XML 60 R50.htm IDEA: XBRL DOCUMENT v3.24.3
Note 12 - Financial Instruments - Summary of Notional Amounts and Respective Fair Values of Derivative Financial Instruments (Details)
$ in Millions, ¥ in Billions
Sep. 30, 2024
USD ($)
Jun. 30, 2024
USD ($)
Jun. 30, 2024
JPY (¥)
Dec. 31, 2023
USD ($)
Notional amount [1] $ 11,986     $ 7,271
Asset derivatives, fair value [1],[2] 706     631
Liability derivatives, fair value [1],[2] (238)     (97)
Current, Asset derivatives, fair value [2] 446     501
Current, Liability derivatives, fair value [2] (102)     (66)
Non-current, Asset derivatives, fair value [2] 260     130
Non-current, Liability derivatives, fair value [2] (136)     (31)
Total asset derivatives [2] 706     631
Total liability derivatives [2] (238)     (97)
Not Designated as Hedging Instrument [Member]        
Notional amount 8,660     5,042
Foreign Exchange Contract [Member] | Designated as Hedging Instrument [Member]        
Notional amount [3] 864     241
Foreign Exchange Contract [Member] | Designated as Hedging Instrument [Member] | Other Current Assets [Member]        
Asset derivatives, fair value [2],[3] 136     287
Foreign Exchange Contract [Member] | Designated as Hedging Instrument [Member] | Other Accrued Liabilities [Member]        
Liability derivatives, fair value [2],[3] (46)      
Foreign Exchange Contract [Member] | Not Designated as Hedging Instrument [Member]        
Notional amount 2,247     1,988
Foreign Exchange Contract [Member] | Not Designated as Hedging Instrument [Member] | Other Current Assets [Member]        
Asset derivatives, fair value [2] 64     20
Foreign Exchange Contract [Member] | Not Designated as Hedging Instrument [Member] | Other Accrued Liabilities [Member]        
Liability derivatives, fair value [2] (23)     (17)
Translated Earnings Contracts [Member] | Not Designated as Hedging Instrument [Member]        
Notional amount 8,660     5,042
Translated Earnings Contracts [Member] | Not Designated as Hedging Instrument [Member] | Other Current Assets [Member]        
Asset derivatives, fair value [2] 506     324
Translated Earnings Contracts [Member] | Not Designated as Hedging Instrument [Member] | Other Accrued Liabilities [Member]        
Liability derivatives, fair value [2] (105)     $ (80)
Currency Swap [Member] | Not Designated as Hedging Instrument [Member]        
Notional amount 215 $ 215 ¥ 23  
Currency Swap [Member] | Not Designated as Hedging Instrument [Member] | Other Accrued Liabilities [Member]        
Liability derivatives, fair value [2] $ (64)      
[1] The amounts above do not include €850 million of euro-denominated debt ($903 million equivalent as of June 30, 2024), which is a non-derivative financial instrument designated as a net investment hedge.
[2] All of the Company’s derivative contracts are measured at fair value and are classified as Level 2 within the fair value hierarchy. Derivative assets are presented in Other current assets or Other assets. Derivative liabilities are presented in Other current liabilities or Other liabilities.
[3] As of June 30, 2024 and December 31, 2023, derivatives designated as hedging instruments include foreign exchange cash flow hedges with total notional amounts of $236 million and $241 million, respectively, and fair value hedges of leased precious metals with total notional amounts of 13,762 troy ounces and 20,160 troy ounces, respectively. Fair value assets include designated derivatives pertaining to precious metals lease contracts in the amounts of $146 million and $229 million as of June 30, 2024 and December 31, 2023, respectively.