v3.25.3
FINANCIAL INSTRUMENTS (Tables)
 9 Months Ended
Sep. 30, 2025
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of Fair Value of Derivative Assets The following table presents the gross fair values of our outstanding derivative instruments as of the dates indicated:
GROSS FAIR VALUE OF OUTSTANDING DERIVATIVE INSTRUMENTS
September 30, 2025
Gross Notional
All other
current assets
All other assets
All other
current
liabilities
All other
liabilities
Foreign currency exchange contracts accounted for
as hedges
$6,718
$89
$122
$35
$56
Foreign currency exchange contracts
33,745
400
174
351
170
Commodity and other contracts
395
30
21
5
5
Derivatives not accounted for as hedges
$34,140
$429
$195
$356
$175
Total gross derivatives
$40,858
$518
$317
$391
$230
Netting adjustment(a)
(291)
(152)
(289)
(152)
Net derivatives recognized in the Consolidated and
Combined Statement of Financial Position
$227
$165
$102
$78
(a) The netting of derivative receivables and payables is permitted when a legally enforceable master netting agreement exists. Amounts
include fair value adjustments related to our own and counterparty non-performance risk.
December 31, 2024
Gross Notional
All other
current assets
All other assets
All other
current
liabilities
All other
liabilities
Foreign currency exchange contracts accounted for
as hedges
$5,789
$61
$144
$58
$65
Foreign currency exchange contracts
34,244
479
159
483
144
Commodity and other contracts
436
12
20
12
2
Derivatives not accounted for as hedges
$34,681
$491
$179
$495
$146
Total gross derivatives
$40,469
$552
$323
$552
$211
Netting adjustment(a)
(383)
(166)
(381)
(166)
Net derivatives recognized in the Consolidated and
Combined Statement of Financial Position
$168
$158
$171
$46
(a) The netting of derivative receivables and payables is permitted when a legally enforceable master netting agreement exists. Amounts
include fair value adjustments related to our own and counterparty non-performance risk.
Schedule of Fair Value of Derivative Liabilities The following table presents the gross fair values of our outstanding derivative instruments as of the dates indicated:
GROSS FAIR VALUE OF OUTSTANDING DERIVATIVE INSTRUMENTS
September 30, 2025
Gross Notional
All other
current assets
All other assets
All other
current
liabilities
All other
liabilities
Foreign currency exchange contracts accounted for
as hedges
$6,718
$89
$122
$35
$56
Foreign currency exchange contracts
33,745
400
174
351
170
Commodity and other contracts
395
30
21
5
5
Derivatives not accounted for as hedges
$34,140
$429
$195
$356
$175
Total gross derivatives
$40,858
$518
$317
$391
$230
Netting adjustment(a)
(291)
(152)
(289)
(152)
Net derivatives recognized in the Consolidated and
Combined Statement of Financial Position
$227
$165
$102
$78
(a) The netting of derivative receivables and payables is permitted when a legally enforceable master netting agreement exists. Amounts
include fair value adjustments related to our own and counterparty non-performance risk.
December 31, 2024
Gross Notional
All other
current assets
All other assets
All other
current
liabilities
All other
liabilities
Foreign currency exchange contracts accounted for
as hedges
$5,789
$61
$144
$58
$65
Foreign currency exchange contracts
34,244
479
159
483
144
Commodity and other contracts
436
12
20
12
2
Derivatives not accounted for as hedges
$34,681
$491
$179
$495
$146
Total gross derivatives
$40,469
$552
$323
$552
$211
Netting adjustment(a)
(383)
(166)
(381)
(166)
Net derivatives recognized in the Consolidated and
Combined Statement of Financial Position
$168
$158
$171
$46
(a) The netting of derivative receivables and payables is permitted when a legally enforceable master netting agreement exists. Amounts
include fair value adjustments related to our own and counterparty non-performance risk.
Schedule of Derivative Instruments in OCI PRE-TAX GAINS (LOSSES) RECOGNIZED IN AOCI RELATED TO CASH FLOW AND NET INVESTMENT HEDGES
Three months ended September 30
Nine months ended September 30
2025
2024
2025
2024
Cash flow hedges
$2
$(17)
$16
$19
Net investment hedges
1
(6)
(2)
(2)
Schedule of Derivative Instruments in Earnings The tables below show the effect of our derivative financial instruments in the Consolidated and Combined Statement of Income (Loss):
Three months ended September 30, 2025
Sales of
equipment and
services
Cost of equipment
and services
Selling, general,
and administrative
expenses
Other income
(expense) – net
Total amount of income and expense in the Consolidated
and Combined Statement of Income (Loss)
$9,969
$8,071
$1,221
$221
Effects of cash flow hedges
$15
$18
$—
$—
Foreign currency exchange contracts
3
(1)
4
(17)
Commodity and other contracts
—
(5)
(9)
—
Effect of derivatives not designated as hedges
$3
$(6)
$(5)
$(17)
Three months ended September 30, 2024
Total amount of income and expense in the Consolidated
and Combined Statement of Income (Loss)
$8,913
$7,804
$1,226
$71
Effects of cash flow hedges
$2
$—
$—
$—
Foreign currency exchange contracts
6
(16)
(48)
6
Commodity and other contracts
—
(1)
(6)
—
Effect of derivatives not designated as hedges
$6
$(17)
$(55)
$6
Nine months ended September 30, 2025
Sales of
equipment and
services
Cost of equipment
and services
Selling, general,
and administrative
expenses
Other income
(expense) – net
Total amount of income (expense) in the Consolidated and
Combined Statement of Income (Loss)
$27,112
$21,899
$3,594
$455
Effects of cash flow hedges
$(4)
$18
$—
$—
Foreign currency exchange contracts
6
(50)
(65)
(8)
Commodity and other contracts
—
(11)
(13)
—
Effect of derivatives not designated as hedges
$6
$(60)
$(78)
$(8)
Nine months ended September 30, 2024
Total amount of income (expense) in the Consolidated and
Combined Statement of Income (Loss)
$24,376
$20,415
$3,366
$1,025
Effects of cash flow hedges
$(5)
$14
$—
$—
Foreign currency exchange contracts
—
1
(92)
(7)
Commodity and other contracts
—
(7)
(21)
—
Effect of derivatives not designated as hedges
$—
$(6)
$(113)
$(7)