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DERIVATIVE INSTRUMENTS AND RISK MANAGEMENT (Tables) | 6 Months Ended
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Jun. 30, 2019
Derivative Instruments, Gain (Loss) [Line Items] |
Schedule of Derivatives Instruments Statements of Financial Performance and Financial Position, Location [Table Text Block] | The following table indicates the amount of gains and losses that have been recognized in the income statement for the fair value and cash flow hedges, as well as the associated gain or (loss) for the underlying hedged item for fair value hedges for the three and six months ended June 30, 2019 and 2018 (in millions):
| Three Months Ended June 30, |  | Three Months Ended June 30,
| 2019 |  | 2018
Location and Amount of Gain (Loss) Recognized in Income on Fair Value and Cash Flow Hedging Relationships | Revenue |  | Interest Expense |  | Investment Income and Other |  | Revenue |  | Interest Expense |  | Investment Income and Other
Gain or (loss) on fair value hedging relationships: |  |  |  |  |  |  |  |  |  |  |
Interest Contracts: |  |  |  |  |  |  |  |  |  |  |
Hedged items | $ | — |  |  | $ | (30 | ) |  | $ | — |  |  | $ | — |  |  | $ | 19 |  |  | $ | — |
Derivatives designated as hedging instruments | — |  |  | 30 |  |  | — |  |  | — |  |  | (19 | ) |  | — |
Gains or (loss) on cash flow hedging relationships: |  |  |  |  |  |  |  |  |  |  |
Interest Contracts: |  |  |  |  |  |  |  |  |  |  |
Amount of gain or (loss) reclassified from accumulated other comprehensive income | — |  |  | (3 | ) |  | — |  |  | — |  |  | (6 | ) |  | — |
Foreign Exchange Contracts: |  |  |  |  |  |  |  |  |  |  |
Amount of gain or (loss) reclassified from accumulated other comprehensive income into income | 39 |  |  | — |  |  | — |  |  | (20 | ) |  | — |  |  | — |
Total amounts of income and expense line items presented in the statement of income in which the effects of fair value or cash flow hedges are recorded | $ | 39 |  |  | $ | (3 | ) |  | $ | — |  |  | $ | (20 | ) |  | $ | (6 | ) |  | $ | — |
| Six Months Ended June 30, |  | Six Months Ended June 30,
| 2019 |  | 2018
Location and Amount of Gain (Loss) Recognized in Income on Fair Value and Cash Flow Hedging Relationships | Revenue |  | Interest Expense |  | Investment Income and Other |  | Revenue |  | Interest Expense |  | Investment Income and Other
Gain or (loss) on fair value hedging relationships: |  |  |  |  |  |  |  |  |  |  |
Interest Contracts: |  |  |  |  |  |  |  |  |  |  |
Hedged items | $ | — |  |  | $ | (45 | ) |  | $ | — |  |  | $ | — |  |  | $ | 73 |  |  | $ | — |
Derivatives designated as hedging instruments | — |  |  | 45 |  |  | — |  |  | — |  |  | (73 | ) |  | — |
Gains or (loss) on cash flow hedging relationships: |  |  |  |  |  |  |  |  |  |  |
Interest Contracts: |  |  |  |  |  |  |  |  |  |  |
Amount of gain or (loss) reclassified from accumulated other comprehensive income | — |  |  | (9 | ) |  | — |  |  | — |  |  | (12 | ) |  | — |
Foreign Exchange Contracts: |  |  |  |  |  |  |  |  |  |  |
Amount of gain or (loss) reclassified from accumulated other comprehensive income into income | 62 |  |  | — |  |  | — |  |  | (62 | ) |  | — |  |  | — |
Total amounts of income and expense line items presented in the statement of income in which the effects of fair value or cash flow hedges are recorded | $ | 62 |  |  | $ | (9 | ) |  | $ | — |  |  | $ | (62 | ) |  | $ | (12 | ) |  | $ | — |
Schedule of Notional Amounts of Outstanding Derivative Positions | As of June 30, 2019 and December 31, 2018, the notional amounts of our outstanding derivative positions were as follows (in millions):
| June 30, 2019 |  | December 31, 2018
Currency hedges: |  |  |  |  |
Euro | EUR | 4,793 |  |  | EUR | 4,924 |
British Pound Sterling | GBP | 1,806 |  |  | GBP | 2,037 |
Canadian Dollar | CAD | 1,444 |  |  | CAD | 1,443 |
Hong Kong Dollar | HKD | 3,629 |  |  | HKD | 3,642 |
Singapore Dollar | SGD | — |  |  | SGD | 20 |
Interest rate hedges: |  |  |  |  |
Fixed to Floating Interest Rate Swaps | USD | 3,674 |  |  | USD | 4,674 |
Floating to Fixed Interest Rate Swaps | USD | 778 |  |  | USD | 778 |
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value | The following table indicates the amounts that were recorded in the consolidated balance sheets related to cumulative basis adjustments for fair value hedges as of June 30, 2019 and December 31, 2018 (in millions).
