Derivative Instruments and Hedging Activities (Tables)

9 Months Ended

Sep. 30, 2022

Derivative Instruments And Hedging Activities Disclosure [Abstract]

Summary of Derivatives Included in the Consolidated Balance Sheet

. A summary of the fair value of the outstanding cross-currency swap derivatives, which was determined using a model with inputs that are observable in the market or can be derived or corroborated by observable data, included in the Consolidated Balance Sheet follows:

	(Stated in millions)
	Sept. 30, 2022		Dec. 31, 2021
Other current assets	$	45	$	-
Other assets	$	10	$	66
Other Liabilities	$	666	$	78

Effect of Derivative Instruments Designated as Cash Flow Hedges and Not Designated as Hedges on Consolidated Statement of (Loss) 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
	2022			2021			2022			2021			Consolidated Statement of Income Classification
Derivatives designated as cash flow hedges:
Cross currency swaps	$	(362	)	$	(89	)	$	(653	)	$	(267	)	Cost of services/sales
Commodity contracts		(20	)		-			(85	)		-		Revenue
Foreign exchange contracts		(10	)		2			(17	)		7		Cost of services/sales
	$	(392	)	$	(87	)	$	(755	)	$	(260	)
Derivatives not designated as hedges:
Foreign exchange contracts	$	8		$	(45	)	$	(30	)	$	(19	)	Cost of services/sales