XML 41 R30.htm IDEA: XBRL DOCUMENT
v3.21.2

Financial Instruments, Derivatives and Fair Value Measures (Tables) | 6 Months Ended
--- | ---
Jun. 30, 2021
Financial Instruments, Derivatives and Fair Value Measures |
Summary of the amounts and location of certain derivative financial instruments | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Fair Value - Assets | ​ | Fair Value - Liabilities
​ | ​ | June 30, | ​ | Dec. 31, | ​ | ​ | ​ | June 30, | ​ | Dec. 31, |  | ​
(in millions) |  | 2021 |  | 2020 |  | Balance Sheet Caption |  | 2021 |  | 2020 |  | Balance Sheet Caption
Interest rate swaps designated as fair value hedges | ​ | $ | 143 |  | $ | 210 |  | Deferred income taxes and other assets |  | $ | — |  | $ | — |  | Post-employment obligations, deferred income taxes and other long-term liabilities
Foreign currency forward exchange contracts: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Hedging instruments | ​ |  | 98 | ​ |  | 30 |  | Prepaid expenses and other receivables | ​ |  | 151 | ​ |  | 433 |  | Other accrued liabilities
Others not designated as hedges | ​ |  | 43 | ​ |  | 60 |  | Prepaid expenses and other receivables | ​ |  | 67 | ​ |  | 65 |  | Other accrued liabilities
Debt designated as a hedge of net investment in a foreign subsidiary | ​ | ​ | — | ​ | ​ | — | ​ | n/a | ​ | ​ | 540 | ​ | ​ | 577 | ​ | Long-term debt
​ | ​ | $ | 284 |  | $ | 300 | ​ | ​ |  | $ | 758 |  | $ | 1,075 | ​ | ​
Schedule of derivatives gain (loss) in OCI and earnings | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Gain (loss) Recognized in Other | ​ | Income (expense) and Gain (loss) | ​ | ​
​ | ​ | Comprehensive Income (loss) | ​ | Reclassified into Income | ​ | ​
​ | ​ | Three Months | ​ | Six Months | ​ | Three Months | ​ | Six Months | ​ | ​
​ | ​ | Ended June 30 | ​ | Ended June 30 | ​ | Ended June 30 | ​ | Ended June 30 | ​ | ​
(in millions) |  | 2021 |  | 2020 |  | 2021 |  | 2020 |  | 2021 |  | 2020 |  | 2021 |  | 2020 |  | Income Statement Caption
Foreign currency forward exchange contracts designated as cash flow hedges | ​ | $ | (88) | ​ | $ | (89) | ​ | $ | 46 | ​ | $ | 138 | ​ | $ | (92) | ​ | $ | 31 | ​ | $ | (115) | ​ | $ | 42 | ​ | Cost of products sold
Debt designated as a hedge of net investment in a foreign subsidiary | ​ |  | 2 | ​ |  | (2) | ​ |  | 37 | ​ |  | (10) | ​ |  | — | ​ |  | — | ​ |  | — | ​ |  | — |  | n/a
Interest rate swaps designated as fair value hedges | ​ |  | n/a | ​ |  | n/a | ​ |  | n/a | ​ |  | n/a | ​ |  | 2 | ​ |  | 27 | ​ |  | (67) | ​ |  | 195 |  | Interest expense
Schedule of carrying values and fair values of certain financial instruments | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | June 30, 2021 | ​ | December 31, 2020
​ |  | Carrying |  | Fair |  | Carrying |  | Fair
(in millions) | ​ | Value | ​ | Value | ​ | Value | ​ | Value
Long-term Investment Securities: | ​ | ​ | ​ |  | ​ | ​ | ​ | ​ | ​ |  | ​ | ​
Equity securities | ​ | $ | 754 | ​ | $ | 754 | ​ | $ | 776 | ​ | $ | 776
Other | ​ |  | 51 | ​ |  | 51 | ​ |  | 45 | ​ |  | 45
Total Long-term Debt | ​ | ​ | (18,302) | ​ | ​ | (21,592) | ​ | ​ | (18,534) | ​ | ​ | (22,809)
Foreign Currency Forward Exchange Contracts: | ​ |  | ​ | ​ |  | ​ | ​ |  | ​ | ​ | ​ | ​
Receivable position | ​ |  | 141 | ​ |  | 141 | ​ |  | 90 | ​ |  | 90
(Payable) position | ​ | ​ | (218) | ​ | ​ | (218) | ​ | ​ | (498) | ​ | ​ | (498)
Interest Rate Hedge Contracts: | ​ |  | ​ | ​ |  | ​ | ​ |  | ​ | ​ |  | ​
Receivable position | ​ | ​ | 143 | ​ | ​ | 143 | ​ | ​ | 210 | ​ | ​ | 210
Schedule of assets and liabilities measured at fair value on a recurring basis | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | Basis of Fair Value Measurement
