Financial Instruments (Tables)

3 Months Ended

Mar. 31, 2023

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Financial Instruments Recorded at Estimated Fair Value

The following financial instruments were recorded at their estimated fair value. The recurring fair value measurement of our assets and liabilities were as follows:

($ in millions)	Fair Value Measurement Level	March 31, 2023		December 31, 2022
Forward contracts in Other current assets	2	$	12	$	6
Forward contracts in Accrued and other current liabilities	2	6		24

Schedule of Foreign Exchange Contracts, Statement of Financial Position

Foreign currency (losses) gains due to spot rate fluctuations on the euro-denominated debt instruments included in foreign currency translation adjustments resulting from hedge designation were as follows:

	Three Months Ended March 31,
($ in millions)	2023		2022
Foreign currency (losses) gains in Other comprehensive income	$	(42)	$	37

Schedule of (Gain) Loss Derivative Instruments

The Condensed Consolidated Statements of Income include the impact of actual net (gains) and losses of Organon's derivative financial instruments:

	Three Months Ended March 31,
($ in millions)	2023	2022
Foreign exchange loss (gain) in Exchange losses (gains)	9	(4)