2024, 2023 and 2022, respectively. The projected amortization expense of our intangible assets, assuming no further acquisitions or dispositions, is as follows: | text | 324 | monetaryItemType | text: <entity> 324 </entity> <entity type> monetaryItemType </entity type> <context> Amortization expense for software and other intangibles totaled $ 324 million, $ 324 million and $ 223 million for the years ended December 31, 2024, 2023 and 2022, respectively. The projected amortization expense of our intangible assets, assuming no further acquisitions or dispositions, is as follows: </context> | us-gaap:AmortizationOfIntangibleAssets |
Amortization expense for software and other intangibles totaled $ 324 million, $ 324 million and $ 223 million for the years ended December 31, 2024, 2023 and 2022, respectively. The projected amortization expense of our intangible assets, assuming no further acquisitions or dispositions, is as follows: | text | 223 | monetaryItemType | text: <entity> 223 </entity> <entity type> monetaryItemType </entity type> <context> Amortization expense for software and other intangibles totaled $ 324 million, $ 324 million and $ 223 million for the years ended December 31, 2024, 2023 and 2022, respectively. The projected amortization expense of our intangible assets, assuming no further acquisitions or dispositions, is as follows: </context> | us-gaap:AmortizationOfIntangibleAssets |
. In 2024 and 2023, we made $ 21 million and $ 16 million of contributions to these plans, respectively. | text | 21 | monetaryItemType | text: <entity> 21 </entity> <entity type> monetaryItemType </entity type> <context> . In 2024 and 2023, we made $ 21 million and $ 16 million of contributions to these plans, respectively. </context> | us-gaap:DefinedBenefitPlanContributionsByEmployer |
. In 2024 and 2023, we made $ 21 million and $ 16 million of contributions to these plans, respectively. | text | 16 | monetaryItemType | text: <entity> 16 </entity> <entity type> monetaryItemType </entity type> <context> . In 2024 and 2023, we made $ 21 million and $ 16 million of contributions to these plans, respectively. </context> | us-gaap:DefinedBenefitPlanContributionsByEmployer |
For the U.S. qualified pension plans, our assumption for the expected return is greatly influenced by our objective to match assets and liabilities and the increase in bond yields. Projected returns are based primarily on broad, publicly traded equity and fixed income indices and forward-looking estimates of active portfolio and investment management. We expect additional positive returns from this active investment management. Based on the historical returns and forward-looking return expectations, we elected an assumption of 7.00 percent in 2025. | text | 7.00 | percentItemType | text: <entity> 7.00 </entity> <entity type> percentItemType </entity type> <context> For the U.S. qualified pension plans, our assumption for the expected return is greatly influenced by our objective to match assets and liabilities and the increase in bond yields. Projected returns are based primarily on broad, publicly traded equity and fixed income indices and forward-looking estimates of active portfolio and investment management. We expect additional positive returns from this active investment management. Based on the historical returns and forward-looking return expectations, we elected an assumption of 7.00 percent in 2025. </context> | us-gaap:DefinedBenefitPlanAssumptionsUsedCalculatingNetPeriodicBenefitCostExpectedLongTermReturnOnAssets |
The fixed income component of the plans is structured to represent a custom bond benchmark that will closely hedge the change in the value of our liabilities. This component is structured in such a way that its benchmark covers approximately 100 percent of the plans' exposure to changes in its discount rate (AA corporate bond yields). In order to achieve a hedge on more than the targeted 71 percent of plan assets invested in fixed income securities, our Benefits Policy Committee (BPC) permits the fixed income managers, other managers or the custodian/trustee to utilize derivative securities, as part of a liability driven investment strategy to further reduce the plans' risk of changes in interest rates. However, all managers hired to manage assets for the trust are prohibited from using leverage unless approved by the BPC. | text | 71 | percentItemType | text: <entity> 71 </entity> <entity type> percentItemType </entity type> <context> The fixed income component of the plans is structured to represent a custom bond benchmark that will closely hedge the change in the value of our liabilities. This component is structured in such a way that its benchmark covers approximately 100 percent of the plans' exposure to changes in its discount rate (AA corporate bond yields). In order to achieve a hedge on more than the targeted 71 percent of plan assets invested in fixed income securities, our Benefits Policy Committee (BPC) permits the fixed income managers, other managers or the custodian/trustee to utilize derivative securities, as part of a liability driven investment strategy to further reduce the plans' risk of changes in interest rates. However, all managers hired to manage assets for the trust are prohibited from using leverage unless approved by the BPC. </context> | us-gaap:DefinedBenefitPlanPlanAssetsTargetAllocationPercentage |
As part of our strategy in the U.K. we have not prohibited the use of any financial instrument, including derivatives. As in the U.S. plans, derivatives may be used to better match liability duration and are not used in a speculative way. The fixed income component of our portfolio hedges approximately 91 percent of the plans' exposure to interest rates and 92 percent of the plans' exposure to inflation. Based on the above discussion, we elected an assumption of 5.00 percent in 2025. | text | 5.00 | percentItemType | text: <entity> 5.00 </entity> <entity type> percentItemType </entity type> <context> As part of our strategy in the U.K. we have not prohibited the use of any financial instrument, including derivatives. As in the U.S. plans, derivatives may be used to better match liability duration and are not used in a speculative way. The fixed income component of our portfolio hedges approximately 91 percent of the plans' exposure to interest rates and 92 percent of the plans' exposure to inflation. Based on the above discussion, we elected an assumption of 5.00 percent in 2025. </context> | us-gaap:DefinedBenefitPlanAssumptionsUsedCalculatingNetPeriodicBenefitCostExpectedLongTermReturnOnAssets |
($ 912 million and $ 915 million at December 31, 2024 and 2023, respectively) - These commingled funds have observable NAVs provided to investors and provide for liquidity either immediately or within a couple of days. | text | 912 | monetaryItemType | text: <entity> 912 </entity> <entity type> monetaryItemType </entity type> <context> ($ 912 million and $ 915 million at December 31, 2024 and 2023, respectively) - These commingled funds have observable NAVs provided to investors and provide for liquidity either immediately or within a couple of days. </context> | us-gaap:DefinedBenefitPlanFairValueOfPlanAssets |
($ 912 million and $ 915 million at December 31, 2024 and 2023, respectively) - These commingled funds have observable NAVs provided to investors and provide for liquidity either immediately or within a couple of days. | text | 915 | monetaryItemType | text: <entity> 915 </entity> <entity type> monetaryItemType </entity type> <context> ($ 912 million and $ 915 million at December 31, 2024 and 2023, respectively) - These commingled funds have observable NAVs provided to investors and provide for liquidity either immediately or within a couple of days. </context> | us-gaap:DefinedBenefitPlanFairValueOfPlanAssets |
($ 327 million and $ 307 million at December 31, 2024 and 2023, respectively) - This asset type represents investments in fixed- and floating-rate loans. These funds are valued using NAVs and allow quarterly or more frequent redemptions. | text | 327 | monetaryItemType | text: <entity> 327 </entity> <entity type> monetaryItemType </entity type> <context> ($ 327 million and $ 307 million at December 31, 2024 and 2023, respectively) - This asset type represents investments in fixed- and floating-rate loans. These funds are valued using NAVs and allow quarterly or more frequent redemptions. </context> | us-gaap:DefinedBenefitPlanFairValueOfPlanAssets |
($ 327 million and $ 307 million at December 31, 2024 and 2023, respectively) - This asset type represents investments in fixed- and floating-rate loans. These funds are valued using NAVs and allow quarterly or more frequent redemptions. | text | 307 | monetaryItemType | text: <entity> 307 </entity> <entity type> monetaryItemType </entity type> <context> ($ 327 million and $ 307 million at December 31, 2024 and 2023, respectively) - This asset type represents investments in fixed- and floating-rate loans. These funds are valued using NAVs and allow quarterly or more frequent redemptions. </context> | us-gaap:DefinedBenefitPlanFairValueOfPlanAssets |
($ 260 million and $ 222 million at December 31, 2024 and 2023, respectively) | text | 260 | monetaryItemType | text: <entity> 260 </entity> <entity type> monetaryItemType </entity type> <context> ($ 260 million and $ 222 million at December 31, 2024 and 2023, respectively) </context> | us-gaap:DefinedBenefitPlanFairValueOfPlanAssets |
($ 260 million and $ 222 million at December 31, 2024 and 2023, respectively) | text | 222 | monetaryItemType | text: <entity> 222 </entity> <entity type> monetaryItemType </entity type> <context> ($ 260 million and $ 222 million at December 31, 2024 and 2023, respectively) </context> | us-gaap:DefinedBenefitPlanFairValueOfPlanAssets |
($ 235 million and $ 257 million at December 31, 2024 and 2023, respectively) - These commingled funds have observable NAVs provided to investors and provide for liquidity either immediately or within a couple of days. | text | 235 | monetaryItemType | text: <entity> 235 </entity> <entity type> monetaryItemType </entity type> <context> ($ 235 million and $ 257 million at December 31, 2024 and 2023, respectively) - These commingled funds have observable NAVs provided to investors and provide for liquidity either immediately or within a couple of days. </context> | us-gaap:DefinedBenefitPlanFairValueOfPlanAssets |
($ 235 million and $ 257 million at December 31, 2024 and 2023, respectively) - These commingled funds have observable NAVs provided to investors and provide for liquidity either immediately or within a couple of days. | text | 257 | monetaryItemType | text: <entity> 257 </entity> <entity type> monetaryItemType </entity type> <context> ($ 235 million and $ 257 million at December 31, 2024 and 2023, respectively) - These commingled funds have observable NAVs provided to investors and provide for liquidity either immediately or within a couple of days. </context> | us-gaap:DefinedBenefitPlanFairValueOfPlanAssets |
