v3.22.1
DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES - EFFECT OF DERIVATIVE INSTRUMENTS (Details) - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Net investment hedges    
Derivative Instruments, Gain (Loss)    
Gains and losses on derivatives used as fair value hedges of foreign currency risk / net investment hedges included in other comprehensive income (loss) during the period $ (149) $ 38
Cost of goods sold    
Derivative Instruments, Gain (Loss)    
Gain (loss) recognized in income on derivative instruments (682) (754)
Interest expense    
Derivative Instruments, Gain (Loss)    
Gain (loss) recognized in income on derivative instruments (6) 7
Foreign exchange gains (losses)    
Derivative Instruments, Gain (Loss)    
Gain (loss) recognized in income on derivative instruments 47 69
Foreign currency | Fair value hedges    
Derivative Instruments, Gain (Loss)    
Gains and losses on derivatives used as fair value hedges of foreign currency risk / net investment hedges included in other comprehensive income (loss) during the period 0 1
Foreign currency | Cash flow hedges    
Derivative Instruments, Gain (Loss)    
Gains and losses on derivative instruments used as cash flow hedges included in other comprehensive income (loss) during the period 32 (41)
Amounts released from accumulated other comprehensive income (loss) during the period - Cash flow hedge of foreign currency risk (2) (1)
Hedge accounting | Foreign currency | Net sales    
Derivative Instruments, Gain (Loss)    
Gain (loss) on hedge accounting 2 0
Hedge accounting | Foreign currency | Foreign exchange gains (losses)    
Derivative Instruments, Gain (Loss)    
Gain (loss) on hedge accounting (12) (18)
Hedge accounting | Interest rate | Interest expense    
Derivative Instruments, Gain (Loss)    
Gain (loss) on hedge accounting (6) 6
Economic hedges | Foreign currency | Cost of goods sold    
Derivative Instruments, Gain (Loss)    
Gain (loss) on economic hedges 493 (285)
Economic hedges | Foreign currency | Foreign exchange gains (losses)    
Derivative Instruments, Gain (Loss)    
Gain (loss) on economic hedges 59 87
Economic hedges | Commodities | Cost of goods sold    
Derivative Instruments, Gain (Loss)    
Gain (loss) on economic hedges (1,255) (597)
Economic hedges | Other | Cost of goods sold    
Derivative Instruments, Gain (Loss)    
Gain (loss) on economic hedges 80 128
Economic hedges | Interest rate | Foreign exchange gains (losses)    
Derivative Instruments, Gain (Loss)    
Gain (loss) on economic hedges $ 0 $ 1