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FINANCIAL INSTRUMENTS (Tables)
 12 Months Ended
Dec. 31, 2023
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of Estimated Fair Value of Assets and Liabilities The following table provides information about assets and liabilities not carried at fair value and excludes finance leases, equity securities without readily determinable fair value and non-financial assets and liabilities. Substantially all of these assets are considered to be Level 3 and the vast majority of our liabilities’ fair value are considered Level 2.
December 31, 2023December 31, 2022
Carrying
amount
(net)		Estimated
fair value		Carrying
amount
(net)		Estimated
fair value
AssetsLoans and other receivables$2,438 $2,379 $2,557 $2,418 
LiabilitiesBorrowings (Note 10)$20,965 $20,689 $24,059 $22,849 
Investment contracts (Note 12)1,535 1,616 1,708 1,758 
Schedule of Fair Value of Derivative Assets
FAIR VALUE OF DERIVATIVESDecember 31, 2023December 31, 2022
Gross NotionalAll other current assetsAll other current liabilitiesGross NotionalAll other current assetsAll other current liabilities
Qualifying currency exchange contracts$6,648 $156 $91 $5,112 $132 $146 
Non-qualifying currency exchange contracts and other50,563 794 580 52,786 1,143 1,095 
Gross derivatives$57,211 $950 $671 $57,898 $1,275 $1,241 
Netting and credit adjustments$(512)$(510)$(821)$(820)
Net derivatives in statement of financial position$437 $161 $454 $420 
Schedule of Fair Value of Derivative Liabilities
FAIR VALUE OF DERIVATIVESDecember 31, 2023December 31, 2022
Gross NotionalAll other current assetsAll other current liabilitiesGross NotionalAll other current assetsAll other current liabilities
Qualifying currency exchange contracts$6,648 $156 $91 $5,112 $132 $146 
Non-qualifying currency exchange contracts and other50,563 794 580 52,786 1,143 1,095 
Gross derivatives$57,211 $950 $671 $57,898 $1,275 $1,241 
Netting and credit adjustments$(512)$(510)$(821)$(820)
Net derivatives in statement of financial position$437 $161 $454 $420 
Schedule of Effects of Derivatives on AOCI
CASH FLOW HEDGES AND NET INVESTMENT HEDGES
Gain (loss) recognized in AOCI for the year ended December 31
202320222021
Cash flow hedges(a)$83 $(242)$(140)
Net investment hedges(b)(153)341 487 
(a) Primarily related to currency exchange contracts.
(b) The carrying value of foreign currency debt designated as net investment hedges was $4,726 million and $3,329 million as of December 31, 2023 and 2022, respectively. The total reclassified from AOCI into earnings was zero, zero and $(87) million for the years ended December 31, 2023, 2022 and 2021, respectively.
Schedule of Effects of Derivatives on Earnings
The table below presents the effects of hedges and resulting gains (losses) of our derivative financial instruments in the Statement of Earnings (Loss):
20232022
RevenuesInterest ExpenseSG&A(b)Other Income(a)RevenuesDebt
extinguishment
costs		Interest ExpenseSG&A(b)Other Income(a)
$67,954 $1,118 $9,195 $57,521 $58,100 $465 $1,477 $9,173 $45,444 
Cash flow hedges$(1)$(10)$1 $39 $(23)$(20)$(2)$(100)
Fair value hedges$— $(16)
Non-hedging derivatives$— $— $130 $(167)$7 $159 $(4)$(269)$(485)
(a) Amounts are inclusive of cost of sales and other income (loss).
(b) SG&A was primarily driven by hedges of deferred incentive compensation, and hedges of remeasurement of monetary assets and liabilities.