v3.25.2
HEDGES AND DERIVATIVE FINANCIAL INSTRUMENTS - Schedule of Effects of Derivative Instruments on Consolidated Condensed Statements of Income (Details) - USD ($)
$ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
Derivative Instruments, Gain (Loss) [Line Items]        
Gain (Loss) Recognized in OCI (Effective Portion) $ (108) $ 52 $ (145) $ 85
Gain (Loss) Reclassified from OCI into Earnings (Effective Portion) (56) 7 (38) 9
Tax impact of cash flow hedges 14 (14)    
Foreign exchange forwards/options        
Derivative Instruments, Gain (Loss) [Line Items]        
Gain (Loss) Recognized on Derivatives not Accounted for as Hedges     (36) 8
Foreign exchange forwards/options | Interest and sundry (income) expense        
Derivative Instruments, Gain (Loss) [Line Items]        
Gain (Loss) Recognized on Derivatives not Accounted for as Hedges (25) 10    
Cash flow hedges        
Derivative Instruments, Gain (Loss) [Line Items]        
Tax impact of cash flow hedges     30 (23)
Cash flow hedges | Commodity swaps/options        
Derivative Instruments, Gain (Loss) [Line Items]        
Gain (Loss) Recognized in OCI (Effective Portion) (1) 14 4 19
Cash flow hedges | Commodity swaps/options | Cost of products sold        
Derivative Instruments, Gain (Loss) [Line Items]        
Gain (Loss) Reclassified from OCI into Earnings (Effective Portion) (2) 2 (1) 0
Cash flow hedges | Foreign exchange forwards/options        
Derivative Instruments, Gain (Loss) [Line Items]        
Gain (Loss) Recognized in OCI (Effective Portion) (47) 29 (72) 44
Cash flow hedges | Foreign exchange forwards/options | Cost of products sold        
Derivative Instruments, Gain (Loss) [Line Items]        
Gain (Loss) Reclassified from OCI into Earnings (Effective Portion) 3 (3) 8 (16)
Cash flow hedges | Foreign exchange forwards/options | Net sales        
Derivative Instruments, Gain (Loss) [Line Items]        
Gain (Loss) Reclassified from OCI into Earnings (Effective Portion) (1) 0 (1) 1
Cash flow hedges | Foreign exchange forwards/options | Interest and sundry (income) expense        
Derivative Instruments, Gain (Loss) [Line Items]        
Gain (Loss) Reclassified from OCI into Earnings (Effective Portion) 3 3 13 2
Cash flow hedges | Cross-currency swaps        
Derivative Instruments, Gain (Loss) [Line Items]        
Gain (Loss) Recognized in OCI (Effective Portion) (60) 9 (77) 22
Cash flow hedges | Cross-currency swaps | Interest and sundry (income) expense        
Derivative Instruments, Gain (Loss) [Line Items]        
Gain (Loss) Reclassified from OCI into Earnings (Effective Portion) $ (59) $ 5 (87) 22
Cash flow hedges | Interest rate derivatives | Interest and sundry (income) expense        
Derivative Instruments, Gain (Loss) [Line Items]        
Gain (Loss) Reclassified from OCI into Earnings (Effective Portion)     $ 30 $ 0