DERIVATIVE INSTRUMENTS (Tables)

6 Months Ended

Jun. 30, 2020

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Derivative Instruments

The effect of the Company's fair value and cash flow hedges on the Company's Condensed Consolidated Statement of Earnings for the three and six months ended June 30, 2020 is as follows (in millions of dollars):

	Three Months Ended June 30, 2020				Six Months Ended June 30, 2020
	Interest expense, net		Other, net		Interest expense, net		Other, net
Gain or (loss) recognized in earnings
Fair value hedge:
Hedged item	$	(4)	$	—	$	(22)	$	—
Interest rate swap designated as hedging instrument	$	4	$	—	$	22	$	—
Cash flow hedge:
Hedged item	$	—	$	2	$	—	$	—
Cross-currency swap designated as hedging instrument	$	—	$	(2)	$	—	$	—

Schedule of Derivative Instruments in Statement of Financial Position, Fair Value

The fair value and carrying amounts of outstanding derivative instruments in the Condensed Consolidated Balance Sheets as of June 30, 2020 was as follows (in millions of dollars):

	Balance Sheet Classification	Fair Value and Carrying Amounts
Cross-currency swap	Other assets	$	—
Interest rate swap	Other assets	$	22