Derivative Instruments and Hedging Activities (Tables)

12 Months Ended

Dec. 31, 2017

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Other Derivatives Not Designated as Hedging Instruments

The following table sets forth the fair value of derivatives not designated as hedging instruments as of December 31, 2017 and 2016.

	December 31, 2017				December 31, 2016
	Assets		Liabilities		Assets		Liabilities
	(In millions)
Foreign Currency Contracts	$	63	$	92	$	102	$	90
Commodity Contracts	386		371		511		561
Total	$	449	$	463	$	613	$	651

The following table sets 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 years ended December 31, 2017, 2016, and 2015.

				Cost of			Other
(In millions)	Revenues			goods sold			income-net
For the Year Ended December 31, 2017
Consolidated Statement of Earnings	$	60,828		$	57,322		$	37
Pre-tax gains (losses) on:
Foreign Currency Contracts	$	(10	)	$	58		$	214
Commodity Contracts	—			375			—
Total gain (loss) recognized in earnings	$	(10	)	$	433		$	214		$	637
For the Year Ended December 31, 2016
Consolidated Statement of Earnings	$	62,346		$	58,727		$	147
Pre-tax gains (losses) on:
Foreign Currency Contracts	$	(35	)	$	291		$	(225	)
Commodity Contracts	—			(383		)	—
Total gain (loss) recognized in earnings	$	(35	)	$	(92	)	$	(225	)	$	(352	)
For the Year Ended December 31, 2015
Consolidated Statement of Earnings	$	67,702		$	63,736		$	350
Pre-tax gains (losses) on:
Foreign Currency Contracts	$	16		$	(185	)	$	8
Commodity Contracts	—			777			—
Total gain (loss) recognized in earnings	$	16		$	592		$	8		$	616

Schedule Of Derivatives Designated As Hedging Instruments

The following table sets forth the fair value of derivatives designated as hedging instruments as of December 31, 2017 and 2016.

	December 31, 2017				December 31, 2016
	Assets		Liabilities		Assets		Liabilities
	(In millions)
Interest Contracts	$	—	$	1	$	11	$	—
Total	$	—	$	1	$	11	$	—

The following table sets forth the pre-tax gains (losses) on derivatives designated as hedging instruments that have been included in the consolidated statement of earnings for the years ended December 31, 2017, 2016, and 2015.

					Cost of			Interest			Other
(In millions)	Revenues				goods sold			expense			income-net
For the Year Ended December 31, 2017
Consolidated Statement of Earnings	$	60,828			$	57,322		$	330		$	37
Effective amounts recognized in earnings
Pre-tax gains (losses) on:
Foreign Currency Contracts	$	—			$	—		$	—		$	(2	)
Interest Contracts	—				—			1			—
Commodity Contracts	(1		)		(45		)	—			—
Total gain (loss) recognized in earnings	$	(1	)		$	(45	)	$	1		$	(2	)	$	(47	)
For the Year Ended December 31, 2016
Consolidated Statement of Earnings	$	62,346			$	58,727		293			$	147
Effective amounts recognized in earnings
Pre-tax gains (losses) on:
Foreign Currency Contracts	$	—			$	—		$	—		$	(18	)
Interest Contracts	—				—			(2		)	—
Commodity Contracts	(35		)		(82		)	—			—
Ineffective amounts recognized in earnings
Pre-tax gains (losses) on:
Commodity Contracts	(5		)		6			—			—
Total gain (loss) recognized in earnings	$	(40	)		$	(76	)	$	(2	)	$	(18	)	$	(136	)
For the Year Ended December 31, 2015
Consolidated Statement of Earnings	$	67,702			$	63,736		$	308		$	350
Effective amounts recognized in earnings
Pre-tax gains (losses) on:
Foreign Currency Contracts	$	—			$	—		$	—		$	29
Interest Contracts	—				—			1			—
Commodity Contracts	41				(25		)	—			—
Ineffective amounts recognized in earnings
Pre-tax gains (losses) on:
Interest Contracts	—			—	—			—			1
Commodity Contracts	6				(12		)	—			—
Total gain (loss) recognized in earnings	$	47			$	(37	)	$	1		$	30		$	41