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Fair Value Measurements and Financial Instruments (Tables)
12 Months Ended
Dec. 31, 2024
Fair Value Disclosures [Abstract]  
Schedule of Derivative Instruments
The following table summarizes the fair value of the Company’s derivative instruments and other financial instruments which are carried at fair value in the Company’s Consolidated Balance Sheets as of December 31, 2024 and 2023:

 AssetsLiabilities
 AccountFair ValueAccountFair Value
Designated derivative instruments December 31, 2024December 31, 2023 December 31, 2024December 31, 2023
Foreign currency contractsOther current assets33 19 Other accruals22 25 
Commodity contractsOther current assets— — Other accruals
Total designated $33 $19  $23 $26 
Other financial instruments      
Marketable securitiesOther current assets160 179    
Total other financial instruments $160 $179    
Schedule of Notional Amounts of Outstanding Derivative Positions
The following tables present the notional values as of:

 December 31, 2024
 Foreign
Currency
Contracts
Foreign Currency DebtCommodity Contracts 
Total
Fair Value Hedges $1,669 $— $— $1,669 
Cash Flow Hedges 1,023 — 18 1,041 
Net Investment Hedges289 3,750 — 4,039 

 December 31, 2023
 Foreign
Currency
Contracts
Foreign Currency DebtCommodity Contracts 
Total
Fair Value Hedges $1,625 $— $— $1,625 
Cash Flow Hedges 869 — 39 908 
Net Investment Hedges280 3,908 — 4,188 
Schedule of Net Investment Hedges in Accumulated Other Comprehensive Income (Loss)
The following table presents the amount of gain (loss) on net investment hedges recognized in the Company’s AOCI:

Gain (Loss) Recognized in AOCI
Twelve Months Ended December 31,
Hedging instruments:20242023
Foreign currency contracts$42 $(34)
Foreign currency debt211 (124)
Total gain (loss) on net investment hedges$253 $(158)