Derivative Instruments and Hedging Activities (Tables)

3 Months Ended

Mar. 31, 2014

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Derivatives Instruments Statements of Financial Performance and Financial Position, Location [Table Text Block]

The following table sets forth the fair value of derivatives not designated as hedging instruments as of March 31, 2014 and December 31, 2013.

	March 31, 2014				December 31, 2013
	Assets		Liabilities		Assets		Liabilities
	(In millions)				(In millions)
FX Contracts	$	132	$	140	$	118	$	166
Interest Contracts	1		1		1		—
Commodity Contracts	995		811		850		649
Total	$	1,128	$	952	$	969	$	815

The following tables set forth the pre-tax gains (losses) on derivatives not designated as hedging instruments that have been included in the consolidated statements of earnings for the three months ended March 31, 2014 and 2013.

	Three months ended March 31,
	2014			2013
	(In millions)
Interest Contracts
Interest expense	$	—		$	0
Other income (expense) – net	0			0
FX Contracts
Revenues	$	(6	)	$	73
Cost of products sold	44			(1		)
Other income (expense) – net	(9		)	(45		)
Commodity Contracts
Cost of products sold	$	(912	)	$	68
Total gain (loss) recognized in earnings	$	(883	)	$	95

Inventories of certain merchandisable agricultural commodities, which include amounts acquired under deferred pricing contracts, are stated at market value. Changes in the market value of inventories of certain merchandisable agricultural commodities, forward cash purchase and sales contracts, exchange-traded futures and exchange-traded and OTC options contracts are recognized in earnings immediately.

Derivatives Designated as Cash Flow or Fair Value Hedging Strategies

The following table sets forth the fair value of derivatives designated as hedging instruments as of March 31, 2014 and December 31, 2013.

	March 31, 2014				December 31, 2013
	Assets		Liabilities		Assets		Liabilities
	(In millions)				(In millions)
Interest Contracts	—		4		0		9
Total	$	—	$	4	$	0	$	9

The following tables set forth the pre-tax gains (losses) on derivatives designated as hedging instruments that have been included in the consolidated statements of earnings for the three months ended March 31, 2014 and 2013.

		Three months ended
	Consolidated Statement of Earnings Locations	March 31,
		2014			2013
		(In millions)
Effective amounts recognized in earnings
FX Contracts	Other income/expense – net	$	—		$	0
Interest Contracts	Interest expense	—			0
Commodity Contracts	Cost of products sold	(4		)	(2		)
	Revenues	(27		)	(1		)
Ineffective amount recognized in earnings
Commodity Contracts	Revenues	(23		)	—
	Cost of products sold	20			(42		)
Total amount recognized in earnings		$	(34	)	$	(45	)

Schedule Of Changes In Accumulated Other Comprehensive Income Related To Derivative Gains (Losses)

The following tables set forth the changes in AOCI related to derivatives gains (losses) for the three months ended March 31, 2014 and 2013.

	Three months ended
	March 31,
	2014			2013
	(In millions)
Balance at December 31, 2013 and 2012	$	5		$	4
Unrealized gains (losses)	(128		)	9
Losses (gains) reclassified to earnings	31			3
Tax effect	33			(5		)
Balance at March 31, 2014 and 2013	$	(59	)	$	11