Derivative Instruments and Hedging Activities (Tables)

9 Months Ended

Sep. 30, 2024

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Summary of Derivatives Included in the Consolidated Balance Sheet

A summary of the amounts included in the Consolidated Balance Sheet relating to cross currency interest rate swaps was as follows:

	(Stated in millions)
	Sept. 30, 2024		Dec. 31, 2023
Other current assets	$	11	$	-
Other Assets	$	39	$	36
Other Liabilities	$	64	$	67

Effect of Derivative Instruments Designated as Cash Flow Hedges and Not Designated as Hedges on Consolidated Statement of Income

The effect of derivative instruments designated as cash flow hedges, and those not designated as hedges, on the Consolidated Statement of Income was as follows:

							(Stated in millions)
	Gain (Loss) Recognized in Income
	Third Quarter						Nine Months
	2024			2023			2024			2023			Consolidated Statement of Income Classification
Derivatives designated as cash flow hedges:
Cross-currency interest rate swaps	$	193		$	(159	)	$	47		$	(27	)	Cost of services/sales
Cross-currency interest rate swaps		(21	)		(22	)		(65	)		(66	)	Interest expense
Commodity contracts		-			(5	)		(10	)		2		Revenue
Foreign exchange contracts		10			7			12			14		Cost of services/sales
Foreign exchange contracts		(8	)		-			(6	)		-		Revenue
	$	174		$	(179	)	$	(22	)	$	(77	)
Derivatives not designated as hedges:
Foreign exchange contracts	$	(13	)	$	5		$	10		$	(21	)	Cost of services/sales