Derivative Financial Instruments (Tables)

3 Months Ended

Mar. 31, 2022

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
	March 31 2022	December 31 2021	March 31 2022	December 31 2021	March 31 2022	December 31 2021
Derivatives designated as hedging instruments:
Foreign exchange contracts	$2,686	$2,630	$53	$30	($35)	($52)
Commodity contracts	593	500	190	88	(7)	(18)
Derivatives not receiving hedge accounting treatment:
Foreign exchange contracts	708	361	3	2	(52)	(3)
Commodity contracts	1,059	760	19	8	(12)	(7)
Total derivatives	$5,046	$4,251	$265	$128	($106)	($80)
Netting arrangements			(46)	(30)	46	30
Net recorded balance			$219	$98	($60)	($50)

(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:

	Three months ended March 31
	2022	2021
Recognized in Other comprehensive income, net of taxes:
Foreign exchange contracts	($8)	($19)
Commodity contracts	102	30

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:

	Three months ended March 31
	2022	2021
Foreign exchange contracts
Costs and expenses	$5
General and administrative	(1)	$3
Commodity contracts
Costs and expenses	1	(3)
General and administrative expense	1	2