Derivative Financial Instruments (Tables)

9 Months Ended

Sep. 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
	September 30 2022	December 31 2021	September 30 2022	December 31 2021	September 30 2022	December 31 2021
Derivatives designated as hedging instruments:
Foreign exchange contracts	$2,639	$2,630	$5	$30	($200)	($52)
Commodity contracts	476	500	72	88	(20)	(18)
Derivatives not receiving hedge accounting treatment:
Foreign exchange contracts	616	361	26	2	(58)	(3)
Commodity contracts	518	760	6	8	(2)	(7)
Total derivatives	$4,249	$4,251	$109	$128	($280)	($80)
Netting arrangements			(38)	(30)	38	30
Net recorded balance			$71	$98	($242)	($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:

	Nine months ended September 30		Three months ended September 30
	2022	2021	2022	2021
Recognized in Other comprehensive income/(loss), net of taxes:
Foreign exchange contracts	($186)	($49)	($82)	($43)
Commodity contracts	29	113	(1)	42

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
	2022	2021	2022	2021
Foreign exchange contracts
Revenues	$1		$1
Costs and expenses	9	$8	(1)	$5
General and administrative expense	(14)	9	(7)
Commodity contracts
Costs and expenses	18	(13)	11
General and administrative expense	6	4	4	1