($ 121 million and $ 134 million at December 31, 2024 and 2023, respectively) - This asset type represents different types of real estate including development property, industrial property, individual mortgages, office property, property investment companies and retail property. These funds are valued using NAVs and allow quarterly or more frequent redemptions. | text | 121 | monetaryItemType | text: <entity> 121 </entity> <entity type> monetaryItemType </entity type> <context> ($ 121 million and $ 134 million at December 31, 2024 and 2023, respectively) - This asset type represents different types of real estate including development property, industrial property, individual mortgages, office property, property investment companies and retail property. These funds are valued using NAVs and allow quarterly or more frequent redemptions. </context> | us-gaap:DefinedBenefitPlanFairValueOfPlanAssets |
($ 121 million and $ 134 million at December 31, 2024 and 2023, respectively) - This asset type represents different types of real estate including development property, industrial property, individual mortgages, office property, property investment companies and retail property. These funds are valued using NAVs and allow quarterly or more frequent redemptions. | text | 134 | monetaryItemType | text: <entity> 134 </entity> <entity type> monetaryItemType </entity type> <context> ($ 121 million and $ 134 million at December 31, 2024 and 2023, respectively) - This asset type represents different types of real estate including development property, industrial property, individual mortgages, office property, property investment companies and retail property. These funds are valued using NAVs and allow quarterly or more frequent redemptions. </context> | us-gaap:DefinedBenefitPlanFairValueOfPlanAssets |
($ 434 million and $ 572 million at December 31, 2024 and 2023, respectively) - These commingled funds have observable NAVs provided to investors and provide for liquidity either immediately or within a couple of days. | text | 434 | monetaryItemType | text: <entity> 434 </entity> <entity type> monetaryItemType </entity type> <context> ($ 434 million and $ 572 million at December 31, 2024 and 2023, respectively) - These commingled funds have observable NAVs provided to investors and provide for liquidity either immediately or within a couple of days. </context> | us-gaap:DefinedBenefitPlanFairValueOfPlanAssets |
($ 434 million and $ 572 million at December 31, 2024 and 2023, respectively) - These commingled funds have observable NAVs provided to investors and provide for liquidity either immediately or within a couple of days. | text | 572 | monetaryItemType | text: <entity> 572 </entity> <entity type> monetaryItemType </entity type> <context> ($ 434 million and $ 572 million at December 31, 2024 and 2023, respectively) - These commingled funds have observable NAVs provided to investors and provide for liquidity either immediately or within a couple of days. </context> | us-gaap:DefinedBenefitPlanFairValueOfPlanAssets |
($ 96 million and $ 71 million at December 31, 2024 and 2023, respectively) - These commingled funds have observable NAVs provided to investors and provide for liquidity either immediately or within a couple of days. | text | 96 | monetaryItemType | text: <entity> 96 </entity> <entity type> monetaryItemType </entity type> <context> ($ 96 million and $ 71 million at December 31, 2024 and 2023, respectively) - These commingled funds have observable NAVs provided to investors and provide for liquidity either immediately or within a couple of days. </context> | us-gaap:DefinedBenefitPlanFairValueOfPlanAssets |
($ 96 million and $ 71 million at December 31, 2024 and 2023, respectively) - These commingled funds have observable NAVs provided to investors and provide for liquidity either immediately or within a couple of days. | text | 71 | monetaryItemType | text: <entity> 71 </entity> <entity type> monetaryItemType </entity type> <context> ($ 96 million and $ 71 million at December 31, 2024 and 2023, respectively) - These commingled funds have observable NAVs provided to investors and provide for liquidity either immediately or within a couple of days. </context> | us-gaap:DefinedBenefitPlanFairValueOfPlanAssets |
($ 92 million and $ 117 million at December 31, 2024 and 2023, respectively) - This asset type represents investments in fixed- and floating-rate loans. These funds are valued using NAVs and allow quarterly or more frequent redemptions. | text | 92 | monetaryItemType | text: <entity> 92 </entity> <entity type> monetaryItemType </entity type> <context> ($ 92 million and $ 117 million at December 31, 2024 and 2023, respectively) - This asset type represents investments in fixed- and floating-rate loans. These funds are valued using NAVs and allow quarterly or more frequent redemptions. </context> | us-gaap:DefinedBenefitPlanFairValueOfPlanAssets |
($ 92 million and $ 117 million at December 31, 2024 and 2023, respectively) - This asset type represents investments in fixed- and floating-rate loans. These funds are valued using NAVs and allow quarterly or more frequent redemptions. | text | 117 | monetaryItemType | text: <entity> 117 </entity> <entity type> monetaryItemType </entity type> <context> ($ 92 million and $ 117 million at December 31, 2024 and 2023, respectively) - This asset type represents investments in fixed- and floating-rate loans. These funds are valued using NAVs and allow quarterly or more frequent redemptions. </context> | us-gaap:DefinedBenefitPlanFairValueOfPlanAssets |
($ 4 million and $ 6 million at December 31, 2024 and 2023, respectively) - This commingled fund has a NAV that is determined on a monthly basis and the investment may be sold at that value. | text | 4 | monetaryItemType | text: <entity> 4 </entity> <entity type> monetaryItemType </entity type> <context> ($ 4 million and $ 6 million at December 31, 2024 and 2023, respectively) - This commingled fund has a NAV that is determined on a monthly basis and the investment may be sold at that value. </context> | us-gaap:DefinedBenefitPlanFairValueOfPlanAssets |
($ 4 million and $ 6 million at December 31, 2024 and 2023, respectively) - This commingled fund has a NAV that is determined on a monthly basis and the investment may be sold at that value. | text | 6 | monetaryItemType | text: <entity> 6 </entity> <entity type> monetaryItemType </entity type> <context> ($ 4 million and $ 6 million at December 31, 2024 and 2023, respectively) - This commingled fund has a NAV that is determined on a monthly basis and the investment may be sold at that value. </context> | us-gaap:DefinedBenefitPlanFairValueOfPlanAssets |
We plan to contribute approximately $ 52 million to our defined benefit pension plans in 2025. The table below presents expected future benefit payments under our pension plans: | text | 52 | monetaryItemType | text: <entity> 52 </entity> <entity type> monetaryItemType </entity type> <context> We plan to contribute approximately $ 52 million to our defined benefit pension plans in 2025. The table below presents expected future benefit payments under our pension plans: </context> | us-gaap:DefinedBenefitPlanExpectedFutureEmployerContributionsCurrentFiscalYear |
We also sponsor defined contribution plans for certain hourly and salaried employees. Our contributions to these plans were $ 126 million, $ 130 million and $ 110 million for the years ended December 31, 2024, 2023 and 2022. | text | 126 | monetaryItemType | text: <entity> 126 </entity> <entity type> monetaryItemType </entity type> <context> We also sponsor defined contribution plans for certain hourly and salaried employees. Our contributions to these plans were $ 126 million, $ 130 million and $ 110 million for the years ended December 31, 2024, 2023 and 2022. </context> | us-gaap:DefinedContributionPlanCostRecognized |
We also sponsor defined contribution plans for certain hourly and salaried employees. Our contributions to these plans were $ 126 million, $ 130 million and $ 110 million for the years ended December 31, 2024, 2023 and 2022. | text | 130 | monetaryItemType | text: <entity> 130 </entity> <entity type> monetaryItemType </entity type> <context> We also sponsor defined contribution plans for certain hourly and salaried employees. Our contributions to these plans were $ 126 million, $ 130 million and $ 110 million for the years ended December 31, 2024, 2023 and 2022. </context> | us-gaap:DefinedContributionPlanCostRecognized |
We also sponsor defined contribution plans for certain hourly and salaried employees. Our contributions to these plans were $ 126 million, $ 130 million and $ 110 million for the years ended December 31, 2024, 2023 and 2022. | text | 110 | monetaryItemType | text: <entity> 110 </entity> <entity type> monetaryItemType </entity type> <context> We also sponsor defined contribution plans for certain hourly and salaried employees. Our contributions to these plans were $ 126 million, $ 130 million and $ 110 million for the years ended December 31, 2024, 2023 and 2022. </context> | us-gaap:DefinedContributionPlanCostRecognized |
Our consolidated OPEB obligation is determined by application of the terms of health care and life insurance plans, together with relevant actuarial assumptions and health care cost trend rates. For measurement purposes, a 6.75 percent annual rate of increase in the per capita cost of covered health care benefits was assumed in 2024. The rate is assumed to decrease on a linear basis to 5.0 percent through 2032 and remain at that level thereafter. | text | 6.75 | percentItemType | text: <entity> 6.75 </entity> <entity type> percentItemType </entity type> <context> Our consolidated OPEB obligation is determined by application of the terms of health care and life insurance plans, together with relevant actuarial assumptions and health care cost trend rates. For measurement purposes, a 6.75 percent annual rate of increase in the per capita cost of covered health care benefits was assumed in 2024. The rate is assumed to decrease on a linear basis to 5.0 percent through 2032 and remain at that level thereafter. </context> | us-gaap:DefinedBenefitPlanHealthCareCostTrendRateAssumedNextFiscalYear |
Our consolidated OPEB obligation is determined by application of the terms of health care and life insurance plans, together with relevant actuarial assumptions and health care cost trend rates. For measurement purposes, a 6.75 percent annual rate of increase in the per capita cost of covered health care benefits was assumed in 2024. The rate is assumed to decrease on a linear basis to 5.0 percent through 2032 and remain at that level thereafter. | text | 5.0 | percentItemType | text: <entity> 5.0 </entity> <entity type> percentItemType </entity type> <context> Our consolidated OPEB obligation is determined by application of the terms of health care and life insurance plans, together with relevant actuarial assumptions and health care cost trend rates. For measurement purposes, a 6.75 percent annual rate of increase in the per capita cost of covered health care benefits was assumed in 2024. The rate is assumed to decrease on a linear basis to 5.0 percent through 2032 and remain at that level thereafter. </context> | us-gaap:DefinedBenefitPlanUltimateHealthCareCostTrendRate1 |
