XML 38 R28.htm IDEA: XBRL DOCUMENT v3.23.3

DERIVATIVE FINANCIAL INSTRUMENTS (Tables)

9 Months Ended

Sep. 30, 2023

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Summary of Classification and Fair Value of Derivative Instruments

While all our derivative contracts allow us the right to offset assets and liabilities, we have presented amounts in our Condensed Consolidated Balance Sheets on a gross basis. The following table summarizes the classification and fair values of derivative instruments, including the potential effect of offsetting:

						September 30, 2023
						Derivative Assets												Derivative Liabilities
(in millions)						Classification						Fair Value						Classification						Fair Value
Derivatives designated as hedges:
Foreign currency exchange contracts						Prepaid and other current assets						$	57					Other current liabilities						$	7
Foreign currency exchange contracts						Other long-term assets						10						Other long-term obligations						—
Total derivatives designated as hedges												67												7
Derivatives not designated as hedges:
Foreign currency exchange contracts						Prepaid and other current assets						—						Other current liabilities						1
Total derivatives not designated as hedges												—												1
Total derivatives presented gross on the Condensed Consolidated Balance Sheets												$	67											$	8
Gross amounts not offset on the Condensed Consolidated Balance Sheets:
Derivative financial instruments												(8)												(8)
Cash collateral received / pledged												—												—
Net amount (legal offset)												$	59											$	—

						December 31, 2022
						Derivative Assets												Derivative Liabilities
(in millions)						Classification						Fair Value						Classification						Fair Value
Derivatives designated as hedges:
Foreign currency exchange contracts						Prepaid and other current assets						$	59					Other current liabilities						$	26
Foreign currency exchange contracts						Other long-term assets						1						Other long-term obligations						9
Total derivatives designated as hedges												59												35
Derivatives not designated as hedges:
Foreign currency exchange contracts						Prepaid and other current assets						1						Other current liabilities						7
Total derivatives not designated as hedges												1												7
Total derivatives presented gross on the Condensed Consolidated Balance Sheets												$	60											$	42
Gross amounts not offset on the Condensed Consolidated Balance Sheets:
Derivative financial instruments												(36)												(36)
Cash collateral received / pledged												—												—
Net amount (legal offset)												$	25											$	7

Summary of Effect of Foreign Currency Exchange Contracts

The following table summarizes the effect of our derivative contracts on our Condensed Consolidated Financial Statements:

						Three Months Ended												Nine Months Ended
						September 30,												September 30,
(in millions)						2023						2022						2023						2022
Derivatives designated as hedges:
Net gain recognized in Accumulated other comprehensive income						$	75					$	162					$	74					$	292
Net gain reclassified from Accumulated other comprehensive income into Product sales						$	16					$	48					$	50					$	115
Derivatives not designated as hedges:
Net gain (loss) recognized in Other income (expense), net						$	(4)					$	6					$	46					$	70

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 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
-Topic 815
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 4E
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480434/815-10-50-4E

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4C
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480434/815-10-50-4C

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4A
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480434/815-10-50-4A

+ Details

Name:	us-gaap_ScheduleOfDerivativeInstrumentsGainLossInStatementOfFinancialPerformanceTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types: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
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4B
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480434/815-10-50-4B

+ Details

Name:	us-gaap_ScheduleOfDerivativeInstrumentsInStatementOfFinancialPositionFairValueTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration