Derivative Financial Instruments (Tables)

9 Months Ended

Sep. 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
	September 30 2020	December 31 2019	September 30 2020	December 31 2019	September 30 2020	December 31 2019
Derivatives designated as hedging instruments:
Foreign exchange contracts	$3,022	$2,590	$15	$29	($94)	($60)
Commodity contracts	354	645	3	4	(81)	(72)
Derivatives not receiving hedge accounting treatment:
Foreign exchange contracts	641	285	16	1	(9)	(6)
Commodity contracts	927	1,644			(16)
Total derivatives	$4,944	$5,164	$34	$34	($200)	($138)
Netting arrangements			(17)	(20)	17	20
Net recorded balance			$17	$14	($183)	($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: 

	Nine months ended September 30		Three months ended September 30
	2020	2019	2020	2019
Recognized in Other comprehensive income, net of taxes:
Foreign exchange contracts	($58)	($6)	$54	($34)
Commodity contracts	(49)	(78)	25	(30)

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:

	Nine months ended September 30		Three months ended September 30
	2020	2019	2020	2019
Foreign exchange contracts
Revenues	($2)		($1)	($6)
Costs and expenses	(12)	(21)	(6)	(9)
General and administrative	(5)	(9)		(18)
Commodity contracts
Costs and expenses	(6)	1	(3)
General and administrative expense	(1)	1		1