Loans payable at December 31, 2024 and 2023 were $ 356 million and $ 280 million, respectively, and consisted primarily of loans payable to financial institutions. The weighted-average interest rate of loans payable at December 31 was as follows: | text | 356 | monetaryItemType | text: <entity> 356 </entity> <entity type> monetaryItemType </entity type> <context> Loans payable at December 31, 2024 and 2023 were $ 356 million and $ 280 million, respectively, and consisted primarily of loans payable to financial institutions. The weighted-average interest rate of loans payable at December 31 was as follows: </context> | us-gaap:ShortTermBankLoansAndNotesPayable |
Loans payable at December 31, 2024 and 2023 were $ 356 million and $ 280 million, respectively, and consisted primarily of loans payable to financial institutions. The weighted-average interest rate of loans payable at December 31 was as follows: | text | 280 | monetaryItemType | text: <entity> 280 </entity> <entity type> monetaryItemType </entity type> <context> Loans payable at December 31, 2024 and 2023 were $ 356 million and $ 280 million, respectively, and consisted primarily of loans payable to financial institutions. The weighted-average interest rate of loans payable at December 31 was as follows: </context> | us-gaap:ShortTermBankLoansAndNotesPayable |
Our committed credit facilities provide access up to $ 4.0 billion of unsecured, short-term promissory notes (commercial paper) pursuant to the Board authorized commercial paper programs. These programs facilitate the private placement of unsecured short-term debt through third-party brokers. We intend to use the net proceeds from the commercial paper borrowings for general corporate purposes. We had $ 1.3 billion and $ 1.5 billion in outstanding borrowings under our commercial paper programs at December 31, 2024 and 2023, respectively. The weighted-average interest rate for commercial paper at December 31 was as follows: | text | 4.0 | monetaryItemType | text: <entity> 4.0 </entity> <entity type> monetaryItemType </entity type> <context> Our committed credit facilities provide access up to $ 4.0 billion of unsecured, short-term promissory notes (commercial paper) pursuant to the Board authorized commercial paper programs. These programs facilitate the private placement of unsecured short-term debt through third-party brokers. We intend to use the net proceeds from the commercial paper borrowings for general corporate purposes. We had $ 1.3 billion and $ 1.5 billion in outstanding borrowings under our commercial paper programs at December 31, 2024 and 2023, respectively. The weighted-average interest rate for commercial paper at December 31 was as follows: </context> | us-gaap:LineOfCreditFacilityMaximumBorrowingCapacity |
Our committed credit facilities provide access up to $ 4.0 billion of unsecured, short-term promissory notes (commercial paper) pursuant to the Board authorized commercial paper programs. These programs facilitate the private placement of unsecured short-term debt through third-party brokers. We intend to use the net proceeds from the commercial paper borrowings for general corporate purposes. We had $ 1.3 billion and $ 1.5 billion in outstanding borrowings under our commercial paper programs at December 31, 2024 and 2023, respectively. The weighted-average interest rate for commercial paper at December 31 was as follows: | text | 1.3 | monetaryItemType | text: <entity> 1.3 </entity> <entity type> monetaryItemType </entity type> <context> Our committed credit facilities provide access up to $ 4.0 billion of unsecured, short-term promissory notes (commercial paper) pursuant to the Board authorized commercial paper programs. These programs facilitate the private placement of unsecured short-term debt through third-party brokers. We intend to use the net proceeds from the commercial paper borrowings for general corporate purposes. We had $ 1.3 billion and $ 1.5 billion in outstanding borrowings under our commercial paper programs at December 31, 2024 and 2023, respectively. The weighted-average interest rate for commercial paper at December 31 was as follows: </context> | us-gaap:CommercialPaper |
Our committed credit facilities provide access up to $ 4.0 billion of unsecured, short-term promissory notes (commercial paper) pursuant to the Board authorized commercial paper programs. These programs facilitate the private placement of unsecured short-term debt through third-party brokers. We intend to use the net proceeds from the commercial paper borrowings for general corporate purposes. We had $ 1.3 billion and $ 1.5 billion in outstanding borrowings under our commercial paper programs at December 31, 2024 and 2023, respectively. The weighted-average interest rate for commercial paper at December 31 was as follows: | text | 1.5 | monetaryItemType | text: <entity> 1.5 </entity> <entity type> monetaryItemType </entity type> <context> Our committed credit facilities provide access up to $ 4.0 billion of unsecured, short-term promissory notes (commercial paper) pursuant to the Board authorized commercial paper programs. These programs facilitate the private placement of unsecured short-term debt through third-party brokers. We intend to use the net proceeds from the commercial paper borrowings for general corporate purposes. We had $ 1.3 billion and $ 1.5 billion in outstanding borrowings under our commercial paper programs at December 31, 2024 and 2023, respectively. The weighted-average interest rate for commercial paper at December 31 was as follows: </context> | us-gaap:CommercialPaper |
On June 3, 2024, we entered into an amended and restated 5 -year credit agreement that allows us to borrow up to $ 2.0 billion of unsecured funds at any time prior to June 3, 2029. The credit agreement amended and restated the prior $ 2.0 billion 5 -year credit agreement that would have matured on August 18, 2026. We also entered into an amended and restated 364 -day credit agreement that allows us to borrow up to $ 2.0 billion of unsecured funds at any time prior to June 2, 2025. This credit agreement amended and restated the prior $ 2.0 billion 364 -day credit facility that matured on June 3, 2024. | text | 2.0 | monetaryItemType | text: <entity> 2.0 </entity> <entity type> monetaryItemType </entity type> <context> On June 3, 2024, we entered into an amended and restated 5 -year credit agreement that allows us to borrow up to $ 2.0 billion of unsecured funds at any time prior to June 3, 2029. The credit agreement amended and restated the prior $ 2.0 billion 5 -year credit agreement that would have matured on August 18, 2026. We also entered into an amended and restated 364 -day credit agreement that allows us to borrow up to $ 2.0 billion of unsecured funds at any time prior to June 2, 2025. This credit agreement amended and restated the prior $ 2.0 billion 364 -day credit facility that matured on June 3, 2024. </context> | us-gaap:LineOfCreditFacilityMaximumBorrowingCapacity |
Our committed credit facilities provide access up to $ 4.0 billion from our $ 2.0 billion 364 -day credit facility that expires on June 2, 2025 and our $ 2.0 billion 5 -year facility that expires on June 3, 2029. We intend to maintain credit facilities at the current or higher aggregate amounts by renewing or replacing these facilities at or before expiration. | text | 4.0 | monetaryItemType | text: <entity> 4.0 </entity> <entity type> monetaryItemType </entity type> <context> Our committed credit facilities provide access up to $ 4.0 billion from our $ 2.0 billion 364 -day credit facility that expires on June 2, 2025 and our $ 2.0 billion 5 -year facility that expires on June 3, 2029. We intend to maintain credit facilities at the current or higher aggregate amounts by renewing or replacing these facilities at or before expiration. </context> | us-gaap:LineOfCreditFacilityMaximumBorrowingCapacity |
Our committed credit facilities provide access up to $ 4.0 billion from our $ 2.0 billion 364 -day credit facility that expires on June 2, 2025 and our $ 2.0 billion 5 -year facility that expires on June 3, 2029. We intend to maintain credit facilities at the current or higher aggregate amounts by renewing or replacing these facilities at or before expiration. | text | 2.0 | monetaryItemType | text: <entity> 2.0 </entity> <entity type> monetaryItemType </entity type> <context> Our committed credit facilities provide access up to $ 4.0 billion from our $ 2.0 billion 364 -day credit facility that expires on June 2, 2025 and our $ 2.0 billion 5 -year facility that expires on June 3, 2029. We intend to maintain credit facilities at the current or higher aggregate amounts by renewing or replacing these facilities at or before expiration. </context> | us-gaap:LineOfCreditFacilityMaximumBorrowingCapacity |
Amounts payable under our revolving credit facility rank pro rata with all of our unsecured, unsubordinated indebtedness. Up to $ 300 million under this credit facility is available for swingline loans. Based on our current long-term debt ratings, the applicable margin on Secured Overnight Financing Rate ( | text | 300 | monetaryItemType | text: <entity> 300 </entity> <entity type> monetaryItemType </entity type> <context> Amounts payable under our revolving credit facility rank pro rata with all of our unsecured, unsubordinated indebtedness. Up to $ 300 million under this credit facility is available for swingline loans. Based on our current long-term debt ratings, the applicable margin on Secured Overnight Financing Rate ( </context> | us-gaap:LineOfCreditFacilityCapacityAvailableForSpecificPurposeOtherThanForTradePurchases |
0.85 percent per annum and 0.975 percent for the | text | 0.85 | percentItemType | text: <entity> 0.85 </entity> <entity type> percentItemType </entity type> <context> 0.85 percent per annum and 0.975 percent for the </context> | us-gaap:DebtInstrumentBasisSpreadOnVariableRate1 |
0.85 percent per annum and 0.975 percent for the | text | 0.975 | percentItemType | text: <entity> 0.975 </entity> <entity type> percentItemType </entity type> <context> 0.85 percent per annum and 0.975 percent for the </context> | us-gaap:DebtInstrumentBasisSpreadOnVariableRate1 |
The total combined borrowing capacity under the revolving credit facilities and commercial programs should not exceed $ 4.0 billion. At December 31, 2024, our $ 1.3 billion of commercial paper outstanding effectively reduced the $ 4.0 billion available capacity under our revolving credit facilities to $ 2.7 billion. | text | 4.0 | monetaryItemType | text: <entity> 4.0 </entity> <entity type> monetaryItemType </entity type> <context> The total combined borrowing capacity under the revolving credit facilities and commercial programs should not exceed $ 4.0 billion. At December 31, 2024, our $ 1.3 billion of commercial paper outstanding effectively reduced the $ 4.0 billion available capacity under our revolving credit facilities to $ 2.7 billion. </context> | us-gaap:LineOfCreditFacilityMaximumBorrowingCapacity |
