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Derivative Instruments and Fair Value Measurements (Tables)
 9 Months Ended
Sep. 30, 2023
Derivative Instruments and Fair Value Measurements [Abstract]  
Schedule of Total Notional Amounts of Derivative Instruments
Total notional amounts of the Company’s derivative instruments as of September 30, 2023 and December 31, 2022 were as follows:
(millions)September 30,
2023		December 31,
2022
Foreign currency exchange contracts$2,826 $2,502 
Cross-currency contracts1,925 1,983 
Interest rate contracts2,251 2,657 
Commodity contracts376 230 
Total$7,378 $7,372 
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block]
The following table presents assets and liabilities that were measured at fair value in the Consolidated Balance Sheet on a recurring basis as of September 30, 2023 and December 31, 2022:
Derivatives designated as hedging instruments
 September 30, 2023December 31, 2022
(millions)Level 1Level 2TotalLevel 1Level 2Total
Assets:
Cross-currency contracts:
Other current assets$— $77 $77 $— $88 $88 
Other assets— 25 25 — 36 36 
Interest rate contracts:
Other current assets— 23 23 — 45 45 
Other assets— — — — 25 25 
Total assets$— $125 $125 $— $194 $194 
Liabilities:
Cross-currency contracts:
Other current liabilities$— $— $— $— $— $— 
   Other liabilities— — — — — — 
Interest rate contracts(a):
Other current liabilities— (16)(16)— — — 
Other liabilities— (62)(62)— (86)(86)
Total liabilities$— $(78)$(78)$— $(86)$(86)
(a) The fair value of the related hedged portion of the Company's long-term debt, a level 2 liability, was $1.0 billion as of September 30, 2023 and $1.1 billion as of December 31, 2022.
Derivatives not designated as hedging instruments
 September 30, 2023December 31, 2022
(millions)Level 1Level 2TotalLevel 1Level 2Total
Assets:
Foreign currency exchange contracts:
Other current assets$— $56 $56 $— $74 $74 
Other assets— 7 7 — 14 14 
Interest rate contracts:
Other current assets— 9 9 — 4 4 
Other assets— 11 11 — 14 14 
Commodity contracts:
Other current assets4 — 4 4 — 4 
Total assets$4 $83 $87 $4 $106 $110 
Liabilities:
Foreign currency exchange contracts:
Other current liabilities$— $(49)$(49)$— $(50)$(50)
Other liabilities— (3)(3)— (9)(9)
Interest rate contracts:
Other current liabilities— (11)(11)— (7)(7)
Other liabilities— (14)(14)— (18)(18)
Commodity contracts:
Other current liabilities(12)— (12)(2)— (2)
Total liabilities$(12)$(77)$(89)$(2)$(84)$(86)
Schedule of Derivative Instruments in Statement of Financial Position Fair Value
The following amounts were recorded on the Consolidated Balance Sheet related to cumulative basis adjustments for existing fair value hedges as of September 30, 2023 and December 31, 2022.
(millions)Line Item in the Consolidated Balance Sheet in which the hedged item is includedCarrying amount of the hedged liabilitiesCumulative amount of fair value hedging adjustment included in the carrying amount of the hedged liabilities (a)
September 30,
2023		December 31,
2022		September 30,
2023		December 31,
2022
Interest rate contractsCurrent maturities of long-term debt$897 $483 $3 $(3)
Interest rate contractsLong-term debt$1,623 $2,250 $(59)$(74)
(a) The fair value adjustment related to current maturities of long-term debt includes $3 million and ($3) million from discontinued hedging relationships as of September 30, 2023 and December 31, 2022, respectively. The fair value adjustment related to long-term debt includes $3 million and $13 million from discontinued hedging relationships as of September 30, 2023 and December 31, 2022, respectively.
Schedule of Offsetting Assets
    
As of September 30, 2023:
  
Gross Amounts Not Offset in the
Consolidated Balance Sheet
  
  
Amounts
Presented in the
Consolidated
Balance Sheet		Financial
Instruments		Cash Collateral
Received/
Posted		Net
Amount
Total asset derivatives$212 $(138)$25 $99 
Total liability derivatives$(167)$138 $29 $— 

 
As of December 31, 2022:
  
Gross Amounts Not Offset in the
Consolidated Balance Sheet
  
  
Amounts
Presented in the
Consolidated
Balance Sheet		Financial
Instruments		Cash Collateral
Received/
Posted		Net
Amount
Total asset derivatives$304 $(153)$(33)$118 
Total liability derivatives$(172)$153 $19 $— 
Schedule of Offsetting Liabilities
    