|  | Carrying Amount of Hedged Liabilities |  | Cumulative Amount of Fair Value Hedge Adjustments |  | Carrying Amount of Hedged Liabilities |  | Cumulative Amount of Fair Value Hedge Adjustments
Line Item in the Consolidated Balance Sheet in Which the Hedged Item is Included |  | June 30, 2019 |  | June 30, 2019 |  | December 31, 2018 |  | December 31, 2018
Long-term debt and finance leases |  | 3,246 |  |  | 54 |  |  | 4,207 |  |  | 16 |
|  |  | Fair Value Hierarchy Level |  | Gross Amounts Presented in Consolidated Balance Sheets |  | Net Amounts if Right of Offset had been Applied
Asset Derivatives | Balance Sheet Location |  |  | June 30, 2019 |  | December 31, 2018 |  | June 30, 2019 |  | December 31, 2018
Derivatives designated as hedges: |  |  |  |  |  |  |  |  |  |  |
Foreign exchange contracts | Other current assets |  | Level 2 |  | $ | 119 |  |  | $ | 90 |  |  | $ | 114 |  |  | $ | 83 |
Interest rate contracts | Other current assets |  | Level 2 |  | 4 |  |  | 1 |  |  | 4 |  |  | 1 |
Foreign exchange contracts | Other non-current assets |  | Level 2 |  | 264 |  |  | 230 |  |  | 254 |  |  | 215 |
Interest rate contracts | Other non-current assets |  | Level 2 |  | 25 |  |  | 14 |  |  | 24 |  |  | 6 |
Derivatives not designated as hedges: |  |  |  |  |  |  |  |  |  |  |
Foreign exchange contracts | Other current assets |  | Level 2 |  | 2 |  |  | 7 |  |  | 2 |  |  | 5 |
Foreign exchange contracts | Other non-current assets |  | Level 2 |  | — |  |  | 1 |  |  | — |  |  | 1 |
Interest rate contracts | Other non-current assets |  | Level 2 |  | 17 |  |  | 18 |  |  | 16 |  |  | 18 |
Total Asset Derivatives |  |  |  |  | $ | 431 |  |  | $ | 361 |  |  | $ | 414 |  |  | $ | 329 |
|  |  | Fair Value Hierarchy Level |  | Gross Amounts Presented in Consolidated Balance Sheets |  | Net Amounts if Right of Offset had been Applied
Liability Derivatives | Balance Sheet Location |  |  | June 30, 2019 |  | December 31, 2018 |  | June 30, 2019 |  | December 31, 2018
Derivatives designated as hedges: |  |  |  |  |  |  |  |  |  |  |
Foreign exchange contracts | Other current liabilities |  | Level 2 |  | $ | 5 |  |  | $ | 7 |  |  | $ | — |  |  | $ | — |
Foreign exchange contracts | Other non-current liabilities |  | Level 2 |  | 10 |  |  | 15 |  |  | — |  |  | — |
Interest rate contracts | Other non-current liabilities |  | Level 2 |  | 12 |  |  | 41 |  |  | 11 |  |  | 33 |
Derivatives not designated as hedges: |  |  |  |  |  |  |  |  |  |  |
Foreign exchange contracts | Other current liabilities |  | Level 2 |  | 1 |  |  | 3 |  |  | 1 |  |  | 1 |
Foreign exchange contracts | Other non-current liabilities |  | Level 2 |  | — |  |  | 1 |  |  | — |  |  | 1 |
Interest rate contracts | Other non-current liabilities |  | Level 2 |  | 2 |  |  | — |  |  | 1 |  |  | — |
Total Liability Derivatives |  |  |  |  | $ | 30 |  |  | $ | 67 |  |  | $ | 13 |  |  | $ | 35 |
