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Derivative Instruments and Hedging Activities (Tables)
6 Months Ended
Jun. 30, 2021
Derivative Instruments And Hedging Activities Disclosure [Abstract]  
Effect of Derivative Instruments Designated as Cash Flow Hedges and Not Designated as Hedges on Consolidated Statement of (Loss) Income

The effect of derivative instruments designated as cash flow hedges, and those not designated as hedges, on the Consolidated Statement of Income (Loss) was as follows:

 

 

 

 

 

 

 

 

 

 

(Stated in millions)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Gain (Loss) Recognized in Income (Loss)

 

 

 

 

Second Quarter

 

 

Six Months

 

 

 

 

2021

 

 

2020

 

 

2021

 

 

2020

 

 

Consolidated Statement of Income (Loss) Classification

Derivatives designated as cash flow hedges:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Cross currency swaps

$

38

 

 

$

92

 

 

$

(178

)

 

$

150

 

 

Cost of services/sales

Foreign exchange contracts

 

3

 

 

 

(4

)

 

 

5

 

 

 

(5

)

 

Cost of services/sales

 

$

41

 

 

$

88

 

 

$

(173

)

 

$

145

 

 

 

Derivatives not designated as hedges:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Foreign exchange contracts

$

(32

)

 

$

11

 

 

$

(26

)

 

$

2

 

 

Cost of services/sales