XML 53 R39.htm IDEA: XBRL DOCUMENT v3.21.2
DERIVATIVES AND HEDGING ACTIVITIES (Tables)
6 Months Ended
Jun. 30, 2021
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of Notional Amounts of Financial Instruments [Table Text Block]
The notional amounts of qualifying and non-qualifying financial instruments used in hedging transactions were as follows:

In millionsJune 30, 2021 December 31, 2020
Derivatives in Cash Flow Hedging Relationships:
Foreign exchange contracts (USD)$88 $85 
Foreign exchange contracts (EUR)195 187 
Derivatives in Net Investment Hedging Relationships:
Foreign exchange contracts (EUR)670— 
Foreign exchange contracts (BRL)600— 
Derivatives Not Designated as Hedging Instruments:
Electricity contract (MWh)0.1 0.2 
Foreign exchange contracts (EUR)500 — 
Foreign exchange contracts (USD)600 — 
Gains Or Losses Recognized In Accumulated Other Comprehensive Income (AOCI), Net Of Tax, Related To Derivative Instruments [Table Text Block]
The following table shows gains or losses recognized in AOCI, net of tax, related to derivative instruments: 

 Gain (Loss) Recognized in AOCI on Derivatives (Effective Portion)
 Three Months Ended
June 30,
Six Months Ended
June 30,
In millions2021202020212020
Derivatives in Cash Flow Hedging Relationships:
Foreign exchange contracts$13 $— $7 $(30)
Total$13 $— $7 $(30)
Derivatives in Net Investment Hedging Relationships:
Foreign exchange contracts$(5)$— $12 $ 
Interest rate contracts  24 
Total$(5)$$12 $24 
Gains And Losses Recognized In Consolidated Statement Of Operations On Qualifying And Non-Qualifying Financial Instruments [Table Text Block]
The amounts of gains and losses recognized in the statement of operations on qualifying and non-qualifying financial instruments used in hedging transactions were as follows:

 Gain (Loss) Reclassified from AOCI Into Income (Effective Portion)Location of Gain (Loss)
Reclassified from AOCI
(Effective Portion)
 Three Months Ended
June 30,
Six Months Ended
June 30,
 
In millions2021202020212020 
Derivatives in Cash Flow Hedging Relationships:
Foreign exchange contracts$4 $(9)$1 $(20)Cost of products sold
Total$4 $(9)$1 $(20)
 Gain (Loss) Recognized in IncomeLocation of Gain (Loss)
In 
Statement
of Operations
 Three Months Ended
June 30,
Six Months Ended
June 30,
 
In millions2021202020212020 
Derivatives in Fair Value Hedging Relationships:
Interest rate contracts$ $— $ $38 Interest expense, net
Debt —  (38)Interest expense, net
Total$ $— $ $— 
Derivatives in Net Investment Hedging Relationships:
Foreign exchange contracts— — Net (gain) losses on sales and impairments of businesses
Total$— $$— $
Derivatives Not Designated as Hedging Instruments:
Electricity contract$5 $— $7 $(3)Cost of products sold
Foreign exchange contracts(6)— (6)— Cost of products sold
Total$(1)$— $1 $(3)
Impact Of Derivative Instruments In Consolidated Balance Sheet [Table Text Block]
The following table provides a summary of the impact of our derivative instruments in the balance sheet:

Fair Value Measurements
Level 2 – Significant Other Observable Inputs
 
 Assets Liabilities 
In millionsJune 30, 2021 December 31, 2020 June 30, 2021 December 31, 2020 
Derivatives designated as hedging instruments
Foreign exchange contracts – cash flow$9 $$3 $
Foreign exchange contracts - net investment 7 — 2 — 
Total derivatives designated as hedging instruments16 5 
Derivatives not designated as hedging instruments
Electricity contract5 —  
Foreign exchange contracts  — 6 — 
Total derivatives not designated as hedging instruments5   — 6 
Total derivatives$21 (a)$(a)$11 (b)$(c)
 
(a)Included in Other current assets in the accompanying consolidated balance sheet.
(b)Includes $10 million recorded in Other current liabilities and $1 million recorded in Other liabilities in the accompanying consolidated balance sheet.
(c)Includes $7 million recorded in Other current liabilities and $2 million recorded in Other liabilities in the accompanying consolidated balance sheet.