DERIVATIVE FINANCIAL INSTRUMENTS (Tables)

3 Months Ended

Mar. 31, 2020

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Derivative Assets and Liabilities at Fair Value

The following table presents the fair value of derivatives and hedging instruments and the respective location on the Consolidated Balance Sheets (in millions):

		Fair Value at
	Location	March 31, 2020		December 31, 2019
Derivative assets designated as hedging instruments:
Net investment hedges:
Cross-currency swaps	Other current assets	$	13	$	12
Cross-currency swaps	Other non-current assets	$	38	$	1
Derivative liabilities designated as hedging instruments:
Net investment hedges:
Cross-currency swaps	Other liabilities	$	—	$	4
Cash flow hedges:
Natural gas forward swaps	Current liabilities	$	3	$	3
Treasury interest rate lock	Other liabilities	$	1	$	—
Derivative assets not designated as hedging instruments:
Foreign exchange forward contracts	Other current assets	$	12	$	9
Derivative liabilities not designated as hedging instruments:
Foreign exchange forward contracts	Current liabilities	$	6	$	1

Schedule of Fair Value Derivative Instruments Statements of Earnings Location

The following table presents the impact and respective location of derivative activities on the Consolidated Statements of Earnings (Loss) (in millions):

		Three Months Ended March 31,
	Location	2020		2019
Derivative activity designated as hedging instruments:
Natural gas cash flow hedges:
Amount of loss reclassified from AOCI (as defined below) into earnings	Cost of sales	$	2	$	—
Cross-currency swap net investment hedges:
Amount of gain recognized in earnings on derivative amounts excluded from effectiveness testing	Interest expense, net	$	(3)	$	(3)
Derivative activity not designated as hedging instruments:
Foreign currency:
Amount of gain recognized in earnings (a)	Other expenses, net	$	(12)	$	(19)

(a)Gains related to foreign currency derivatives were substantially offset by net revaluation impacts on foreign currency denominated balance sheet exposures, which were also recorded in Other expenses, net. Please refer to the "Other Derivatives" section below for additional detail.

Consolidated Statements of Comprehensive Earnings (Loss) Activity

The following table presents the impact of derivative activities on the Consolidated Statements of Comprehensive Earnings (Loss) (in millions):

		Amount of (Gain) Loss Recognized in Comprehensive Earnings (Loss)
		Three Months Ended March 31,
Hedging Type	Derivative Financial Instrument	2020		2019
Net investment hedge	Cross-currency swaps	$	(42)	$	(13)
Cash flow hedge	Natural gas forward swaps	$	—	$	2
Cash flow hedge	Treasury interest rate lock	$	1	$	—