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DERIVATIVE INSTRUMENTS AND HEDGING TRANSACTIONS (Tables) | 6 Months Ended
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Jun. 30, 2025
Derivative Instruments and Hedging Activities Disclosure [Abstract] |
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value | The following table summarizes the notional amounts and fair values of the Company’s outstanding derivatives by risk category and instrument type within the Consolidated Balance Sheet:
| Notional |  | Fair Value Asset |  | Fair Value Liability
June 30, 2025 |  | December 31, 2024 |  | June 30, 2025 |  | December 31, 2024 |  | June 30, 2025 |  | December 31, 2024
Derivatives in fair value hedging relationships |  |  |  |  |  |  |  |  |  |  |
Interest rate swap agreements | $ | 4,050 |  |  | $ | 3,899 |  |  | $ | 14 |  |  | $ | 3 |  |  | $ | (101) |  |  | $ | (139) |
Derivatives in cash flow hedging relationships |  |  |  |  |  |  |  |  |  |  |
Foreign currency exchange contracts | 717 |  |  | 1,235 |  |  | 7 |  |  | 30 |  |  | (24) |  |  | (10) |
Commodity contracts | 7 |  |  | 1 |  |  | — |  |  | — |  |  | — |  |  | — |
Derivatives in net investment hedging relationships |  |  |  |  |  |  |  |  |  |  |
Cross currency swap agreements | 7,214 |  |  | 7,214 |  |  | 7 |  |  | 124 |  |  | (777) |  |  | (56) |
Total derivatives designated as hedging instruments | 11,988 |  |  | 12,349 |  |  | 28 |  |  | 157 |  |  | (902) |  |  | (205) |
Derivatives not designated as hedging instruments |  |  |  |  |  |  |  |  |  |  |
Foreign currency exchange contracts | 10,017 |  |  | 8,773 |  |  | 2 |  |  | 3 |  |  | (7) |  |  | (5) |
Total Derivative instruments | $ | 22,005 |  |  | $ | 21,122 |  |  | $ | 30 |  |  | $ | 160 |  |  | $ | (909) |  |  | $ | (210) |
Schedule of Derivative Instruments | The following table sets forth the amounts recorded in the Consolidated Balance Sheet related to cumulative basis adjustments for fair value hedges:
| Carrying Amount of Hedged Item |  | Cumulative Amount of Fair Value Hedging Adjustment Included in the Carrying Amount of Hedged Item
June 30, 2025 |  | December 31, 2024 |  | June 30, 2025 |  | December 31, 2024
Long-term debt | $ | 3,963 |  |  | $ | 3,763 |  |  | $ | (87) |  |  | $ | (136) |
Derivative Instruments, Gain (Loss) | The following tables summarize the location and impact to the Consolidated Statement of Operations related to derivative instruments:
| Three Months Ended June 30, 2025
| Net Sales |  | Cost of Products Sold |  | Cost of Services Sold |  | Selling, General and Administrative Expenses |  | Other Income (Expense) |  | Interest and Other Financial Charges
| $ | 10,352 |  |  | $ | 4,548 |  |  | $ | 1,781 |  |  | $ | 1,428 |  |  | $ | 87 |  |  | $ | 330 |
Gain or (loss) on cash flow hedges |  |  |  |  |  |  |  |  |  |  |
Foreign currency exchange contracts |  |  |  |  |  |  |  |  |  |  |
Amount reclassified from accumulated other comprehensive loss into income | (1) |  |  | (5) |  |  | (2) |  |  | 1 |  |  | — |  |  | — |
Gain or (loss) on fair value hedges |  |  |  |  |  |  |  |  |  |  |
Interest rate swap agreements |  |  |  |  |  |  |  |  |  |  |
Hedged items | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (25) |
Derivatives designated as hedges | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 25 |
Gain or (loss) on derivatives not designated as hedging instruments |  |  |  |  |  |  |  |  |  |  |
Foreign currency exchange contracts | — |  |  | — |  |  | — |  |  | — |  |  | (248) |  |  | — |
| Three Months Ended June 30, 2024
| Net Sales |  | Cost of Products Sold |  | Cost of Services Sold |  | Selling, General and Administrative Expenses |  | Other Income (Expense) |  | Interest and Other Financial Charges
| $ | 9,577 |  |  | $ | 4,247 |  |  | $ | 1,609 |  |  | $ | 1,361 |  |  | $ | 246 |  |  | $ | 250 |
Gain or (loss) on cash flow hedges |  |  |  |  |  |  |  |  |  |  |
Foreign currency exchange contracts |  |  |  |  |  |  |  |  |  |  |
Amount reclassified from accumulated other comprehensive loss into income | 2 |  |  | 6 |  |  | 2 |  |  | 4 |  |  | — |  |  | — |
Gain or (loss) on fair value hedges |  |  |  |  |  |  |  |  |  |  |
Interest rate swap agreements |  |  |  |  |  |  |  |  |  |  |
Hedged items | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 4 |
Derivatives designated as hedges | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (4) |
Gain or (loss) on derivatives not designated as hedging instruments |  |  |  |  |  |  |  |  |  |  |
Foreign currency exchange contracts | — |  |  | — |  |  | — |  |  | — |  |  | 10 |  |  | — |
| Six Months Ended June 30, 2025
