XML 55 R38.htm IDEA: XBRL DOCUMENT
v3.22.0.1

Derivatives and Foreign Currency Operations (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2021
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 December 31, (in millions):
|  |  | 2021 |  | 2020
| Balance Sheet Location |  | Assets (Liabilities)
Derivatives designated as effective hedges: |  |  |  |  |
Cash Flow Hedges: |  |  |  |  |
Foreign currency contracts | Prepaid expenses and other current assets |  | $ | 12 |  |  | $ | 1 |
Foreign currency contracts | Other accrued liabilities |  | (2) |  |  | (19) |
Fair Value Hedges: |  |  |  |  |
Interest rate swaps | Other assets |  | 3 |  |  | 7 |
Net Investment Hedges: |  |  |  |  |
Cross-currency swaps | Prepaid expenses and other current assets |  | 18 |  |  | 10 |
Cross-currency swaps | Other noncurrent liabilities |  | (41) |  |  | (102) |
Derivatives not designated as effective hedges: |  |  |  |  |
Foreign currency contracts | Prepaid expenses and other current assets |  | 7 |  |  | 10 |
Foreign currency contracts | Other accrued liabilities |  | (14) |  |  | (17) |
Total |  |  | $ | (17) |  |  | $ | (110) |
Schedule of Pretax Effects of Derivative Financial Instruments Designated or Previously Designated as Effective Hedges | The following table presents pre-tax gain and (loss) activity for 2021, 2020 and 2019 related to derivative financial instruments designated as effective hedges:
| 2021 |  | 2020 |  | 2019
| Gain/(Loss) |  | Gain/(Loss) |  | Gain/(Loss)
(in millions) | Recognized in OCL (1) |  | Reclassified from AOCL to Income |  | Recognized in OCL (1) |  | Reclassified from AOCL to Income |  | Recognized in OCL (1) |  | Reclassified from AOCL to Income
Interest rate swaps (2) | $ | — |  |  | $ | (6) |  |  | $ | — |  |  | $ | (7) |  |  | $ | — |  |  | $ | (8) |
Foreign currency contracts (3) | 14 |  |  | (17) |  |  | 4 |  |  | 13 |  |  | (16) |  |  | 15 |
Cross-currency swaps (4) | 69 |  |  | — |  |  | (92) |  |  | — |  |  | — |  |  | — |
Total | $ | 83 |  |  | $ | (23) |  |  | $ | (88) |  |  | $ | 6 |  |  | $ | (16) |  |  | $ | 7 |
(1)Represents effective portion recognized in Other Comprehensive Loss (“OCL”). (2)Portion reclassified from AOCL to income recognized in interest expense, net. (3)Portion reclassified from AOCL to income recognized in net sales and cost of products sold. (4)Portion reclassified from AOCL to income recognized in other (income) expense, net.

X
- References No definition available. + Details
Name: | us-gaap_DerivativeInstrumentsAndHedgingActivitiesDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- 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=125515794&loc=SL5624171-113959 + Details
Name: | us-gaap_ScheduleOfCashFlowHedgesIncludedInAccumulatedOtherComprehensiveIncomeLossTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- 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=125515794&loc=SL5624163-113959 + Details
Name: | us-gaap_ScheduleOfDerivativeInstrumentsInStatementOfFinancialPositionFairValueTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration