Annual report pursuant to Section 13 and 15(d)

HEDGING TRANSACTIONS AND DERIVATIVE FINANCIAL INSTRUMENTS (Details)

v3.20.4
HEDGING TRANSACTIONS AND DERIVATIVE FINANCIAL INSTRUMENTS (Details) - USD ($)
 12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
Fair Value, Derivatives Designated and Not Designated as Hedges      
Maximum length of time over which future cash flow exposures are hedged (in years) 3 years    
Derivatives Designated as Hedging Instruments, Assets, at Fair Value $ 761,000,000 $ 552,000,000  
Derivative Instruments Not Designated as Hedging Instruments, Asset, at Fair Value 137,000,000 36,000,000  
Derivatives Designated as Hedging Instruments, Liabilities, at Fair Value 34,000,000 109,000,000  
Derivative Instruments Not Designated as Hedging Instruments, Liability, at Fair Value 57,000,000 53,000,000  
Anticipated gains (losses) cash flows hedges, estimated reclassification to earnings 68,000,000    
Foreign currency contracts | Prepaid Expenses and Other Current Assets      
Fair Value, Derivatives Designated and Not Designated as Hedges      
Derivatives Designated as Hedging Instruments, Assets, at Fair Value 26,000,000 24,000,000  
Derivative Instruments Not Designated as Hedging Instruments, Asset, at Fair Value 28,000,000 13,000,000  
Foreign currency contracts | Other assets      
Fair Value, Derivatives Designated and Not Designated as Hedges      
Derivatives Designated as Hedging Instruments, Assets, at Fair Value 74,000,000 91,000,000  
Derivative Instruments Not Designated as Hedging Instruments, Asset, at Fair Value 1,000,000 0  
Foreign currency contracts | Accounts Payable and Accrued Liabilities      
Fair Value, Derivatives Designated and Not Designated as Hedges      
Derivatives Designated as Hedging Instruments, Liabilities, at Fair Value 29,000,000 40,000,000  
Derivative Instruments Not Designated as Hedging Instruments, Liability, at Fair Value 41,000,000 39,000,000  
Foreign currency contracts | Other liabilities      
Fair Value, Derivatives Designated and Not Designated as Hedges      
Derivatives Designated as Hedging Instruments, Liabilities, at Fair Value 0 48,000,000  
Commodity contracts | Prepaid Expenses and Other Current Assets      
Fair Value, Derivatives Designated and Not Designated as Hedges      
Derivatives Designated as Hedging Instruments, Assets, at Fair Value 2,000,000 0  
Derivative Instruments Not Designated as Hedging Instruments, Asset, at Fair Value 76,000,000 8,000,000  
Commodity contracts | Other assets      
Fair Value, Derivatives Designated and Not Designated as Hedges      
Derivative Instruments Not Designated as Hedging Instruments, Asset, at Fair Value 9,000,000 2,000,000  
Commodity contracts | Accounts Payable and Accrued Liabilities      
Fair Value, Derivatives Designated and Not Designated as Hedges      
Derivative Instruments Not Designated as Hedging Instruments, Liability, at Fair Value 15,000,000 13,000,000  
Commodity contracts | Other liabilities      
Fair Value, Derivatives Designated and Not Designated as Hedges      
Derivative Instruments Not Designated as Hedging Instruments, Liability, at Fair Value 1,000,000 1,000,000  
Interest rate contracts | Prepaid Expenses and Other Current Assets      
Fair Value, Derivatives Designated and Not Designated as Hedges      
Derivatives Designated as Hedging Instruments, Assets, at Fair Value 0 10,000,000  
Interest rate contracts | Other assets      
Fair Value, Derivatives Designated and Not Designated as Hedges      
Derivatives Designated as Hedging Instruments, Assets, at Fair Value 659,000,000 427,000,000  
Interest rate contracts | Accounts Payable and Accrued Liabilities      
Fair Value, Derivatives Designated and Not Designated as Hedges      
Derivatives Designated as Hedging Instruments, Liabilities, at Fair Value 5,000,000 0  
Interest rate contracts | Other liabilities      
Fair Value, Derivatives Designated and Not Designated as Hedges      
Derivatives Designated as Hedging Instruments, Liabilities, at Fair Value 0 21,000,000  
Other Derivative Instruments | Prepaid Expenses and Other Current Assets      
Fair Value, Derivatives Designated and Not Designated as Hedges      
Derivative Instruments Not Designated as Hedging Instruments, Asset, at Fair Value 20,000,000 12,000,000  
Other Derivative Instruments | Other assets      
Fair Value, Derivatives Designated and Not Designated as Hedges      
Derivative Instruments Not Designated as Hedging Instruments, Asset, at Fair Value 3,000,000 1,000,000  
Cash Flow Hedges      
Fair Value, Derivatives Designated and Not Designated as Hedges      
Other Comprehensive Income (Loss), Unrealized Gain (Loss) on Derivatives Arising During Period, before Tax (35,000,000) (200,000,000) $ 68,000,000
Gain (Loss) Reclassified from AOCI into Income (Effective Portion) (74,000,000) (162,000,000) 90,000,000
