Derivative Financial Instruments and Hedging Activities (Tables)

12 Months Ended

Dec. 31, 2024

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 years ended December 31 were as follows (in millions):

	2022		2023		2024
Fair value hedges
Interest rate contracts
Net interest settlements and accruals on hedging instruments	$	(45)	$	(507)	$	(361)
Fair value changes on hedging instruments	(1,875)		196		(220)
Fair value changes on hedged debt	1,893		(260)		182
Cross-currency interest rate swap contracts
Net interest settlements and accruals on hedging instruments	(27)		(79)		(133)
Fair value changes on hedging instruments	(111)		96		(134)
Fair value changes on hedged debt	113		(96)		108
Derivatives not designated as hedging instruments
Interest rate contracts	390		37		(85)
Foreign currency exchange contracts (a)	50		(35)		268
Cross-currency interest rate swap contracts	(780)		127		(272)
Total	$	(392)	$	(521)	$	(647)

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(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 at December 31 were as follows (in millions):

	2023						2024
	Notional		Fair Value of Assets		Fair Value of Liabilities		Notional		Fair Value of Assets		Fair Value of Liabilities
Fair value hedges
Interest rate contracts	$	12,119	$	106	$	633	$	16,194	$	66	$	645
Cross-currency interest rate swaps	2,078		69		104		3,802		9		139
Derivatives not designated as hedging instruments
Interest rate contracts	73,134		465		1,036		76,977		305		845
Foreign currency exchange contracts (a)	10,276		59		116		9,716		271		117
Cross-currency interest rate swap contracts	7,100		119		252		5,455		133		246
Total derivative financial instruments, gross (b) (c)	$	104,707	$	818	$	2,141	$	112,144	$	784	$	1,992

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(a)Includes forward contracts between us and an affiliated company, including offsetting forward contracts with our consolidated entities, totaling $5.9 billion and $5.3 billion in notional amounts and $46 million and $115 million in both assets and liabilities at December 31, 2023 and 2024, respectively.

(b)At December 31, 2023 and 2024, we held collateral of $40 million and $27 million, and we posted collateral of $126 million and $127 million, respectively.

(c)At December 31, 2023 and 2024, the fair value of assets and liabilities available for counterparty netting was $516 million and $450 million, respectively. All derivatives are categorized within Level 2 of the fair value hierarchy.