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Derivative Financial Instruments (Tables) | 3 Months Ended
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Mar. 31, 2025
Derivative Instruments and Hedging Activities Disclosure [Abstract] |
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value | The notional amounts and fair values of derivative instruments in the Condensed Consolidated Statements of Financial Position were as follows:
| Notional amounts (1) | Other assets | Accrued liabilities
| March 31 2025 | December 31 2024 | March 31 2025 | December 31 2024 | March 31 2025 | December 31 2024
Derivatives designated as hedging instruments: |  |  |  |  |  |
Foreign exchange contracts | $5,123 |  | $5,139 |  | $51 |  | $23 |  | ($129) |  | ($213) |
Commodity contracts | 361 |  | 388 |  | 61 |  | 65 |  | (12) |  | (12) |
Derivatives not receiving hedge accounting treatment: |  |  |  |  |  |
Foreign exchange contracts | 121 |  | 103 |  | 1 |  | 1 |  | (12) |  | (17) |
Commodity contracts | 104 |  | 129 |  |  |  |  |  |
Total derivatives | $5,709 |  | $5,759 |  | $113 |  | $89 |  | ($153) |  | ($242) |
Netting arrangements |  |  | (33) |  | (24) |  | 33 |  | 24 |
Net recorded balance |  |  | $80 |  | $65 |  | ($120) |  | ($218) |
(1)Notional amounts represent the gross contract/notional amount of the derivatives outstanding.
Schedule of Derivative Instruments, Gains/(Losses) in Statement of Financial Performance | Gains/(losses) associated with our hedging transactions and forward points recognized in Other comprehensive income/(loss) are presented in the following table:
| Three months ended March 31
| 2025 |  | 2024
Recognized in Other comprehensive income/(loss), net of taxes: |  |  |
Foreign exchange contracts | $67 |  |  | ($57) |
Commodity contracts | 1 |  |  | (8) |
Reclassification Out of Accumulated Other Comprehensive Income | (Losses)/gains associated with our hedging transactions and forward points reclassified from AOCI to earnings are presented in the following table:
| Three months ended March 31
| 2025 |  | 2024
Foreign exchange contracts |  |  |
Costs and expenses | ($4) |  |  | ($7) |
General and administrative expense | (10) |  |  | (4) |
Commodity contracts |  |  |
Costs and expenses | ($11) |  |  |
General and administrative expense | 2 |  |  | $2 |

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- Definition Tabular disclosure of the location and amount of derivative instruments and nonderivative instruments designated as hedging instruments reported before netting adjustments, and the amount of gain (loss) on derivative instruments and nonderivative instruments designated and qualified as hedging instruments. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 815 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 4E -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-4E Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4C -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-4C Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4A -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-4A + Details
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