Summary of Significant Accounting Policies (Tables)

3 Months Ended

Mar. 31, 2020

Summary of Significant Accounting Policies

Schedule of new accounting standards

	Three Months Ended March 31, 2019
(in millions)	As Reported		As Adjusted
Consolidated Statements of Income:
Net sales before shipping and handling costs	$	1,536	$	—
Less: shipping and handling costs		116		—
Net sales		1,420		1,536
Cost of sales		1,104		1,220
Gross profit	$	316	$	316

	Three Months Ended March 31, 2019
(in millions)	As Reported		As Adjusted
Net sales to unaffiliated customers:
North America	$	860	$	951
South America		218		228
Asia-Pacific		194		203
EMEA		148		154
Total	$	1,420	$	1,536