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Financial Instruments - Fair Value of Derivative Instruments (Details) $ in Millions | Mar. 31, 2022 EUR (€) | Mar. 31, 2022 USD ($) | Dec. 31, 2021 USD ($) | Sep. 20, 2021 EUR (€)
--- | --- | --- | --- | ---
Derivatives, Fair Value [Line Items] |  |  |  |  |
Asset Derivatives |  |  | $ 889 | $ 687 |
Liability Derivatives |  |  | 404 | 242 |
0.000% Notes Due September 2024 | Exchangeable Notes |  |  |  |  |
Derivatives, Fair Value [Line Items] |  |  |  |  |
Debt issued | € |  | € 300,000,000 |  |  | € 300,000,000
Derivatives designated as accounting hedges |  |  |  |  |
Derivatives, Fair Value [Line Items] |  |  |  |  |
Asset Derivatives |  |  | 165 | 144 |
Liability Derivatives |  |  | 57 | 62 |
Derivatives designated as accounting hedges | Currency exchange contracts |  |  |  |  |
Derivatives, Fair Value [Line Items] |  |  |  |  |
Asset Derivatives |  |  | 1 | 0 |
Liability Derivatives |  |  | 3 | 0 |
Derivatives designated as accounting hedges | Interest rate contracts |  |  |  |  |
Derivatives, Fair Value [Line Items] |  |  |  |  |
Asset Derivatives |  |  | 27 | 27 |
Liability Derivatives |  |  | 3 | 17 |
Derivatives designated as accounting hedges | Net investment hedge derivative contracts |  |  |  |  |
Derivatives, Fair Value [Line Items] |  |  |  |  |
Asset Derivatives | [1] |  | 137 | 117 |
Liability Derivatives | [1] |  | 51 | 45 |
Derivatives not designated as accounting hedges |  |  |  |  |
Derivatives, Fair Value [Line Items] |  |  |  |  |
Asset Derivatives |  |  | 724 | 543 |
Liability Derivatives |  |  | 347 | 180 |
Derivatives not designated as accounting hedges | Currency exchange contracts |  |  |  |  |
Derivatives, Fair Value [Line Items] |  |  |  |  |
Asset Derivatives |  |  | 135 | 156 |
Liability Derivatives |  |  | 124 | 40 |
Derivatives not designated as accounting hedges | Commodity contracts |  |  |  |  |
Derivatives, Fair Value [Line Items] |  |  |  |  |
Asset Derivatives |  |  | 589 | 387 |
Liability Derivatives |  |  | 220 | 137 |
Derivatives not designated as accounting hedges | Equity method investment contracts |  |  |  |  |
Derivatives, Fair Value [Line Items] |  |  |  |  |
Asset Derivatives | [2] |  | 0 | 0 |
Liability Derivatives | [2] |  | $ 3 | $ 3 |
[1] | Net investment hedge derivative contracts consist of cross-currency interest rate swaps, forward contracts and options. We also designate some of our non-U.S. dollar denominated debt to hedge a portion of our net investments in our non-U.S. operations. This debt is not reflected in the table above, but is included in long-term debt discussed in Note 8, Debt and Borrowing Arrangements. Both net investment hedge derivative contracts and non-U.S. dollar denominated debt acting as net investment hedges are also disclosed in the Derivative Volume table and the Hedges of Net Investments in International Operations section appearing later in this footnote.
[2] | Equity method investment contracts consist of the bifurcated embedded derivative option that was a component of the September 20, 2021 €300 million exchangeable bonds issuance. Refer to Note 8, Debt and Borrowing Arrangements

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