| Net Sales |  | Cost of Products Sold |  | Cost of Services Sold |  | Selling, General and Administrative Expenses |  | Other Income (Expense) |  | Interest and Other Financial Charges
| $ | 20,174 |  |  | $ | 8,799 |  |  | $ | 3,567 |  |  | $ | 2,789 |  |  | $ | 287 |  |  | $ | 616 |
Gain (loss) on cash flow hedges |  |  |  |  |  |  |  |  |  |  |
Foreign currency exchange contracts |  |  |  |  |  |  |  |  |  |  |
Amount reclassified from accumulated other comprehensive loss into income | — |  |  | (3) |  |  | (1) |  |  | (1) |  |  | — |  |  | — |
Gain (loss) on fair value hedges |  |  |  |  |  |  |  |  |  |  |
Interest rate swap agreements |  |  |  |  |  |  |  |  |  |  |
Hedged items | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (49) |
Derivatives designated as hedges | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 49 |
Gain (loss) on derivatives not designated as hedging instruments |  |  |  |  |  |  |  |  |  |  |
Foreign currency exchange contracts | — |  |  | — |  |  | — |  |  | — |  |  | (392) |  |  | — |
| Six Months Ended June 30, 2024
| Net Sales |  | Cost of Products Sold |  | Cost of Services Sold |  | Selling, General and Administrative Expenses |  | Other Income (Expense) |  | Interest and Other Financial Charges
| $ | 18,682 |  |  | $ | 8,282 |  |  | $ | 3,157 |  |  | $ | 2,663 |  |  | $ | 477 |  |  | $ | 470 |
Gain (loss) on cash flow hedges |  |  |  |  |  |  |  |  |  |  |
Foreign currency exchange contracts |  |  |  |  |  |  |  |  |  |  |
Amount reclassified from accumulated other comprehensive loss into income | 3 |  |  | 8 |  |  | 3 |  |  | 5 |  |  | — |  |  | — |
Gain (loss) on fair value hedges |  |  |  |  |  |  |  |  |  |  |
Interest rate swap agreements |  |  |  |  |  |  |  |  |  |  |
Hedged items | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 46 |
Derivatives designated as hedges | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (46) |
Gain (loss) on derivatives not designated as hedging instruments |  |  |  |  |  |  |  |  |  |  |
Foreign currency exchange contracts | — |  |  | — |  |  | — |  |  | — |  |  | 33 |  |  | — |
Schedule of Net Investment Hedges in Accumulated Other Comprehensive Income (Loss) | The following table summarizes the amounts of gain or (loss) on net investment hedges recognized in Accumulated other comprehensive loss:
| Three Months Ended June 30, |  | Six Months Ended June 30,
2025 |  | 2024 |  | 2025 |  | 2024
Euro-denominated long-term debt | $ | (395) |  |  | $ | 61 |  |  | $ | (593) |  |  | $ | 100 |
Euro-denominated commercial paper | (83) |  |  | 22 |  |  | (125) |  |  | 41 |
Cross currency swap agreements | (591) |  |  | 12 |  |  | (838) |  |  | 87 |

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- 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 4CC -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-4CC Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 815 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 4C -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-4C Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 815 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 4A -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-4A Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 815 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 4A -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-4A Reference 5: 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 + Details
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- 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://www.xbrl.org/2003/role/exampleRef -Topic 815 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 182 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480401/815-10-55-182 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 815 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 4A -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-4A Reference 3: 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 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 815 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 4B -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-4B + Details
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- Definition Tabular disclosure of pertinent information about a derivative or group of derivatives on a disaggregated basis, such as for individual instruments, or small groups of similar instruments. May include a combination of the type of instrument, risks being hedged, notional amount, hedge designation, related hedged item, inception date, maturity date, or other relevant item. + References No definition available. + Details
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