v3.20.2
Fair Value Measurements And Disclosure (Tables)
6 Months Ended
Jun. 30, 2020
Fair Value Disclosures  
Long-term debt and other financial instruments [Table Text Block]

 

 

June 30, 2020

 

December 31, 2019

 

 

Carrying

 

Fair

 

Carrying

 

Fair

 

 

Amount

 

Value

 

Amount

 

Value

Notes and debentures1

$

164,099

 

$

190,284

 

$

161,109

 

$

182,124

Commercial paper

 

3,001

 

 

3,001

 

 

-

 

 

-

Bank borrowings

 

-

 

 

-

 

 

4

 

 

4

Investment securities2

 

3,632

 

 

3,632

 

 

3,723

 

 

3,723

1

Includes credit agreement borrowings.

2

Excludes investments accounted for under the equity method.

Fair Value Leveling [Table Text Block]

 

 

June 30, 2020

 

 

Level 1

 

Level 2

 

Level 3

 

Total

Equity Securities

 

 

 

 

 

 

 

 

 

 

 

Domestic equities

$

832

 

$

-

 

$

-

 

$

832

International equities

 

141

 

 

-

 

 

-

 

 

141

Fixed income equities

 

230

 

 

-

 

 

-

 

 

230

Available-for-Sale Debt Securities

 

-

 

 

1,522

 

 

-

 

 

1,522

Asset Derivatives

 

 

 

 

 

 

 

 

 

 

 

Cross-currency swaps

 

-

 

 

67

 

 

-

 

 

67

Foreign exchange contracts

 

-

 

 

14

 

 

-

 

 

14

Liability Derivatives

 

 

 

 

 

 

 

 

 

 

 

Interest rate swaps

 

-

 

 

(3)

 

 

-

 

 

(3)

Cross-currency swaps

 

-

 

 

(6,767)

 

 

-

 

 

(6,767)

Foreign exchange contracts

 

-

 

 

(10)

 

 

-

 

 

(10)

 

 

December 31, 2019

 

 

Level 1

 

Level 2

 

Level 3

 

Total

Equity Securities

 

 

 

 

 

 

 

 

 

 

 

Domestic equities

$

844

 

$

-

 

$

-

 

$

844

International equities

 

183

 

 

-

 

 

-

 

 

183

Fixed income equities

 

229

 

 

-

 

 

-

 

 

229

Available-for-Sale Debt Securities

 

-

 

 

1,444

 

 

-

 

 

1,444

Asset Derivatives

 

 

 

 

 

 

 

 

 

 

 

Interest rate swaps

 

-

 

 

2

 

 

-

 

 

2

Cross-currency swaps

 

-

 

 

172

 

 

-

 

 

172

Interest rate locks

 

-

 

 

11

 

 

-

 

 

11

Foreign exchange contracts

 

-

 

 

89

 

 

-

 

 

89

Liability Derivatives

 

 

 

 

 

 

 

 

 

 

 

Cross-currency swaps

 

-

 

 

(3,187)

 

 

-

 

 

(3,187)

Interest rate locks

 

-

 

 

(95)

 

 

-

 

 

(95)

Unrealized Gain (Loss) on Investments [Table Text Block]

 

Three months ended

 

Six months ended

 

June 30,

 

June 30,

 

2020

 

2019

 

2020

 

2019

Total gains (losses) recognized on equity securities

$

161

 

$

50

 

$

(42)

 

$

210

Gains (Losses) recognized on equity securities sold

 

9

 

 

9

 

 

(24)

 

 

27

Unrealized gains (losses) recognized on equity securities

 

 

 

 

 

 

 

 

 

 

 

held at end of period

 

152

 

 

41

 

 

(18)

 

 

183

Notional Amount of Outstanding Derivative Positions [Table Text Block]

 

 

June 30,

 

December 31,

 

2020

 

2019

Interest rate swaps

$

21

 

$

853

Cross-currency swaps

 

45,606

 

 

42,325

Interest rate locks

 

-

 

 

3,500

Foreign exchange contracts

 

298

 

 

269

Total

$

45,925

 

$

46,947

Effect on Derivatives on the Consolidated Statements of Income [Table Text Block]

Effect of Derivatives on the Consolidated Statements of Income

 

 

 

 

 

 

 

 

 

Three months ended

 

Six months ended

 

June 30,

 

June 30,

Fair Value Hedging Relationships

2020

 

2019

 

2020

 

2019

Interest rate swaps (Interest expense):

 

 

 

 

 

 

 

 

 

 

 

Gain (Loss) on interest rate swaps

$

(14)

 

$

35

 

$

(4)

 

$

59

Gain (Loss) on long-term debt

 

14

 

 

(35)

 

 

4

 

 

(59)

 

Three months ended

 

Six months ended

 

June 30,

 

June 30,

Cash Flow Hedging Relationships

2020

 

2019

 

2020

 

2019

Cross-currency swaps:

 

 

 

 

 

 

 

 

 

 

 

Gain (Loss) recognized in accumulated OCI

$

809

 

$

(763)

 

$

(3,170)

 

$

(595)

Foreign exchange contracts:

 

 

 

 

 

 

 

 

 

 

 

Gain (Loss) recognized in accumulated OCI

 

2

 

 

4

 

 

(11)

 

 

(3)

Other income (expense) - net reclassified from

 

 

 

 

 

 

 

 

 

 

 

accumulated OCI into income

 

(3)

 

 

7

 

 

13

 

 

10

Interest rate locks:

 

 

 

 

 

 

 

 

 

 

 

Gain (Loss) recognized in accumulated OCI

 

(12)

 

 

(23)

 

 

(648)

 

 

(23)

Interest income (expense) reclassified from

 

 

 

 

 

 

 

 

 

 

 

accumulated OCI into income

 

(18)

 

 

(16)

 

 

(34)

 

 

(32)