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Derivative Instruments and Hedging Activities (Tables)
 9 Months Ended
Sep. 30, 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 designated as hedging instruments as of September 30, 2014 and December 31, 2013.

 
September 30, 2014
 
December 31, 2013
 
Assets
 
Liabilities
 
Assets
 
Liabilities
 
(In millions)
 
(In millions)
Interest Contracts
$
3

 
$
4

 
$
0

 
$
9

Total
$
3

 
$
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 and nine months ended September 30, 2014 and 2013.
 
 
 
 
Three months ended
 
Consolidated Statement of
Earnings Locations
 
September 30,
 
 
2014
 
2013
 
 
 
(In millions)
Effective amounts recognized in earnings
 
 
 
 
 
FX Contracts
Other income/expense – net
 
$
2

 
$
0

Interest Contracts
Interest expense
 
1

 
1

Commodity Contracts
Cost of products sold
 
(110
)
 
(2
)
 
Revenues
 
(1
)
 
(2
)
Ineffective amount recognized in earnings
 
 
 
 
 
Commodity Contracts
Revenues
 
(4
)
 
—


Cost of products sold
 
(12
)
 
(73
)
Total amount recognized in earnings
 
 
$
(124
)
 
$
(76
)

 
 
 
Nine months ended
 
Consolidated Statement of
Earnings Locations
 
September 30,
 
 
2014
 
2013
 
 
 
(In millions)
Effective amounts recognized in earnings
 
 
 
 
 
FX Contracts
Other income/expense – net
 
$
2

 
$
0

Interest Contracts
Interest expense
 
1

 
1

Commodity Contracts
Cost of products sold
 
(103
)
 
(7
)
 
Revenues
 
(86
)
 
3

Ineffective amount recognized in earnings
 
 
 
 
 
Commodity Contracts
Revenues
 
(28
)
 
—


Cost of products sold
 
(19
)
 
(128
)
Total amount recognized in earnings
 
 
$
(233
)
 
$
(131
)
The following table sets forth the fair value of derivatives not designated as hedging instruments as of September 30, 2014 and December 31, 2013.

 
September 30, 2014
 
December 31, 2013
 
Assets
 
Liabilities
 
Assets
 
Liabilities
 
(In millions)
 
(In millions)
 
 
 
 
 
 
 
 
FX Contracts
$
239

 
$
246

 
$
118

 
$
166

Interest Contracts
—

 
—

 
1

 
—

Commodity Contracts
1,289

 
1,065

 
850

 
649

Total
$
1,528

 
$
1,311

 
$
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 and nine months ended September 30, 2014 and 2013.

 
Three months ended September 30,
 
2014
 
2013
 
(In millions)
 
 
 
 
Interest Contracts
 
 
 
Interest expense
$
—

 
$
0

Other income (expense) – net
—

 
1

 
 
 
 
FX Contracts
 

 
 

Revenues
$
5

 
$
(3
)
Cost of products sold
17

 
29

Other income (expense) – net
(148
)
 
85

 
 
 
 
Commodity Contracts
 

 
 

Cost of products sold
$
720

 
$
(3
)
Total gain (loss) recognized in earnings
$
594

 
$
109



 
Nine months ended September 30,
 
2014
 
2013
 
(In millions)
Interest Contracts
 
 
 
Interest expense
$
—

 
$
0

Other income (expense) – net
0

 
1

 
 
 
 
FX Contracts
 

 
 

Revenues
$
(3
)
 
$
106

Cost of products sold
105

 
(58
)
Other income (expense) – net
(172
)
 
30

 
 
 
 
Commodity Contracts
 

 
 

Cost of products sold
$
213

 
$
204

Total gain (loss) recognized in earnings
$
143

 
$
283
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 and nine months ended September 30, 2014 and 2013.
 
Three months ended
 
September 30,
 
2014
 
2013
 
(In millions)
Balance at June 30, 2014 and 2013
$
(12
)
 
$
6

Unrealized gains (losses)
(49
)
 
13

Losses (gains) reclassified to earnings
108

 
3

Tax effect
(23
)
 
(7
)
Balance at September 30, 2014 and 2013
$
24

 
$
15

 
Nine months ended
 
September 30,
 
2014
 
2013
 
(In millions)
 
 
 
 
Balance at December 31, 2013 and 2012
$
5

 
$
4

Unrealized gains (losses)
(154
)
 
15

Losses (gains) reclassified to earnings
186

 
3

Tax effect
(13
)
 
(7
)
Balance at September 30, 2014 and 2013
$
24

 
$
15