DERIVATIVE INSTRUMENTS AND HEDGING TRANSACTIONS (Tables)

12 Months Ended

Dec. 31, 2022

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Derivative Instruments in Statement of Financial Position, Fair Value

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:

	Notional						Fair Value Asset						Fair Value (Liability)
	December 31, 2022			December 31, 2021			December 31, 2022			December 31, 2021			December 31, 2022			December 31, 2021
Derivatives in fair value hedging relationships:
Interest rate swap agreements		$	4,984		$	3,150		$	16		$	60		$	(303)		$	—
Derivatives in cash flow hedging relationships:
Foreign currency exchange contracts		866			647			19			4			(5)			—
Commodity contracts		9			—			—			—			(1)			—
Derivatives in net investment hedging relationships:
Foreign currency exchange contracts		—			746			—			92			—			—
Cross currency swap agreements		3,189			1,200			90			39			—			—
Total derivatives designated as hedging instruments		9,048			5,743			125			195			(309)			—
Derivatives not designated as hedging instruments:
Foreign currency exchange contracts		9,679			11,278			74			278			(3)			(282)
Total derivatives at fair value		$	18,727		$	17,021		$	199		$	473		$	(312)		$	(282)

Schedule of Derivative Instruments

The following table sets forth the amounts recorded in 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 Hedged Item						Cumulative Amount of Fair Value Hedging Adjustment Included in the Carrying Amount of Hedged Item
	December 31, 2022			December 31, 2021			December 31, 2022			December 31, 2021
Long-term debt		$	4,696		$	3,210		$	(287)		$	60

Derivative Instruments, Gain (Loss)

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

	Year Ended December 31, 2022
	Net Sales			Cost of Products Sold			Cost of Services Sold			Selling, General and Administrative Expenses			Other (Income) Expense			Interest and Other Financial Charges
		$	35,466		$	18,263		$	5,562		$	5,214		$	(366)		$	414
Gain or (loss) on cash flow hedges:
Foreign currency exchange contracts:
Amount reclassified from accumulated other comprehensive income into income		13			50			14			(3)			—			—
Commodity contracts:
Amount reclassified from accumulated other comprehensive income into income		—			(2)			—			—			—			—
Gain or (loss) on fair value hedges:
Interest rate swap agreements:
Hedged items		—			—			—			—			—			347
Derivatives designated as hedges		—			—			—			—			—			(347)
Gain or (loss) on net investment hedges:
Foreign currency exchange contracts:
Amount excluded from effectiveness testing recognized in earnings using an amortization approach		—			—			—			—			—			13
Gain or (loss) on derivatives not designated as hedging instruments:
Foreign currency exchange contracts		—			—			—			—			351			—

	Year Ended December 31, 2021
	Net Sales			Cost of Products Sold			Cost of Services Sold			Selling, General and Administrative Expenses			Other (Income) Expense			Interest and Other Financial Charges
		$	34,392		$	18,344		$	5,050		$	4,798		$	(1,378)		$	343
Gain or (loss) on cash flow hedges:
Foreign currency exchange contracts:
Amount reclassified from accumulated other comprehensive income into income		5			8			2			9			—			—
Gain or (loss) on fair value hedges:
Interest rate swap agreements:
Hedged items		—			—			—			—			—			135
Derivatives designated as hedges		—			—			—			—			—			(135)
Gain or (loss) on net investment hedges:
Foreign currency exchange contracts:
Amount excluded from effectiveness testing recognized in earnings using an amortization approach		—			—			—			—			—			16
Gain or (loss) on derivatives not designated as hedging instruments:
Foreign currency exchange contracts		—			—			—			—			195			—

	Year Ended December 31, 2020
	Net Sales			Cost of Products Sold			Cost of Services Sold			Selling, General and Administrative Expenses			Other (Income) Expense			Interest and Other Financial Charges
		$	32,637		$	17,638		$	4,531		$	4,772		$	(675)		$	359
Gain or (loss) on cash flow hedges:
Foreign currency exchange contracts:
Amount reclassified from accumulated other comprehensive income into income		(3)			43			11			(4)			28			—
Amount excluded from effectiveness testing recognized in earnings using an amortization approach		—			10			3			—			29			—
Gain or (loss) on fair value hedges:
Interest rate swap agreements:
Hedged items		—			—			—			—			—			(169)
Derivatives designated as hedges		—			—			—			—			—			169
Gain or (loss) on net investment hedges:
Foreign currency exchange contracts:
Amount excluded from effectiveness testing recognized in earnings using an amortization approach		—			—			—			—			—			18
Gain or (loss) on derivatives not designated as hedging instruments:
Foreign currency exchange contracts		—			—			—			—			(166)			—

Schedule of Net Investment Hedges in Accumulated Other Comprehensive Income (Loss)

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	Years Ended December 31,
	2022			2021
Euro-denominated long-term debt		$	196		$	284
Euro-denominated commercial paper		39			57
Cross currency swap agreements		(65)			88
Foreign currency exchange contracts		34			40