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Derivative Financial Instruments (Tables) | 6 Months Ended
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Jun. 30, 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
| June 30 2025 | December 31 2024 | June 30 2025 | December 31 2024 | June 30 2025 | December 31 2024
Derivatives designated as hedging instruments: |  |  |  |  |  |
Foreign exchange contracts | $4,797 |  | $5,139 |  | $153 |  | $23 |  | ($48) |  | ($213) |
Commodity contracts | 478 |  | 388 |  | 61 |  | 65 |  | (8) |  | (12) |
Derivatives not receiving hedge accounting treatment: |  |  |  |  |  |
Foreign exchange contracts | 225 |  | 103 |  | 8 |  | 1 |  | (9) |  | (17) |
Commodity contracts | 61 |  | 129 |  |  |  |  |  |
Total derivatives | $5,561 |  | $5,759 |  | $222 |  | $89 |  | ($65) |  | ($242) |
Netting arrangements |  |  | (39) |  | (24) |  | 39 |  | 24 |
Net recorded balance |  |  | $183 |  | $65 |  | ($26) |  | ($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), net of tax are presented in the following table:
| Six months ended June 30 |  | Three months ended June 30
| 2025 |  | 2024 |  | 2025 |  | 2024
Recognized in Other comprehensive income/(loss), net of tax: |  |  |  |  |  |  |
Foreign exchange contracts | $201 |  |  | ($75) |  |  | $134 |  |  | ($18) |
Commodity contracts | 5 |  |  | (1) |  |  | 4 |  |  | 7 |
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:
| Six months ended June 30 |  | Three months ended June 30
| 2025 |  | 2024 |  | 2025 |  | 2024
Foreign exchange contracts |  |  |  |  |  |  |
Costs and expenses | ($12) |  |  | ($12) |  |  | ($8) |  |  | ($5) |
General and administrative expense | (9) |  |  | (13) |  |  | 1 |  |  | (9) |
Commodity contracts |  |  |  |  |  |  |
Costs and expenses | ($18) |  |  | ($12) |  |  | ($7) |  |  | ($12) |
General and administrative expense | 3 |  |  | 3 |  |  | 1 |  |  | 1 |

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