Derivative Instruments and Hedging Activities (Tables)

3 Months Ended

Mar. 31, 2016

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, 2016 and December 31, 2015.

	March 31, 2016				December 31, 2015
	Assets		Liabilities		Assets		Liabilities
	(In millions)				(In millions)
FX Contracts	$	134	$	206	$	93	$	186
Commodity Contracts	704		470		646		419
Total	$	838	$	676	$	739	$	605

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, 2016 and 2015.

	Three months ended March 31,
	2016			2015
	(In millions)
FX Contracts
Revenues	$	—		$	20
Cost of products sold	107			(69		)
Other income (expense) – net	(1		)	(23		)
Commodity Contracts
Cost of products sold	$	(10	)	$	238
Total gain (loss) recognized in earnings	$	96		$	166

The following table sets forth the fair value of derivatives designated as hedging instruments as of March 31, 2016 and December 31, 2015.

	March 31, 2016				December 31, 2015
	Assets		Liabilities		Assets		Liabilities
	(In millions)				(In millions)
Interest Contracts	$	33	$	—	$	19	$	—
Total	$	33	$	—	$	19	$	—

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, 2016 and 2015.

		Three months ended
	Consolidated Statement of Earnings Locations	March 31,
		2016			2015
		(In millions)
Effective amounts recognized in earnings
FX Contracts	Other income/expense – net	$	(14	)	$	17
Commodity Contracts	Cost of products sold	(19		)	—
	Revenues	1			47
Ineffective amount recognized in earnings
Commodity Contracts	Revenues	2			7
	Cost of products sold	2			(13		)
Total amount recognized in earnings		$	(28	)	$	58