v3.26.3
FINANCIAL INSTRUMENTS (Tables)
 9 Months Ended
Sep. 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
September 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)
$8,605
$42
$134
$86
$67
Foreign currency exchange contracts(a)
33,328
336
79
345
114
Commodity and other contracts
545
51
33
6
8
Derivatives not accounted for as hedges
$33,873
$387
$112
$351
$122
Total gross derivatives
$42,478
$429
$245
$437
$189
Netting adjustment(b)
(257)
(117)
(255)
(117)
Net derivatives recognized in the Consolidated
Statement of Financial Position
$172
$128
$182
$72
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 $22,047 million and $24,740 million as of September 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
September 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)
$8,605
$42
$134
$86
$67
Foreign currency exchange contracts(a)
33,328
336
79
345
114
Commodity and other contracts
545
51
33
6
8
Derivatives not accounted for as hedges
$33,873
$387
$112
$351
$122
Total gross derivatives
$42,478
$429
$245
$437
$189
Netting adjustment(b)
(257)
(117)
(255)
(117)
Net derivatives recognized in the Consolidated
Statement of Financial Position
$172
$128
$182
$72
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 $22,047 million and $24,740 million as of September 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 September 30
Nine months ended September 30
2026
2025
2026
2025
Cash flow hedges
$(68)
$2
$(92)
$16
Net investment hedges
(1)
1
1
(2)
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 September 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)
$12,642
$9,536
$1,354
$105
Effects of cash flow hedges
$17
$4
$—
$—
Foreign currency exchange contracts
—
27
(7)
21
Commodity and other contracts
—
(25)
(2)
—
Effect of derivatives not designated as hedges
$—
$2
$(10)
$21
Three months ended September 30, 2025
Total amount of income and expense in the Consolidated
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)
Nine months ended September 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)
$33,084
$25,837
$4,024
$4,947
Effects of cash flow hedges
$30
$(5)
$—
$1
Foreign currency exchange contracts
—
136
(17)
25
Commodity and other contracts
—
(35)
(12)
—
Effect of derivatives not designated as hedges
$—
$101
$(30)
$25
Nine months ended September 30, 2025
Total amount of income and expense in the Consolidated
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)