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Derivative Instruments (Tables) | 3 Months Ended
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Mar. 31, 2020
Derivative Instruments |
Balance Sheet Classification of derivative instruments |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Fair Value of | ​ | Fair Value of
​ | ​ | Hedge Assets | ​ | Hedge Liabilities
​ | ​ | March 31, | ​ | December 31, | ​ | March 31, | ​ | March 31, | ​ | December 31, | ​ | March 31,
​ |  | 2020 |  | 2019 |  | 2019 |  | 2020 |  | 2019 |  | 2019
Derivatives designated as hedging instruments: | ​ | ​ |  | ​ | ​ |  | ​ | ​ |  | ​ | ​ |  | ​ | ​ |  | ​ | ​ |
Commodity forward contracts (a) | ​ | $ | — | ​ | $ | 1 | ​ | $ | 3 | ​ | $ | 2 | ​ | $ | — | ​ | $ | —
Interest rate swaps - fair value hedges (b) | ​ | ​ | 11 | ​ | ​ | 8 | ​ | ​ | 18 | ​ | ​ | ​ | ​ | ​ | 2 | ​ | ​ | ​
Cash flow hedges of foreign exchange risk (c) | ​ | ​ | 66 | ​ | ​ | 25 | ​ | ​ | 18 | ​ | ​ | 4 | ​ | ​ | 21 | ​ | ​ | 4
Interest rate swaps - cash flow hedges (d) | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | 2 | ​ | ​ | 1 | ​ | ​ | 1
Net investment hedges (e) | ​ | ​ | 5 | ​ | ​ | 2 | ​ | ​ | 6 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | 4
Total derivatives accounted for as hedges | ​ | $ | 82 | ​ | $ | 36 | ​ | $ | 45 | ​ | $ | 8 | ​ | $ | 24 | ​ | $ | 9
Derivatives not designated as hedges: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Foreign exchange derivative contracts (f) | ​ | ​ | 10 | ​ | ​ | 2 | ​ | ​ | 2 | ​ | ​ | 5 | ​ | ​ | — | ​ | ​ | 1
Total derivatives | ​ | $ | 92 | ​ | $ | 38 | ​ | $ | 47 | ​ | $ | 13 | ​ | $ | 24 | ​ | $ | 10
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Current | ​ | $ | 30 | ​ | $ | 8 | ​ | $ | 23 | ​ | $ | 8 | ​ | $ | — | ​ | $ | 3
Noncurrent | ​ | ​ | 62 | ​ | ​ | 30 | ​ | ​ | 24 | ​ | ​ | 5 | ​ | ​ | 24 | ​ | ​ | 7
Total derivatives | ​ | $ | 92 | ​ | $ | 38 | ​ | $ | 47 | ​ | $ | 13 | ​ | $ | 24 | ​ | $ | 10
(a) The notional amounts of the commodity forward contracts were $12 million, $13 million and $20 million at March 31, 2020, December 31, 2019 and March 31, 2019, respectively. The maximum maturity dates were in 2020 for all three periods. (b) The notional amounts of the interest rate swaps designated as fair value hedges were €725 million at March 31, 2020, December 31, 2019 and March 31, 2019, respectively. The maximum maturity dates were in 2025 for March 31, 2020 and December 31, 2019 and 2024 for March 31, 2019. (c) The notional amounts of the cash flow hedges of foreign exchange risk were $1.424 billion at March 31, 2020 and December 31, 2019 and $797 million at March 31, 2019. The maximum maturity dates were in 2023 for all three periods. (d) The notional amounts of the interest rate swaps designated as cash flow hedges were $105 million at March 31, 2020 and December 31, 2019 and $180 million at March 31, 2019, respectively. Maximum maturity dates were in 2020 for March 31, 2020 and December 31, 2019 and 2021 for March 31, 2019. (e) The notional amounts of the net investment hedges were €160 million at March 31, 2020, December 31, 2019 and March 31, 2019. The maximum maturity dates were in 2020 for all three periods. (f) The notional amounts of the foreign exchange derivative contracts were $306 million, $283 million and $625 million at March 31, 2020, December 31, 2019 and March 31, 2019, respectively. The maximum maturity dates were in 2021, 2019, and 2019 for March 31, 2020, December 31, 2019 and March 31, 2019, respectively. ​ ​ ​ ​ ​ ​ ​ ​
Effects of derivative instruments on the results of operations |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Gain (Loss) Recognized in OCI (Effective Portion) | ​ | ​ | Gain (Loss) Reclassified from Accumulated OCI into Income (Effective Portion) (1) | ​
​ | ​ | Three months ended March 31, | ​ | ​ | Three months ended March 31, | ​
Derivatives designated as hedging instruments: |  | 2020 | ​ | 2019 | ​ | ​ | 2020 | ​ | 2019 | ​
Cash Flow Hedges |  | ​ | ​ |  | ​ | ​ |  |  | ​ | ​ |  | ​ | ​ |
Commodity forward contracts (a) | ​ | $ | (3) | ​ | $ | 2 | ​ | ​ | $ | — | ​ | $ | — | ​
Cash flow hedges of foreign exchange risk (b) | ​ | ​ | (66) | ​ | ​ | 7 | ​ | ​ | ​ | 60 | ​ | ​ | (10) | ​
Cash flow hedges of interest rate risk (c) | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Net Investment Hedges | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Net Investment Hedges | ​ | ​ | (4) | ​ | ​ | 5 | ​ | ​ | ​ | 2 | ​ | ​ | (2) | ​
​ | ​ | $ | (73) | ​ | $ | 14 | ​ | ​ | $ | 62 | ​ | $ | (12) | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Amount of Gain (Loss) Recognized in Other income (expense), net | ​ | ​ | ​ | ​
​ | ​ | Three months ended March 31, | ​ | ​ | ​ | ​
Derivatives not designated as hedges: |  | 2020 | ​ | 2019 | ​ | ​ | ​ | ​ | ​ | ​
Foreign exchange derivative contracts |  | $ | 12 |  | $ | 6 |  | ​ | ​ | ​ | ​ | ​ | ​ |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
(1) Gains and losses reclassified from accumulated OCI and recognized in income are recorded to (a) cost of goods sold, (b) other expense, net or (c) interest expense, net.

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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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