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DERIVATIVE FINANCIAL INSTRUMENTS (Tables)
 9 Months Ended
Sep. 30, 2022
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 in our Condensed Consolidated Balance Sheets:
 September 30, 2022
 Derivative AssetsDerivative Liabilities
(in millions)ClassificationFair ValueClassificationFair Value
Derivatives designated as hedges:
Foreign currency exchange contracts Prepaid and other current assets $215  Accrued and other current liabilities $— 
Foreign currency exchange contracts Other long-term assets 17  Other long-term obligations — 
Total derivatives designated as hedges232 — 
Derivatives not designated as hedges:
Foreign currency exchange contracts Prepaid and other current assets 10  Accrued and other current liabilities 2 
Total derivatives not designated as hedges10 2 
Total derivatives$242 $2 
 December 31, 2021
 Derivative AssetsDerivative Liabilities
(in millions)ClassificationFair ValueClassificationFair Value
Derivatives designated as hedges:    
Foreign currency exchange contracts Prepaid and other current assets $75  Accrued and other current liabilities $4 
Foreign currency exchange contracts Other long-term assets 5  Other long-term obligations 1 
Total derivatives designated as hedges80 5 
Derivatives not designated as hedges:
Foreign currency exchange contracts Prepaid and other current assets —  Accrued and other current liabilities — 
Total derivatives not designated as hedges—  — 
Total derivatives$80  $5 
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 EndedNine Months Ended
 September 30,September 30,
(in millions)2022202120222021
Derivatives designated as hedges:
Gains (losses) recognized in AOCI$162 $42 $292 $104 
Gains (losses) reclassified from AOCI into Product sales$48 $(21)$115 $(69)
Derivatives not designated as hedges:
Gains (losses) recognized in Other income (expense), net$6 $5 $70 $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 the Condensed Consolidated Balance Sheets
(in millions) Gross Amounts of Assets/Liabilities Presented on the Condensed Consolidated Balance Sheets  Derivative Financial Instruments  Cash Collateral Received/Pledged  Net Amount (Legal Offset)
As of September 30, 2022
Derivative assets$242 $(2)$— $240 
Derivative liabilities$2 $(2)$— $— 
As of December 31, 2021
Derivative assets$80 $(4)$— $76 
Derivative liabilities$5 $(4)$— $1