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FINANCIAL INSTRUMENTS (Tables)
 12 Months Ended
Dec. 31, 2022
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of Foreign Exchange Derivative Contracts Outstanding The following foreign currency derivative contracts were outstanding and mature through the ending duration noted below:
Foreign currency derivatives (in millions)1
Functional currencyTraded currencyNotional in traded currency
December 31, 2022		Notional in traded currency
December 31, 2021		Ending duration
Brazilian RealU.S. Dollar14 23 Dec-23
British PoundEuro10 42 Feb-23
Chinese RenminbiBritish Pound23 26 Dec-23
Chinese RenminbiEuro42 26 Dec-23
Chinese RenminbiU.S. Dollar276 185 Dec-24
EuroBritish Pound63 6 Dec-24
EuroPolish Zloty489 394 Dec-24
EuroU.S. Dollar139 86 Dec-24
U.S. DollarBritish Pound17 13 Dec-23
U.S. DollarChinese Renminbi1,402 — Jun-23
U.S. DollarEuro45 28 Mar-23
U.S. DollarKorean Won51,786 49,919 Nov-23
U.S. DollarMexico Peso3,465 2,619 Dec-24
U.S. DollarSingapore Dollar— 27 N/A
U.S. DollarThailand Baht1,790 1,720 May-23
_____________________________
1 Table above excludes non-significant traded currency pairings with total notional amounts less than $10 million U.S. Dollar equivalent as of December 31, 2022 or 2021.
Schedule of Foreign Exchange Contracts, Statement of Financial Position At December 31, 2022 and 2021, the following cross-currency swap contracts were outstanding:
Cross-currency swaps
(in millions)
December 31, 2022December 31, 2021Ending duration
U.S. Dollar to Euro:
Fixed receiving notional$1,100 $1,100 Jul-27
Fixed paying notional€976 €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 Feb-23
Fixed paying notional¥— ¥10,978 Feb-23
Fixed receiving notional$100 $— Feb-29
Fixed paying notional¥12,724 ¥— Feb-29
Schedule of Derivative Instruments in Statement of Financial Position
At December 31, 2022 and 2021, the following amounts were recorded in the Consolidated Balance Sheets as being payable to or receivable from counterparties under ASC Topic 815, “Derivatives and Hedging”:
(in millions)
AssetsLiabilities
Derivatives designated as hedging instruments Under Topic 815:Balance Sheet LocationDecember 31, 2022December 31, 2021Balance Sheet LocationDecember 31, 2022December 31, 2021
Foreign currencyPrepayments and other current assets$15 $7 Other current liabilities$9 $8 
Foreign currencyOther non-current assets$— $— Other non-current liabilities$1 $— 
Net investment hedgesOther non-current assets$68 $8 Other non-current liabilities$1 $54 
Derivatives not designated as hedging instruments:
Foreign currencyPrepayments and other current assets$3 $6 Other current liabilities$1 $— 
Schedule of Cash Flow Hedges Included in Accumulated Other Comprehensive Income (Loss)
(in millions)Deferred gain (loss) in AOCI atGain (loss) expected to be reclassified to income in one year or less
Contract TypeDecember 31, 2022December 31, 2021
Net investment hedges:
    Foreign currency$(4)$(10)$— 
    Cross-currency swaps67 (46)— 
    Foreign currency-denominated debt133 66 — 
Total$196 $10 $— 
Gains and losses on derivative instruments designated as net investment hedges were recognized in other comprehensive income (loss) during the periods presented below.
(in millions)
Year Ended December 31,
Net investment hedges202220212020
Foreign currency$6 $(9)$(2)
Cross-currency swaps$129 $115 $(155)
Foreign currency-denominated debt$67 $84 $(51)
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, 2022
(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$15,801 $12,700 $1,610 $(325)
Gain (loss) on cash flow hedging relationships:
Foreign currency
Gain recognized in other comprehensive income$4 
Year ended December 31, 2021
(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$14,838 $11,983 $1,460 $100 
Gain (loss) on cash flow hedging relationships:
Foreign currency
Loss recognized in other comprehensive income$(4)
    Gain (loss) reclassified from AOCI to income$1 $(4)$(1)$— 
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 $76 
Gain (loss) on cash flow hedging relationships:
Foreign currency
Loss recognized in other comprehensive income$(1)
    Gain (loss) reclassified from AOCI to income$— $1 $(2)$— 
Schedule of Derivative Instruments, Gains
Derivatives designated as net investment hedge instruments as defined by ASC Topic 815 held during the period resulted in the following gains recorded in Interest expense on components excluded from the assessment of effectiveness:
(in millions)
Year Ended December 31,
Net investment hedges202220212020
Cross-currency swaps$26 $22 $18 
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 recorded in income:
(in millions)Year Ended December 31,
Contract TypeLocation202220212020
Foreign CurrencySelling, general and administrative expenses$22 $13 $3