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DERIVATIVE INSTRUMENTS (Tables)

9 Months Ended

Sep. 30, 2020

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Derivative Instruments

The effect of the Company's fair value and cash flow hedges on the Company's Condensed Consolidated Statement of Earnings for the nine months ended September 30, 2020 is as follows (in millions of dollars):

															Nine Months Ended September 30, 2020
															Interest expense, net						Other, net
Gain or (loss) recognized in earnings
Fair value hedge:
Hedged item															$	(22)					$	—
Interest rate swap designated as hedging instrument															$	22					$	—
Cash flow hedge:
Hedged item															$	—					$	—
Cross-currency swap designated as hedging instrument															$	—					$	—

Schedule of Derivative Instruments in Statement of Financial Position, Fair Value

The fair value and carrying amounts of outstanding derivative instruments in the Condensed Consolidated Balance Sheets as of September 30, 2020 was as follows (in millions of dollars):

			Balance Sheet Classification						Fair Value and Carrying Amounts
Cross-currency swap			Other noncurrent liabilities						$	—
Interest rate swap			Other assets						$	22

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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.

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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.

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