The total combined borrowing capacity under the revolving credit facilities and commercial programs should not exceed $ 4.0 billion. At December 31, 2024, our $ 1.3 billion of commercial paper outstanding effectively reduced the $ 4.0 billion available capacity under our revolving credit facilities to $ 2.7 billion. | text | 1.3 | monetaryItemType | text: <entity> 1.3 </entity> <entity type> monetaryItemType </entity type> <context> The total combined borrowing capacity under the revolving credit facilities and commercial programs should not exceed $ 4.0 billion. At December 31, 2024, our $ 1.3 billion of commercial paper outstanding effectively reduced the $ 4.0 billion available capacity under our revolving credit facilities to $ 2.7 billion. </context> | us-gaap:CommercialPaper |
The total combined borrowing capacity under the revolving credit facilities and commercial programs should not exceed $ 4.0 billion. At December 31, 2024, our $ 1.3 billion of commercial paper outstanding effectively reduced the $ 4.0 billion available capacity under our revolving credit facilities to $ 2.7 billion. | text | 2.7 | monetaryItemType | text: <entity> 2.7 </entity> <entity type> monetaryItemType </entity type> <context> The total combined borrowing capacity under the revolving credit facilities and commercial programs should not exceed $ 4.0 billion. At December 31, 2024, our $ 1.3 billion of commercial paper outstanding effectively reduced the $ 4.0 billion available capacity under our revolving credit facilities to $ 2.7 billion. </context> | us-gaap:LineOfCreditFacilityRemainingBorrowingCapacity |
At December 31, 2024, we also had an additional $ 628 million available for borrowings under our uncommitted international and other domestic credit facilities. | text | 628 | monetaryItemType | text: <entity> 628 </entity> <entity type> monetaryItemType </entity type> <context> At December 31, 2024, we also had an additional $ 628 million available for borrowings under our uncommitted international and other domestic credit facilities. </context> | us-gaap:LineOfCreditFacilityRemainingBorrowingCapacity |
On February 20, 2024, we issued $ 2.25 billion aggregate principal amount of senior unsecured notes consisting of $ 500 million aggregate principal amount of 4.90 percent senior unsecured notes due in 2029, $ 750 million aggregate principal amount of 5.15 percent senior unsecured notes due in 2034 and $ 1.0 billion aggregate principal amount of 5.45 percent senior unsecured notes due in 2054. We received net proceeds of $ 2.2 billion. The senior unsecured notes pay interest semi-annually on February 20 and August 20, commencing on August 20, 2024. The indenture governing the senior unsecured notes contains covenants that, among other matters, limit (i) our ability to consolidate or merge into, or sell, assign, convey, lease, transfer or otherwise dispose of all or substantially all of our and our subsidiaries' assets to another person, (ii) our and certain of our subsidiaries' ability to create or assume liens and (iii) our and certain of our subsidiaries' ability to engage in sale and leaseback transactions. | text | 2.25 | monetaryItemType | text: <entity> 2.25 </entity> <entity type> monetaryItemType </entity type> <context> On February 20, 2024, we issued $ 2.25 billion aggregate principal amount of senior unsecured notes consisting of $ 500 million aggregate principal amount of 4.90 percent senior unsecured notes due in 2029, $ 750 million aggregate principal amount of 5.15 percent senior unsecured notes due in 2034 and $ 1.0 billion aggregate principal amount of 5.45 percent senior unsecured notes due in 2054. We received net proceeds of $ 2.2 billion. The senior unsecured notes pay interest semi-annually on February 20 and August 20, commencing on August 20, 2024. The indenture governing the senior unsecured notes contains covenants that, among other matters, limit (i) our ability to consolidate or merge into, or sell, assign, convey, lease, transfer or otherwise dispose of all or substantially all of our and our subsidiaries' assets to another person, (ii) our and certain of our subsidiaries' ability to create or assume liens and (iii) our and certain of our subsidiaries' ability to engage in sale and leaseback transactions. </context> | us-gaap:UnsecuredDebt |
On February 20, 2024, we issued $ 2.25 billion aggregate principal amount of senior unsecured notes consisting of $ 500 million aggregate principal amount of 4.90 percent senior unsecured notes due in 2029, $ 750 million aggregate principal amount of 5.15 percent senior unsecured notes due in 2034 and $ 1.0 billion aggregate principal amount of 5.45 percent senior unsecured notes due in 2054. We received net proceeds of $ 2.2 billion. The senior unsecured notes pay interest semi-annually on February 20 and August 20, commencing on August 20, 2024. The indenture governing the senior unsecured notes contains covenants that, among other matters, limit (i) our ability to consolidate or merge into, or sell, assign, convey, lease, transfer or otherwise dispose of all or substantially all of our and our subsidiaries' assets to another person, (ii) our and certain of our subsidiaries' ability to create or assume liens and (iii) our and certain of our subsidiaries' ability to engage in sale and leaseback transactions. | text | 500 | monetaryItemType | text: <entity> 500 </entity> <entity type> monetaryItemType </entity type> <context> On February 20, 2024, we issued $ 2.25 billion aggregate principal amount of senior unsecured notes consisting of $ 500 million aggregate principal amount of 4.90 percent senior unsecured notes due in 2029, $ 750 million aggregate principal amount of 5.15 percent senior unsecured notes due in 2034 and $ 1.0 billion aggregate principal amount of 5.45 percent senior unsecured notes due in 2054. We received net proceeds of $ 2.2 billion. The senior unsecured notes pay interest semi-annually on February 20 and August 20, commencing on August 20, 2024. The indenture governing the senior unsecured notes contains covenants that, among other matters, limit (i) our ability to consolidate or merge into, or sell, assign, convey, lease, transfer or otherwise dispose of all or substantially all of our and our subsidiaries' assets to another person, (ii) our and certain of our subsidiaries' ability to create or assume liens and (iii) our and certain of our subsidiaries' ability to engage in sale and leaseback transactions. </context> | us-gaap:UnsecuredDebt |
On February 20, 2024, we issued $ 2.25 billion aggregate principal amount of senior unsecured notes consisting of $ 500 million aggregate principal amount of 4.90 percent senior unsecured notes due in 2029, $ 750 million aggregate principal amount of 5.15 percent senior unsecured notes due in 2034 and $ 1.0 billion aggregate principal amount of 5.45 percent senior unsecured notes due in 2054. We received net proceeds of $ 2.2 billion. The senior unsecured notes pay interest semi-annually on February 20 and August 20, commencing on August 20, 2024. The indenture governing the senior unsecured notes contains covenants that, among other matters, limit (i) our ability to consolidate or merge into, or sell, assign, convey, lease, transfer or otherwise dispose of all or substantially all of our and our subsidiaries' assets to another person, (ii) our and certain of our subsidiaries' ability to create or assume liens and (iii) our and certain of our subsidiaries' ability to engage in sale and leaseback transactions. | text | 4.90 | percentItemType | text: <entity> 4.90 </entity> <entity type> percentItemType </entity type> <context> On February 20, 2024, we issued $ 2.25 billion aggregate principal amount of senior unsecured notes consisting of $ 500 million aggregate principal amount of 4.90 percent senior unsecured notes due in 2029, $ 750 million aggregate principal amount of 5.15 percent senior unsecured notes due in 2034 and $ 1.0 billion aggregate principal amount of 5.45 percent senior unsecured notes due in 2054. We received net proceeds of $ 2.2 billion. The senior unsecured notes pay interest semi-annually on February 20 and August 20, commencing on August 20, 2024. The indenture governing the senior unsecured notes contains covenants that, among other matters, limit (i) our ability to consolidate or merge into, or sell, assign, convey, lease, transfer or otherwise dispose of all or substantially all of our and our subsidiaries' assets to another person, (ii) our and certain of our subsidiaries' ability to create or assume liens and (iii) our and certain of our subsidiaries' ability to engage in sale and leaseback transactions. </context> | us-gaap:DebtInstrumentInterestRateStatedPercentage |
On February 20, 2024, we issued $ 2.25 billion aggregate principal amount of senior unsecured notes consisting of $ 500 million aggregate principal amount of 4.90 percent senior unsecured notes due in 2029, $ 750 million aggregate principal amount of 5.15 percent senior unsecured notes due in 2034 and $ 1.0 billion aggregate principal amount of 5.45 percent senior unsecured notes due in 2054. We received net proceeds of $ 2.2 billion. The senior unsecured notes pay interest semi-annually on February 20 and August 20, commencing on August 20, 2024. The indenture governing the senior unsecured notes contains covenants that, among other matters, limit (i) our ability to consolidate or merge into, or sell, assign, convey, lease, transfer or otherwise dispose of all or substantially all of our and our subsidiaries' assets to another person, (ii) our and certain of our subsidiaries' ability to create or assume liens and (iii) our and certain of our subsidiaries' ability to engage in sale and leaseback transactions. | text | 750 | monetaryItemType | text: <entity> 750 </entity> <entity type> monetaryItemType </entity type> <context> On February 20, 2024, we issued $ 2.25 billion aggregate principal amount of senior unsecured notes consisting of $ 500 million aggregate principal amount of 4.90 percent senior unsecured notes due in 2029, $ 750 million aggregate principal amount of 5.15 percent senior unsecured notes due in 2034 and $ 1.0 billion aggregate principal amount of 5.45 percent senior unsecured notes due in 2054. We received net proceeds of $ 2.2 billion. The senior unsecured notes pay interest semi-annually on February 20 and August 20, commencing on August 20, 2024. The indenture governing the senior unsecured notes contains covenants that, among other matters, limit (i) our ability to consolidate or merge into, or sell, assign, convey, lease, transfer or otherwise dispose of all or substantially all of our and our subsidiaries' assets to another person, (ii) our and certain of our subsidiaries' ability to create or assume liens and (iii) our and certain of our subsidiaries' ability to engage in sale and leaseback transactions. </context> | us-gaap:UnsecuredDebt |
