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FINANCIAL INSTRUMENTS (Tables)
 12 Months Ended
Dec. 31, 2020
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Summary of foreign exchange derivative contracts outstanding The following foreign currency derivative contracts were outstanding:
Foreign currency derivatives (in millions)*
Functional currencyTraded currencyNotional in traded currency
December 31, 2020		Notional in traded currency
December 31, 2019		Ending duration
British poundEuro97 9 22-Dec
Chinese renminbiU.S. dollar113 2 22-Dec
EuroPolish Zloty147 — 22-Dec
EuroU.S. dollar41 18 21-Dec
Korean wonEuro2 13 21-Dec
Korean wonU.S. dollar19 4 21-Dec
U.S. dollarEuro55 14 22-Dec
U.S. dollarMexico peso1,178 — 22-Dec
U.S. dollarSingapore dollar47 — 22-Dec
U.S. dollarKorean won15,000 — 21-Apr
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*Table above excludes non-significant traded currency pairings with total notional amounts less than $10 million U.S. dollar equivalent as of December 31, 2020 or 2019.
Schedule of foreign exchange contracts, statement of financial position At December 31, 2020 and 2019, the following cross-currency swap contracts were outstanding:
Cross-currency swaps
(in millions)
December 31, 2020December 31, 2019Ending duration
U.S. dollar to Euro:
Fixed receiving notional$1,100 $— Jul - 27
Fixed paying notional€976 €— Jul - 27
U.S. dollar to Euro:
Fixed receiving notional$500 $500 Mar - 25
Fixed paying notional€450 €450 Mar - 25
U.S. dollar to Japanese yen:
Fixed receiving notional$100 $100 Feb - 23
Fixed paying notional¥10,978 ¥10,978 Feb - 23
Schedule of derivative instruments in statement of financial position
At December 31, 2020 and 2019, the following amounts were recorded in the Consolidated Balance Sheets as being payable to or receivable from counterparties under ASC Topic 815:
(in millions)
AssetsLiabilities
Derivatives designated as hedging instruments Under Topic 815:Balance Sheet LocationDecember 31, 2020December 31, 2019Balance Sheet LocationDecember 31, 2020December 31, 2019
Foreign currencyPrepayments and other current assets$1 $— Other current liabilities$4 $1 
 Other non-current assets$— $— Other non-current liabilities$1 $— 
Net investment hedgesOther non-current assets$— $3 Other non-current liabilities$161 $8 
Derivatives not designated as hedging instruments:
Foreign currencyPrepayments and other current assets$4 $— Other current liabilities$1 $— 
Schedule of cash flow hedges included in accumulated other comprehensive income (loss)
(in millions)Deferred gain (loss) in AOCI atGain (loss) expected to be reclassified to income in one year or less
Contract TypeDecember 31, 2020December 31, 2019
Net investment hedges:
    Foreign currency$3 $5 $— 
    Cross-currency swaps(139)16 — 
    Foreign currency denominated debt(68)(17)— 
Total$(204)$4 $— 
(in millions)
Year Ended December 31,
Net investment hedges202020192018
Foreign currency$(2)$1 $2 
Cross-currency swaps$(155)$4 $12 
Foreign currency denominated debt$(51)$13 $27 
Schedule of derivative instruments Derivative instruments designated as hedging instruments as defined by ASC Topic 815 held during the period resulted in the following gains and losses recorded in income:
Year ended December 31, 2020
(in millions)Net salesCost of salesSelling, general and administrative expensesOther comprehensive income
Total amounts of earnings and other comprehensive income line items in which the effects of cash flow hedges are recorded$10,165 $8,255 $951 $76 
Gain (loss) on cash flow hedging relationships:
Foreign currency
Gain (loss) recognized in other comprehensive income$(1)
    Gain (loss) reclassified from AOCI to income$— $1 $(2)$— 
Year ended December 31, 2019
(in millions)
Net salesCost of salesSelling, general and administrative expensesOther comprehensive income
Total amounts of earnings and other comprehensive income line items in which the effects of cash flow hedges are recorded$10,168 $8,067 $873 $(53)
Gain (loss) on cash flow hedging relationships:
Foreign currency
Gain (loss) recognized in other comprehensive income$(1)
    Gain (loss) reclassified from AOCI to income$(5)$1 $3 $— 
Year ended December 31, 2018
(in millions)Net salesCost of salesSelling, general and administrative expensesOther comprehensive income
Total amounts of earnings and other comprehensive income line items in which the effects of cash flow hedges are recorded$10,530 $8,300 $946 $(170)
Gain (loss) on cash flow hedging relationships:
Foreign currency
Gain (loss) recognized in other comprehensive income$(1)
    Gain (loss) reclassified from AOCI to income$(2)$(1)$— $— 
Derivative instruments, gain (loss)
Derivatives designated as net investment hedge instruments as defined by ASC Topic 815 held during the period resulted in the following gains and (losses) recorded in Interest expense and finance charges on components excluded from the assessment of effectiveness:
(in millions)
Year Ended December 31,
Net investment hedges202020192018
Foreign currency$— $— $1 
Cross-currency swaps$18 $11 $9 
Schedule of derivatives not designated as hedging instruments
Derivatives not designated as hedging instruments are used to hedge remeasurement exposures of monetary assets and liabilities denominated in currencies other than the operating units' functional currency. These derivatives resulted in the following gains and (losses) recorded to income:
(in millions)Year Ended December 31,
Contract TypeLocation202020192018
Foreign CurrencySelling, general and administrative expenses$3 $(3)$1