v3.21.1
DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES - DERIVATIVE POSITIONS (Details)
$ in Millions
3 Months Ended 12 Months Ended
Mar. 31, 2021
USD ($)
MMBTU
day
t
Dec. 31, 2020
USD ($)
MMBTU
day
t
Interest rate | Long | Swaps    
Derivative    
Notional amount of derivative $ (2,293) $ (1,989)
Interest rate | Long | Forward Rate Agreements    
Derivative    
Notional amount of derivative 0 (1,216)
Interest rate | Short | Swaps    
Derivative    
Notional amount of derivative (2,363) (1,418)
Interest rate | Short | Forward Rate Agreements    
Derivative    
Notional amount of derivative 0 (805)
Foreign exchange | Long | Swaps    
Derivative    
Notional amount of derivative (21) (422)
Foreign exchange | Long | Forwards    
Derivative    
Notional amount of derivative (9,498) (11,272)
Foreign exchange | Long | Futures    
Derivative    
Notional amount of derivative 0 0
Foreign exchange | Long | Options    
Derivative    
Delta (143) (100)
Foreign exchange | Short | Swaps    
Derivative    
Notional amount of derivative (18) (413)
Foreign exchange | Short | Forwards    
Derivative    
Notional amount of derivative (12,157) (13,171)
Foreign exchange | Short | Futures    
Derivative    
Notional amount of derivative (1) (55)
Foreign exchange | Short | Options    
Derivative    
Delta $ (138) $ (142)
Commodities | Long | Swaps    
Derivative    
Nonmonetary notional amount of derivatives | t (40,855) 0
Commodities | Long | Forwards    
Derivative    
Nonmonetary notional amount of derivatives | t (34,232,205) (38,332,313)
Commodities | Long | Futures    
Derivative    
Nonmonetary notional amount of derivatives | t 0 0
Commodities | Long | Options    
Derivative    
Nonmonetary notional amount of derivatives | t (531,327) 0
Commodities | Short | Swaps    
Derivative    
Nonmonetary notional amount of derivatives | t (5,898,815) (1,700,972)
Commodities | Short | Forwards    
Derivative    
Nonmonetary notional amount of derivatives | t (37,288,172) (39,743,593)
Commodities | Short | Futures    
Derivative    
Nonmonetary notional amount of derivatives | t (5,590,473) (11,422,365)
Commodities | Short | Options    
Derivative    
Nonmonetary notional amount of derivatives | t (255,601) (280,240)
Ocean freight | Long | Forwards    
Derivative    
Nonmonetary notional amount of derivatives | day (12,440) (3,055)
Ocean freight | Long | Options    
Derivative    
Nonmonetary notional amount of derivatives | day (378) 0
Ocean freight | Short | Forwards    
Derivative    
Nonmonetary notional amount of derivatives | day (14,495) 0
Ocean freight | Short | Options    
Derivative    
Nonmonetary notional amount of derivatives | day 0 0
Natural gas | Long | Swaps    
Derivative    
Nonmonetary notional amount of derivatives | MMBTU (864,929) (1,040,284)
Natural gas | Long | Futures    
Derivative    
Nonmonetary notional amount of derivatives | MMBTU (4,532,500) (7,210,000)
Natural gas | Short | Swaps    
Derivative    
Nonmonetary notional amount of derivatives | MMBTU 0 0
Natural gas | Short | Futures    
Derivative    
Nonmonetary notional amount of derivatives | MMBTU 0 0
Energy - other | Long | Swaps    
Derivative    
Nonmonetary notional amount of derivatives | t (355,117) (413,542)
Energy - other | Short | Swaps    
Derivative    
Nonmonetary notional amount of derivatives | t 0 0
Other | Long | Swaps and futures    
Derivative    
Notional amount of derivative $ 0 $ (30)
Other | Short | Swaps and futures    
Derivative    
Notional amount of derivative (20) (30)
Fair Value Hedging | Interest rate    
Derivative    
Carrying value of hedged debt 2,953 2,465
Cumulative adjustment to long-term debt from application of hedge accounting 27 92
Notional amount of derivative (2,938) (2,382)
Fair Value Hedging | Foreign exchange    
Derivative    
Carrying value of hedged debt 277 297
Notional amount of derivative (277) (297)
Cash Flow Hedges | Foreign exchange    
Derivative    
Amounts expected to be reclassified from AOCI to earnings in the next twelve months (7)  
Cash Flow Hedges | Foreign exchange | Forwards    
Derivative    
Notional amount of derivative (54) (182)
Cash Flow Hedges | Foreign exchange | Options    
Derivative    
Notional amount of derivative (117) (90)
Net Investment Hedges | Foreign exchange    
Derivative    
Notional amount of derivative $ (1,520) $ (1,875)