v3.25.3
DERIVATIVE INSTRUMENTS AND HEDGING TRANSACTIONS (Tables)
 9 Months Ended
Sep. 30, 2025
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value
The following table summarizes the notional amounts and fair values of the Company’s outstanding derivatives by risk category and instrument type within the Consolidated Balance Sheet:
NotionalFair Value AssetFair Value Liability
September 30, 2025December 31, 2024September 30, 2025December 31, 2024September 30, 2025December 31, 2024
Derivatives in fair value hedging relationships   
Interest rate swap agreements$4,069 $3,899 $14 $3 $(97)$(139)
Derivatives in cash flow hedging relationships
Foreign currency exchange contracts742 1,235 7 30 (21)(10)
Commodity contracts3 1 — — — — 
Derivatives in net investment hedging relationships
Cross currency swap agreements6,214 7,214 1 124 (776)(56)
Total derivatives designated as hedging instruments11,028 12,349 22 157 (894)(205)
Derivatives not designated as hedging instruments
Foreign currency exchange contracts10,114 8,773 5 3 (4)(5)
Total Derivative instruments$21,142 $21,122 $27 $160 $(898)$(210)
Schedule of Derivative Instruments
The following table sets forth the amounts recorded in the Consolidated Balance Sheet related to cumulative basis adjustments for fair value hedges:
Carrying Amount
of Hedged Item		Cumulative Amount of Fair Value Hedging Adjustment Included in the Carrying Amount of Hedged Item
September 30, 2025December 31, 2024September 30, 2025December 31, 2024
Long-term debt$3,986 $3,763 $(83)$(136)
Derivative Instruments, Gain (Loss)
The following tables summarize the location and impact to the Consolidated Statement of Operations related to derivative instruments:
Three Months Ended September 30, 2025
Net SalesCost of
Products Sold		Cost of
Services Sold		Selling,
General and
Administrative
Expenses		Other
Income (Expense)		Interest and Other
Financial Charges
$10,408 $4,734 $2,127 $1,296 $822 $354 
Gain (loss) on cash flow hedges
Foreign currency exchange contracts
Amount reclassified from accumulated other comprehensive loss into income— (6)(3)— — — 
Gain (loss) on fair value hedges
Interest rate swap agreements
Hedged items— — — — — (4)
Derivatives designated as hedges— — — — — 4 
Gain (loss) on derivatives not designated as hedging instruments
Foreign currency exchange contracts— — — — (4)— 
Three Months Ended September 30, 2024
Net SalesCost of
Products Sold		Cost of
Services Sold		Selling,
General and
Administrative
Expenses		Other
Income
(Expense)		Interest and Other
Financial Charges
$9,728 $4,166 $1,813 $1,398 $263 $297 
Gain (loss) on cash flow hedges
Foreign currency exchange contracts
Amount reclassified from accumulated other comprehensive loss into income— (1)— 1 — — 
Gain (loss) on fair value hedges
Interest rate swap agreements
Hedged items— — — — — (123)
Derivatives designated as hedges— — — — — 123 
Gain (loss) on derivatives not designated as hedging instruments
Foreign currency exchange contracts— — — — (213)— 
Nine Months Ended September 30, 2025
Net SalesCost of
Products Sold		Cost of
Services Sold		Selling,
General and
Administrative
Expenses		Other
Income
(Expense)		Interest and Other
Financial Charges
$30,582 $13,533 $5,694 $4,085 $1,109 $970 
Gain (loss) on cash flow hedges
Foreign currency exchange contracts
Amount reclassified from accumulated other comprehensive loss into income— (9)(4)(1)— — 
Gain (loss) on fair value hedges
Interest rate swap agreements
Hedged items— — — — — (53)
Derivatives designated as hedges— — — — — 53 
Gain (loss) on derivatives not designated as hedging instruments
Foreign currency exchange contracts— — — — (396)— 
Nine Months Ended September 30, 2024
Net SalesCost of
Products Sold		Cost of
Services Sold		Selling,
General and
Administrative
Expenses		Other
Income
(Expense)		Interest and Other
Financial Charges
$28,410 $12,448 $4,970 $4,061 $740 $767 
Gain (loss) on cash flow hedges
Foreign currency exchange contracts
Amount reclassified from accumulated other comprehensive loss into income3 7 3 6 — — 
Gain (loss) on fair value hedges
Interest rate swap agreements
Hedged items— — — — — (77)
Derivatives designated as hedges— — — — — 77 
Gain (loss) on derivatives not designated as hedging instruments
Foreign currency exchange contracts— — — — (180)— 
Schedule of Net Investment Hedges in Accumulated Other Comprehensive Income (Loss)
The following table summarizes the amounts of gain or (loss) on net investment hedges recognized in Accumulated other comprehensive loss:
Three Months Ended September 30,Nine Months Ended September 30,
2025202420252024
Euro-denominated long-term debt$(73)$(246)$(666)$(146)
Euro-denominated commercial paper(15)(52)(140)(11)
Cross currency swap agreements(7)(314)(843)(227)