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Derivatives (Tables) | 6 Months Ended
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Jun. 30, 2020
Derivative Instruments and Hedging Activities Disclosure [Abstract] |
Schedule of Fair Value of Derivative Financial Instruments | The following table presents the fair value of derivative financial instruments at the dates indicated (in millions):
| June 30, 2020 |  |  |  | December 31, 2019 |  |
| Fair Value of Derivatives |  |  |  | Fair Value of Derivatives |  |
| Asset (a) |  | Liability (a) |  | Asset (a) |  | Liability (a)
Derivatives designated as effective hedges: |  |  |  |  |  |  |
Cash flow hedges: |  |  |  |  |  |  |
Foreign currency contracts | $ | 8 |  |  | $ | — |  |  | $ | 1 |  |  | $ | 13 |
Fair value hedges: |  |  |  |  |  |  |
Interest rate swaps | 8 |  |  | — |  |  | 2 |  |  | 1 |
Net investment hedges: |  |  |  |  |  |  |
Cross-currency swaps | 10 |  |  | 6 |  |  | — |  |  | — |
Derivatives not designated as effective hedges: |  |  |  |  |  |  |
Foreign currency contracts | 13 |  |  | 11 |  |  | 10 |  |  | 4 |
Total | $ | 39 |  |  | $ | 17 |  |  | $ | 13 |  |  | $ | 18 |
(a) Consolidated balance sheet location: |  |  |  |  |  |  |
Asset: Prepaid expenses and other, and other noncurrent assets |  |  |  |  |  |  |
Liability: Other accrued liabilities, and current and noncurrent liabilities |  |  |  |  |  |  |
Schedule of Pretax Effects of Derivative Financial Instruments Designated or Previously Designated as Effective Hedges | The following tables present gain and loss activity (on a pretax basis) for the three months ended June 30, 2020 and 2019 related to derivative financial instruments designated or previously designated, as effective hedges (in millions):
|  |  | Three Months Ended June 30, 2020 |  |  |  | Three Months Ended June 30, 2019 |  |
|  |  | Gain/(Loss) |  |  |  | Gain/(Loss) |  |
| Location of gain/(loss) recognized in income |  | Recognized in OCI (effective portion) |  | Reclassified from AOCL to Income |  | Recognized in OCI (effective portion) |  | Reclassified from AOCL to Income
Interest rate swaps | Interest expense, net |  | $ | — |  |  | $ | (1) |  |  | $ | — |  |  | $ | (1) |
Foreign currency contracts | Net sales and cost of products sold |  | (5) |  |  | 1 |  |  | 1 |  |  | 2 |
Commodity contracts | Cost of products sold |  | — |  |  | — |  |  | 1 |  |  | — |
Cross-currency swaps | Other (income) expense, net |  | (17) |  |  | — |  |  | — |  |  | — |
Total |  |  | $ | (22) |  |  | $ | — |  |  | $ | 2 |  |  | $ | 1 |
|  |  | Six Months Ended June 30, 2020 |  |  |  | Six Months Ended June 30, 2019 |  |
|  |  | Gain/(Loss) |  |  |  | Gain/(Loss) |  |
| Location of gain/(loss) recognized in income |  | Recognized in OCI (effective portion) |  | Reclassified from AOCL to Income |  | Recognized in OCI (effective portion) |  | Reclassified from AOCL to Income
Interest rate swaps | Interest expense, net |  | $ | — |  |  | $ | (3) |  |  | $ | — |  |  | $ | (3) |
Foreign currency contracts | Net sales and cost of products sold |  | 30 |  |  | 2 |  |  | (5) |  |  | 8 |
Commodity contracts | Cost of products sold |  | — |  |  | — |  |  | — |  |  | — |
Cross-currency swaps | Other (income) expense, net |  | 4 |  |  | — |  |  | — |  |  | — |
Total |  |  | $ | 34 |  |  | $ | (1) |  |  | $ | (5) |  |  | $ | 5 |

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- Definition Tabular disclosure of gain (loss) on derivative and nonderivative instruments designated and qualifying as cash flow hedge recorded in accumulated other comprehensive income (AOCI) and reclassified into earnings. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4C -Subparagraph (c) -URI http://asc.fasb.org/extlink&oid=109980867&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 http://asc.fasb.org/extlink&oid=109980867&loc=SL5624163-113959 + Details
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