On February 20, 2024, we issued $ 2.25 billion aggregate principal amount of senior unsecured notes consisting of $ 500 million aggregate principal amount of 4.90 percent senior unsecured notes due in 2029, $ 750 million aggregate principal amount of 5.15 percent senior unsecured notes due in 2034 and $ 1.0 billion aggregate principal amount of 5.45 percent senior unsecured notes due in 2054. We received net proceeds of $ 2.2 billion. The senior unsecured notes pay interest semi-annually on February 20 and August 20, commencing on August 20, 2024. The indenture governing the senior unsecured notes contains covenants that, among other matters, limit (i) our ability to consolidate or merge into, or sell, assign, convey, lease, transfer or otherwise dispose of all or substantially all of our and our subsidiaries' assets to another person, (ii) our and certain of our subsidiaries' ability to create or assume liens and (iii) our and certain of our subsidiaries' ability to engage in sale and leaseback transactions. | text | 5.15 | percentItemType | text: <entity> 5.15 </entity> <entity type> percentItemType </entity type> <context> On February 20, 2024, we issued $ 2.25 billion aggregate principal amount of senior unsecured notes consisting of $ 500 million aggregate principal amount of 4.90 percent senior unsecured notes due in 2029, $ 750 million aggregate principal amount of 5.15 percent senior unsecured notes due in 2034 and $ 1.0 billion aggregate principal amount of 5.45 percent senior unsecured notes due in 2054. We received net proceeds of $ 2.2 billion. The senior unsecured notes pay interest semi-annually on February 20 and August 20, commencing on August 20, 2024. The indenture governing the senior unsecured notes contains covenants that, among other matters, limit (i) our ability to consolidate or merge into, or sell, assign, convey, lease, transfer or otherwise dispose of all or substantially all of our and our subsidiaries' assets to another person, (ii) our and certain of our subsidiaries' ability to create or assume liens and (iii) our and certain of our subsidiaries' ability to engage in sale and leaseback transactions. </context> | us-gaap:DebtInstrumentInterestRateStatedPercentage |
On February 20, 2024, we issued $ 2.25 billion aggregate principal amount of senior unsecured notes consisting of $ 500 million aggregate principal amount of 4.90 percent senior unsecured notes due in 2029, $ 750 million aggregate principal amount of 5.15 percent senior unsecured notes due in 2034 and $ 1.0 billion aggregate principal amount of 5.45 percent senior unsecured notes due in 2054. We received net proceeds of $ 2.2 billion. The senior unsecured notes pay interest semi-annually on February 20 and August 20, commencing on August 20, 2024. The indenture governing the senior unsecured notes contains covenants that, among other matters, limit (i) our ability to consolidate or merge into, or sell, assign, convey, lease, transfer or otherwise dispose of all or substantially all of our and our subsidiaries' assets to another person, (ii) our and certain of our subsidiaries' ability to create or assume liens and (iii) our and certain of our subsidiaries' ability to engage in sale and leaseback transactions. | text | 1.0 | monetaryItemType | text: <entity> 1.0 </entity> <entity type> monetaryItemType </entity type> <context> On February 20, 2024, we issued $ 2.25 billion aggregate principal amount of senior unsecured notes consisting of $ 500 million aggregate principal amount of 4.90 percent senior unsecured notes due in 2029, $ 750 million aggregate principal amount of 5.15 percent senior unsecured notes due in 2034 and $ 1.0 billion aggregate principal amount of 5.45 percent senior unsecured notes due in 2054. We received net proceeds of $ 2.2 billion. The senior unsecured notes pay interest semi-annually on February 20 and August 20, commencing on August 20, 2024. The indenture governing the senior unsecured notes contains covenants that, among other matters, limit (i) our ability to consolidate or merge into, or sell, assign, convey, lease, transfer or otherwise dispose of all or substantially all of our and our subsidiaries' assets to another person, (ii) our and certain of our subsidiaries' ability to create or assume liens and (iii) our and certain of our subsidiaries' ability to engage in sale and leaseback transactions. </context> | us-gaap:UnsecuredDebt |
On February 20, 2024, we issued $ 2.25 billion aggregate principal amount of senior unsecured notes consisting of $ 500 million aggregate principal amount of 4.90 percent senior unsecured notes due in 2029, $ 750 million aggregate principal amount of 5.15 percent senior unsecured notes due in 2034 and $ 1.0 billion aggregate principal amount of 5.45 percent senior unsecured notes due in 2054. We received net proceeds of $ 2.2 billion. The senior unsecured notes pay interest semi-annually on February 20 and August 20, commencing on August 20, 2024. The indenture governing the senior unsecured notes contains covenants that, among other matters, limit (i) our ability to consolidate or merge into, or sell, assign, convey, lease, transfer or otherwise dispose of all or substantially all of our and our subsidiaries' assets to another person, (ii) our and certain of our subsidiaries' ability to create or assume liens and (iii) our and certain of our subsidiaries' ability to engage in sale and leaseback transactions. | text | 5.45 | percentItemType | text: <entity> 5.45 </entity> <entity type> percentItemType </entity type> <context> On February 20, 2024, we issued $ 2.25 billion aggregate principal amount of senior unsecured notes consisting of $ 500 million aggregate principal amount of 4.90 percent senior unsecured notes due in 2029, $ 750 million aggregate principal amount of 5.15 percent senior unsecured notes due in 2034 and $ 1.0 billion aggregate principal amount of 5.45 percent senior unsecured notes due in 2054. We received net proceeds of $ 2.2 billion. The senior unsecured notes pay interest semi-annually on February 20 and August 20, commencing on August 20, 2024. The indenture governing the senior unsecured notes contains covenants that, among other matters, limit (i) our ability to consolidate or merge into, or sell, assign, convey, lease, transfer or otherwise dispose of all or substantially all of our and our subsidiaries' assets to another person, (ii) our and certain of our subsidiaries' ability to create or assume liens and (iii) our and certain of our subsidiaries' ability to engage in sale and leaseback transactions. </context> | us-gaap:DebtInstrumentInterestRateStatedPercentage |
On February 20, 2024, we issued $ 2.25 billion aggregate principal amount of senior unsecured notes consisting of $ 500 million aggregate principal amount of 4.90 percent senior unsecured notes due in 2029, $ 750 million aggregate principal amount of 5.15 percent senior unsecured notes due in 2034 and $ 1.0 billion aggregate principal amount of 5.45 percent senior unsecured notes due in 2054. We received net proceeds of $ 2.2 billion. The senior unsecured notes pay interest semi-annually on February 20 and August 20, commencing on August 20, 2024. The indenture governing the senior unsecured notes contains covenants that, among other matters, limit (i) our ability to consolidate or merge into, or sell, assign, convey, lease, transfer or otherwise dispose of all or substantially all of our and our subsidiaries' assets to another person, (ii) our and certain of our subsidiaries' ability to create or assume liens and (iii) our and certain of our subsidiaries' ability to engage in sale and leaseback transactions. | text | 2.2 | monetaryItemType | text: <entity> 2.2 </entity> <entity type> monetaryItemType </entity type> <context> On February 20, 2024, we issued $ 2.25 billion aggregate principal amount of senior unsecured notes consisting of $ 500 million aggregate principal amount of 4.90 percent senior unsecured notes due in 2029, $ 750 million aggregate principal amount of 5.15 percent senior unsecured notes due in 2034 and $ 1.0 billion aggregate principal amount of 5.45 percent senior unsecured notes due in 2054. We received net proceeds of $ 2.2 billion. The senior unsecured notes pay interest semi-annually on February 20 and August 20, commencing on August 20, 2024. The indenture governing the senior unsecured notes contains covenants that, among other matters, limit (i) our ability to consolidate or merge into, or sell, assign, convey, lease, transfer or otherwise dispose of all or substantially all of our and our subsidiaries' assets to another person, (ii) our and certain of our subsidiaries' ability to create or assume liens and (iii) our and certain of our subsidiaries' ability to engage in sale and leaseback transactions. </context> | us-gaap:ProceedsFromIssuanceOfDebt |
The $ 250 million 7.125 percent debentures and $ 165 million 5.65 percent debentures are unsecured and are not subject to any sinking fund requirements. We can redeem these debentures at any time prior to maturity at the greater of par plus accrued interest or an amount designed to ensure that the debenture holders are not penalized by the early redemption. | text | 250 | monetaryItemType | text: <entity> 250 </entity> <entity type> monetaryItemType </entity type> <context> The $ 250 million 7.125 percent debentures and $ 165 million 5.65 percent debentures are unsecured and are not subject to any sinking fund requirements. We can redeem these debentures at any time prior to maturity at the greater of par plus accrued interest or an amount designed to ensure that the debenture holders are not penalized by the early redemption. </context> | us-gaap:UnsecuredDebt |
The $ 250 million 7.125 percent debentures and $ 165 million 5.65 percent debentures are unsecured and are not subject to any sinking fund requirements. We can redeem these debentures at any time prior to maturity at the greater of par plus accrued interest or an amount designed to ensure that the debenture holders are not penalized by the early redemption. | text | 7.125 | percentItemType | text: <entity> 7.125 </entity> <entity type> percentItemType </entity type> <context> The $ 250 million 7.125 percent debentures and $ 165 million 5.65 percent debentures are unsecured and are not subject to any sinking fund requirements. We can redeem these debentures at any time prior to maturity at the greater of par plus accrued interest or an amount designed to ensure that the debenture holders are not penalized by the early redemption. </context> | us-gaap:DebtInstrumentInterestRateStatedPercentage |
The $ 250 million 7.125 percent debentures and $ 165 million 5.65 percent debentures are unsecured and are not subject to any sinking fund requirements. We can redeem these debentures at any time prior to maturity at the greater of par plus accrued interest or an amount designed to ensure that the debenture holders are not penalized by the early redemption. | text | 165 | monetaryItemType | text: <entity> 165 </entity> <entity type> monetaryItemType </entity type> <context> The $ 250 million 7.125 percent debentures and $ 165 million 5.65 percent debentures are unsecured and are not subject to any sinking fund requirements. We can redeem these debentures at any time prior to maturity at the greater of par plus accrued interest or an amount designed to ensure that the debenture holders are not penalized by the early redemption. </context> | us-gaap:UnsecuredDebt |
