v3.26.1
FINANCIAL INSTRUMENTS (Tables)
 6 Months Ended
Jun. 30, 2026
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
June 30, 2026
Gross Notional
All other
current assets
All other assets
All other
current
liabilities
All other
liabilities
Foreign currency exchange contracts accounted for
as hedges(a)
$7,593
$60
$164
$61
$73
Foreign currency exchange contracts(a)
38,061
511
131
446
154
Commodity and other contracts
570
45
28
6
7
Derivatives not accounted for as hedges
$38,631
$555
$159
$452
$161
Total gross derivatives
$46,224
$616
$323
$513
$234
Netting adjustment(b)
(337)
(156)
(334)
(156)
Net derivatives recognized in the Consolidated
Statement of Financial Position
$279
$167
$179
$78
December 31, 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(a)
$6,547
$72
$147
$28
$23
Foreign currency exchange contracts(a)
38,005
382
161
316
156
Commodity and other contracts
389
52
32
1
2
Derivatives not accounted for as hedges
$38,393
$434
$193
$317
$158
Total gross derivatives
$44,940
$506
$340
$345
$181
Netting adjustment(b)
(274)
(118)
(271)
(118)
Net derivatives recognized in the Consolidated
Statement of Financial Position
$233
$223
$74
$63
(a) Total gross notional amount of foreign currency exchange contracts represents the volume of derivatives activity. When foreign currency
exchange contracts with the same currency pair and maturity date are netted across different counterparties, the notional amount
reduces to approximately $24,607 million and $24,740 million as of June 30, 2026 and December 31, 2025, respectively.
(b) 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
June 30, 2026
Gross Notional
All other
current assets
All other assets
All other
current
liabilities
All other
liabilities
Foreign currency exchange contracts accounted for
as hedges(a)
$7,593
$60
$164
$61
$73
Foreign currency exchange contracts(a)
38,061
511
131
446
154
Commodity and other contracts
570
45
28
6
7
Derivatives not accounted for as hedges
$38,631
$555
$159
$452
$161
Total gross derivatives
$46,224
$616
$323
$513
$234
Netting adjustment(b)
(337)
(156)
(334)
(156)
Net derivatives recognized in the Consolidated
Statement of Financial Position
$279
$167
$179
$78
December 31, 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(a)
$6,547
$72
$147
$28
$23
Foreign currency exchange contracts(a)
38,005
382
161
316
156
Commodity and other contracts
389
52
32
1
2
Derivatives not accounted for as hedges
$38,393
$434
$193
$317
$158
Total gross derivatives
$44,940
$506
$340
$345
$181
Netting adjustment(b)
(274)
(118)
(271)
(118)
Net derivatives recognized in the Consolidated
Statement of Financial Position
$233
$223
$74
$63
(a) Total gross notional amount of foreign currency exchange contracts represents the volume of derivatives activity. When foreign currency
exchange contracts with the same currency pair and maturity date are netted across different counterparties, the notional amount
reduces to approximately $24,607 million and $24,740 million as of June 30, 2026 and December 31, 2025, respectively.
(b) 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 June 30
Six months ended June 30
2026
2025
2026
2025
Cash flow hedges
$(11)
$4
$(24)
$14
Net investment hedges
1
(2)
2
(3)
Schedule of Derivative Instruments in Earnings The tables below show the effect of our derivative financial instruments in the Consolidated Statement of Income (Loss):
Three months ended June 30, 2026
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
Statement of Income (Loss)
$11,104
$8,744
$1,372
$80
Effects of cash flow hedges
$—
$—
$—
$1
Foreign currency exchange contracts
(1)
50
4
(2)
Commodity and other contracts
—
(9)
(15)
—
Effect of derivatives not designated as hedges
$(1)
$41
$(11)
$(2)
Three months ended June 30, 2025
Total amount of income and expense in the Consolidated
Statement of Income (Loss)
$9,111
$7,266
$1,185
$115
Effects of cash flow hedges
$(10)
$—
$—
$—
Foreign currency exchange contracts
2
(46)
(31)
7
Commodity and other contracts
—
2
(9)
—
Effect of derivatives not designated as hedges
$2
$(44)
$(40)
$7
Six months ended June 30, 2026
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
Statement of Income (Loss)
$20,442
$16,302
$2,670
$4,842
Effects of cash flow hedges
$13
$(9)
$—
$1
Foreign currency exchange contracts
—
109
(10)
4
Commodity and other contracts
—
(10)
(10)
—
Effect of derivatives not designated as hedges
$—
$99
$(20)
$4
Six months ended June 30, 2025
Total amount of income and expense in the Consolidated
Statement of Income (Loss)
$17,143
$13,828
$2,373
$234
Effects of cash flow hedges
$(19)
$—
$—
$—
Foreign currency exchange contracts
3
(49)
(69)
9
Commodity and other contracts
—
(6)
(4)
—
Effect of derivatives not designated as hedges
$3
$(55)
$(73)
$9