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DERIVATIVE FINANCIAL INSTRUMENTS (Tables) | 12 Months Ended
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Dec. 31, 2022
Derivative Instruments and Hedging Activities Disclosure [Abstract] |
Schedule of Derivative Assets and Liabilities at Fair Value | The following table presents the fair value of derivatives and hedging instruments and the respective location on the Consolidated Balance Sheets (in millions):
|  |  | Fair Value at
| Location |  | December 31, 2022 |  | December 31, 2021
Derivative assets designated as hedging instruments: |  |  |  |  |
Net investment hedges: |  |  |  |  |
Cross currency swaps | Other current assets |  | $ | — |  |  | $ | 5 |
Cross currency swaps | Other non-current assets |  | $ | — |  |  | $ | 1 |
Cash flow hedges: |  |  |  |  |
Natural gas forward swaps | Other current assets |  | $ | 2 |  |  | $ | 16 |
Treasury interest rate lock | Other current assets |  | $ | — |  |  | $ | 11 |
Derivative liabilities designated as hedging instruments: |  |  |  |  |
Net investment hedges: |  |  |  |  |
Cross-currency swaps | Other liabilities |  | $ | — |  |  | $ | 1 |
Cash flow hedges: |  |  |  |  |
Natural gas forward swaps | Other current liabilities |  | $ | 32 |  |  | $ | 5 |
Foreign exchange forward contracts | Other current liabilities |  | $ | — |  |  | $ | 2 |
Derivative assets not designated as hedging instruments: |  |  |  |  |
Foreign exchange forward contracts | Other current assets |  | $ | 1 |  |  | $ | 1 |
Derivative liabilities not designated as hedging instruments: |  |  |  |  |
Foreign exchange forward contracts | Other current liabilities |  | $ | 2 |  |  | $ | 6 |
Schedule of Fair Value Derivative Instruments Statements of Earnings Location | The following table presents the impact and respective location of derivative activities on the Consolidated Statements of Earnings (Loss) (in millions):
|  | Twelve Months Ended December 31,
| Location | 2022 | 2021 | 2020
Derivative activity designated as hedging instruments: |  |  |  |
Natural gas cash flow hedges: |  |  |  |
Amount of (gain) loss reclassified from AOCI (as defined below) into earnings (a) | Cost of sales | $ | (52) |  | $ | (15) |  | $ | 5 |
Cross-currency swap net investment hedges: |  |  |  |
Amount of gain recognized in earnings on derivative amounts excluded from effectiveness testing | Interest expense, net | $ | (1) |  | $ | (5) |  | $ | (8) |
Derivative activity not designated as hedging instruments: |  |  |  |
Foreign currency: |  |  |  |
Amount of (gain) loss recognized in earnings (b) | Other expenses (income), net | $ | (29) |  | $ | (41) |  | $ | 41 |
Treasury interest rate lock: |  |  |  |
Amount of gain recognized in earnings | Other expenses (income), net | $ | (6) |  | $ | — |  | $ | — |
(a)Accumulated Other Comprehensive Earnings (Deficit) (“AOCI”) (b)(Gains)/losses related to foreign currency derivatives were substantially offset by net revaluation impacts on foreign currency denominated balance sheet exposures, which were also recorded in Other expenses (income), net. Please refer to the “Other Derivatives” section below for additional detail.The following table presents the impact of derivative activities on the Consolidated Statements of Comprehensive Earnings (Loss) (in millions):
|  | Amount of (Gain) Loss Recognized in Comprehensive Earnings (Loss)
|  | Twelve Months Ended December 31,
Hedging Type | Derivative Financial Instrument | 2022 | 2021
Net investment hedge | Cross-currency swaps | $ | (5) |  | $ | (12) |
Cash flow hedge | Natural gas forward swaps | $ | 40 |  | $ | (10) |
Cash flow hedge | Treasury interest rate lock | $ | (20) |  | $ | (7) |
Cash flow hedge | Foreign exchange forward contracts | $ | — |  | $ | 2 |

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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 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. + 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 + Details
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