FINANCIAL INSTRUMENTS (Tables)

12 Months Ended

Dec. 31, 2023

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Assets and Liabilities Measured at Fair Value on a Recurring Basis

Our assets and liabilities measured at fair value on a recurring basis consist of derivative instruments and investment securities.

	2023								2022
	Level 1		Level 2		Level 3		Net Balance		Level 1		Level 2		Level 3		Net Balance
Assets
Derivatives	$	—	$	34	$	—	$	34	$	—	$	18	$	—	$	18
Investment securities	1,040		—		2		1,042		748		—		—		748
Total assets	1,040		34		2		1,076		748		18		—		766
Liabilities
Derivatives	—		(76)		—		(76)		—		(86)		—		(86)
Total liabilities	$	—	$	(76)	$	—	$	(76)	$	—	$	(86)	$	—	$	(86)

Schedule of Investment Securities Classified as Available for Sale

	2023								2022
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Estimated Fair Value		Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Estimated Fair Value
Investment securities (1)
Non-U.S. debt securities (2)	$	66	$	1	$	—	$	67	$	—	$	—	$	—	$	—
Equity securities	527		451		(3)		975		557		191		—		748
Total	$	593	$	452	$	(3)	$	1,042	$	557	$	191	$	—	$	748

(1)Gains (losses) recorded to earnings related to these securities were $405 million, $(271) million and $(843) million for the years ended December 31, 2023, 2022, and 2021, respectively.

(2)As of December 31, 2023, our non-U.S. debt securities are classified as available for sale securities and mature within two years.

Schedule of Derivatives

The table below summarizes the fair value of all derivatives, including hedging instruments and embedded derivatives.

	2023				2022
	Assets		(Liabilities)		Assets		(Liabilities)
Derivatives accounted for as hedges
Currency exchange contracts	$	10	$	(3)	$	1	$	—
Interest rate swap contracts	—		(52)		—		(69)
Derivatives not accounted for as hedges
Currency exchange contracts and other	24		(21)		17		(17)
Total derivatives	$	34	$	(76)	$	18	$	(86)