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Financial Instruments - Assets and Liabilities Measured on Recurring Basis (Detail) - USD ($)
$ in Millions
Oct. 01, 2017
Dec. 31, 2016
Other selected financial assets    
Total selected financial assets $ 22,815 $ 24,175
Short-term borrowings:    
Total short-term borrowings, carried at historical proceeds, as adjusted [1],[2] 9,448 10,688
Long-term debt:    
Total long-term debt, carried at historical proceeds, as adjusted [1],[3] 34,503 31,398
Total 43,951 42,085
Total selected financial liabilities 45,124 43,750
Reported Value Measurement [Member]    
Other selected financial assets    
Held-to-maturity debt securities, carried at amortized cost [2],[4] 1,464 1,242
Restricted stock and private equity securities, carried at cost or at equity-method [2] 719 735
Total 2,183 1,977
Long-term debt [Member]    
Short-term borrowings:    
Net fair value adjustments related to hedging and purchase accounting 981 998
Net unamortized discounts, premiums and debt issuance costs (149) (130)
Long-term debt:    
Principal amount 33,671 30,529
Short-term Debt [Member]    
Short-term borrowings:    
Principal amount 9,460 10,674
Net fair value adjustments related to hedging and purchase accounting 2 24
Net unamortized discounts, premiums and debt issuance costs (15) (11)
Fair Value, Measurements, Recurring [Member]    
Assets, Fair Value Disclosure [Abstract]    
Trading funds and securities [5],[6] 347 325
Selected financial assets measured at fair value on a recurring basis [6],[7] 20,631 22,198
Selected financial liabilities measured at fair value on a recurring basis    
Derivative financial instruments in a liability position [6],[8] 1,173 1,665
Fair Value, Measurements, Recurring [Member] | Interest Rate Swaps [Member]    
Assets, Fair Value Disclosure [Abstract]    
Derivative financial instruments in a receivable position [6],[7] 630 625
Selected financial liabilities measured at fair value on a recurring basis    
Derivative financial instruments in a liability position [6],[8] 154 148
Fair Value, Measurements, Recurring [Member] | Foreign Currency Swap [Member]    
Assets, Fair Value Disclosure [Abstract]    
Derivative financial instruments in a receivable position [6],[7] 92 79
Selected financial liabilities measured at fair value on a recurring basis    
Derivative financial instruments in a liability position [6],[8] 710 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 [6],[7] 110 551
Selected financial liabilities measured at fair value on a recurring basis    
Derivative financial instruments in a liability position [6],[8] 309 143
Fair Value, Measurements, Recurring [Member] | Available-for-sale Debt Securities [Member]    
Assets, Fair Value Disclosure [Abstract]    
Available-for-sale securities [4],[6] 16,598 18,632
Fair Value, Measurements, Recurring [Member] | Money Market Funds [Member]    
Assets, Fair Value Disclosure [Abstract]    
Available-for-sale securities [6] 1,824 1,445
Fair Value, Measurements, Recurring [Member] | Equity Securities [Member]    
Assets, Fair Value Disclosure [Abstract]    
Available-for-sale securities [4],[6] $ 1,032 $ 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, restricted stock and private equity securities at cost, and short-term borrowings not measured at fair value on a recurring basis were not significant as of October 1, 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 $39.0 billion as of October 1, 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 $4.7 billion as of October 1, 2017, which are used as hedging instruments.
[4] Gross unrealized gains and losses are not significant, except as of October 1, 2017, available-for-sale equity securities’ unrealized gains are $406 million and unrealized losses are $119 million.
[5] As of October 1, 2017, trading funds and securities are composed of $274 million of trading equity funds and $74 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 October 1, 2017 and December 31, 2016, trading equity funds of $63 million and $71 million, respectively, are held in trust for benefits attributable to the former Pharmacia Savings Plus Plan.
[6] 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 5% that use Level 1 inputs.
[7] Designated as hedging instruments, except for certain contracts used as offsets; namely, foreign currency forward-exchange contracts with fair values of $40 million as of October 1, 2017; and foreign currency forward-exchange contracts with fair values of $162 million as of December 31, 2016.
[8] Designated as hedging instruments, except for certain contracts used as offsets; namely, foreign currency forward-exchange contracts with fair values of $60 million as of October 1, 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.