Schedule of Derivative Instruments, Effect on Other Comprehensive Income (Loss) | The following table indicates the amount of gains and losses that have been recognized in AOCI within foreign currency translation adjustment for the three and six months ended June 30, 2019 and 2018 for those instruments designated as net investment hedges (in millions):
Three Months Ended June 30: |  |  |  |
Non-derivative Instruments in Net Investment Hedging Relationships |  | Amount of Gain (Loss) Recognized in AOCI on Debt
| 2019 |  | 2018
Foreign denominated debt |  | $ | (67 | ) |  | $ | 218 |
Total |  | $ | (67 | ) |  | $ | 218 |
Six Months Ended June 30: |  |  |  |
Non-derivative Instruments in Net Investment Hedging Relationships |  | Amount of Gain (Loss) Recognized in AOCI on Debt (Effective Portion)
| 2019 |  | 2018
Foreign denominated debt |  | $ | 6 |  |  | 138 |
Total |  | $ | 6 |  |  | $ | 138 |
The following table indicates the amount of gains and (losses) that have been recognized in AOCI for the three and six months ended June 30, 2019 and 2018 for those derivatives designated as cash flow hedges (in millions):
Three Months Ended June 30: |  |  |  |
Derivative Instruments in Cash Flow Hedging Relationships |  | Amount of Gain (Loss) Recognized in AOCI on Derivative
| 2019 |  | 2018
Interest rate contracts |  | $ | (2 | ) |  | $ | 1 |
Foreign exchange contracts |  | 22 |  |  | 411 |
Total |  | $ | 20 |  |  | $ | 412 |
Six Months Ended June 30: |  |  |  |
Derivative Instruments in Cash Flow Hedging Relationships |  | Amount of Gain (Loss) Recognized in AOCI on Derivative (Effective Portion)
| 2019 |  | 2018
Interest rate contracts |  | $ | 11 |  |  | $ | 2 |
Foreign exchange contracts |  | 126 |  |  | 275 |
Total |  | $ | 137 |  |  | $ | 277 |
Schedule of Derivative Instruments, Gain (Loss) in Statement of Financial Performance | The following is a summary of the amounts recorded in the statements of consolidated income related to fair value changes and settlements of these interest rate swaps, foreign currency forward and investment market price forward contracts not designated as hedges for the three and six months ended June 30, 2019 and 2018 (in millions):
Derivative Instruments Not Designated in Hedging Relationships | Location of Gain (Loss) Recognized in Income |  | Amount of Gain (Loss) Recognized in Income
| 2019 |  | 2018
Three Months Ended June 30: |  |  |  |  |
Interest rate contracts | Interest expense |  | $ | (2 | ) |  | $ | (2 | )
Foreign exchange contracts | Investment income and other |  | (19 | ) |  | (67 | )
Total |  |  | $ | (21 | ) |  | $ | (69 | )
Six Months Ended June 30: |  |  |  |  |
Interest rate contracts | Interest expense |  | $ | (4 | ) |  | $ | (4 | )
Foreign exchange contracts | Investment income and other |  | (20 | ) |  | $ | (59 | )
Investment market price contracts | Investment income and other |  | — |  |  | 16 |
Total |  |  | $ | (24 | ) |  | $ | (47 | )

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