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HEDGES AND DERIVATIVE FINANCIAL INSTRUMENTS - Schedule of Effects of Derivative Instruments on Consolidated Condensed Statements of Income (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended
--- | --- | ---
Jun. 30, 2023 | Jun. 30, 2022 | Jun. 30, 2023 | Jun. 30, 2022
Derivative Instruments, Gain (Loss) [Line Items] |  |  |  |
Gain (Loss) Recognized in OCI (Effective Portion) | $ (83) | $ 202 | $ (105) | $ 214
Gain (Loss) Reclassified from OCI into Earnings (Effective Portion) | (8) | 148 | (14) | 231
Foreign exchange |  |  |  |
Derivative Instruments, Gain (Loss) [Line Items] |  |  |  |
Gain (Loss) Recognized on Derivatives not Accounted for as Hedges |  |  | 27 | (5)
Foreign exchange | Interest and sundry (income) expense |  |  |  |
Derivative Instruments, Gain (Loss) [Line Items] |  |  |  |
Gain (Loss) Recognized on Derivatives not Accounted for as Hedges | 14 | 11 |  |
Cash flow hedges |  |  |  |
Derivative Instruments, Gain (Loss) [Line Items] |  |  |  |
Tax impact of cash flow hedges | 18 | (18) | 23 | 1
Cash flow hedges | Commodity swaps/options |  |  |  |
Derivative Instruments, Gain (Loss) [Line Items] |  |  |  |
Gain (Loss) Recognized in OCI (Effective Portion) | (22) | (37) | (22) | 2
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) | (5) | 16 | (5) | 34
Cash flow hedges | Foreign exchange |  |  |  |
Derivative Instruments, Gain (Loss) [Line Items] |  |  |  |
Gain (Loss) Recognized in OCI (Effective Portion) | (43) | 123 | (63) | 80
Cash flow hedges | Foreign exchange | Cost of products sold |  |  |  |
Derivative Instruments, Gain (Loss) [Line Items] |  |  |  |
Gain (Loss) Reclassified from OCI into Earnings (Effective Portion) | (7) | (11) | (15) | (16)
Cash flow hedges | Foreign exchange | Net sales |  |  |  |
Derivative Instruments, Gain (Loss) [Line Items] |  |  |  |
Gain (Loss) Reclassified from OCI into Earnings (Effective Portion) | (1) | 1 | (1) | 1
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 | 67 | 18 | 96
Cash flow hedges | Cross-currency swaps |  |  |  |
Derivative Instruments, Gain (Loss) [Line Items] |  |  |  |
Gain (Loss) Recognized in OCI (Effective Portion) | (19) | 89 | (20) | 98
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) | (5) | 75 | (12) | 116
Cash flow hedges | Interest rate derivatives |  |  |  |
Derivative Instruments, Gain (Loss) [Line Items] |  |  |  |
Gain (Loss) Recognized in OCI (Effective Portion) | 1 | 29 | 0 | 52
Cash flow hedges | Interest rate derivatives | Interest expense |  |  |  |
Derivative Instruments, Gain (Loss) [Line Items] |  |  |  |
Gain (Loss) Reclassified from OCI into Earnings (Effective Portion) | 1 | 0 |  |
Net Investment hedges |  |  |  |
Derivative Instruments, Gain (Loss) [Line Items] |  |  |  |
Tax impact of net investment hedges | 0 | 1 | 0 | 4
Net Investment hedges | Foreign exchange |  |  |  |
Derivative Instruments, Gain (Loss) [Line Items] |  |  |  |
Gain (Loss) Recognized in OCI (Effective Portion) | $ 0 | $ (2) | $ 0 | $ (18)

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