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Derivative Instruments (Tables) | 12 Months Ended
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Dec. 31, 2021
Derivative Instruments |
Balance Sheet Classification of derivative instruments | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | Fair Value of | ​
​ | ​ | ​ | Hedge Assets | ​ | Hedge Liabilities | ​
​ |  | ​ | 2021 | ​ | 2020 | ​ | 2021 | ​ | 2020 | ​
Derivatives designated as hedging instruments: |  |  | ​ | ​ |  | ​ | ​ |  | ​ | ​ |  | ​ | ​ |
Interest rate swaps - fair value hedges (a) | ​ | ​ | $ | 4 | ​ | $ | 17 | ​ | $ | 2 | ​ | $ | — | ​
Cash flow hedges of foreign exchange risk (b) | ​ | ​ | ​ | 2 | ​ | ​ | 6 | ​ | ​ | 23 | ​ | ​ | 115 | ​
Fair value hedges of foreign exchange risk (c) | ​ | ​ | ​ | 9 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Net investment hedges (d) | ​ | ​ | ​ | 3 | ​ | ​ | 1 | ​ | ​ | 17 | ​ | ​ | 52 | ​
Total derivatives accounted for as hedges | ​ | ​ | $ | 18 | ​ | $ | 24 | ​ | $ | 42 | ​ | $ | 167 | ​
Derivatives not designated as hedges: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Foreign exchange derivative contracts (e) | ​ | ​ | ​ | 1 | ​ | ​ | 1 | ​ | ​ | 2 | ​ | ​ | 3 | ​
Total derivatives | ​ | ​ | $ | 19 | ​ | $ | 25 | ​ | $ | 44 | ​ | $ | 170 | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Current | ​ | ​ | $ | 14 | ​ | $ | 13 | ​ | $ | 2 | ​ | $ | 15 | ​
Noncurrent | ​ | ​ | ​ | 5 | ​ | ​ | 12 | ​ | ​ | 42 | ​ | ​ | 155 | ​
Total derivatives | ​ | ​ | $ | 19 | ​ | $ | 25 | ​ | $ | 44 | ​ | $ | 170 | ​
​
(a) | The notional amounts of the interest rate swaps designated as fair value hedges were €725 million at December 31, 2021 and December 31, 2020. The maximum maturity dates were in 2024 at December 31, 2021 and December 31, 2020.
(b) | The notional amounts of the cash flow hedges of foreign exchange risk were $422 million and $978 million at December 31, 2021 and December 31, 2020, respectively. The maximum maturity dates were in 2023 at December 31, 2021 and December 31, 2020.
(c) | The notional amounts of the fair value hedges of foreign exchange risk were $400 million at December 31, 2021. The maximum maturity date was 2030 at December 31, 2021.
(d) | The notional amounts of the net investment hedges were €311 million at December 31, 2021 and December 31, 2020, and maximum maturity dates were 2027 at December 31, 2021 and at December 31, 2020.
(e) | The notional amounts of the foreign exchange derivative contracts were $202 million and $247 million and maximum maturity dates were 2022 and 2021 at December 31, 2021 and December 31, 2020, 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)
Derivatives designated as hedging instruments: |  | 2021 | ​ | 2020 | ​ | 2019 | ​ | 2021 | ​ | 2020 | ​ | 2019
Cash Flow Hedges |  | ​ | ​ |  | ​ | ​ |  | ​ | ​ |  | ​ | ​ |  | ​ | ​ |  | ​ | ​
Cash flow hedges of foreign exchange risk (a) | ​ | $ | 75 | ​ | $ | (99) | ​ | $ | 28 | ​ | $ | 77 | ​ | $ | (115) | ​ | $ | (30)
Cash flow hedges of interest rate risk (b) | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | (1) | ​ | ​ | ​ | ​ | ​ | (1) | ​ | ​ | ​
Net Investment Hedges | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Net Investment Hedges | ​ | ​ | 40 | ​ | ​ | (54) | ​ | ​ | 10 | ​ | ​ | 3 | ​ | ​ | 4 | ​ | ​ | (7)
​ | ​ | $ | 115 | ​ | $ | (153) | ​ | $ | 37 | ​ | $ | 80 | ​ | $ | (112) | ​ | $ | (37)
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Amount of Gain (Loss) Recognized in Other income (expense), net | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Derivatives not designated as hedges: |  | 2021 | ​ | 2020 | ​ | 2019 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Foreign exchange derivative contracts |  | $ | 4 |  | $ | 9 |  | $ | 10 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
(1) Gains and losses reclassified from accumulated OCI and recognized in income are recorded to (a) other expense, net or (b) interest expense, net.

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