Derivative Financial Instruments (Tables)

6 Months Ended

Jun. 30, 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
	June 30 2021	December 31 2020	June 30 2021	December 31 2020	June 30 2021	December 31 2020
Derivatives designated as hedging instruments:
Foreign exchange contracts	$2,833	$2,594	$60	$81	($27)	($24)
Commodity contracts	474	404	63	4	(2)	(43)
Derivatives not receiving hedge accounting treatment:
Foreign exchange contracts	540	769	8	22	(4)	(16)
Commodity contracts	975	904	3		(26)	(17)
Total derivatives	$4,822	$4,671	$134	$107	($59)	($100)
Netting arrangements			(48)	(31)	48	31
Net recorded balance			$86	$76	($11)	($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:

	Six months ended June 30		Three months ended June 30
	2021	2020	2021	2020
Recognized in Other comprehensive income, net of taxes:
Foreign exchange contracts	($6)	($112)	$13	$85
Commodity contracts	71	(74)	41	4

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
	2021	2020	2021	2020
Foreign exchange contracts
Revenues		($1)
Costs and expenses	$3	(6)	$3	($5)
General and administrative	9	(5)	6	(5)
Commodity contracts
Costs and expenses	(13)	(3)	(10)	(2)
General and administrative expense	3	(1)	1	(1)