DERIVATIVE FINANCIAL INSTRUMENTS AND HEDGING ACTIVITIES (Tables)

6 Months Ended

Jun. 30, 2018

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Derivative Financial Instruments Recognized in Condensed Consolidated Balance Sheet

The fair value of derivative financial instruments recognized in the Condensed Consolidated Balance Sheets follows:

	Notional amount		Other  current assets		Other noncurrent assets		Other current liabilities		Other noncurrent liabilities		Type of hedge	Term
June 30, 2018
Derivatives designated as hedges
Fixed-to-floating interest rate  swaps	$	2,550	$	—	$	18	$	1	$	51	Fair value	9 months to 16 years
Currency exchange contracts	950		13		5		18		4		Cash flow	1 to 36 months
Total			$	13	$	23	$	19	$	55
Derivatives not designated as  hedges
Currency exchange contracts	$	6,033	$	33			$	135				1 to 12 months
Commodity contracts	11		—				—					1 to 12 months
Total			$	33			$	135
December 31, 2017
Derivatives designated as hedges
Fixed-to-floating interest rate  swaps	$	2,965	$	1	$	41	$	—	$	17	Fair value	6 months to 17 years
Currency exchange contracts	924		7		7		22		2		Cash flow	1 to 36 months
Total			$	8	$	48	$	22	$	19
Derivatives not designated as  hedges
Currency exchange contracts	$	3,719	$	39			$	19				1 to 12 months
Commodity contracts	13		1				—					1 to 12 months
Total			$	40			$	19

Amounts Recognized in Accumulated Other Comprehensive Loss

The impact of derivative instruments to the Consolidated Statement of Income and Comprehensive Income follow:

	Gain (loss) recognized in other comprehensive (loss) income						Location of gain (loss) reclassified from Accumulated other comprehensive loss	Gain (loss) reclassified from Accumulated other comprehensive loss
	Three months ended June 30							Three months ended June 30
	2018			2017				2018			2017
Derivatives designated as    cash flow hedges
Forward starting floating-to-fixed  interest rate swaps	$	—		$	(5	)	Interest expense - net	$	—		$	—
Currency exchange contracts	(15		)	2			Cost of products sold	(4		)	(1		)
Total	$	(15	)	$	(3	)		$	(4	)	$	(1	)
	Gain (loss) recognized in other comprehensive (loss) income						Location of gain (loss) reclassified from Accumulated other comprehensive loss	Gain (loss) reclassified from Accumulated other comprehensive loss
	Six months ended June 30							Six months ended June 30
	2018			2017				2018			2017
Derivatives designated as cash flow hedges
Forward starting floating-to-fixed interest rate swaps	$	—		$	(5	)	Interest expense - net	$	—		$	—
Currency exchange contracts	(2		)	1			Cost of products sold	(8		)	(5		)
Total	$	(2	)	$	(4	)		$	(8	)	$	(5	)

Amounts recognized in Net Income

Amounts recognized in net income follow:

	Three months ended June 30						Six months ended June 30
	2018			2017			2018			2017
Derivatives designated as fair value hedges
Fixed-to-floating interest rate swaps	$	(16	)	$	8		$	(59	)	$	(3	)
Related long-term debt converted to floating interest    rates by interest rate swaps	16			(8		)	59			3
	$	—		$	—		$	—		$	—