The $ 250 million 7.125 percent debentures and $ 165 million 5.65 percent debentures are unsecured and are not subject to any sinking fund requirements. We can redeem these debentures at any time prior to maturity at the greater of par plus accrued interest or an amount designed to ensure that the debenture holders are not penalized by the early redemption. | text | 5.65 | percentItemType | text: <entity> 5.65 </entity> <entity type> percentItemType </entity type> <context> The $ 250 million 7.125 percent debentures and $ 165 million 5.65 percent debentures are unsecured and are not subject to any sinking fund requirements. We can redeem these debentures at any time prior to maturity at the greater of par plus accrued interest or an amount designed to ensure that the debenture holders are not penalized by the early redemption. </context> | us-gaap:DebtInstrumentInterestRateStatedPercentage |
For the years ended December 31, 2024, 2023 and 2022, total interest incurred was $ 387 million, $ 383 million and $ 204 million, respectively, and interest capitalized was $ 17 million, $ 8 million and $ 5 million, respectively. | text | 387 | monetaryItemType | text: <entity> 387 </entity> <entity type> monetaryItemType </entity type> <context> For the years ended December 31, 2024, 2023 and 2022, total interest incurred was $ 387 million, $ 383 million and $ 204 million, respectively, and interest capitalized was $ 17 million, $ 8 million and $ 5 million, respectively. </context> | us-gaap:InterestExpenseDebt |
For the years ended December 31, 2024, 2023 and 2022, total interest incurred was $ 387 million, $ 383 million and $ 204 million, respectively, and interest capitalized was $ 17 million, $ 8 million and $ 5 million, respectively. | text | 383 | monetaryItemType | text: <entity> 383 </entity> <entity type> monetaryItemType </entity type> <context> For the years ended December 31, 2024, 2023 and 2022, total interest incurred was $ 387 million, $ 383 million and $ 204 million, respectively, and interest capitalized was $ 17 million, $ 8 million and $ 5 million, respectively. </context> | us-gaap:InterestExpenseDebt |
For the years ended December 31, 2024, 2023 and 2022, total interest incurred was $ 387 million, $ 383 million and $ 204 million, respectively, and interest capitalized was $ 17 million, $ 8 million and $ 5 million, respectively. | text | 204 | monetaryItemType | text: <entity> 204 </entity> <entity type> monetaryItemType </entity type> <context> For the years ended December 31, 2024, 2023 and 2022, total interest incurred was $ 387 million, $ 383 million and $ 204 million, respectively, and interest capitalized was $ 17 million, $ 8 million and $ 5 million, respectively. </context> | us-gaap:InterestExpenseDebt |
For the years ended December 31, 2024, 2023 and 2022, total interest incurred was $ 387 million, $ 383 million and $ 204 million, respectively, and interest capitalized was $ 17 million, $ 8 million and $ 5 million, respectively. | text | 17 | monetaryItemType | text: <entity> 17 </entity> <entity type> monetaryItemType </entity type> <context> For the years ended December 31, 2024, 2023 and 2022, total interest incurred was $ 387 million, $ 383 million and $ 204 million, respectively, and interest capitalized was $ 17 million, $ 8 million and $ 5 million, respectively. </context> | us-gaap:InterestCostsCapitalized |
For the years ended December 31, 2024, 2023 and 2022, total interest incurred was $ 387 million, $ 383 million and $ 204 million, respectively, and interest capitalized was $ 17 million, $ 8 million and $ 5 million, respectively. | text | 8 | monetaryItemType | text: <entity> 8 </entity> <entity type> monetaryItemType </entity type> <context> For the years ended December 31, 2024, 2023 and 2022, total interest incurred was $ 387 million, $ 383 million and $ 204 million, respectively, and interest capitalized was $ 17 million, $ 8 million and $ 5 million, respectively. </context> | us-gaap:InterestCostsCapitalized |
For the years ended December 31, 2024, 2023 and 2022, total interest incurred was $ 387 million, $ 383 million and $ 204 million, respectively, and interest capitalized was $ 17 million, $ 8 million and $ 5 million, respectively. | text | 5 | monetaryItemType | text: <entity> 5 </entity> <entity type> monetaryItemType </entity type> <context> For the years ended December 31, 2024, 2023 and 2022, total interest incurred was $ 387 million, $ 383 million and $ 204 million, respectively, and interest capitalized was $ 17 million, $ 8 million and $ 5 million, respectively. </context> | us-gaap:InterestCostsCapitalized |
We recognized supplier recoveries of $ 54 million, $ 36 million and $ 39 million for the years ended December 31, 2024, 2023 and 2022, respectively. | text | 54 | monetaryItemType | text: <entity> 54 </entity> <entity type> monetaryItemType </entity type> <context> We recognized supplier recoveries of $ 54 million, $ 36 million and $ 39 million for the years ended December 31, 2024, 2023 and 2022, respectively. </context> | us-gaap:ProductLiabilityContingencyThirdPartyRecovery |
We recognized supplier recoveries of $ 54 million, $ 36 million and $ 39 million for the years ended December 31, 2024, 2023 and 2022, respectively. | text | 36 | monetaryItemType | text: <entity> 36 </entity> <entity type> monetaryItemType </entity type> <context> We recognized supplier recoveries of $ 54 million, $ 36 million and $ 39 million for the years ended December 31, 2024, 2023 and 2022, respectively. </context> | us-gaap:ProductLiabilityContingencyThirdPartyRecovery |
We recognized supplier recoveries of $ 54 million, $ 36 million and $ 39 million for the years ended December 31, 2024, 2023 and 2022, respectively. | text | 39 | monetaryItemType | text: <entity> 39 </entity> <entity type> monetaryItemType </entity type> <context> We recognized supplier recoveries of $ 54 million, $ 36 million and $ 39 million for the years ended December 31, 2024, 2023 and 2022, respectively. </context> | us-gaap:ProductLiabilityContingencyThirdPartyRecovery |
In December 2023, we announced that we reached the agreement in principle with EPA, CARB, the Environmental and Natural Resources Division of the DOJ and the California Attorney General's Office to resolve certain regulatory civil claims regarding our emissions certification and compliance process for certain engines primarily used in pick-up truck applications in the U.S., which became final and effective in April 2024, (collectively, the Settlement Agreements). As part of the Settlement Agreements, among other things, we agreed to pay civil penalties, complete recall requirements, undertake mitigation projects, provide extended warranties, undertake certain testing, take certain corporate compliance measures and make other payments. Failure to comply with the terms and conditions of the Settlement Agreements will subject us to further stipulated penalties. We recorded a charge of $ 2.0 billion in the fourth quarter of 2023, in other operating expense, net in our | text | 2.0 | monetaryItemType | text: <entity> 2.0 </entity> <entity type> monetaryItemType </entity type> <context> In December 2023, we announced that we reached the agreement in principle with EPA, CARB, the Environmental and Natural Resources Division of the DOJ and the California Attorney General's Office to resolve certain regulatory civil claims regarding our emissions certification and compliance process for certain engines primarily used in pick-up truck applications in the U.S., which became final and effective in April 2024, (collectively, the Settlement Agreements). As part of the Settlement Agreements, among other things, we agreed to pay civil penalties, complete recall requirements, undertake mitigation projects, provide extended warranties, undertake certain testing, take certain corporate compliance measures and make other payments. Failure to comply with the terms and conditions of the Settlement Agreements will subject us to further stipulated penalties. We recorded a charge of $ 2.0 billion in the fourth quarter of 2023, in other operating expense, net in our </context> | us-gaap:LossContingencyLossInPeriod |
to resolve the matters addressed by the Settlement Agreements involving approximately one million of our pick-up truck applications in the U.S. Of the $ 2.0 billion charge, $ 1.7 billion (primarily related to penalties) was non-deductible for U.S. federal income tax purposes. The remaining amount, related to emissions mitigation projects and payments, extended warranties and other related compliance expenses was deductible for U.S. federal income tax purposes. This charge was in addition to the previously announced charges of $ 59 million for the recalls of model years 2013 through 2018 RAM 2500 and 3500 trucks and model years 2016 through 2019 Titan trucks. We made $ 1.9 billion of payments required by the Settlement Agreements in the second quarter of 2024. Subsequent to the second quarter of 2024, we have recorded immaterial amounts related to stipulated penalties we determined to be probable and estimable. Any further non-compliance with the Settlement Agreements will likely subject us to further stipulated penalties and other adverse consequences. | text | 2.0 | monetaryItemType | text: <entity> 2.0 </entity> <entity type> monetaryItemType </entity type> <context> to resolve the matters addressed by the Settlement Agreements involving approximately one million of our pick-up truck applications in the U.S. Of the $ 2.0 billion charge, $ 1.7 billion (primarily related to penalties) was non-deductible for U.S. federal income tax purposes. The remaining amount, related to emissions mitigation projects and payments, extended warranties and other related compliance expenses was deductible for U.S. federal income tax purposes. This charge was in addition to the previously announced charges of $ 59 million for the recalls of model years 2013 through 2018 RAM 2500 and 3500 trucks and model years 2016 through 2019 Titan trucks. We made $ 1.9 billion of payments required by the Settlement Agreements in the second quarter of 2024. Subsequent to the second quarter of 2024, we have recorded immaterial amounts related to stipulated penalties we determined to be probable and estimable. Any further non-compliance with the Settlement Agreements will likely subject us to further stipulated penalties and other adverse consequences. </context> | us-gaap:LossContingencyLossInPeriod |
