Financial Instruments (Tables)

12 Months Ended

Dec. 31, 2016

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Fair Value of Foreign Exchange Contracts

The fair value of PMI’s foreign exchange contracts included in the consolidated balance sheet as of December 31, 2016 and 2015, were as follows:

	Asset Derivatives					Liability Derivatives
		FairValue					FairValue
(in millions)	Balance Sheet Classification	2016		2015		Balance Sheet Classification	2016		2015
Foreign exchange contracts designated as hedging instruments	Other current   assets	$	207	$	301	Other accrued    liabilities	$	66	$	26
	Other assets	436		181		Other liabilities	36		117
Foreign exchange contracts not designated as hedging instruments	Other current   assets	161		7		Other accrued   liabilities	61		29
	Other assets	9		85		Other liabilities	—		—
Total derivatives		$	813	$	574		$	163	$	172

Hedging Activities Effect on Consolidated Statements of Earnings and Other Comprehensive Earnings

For the years ended December 31, 2016, 2015 and 2014, PMI's cash flow and net investment hedging instruments impacted the consolidated statements of earnings and comprehensive earnings as follows:

(pre-tax, millions)	For the Year Ended December 31,
	Amount of Gain/(Loss) Recognized in Other Comprehensive Earnings/(Losses) on Derivatives						Statement of Earnings Classification of Gain/(Loss) Reclassified from Other Comprehensive Earnings/(Losses) into Earnings	Amount of Gain/(Loss) Reclassified from Other Comprehensive Earnings/(Losses) into Earnings
	2016		2015		2014			2016			2015			2014
Derivatives in Cash Flow Hedging Relationship
Foreign exchange contracts	$	12	$	43	$	111
							Net revenues	$	(38	)	$	149		$	115
							Cost of sales	46			(3		)	—
							Marketing, administration and research costs	(11		)	1			(28		)
							Interest expense, net	(30		)	(31		)	(39		)
Derivatives in Net Investment Hedging Relationship
Foreign exchange contracts	296		253		269
Total	$	308	$	296	$	380		$	(33	)	$	116		$	48

Hedging Activity Reported in Accumulated Other Comprehensive Earnings (Losses), Net of Income Taxes

Hedging activity affected accumulated other comprehensive losses, net of income taxes, as follows:

	For the Years Ended December 31,
(in millions)	2016		2015			2014
Gain as of January 1,	$	59	$	123		$	63
Derivative (gains)/losses transferred to earnings	30		(102		)	(38		)
Change in fair value	8		38			98
Gain as of December 31,	$	97	$	59		$	123