Derivative Financial Instruments (Tables)

6 Months Ended

Jun. 30, 2022

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 2022	December 31 2021	June 30 2022	December 31 2021	June 30 2022	December 31 2021
Derivatives designated as hedging instruments:
Foreign exchange contracts	$2,550	$2,630	$14	$30	($112)	($52)
Commodity contracts	388	500	75	88	(9)	(18)
Derivatives not receiving hedge accounting treatment:
Foreign exchange contracts	688	361	12	2	(50)	(3)
Commodity contracts	670	760	9	8	(2)	(7)
Total derivatives	$4,296	$4,251	$110	$128	($173)	($80)
Netting arrangements			(31)	(30)	31	30
Net recorded balance			$79	$98	($142)	($50)

(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
	2022	2021	2022	2021
Recognized in Other comprehensive income, net of taxes:
Foreign exchange contracts	($104)	($6)	($96)	$13
Commodity contracts	30	71	(72)	41

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
	2022	2021	2022	2021
Foreign exchange contracts
Costs and expenses	$10	$3	$5	$3
General and administrative expense	(7)	9	(6)	6
Commodity contracts
Costs and expenses	7	(13)	6	(10)
General and administrative expense	2	3	1	1