Derivative Instruments and Hedging Activities (Tables)

6 Months Ended

Jun. 30, 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 June 30, 2016 and December 31, 2015.

	June 30, 2016				December 31, 2015
	Assets		Liabilities		Assets		Liabilities
	(In millions)
FX Contracts	$	109	$	247	$	93	$	186
Interest Contracts	2		—		—		—
Commodity Contracts	1,120		1,190		646		419
Total	$	1,231	$	1,437	$	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 and six months ended June 30, 2016 and 2015.

	Three months ended June 30,
	2016			2015
	(In millions)
FX Contracts
Revenues	$	(13	)	$	(12	)
Cost of products sold	155			6
Other income (expense) – net	(104		)	31
Commodity Contracts
Cost of products sold	$	(625	)	$	(251	)
Total gain (loss) recognized in earnings	$	(587	)	$	(226	)

	Six months ended June 30,
	2016			2015
	(In millions)
FX Contracts
Revenues	$	(13	)	$	8
Cost of products sold	262			(63		)
Other income (expense) – net	(105		)	8
Commodity Contracts
Cost of products sold	$	(635	)	$	(13	)
Total gain (loss) recognized in earnings	$	(491	)	$	(60	)

The following table sets forth the fair value of derivatives designated as hedging instruments as of June 30, 2016 and December 31, 2015.

	June 30, 2016				December 31, 2015
	Assets		Liabilities		Assets		Liabilities
	(In millions)
Interest Contracts	$	39	$	—	$	19	$	—
Total	$	39	$	—	$	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 and six months ended June 30, 2016 and 2015.

		Three months ended
	Consolidated Statement of Earnings Locations	June 30,
		2016			2015
		(In millions)
Effective amounts recognized in earnings
FX Contracts	Other income/expense – net	$	(8	)	$	5
Commodity Contracts	Cost of products sold	(5		)	(18		)
	Revenues	(6		)	(2		)
Ineffective amount recognized in earnings
Commodity Contracts	Cost of products sold	2			9
	Other income/expense – net	(1		)	1
Total amount recognized in earnings		$	(18	)	$	(5	)

		Six months ended
	Consolidated Statement of Earnings Locations	June 30,
		2016			2015
		(In millions)
Effective amounts recognized in earnings
FX Contracts	Other income/expense – net	$	(22	)	$	22
Commodity Contracts	Cost of products sold	(24		)	(18		)
	Revenues	(5		)	45
Ineffective amount recognized in earnings
Commodity Contracts	Revenues	1			7
	Cost of products sold	4			(4		)
	Other income/expense – net	—			1
Total amount recognized in earnings		$	(46	)	$	53