Derivative Financial Instruments (Tables)

3 Months Ended

Mar. 31, 2021

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
	March 31 2021	December 31 2020	March 31 2021	December 31 2020	March 31 2021	December 31 2020
Derivatives designated as hedging instruments:
Foreign exchange contracts	$2,800	$2,594	$59	$81	($39)	($24)
Commodity contracts	416	404	16	4	(7)	(43)
Derivatives not receiving hedge accounting treatment:
Foreign exchange contracts	832	769	22	22	(6)	(16)
Commodity contracts	889	904	1		(23)	(17)
Total derivatives	$4,937	$4,671	$98	$107	($75)	($100)
Netting arrangements			(37)	(31)	37	31
Net recorded balance			$61	$76	($38)	($69)

(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: 

	Three months ended March 31
	2021	2020
Recognized in Other comprehensive income, net of taxes:
Foreign exchange contracts	($19)	($197)
Commodity contracts	30	(78)

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:

	Three months ended March 31
	2021	2020
Foreign exchange contracts
Revenues		($1)
Costs and expenses		(1)
General and administrative	$3
Commodity contracts
Costs and expenses	(3)	(1)
General and administrative expense	2