Gain (Loss) Recognized in Income (Ineffective Portion and Amount Excluded from Effectiveness Testing) 0 0 (19,000,000)
Cash Flow Hedges | Currency Swap [Member]      
Fair Value, Derivatives Designated and Not Designated as Hedges      
Derivative, Notional Amount 2,700,000,000 3,028,000,000  
Cash Flow Hedges | Foreign currency contracts      
Fair Value, Derivatives Designated and Not Designated as Hedges      
Derivative, Notional Amount 7,785,000,000 6,957,000,000  
Cash Flow Hedges | Commodity contracts      
Fair Value, Derivatives Designated and Not Designated as Hedges      
Derivative, Notional Amount 11,000,000 2,000,000  
Cash Flow Hedges | Interest Rate Swap [Member]      
Fair Value, Derivatives Designated and Not Designated as Hedges      
Derivative, Notional Amount 1,233,000,000    
Cash Flow Hedges | Interest expense | Foreign currency contracts      
Fair Value, Derivatives Designated and Not Designated as Hedges      
Other Comprehensive Income (Loss), Unrealized Gain (Loss) on Derivatives Arising During Period, before Tax 0 0 0
Gain (Loss) Reclassified from AOCI into Income (Effective Portion) (16,000,000) (9,000,000) (9,000,000)
Gain (Loss) Recognized in Income (Ineffective Portion and Amount Excluded from Effectiveness Testing) 0 0 0
Cash Flow Hedges | Interest expense | Interest rate contracts      
Fair Value, Derivatives Designated and Not Designated as Hedges      
Other Comprehensive Income (Loss), Unrealized Gain (Loss) on Derivatives Arising During Period, before Tax 15,000,000 (47,000,000) 22,000,000
Gain (Loss) Reclassified from AOCI into Income (Effective Portion) (54,000,000) (42,000,000) (40,000,000)
Gain (Loss) Recognized in Income (Ineffective Portion and Amount Excluded from Effectiveness Testing) 0 0 (8,000,000)
Fair Value Hedges      
Fair Value, Derivatives Designated and Not Designated as Hedges      
Gain (Loss) Recognized in Income (Ineffective Portion and Amount Excluded from Effectiveness Testing) 2,000,000 (1,000,000) (4,000,000)
Fair Value Hedges | Long-term Debt, Current Maturities [Domain]      
Fair Value, Derivatives Designated and Not Designated as Hedges      
Derivative, Amount of Hedged Item 0 1,004  
Hedged Liability, Fair Value Hedge, Cumulative Increase (Decrease) 0 5  
Fair Value Hedges | Long-term Debt [Member]      
Fair Value, Derivatives Designated and Not Designated as Hedges      
Derivative, Amount of Hedged Item 11,129 12,087  
Hedged Liability, Fair Value Hedge, Cumulative Increase (Decrease) 646 448  
Fair Value Hedges | Interest Rate Swap [Member]      
Fair Value, Derivatives Designated and Not Designated as Hedges      
Derivative, Notional Amount 10,215,000,000 12,523,000,000  
Fair Value Hedges | Interest expense      
Fair Value, Derivatives Designated and Not Designated as Hedges      
Gain (Loss) Recognized in Income (Ineffective Portion and Amount Excluded from Effectiveness Testing) 1,000,000 (1,000,000) (4,000,000)
Fair Value Hedges | Interest expense | Interest rate contracts      
Fair Value, Derivatives Designated and Not Designated as Hedges      
Gain (Loss) Recognized in Income (Ineffective Portion and Amount Excluded from Effectiveness Testing) 275,000,000 368,000,000 34,000,000
Fair Value Hedges | Interest expense | Fixed Rate Debt      
Fair Value, Derivatives Designated and Not Designated as Hedges      
Gain (Loss) Recognized in Income (Ineffective Portion and Amount Excluded from Effectiveness Testing) (274,000,000) (369,000,000) (38,000,000)
Net Investment Hedges      
Fair Value, Derivatives Designated and Not Designated as Hedges      
Derivative, Notional Amount 13,787,000,000 12,334,000,000  
Other Comprehensive Income (Loss), Unrealized Gain (Loss) on Derivatives Arising During Period, before Tax (1,094,000,000) 195,000,000 639,000,000
Net Investment Hedges | Foreign currency contracts      
Fair Value, Derivatives Designated and Not Designated as Hedges      
Derivative, Notional Amount 451,000,000 0  
Other Comprehensive Income (Loss), Unrealized Gain (Loss) on Derivatives Arising During Period, before Tax (5,000,000) 51,000,000 (14,000,000)
Net Investment Hedges | Foreign currency denominated debt      
Fair Value, Derivatives Designated and Not Designated as Hedges      
Derivative, Notional Amount 13,336,000,000 12,334,000,000  
Other Comprehensive Income (Loss), Unrealized Gain (Loss) on Derivatives Arising During Period, before Tax (1,089,000,000) 144,000,000 $ 653,000,000
Not Designated as Hedging Instrument [Member] | Foreign currency contracts      
Fair Value, Derivatives Designated and Not Designated as Hedges      
Derivative, Notional Amount 5,727,000,000 4,291,000,000  
Not Designated as Hedging Instrument [Member] | Commodity contracts      
Fair Value, Derivatives Designated and Not Designated as Hedges      
Derivative, Notional Amount $ 715,000,000 $ 425,000,000