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Derivatives and Foreign Currency Operations (Tables)
 12 Months Ended
Dec. 31, 2024
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):
 20242023
Balance Sheet LocationAssets (Liabilities)
Derivatives designated as effective hedges:
Cash Flow Hedges
Foreign currency contractsPrepaid expenses and other current assets$9 $1 
Foreign currency contractsOther accrued liabilities(1)(13)
Fair Value Hedges
Interest rate swapsOther accrued liabilities(7)(15)
Interest rate swapsOther noncurrent liabilities(23)(4)
Net Investment Hedges
Cross-currency swapsPrepaid expenses and other current assets30 22 
Cross-currency swapsOther assets38 15 
Cross-currency swapsOther noncurrent liabilities(41)(119)
Derivatives not designated as effective hedges:
Foreign currency contractsPrepaid expenses and other current assets21 7 
Foreign currency contractsOther accrued liabilities(4)(14)
Total$22 $(120)
Schedule of Pretax Effects of Derivative Financial Instruments Designated or Previously Designated as Effective Hedges
The following table presents pretax gain and (loss) activity for 2024, 2023 and 2022 related to derivative financial instruments designated as effective hedges:
 202420232022
 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)
$— $(8)$— $(5)$— $(6)
Foreign currency contracts (3)
19 (5)(21)— 24 27 
Cross-currency swaps (4)
133 — (80)— 21 — 
Total$152 $(13)$(101)$(5)$45 $21 

(1)Represents effective portion recognized in Other Comprehensive Loss (“OCL”).
(2)Portion reclassified from AOCL to income recognized in interest expense, net and in loss on extinguishment of debt.
(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.