Derivatives (Tables)

3 Months Ended

Mar. 31, 2020

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Fair Value of Derivative Financial Instruments

The following table presents the fair value of derivative financial instruments at the dates indicated (in millions):

	March 31, 2020				December 31, 2019
	Fair Value of Derivatives				Fair Value of Derivatives
	Asset (a)		Liability (a)		Asset (a)		Liability (a)
Derivatives designated as effective hedges:
Cash flow hedges:
Foreign currency contracts	$	23	$	2	$	1	$	13
Fair value hedges:
Interest rate swaps	8		—		2		1
Net investment hedges:
Cross-currency swaps	21		—		—		—
Derivatives not designated as effective hedges:
Foreign currency contracts	32		16		10		4
Total	$	84	$	18	$	13	$	18
(a) Consolidated balance sheet location:
Asset: Prepaid expenses and other, and other noncurrent assets
Liability: Other accrued liabilities, and current and noncurrent liabilities

Schedule of Pretax Effects of Derivative Financial Instruments Designated or Previously Designated as Effective Hedges

The following tables present gain and loss activity (on a pretax basis) for the three months ended March 31, 2020 and 2019 related to derivative financial instruments designated or previously designated, as effective hedges (in millions):

		Three Months Ended March 31, 2020				Three Months Ended March 31, 2019
		Gain/(Loss)				Gain/(Loss)
	Location of gain/(loss) recognized in income	Recognized in OCI (effective portion)		Reclassified from AOCL to Income		Recognized in OCI (effective portion)		Reclassified from AOCL to Income
Interest rate swaps	Interest expense, net	$	—	$	(2)	$	—	$	(2)
Foreign currency contracts	Net sales and cost of products sold	35		1		(6)		6
Commodity contracts	Cost of products sold	—		—		(1)		—
Cross-currency swaps	Other expense, net	21		—		—		—
Total		$	56	$	(1)	$	(7)	$	4