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Derivative Instruments and Hedging Activities (Tables)
 6 Months Ended
Jun. 30, 2022
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, 2022 and December 31, 2021.
 June 30, 2022December 31, 2021
 AssetsLiabilitiesAssetsLiabilities
 (In millions)
Foreign Currency Contracts$368 $223 $217 $116 
Interest Rate Contracts3 — — — 
Commodity Contracts1,781 1,902 1,276 1,759 
Debt Conversion Option— 11 — 15 
Total$2,152 $2,136 $1,493 $1,890 
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, 2022 and 2021.
Other expense (income) - net
 Cost ofInterest
(In millions)Revenuesproducts soldexpense
Three Months Ended June 30, 2022
Consolidated Statement of Earnings$27,284 $25,184 $(83)$73 
Pre-tax gains (losses) on:
Foreign Currency Contracts$13 $(95)$240 $— 
Commodity Contracts— 1,062 — — 
Debt Conversion Option— — — 19 
Total gain (loss) recognized in earnings$13 $967 $240 $19 $1,239 
Three Months Ended June 30, 2021
Consolidated Statement of Earnings$22,926 $21,463 $49 $40 
Pre-tax gains (losses) on:
Foreign Currency Contracts$(43)$214 $(45)$— 
Commodity Contracts— (673)— — 
Debt Conversion Option— — — 30 
Total gain (loss) recognized in earnings$(43)$(459)$(45)$30 $(517)
Other expense (income) - net
 Cost ofInterest
(In millions)Revenuesproducts soldexpense
Six Months Ended June 30, 2022
Consolidated Statement of Earnings$50,934 $46,937 $(116)$165 
Pre-tax gains (losses) on:
Foreign Currency Contracts$(25)$348 $263 $— 
Commodity Contracts— (39)— — 
Debt Conversion Option— — — 4 
Total gain (loss) recognized in earnings$(25)$309 $263 $4 $551 
Six Months Ended June 30, 2021
Consolidated Statement of Earnings$41,819 $38,808 $16 $127 
Pre-tax gains (losses) on:
Foreign Currency Contracts$(13)$(48)$75 $— 
Commodity Contracts— (1,455)— — 
Debt Conversion Option— — — 10 
Total gain (loss) recognized in earnings$(13)$(1,503)$75 $10 $(1,431)
The following table sets forth the fair value of derivatives designated as hedging instruments as of June 30, 2022 and December 31, 2021.

 June 30, 2022December 31, 2021
 AssetsLiabilitiesAssetsLiabilities
 (In millions)
Commodity Contracts$112 $— $86 $— 
Foreign Currency Contracts164 — 21 $75 
Interest Rate Contracts92 — 46 — 
Total$368 $— $153 $75 
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, 2022 and 2021.

Cost of products sold
(In millions)Revenues
Three Months Ended June 30, 2022
Consolidated Statement of Earnings$27,284 $25,184 
Effective amounts recognized in earnings 
Pre-tax gains (losses) on:
Commodity Contracts$— $150 
Total gain (loss) recognized in earnings$— $150 $150 
Three Months Ended June 30, 2021
Consolidated Statement of Earnings$22,926 $21,463 
Effective amounts recognized in earnings
Pre-tax gains (losses) on:
Commodity Contracts$— $239 
Interest Contracts(1)— 
Total gain (loss) recognized in earnings$(1)$239 $238 

Cost of products sold
(In millions)Revenues
Six Months Ended June 30, 2022
Consolidated Statement of Earnings$50,934 $46,937 
Effective amounts recognized in earnings 
Pre-tax gains (losses) on:
Commodity Contracts$— $248 
Total gain (loss) recognized in earnings$— $248 $248 
Six Months Ended June 30, 2021
Consolidated Statement of Earnings$41,819 $38,808 
Effective amounts recognized in earnings
Pre-tax gains (losses) on:
Commodity Contracts$— $328 
Interest Contracts(15)— 
Total gain (loss) recognized in earnings$(15)$328 $313