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Derivative Financial Instruments (Tables)
 6 Months Ended
Jun. 30, 2020
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of Derivative Instruments, Notional Amounts and Fair Values
The notional amounts and fair values of derivative instruments in the Condensed Consolidated Statements of Financial Position were as follows:
  
Notional amounts (1)
Other assets
Accrued liabilities
  
June 30
2020

December 31
2019

June 30
2020

December 31
2019

June 30
2020

December 31
2019

Derivatives designated as hedging instruments:
 
 
 
 
 
 
Foreign exchange contracts

$3,233


$2,590


$7


$29


($165
)

($60
)
Commodity contracts
366

645

2

4

(119
)
(72
)
Derivatives not receiving hedge accounting treatment:
 
 
 
 
 
 
Foreign exchange contracts
399

285

7

1

(6
)
(6
)
Commodity contracts
796

1,644





(25
)
 
Total derivatives

$4,794


$5,164


$16


$34


($315
)

($138
)
Netting arrangements
 
 
(14
)
(20
)
14

20

Net recorded balance
 
 

$2


$14


($301
)

($118
)
(1) 
Notional amounts represent the gross contract/notional amount of the derivatives outstanding.
Schedule Of Derivative Instruments, Gains/(Losses)
Gains/(losses) associated with our hedging transactions and forward points recognized in Other comprehensive income are presented in the following table: 
 
Six months ended June 30
Three months ended June 30
  
2020

 
2019

2020

 
2019

Recognized in Other comprehensive income, net of taxes:
 
 
 
 
 
 
Foreign exchange contracts

($112
)
 

$31


$85

 

$9

Commodity contracts
(74
)
 
(48
)
4

 
(37
)
Reclassification out of Accumulated Other Comprehensive Income
Gains/(losses) associated with our hedging transactions and forward points reclassified from AOCI to earnings are presented in the following table:
 
Six months ended June 30
 
Three months ended June 30
 
2020

 
2019

 
2020

 
2019

Foreign exchange contracts
 
 
 
 
 
 
 
Revenues

($1
)
 

$6

 


 

$1

Costs and expenses
(6
)
 
(12
)
 

($5
)
 
(7
)
General and administrative
(5
)
 
9

 
(5
)
 
8

Commodity contracts
 
 
 
 
 
 
 
Costs and expenses
(3
)
 
1

 
(2
)
 

General and administrative expense
(1
)
 

 
(1
)
 
(1
)