Derivative Financial Instruments (Tables)

9 Months Ended

Sep. 30, 2021

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Derivative Instruments, Notional Amounts and Fair Values

The notional amounts and fair values of derivative instruments in the Condensed Consolidated Statements of Financial Position were as follows:

	Notional amounts (1)		Other assets		Accrued liabilities
	September 30 2021	December 31 2020	September 30 2021	December 31 2020	September 30 2021	December 31 2020
Derivatives designated as hedging instruments:
Foreign exchange contracts	$2,581	$2,594	$24	$81	($50)	($24)
Commodity contracts	586	404	116	4	(11)	(43)
Derivatives not receiving hedge accounting treatment:
Foreign exchange contracts	550	769	8	22	(2)	(16)
Commodity contracts	974	904	10		(24)	(17)
Total derivatives	$4,691	$4,671	$158	$107	($87)	($100)
Netting arrangements			(51)	(31)	51	31
Net recorded balance			$107	$76	($36)	($69)

(1)Notional amounts represent the gross contract/notional amount of the derivatives outstanding.

Schedule Of Derivative Instruments, Gains/(Losses)

Gains/(losses) associated with our hedging transactions and forward points recognized in Other comprehensive income are presented in the following table:

	Nine months ended September 30		Three months ended September 30
	2021	2020	2021	2020
Recognized in Other comprehensive income, net of taxes:
Foreign exchange contracts	($49)	($58)	($43)	$54
Commodity contracts	113	(49)	42	25

Reclassification out of Accumulated Other Comprehensive Income

Gains/(losses) associated with our hedging transactions and forward points reclassified from AOCI to earnings are presented in the following table:

	Nine months ended September 30		Three months ended September 30
	2021	2020	2021	2020
Foreign exchange contracts
Revenues		($2)		($1)
Costs and expenses	$8	(12)	$5	(6)
General and administrative	9	(5)
Commodity contracts
Costs and expenses	(13)	(6)		(3)
General and administrative expense	4	(1)	1