Derivative Financial Instruments (Tables)

12 Months Ended

Dec. 31, 2024

Summary of Derivative Instruments [Abstract]

Schedule of Derivative Instruments in Statement of Financial Position, Fair Value

The notional amounts and fair values of derivative instruments in the Consolidated Statements of Financial Position as of December 31 were as follows:

	Notional  amounts(1)		Other assets		Accrued liabilities
	2024	2023	2024	2023	2024	2023
Derivatives designated as hedging instruments:
Foreign exchange contracts	$5,139	$4,120	$23	$85	($213)	($63)
Commodity contracts	388	514	65	83	(12)	(8)
Derivatives not receiving hedge accounting treatment:
Foreign exchange contracts	103	254	1	1	(17)	(32)
Commodity contracts	129	115				(2)
Total derivatives	$5,759	$5,003	89	169	(242)	(105)
Netting arrangements			(24)	(47)	24	47
Net recorded balance			$65	$122	($218)	($58)

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

Schedule of Derivative Instruments, Gains/(Losses) in Statement of Financial Performance

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

Years ended December 31,	2024	2023	2022
Recognized in Other comprehensive income, net of taxes:
Foreign exchange contracts	($248)	$61	($118)
Commodity contracts	(10)	(20)	78

Reclassification Out of Accumulated Other Comprehensive Income

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

Years ended December 31,	2024	2023	2022
Foreign exchange contracts
Revenues	($1)		$1
Costs and expenses	(25)	($15)	7
General and administrative	(8)	(17)	(12)
Commodity contracts
Costs and expenses	($7)	$31	$31
General and administrative expense	6	7	10