As of September 30, 2023:
  
Gross Amounts Not Offset in the
Consolidated Balance Sheet
  
  
Amounts
Presented in the
Consolidated
Balance Sheet		Financial
Instruments		Cash Collateral
Received/
Posted		Net
Amount
Total asset derivatives$212 $(138)$25 $99 
Total liability derivatives$(167)$138 $29 $— 

 
As of December 31, 2022:
  
Gross Amounts Not Offset in the
Consolidated Balance Sheet
  
  
Amounts
Presented in the
Consolidated
Balance Sheet		Financial
Instruments		Cash Collateral
Received/
Posted		Net
Amount
Total asset derivatives$304 $(153)$(33)$118 
Total liability derivatives$(172)$153 $19 $— 
Schedule of the Effect of Derivative Instruments on the Consolidated Statements of Income and Comprehensive Income
The effect of derivative instruments on the Consolidated Statements of Income and Comprehensive Income for the quarters ended September 30, 2023 and October 1, 2022 was as follows:

Derivatives and non-derivatives in net investment hedging relationships
(millions)Gain (loss)
recognized in
AOCI		Gain (loss) excluded from assessment of hedge effectivenessLocation of gain (loss) in income of excluded component
 September 30,
2023		October 1,
2022		September 30,
2023		October 1,
2022
Foreign currency denominated long-term debt$44 $137 $— $— 
Cross-currency contracts67 123 14 11 Interest expense
Total$111 $260 $14 $11 

Derivatives not designated as hedging instruments
(millions)Location of gain
(loss) recognized
in income		Gain (loss)
recognized in
income
  September 30,
2023		October 1,
2022
Foreign currency exchange contractsCOGS$10 $14 
Foreign currency exchange contractsOther income (expense), net(1)(9)
Foreign currency exchange contractsSG&A1 3 
Interest rate contractsInterest expense— 1 
Commodity contractsCOGS(22)(1)
Total$(12)$8 
The effect of derivative instruments on the Consolidated Statements of Income and Comprehensive Income for the year-to-date periods ended September 30, 2023 and October 1, 2022 was as follows:

Derivatives and non-derivatives in net investment hedging relationships
(millions)Gain (loss)
recognized in
AOCI		Gain (loss) excluded from assessment of hedge effectivenessLocation of gain (loss) in income of excluded component
 September 30,
2023		October 1,
2022		September 30,
2023		October 1,
2022
Foreign currency denominated long-term debt$10 $339 $— $— 
Cross-currency contracts7 277 42 28 Interest expense
Total$17 $616 $42 $28 

Derivatives not designated as hedging instruments
(millions)Location of gain
(loss) recognized
in income		Gain (loss)
recognized in
income
  September 30,
2023		October 1,
2022
Foreign currency exchange contractsCOGS$(4)$34 
Foreign currency exchange contractsOther income (expense), net(11)(18)
Foreign currency exchange contractsSGA(4)8 
Interest rate contractsInterest expense— 3 
Commodity contractsCOGS(85)33 
Total$(104)$60 

The effect of fair value and cash flow hedge accounting on the Consolidated Income Statement for the quarters ended September 30, 2023 and October 1, 2022:
September 30, 2023October 1, 2022
(millions)Interest ExpenseInterest Expense
Total amounts of income and expense line items presented in the Consolidated Income Statement in which the effects of fair value or cash flow hedges are recorded$83 $39 
Gain (loss) on fair value hedging relationships:
Interest contracts:
Hedged items(1)35 
Derivatives designated as hedging instruments2 (34)
Gain (loss) on cash flow hedging relationships:
Interest contracts:
Amount of gain (loss) reclassified from AOCI into income(2)14 
The effect of fair value and cash flow hedge accounting on the Consolidated Income Statement for the year-to-date periods ended September 30, 2023 and October 1, 2022:
September 30, 2023October 1, 2022
(millions)Interest ExpenseInterest Expense
Total amounts of income and expense line items presented in the Consolidated Income Statement in which the effects of fair value or cash flow hedges are recorded$245 $149 
Gain (loss) on fair value hedging relationships:
Interest contracts:
Hedged items(5)89 
Derivatives designated as hedging instruments8 (85)
Gain (loss) on cash flow hedging relationships:
Interest contracts:
Amount of gain (loss) reclassified from AOCI into income(7)6 
Schedule of Available-for-sale Securities Reconciliation
September 30, 2023December 31, 2022
UnrealizedUnrealized
(millions)CostGain (Loss)Market ValueCostGain (Loss)Market Value
Corporate bonds$50 $(4)$46 $52 $(5)$47