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Derivative and Other Financial Instruments (Tables)
 3 Months Ended
Mar. 31, 2023
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of Cash Flow Hedges Included in Accumulated Other Comprehensive Income (Loss)
The following tables set forth financial information about the impact on other comprehensive income ("OCI"), accumulated other comprehensive income ("AOCI") and earnings from changes in the fair value of derivative instruments.
Amount of gain/(loss) recognized in OCI
Three Months Ended March 31,
Derivatives in cash flow hedges20232022
Foreign exchange$2 $(5)
Commodities1 50 
$3 $45 
Amount of gain/(loss) reclassified from AOCI into income
Three Months Ended March 31,
Derivatives in cash flow hedges20232022Affected line items in the Statement of Operations
Foreign exchange$— $(5)Net sales
Commodities(2)$(11)Net sales
Foreign exchange1 (1)Cost of products sold, excluding depreciation and amortization
Commodities(3)26 Cost of products sold, excluding depreciation and amortization
(4)9 Income before taxes and equity in net earnings of affiliates
1 (3)Provision for income taxes
Total Reclassified(3)6 Net income
Schedule of Impact on Earnings from Derivatives Not Designated as Hedging Instruments
The following table sets forth the impact on earnings from derivatives not designated as hedges.

Pre-tax amounts of gain/(loss) recognized in income
Three Months Ended March 31,
Derivatives not designated as hedges20232022Affected line item in the Statement of Operations
Foreign exchange$— $(4)Net sales
Foreign exchange(1)1 Cost of products sold, excluding depreciation and amortization
Foreign exchange4 (10)Foreign exchange
$3 $(13)
Schedule of Derivative Instruments Included in Earnings
The following tables set forth the impact on AOCI from changes in the fair value of derivative instruments designated as net investment hedges.
Amount of gain / (loss) recognized in AOCI
Three Months ended March 31,
Derivatives designated as net investment hedges20232022
Foreign exchange$(5)$2 
Fair Value of Outstanding Derivative Instruments in the Consolidated Balance Sheets The following table sets forth the Company's financial assets and liabilities that were accounted for at fair value on a recurring basis as of March 31, 2023 and December 31, 2022, respectively. The fair values of these financial instruments were reported under Level 2 of the fair value hierarchy.
Balance Sheet classificationMarch 31, 2023December 31, 2022Balance Sheet classificationMarch 31, 2023December 31, 2022
Derivatives designated as hedging instruments
Foreign exchange contracts cash flowPrepaid expenses and other current assets$3 $3 Accrued liabilities$1 $2 
Other non-current assets— 1 Other non-current liabilities— — 
Foreign exchange contracts fair valuePrepaid expenses and other current assets2 4 Accrued liabilities5 4 
Commodities contracts cash flowPrepaid expenses and other current assets14 11 Accrued liabilities24 27 
Other non-current assets1 — Other non-current liabilities— — 
Net investment hedgeOther non-current assets83 90 Other non-current liabilities— — 
$103 $109 $30 $33 
Derivatives not designated as hedging instruments
Foreign exchange contractsPrepaid expenses and other current assets$3 $8 Accrued liabilities$1 $2 
Total derivatives$106 $117 $31 $35 
Schedule of Derivative Instruments Fair Value Hedge Carrying Amount
Carrying amount of the hedged assets / liabilities
March 31,
2023		December 31,
2022
Line item in the Balance Sheet in which the hedged item is included
Cash and cash equivalents$26 $22 
Receivables, net24 16 
Accounts payable195 111 
Schedule of Offsetting Derivative Assets and Liabilities In the table below, the aggregate fair values of the Company's derivative assets and liabilities are presented on both a gross and net basis, where appropriate.
Gross amounts recognized in the Balance SheetGross amounts not offset in the Balance SheetNet amount
Balance at March 31, 2023
Derivative assets$106$27$79
Derivative liabilities31274
Balance at December 31, 2022
Derivative assets11713104
Derivative liabilities351322
Notional Values of Outstanding Derivative Instruments in the Consolidated Balance Sheet
The aggregate U.S. dollar-equivalent notional values of outstanding derivative instruments in the Consolidated Balance Sheets at March 31, 2023 and December 31, 2022 were:

March 31, 2023December 31, 2022
Derivatives designated as cash flow hedges:
Foreign exchange$84 $287 
Commodities221 230 
Derivatives designated as fair value hedges:
Foreign exchange313 201 
Derivatives designated as net investment hedges:
Foreign exchange875 875 
Derivatives not designated as hedges:
Foreign exchange227 512