Derivative Instruments and Hedging Activities (Tables)

3 Months Ended

Mar. 31, 2018

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, 2018 and December 31, 2017.

	March 31, 2018				December 31, 2017
	Assets		Liabilities		Assets		Liabilities
	(In millions)
Foreign Currency Contracts	$	47	$	106	$	63	$	92
Commodity Contracts	587		740		386		371
Total	$	634	$	846	$	449	$	463

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 three months ended March 31, 2018 and 2017.

				Cost of products sold			Other expense - net
(In millions)	Revenues
Three Months Ended March 31, 2018
Consolidated Statement of Earnings	$	15,526		$	14,637		$	(15	)
Pre-tax gains (losses) on:
Foreign Currency Contracts	$	(3	)	$	(15	)	$	64
Commodity Contracts	—			(313		)	—
Total gain (loss) recognized in earnings	$	(3	)	$	(328	)	$	64		$	(267	)
Three Months Ended March 31, 2017
Consolidated Statement of Earnings	$	14,988		$	14,116		$	2
Pre-tax gains (losses) on:
Foreign Currency Contracts	$	(11	)	$	60		$	1
Commodity Contracts	—			259			—
Total gain (loss) recognized in earnings	$	(11	)	$	319		$	1		$	309

The following table sets forth the fair value of derivatives designated as hedging instruments as of March 31, 2018 and December 31, 2017.

	March 31, 2018				December 31, 2017
	Assets		Liabilities		Assets		Liabilities
	(In millions)
Interest Rate Contracts	$	—	$	1	$	—	$	1
Total	$	—	$	1	$	—	$	1

The following table sets 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, 2018 and 2017.

				Cost of products sold		Other expense - net
(In millions)	Revenues
Three Months Ended March 31, 2018
Consolidated Statement of Earnings	$	15,526		$	14,637	$	(15	)
Effective amounts recognized in earnings
Pre-tax gains (losses) on:
Commodity Contracts	$	2		$	6	$	—
Total gain (loss) recognized in earnings	$	2		$	6	$	—		$	8
Three Months Ended March 31, 2017
Consolidated Statement of Earnings	$	14,988		$	14,116	$	2
Effective amounts recognized in earnings
Pre-tax gains (losses) on:
Foreign Currency Contracts	$	—		$	—	$	(2	)
Commodity Contracts	(1		)	1		$	—
Ineffective amount recognized in earnings
Commodity Contracts	4			5		$	—
Total gain (loss) recognized in earnings	$	3		$	6	$	(2	)	$	7