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Derivative Instruments and Hedging Activities (Tables)
 9 Months Ended
Sep. 30, 2023
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, 2023 and December 31, 2022.
 September 30, 2023December 31, 2022
 AssetsLiabilitiesAssetsLiabilities
 (In millions)
Foreign Currency Contracts$191 $119 $154 $275 
Commodity Contracts1,747 1,252 1,337 1,248 
Debt Conversion Option— — — 6 
Total$1,938 $1,371 $1,491 $1,529 
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, 2023 and 2022.
Other (income) expense - net
 Cost ofInterest
(In millions)Revenuesproducts soldexpense
Three Months Ended September 30, 2023
Consolidated Statement of Earnings$21,695 $19,885 $(35)$155 
Pre-tax gains (losses) on:
Foreign Currency Contracts$1 $(38)$96 $— 
Commodity Contracts— 168 — — 
Total gain (loss) recognized in earnings$1 $130 $96 $— $227 
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 
Other (income) expense - net
 Cost ofInterest
(In millions)Revenuesproducts soldexpense
Nine Months Ended September 30, 2023
Consolidated Statement of Earnings$70,957 $65,184 $(116)$482 
Pre-tax gains (losses) on:
Foreign Currency Contracts$(25)$210 $123 $— 
Commodity Contracts— 643 — — 
Debt Conversion Option— — — 6 
Total gain (loss) recognized in earnings$(25)$853 $123 $6 $957 
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 
The following table sets forth the fair value of derivatives designated as hedging instruments as of September 30, 2023 and December 31, 2022.

 September 30, 2023December 31, 2022
 AssetsLiabilitiesAssetsLiabilities
 (In millions)
Commodity Contracts$16 $— $— $20 
Foreign Currency Contracts96 — 104 $— 
Interest Rate Contracts— — 109 — 
Total$112 $— $213 $20 
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, 2023 and 2022.

Cost of products sold
(In millions)Revenues
Three Months Ended September 30, 2023
Consolidated Statement of Earnings$21,695 $19,885 
Effective amounts recognized in earnings 
Pre-tax gains (losses) on:
Commodity Contracts$— $(132)
Total gain (loss) recognized in earnings$— $(132)$(132)
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 
Cost of products sold
(In millions)Revenues
Nine Months Ended September 30, 2023
Consolidated Statement of Earnings$70,957 $65,184 
Effective amounts recognized in earnings 
Pre-tax gains (losses) on:
Commodity Contracts$— $(277)
Total gain (loss) recognized in earnings$— $(277)$(277)
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