Financial Instruments (Tables)

12 Months Ended

Dec. 31, 2021

Derivative [Line items]

Notional Amounts of Derivatives

Notional Amounts (In millions)	December 31, 2021		December 31, 2020
Derivatives designated as hedging instruments:
Foreign currency contracts	$	1,252	$	1,164
Commodity contracts	$	845	$	383
Derivatives not designated as hedging instruments:
Foreign currency contracts	$	103	$	647
Commodity contracts	$	4	$	—

Fair Value of Derivatives Instruments

		December 31, 2021
(In millions)	Balance Sheet Location	Gross		Counterparty and Cash Collateral Netting1		Net Amounts Included in the Consolidated Balance Sheet
Asset derivatives:
Derivatives designated as hedging instruments:
Foreign currency contracts	Other current assets	$	37	$	—	$	37
Derivatives not designated as hedging instruments:
Foreign currency contracts	Other current assets	31		(20)		11
Commodity contracts	Other current assets	3		—		3
Total asset derivatives		$	71	$	(20)	$	51
Liability derivatives:
Derivatives designated as hedging instruments:
Foreign currency contracts	Accrued and other current liabilities	$	1	$	—	$	1
Derivatives not designated as hedging instruments:
Foreign currency contracts	Accrued and other current liabilities	23		$	(20)	3
Commodity contracts	Accrued and other current liabilities	2		—		2
Total liability derivatives		$	26	$	(20)	$	6

		December 31, 2020
(In millions)	Balance Sheet Location	Gross		Counterparty and Cash Collateral Netting1		Net Amounts Included in the Consolidated Balance Sheet
Asset derivatives:
Derivatives designated as hedging instruments:
Foreign currency contracts	Other current assets	$	15	$	—	$	15
Derivatives not designated as hedging instruments:
Foreign currency contracts	Other current assets	40		(40)		—
Total asset derivatives		$	55	$	(40)	$	15
Liability derivatives:
Derivatives designated as hedging instruments:
Foreign currency contracts	Accrued and other current liabilities	$	38	$	—	$	38
Derivatives not designated as hedging instruments:
Foreign currency contracts	Accrued and other current liabilities	97		(40)		57
Total liability derivatives		$	135	$	(40)	$	95

1.    Counterparty and cash collateral amounts represent the estimated net settlement amount when applying netting and set-off rights included in master netting arrangements between the company and its counterparties and the payable or receivable for cash collateral held or placed with the same counterparty.

Effect of Derivative Instruments

	Amount of Gain (Loss) Recognized in OCI1 - Pre-Tax
	For the Year Ended December 31,
(In millions)	2021		2020		2019
Derivatives designated as hedging instruments:
Net investment hedges:
Foreign currency contracts	$	37	$	(45)	$	—
Cash flow hedges:
Foreign currency contracts	27		(4)		—
Commodity contracts	129		(62)		23
Total derivatives designated as hedging instruments	$	193	$	(111)	$	23

1.OCI is defined as other comprehensive income (loss).

(in millions)	Amount of (Loss) Gain Recognized in Income - Pre-Tax1
	For the Year Ended December 31,
	2021		2020		2019
Derivatives designated as hedging instruments:
Cash flow hedges:
Foreign currency contracts2	$	(29)	$	17	$	—
Commodity contracts2	42		(35)		(13)
Total derivatives designated as hedging instruments	13		(18)		(13)
Derivatives not designated as hedging instruments:
Foreign currency contracts3	18		89		(58)
Foreign currency contracts2	(14)		14		—
Commodity contracts2	(18)		9		9
Total derivatives not designated as hedging instruments	(14)		112		(49)
Total derivatives	$	(1)	$	94	$	(62)

1.For cash flow hedges, this represents the portion of the gain (loss) reclassified from accumulated OCI into income during the period.

2.Recorded in cost of goods sold.

3.Gain recognized in other income - net was partially offset by the related gain on the foreign currency-denominated monetary assets and liabilities of the company's operations. See Note 9 - Supplementary Information, to the Consolidated Financial Statements for additional information.

Schedule of Available-for-sale Securities Reconciliation

Investing Results	For the Year Ended December 31,
(In millions)	2021
Proceeds from sales of available-for-sale securities	$	226
Gross realized losses	$	(7)

Commodity Contract [Member]

Derivative [Line items]

After-Tax Effect of Cash Flow Hedges Included in Accumulated Other Comprehensive Income (Loss)

	For the Year Ended December 31,
(In millions)	2021		2020		2019
Beginning balance	$	(16)	$	2	$	(26)
Additions and revaluations of derivatives designated as cash flow hedges	92		(44)		16
Clearance of hedge results to earnings	(29)		26		12
Ending balance	$	47	$	(16)	$	2

Foreign Exchange Contract [Member]

Derivative [Line items]

After-Tax Effect of Cash Flow Hedges Included in Accumulated Other Comprehensive Income (Loss)

(In millions)	For the Year Ended December 31, 2021		For the Year Ended December 31, 2020
Beginning balance	$	(17)	$	—
Additions and revaluations of derivatives designated as cash flow hedges	24		(3)
Clearance of hedges results to earnings	25		(14)
Ending balance	$	32	$	(17)