v3.26.1
Financial Instruments and Hedging Activities (Tables)
 3 Months Ended
Mar. 31, 2026
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Fair Values of Derivative Instruments Included on Consolidated Balance Sheet
The following table presents the fair values of derivative instruments included on the Condensed Consolidated Balance Sheet:
  Derivative AssetsDerivative Liabilities
In millionsBalance Sheet ClassificationMarch 31, 2026December 31, 2025Balance Sheet ClassificationMarch 31, 2026December 31, 2025
Derivatives designated as hedging instruments
Foreign currencyPrepaid expenses and other current assets$37 $3 Accrued payroll and other liabilities$(75)$(117)
Foreign currencyMiscellaneous other assets31 24 Other long-term liabilities(7)(12)
Interest rateMiscellaneous other assets
— — Other long-term liabilities(14)(16)
Total derivatives designated as hedging instruments$68 $27  $(96)$(145)
Derivatives not designated as hedging instruments
EquityMiscellaneous other assets$76 $104   
Total derivatives not designated as hedging instruments$76 $104  $— $— 
Total derivatives$144 $131  $(96)$(145)
Derivatives Pretax Amounts Affecting Income and Other Comprehensive Income The following table presents the pre-tax amounts from derivative instruments affecting income and AOCI for the three months ended March 31, 2026 and 2025, respectively:
Location of gain or loss
recognized in income on
derivative		Gain (loss)
recognized in AOCI		Gain (loss)
reclassified into income from AOCI		Gain (loss) recognized in
income on derivative
In millions202620252026202520262025
Foreign currencyNonoperating income/expense$30 $(51)$(19)$20 
Interest rateInterest expense— (16)1 — 
Cash flow hedges$30 $(67)$(18)$20 
Foreign currency denominated debtNonoperating income/expense$232 $(504)
Foreign currency derivativesNonoperating income/expense17 (86)
Foreign currency derivatives(1)
Interest expense$11 $15 
Net investment hedges$249 $(590)$— $11 $15 
Foreign currencyNonoperating income/expense$(1)$(5)
EquitySelling, general & administrative expenses4 11 
Undesignated derivatives$3 $6 
(1)The amount of gain (loss) recognized in income related to components excluded from effectiveness testing.