XML 67 R49.htm IDEA: XBRL DOCUMENT v3.23.1
HEDGES AND DERIVATIVE FINANCIAL INSTRUMENTS - Schedule of Effects of Derivative Instruments on Consolidated Condensed Statements of Income (Details) - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Derivative Instruments, Gain (Loss) [Line Items]    
Gain (Loss) Recognized in OCI (Effective Portion) $ (22) $ 11
Gain (Loss) Reclassified from OCI into Earnings (Effective Portion) (6) 83
Foreign exchange | Interest and sundry (income) expense    
Derivative Instruments, Gain (Loss) [Line Items]    
Gain (Loss) Recognized on Derivatives not Accounted for as Hedges 13 (16)
Cash flow hedges    
Derivative Instruments, Gain (Loss) [Line Items]    
Tax impact of cash flow hedges 5 19
Cash flow hedges | Commodity swaps/options    
Derivative Instruments, Gain (Loss) [Line Items]    
Gain (Loss) Recognized in OCI (Effective Portion) 0 39
Cash flow hedges | Commodity swaps/options | Cost of products sold    
Derivative Instruments, Gain (Loss) [Line Items]    
Gain (Loss) Reclassified from OCI into Earnings (Effective Portion) 0 18
Cash flow hedges | Foreign exchange    
Derivative Instruments, Gain (Loss) [Line Items]    
Gain (Loss) Recognized in OCI (Effective Portion) (20) (43)
Cash flow hedges | Foreign exchange | Cost of products sold    
Derivative Instruments, Gain (Loss) [Line Items]    
Gain (Loss) Reclassified from OCI into Earnings (Effective Portion) (8) (5)
Cash flow hedges | Foreign exchange | Net sales    
Derivative Instruments, Gain (Loss) [Line Items]    
Gain (Loss) Reclassified from OCI into Earnings (Effective Portion) 0 0
Cash flow hedges | Foreign exchange | Interest and sundry (income) expense    
Derivative Instruments, Gain (Loss) [Line Items]    
Gain (Loss) Reclassified from OCI into Earnings (Effective Portion) 9 29
Cash flow hedges | Cross-currency swaps    
Derivative Instruments, Gain (Loss) [Line Items]    
Gain (Loss) Recognized in OCI (Effective Portion) (1) 8
Cash flow hedges | Cross-currency swaps | Interest and sundry (income) expense    
Derivative Instruments, Gain (Loss) [Line Items]    
Gain (Loss) Reclassified from OCI into Earnings (Effective Portion) (7) 41
Cash flow hedges | Interest rate derivatives    
Derivative Instruments, Gain (Loss) [Line Items]    
Gain (Loss) Recognized in OCI (Effective Portion) (1) 23
Cash flow hedges | Interest rate derivatives | Interest expense    
Derivative Instruments, Gain (Loss) [Line Items]    
Gain (Loss) Reclassified from OCI into Earnings (Effective Portion) 0 0
Net Investment hedges    
Derivative Instruments, Gain (Loss) [Line Items]    
Tax impact of net investment hedges 0 3
Net Investment hedges | Foreign exchange    
Derivative Instruments, Gain (Loss) [Line Items]    
Gain (Loss) Recognized in OCI (Effective Portion) $ 0 $ (16)