XML 62 R46.htm IDEA: XBRL DOCUMENT v3.25.2
Financial Instruments and Risk Management (Tables)
6 Months Ended
Jun. 30, 2025
Financial Instruments and Risk Management  
Schedule of additional information related to the commercial risk management instruments

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($ in millions)

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June 30, 2025

Commercial risk area

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Commodity

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Currency

    

Interest Rate

    

Net Investment

​

​

​

​

​

​

​

​

​

​

​

​

​

Notional amount of contracts

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$

1,586

​

$

3,064

​

$

600

​

€

1,050

Net gain (loss) included in AOCI, after-tax

​

​

(11)

​

​

(3)

​

​

1

​

​

(90)

Net gain (loss) included in AOCI, after-tax, expected to be recognized in net earnings within the next 12 months

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​

(11)

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​

(3)

​

​

2

​

​

—

​

​

​

​

​

​

​

​

​

​

​

​

​

Longest duration of forecasted hedge transactions in years

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​

2

​

​

2

​

​

2

​

​

4

Schedule of fair value of derivative instruments

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​

​

​

​

​

​

​

​

​

​

​

​

​

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June 30, 2025

($ in millions)

Balance Sheet Location

    

Derivatives
Designated
as Hedging
Instruments

    

Derivatives not
Designated as
Hedging
Instruments

    

Total

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​

​

​

​

​

​

​

​

​

​

Assets:

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​

​

​

​

​

​

​

​

​

Commodity contracts

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​

$

28

​

$

—

​

$

28

Currency contracts

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​

​

—

​

​

24

​

​

24

Interest rate and other contracts

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​

​

3

​

​

2

​

​

5

Total current derivative contracts

Other current assets

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$

31

​

$

26

​

$

57

​

​

​

​

​

​

​

​

​

​

​

Commodity contracts

​

​

$

2

​

$

—

​

$

2

Currency contracts

​

​

​

—

​

​

1

​

​

1

Total noncurrent derivative contracts

Other noncurrent assets

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$

2

​

$

1

​

$

3

 

​

​

​

​

​

​

​

​

​

​

Liabilities:

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​

​

​

​

​

​

​

​

​

Commodity contracts

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​

$

36

​

$

9

​

$

45

Currency contracts

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​

​

48

​

​

54

​

​

102

Total current derivative contracts

Other current liabilities

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$

84

​

$

63

​

$

147

​

​

​

​

​

​

​

​

​

​

​

Commodity contracts

​

​

$

1

​

$

—

​

$

1

Interest rate and other contracts

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​

​

2

​

​

—

​

​

2

Net investment hedge

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​

​

110

​

​

—

​

​

110

Total noncurrent derivative contracts

Other noncurrent liabilities

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$

113

​

$

—

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$

113

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​

​

​

​

​

​

​

​

​

​

​

​

​

​

December 31, 2024

($ in millions)

Balance Sheet Location

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Derivatives
Designated
as Hedging
Instruments

    

Derivatives not
Designated as
Hedging
Instruments

    

Total

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​

​

​

​

​

​

​

​

​

​

Assets:

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​

​

​

​

​

​

​

​

​

Commodity contracts

​

​

$

26

​

$

—

​

$

26

Currency contracts

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​

​

—

​

​

36

​

​

36

Interest rate and other contracts

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​

​

4

​

​

—

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​

4

Total current derivative contracts

Other current assets

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$

30

​

$

36

​

$

66

​

​

​

​

​

​

​

​

​

​

​

Currency contracts

​

​

$

51

​

$

—

​

$

51

Interest rate and other contracts

​

​

​

6

​

​

—

​

​

6

Net investment hedge

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​

​

20

​

​

—

​

​

20

Total noncurrent derivative contracts

Other noncurrent assets

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$

77

​

$

—

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$

77

 

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​

​

​

​

​

​

​

​

​

Liabilities:

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​

​

​

​

​

​

​

​

​

Commodity contracts

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​

$

7

​

$

—

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$

7

Currency contracts

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​

​

—

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13

​

​

13

Total current derivative contracts

Other current liabilities

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$

7

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$

13

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$

20

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​

​

​

​

​

​

​

​

​

​

Commodity contracts

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​

$

1

​

$

—

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$

1

Other contracts

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​

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—

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12

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​

12

Total noncurrent derivative contracts

Other noncurrent liabilities

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$

1

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$

12

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$

13

Schedule of impact on earnings from derivative instruments

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​

Three Months Ended June 30,

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​

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2025

​

2024

($ in millions)

