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Derivative Instruments and Hedging Activities (Tables)
 9 Months Ended
Sep. 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 September 30, 2022 and December 31, 2021.
 September 30, 2022December 31, 2021
 AssetsLiabilitiesAssetsLiabilities
 (In millions)
Foreign Currency Contracts$380 $337 $217 $116 
Commodity Contracts1,373 1,390 1,276 1,759 
Debt Conversion Option— 3 — 15 
Total$1,753 $1,730 $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 nine months ended September 30, 2022 and 2021.
Other expense (income) - net
 Cost ofInterest
(In millions)Revenuesproducts soldexpense
Three Months Ended September 30, 2022
Consolidated Statement of Earnings$24,683 $22,872 $(67)$97 
Pre-tax gains (losses) on:
Foreign Currency Contracts$(5)$6 $151 $— 
Commodity Contracts— 134 — — 
Debt Conversion Option— — — 8 
Total gain (loss) recognized in earnings$(5)$140 $151 $8 $294 
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 
Other expense (income) - net
 Cost ofInterest
(In millions)Revenuesproducts soldexpense
Nine Months Ended September 30, 2022
Consolidated Statement of Earnings$75,617 $69,809 $(183)$262 
Pre-tax gains (losses) on:
Foreign Currency Contracts$(30)$354 $414 $— 
Commodity Contracts— 95 — — 
Debt Conversion Option— — — 12 
Total gain (loss) recognized in earnings$(30)$449 $414 $12 $845 
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)
The following table sets forth the fair value of derivatives designated as hedging instruments as of September 30, 2022 and December 31, 2021.

 September 30, 2022December 31, 2021
 AssetsLiabilitiesAssetsLiabilities
 (In millions)
Commodity Contracts$86 $— $86 $— 
Foreign Currency Contracts371 — 21 $75 
Interest Rate Contracts105 — 46 — 
Total$562 $— $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 nine months ended September 30, 2022 and 2021.

Cost of products sold
(In millions)Revenues
Three Months Ended September 30, 2022
Consolidated Statement of Earnings$24,683 $22,872 
Effective amounts recognized in earnings 
Pre-tax gains (losses) on:
Commodity Contracts$— $117 
Interest Contracts1 — 
Total gain (loss) recognized in earnings$1 $117 $118 
Three Months Ended September 30, 2021
Consolidated Statement of Earnings$20,340 $19,014 
Effective amounts recognized in earnings
Pre-tax gains (losses) on:
Commodity Contracts$— $122 
Interest Contracts— — 
Total gain (loss) recognized in earnings$— $122 $122 

Cost of products sold
(In millions)Revenues
Nine Months Ended September 30, 2022
Consolidated Statement of Earnings$75,617 $69,809 
Effective amounts recognized in earnings 
Pre-tax gains (losses) on:
Commodity Contracts$— $365 
Interest Contracts1 — 
Total gain (loss) recognized in earnings$1 $365 $366 
Nine Months Ended September 30, 2021
Consolidated Statement of Earnings$62,159 $57,822 
Effective amounts recognized in earnings
Pre-tax gains (losses) on:
Commodity Contracts$— $450 
Interest Contracts(15)— 
Total gain (loss) recognized in earnings$(15)$450 $435