Table of Contents The location and fair value of derivative instruments reported in Statement 3 are as follows:  The total notional amounts of the derivative instruments are as follows: The notional amounts of the derivative financial instruments do not represent amounts exchanged by the parties. The amounts exchanged by the parties are calculated by reference to the notional amounts and by other terms of the derivatives, such as foreign currency exchange rates, interest rates or commodity prices. 86 Years ended December 31, (Millions of dollars) 2019 2018 Machinery, Energy & Transportation $ 2,563 $ 1,834 Financial Products $ 8,931 $ 10,210 Consolidated  Statement of Financial Position Location Asset (Liability) Fair Value (Millions of dollars) Years ended December 31, 2019 2018 Designated derivatives Foreign exchange contracts Machinery, Energy & Transportation Receivables — trade and other $ 18 $ 16 Machinery, Energy & Transportation Long-term receivables — trade and other 9 — Machinery, Energy & Transportation Accrued expenses (20) (26) Machinery, Energy & Transportation Other liabilities — (9) Financial Products Receivables — trade and other 54 53 Financial Products Long-term receivables — trade and other 13 35 Financial Products Accrued expenses (3) (9) Interest rate contracts Financial Products Receivables — trade and other — 1 Financial Products Long-term receivables — trade and other 5 3 Financial Products Accrued expenses (25) (40) $ 51 $ 24 Undesignated derivatives Foreign exchange contracts Machinery, Energy & Transportation Receivables — trade and other $ 1 $ 2 Machinery, Energy & Transportation Accrued expenses — (21) Financial Products Receivables — trade and other 7 15 Financial Products Long-term receivables — trade and other 5 5 Financial Products Accrued expenses (22) (14) Commodity contracts Machinery, Energy & Transportation Receivables — trade and other 4 1 Machinery, Energy & Transportation Accrued expenses (1) (31) $ (6) $ (43)