v3.26.1
DERIVATIVE INSTRUMENTS AND HEDGING TRANSACTIONS (Tables)
 12 Months Ended
Dec. 31, 2025
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value
The following table summarizes the notional amounts and fair values of the Company’s outstanding derivatives by risk category and instrument type within the Consolidated Balance Sheet:
NotionalFair Value AssetFair Value (Liability)
December 31, 2025December 31, 2024December 31, 2025December 31, 2024December 31, 2025December 31, 2024
Derivatives in fair value hedging relationships   
Interest rate swap agreements$4,068 $3,899 $14 $3 $(93)$(139)
Derivatives in cash flow hedging relationships
Foreign currency exchange contracts509 802 — 11 (6)(10)
Commodity contracts— 1 — — — — 
Derivatives in net investment hedging relationships
Cross currency swap agreements6,139 7,214 — 124 (801)(56)
Total derivatives designated as hedging instruments10,716 11,916 14 138 (900)(205)
Derivatives not designated as hedging instruments
Foreign currency exchange contracts9,682 8,353 4 3 (5)(5)
Total derivatives at fair value$20,398 $20,269 $18 $141 $(905)$(210)
Schedule of Derivative Instruments
The following table sets forth the amounts recorded in the Consolidated Balance Sheet related to cumulative basis adjustments for fair value hedges:
Carrying Amount
of Hedged Item		Cumulative Amount of
Fair Value Hedging Adjustment
Included in the Carrying
Amount of Hedged Item
December 31, 2025December 31, 2024December 31, 2025December 31, 2024
Long-term debt$3,989 $3,763 $(79)$(136)
Schedule of Derivative Instruments, Gain (Loss)
The following tables summarize the location and impact to the Consolidated Statement of Operations related to derivative instruments:
 Year Ended December 31, 2025
Net SalesCost of
Products Sold		Cost of
Services Sold
Selling, General and
Administrative Expenses
Other
Income (Expense)
Interest and Other
Financial Charges
$37,442 $16,153 $7,460 $5,450 $1,247 $1,344 
Gain (loss) on cash flow hedges
Foreign currency exchange contracts
Amount reclassified from accumulated other comprehensive loss into income— (3)(2)— — — 
Gain (loss) on fair value hedges
Interest rate swap agreements
Hedged items— — — — — (57)
Derivatives designated as hedges— — — — — 57 
Gain (loss) on derivatives not designated as hedging instruments
Foreign currency exchange contracts— — — — (376)— 
 Year Ended December 31, 2024
Net SalesCost of
Products Sold
Cost of
Services Sold
Selling, General and
Administrative Expenses
Other
Income (Expense)
Interest and Other
Financial Charges
$34,717 $15,017 $6,343 $5,235 $843 $1,048 
Gain (loss) on cash flow hedges
Foreign currency exchange contracts
Amount reclassified from accumulated other comprehensive loss into income2 — — 5 — — 
Gain (loss) on fair value hedges
Interest rate swap agreements
Hedged items— — — — — (30)
Derivatives designated as hedges— — — — — 30 
Gain (loss) on derivatives not designated as hedging instruments
Foreign currency exchange contracts— — — — 147 — 
 Year Ended December 31, 2023
Net SalesCost of
Products Sold
Cost of
Services Sold
Selling, General and
Administrative Expenses
Other
Income (Expense)
Interest and Other
Financial Charges
$33,009 $14,836 $5,801 $4,887 $830 $749 
Gain (loss) on cash flow hedges
Foreign currency exchange contracts
Amount reclassified from accumulated other comprehensive loss into income15 26 10 10 — — 
Gain (loss) on fair value hedges
Interest rate swap agreements
Hedged items— — — — — (121)
Derivatives designated as hedges— — — — — 121 
Gain (loss) on derivatives not designated as hedging instruments
Foreign currency exchange contracts— — — — (110)— 
Schedule of Net Investment Hedges in Accumulated Other Comprehensive Income (Loss)
The following table summarizes the amount of gain or (loss) on net investment hedges recognized in Accumulated other comprehensive loss:
Years Ended December 31,
20252024
Euro-denominated long-term debt$(664)$249 
Euro-denominated commercial paper(139)72 
Cross currency swap agreements(868)190