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Derivative Instruments and Hedging Activities (Tables)
 9 Months Ended
Sep. 30, 2021
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 September 30, 2021 and December 31, 2020.

 September 30, 2021December 31, 2020
 AssetsLiabilitiesAssetsLiabilities
 (In millions)
Foreign Currency Contracts$328 $139 $283 $270 
Commodity Contracts1,448 1,607 2,764 2,034 
Debt Conversion Option— 17 — 34 
Total$1,776 $1,763 $3,047 $2,338 

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 nine months ended September 30, 2021 and 2020.
Other expense (income) - net
 Cost ofInterest
(In millions)Revenuesproducts soldexpense
Three Months Ended September 30, 2021
Consolidated Statement of Earnings$20,340 $19,014 $20 $61 
Pre-tax gains (losses) on:
Foreign Currency Contracts$13 $(92)$62 $— 
Commodity Contracts— 214 — — 
Debt Conversion Option— — — 7 
Total gain (loss) recognized in earnings$13 $122 $62 $7 $204 
Three Months Ended September 30, 2020
Consolidated Statement of Earnings$15,126 $14,084 $282 $100 
Pre-tax gains (losses) on:
Foreign Currency Contracts$8 $(77)$(85)$— 
Commodity Contracts— (272)— — 
Debt Conversion Option— — — (15)
Total gain (loss) recognized in earnings$8 $(349)$(85)$(15)$(441)
Other expense (income) - net
 Cost ofInterest
(In millions)Revenuesproducts soldexpense
Nine Months Ended September 30, 2021
Consolidated Statement of Earnings$62,159 $57,822 $36 $188 
Pre-tax gains (losses) on:
Foreign Currency Contracts$— $(140)$137 $— 
Commodity Contracts— (1,241)— — 
Debt Conversion Option— — — 17 
Total gain (loss) recognized in earnings$— $(1,381)$137 $17 $(1,227)
Nine Months Ended September 30, 2020
Consolidated Statement of Earnings$46,377 $43,276 $202 $270 
Pre-tax gains (losses) on:
Foreign Currency Contracts$54 $(738)$(13)$— 
Commodity Contracts— 321 55 — 
Debt Conversion Option— — — (15)
Total gain (loss) recognized in earnings$54 $(417)$42 $(15)$(336)
The following table sets forth the fair value of derivatives designated as hedging instruments as of September 30, 2021 and December 31, 2020.

 September 30, 2021December 31, 2020
 AssetsLiabilitiesAssetsLiabilities
 (In millions)
Foreign Currency Contracts$9 $117 $— $265 
Interest Rate Contracts58 1 61 15 
Total$67 $118 $61 $280 

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 nine months ended September 30, 2021 and 2020.

Cost of products sold
(In millions)Revenues
Three Months Ended September 30, 2021
Consolidated Statement of Earnings$20,340 $19,014 
Effective amounts recognized in earnings 
Pre-tax gains (losses) on:
Commodity Contracts$— $122 
Total gain (loss) recognized in earnings$— $122 $122 
Three Months Ended September 30, 2020
Consolidated Statement of Earnings$15,126 $14,084 
Effective amounts recognized in earnings
Pre-tax gains (losses) on:
Commodity Contracts$1 $79 
Interest Contracts(14)— 
Total gain (loss) recognized in earnings$(13)$79 $66 
Cost of products soldInterest expense
(In millions)Revenues
Nine Months Ended September 30, 2021
Consolidated Statement of Earnings$62,159 $57,822 $188 
Effective amounts recognized in earnings 
Pre-tax gains (losses) on:
Commodity Contracts$— $450 $— 
Interest Contracts(15)— — 
Total gain (loss) recognized in earnings$(15)$450 $— $435 
Nine Months Ended September 30, 2020
Consolidated Statement of Earnings$46,377 $43,276 $270 
Effective amounts recognized in earnings
Pre-tax gains (losses) on:
Commodity Contracts$9 $19 $— 
Interest Contracts(55)— (8)
Total gain (loss) recognized in earnings$(46)$19 $(8)$(35)