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Derivative Financial Instruments (Tables)
 12 Months Ended
Dec. 31, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Amounts related to cumulative basis adjustments for fair value hedges
At December 31, 2024 and 2023, the following amounts were recorded in the Consolidated Balance Sheet related to cumulative basis adjustments for fair value hedges:
($ in millions)
At December 31:20242023
Short-term debt
Carrying amount of the hedged item$(13)$(1)
Cumulative hedging adjustments included in the carrying amount—assets/(liabilities)(13)(1)
Long-term debt
Carrying amount of the hedged item(6,497)(6,629)
Cumulative hedging adjustments included in the carrying amount—assets/(liabilities) (1)
19061
(1)Includes ($155) million and ($200) million of hedging adjustments on discontinued hedging relationships at December 31, 2024 and 2023, respectively.
Effect of derivative instruments in the Consolidated Income Statement
The total amounts of income and expense line items presented in the Consolidated Income Statement in which the effects of fair value hedges, cash flow hedges, net investment hedges and derivatives not designated as hedging instruments are recorded and the total effect of hedge activity on these income and expense line items are as follows:
($ in millions)
TotalGains/(Losses) of
Total Hedge Activity
For the year ended December 31:202420232022202420232022
Cost of services$20,529 $21,051 $21,062 $22 $(5)$24 
Cost of sales6,303 6,127 6,374 40 22 99 
Cost of financing369 382 406 (10)(11)2 
SG&A expense19,688 19,003 18,609 151 165 (211)
Other (income) and expense1,871 (914)5,803 (515)17 (225)
Interest expense1,712 1,607 1,216 (51)(54)6 
($ in millions)
Gain/(Loss) Recognized in Consolidated Income Statement
Consolidated
Income Statement
Line Item		Recognized on
Derivatives
Attributable to Risk
Being Hedged (1)
For the year ended December 31:202420232022202420232022
Derivative instruments in fair value hedges (2)
       
Interest rate contractsCost of financing$(41)$(17)$(73)$19 $(2)$85 
Interest expense(208)(83)(257)97 (11)299 
Derivative instruments not designated as hedging instruments
Foreign exchange contractsOther (income)
and expense		(390)(192)(492)N/A N/AN/A
Equity contractsSG&A expense135 153 (249)N/A N/AN/A
Other (income)
and expense		— — (83)N/A N/AN/A
Total $(504)$(140)$(1,153)$116 $(13)$384 
(1)The amount includes basis adjustments to the carrying value of the hedged item recorded during the period and amortization of basis adjustments recorded on de-designated hedging relationships during the period.
(2)The amount includes changes in clean fair values of the derivative instruments in fair value hedging relationships and the periodic accrual for coupon payments required under these derivative contracts.
($ in millions)
Gain/(Loss) Recognized in Consolidated Income Statement and Other Comprehensive Income
For the year ended Recognized in OCI Consolidated
Income Statement
Line Item		Reclassified
from AOCI
Amounts Excluded from
Effectiveness Testing (1)
December 31:202420232022202420232022202420232022
Derivative instruments in cash flow hedges      
Interest rate contracts$— $— $— Cost of financing$(2)$(3)$(4)$— $— $— 
Interest expense(13)(15)(14)— — — 
Foreign exchange contractsCost of services22 (5)24 — — — 
Amount included in the assessment of effectiveness405 213 241 Cost of sales40 22 99 — — — 
Amount excluded from the assessment of effectiveness(16)(6)— Cost of financing(4)(11)(21)— — — 
SG&A expense16 12 38 — — — 
Other (income) and expense
(48)239 349 (77)(29)— 
Interest expense(19)(51)(72)— — — 
Instruments in net investment hedges (2)
Foreign exchange contractsCost of financing— — — 18 22 14 
Amount included in the assessment of effectiveness1,354 (397)1,613 Interest expense— — — 91 105 50 
Amount excluded from the assessment of effectiveness4 — — 
Total$1,747 $(190)$1,854 $(7)$189 $400 $32 $98 $64 
(1)Amounts excluded from effectiveness testing for both net investment hedges and cash flow hedges of foreign currency debt are amortized to net income on a straight-line basis over the life of the relevant hedging instrument.
(2)Instruments in net investment hedges include derivative and non-derivative instruments with the amounts recognized in OCI providing an offset to the translation of foreign subsidiaries.
N/A–Not applicable