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DERIVATIVE INSTRUMENTS AND HEDGING TRANSACTIONS (Tables)
 12 Months Ended
Dec. 31, 2024
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:
NotionalFair Value AssetFair Value (Liability)
December 31, 2024December 31, 2023December 31, 2024December 31, 2023December 31, 2024December 31, 2023
Derivatives in fair value hedging relationships   
Interest rate swap agreements$3,899 $4,717 $3 $18 $(139)$(184)
Derivatives in cash flow hedging relationships
Foreign currency exchange contracts1,235 712 30 28 (10)(4)
Commodity contracts1 6 — — — (1)
Derivatives in net investment hedging relationships
Cross currency swap agreements7,214 4,264 124 — (56)(145)
Total derivatives designated as hedging instruments12,349 9,699 157 46 (205)(334)
Derivatives not designated as hedging instruments
Foreign currency exchange contracts8,773 8,198 3 7 (5)(5)
Total derivatives at fair value$21,122 $17,897 $160 $53 $(210)$(339)
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:
Carrying Amount
of Hedged Item		Cumulative Amount of
Fair Value Hedging Adjustment
Included in the Carrying
Amount of Hedged Item
December 31, 2024December 31, 2023December 31, 2024December 31, 2023
Long-term debt$3,763 $4,551 $(136)$(166)
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, 2024
Net SalesCost of
Products Sold		Cost of
Services Sold
Selling, General and
Administrative Expenses
Other
(Income) Expense
Interest and Other
Financial Charges
$38,498 $17,227 $6,609 $5,466 $(830)$1,058 
Gain (loss) on cash flow hedges
Foreign currency exchange contracts
Amount reclassified from accumulated other comprehensive loss into income2 8 3 4 — — 
Gain (loss) on fair value hedges
Interest rate swap agreements
Hedged items— — — — — (30)
Derivatives designated as hedges— — — — — 30 
Gain (loss) on derivatives not designated as hedging instruments
Foreign currency exchange contracts— — — — 105 — 
 Year Ended December 31, 2023
Net SalesCost of
Products Sold
Cost of
Services Sold
Selling, General and
Administrative Expenses
Other
(Income) Expense
Interest and Other
Financial Charges
$36,662 $16,977 $6,018 $5,127 $(840)$765 
Gain (loss) on cash flow hedges
Foreign currency exchange contracts
Amount reclassified from accumulated other comprehensive loss into income15 28 10 10 — — 
Gain (loss) on fair value hedges
Interest rate swap agreements
Hedged items— — — — — (121)
Derivatives designated as hedges— — — — — 121 
Gain (loss) on derivatives not designated as hedging instruments
Foreign currency exchange contracts— — — — (116)— 
 Year Ended December 31, 2022
Net SalesCost of
Products Sold
Cost of
Services Sold
Selling, General and
Administrative Expenses
Other
(Income) Expense
Interest and Other
Financial Charges
$35,466 $16,955 $5,392 $5,214 $(366)$414 
Gain (loss) on cash flow hedges
Foreign currency exchange contracts
Amount reclassified from accumulated other comprehensive loss into income13 50 14 (3)— — 
Commodity contracts
Amount reclassified from accumulated other comprehensive loss into income— (2)— — — — 
Gain (loss) on fair value hedges
Interest rate swap agreements
Hedged items— — — — — 347 
Derivatives designated as hedges— — — — — (347)
Gain (loss) on net investment hedges
Foreign currency exchange contracts
Amount excluded from effectiveness testing recognized in earnings using an amortization approach— — — — — 13 
Gain (loss) on derivatives not designated as hedging instruments
Foreign currency exchange contracts— — — — 351 — 
Schedule of Net Investment Hedges in Accumulated Other Comprehensive Income (Loss)
The following table summarizes the amount of pre-tax gain or (loss) on net investment hedges recognized in Accumulated other comprehensive loss:
Years Ended December 31,
20242023
Euro-denominated long-term debt$249 $(84)
Euro-denominated commercial paper72 (42)
Cross currency swap agreements190 (193)