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Financial Instruments - Assets and Liabilities Measured on Recurring Basis (Detail) - USD ($)
$ in Millions
Apr. 02, 2017
Dec. 31, 2016
Other selected financial assets    
Total selected financial assets $ 19,896 $ 24,175
Short-term borrowings:    
Total short-term borrowings, carried at historical proceeds, as adjusted [1],[2] 7,680 10,688
Long-term debt:    
Total long-term debt, carried at historical proceeds, as adjusted [1],[3] 36,330 31,398
Total 44,010 42,085
Total selected financial liabilities 45,775 43,750
Reported Value Measurement [Member]    
Other selected financial assets    
Held-to-maturity debt securities, carried at amortized cost [2],[4] 1,857 1,242
Restricted stock and private equity securities, carried at cost or at equity-method [2],[5] 1,187 735
Total 3,044 1,977
Long-term debt [Member]    
Short-term borrowings:    
Net fair value adjustments related to hedging and purchase accounting 896 998
Net unamortized discounts, premiums and debt issuance costs (156) (130)
Long-term debt:    
Principal amount 35,590 30,529
Short-term Debt [Member]    
Short-term borrowings:    
Principal amount 7,678 10,674
Net fair value adjustments related to hedging and purchase accounting 10 24
Net unamortized discounts, premiums and debt issuance costs (8) (11)
Fair Value, Measurements, Recurring [Member]    
Assets, Fair Value Disclosure [Abstract]    
Trading funds and securities [6],[7] 297 325
Selected financial assets measured at fair value on a recurring basis [7],[8] 16,852 22,198
Selected financial liabilities measured at fair value on a recurring basis    
Derivative financial instruments in a liability position [7],[9] 1,765 1,665
Fair Value, Measurements, Recurring [Member] | Interest Rate Swaps [Member]    
Assets, Fair Value Disclosure [Abstract]    
Derivative financial instruments in a receivable position [7],[8] 648 625
Selected financial liabilities measured at fair value on a recurring basis    
Derivative financial instruments in a liability position [7],[9] 227 148
Fair Value, Measurements, Recurring [Member] | Foreign Currency Swap [Member]    
Assets, Fair Value Disclosure [Abstract]    
Derivative financial instruments in a receivable position [7],[8] 232 79
Selected financial liabilities measured at fair value on a recurring basis    
Derivative financial instruments in a liability position [7],[9] 1,396 1,374
Fair Value, Measurements, Recurring [Member] | Foreign Currency Forward-Exchange Contracts [Member]    
Assets, Fair Value Disclosure [Abstract]    
Derivative financial instruments in a receivable position [7],[8] 179 551
Selected financial liabilities measured at fair value on a recurring basis    
Derivative financial instruments in a liability position [7],[9] 143 143
Fair Value, Measurements, Recurring [Member] | Debt Securities [Member]    
Assets, Fair Value Disclosure [Abstract]    
Available-for-sale securities [4],[7] 13,236 18,632
Fair Value, Measurements, Recurring [Member] | Money Market Funds [Member]    
Assets, Fair Value Disclosure [Abstract]    
Available-for-sale securities [7] 1,706 1,445
Fair Value, Measurements, Recurring [Member] | Equity Securities [Member]    
Assets, Fair Value Disclosure [Abstract]    
Available-for-sale securities [4],[7] $ 553 $ 540
[1] Amounts may not add due to rounding.
[2] The differences between the estimated fair values and carrying values of held-to-maturity debt securities, private equity securities at cost and short-term borrowings not measured at fair value on a recurring basis were not significant as of April 2, 2017 or December 31, 2016. The fair value measurements of our held-to-maturity debt securities and our short-term borrowings are based on Level 2 inputs, using a market approach. The fair value measurements of our private equity securities carried at cost are based on Level 3 inputs.
[3] The fair value of our long-term debt (not including the current portion of long-term debt) was $40.4 billion as of April 2, 2017 and $34.9 billion as of December 31, 2016. The fair value measurements for our long-term debt are based on Level 2 inputs, using a market approach. Long-term debt includes foreign currency long-term borrowings with fair values of $4.3 billion as of April 2, 2017, which are used as hedging instruments.
[4] Gross unrealized gains and losses are not significant.
[5] Restricted stock as of April 2, 2017 is primarily composed of $428 million representing the value of 3.2 million shares of ICU Medical common stock received on February 3, 2017. See Note 2B for additional information. Our private equity securities represent investments in the life sciences sector.
[6] As of April 2, 2017, trading funds and securities are composed of $238 million of trading equity funds and $59 million of trading debt funds. As of December 31, 2016, trading funds and securities are composed of $236 million of trading equity funds and $89 million of trading debt funds. As of April 2, 2017 and December 31, 2016, trading equity funds of $53 million and $71 million, respectively, are held in trust for benefits attributable to the former Pharmacia Savings Plus Plan.
[7] We use a market approach in valuing financial instruments on a recurring basis. All of our financial assets and liabilities measured at fair value on a recurring basis use Level 2 inputs in the calculation of fair value, except less than 2% that use Level 1 inputs and money market funds measured at net asset value.
[8] Designated as hedging instruments, except for certain contracts used as offsets; namely, foreign currency forward-exchange contracts with fair values of $36 million as of April 2, 2017; and foreign currency forward-exchange contracts with fair values of $162 million as of December 31, 2016.
[9] Designated as hedging instruments, except for certain contracts used as offsets; namely, foreign currency swaps with fair values of $261 million and foreign currency forward-exchange contracts with fair values of $106 million as of April 2, 2017; and foreign currency swaps with fair values of $269 million and foreign currency forward-exchange contracts with fair values of $113 million as of December 31, 2016.