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DERIVATIVE FINANCIAL INSTRUMENTS (Tables)
 3 Months Ended
Mar. 31, 2021
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Summary of Classification and Fair Value of Derivative Instruments The following table summarizes the classification and fair values of derivative instruments on our Condensed Consolidated Balance Sheets:
 March 31, 2021
 Asset DerivativesLiability Derivatives
(in millions)ClassificationFair ValueClassificationFair Value
Derivatives designated as hedges:    
Foreign currency exchange contracts
Prepaid and other current assets$25 Other accrued liabilities$(41)
Foreign currency exchange contracts
Other long-term assets7 Other long-term obligations— 
Total derivatives designated as hedges 32  (41)
Derivatives not designated as hedges:    
Foreign currency exchange contracts
Prepaid and other current assets— Other accrued liabilities— 
Total derivatives not designated as hedges —  — 
Total derivatives $32  $(41)
 December 31, 2020
 Asset DerivativesLiability Derivatives
(in millions)ClassificationFair Value ClassificationFair Value
Derivatives designated as hedges:    
Foreign currency exchange contracts
Prepaid and other current assets$— Other accrued liabilities$(113)
Foreign currency exchange contracts
Other long-term assets— Other long-term obligations(7)
Total derivatives designated as hedges —  (120)
Derivatives not designated as hedges:    
Foreign currency exchange contracts
Prepaid and other current assets12 Other accrued liabilities(1)
Total derivatives not designated as hedges 12  (1)
Total derivatives $12  $(121)
Summary of Effect of Foreign Currency Exchange Contracts
The following table summarizes the effect of our foreign currency exchange contracts on our Condensed Consolidated Financial Statements:
Three Months Ended
 March 31,
(in millions)20212020
Derivatives designated as hedges:
Gains recognized in AOCI$78 $66 
Gains (losses) reclassified from AOCI into product sales$(25)$27 
Derivatives not designated as hedges:
Gains recognized in Other income (expense), net$34 $24 
Summary of Potential Effect of Offsetting Derivatives The following table summarizes the potential effect of offsetting our foreign currency exchange contracts on our Condensed Consolidated Balance Sheets:
Gross Amounts Not Offset
on our Condensed
Consolidated Balance Sheets
(in millions)Gross Amounts
 of Recognized
Assets/Liabilities		Gross Amounts
 Offset on our
Condensed
Consolidated
Balance Sheets		Amounts of Assets/Liabilities Presented
 on our Condensed Consolidated
Balance Sheets		Derivative
Financial
Instruments		Cash Collateral
Received/
Pledged		Net Amount
 (Legal Offset)
As of March 31, 2021
Derivative assets$32 $— $32 $(22)$— $10 
Derivative liabilities$(41)$— $(41)$22 $— $(19)
As of December 31, 2020
Derivative assets$12 $— $12 $(12)$— $— 
Derivative liabilities$(121)$— $(121)$12 $— $(109)