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Financial Instruments, Hedging Activities and Fair Value Measurements (Tables)
 3 Months Ended
Mar. 31, 2025
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Fair Value, Cash Flow and Net Investment Hedges
The following table summarizes the amount of gains and losses deferred in Other comprehensive income ("OCI") and the amount and location of gains and losses recognized within the condensed consolidated statement of income related to derivative and debt financial instruments for the three months ended March 31, 2025 and 2024. All amounts are shown on a pretax basis.
March 31, 2025March 31, 2024Caption In Condensed Consolidated Statement of Income
($ in millions)Loss Deferred in OCIGain/(Loss) RecognizedGain Deferred in OCIGain/(Loss) Recognized
Economic
   Foreign currency forward contracts
$— $16 $— $13 Other (income)/charges, net
Fair Value
   Interest rate swaps
— (2)— (3)Interest expense
Total forward contracts and interest rate swaps$— $14 $— $10 
Net Investment
Cross currency swaps($11)$2 $9 $2 Interest expense
Foreign denominated debt(174)— 74 — 
Total Net Investment($185)$2 $83 $2 
Assets and Liabilities Reported at Fair Value on a Recurring Basis
Assets and liabilities reported at fair value on a recurring basis
March 31, 2025December 31, 2024
($ in millions)Level 1Level 2Level 3Level 1Level 2Level 3
Assets:
Other current assets:
Marketable equity securities$10 $— $— $9 $— $— 
Foreign currency forward contracts (a)
— 18 — — 5 — 
Investments:
Marketable equity securities$72 $— $— $85 $— $— 
Other assets:
Cross currency swaps (b)
$— $39 $— $— $50 $— 
Liabilities:
Accounts payable and accrued liabilities:
Foreign currency forward contracts (a)
$— $49 $— $— $58 $— 
Other liabilities:
Interest rate swaps (c)
$— $11 $— $— $16 $— 
(a)Derivatives not designated as hedging instruments
(b)Net investment hedges
(c)Fair value hedges
Schedule of Long-term Debt Instruments
($ in millions)
March 31, 2025(a)
December 31, 2024 (b)
Long-term debt - carrying value$7,243 $5,801 
Long-term debt - fair value$7,100 $5,634 
(a)Excludes finance lease obligations of $6 million and short-term borrowings of $13 million as of March 31, 2025.
(b)Excludes finance lease obligations of $7 million and short-term borrowings of $7 million as of December 31, 2024.