Balance Sheet Offsetting (Tables)

9 Months Ended

Sep. 30, 2020

Offsetting [Abstract]

Offsetting Assets

The effects of these derivative financial instrument assets and liabilities on PMI's condensed consolidated balance sheets were as follows:

(in millions)	Gross Amounts Recognized		Gross Amount Offset in the Condensed Consolidated Balance Sheet		Net Amounts Presented in the Condensed Consolidated Balance Sheet		Gross Amounts Not Offset in the Condensed Consolidated Balance Sheet
							Financial Instruments		Cash Collateral Received/Pledged		Net Amount
At September 30, 2020
Assets
Derivative contracts	$	254	$	—	$	254	$	(185)	$	(54)	$	15
Liabilities
Derivative contracts	$	565	$	—	$	565	$	(185)	$	(368)	$	12
At December 31, 2019
Assets
Derivative contracts	$	390	$	—	$	390	$	(297)	$	(91)	$	2
Liabilities
Derivative contracts	$	419	$	—	$	419	$	(297)	$	(59)	$	63

Offsetting Liabilities

The effects of these derivative financial instrument assets and liabilities on PMI's condensed consolidated balance sheets were as follows:

(in millions)	Gross Amounts Recognized		Gross Amount Offset in the Condensed Consolidated Balance Sheet		Net Amounts Presented in the Condensed Consolidated Balance Sheet		Gross Amounts Not Offset in the Condensed Consolidated Balance Sheet
							Financial Instruments		Cash Collateral Received/Pledged		Net Amount
At September 30, 2020
Assets
Derivative contracts	$	254	$	—	$	254	$	(185)	$	(54)	$	15
Liabilities
Derivative contracts	$	565	$	—	$	565	$	(185)	$	(368)	$	12
At December 31, 2019
Assets
Derivative contracts	$	390	$	—	$	390	$	(297)	$	(91)	$	2
Liabilities
Derivative contracts	$	419	$	—	$	419	$	(297)	$	(59)	$	63