v3.25.2
Financial Instruments and Hedging Activities (Tables)
 6 Months Ended
Jun. 30, 2025
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Fair Values of Derivative Instruments Included on Consolidated Balance Sheet
The following table presents the fair values of derivative instruments included on the Condensed Consolidated Balance Sheet:
  Derivative AssetsDerivative Liabilities
In millionsBalance Sheet ClassificationJune 30, 2025December 31, 2024Balance Sheet ClassificationJune 30, 2025December 31, 2024
Derivatives designated as hedging instruments
Foreign currencyPrepaid expenses and other current assets$2 $125 Accrued payroll and other liabilities$(223)$(1)
Interest ratePrepaid expenses and other current assets3 34 Accrued payroll and other liabilities(3)(6)
Foreign currencyMiscellaneous other assets— 40 Other long-term liabilities(52)— 
Interest rateMiscellaneous other assets
— — Other long-term liabilities(22)(34)
Total derivatives designated as hedging instruments$5 $199  $(300)$(41)
Derivatives not designated as hedging instruments
EquityPrepaid expenses and other current assets

$102 $135 Accrued payroll and other liabilities$— $— 
Foreign currencyPrepaid expenses and other current assets

— — Accrued payroll and other liabilities— — 
EquityMiscellaneous other assets— —   
Total derivatives not designated as hedging instruments$102 $135  $— $— 
Total derivatives$107 $334  $(300)$(41)
Derivatives Pretax Amounts Affecting Income and Other Comprehensive Income The following table presents the pre-tax amounts from derivative instruments affecting income and AOCI for the six months ended June 30, 2025 and 2024, respectively:
Location of gain or loss
recognized in income on
derivative		Gain (loss)
recognized in AOCI		Gain (loss)
reclassified into income from AOCI		Gain (loss) recognized in
income on derivative
In millions202520242025202420252024
Foreign currencyNonoperating income/expense$(192)$49 $7 $1 
Interest rateInterest expense(13)4 — 1 
Cash flow hedges$(205)$53 $7 $2 
Foreign currency denominated debtNonoperating income/expense$(1,660)$421 
Foreign currency derivativesNonoperating income/expense(273)87 
Foreign currency derivatives(1)
Interest expense$31 $18 
Net investment hedges$(1,933)$508 $31 $18 
Foreign currencyNonoperating income/expense$(6)$(6)
EquitySelling, general & administrative expenses5 (27)
Undesignated derivatives$(1)$(33)
(1)The amount of gain (loss) recognized in income related to components excluded from effectiveness testing.