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Derivative Instruments and Hedging Activities (Tables)
 6 Months Ended
Jun. 30, 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 June 30, 2018 and December 31, 2017.

 
June 30, 2018
 
December 31, 2017
 
Assets
 
Liabilities
 
Assets
 
Liabilities
 
(In millions)
 
 
 
 
 
 
 
 
Foreign Currency Contracts
$
246

 
$
335

 
$
63

 
$
92

Commodity Contracts
717

 
818

 
386

 
371

Total
$
963

 
$
1,153

 
$
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 and six months ended June 30, 2018 and 2017.

 
 
 
Cost of products sold
 
Other expense - net
 
 
(In millions)
Revenues
 
 
 
 
Three Months Ended June 30, 2018
 
 

 
 
 
 
Consolidated Statement of Earnings
$
17,068

 
$
15,887

 
$
(2
)
 
 
 
 
 
 
 
 
 
 
Pre-tax gains (losses) on:
 
 
 
 
 
 
 
Foreign Currency Contracts
$
28

 
$
(186
)
 
$
(126
)
 
 
Commodity Contracts
—

 
392

 
—

 
 
Total gain (loss) recognized in earnings
$
28

 
$
206

 
$
(126
)
 
$
108

 
 
 
 
 
 
 
 
Three Months Ended June 30, 2017
 
 
 
 
 
 
 
Consolidated Statement of Earnings
$
14,943

 
$
14,051

 
$
9

 
 
 
 
 
 
 
 
 
 
Pre-tax gains (losses) on:
 
 
 
 
 
 
 
Foreign Currency Contracts
$
3

 
$
(30
)
 
$
133

 
 
Commodity Contracts
—

 
1

 
—

 
 
Total gain (loss) recognized in earnings
$
3

 
$
(29
)
 
$
133

 
$
107

 
 
 
Cost of products sold
 
Other expense - net
 
 
(In millions)
Revenues
 
 
 
 
Six Months Ended June 30, 2018
 
 
 
 
 
 
 
Consolidated Statement of Earnings
$
32,594

 
$
30,524

 
$
(17
)
 
 
 
 
 
 
 
 
 
 
Pre-tax gains (losses) on:
 
 
 
 
 
 
 
Foreign Currency Contracts
$
25

 
$
(201
)
 
$
(61
)
 
 
Commodity Contracts
—

 
79

 
—

 
 
Total gain (loss) recognized in earnings
$
25

 
$
(122
)
 
$
(61
)
 
$
(158
)
 
 
 
 
 
 
 
 
Six Months Ended June 30, 2017
 
 
 
 
 
 
 
Consolidated Statement of Earnings
$
29,931

 
$
28,167

 
$
11

 
 
 
 
 
 
 
 
 
 
Pre-tax gains (losses) on:
 
 
 
 
 
 
 
Foreign Currency Contracts
$
(8
)
 
$
30

 
$
134

 
 
Commodity Contracts
—

 
260

 
—

 
 
Total gain (loss) recognized in earnings
$
(8
)
 
$
290

 
$
134

 
$
416

 
 
 
 
 
 
 
 
The following table sets forth the fair value of derivatives designated as hedging instruments as of June 30, 2018 and December 31, 2017.

 
June 30, 2018
 
December 31, 2017
 
Assets
 
Liabilities
 
Assets
 
Liabilities
 
(In millions)
Interest Rate Contracts
$
—

 
$
8

 
$
—

 
$
1

Total
$
—

 
$
8

 
$
—

 
$
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 and six months ended June 30, 2018 and 2017.
 
 
 
 
Cost of products sold
 
Interest expense
 
Other income - net
 
 
(In millions)
Revenues
 
 
 
 
 
Three Months Ended June 30, 2018
 
 
 
 
 
 

Consolidated Statement of Earnings
$
17,068

 
$
15,887

 
$
89

 
$
(2
)
 
 
 
 
 
 
 
 
 
 
 
 
Effective amounts recognized in earnings
 
 
 
 
 
 
 
 
 
Pre-tax gains (losses) on:
 
 
 
 
 
 
 
 
 
Commodity Contracts
$
(1
)
 
$
(34
)
 
$
—

 
$
—

 
 
Interest Contracts
—

 
—

 
1

 
—

 
 
Total gain (loss) recognized in earnings
$
(1
)
 
$
(34
)
 
$
1

 
$
—

 
$
(34
)
 
 
 
 
 
 
 
 
 
 
Three Months Ended June 30, 2017
 
 
 
 
 
 
 
 
 
Consolidated Statement of Earnings
$
14,943

 
$
14,051

 
$
86

 
$
9

 
 
 
 
 
 
 
 
 
 
 
 
Effective amounts recognized in earnings
 
 
 
 
 
 
 
 
 
Pre-tax gains (losses) on:
 
 
 
 
 
 
 
 
 
Foreign Currency Contracts
$
—

 
$
—

 
$
—

 
$
—

 
 
Commodity Contracts
1

 
(6
)
 
—

 
—

 
 
Ineffective amount recognized in earnings
 
 
 
 
 
 
 
 
 
Commodity Contracts
—

 
4

 
—

 
—

 
 
Total gain (loss) recognized in earnings
$
1

 
$
(2
)
 
$
—

 
$
—

 
$
(1
)

 
 
 
 
 
 
 
 
 
 
 
 
Cost of products sold
 
Interest expense
 
Other income - net
 
 
(In millions)
Revenues
 
 
 
 
 
Six Months Ended June 30, 2018
 
 
 
 
 
 
 
Consolidated Statement of Earnings
$
32,594

 
$
30,524

 
$
180

 
$
(17
)
 
 

 
 
 
 
 
 
 
 
 
Effective amounts recognized in earnings

 
 
 
 
 
 
 
 
Pre-tax gains (losses) on:


 
 
 
 
 
 
 
 
Commodity Contracts
$
1

 
$
(28
)
 
$
—

 
$
—

 
 
Interest Contracts
—

 
—

 
1

 
—

 
 
Total gain (loss) recognized in earnings
$
1

 
$
(28
)
 
$
1

 
$
—

 
$
(26
)
 
 
 
 
 
 
 
 
 
 
Six Months Ended June 30, 2017


 
 
 
 
 
 
 
 
Consolidated Statement of Earnings
$
29,931

 
$
28,167

 
$
167

 
$
11

 
 

 
 
 
 
 
 
 
 
 
Effective amounts recognized in earnings
 
 
 
 
 
 
 
 
 
Pre-tax gains (losses) on:
 
 
 
 
 
 
 
 
 
Foreign Currency Contracts
$
—

 
$
—

 
$
—

 
$
(2
)
 
 
Commodity Contracts
—

 
(5
)
 
—

 
—

 
 
Ineffective amount recognized in earnings
 
 
 
 
 
 
 
 
 
Commodity Contracts
4

 
9

 
—

 
—

 
 
Total gain (loss) recognized in earnings
$
4

 
$
4

 
$
—

 
$
(2
)
 
$
6