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Derivative Instruments and Hedging Activities (Tables)
 9 Months Ended
Sep. 30, 2015
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 September 30, 2015 and December 31, 2014.

 
September 30, 2015
 
December 31, 2014
 
Assets
 
Liabilities
 
Assets
 
Liabilities
 
(In millions)
 
(In millions)
 
 
 
 
 
 
 
 
FX Contracts
$
103

 
$
314

 
$
186

 
$
150

Commodity Contracts
782

 
545

 
690

 
776

Total
$
885

 
$
859

 
$
876

 
$
926


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, 2015 and 2014.

 
Three months ended September 30,
 
2015
 
2014
 
(In millions)
 
 
 
 
FX Contracts
 

 
 

Revenues
$
18

 
$
5

Cost of products sold
(200
)
 
17

Other income (expense) – net
59

 
(148
)
 
 
 
 
Commodity Contracts
 

 
 

Cost of products sold
$
586

 
$
720

Total gain (loss) recognized in earnings
$
463

 
$
594

 
Nine months ended September 30,
 
2015
 
2014
 
(In millions)
FX Contracts
 

 
 

Revenues
$
26

 
$
(3
)
Cost of products sold
(263
)
 
105

Other income (expense) – net
67

 
(172
)
 
 
 
 
Commodity Contracts
 

 
 

Cost of products sold
$
573

 
$
213

Total gain (loss) recognized in earnings
$
403

 
$
143


The following table sets forth the fair value of derivatives designated as hedging instruments as of September 30, 2015 and December 31, 2014.

 
September 30, 2015
 
December 31, 2014
 
Assets
 
Liabilities
 
Assets
 
Liabilities
 
(In millions)
 
(In millions)
Interest Contracts
$
30

 
$
—

 
$
21

 
$
—

Total
$
30

 
$
—

 
$
21

 
$
—


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, 2015 and 2014.
 
 
 
 
Three months ended
 
Consolidated Statement of
Earnings Locations
 
September 30,
 
 
2015
 
2014
 
 
 
(In millions)
Effective amounts recognized in earnings
 
 
 
 
 
FX Contracts
Other income/expense – net
 
$
6

 
$
2

Interest Contracts
Interest expense
 
—

 
1

Commodity Contracts
Revenues
 
4

 
(1
)
 
Cost of products sold
 
2

 
(110
)
Ineffective amount recognized in earnings
 
 
 
 
 
Commodity Contracts
Revenues
 
(1
)
 
(4
)

Cost of products sold
 
1

 
(12
)
Total amount recognized in earnings
 
 
$
12

 
$
(124
)

 
 
 
Nine months ended
 
Consolidated Statement of
Earnings Locations
 
September 30,
 
 
2015
 
2014
 
 
 
(In millions)
Effective amounts recognized in earnings
 
 
 
 
 
FX Contracts
Other income/expense – net
 
$
28

 
$
2

Interest Contracts
Interest expense
 
—

 
1

Commodity Contracts
Revenues
 
49

 
(86
)
 
Cost of products sold
 
(16
)
 
(103
)
Ineffective amount recognized in earnings
 
 
 
 
 
Commodity Contracts
Revenues
 
6

 
(28
)

Cost of products sold
 
(3
)
 
(19
)
Interest Contracts
Other income/expense - net
 
1

 
—

Total amount recognized in earnings
 
 
$
65

 
$
(233
)
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, 2015 and 2014.
 
Three months ended
 
September 30,
 
2015
 
2014
 
(In millions)
Balance at June 30, 2015 and 2014
$
41

 
$
(12
)
Unrealized gains (losses)
(34
)
 
(49
)
Losses (gains) reclassified to earnings
(12
)
 
108

Tax effect
13

 
(23
)
Balance at September 30, 2015 and 2014
$
8

 
$
24


 
Nine months ended
 
September 30,
 
2015
 
2014
 
(In millions)
 
 
 
 
Balance at December 31, 2014 and 2013
$
47

 
$
5

Unrealized gains (losses)
(3
)
 
(154
)
Losses (gains) reclassified to earnings
(61
)
 
186

Tax effect
25

 
(13
)
Balance at September 30, 2015 and 2014
$
8

 
$
24