​ | ​ | ​ | ​ | ​ | Quoted | ​ | Significant | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | Prices in | ​ | Other | ​ | Significant
​ | ​ | Outstanding | ​ | Active | ​ | Observable | ​ | Unobservable
(in millions) |  | Balances |  | Markets |  | Inputs |  | Inputs
June 30, 2021: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Equity securities | ​ | $ | 403 | ​ | $ | 403 |  | $ | — |  | $ | —
Interest rate swap derivative financial instruments | ​ |  | 143 | ​ |  | — | ​ |  | 143 | ​ |  | —
Foreign currency forward exchange contracts | ​ |  | 141 | ​ |  | — | ​ |  | 141 | ​ |  | —
Total Assets | ​ | $ | 687 |  | $ | 403 |  | $ | 284 |  | $ | —
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Fair value of hedged long-term debt | ​ | $ | 2,982 | ​ | $ | — |  | $ | 2,982 |  | $ | —
Foreign currency forward exchange contracts | ​ | ​ | 218 | ​ | ​ | — | ​ | ​ | 218 | ​ | ​ | —
Contingent consideration related to business combinations | ​ |  | 67 | ​ |  | — | ​ |  | — | ​ |  | 67
Total Liabilities | ​ | $ | 3,267 |  | $ | — |  | $ | 3,200 | ​ | $ | 67
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
December 31, 2020: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Equity securities | ​ | $ | 386 |  | $ | 386 |  | $ | — |  | $ | —
Interest rate swap derivative financial instruments | ​ |  | 210 | ​ |  | — | ​ |  | 210 | ​ |  | —
Foreign currency forward exchange contracts | ​ |  | 90 | ​ |  | — | ​ |  | 90 | ​ |  | —
Total Assets | ​ | $ | 686 |  | $ | 386 |  | $ | 300 |  | $ | —
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Fair value of hedged long-term debt | ​ | $ | 3,049 |  | $ | — |  | $ | 3,049 |  | $ | —
Foreign currency forward exchange contracts | ​ |  | 498 | ​ |  | — | ​ |  | 498 | ​ |  | —
Contingent consideration related to business combinations | ​ |  | 68 | ​ |  | — | ​ |  | — | ​ |  | 68
Total Liabilities | ​ | $ | 3,615 |  | $ | — |  | $ | 3,547 |  | $ | 68
​

X
- References No definition available. + Details
Name: | us-gaap_DerivativeInstrumentsAndHedgingActivitiesDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the fair value of financial instruments, including financial assets and financial liabilities, and the measurements of those instruments, assets, and liabilities. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 11 -URI http://asc.fasb.org/extlink&oid=121572278&loc=d3e13467-108611 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258 + Details
Name: | us-gaap_FairValueByBalanceSheetGroupingTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- 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 -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4E -URI http://asc.fasb.org/extlink&oid=121590274&loc=SL5624181-113959 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4A -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=121590274&loc=SL5618551-113959 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4C -URI http://asc.fasb.org/extlink&oid=121590274&loc=SL5624171-113959 + Details
Name: | us-gaap_ScheduleOfDerivativeInstrumentsGainLossInStatementOfFinancialPerformanceTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the location and fair value amounts of derivative instruments (and nonderivative instruments that are designated and qualify as hedging instruments) reported in the statement of financial position. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4B -URI http://asc.fasb.org/extlink&oid=121590274&loc=SL5624163-113959 + Details
Name: | us-gaap_ScheduleOfDerivativeInstrumentsInStatementOfFinancialPositionFairValueTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258 + Details
Name: | us-gaap_ScheduleOfFairValueAssetsAndLiabilitiesMeasuredOnRecurringBasisTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration