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FINANCIAL INSTRUMENTS (Tables)
 9 Months Ended
Sep. 30, 2025
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of Estimated Fair Value of Assets and Liabilities The following table provides information about assets and liabilities not carried at fair value and excludes finance leases, equity securities without readily determinable fair value and non-financial assets and liabilities. Substantially all of these assets are considered Level 3 and substantially all these liabilities’ fair value are considered Level 2.
September 30, 2025December 31, 2024
Carrying
amount
(net)		Estimated
fair value		Carrying
amount
(net)		Estimated
fair value
AssetsLoans and other receivables(a)$2,186 $2,142 $2,261 $1,981 
LiabilitiesBorrowings (Note 10)20,838 20,873 19,273 18,805 
Investment contracts(a)1,171 1,240 1,375 1,432 
(a) Primarily related to our run-off insurance operations. See Note 12 for further information.
Schedule of Fair Value of Derivative Assets
FAIR VALUE OF DERIVATIVESSeptember 30, 2025December 31, 2024
Gross NotionalFair Value - AssetsFair Value - LiabilitiesGross NotionalFair Value - AssetsFair Value - Liabilities
Qualifying currency exchange contracts$1,170 $54 $— $1,873 $36 $40 
Qualifying cross currency interest rate swaps(a)3,533 — 119 416 8 — 
Non-qualifying currency exchange contracts and other(b)4,554 161 39 6,759 199 91 
Gross derivatives$9,257 $215 $159 $9,047 $243 $131 
Netting and credit adjustments$(64)$(64)$(55)$(54)
Net derivatives recognized in statement of financial position$152 $95 $188 $77 
(a) The fair values for cross-currency interest rate swaps are components of All other assets and All other Liabilities. All other derivatives included in the table are components of All other current assets and All other current liabilities in the Statement of Financial Position.
(b) Gains (losses) included in our Statement of Operations were $(22) million and $175 million for the three months ended September 30, 2025 and 2024, and $194 million and $237 million for nine months ended September 30, 2025 and 2024, respectively, primarily in SG&A, driven by hedges of foreign currency exchange and deferred employee compensation. Substantially all of these amounts are offset by the remeasurement of the underlying exposure through income.
Schedule of Fair Value of Derivative Liabilities
FAIR VALUE OF DERIVATIVESSeptember 30, 2025December 31, 2024
Gross NotionalFair Value - AssetsFair Value - LiabilitiesGross NotionalFair Value - AssetsFair Value - Liabilities
Qualifying currency exchange contracts$1,170 $54 $— $1,873 $36 $40 
Qualifying cross currency interest rate swaps(a)3,533 — 119 416 8 — 
Non-qualifying currency exchange contracts and other(b)4,554 161 39 6,759 199 91 
Gross derivatives$9,257 $215 $159 $9,047 $243 $131 
Netting and credit adjustments$(64)$(64)$(55)$(54)
Net derivatives recognized in statement of financial position$152 $95 $188 $77 
(a) The fair values for cross-currency interest rate swaps are components of All other assets and All other Liabilities. All other derivatives included in the table are components of All other current assets and All other current liabilities in the Statement of Financial Position.
(b) Gains (losses) included in our Statement of Operations were $(22) million and $175 million for the three months ended September 30, 2025 and 2024, and $194 million and $237 million for nine months ended September 30, 2025 and 2024, respectively, primarily in SG&A, driven by hedges of foreign currency exchange and deferred employee compensation. Substantially all of these amounts are offset by the remeasurement of the underlying exposure through income.
Schedule of Effects of Derivatives on AOCI
CASH FLOW HEDGES AND NET INVESTMENT HEDGES

Amount of Gain (Loss) Recognized in Other Comprehensive Income (Loss) on DerivativesAmount of Gain (Loss) Reclassified from AOCI into Net Income
Three months ended September 30Nine months ended September 30Three months ended September 30Nine months ended September 30
20252024202520242025202420252024
Cash flow hedges(a)$(27)$17 $82 $(4)$29 $2 $33 $14 
Net investment hedges(68)(258)(760)(108)— — — — 
(a) Primarily currency exchange contracts, and recognized in SG&A and Costs of equipment or services sold in our Statement of Operations.