v3.23.3
DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES - EFFECT OF DERIVATIVE INSTRUMENTS (Details) - USD ($)
$ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2023
Sep. 30, 2022
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 $ 20 $ (4) $ (41) $ (110)
Cost of goods sold        
Derivative Instruments, Gain (Loss)        
Gain (loss) recognized in income on derivative instruments 69 362 848 257
Interest expense        
Derivative Instruments, Gain (Loss)        
Gain (loss) recognized in income on derivative instruments (35) (8) (97) (11)
Foreign exchange (losses) gains        
Derivative Instruments, Gain (Loss)        
Gain (loss) recognized in income on derivative instruments 5 16 (22) 95
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 1 (2) 1 0
Foreign currency | Cash flow hedges        
Derivative Instruments, Gain (Loss)        
Gains and losses on derivatives used as cash flow hedges of foreign currency risk included in Other comprehensive income (loss) during the period 10 38 (21) 72
Cash flow hedge of foreign currency risk (1) (18) (1) (25)
Hedge accounting | Foreign currency | Net sales        
Derivative Instruments, Gain (Loss)        
Gain (loss) on hedge accounting 2 0 6 7
Hedge accounting | Foreign currency | Cost of goods sold        
Derivative Instruments, Gain (Loss)        
Gain (loss) on hedge accounting 1 3 1 3
Hedge accounting | Foreign currency | Selling, general & administrative        
Derivative Instruments, Gain (Loss)        
Gain (loss) on hedge accounting 0 (1) 1 (1)
Hedge accounting | Foreign currency | Foreign exchange (losses) gains        
Derivative Instruments, Gain (Loss)        
Gain (loss) on hedge accounting (5) 2 (26) (35)
Hedge accounting | Interest rate | Interest expense        
Derivative Instruments, Gain (Loss)        
Gain (loss) on hedge accounting (35) (8) (103) (12)
Economic hedges | Foreign currency | Cost of goods sold        
Derivative Instruments, Gain (Loss)        
Gain (loss) on economic hedges (41) 59 367 482
Economic hedges | Foreign currency | Foreign exchange (losses) gains        
Derivative Instruments, Gain (Loss)        
Gain (loss) on economic hedges 10 14 4 130
Economic hedges | Commodities | Cost of goods sold        
Derivative Instruments, Gain (Loss)        
Gain (loss) on economic hedges 30 303 394 (318)
Economic hedges | Other | Cost of goods sold        
Derivative Instruments, Gain (Loss)        
Gain (loss) on economic hedges 79 (3) 86 90
Economic hedges | Interest rate | Interest expense        
Derivative Instruments, Gain (Loss)        
Gain (loss) on economic hedges     6 1
Economic hedges | Interest rate | Other Income (Expense) - Net        
Derivative Instruments, Gain (Loss)        
Gain (loss) on economic hedges $ (1) $ 1 $ 1 $ 2