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DERIVATIVE INSTRUMENTS AND RISK MANAGEMENT (Tables)
 6 Months Ended
Jun. 30, 2021
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 statements of consolidated income for 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, 2021 and 2020 (in millions):


Three Months Ended June 30,
Location and Amount of Gain (Loss) Recognized in Income on Fair Value and Cash Flow Hedging Relationships20212020
RevenueInterest ExpenseInvestment Income and OtherRevenueInterest ExpenseInvestment Income and Other
Gain or (loss) on fair value hedging relationships:
Interest Contracts:
Hedged items$— $4 $— $— $2 $— 
Derivatives designated as hedging instruments— (4)— — (2)— 
Gain or (loss) on cash flow hedging relationships:
Interest Contracts:
Amount of gain or (loss) reclassified from accumulated other comprehensive income— (3)— — (3)— 
Foreign Currency Exchange Contracts:
Amount of gain or (loss) reclassified from accumulated other comprehensive income7 — — 71 — — 
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$7 $(3)$— $71 $(3)$— 
Six Months Ended June 30,


20212020
Location and Amount of Gain (Loss) Recognized in Income on Fair Value and Cash Flow Hedging RelationshipsRevenueInterest ExpenseInvestment Income and OtherRevenueInterest ExpenseInvestment Income and Other
Gain or (loss) on fair value hedging relationships:
Interest Contracts:
Hedged items$— $10 $— $— $(34)$— 
Derivatives designated as hedging instruments— (10)— — 34 — 
Gain or (loss) on cash flow hedging relationships:
Interest Contracts:
Amount of gain or (loss) reclassified from accumulated other comprehensive income— (5)— — (6)— 
Foreign Currency Exchange Contracts:
Amount of gain or (loss) reclassified from accumulated other comprehensive income22 — — 135 — — 
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$22 $(5)$— $135 $(6)$— 
Schedule of Notional Amounts of Outstanding Derivative Positions As of June 30, 2021 and December 31, 2020, the notional amounts of our outstanding derivative positions were as follows (in millions):
 June 30, 2021December 31, 2020
Currency hedges:
EuroEUR3,885 EUR4,197 
British Pound SterlingGBP1,321 GBP1,400 
Canadian DollarCAD1,490 CAD1,576 
Hong Kong DollarHKD2,590 HKD3,717 
Interest rate hedges:
Fixed to Floating Interest Rate SwapsUSD1,000 USD3,250 
Floating to Fixed Interest Rate SwapsUSD28 USD778 
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value
Fair Value Hierarchy LevelGross Amounts Presented in Consolidated Balance SheetsNet Amounts if Right of
Offset had been Applied
Asset DerivativesBalance Sheet LocationJune 30,
2021		December 31,
2020		June 30,
2021		December 31,
2020
Derivatives designated as hedges:
Foreign currency exchange contractsOther current assetsLevel 2$73 $56 $53 $45 
Interest rate contractsOther current assetsLevel 2— 2 — 2 
Foreign currency exchange contractsOther non-current assetsLevel 237 35 11 4 
Interest rate contractsOther non-current assetsLevel 221 29 19 26 
Derivatives not designated as hedges:
Foreign currency exchange contractsOther current assetsLevel 2— 4 — 4 
Total Asset Derivatives$131 $126 $83 $81 
Fair Value Hierarchy LevelGross Amounts Presented in
Consolidated Balance Sheets		Net Amounts if Right of
Offset had been Applied
Liability DerivativesBalance Sheet LocationJune 30,
2021		December 31,
2020		June 30,
2021		December 31,
2020
Derivatives designated as hedges:
Foreign currency exchange contractsOther current liabilitiesLevel 2$33 $34 $13 $23 
Foreign currency exchange contractsOther non-current liabilitiesLevel 279 142 53 111 
Interest rate contractsOther non-current liabilitiesLevel 211 13 9 10 
Derivatives not designated as hedges:
Foreign currency exchange contractsOther current liabilitiesLevel 24 2 4 2 
Interest rate contractsOther current liabilitiesLevel 2— 1 — 1 
Total Liability Derivatives$127 $192 $79 $147 
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, 2021 and December 31, 2020 (in millions):
Line Item in the Consolidated Balance Sheets in Which the Hedged Item is IncludedCarrying Amount
of Hedged Liabilities		Cumulative Amount
of Fair Value Hedge
Adjustments		Carrying Amount
of Hedged Liabilities		Cumulative Amount
 of Fair Value Hedge
Adjustments
June 30, 2021June 30, 2021December 31, 2020December 31, 2020
Long-term debt and finance leases$1,300 $26 $2,816 $42 
Schedule of Derivative Instruments, Effect on Other Comprehensive Income (Loss)
The following table indicates the amount of gains and (losses) that have been recognized in AOCI for the three and six months ended June 30, 2021 and 2020 for those derivatives designated as cash flow hedges (in millions):
Three Months Ended June 30:
Derivative Instruments in Cash Flow Hedging RelationshipsAmount of Gain (Loss) Recognized in AOCI on Derivatives
20212020
Interest rate contracts$(3)$(2)
Foreign currency exchange contracts(54)(80)
Total$(57)$(82)
Six Months Ended June 30:
Derivative Instruments in Cash Flow Hedging RelationshipsAmount of Gain (Loss) Recognized in AOCI on Derivatives
20212020
Interest rate contracts$— $(3)
Foreign currency exchange contracts106 267 
Total$106 $264 
The following table indicates the amount of gains and (losses) that have been recognized in AOCI within foreign currency translation adjustment for the three and six months ended June 30, 2021 and 2020 for those instruments designated as net investment hedges (in millions):
Three Months Ended June 30:
Non-derivative Instruments in Net Investment Hedging RelationshipsAmount of Gain (Loss) Recognized in AOCI on Debt
20212020
Foreign denominated debt$(47)$(103)
Total$(47)$(103)
Six Months Ended June 30:
Non-derivative Instruments in Net Investment Hedging RelationshipsAmount of Gain (Loss) Recognized in AOCI on Debt
20212020
Foreign denominated debt$77 $47 
Total$77 $47 
Schedule of Derivative Instruments, Gain (Loss) in Statement of Financial Performance The following is a summary of the amounts recorded in the statements of consolidated income related to fair value changes and settlements of these interest rate swaps and foreign currency exchange forward contracts not designated as hedges for the three and six months ended June 30, 2021 and 2020 (in millions):
Derivative Instruments Not Designated in
Hedging Relationships		Location of Gain (Loss)
Recognized in Income		Amount of Gain (Loss) Recognized in Income
20212020
Three Months Ended June 30:
Interest rate swap contractsInterest expense$— $(2)
Foreign currency exchange contractsInvestment income and other3 2 
Total$3 $— 
Six Months Ended June 30:
Interest rate swap contractsInterest expense$— $(4)
Foreign currency exchange contractsInvestment income and other(3)(49)
Total $(3)$(53)