DERIVATIVE INSTRUMENTS AND HEDGING TRANSACTIONS (Tables)

6 Months Ended

Jun. 30, 2021

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Derivative Instruments in Statement of Financial Position, Fair Value [Table Text Block]

The following table summarizes the notional amounts and fair values of the Company’s outstanding derivatives by risk category and instrument type within the Consolidated Balance Sheet as of June 30, 2021, and December 31, 2020:

	Notional				Fair Value Asset				Fair Value (Liability)
	June 30, 2021		December 31, 2020		June 30, 2021		December 31, 2020		June 30, 2021		December 31, 2020
Derivatives in Fair Value Hedging Relationships:
Interest rate swap agreements	$	3,150	$	3,950	$	115	$	194	$	—	$	—
Derivatives in Cash Flow Hedging Relationships:
Foreign currency exchange contracts	411		488		18		65		—		(58)
Derivatives in Net Investment Hedging Relationships:
Foreign currency exchange contracts	772		806		63		45		—		(1)
Cross currency swap agreements	1,200		1,200		—		—		(15)		(50)
Total Derivatives Designated as Hedging Instruments	5,533		6,444		196		304		(15)		(109)
Derivatives Not Designated as Hedging Instruments:
Foreign currency exchange contracts	13,196		14,829		192		92		(193)		(91)
Total Derivatives at Fair Value	$	18,729	$	21,273	$	388	$	396	$	(208)	$	(200)

Schedule of Derivative Instruments [Table Text Block]

The following table sets forth the amounts recorded on the Consolidated Balance Sheet related to cumulative basis adjustments for fair value hedges:

Line in the Consolidated Balance Sheet of Hedged Item	Carrying Amount of the Hedged Item				Cumulative Amount of Fair Value Hedging Adjustment Included in the Carrying Amount of the Hedged Item
	June 30, 2021		December 31, 2020		June 30, 2021		December 31, 2020
Long-term debt	$	3,265	$	4,144	$	115	$	194

Derivative Instruments, Gain (Loss) [Table Text Block]

The following tables summarize the location and impact to the Consolidated Statement of Operations related to derivative instruments:

	Three Months Ended June 30, 2021
	Revenue		Cost of Products and Services Sold		SG&A		Other (Income) Expense		Interest and Other Financial Charges
	$	8,808	$	6,003	$	1,207	$	(366)	$	83
Gain or (loss) on cash flow hedges:
Foreign Currency Exchange Contracts:
Amount reclassified from accumulated other comprehensive income into income	1		3		2		—		—
Gain or (loss) on fair value hedges:
Interest Rate Swap Agreements:
Hedged items	—		—		—		—		(14)
Derivatives designated as hedges	—		—		—		—		14
Gain or (loss) on net investment hedges:
Foreign Currency Exchange Contracts:
Amount excluded from effectiveness testing recognized in earnings using an amortization approach	—		—		—		—		4
Gain or (loss) on derivatives not designated as hedging instruments:
Foreign currency exchange contracts	—		—		—		(71)		—

	Three Months Ended June 30, 2020
	Revenue		Cost of Products and Services Sold		SG&A		Other (Income) Expense		Interest and Other Financial Charges
	$	7,477	$	5,276	$	1,183	$	(291)	$	90
Gain or (loss) on cash flow hedges:
Foreign Currency Exchange Contracts:
Amount reclassified from accumulated other comprehensive income into income	(1)		3		(3)		(42)		—
Amount excluded from effectiveness testing recognized in earnings using an amortization approach	—		4		—		9		—
Gain or (loss) on fair value hedges:
Interest Rate Swap Agreements:
Hedged items	—		—		—		—		(14)
Derivatives designated as hedges	—		—		—		—		14
Gain or (loss) on net investment hedges:
Foreign Currency Exchange Contracts:
Amount excluded from effectiveness testing recognized in earnings using an amortization approach	—		—		—		—		4
Gain or (loss) on derivatives not designated as hedging instruments:
Foreign currency exchange contracts	—		—		—		(217)		—

	Six Months Ended June 30, 2021
	Revenue		Cost of Products and Services Sold	SG&A		Other (Income) Expense	Interest and Other Financial Charges
	$	17,262	11,712	$	2,443	(808)	$	173
Gain or (loss) on cash flow hedges:
Foreign currency exchange contracts:
Amount reclassified from accumulated other comprehensive income into income	2		4	4		—	—
Gain or (loss) on fair value hedges:
Interest rate swap agreements:
Hedged items	—		—	—		—	80
Derivatives designated as hedges	—		—	—		—	(80)
Gain or (loss) on net investment hedges:
Foreign Currency Exchange Contracts:
Amount excluded from effectiveness testing recognized in earnings using an amortization approach	—		—	—		—	8
Gain or (loss) on derivatives not designated as hedging instruments:
Foreign currency exchange contracts	—		—	—		(11)	—

	Six Months Ended June 30, 2020
	Revenue		Cost of Products and Services Sold		SG&A		Other (Income) Expense		Interest and Other Financial Charges
	$	15,940	$	10,810	$	2,421	$	(608)	$	163
Gain or (loss) on cash flow hedges:
Foreign currency exchange contracts:
Amount reclassified from accumulated other comprehensive income into income	(1)		30		(3)		(2)		—
Amount excluded from effectiveness testing recognized in earnings using an amortization approach	—		8		—		17		—
Gain or (loss) on fair value hedges:
Interest rate swap agreements:
Hedged items	—		—		—		—		(219)
Derivatives designated as hedges	—		—		—		—		219
Gain or (loss) on net investment hedges:
Foreign Currency Exchange Contracts:
Amount excluded from effectiveness testing recognized in earnings using an amortization approach	—		—		—		—		9
Gain or (loss) on derivatives not designated as hedging instruments:
Foreign currency exchange contracts	—		—		—		67		—

Schedule of Net Investment Hedges in Accumulated Other Comprehensive Income (Loss) [Table Text Block]

The following table summarizes the amounts of gain or (loss) on net investment hedges recognized in Accumulated other comprehensive income (loss):

Derivatives Net Investment Hedging Relationships	Three Months Ended June 30,				Six Months Ended June 30,
	2021		2020		2021		2020
Euro-denominated long-term debt	$	(15)	$	(62)	$	135	$	62
Euro-denominated commercial paper	(3)		(15)		27		55
Cross currency swap	(16)		7		28		(19)
Foreign currency exchange contracts	14		(102)		12		(18)