v3.22.4

Financial Instruments (Tables) | 12 Months Ended
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Dec. 31, 2022
Derivative Instruments and Hedging Activities Disclosure [Abstract] |
Schedule of Assets and Liabilities Measured at Fair Value on a Recurring Basis | Our assets and liabilities measured at fair value on a recurring basis consist of derivative instruments and investment securities.
| 2022 | 2021
| Level 1 | Level 2 | Level 3 | Net Balance | Level 1 | Level 2 | Level 3 | Net Balance
Assets |  |  |  |  |  |  |  |
Derivatives | $ | — |  | $ | 18 |  | $ | — |  | $ | 18 |  | $ | — |  | $ | 29 |  | $ | — |  | $ | 29 |
Investment securities | 748 |  | — |  | — |  | 748 |  | 1,033 |  | — |  | 8 |  | 1,041 |
Total assets | 748 |  | 18 |  | — |  | 766 |  | 1,033 |  | 29 |  | 8 |  | 1,070 |
Liabilities |  |  |  |  |  |  |  |
Derivatives | — |  | (86) |  | — |  | (86) |  | — |  | (49) |  | — |  | (49) |
Total liabilities | $ | — |  | $ | (86) |  | $ | — |  | $ | (86) |  | $ | — |  | $ | (49) |  | $ | — |  | $ | (49) |
Schedule of Reconciliation of Recurring Level 3 Fair Value Measurements | The following table provides a reconciliation of recurring Level 3 fair value measurements for investment securities:
| 2022 | 2021
Balance at beginning of year | $ | 8 |  | $ | 30 |
Proceeds at maturity | (8) |  | (22) |
Balance at end of year | $ | — |  | $ | 8 |
Schedule of Investment Securities Classified as Available for Sale |
| 2022 | 2021
| Amortized Cost | Gross Unrealized Gains | Gross Unrealized Losses | Estimated Fair Value | Amortized Cost | Gross Unrealized Gains | Gross Unrealized Losses | Estimated Fair Value
Investment securities (1) |  |  |  |  |  |  |  |
Non-U.S. debt securities | $ | — |  | $ | — |  | $ | — |  | $ | — |  | $ | 8 |  | $ | — |  | $ | — |  | $ | 8 |
Equity securities | 557 |  | 191 |  | — |  | 748 |  | 579 |  | 455 |  | (1) |  | 1,033 |
Total | $ | 557 |  | $ | 191 |  | $ | — |  | $ | 748 |  | $ | 587 |  | $ | 455 |  | $ | (1) |  | $ | 1,041 |
(1)Gains (losses) recorded to earnings related to these securities were $(271) million, $(843) million and $1.4 billion for the years ended December 31, 2022, 2021, and 2020, respectively.
Schedule of Derivatives | The table below summarizes the fair value of all derivatives, including hedging instruments and embedded derivatives.
| 2022 | 2021
| Assets | (Liabilities) | Assets | (Liabilities)
Derivatives accounted for as hedges |  |  |  |
Currency exchange contracts | $ | 1 |  | $ | — |  | $ | — |  | $ | (3) |
Interest rate swap contracts | — |  | (69) |  | — |  | (10) |
Derivatives not accounted for as hedges |  |  |  |
Currency exchange contracts and other | 17 |  | (17) |  | 29 |  | (36) |
Total derivatives | $ | 18 |  | $ | (86) |  | $ | 29 |  | $ | (49) |
Schedule of Gains (Losses) From Derivatives not Designated as Hedges | The following table summarizes the gains (losses) from derivatives not designated as hedges in the consolidated statements of income (loss):
Derivatives not designated as hedging instruments | Consolidated statements of income (loss) caption | 2022 | 2021 | 2020
Currency exchange contracts (1) | Cost of goods sold | $ | 24 |  | $ | (9) |  | $ | 59 |
Currency exchange contracts | Cost of services sold | 18 |  | 5 |  | 62 |
Commodity derivatives | Cost of goods sold | (6) |  | 1 |  | 2 |
Other derivatives | Other non-operating income (loss), net | 2 |  | — |  | 8 |
Total (2) |  | $ | 38 |  | $ | (3) |  | $ | 131 |
(1)Excludes a loss of nil, gains of $7 million and losses of $14 million on embedded derivatives for the years ended December 31, 2022, 2021 and 2020, respectively, as embedded derivatives are not considered to be hedging instruments in our economic hedges. (2)The effect on earnings of derivatives not designated as hedges is substantially offset by the change in fair value of the economically hedged items in the current and future periods.

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- Definition Tabular disclosure of the fair value measurement of assets using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes during the period attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets) and gains or losses recognized in other comprehensive income (loss), and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs), by class of asset. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 3 -URI https://asc.fasb.org/extlink&oid=126976982&loc=d3e19279-110258 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c) -URI https://asc.fasb.org/extlink&oid=126976982&loc=d3e19207-110258 + Details
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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 -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4E -URI https://asc.fasb.org/extlink&oid=125515794&loc=SL5624181-113959 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4A -Subparagraph (b) -URI https://asc.fasb.org/extlink&oid=125515794&loc=SL5618551-113959 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4C -URI https://asc.fasb.org/extlink&oid=125515794&loc=SL5624171-113959 + 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 Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4B -URI https://asc.fasb.org/extlink&oid=125515794&loc=SL5624163-113959 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 1B -URI https://asc.fasb.org/extlink&oid=125515794&loc=SL5580258-113959 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 2 -URI https://asc.fasb.org/extlink&oid=125515794&loc=d3e41620-113959 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 1A -URI https://asc.fasb.org/extlink&oid=125515794&loc=SL5579245-113959 Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4 -URI https://asc.fasb.org/extlink&oid=125515794&loc=d3e41638-113959 Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 8 -URI https://asc.fasb.org/extlink&oid=125515794&loc=d3e41678-113959 Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 5 -URI https://asc.fasb.org/extlink&oid=125515794&loc=d3e41641-113959 Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4C -URI https://asc.fasb.org/extlink&oid=125515794&loc=SL5624171-113959 Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 1 -URI https://asc.fasb.org/extlink&oid=125515794&loc=SL5579240-113959 + Details
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- Definition Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (b) -URI https://asc.fasb.org/extlink&oid=126976982&loc=d3e19207-110258 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -URI https://asc.fasb.org/extlink&oid=126976982&loc=d3e19207-110258 + Details
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