Derivative Financial Instruments and Hedging Activities (Tables)

6 Months Ended

Jun. 30, 2025

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 June 30 were as follows (in millions):

	Second Quarter				First Half
	2024		2025		2024		2025
Fair value hedges
Interest rate contracts
Net interest settlements and accruals on hedging instruments	$	(106)	$	(44)	$	(202)	$	(92)
Fair value changes on hedging instruments	(26)		235		(269)		564
Fair value changes on hedged debt	17		(219)		237		(543)
Cross-currency interest rate swap contracts
Net interest settlements and accruals on hedging instruments	(35)		(18)		(64)		(43)
Fair value changes on hedging instruments	(47)		358		(111)		504
Fair value changes on hedged debt	40		(339)		102		(475)
Derivatives not designated as hedging instruments
Interest rate contracts	3		(18)		51		(63)
Foreign currency exchange contracts (a)	45		(125)		137		(135)
Cross-currency interest rate swap contracts	(30)		246		(196)		348
Total	$	(139)	$	76	$	(315)	$	65

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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 were as follows (in millions):

	December 31, 2024						June 30, 2025
	Notional		Fair Value of Assets		Fair Value of Liabilities		Notional		Fair Value of Assets		Fair Value of Liabilities
Fair value hedges
Interest rate contracts	$	16,194	$	66	$	645	$	19,563	$	457	$	309
Cross-currency interest rate swaps	3,802		9		139		3,802		381		—
Derivatives not designated as hedging instruments
Interest rate contracts	76,977		305		845		84,941		330		804
Foreign currency exchange contracts (a)	9,716		271		117		8,572		122		150
Cross-currency interest rate swap contracts	5,455		133		246		5,325		352		49
Total derivative financial instruments, gross (b) (c)	$	112,144	$	784	$	1,992	$	122,203	$	1,642	$	1,312

__________

(a)Includes forward contracts between us and an affiliated company, including offsetting forward contracts with our consolidated entities, totaling $5.3 billion and $1.8 billion in notional amounts and $115 million and $32 million in both assets and liabilities at December 31, 2024 and June 30, 2025, respectively.

(b)At December 31, 2024 and June 30, 2025, we held collateral of $27 million and $38 million, respectively, and we posted collateral of $127 million and $125 million, respectively.

(c)At December 31, 2024 and June 30, 2025, the fair value of assets and liabilities available for counterparty netting was $450 million and $831 million, respectively. All derivatives are categorized within Level 2 of the fair value hierarchy.