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v3.23.1

DERIVATIVE FINANCIAL INSTRUMENTS AND HEDGING ACTIVITIES - Impact of Derivatives on Consolidated Statement of Income (Details) - USD ($) $ in Millions | 3 Months Ended
--- | ---
Mar. 31, 2023 | Mar. 31, 2022
Derivative [Line Items] |  |
Net sales | $ 5,483 | $ 4,843
Cost of products sold | 3,599 | 3,269
Interest expense - net | 50 | 32
Cash flow hedging | Net sales | Forward starting floating-to-fixed interest rate swaps |  |
Derivative [Line Items] |  |
Gain (loss) on hedged item | 0 |
Gain (loss) on hedging instrument | 0 |
Cash flow hedging | Net sales | Currency exchange contracts |  |
Derivative [Line Items] |  |
Gain (loss) on hedged item | 2 | 2
Gain (loss) on hedging instrument | (2) | (2)
Cash flow hedging | Net sales | Commodity contracts |  |
Derivative [Line Items] |  |
Gain (loss) on hedged item |  | 0
Gain (loss) on hedging instrument |  | 0
Cash flow hedging | Cost of products sold | Forward starting floating-to-fixed interest rate swaps |  |
Derivative [Line Items] |  |
Gain (loss) on hedged item | 0 |
Gain (loss) on hedging instrument | 0 |
Cash flow hedging | Cost of products sold | Currency exchange contracts |  |
Derivative [Line Items] |  |
Gain (loss) on hedged item | (15) | (3)
Gain (loss) on hedging instrument | 15 | 3
Cash flow hedging | Cost of products sold | Commodity contracts |  |
Derivative [Line Items] |  |
Gain (loss) on hedged item |  | (1)
Gain (loss) on hedging instrument |  | 1
Cash flow hedging | Interest expense - net | Forward starting floating-to-fixed interest rate swaps |  |
Derivative [Line Items] |  |
Gain (loss) on hedged item | (3) |
Gain (loss) on hedging instrument | 3 |
Cash flow hedging | Interest expense - net | Currency exchange contracts |  |
Derivative [Line Items] |  |
Gain (loss) on hedged item | 0 | 0
Gain (loss) on hedging instrument | $ 0 | 0
Cash flow hedging | Interest expense - net | Commodity contracts |  |
Derivative [Line Items] |  |
Gain (loss) on hedged item |  | 0
Gain (loss) on hedging instrument |  | 0
Fair value hedging | Net sales | Interest rate swap |  |
Derivative [Line Items] |  |
Gain (loss) on hedged item |  | 0
Gain (loss) on hedging instrument |  | 0
Fair value hedging | Cost of products sold | Interest rate swap |  |
Derivative [Line Items] |  |
Gain (loss) on hedged item |  | 0
Gain (loss) on hedging instrument |  | 0
Fair value hedging | Interest expense - net | Interest rate swap |  |
Derivative [Line Items] |  |
Gain (loss) on hedged item |  | 8
Gain (loss) on hedging instrument |  | $ (8)

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