to resolve the matters addressed by the Settlement Agreements involving approximately one million of our pick-up truck applications in the U.S. Of the $ 2.0 billion charge, $ 1.7 billion (primarily related to penalties) was non-deductible for U.S. federal income tax purposes. The remaining amount, related to emissions mitigation projects and payments, extended warranties and other related compliance expenses was deductible for U.S. federal income tax purposes. This charge was in addition to the previously announced charges of $ 59 million for the recalls of model years 2013 through 2018 RAM 2500 and 3500 trucks and model years 2016 through 2019 Titan trucks. We made $ 1.9 billion of payments required by the Settlement Agreements in the second quarter of 2024. Subsequent to the second quarter of 2024, we have recorded immaterial amounts related to stipulated penalties we determined to be probable and estimable. Any further non-compliance with the Settlement Agreements will likely subject us to further stipulated penalties and other adverse consequences. | text | 1.7 | monetaryItemType | text: <entity> 1.7 </entity> <entity type> monetaryItemType </entity type> <context> to resolve the matters addressed by the Settlement Agreements involving approximately one million of our pick-up truck applications in the U.S. Of the $ 2.0 billion charge, $ 1.7 billion (primarily related to penalties) was non-deductible for U.S. federal income tax purposes. The remaining amount, related to emissions mitigation projects and payments, extended warranties and other related compliance expenses was deductible for U.S. federal income tax purposes. This charge was in addition to the previously announced charges of $ 59 million for the recalls of model years 2013 through 2018 RAM 2500 and 3500 trucks and model years 2016 through 2019 Titan trucks. We made $ 1.9 billion of payments required by the Settlement Agreements in the second quarter of 2024. Subsequent to the second quarter of 2024, we have recorded immaterial amounts related to stipulated penalties we determined to be probable and estimable. Any further non-compliance with the Settlement Agreements will likely subject us to further stipulated penalties and other adverse consequences. </context> | us-gaap:LossContingencyLossInPeriod |
to resolve the matters addressed by the Settlement Agreements involving approximately one million of our pick-up truck applications in the U.S. Of the $ 2.0 billion charge, $ 1.7 billion (primarily related to penalties) was non-deductible for U.S. federal income tax purposes. The remaining amount, related to emissions mitigation projects and payments, extended warranties and other related compliance expenses was deductible for U.S. federal income tax purposes. This charge was in addition to the previously announced charges of $ 59 million for the recalls of model years 2013 through 2018 RAM 2500 and 3500 trucks and model years 2016 through 2019 Titan trucks. We made $ 1.9 billion of payments required by the Settlement Agreements in the second quarter of 2024. Subsequent to the second quarter of 2024, we have recorded immaterial amounts related to stipulated penalties we determined to be probable and estimable. Any further non-compliance with the Settlement Agreements will likely subject us to further stipulated penalties and other adverse consequences. | text | 59 | monetaryItemType | text: <entity> 59 </entity> <entity type> monetaryItemType </entity type> <context> to resolve the matters addressed by the Settlement Agreements involving approximately one million of our pick-up truck applications in the U.S. Of the $ 2.0 billion charge, $ 1.7 billion (primarily related to penalties) was non-deductible for U.S. federal income tax purposes. The remaining amount, related to emissions mitigation projects and payments, extended warranties and other related compliance expenses was deductible for U.S. federal income tax purposes. This charge was in addition to the previously announced charges of $ 59 million for the recalls of model years 2013 through 2018 RAM 2500 and 3500 trucks and model years 2016 through 2019 Titan trucks. We made $ 1.9 billion of payments required by the Settlement Agreements in the second quarter of 2024. Subsequent to the second quarter of 2024, we have recorded immaterial amounts related to stipulated penalties we determined to be probable and estimable. Any further non-compliance with the Settlement Agreements will likely subject us to further stipulated penalties and other adverse consequences. </context> | us-gaap:ProductLiabilityAccrualPeriodExpense |
to resolve the matters addressed by the Settlement Agreements involving approximately one million of our pick-up truck applications in the U.S. Of the $ 2.0 billion charge, $ 1.7 billion (primarily related to penalties) was non-deductible for U.S. federal income tax purposes. The remaining amount, related to emissions mitigation projects and payments, extended warranties and other related compliance expenses was deductible for U.S. federal income tax purposes. This charge was in addition to the previously announced charges of $ 59 million for the recalls of model years 2013 through 2018 RAM 2500 and 3500 trucks and model years 2016 through 2019 Titan trucks. We made $ 1.9 billion of payments required by the Settlement Agreements in the second quarter of 2024. Subsequent to the second quarter of 2024, we have recorded immaterial amounts related to stipulated penalties we determined to be probable and estimable. Any further non-compliance with the Settlement Agreements will likely subject us to further stipulated penalties and other adverse consequences. | text | 1.9 | monetaryItemType | text: <entity> 1.9 </entity> <entity type> monetaryItemType </entity type> <context> to resolve the matters addressed by the Settlement Agreements involving approximately one million of our pick-up truck applications in the U.S. Of the $ 2.0 billion charge, $ 1.7 billion (primarily related to penalties) was non-deductible for U.S. federal income tax purposes. The remaining amount, related to emissions mitigation projects and payments, extended warranties and other related compliance expenses was deductible for U.S. federal income tax purposes. This charge was in addition to the previously announced charges of $ 59 million for the recalls of model years 2013 through 2018 RAM 2500 and 3500 trucks and model years 2016 through 2019 Titan trucks. We made $ 1.9 billion of payments required by the Settlement Agreements in the second quarter of 2024. Subsequent to the second quarter of 2024, we have recorded immaterial amounts related to stipulated penalties we determined to be probable and estimable. Any further non-compliance with the Settlement Agreements will likely subject us to further stipulated penalties and other adverse consequences. </context> | us-gaap:LossContingencyAccrualPayments |
Periodically, we enter into guarantee arrangements, including guarantees of non-U.S. distributor financings, residual value guarantees on equipment under operating leases and other miscellaneous guarantees of joint ventures or third-party obligations. At December 31, 2024, the maximum potential loss related to these guarantees was $ 41 million. | text | 41 | monetaryItemType | text: <entity> 41 </entity> <entity type> monetaryItemType </entity type> <context> Periodically, we enter into guarantee arrangements, including guarantees of non-U.S. distributor financings, residual value guarantees on equipment under operating leases and other miscellaneous guarantees of joint ventures or third-party obligations. At December 31, 2024, the maximum potential loss related to these guarantees was $ 41 million. </context> | us-gaap:GuaranteeObligationsMaximumExposure |
We have arrangements with certain suppliers that require us to purchase minimum volumes or be subject to monetary penalties. At December 31, 2024, if we were to stop purchasing from each of these suppliers, the aggregate amount of the penalty would be approximately $ 533 million. These arrangements enable us to secure supplies of critical components and IT services. We do not currently anticipate paying any penalties under these contracts. | text | 533 | monetaryItemType | text: <entity> 533 </entity> <entity type> monetaryItemType </entity type> <context> We have arrangements with certain suppliers that require us to purchase minimum volumes or be subject to monetary penalties. At December 31, 2024, if we were to stop purchasing from each of these suppliers, the aggregate amount of the penalty would be approximately $ 533 million. These arrangements enable us to secure supplies of critical components and IT services. We do not currently anticipate paying any penalties under these contracts. </context> | us-gaap:UnrecordedUnconditionalPurchaseObligationBalanceSheetAmount |
We enter into physical forward contracts with suppliers of platinum, palladium and iridium to purchase certain volumes of the commodities at contractually stated prices for various periods, which generally fall within two years . At December 31, 2024, the total commitments under these contracts were $ 69 million. These arrangements enable us to guarantee the prices of these commodities, which otherwise are subject to market volatility. | text | 69 | monetaryItemType | text: <entity> 69 </entity> <entity type> monetaryItemType </entity type> <context> We enter into physical forward contracts with suppliers of platinum, palladium and iridium to purchase certain volumes of the commodities at contractually stated prices for various periods, which generally fall within two years . At December 31, 2024, the total commitments under these contracts were $ 69 million. These arrangements enable us to guarantee the prices of these commodities, which otherwise are subject to market volatility. </context> | us-gaap:PurchaseObligation |
We have guarantees with certain customers that require us to satisfactorily honor contractual or regulatory obligations, or compensate for monetary losses related to nonperformance. These performance bonds and other performance-related guarantees were $ 241 million at December 31, 2024. | text | 241 | monetaryItemType | text: <entity> 241 </entity> <entity type> monetaryItemType </entity type> <context> We have guarantees with certain customers that require us to satisfactorily honor contractual or regulatory obligations, or compensate for monetary losses related to nonperformance. These performance bonds and other performance-related guarantees were $ 241 million at December 31, 2024. </context> | us-gaap:GuaranteeObligationsCurrentCarryingValue |
We are authorized to issue one million shares of zero par value preferred and one million shares of preference stock with preferred shares being senior to preference shares. We can determine the number of shares of each series, and the rights, preferences and limitations of each series. At December 31, 2024 and 2023, there was no preferred or preference stock outstanding. | text | one | sharesItemType | text: <entity> one </entity> <entity type> sharesItemType </entity type> <context> We are authorized to issue one million shares of zero par value preferred and one million shares of preference stock with preferred shares being senior to preference shares. We can determine the number of shares of each series, and the rights, preferences and limitations of each series. At December 31, 2024 and 2023, there was no preferred or preference stock outstanding. </context> | us-gaap:PreferredStockSharesAuthorized |
In December 2021, the Board authorized the acquisition of up to $ 2.0 billion of additional common stock upon completion of the $ 2.0 billion repurchase plan authorized in 2019. The dollar value remaining available for future purchases under the 2019 program at December 31, 2024, was $ 218 million. | text | 218 | monetaryItemType | text: <entity> 218 </entity> <entity type> monetaryItemType </entity type> <context> In December 2021, the Board authorized the acquisition of up to $ 2.0 billion of additional common stock upon completion of the $ 2.0 billion repurchase plan authorized in 2019. The dollar value remaining available for future purchases under the 2019 program at December 31, 2024, was $ 218 million. </context> | us-gaap:StockRepurchaseProgramRemainingAuthorizedRepurchaseAmount1 |
On March 18, 2024, we completed the divestiture of our remaining 80.5 percent ownership of Atmus Filtration Technologies Inc. (Atmus) common stock through a tax-free split-off. The exchange resulted in a reduction of shares of our common stock outstanding by 5.6 million shares. See NOTE 21, "ATMUS INITIAL PUBLIC OFFERING (IPO) AND DIVESTITURE," for additional information. | text | 80.5 | percentItemType | text: <entity> 80.5 </entity> <entity type> percentItemType </entity type> <context> On March 18, 2024, we completed the divestiture of our remaining 80.5 percent ownership of Atmus Filtration Technologies Inc. (Atmus) common stock through a tax-free split-off. The exchange resulted in a reduction of shares of our common stock outstanding by 5.6 million shares. See NOTE 21, "ATMUS INITIAL PUBLIC OFFERING (IPO) AND DIVESTITURE," for additional information. </context> | us-gaap:MinorityInterestOwnershipPercentageByParent |
On March 18, 2024, we completed the divestiture of our remaining 80.5 percent ownership of Atmus Filtration Technologies Inc. (Atmus) common stock through a tax-free split-off. The exchange resulted in a reduction of shares of our common stock outstanding by 5.6 million shares. See NOTE 21, "ATMUS INITIAL PUBLIC OFFERING (IPO) AND DIVESTITURE," for additional information. | text | 5.6 | sharesItemType | text: <entity> 5.6 </entity> <entity type> sharesItemType </entity type> <context> On March 18, 2024, we completed the divestiture of our remaining 80.5 percent ownership of Atmus Filtration Technologies Inc. (Atmus) common stock through a tax-free split-off. The exchange resulted in a reduction of shares of our common stock outstanding by 5.6 million shares. See NOTE 21, "ATMUS INITIAL PUBLIC OFFERING (IPO) AND DIVESTITURE," for additional information. </context> | us-gaap:SaleOfStockNumberOfSharesIssuedInTransaction |
We did not make any repurchases of common stock during 2024 or 2023. We repurchased $ 374 million of our common stock in the year ended December 31, 2022. | text | 374 | monetaryItemType | text: <entity> 374 </entity> <entity type> monetaryItemType </entity type> <context> We did not make any repurchases of common stock during 2024 or 2023. We repurchased $ 374 million of our common stock in the year ended December 31, 2022. </context> | us-gaap:PaymentsForRepurchaseOfCommonStock |
Total dividends paid to common shareholders in 2024, 2023 and 2022 were $ 969 million, $ 921 million and $ 855 million, respectively. Declaration and payment of dividends in the future depends upon our income and liquidity position, among other factors, and is subject to declaration by the Board, who meets quarterly to consider our dividend payment. We expect to fund dividend payments with cash from operations. | text | 969 | monetaryItemType | text: <entity> 969 </entity> <entity type> monetaryItemType </entity type> <context> Total dividends paid to common shareholders in 2024, 2023 and 2022 were $ 969 million, $ 921 million and $ 855 million, respectively. Declaration and payment of dividends in the future depends upon our income and liquidity position, among other factors, and is subject to declaration by the Board, who meets quarterly to consider our dividend payment. We expect to fund dividend payments with cash from operations. </context> | us-gaap:PaymentsOfDividends |
Total dividends paid to common shareholders in 2024, 2023 and 2022 were $ 969 million, $ 921 million and $ 855 million, respectively. Declaration and payment of dividends in the future depends upon our income and liquidity position, among other factors, and is subject to declaration by the Board, who meets quarterly to consider our dividend payment. We expect to fund dividend payments with cash from operations. | text | 921 | monetaryItemType | text: <entity> 921 </entity> <entity type> monetaryItemType </entity type> <context> Total dividends paid to common shareholders in 2024, 2023 and 2022 were $ 969 million, $ 921 million and $ 855 million, respectively. Declaration and payment of dividends in the future depends upon our income and liquidity position, among other factors, and is subject to declaration by the Board, who meets quarterly to consider our dividend payment. We expect to fund dividend payments with cash from operations. </context> | us-gaap:PaymentsOfDividends |
Total dividends paid to common shareholders in 2024, 2023 and 2022 were $ 969 million, $ 921 million and $ 855 million, respectively. Declaration and payment of dividends in the future depends upon our income and liquidity position, among other factors, and is subject to declaration by the Board, who meets quarterly to consider our dividend payment. We expect to fund dividend payments with cash from operations. | text | 855 | monetaryItemType | text: <entity> 855 </entity> <entity type> monetaryItemType </entity type> <context> Total dividends paid to common shareholders in 2024, 2023 and 2022 were $ 969 million, $ 921 million and $ 855 million, respectively. Declaration and payment of dividends in the future depends upon our income and liquidity position, among other factors, and is subject to declaration by the Board, who meets quarterly to consider our dividend payment. We expect to fund dividend payments with cash from operations. </context> | us-gaap:PaymentsOfDividends |
In July 2024, the Board authorized an increase to our quarterly dividend of 8.3 percent from $ 1.68 per share to $ 1.82 per share. In July 2023, the Board authorized a 7.0 percent increase to our quarterly cash dividend on our common stock from $ 1.57 per share to $ 1.68 per share. In July 2022, the Board approved an 8.3 percent increase to our quarterly dividend on our common stock from $ 1.45 per share to $ 1.57 per share. Cash dividends per share paid to common shareholders for the last three years were as follows: | text | 1.68 | perShareItemType | text: <entity> 1.68 </entity> <entity type> perShareItemType </entity type> <context> In July 2024, the Board authorized an increase to our quarterly dividend of 8.3 percent from $ 1.68 per share to $ 1.82 per share. In July 2023, the Board authorized a 7.0 percent increase to our quarterly cash dividend on our common stock from $ 1.57 per share to $ 1.68 per share. In July 2022, the Board approved an 8.3 percent increase to our quarterly dividend on our common stock from $ 1.45 per share to $ 1.57 per share. Cash dividends per share paid to common shareholders for the last three years were as follows: </context> | us-gaap:CommonStockDividendsPerShareCashPaid |
In July 2024, the Board authorized an increase to our quarterly dividend of 8.3 percent from $ 1.68 per share to $ 1.82 per share. In July 2023, the Board authorized a 7.0 percent increase to our quarterly cash dividend on our common stock from $ 1.57 per share to $ 1.68 per share. In July 2022, the Board approved an 8.3 percent increase to our quarterly dividend on our common stock from $ 1.45 per share to $ 1.57 per share. Cash dividends per share paid to common shareholders for the last three years were as follows: | text | 1.82 | perShareItemType | text: <entity> 1.82 </entity> <entity type> perShareItemType </entity type> <context> In July 2024, the Board authorized an increase to our quarterly dividend of 8.3 percent from $ 1.68 per share to $ 1.82 per share. In July 2023, the Board authorized a 7.0 percent increase to our quarterly cash dividend on our common stock from $ 1.57 per share to $ 1.68 per share. In July 2022, the Board approved an 8.3 percent increase to our quarterly dividend on our common stock from $ 1.45 per share to $ 1.57 per share. Cash dividends per share paid to common shareholders for the last three years were as follows: </context> | us-gaap:CommonStockDividendsPerShareCashPaid |
In July 2024, the Board authorized an increase to our quarterly dividend of 8.3 percent from $ 1.68 per share to $ 1.82 per share. In July 2023, the Board authorized a 7.0 percent increase to our quarterly cash dividend on our common stock from $ 1.57 per share to $ 1.68 per share. In July 2022, the Board approved an 8.3 percent increase to our quarterly dividend on our common stock from $ 1.45 per share to $ 1.57 per share. Cash dividends per share paid to common shareholders for the last three years were as follows: | text | 1.57 | perShareItemType | text: <entity> 1.57 </entity> <entity type> perShareItemType </entity type> <context> In July 2024, the Board authorized an increase to our quarterly dividend of 8.3 percent from $ 1.68 per share to $ 1.82 per share. In July 2023, the Board authorized a 7.0 percent increase to our quarterly cash dividend on our common stock from $ 1.57 per share to $ 1.68 per share. In July 2022, the Board approved an 8.3 percent increase to our quarterly dividend on our common stock from $ 1.45 per share to $ 1.57 per share. Cash dividends per share paid to common shareholders for the last three years were as follows: </context> | us-gaap:CommonStockDividendsPerShareCashPaid |
In July 2024, the Board authorized an increase to our quarterly dividend of 8.3 percent from $ 1.68 per share to $ 1.82 per share. In July 2023, the Board authorized a 7.0 percent increase to our quarterly cash dividend on our common stock from $ 1.57 per share to $ 1.68 per share. In July 2022, the Board approved an 8.3 percent increase to our quarterly dividend on our common stock from $ 1.45 per share to $ 1.57 per share. Cash dividends per share paid to common shareholders for the last three years were as follows: | text | 1.45 | perShareItemType | text: <entity> 1.45 </entity> <entity type> perShareItemType </entity type> <context> In July 2024, the Board authorized an increase to our quarterly dividend of 8.3 percent from $ 1.68 per share to $ 1.82 per share. In July 2023, the Board authorized a 7.0 percent increase to our quarterly cash dividend on our common stock from $ 1.57 per share to $ 1.68 per share. In July 2022, the Board approved an 8.3 percent increase to our quarterly dividend on our common stock from $ 1.45 per share to $ 1.57 per share. Cash dividends per share paid to common shareholders for the last three years were as follows: </context> | us-gaap:CommonStockDividendsPerShareCashPaid |
Our stock incentive plan (the Plan) allows for granting of up to 8.5 million total shares of equity awards to executives, employees and non-employee directors. Awards available for grant under the Plan include, but are not limited to, stock options, stock appreciation rights, performance shares and other stock awards. Shares issued under the Plan may be newly issued shares or reissued treasury shares. | text | 8.5 | sharesItemType | text: <entity> 8.5 </entity> <entity type> sharesItemType </entity type> <context> Our stock incentive plan (the Plan) allows for granting of up to 8.5 million total shares of equity awards to executives, employees and non-employee directors. Awards available for grant under the Plan include, but are not limited to, stock options, stock appreciation rights, performance shares and other stock awards. Shares issued under the Plan may be newly issued shares or reissued treasury shares. </context> | us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized |
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