    

Location of Gain (Loss)
Recognized in Earnings on Derivatives

    

Cash Flow
Hedge -
Reclassified
Amount from
Accumulated
Other
Comprehensive
Earnings (Loss)

​

Gain (Loss) on
Derivatives not
Designated as
Hedge
Instruments

    

Cash Flow
Hedge -
Reclassified
Amount from
Accumulated
Other
Comprehensive
Earnings (Loss)

    

Gain (Loss) on
Derivatives not
Designated as
Hedge
Instruments

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​

​

​

​

​

​

​

​

​

​

​

​

​

​

Commodity contracts - manage exposure to customer pricing

​

Net sales

​

$

17

​

$

—

​

$

(19)

​

$

—

Commodity contracts - manage exposure to supplier pricing

​

Cost of sales

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​

(1)

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​

6

​

​

4

​

​

(9)

Interest rate contracts - manage exposure for outstanding debt

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Interest expense

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​

3

​

​

—

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​

3

​

​

—

Currency contracts - manage currency exposure

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Selling, general and administrative

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​

(73)

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​

(99)

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16

​

​

29

Equity contracts

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Selling, general and administrative

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​

—

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​

4

​

​

—

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(11)

Total

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​

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$

(54)

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$

(89)

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$

4

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$

9

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​

​

​

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​

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​

​

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​

​

​

​

​

​

​

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​

​

Six Months Ended June 30,

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2025

​

2024

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($ in millions)

    

Location of Gain (Loss)
Recognized in Earnings on Derivatives

    

Cash Flow
Hedge -
Reclassified
Amount from
Accumulated
Other
Comprehensive
Earnings (Loss)

    

Gain (Loss) on
Derivatives not
Designated as
Hedge
Instruments

    

Cash Flow
Hedge -
Reclassified
Amount from
Accumulated
Other
Comprehensive
Earnings (Loss)

    

Gain (Loss) on
Derivatives not
Designated as
Hedge
Instruments

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​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Commodity contracts - manage exposure to customer pricing

​

Net sales

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$

12

​

$

—

​

$

(6)

​

$

—

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Commodity contracts - manage exposure to supplier pricing

​

Cost of sales

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​

2

​

​

6

​

​

(10)

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​

(6)

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Interest rate contracts - manage exposure for outstanding debt

​

Interest expense

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​

3

​

​

—

​

​

6

​

​

—

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Currency contracts - manage currency exposure

​

Selling, general and administrative

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​

(101)

​

​

(170)

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​

48

​

​

56

​

Equity contracts

​

Selling, general and administrative

​

​

—

​

​

(1)

​

​

—

​

​

3

​

Total

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​

​

$

(84)

​

$

(165)

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$

38

​

$

53

​

​

​

Schedule of changes in accumulated other comprehensive earnings (loss) for effective derivatives

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​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Three Months Ended June 30,

​

Six Months Ended June 30,

($ in millions)

    

2025

    

2024

    

2025

    

2024

​

​

​

​

​

​

​

​

​

​

​

​

​

Amounts reclassified into earnings:

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​

​

​

​

​

​

​

​

​

​

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Commodity contracts

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$

(16)

​

$

15

​

$

(14)

​

$

16

Interest rate contracts

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​

(3)

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​

(3)

​

​

(3)

​

​

(6)

Currency exchange contracts

​

​

73

​

​

(16)

​

​

101

​

​

(48)

Change in fair value of hedges:

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​

​

​

​

​

​

​

​

​

​

​

Commodity contracts

​

​

(19)

​

​

9

​

​

(19)

​

​

10

Interest rate contracts

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​

(2)

​

​

4

​

​

(6)

​

​

16

Currency exchange contracts

​

​

(69)

​

​

16

​

​

(97)

​

​

45

Net investment hedge

​

​

(84)

​

​

—

​

​

(106)

​

​

—

Currency and tax impacts

​

​

9

​

​

(6)

​

​

8

​

​

(9)

​

​

$

(111)

​

$

19

​

$

(136)

​

$

24

​