Derivative Financial Instruments and Hedging Activities (Tables)

9 Months Ended

Sep. 30, 2022

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Derivative Instruments, Gain (Loss) in Statement of Financial Performance [Table Text Block]

The gains/(losses), by hedge designation, reported in income for the periods ended September 30 were as follows (in millions):

	Third Quarter				First Nine Months
	2021		2022		2021		2022
Fair value hedges
Interest rate contracts
Net interest settlements and accruals on hedging instruments	$	98	$	(39)	$	299	$	62
Fair value changes on hedging instruments	(142)		(600)		(680)		(1,922)
Fair value changes on hedged debt	135		615		638		1,991
Cross-currency interest rate swap contracts
Net interest settlements and accruals on hedging instruments	(2)		(8)		(6)		(17)
Fair value changes on hedging instruments	(28)		(66)		(67)		(164)
Fair value changes on hedged debt	25		67		58		173
Derivatives not designated as hedging instruments
Interest rate contracts	—		130		(25)		342
Foreign currency exchange contracts (a)	79		112		87		137
Cross-currency interest rate swap contracts	(194)		(494)		(390)		(1,164)
Total	$	(29)	$	(283)	$	(86)	$	(562)

__________

(a)Reflects forward contracts between us and an affiliated company.

Schedule of Derivative Instruments in Statement of Financial Position, Fair Value [Table Text Block]

The fair value of our derivative instruments and the associated notional amounts were as follows (in millions):

	December 31, 2021						September 30, 2022
	Notional		Fair Value of Assets		Fair Value of Liabilities		Notional		Fair Value of Assets		Fair Value of Liabilities
Fair value hedges
Interest rate contracts	$	23,893	$	544	$	274	$	19,159	$	—	$	1,645
Cross-currency interest rate swap contracts	885		—		49		885		—		220
Derivatives not designated as hedging instruments
Interest rate contracts	50,060		338		126		50,195		946		572
Foreign currency exchange contracts	4,407		66		2		5,144		209		83
Cross-currency interest rate swap contracts	6,533		117		61		6,583		10		1,108
Total derivative financial instruments, gross (a) (b)	$	85,778	$	1,065	$	512	$	81,966	$	1,165	$	3,628

__________

(a)At December 31, 2021 and September 30, 2022, we held collateral of $26 million and $225 million, respectively, and we posted collateral of $71 million and $182 million, respectively.

(b)At December 31, 2021 and September 30, 2022, the fair value of assets and liabilities available for counterparty netting was $415 million and $225 million, respectively. All derivatives are categorized within Level 2 of the fair value hierarchy.