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Financial Instruments (Tables) | 9 Months Ended
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Sep. 30, 2018
Derivative Instruments and Hedging Activities Disclosures [Line Items] |
Schedule of Pre-tax Effects of Derivative Instruments | Pre-tax gains/(losses) recorded in net earnings for economic hedges were:
| For the Three Months Ended September 30, |  | For the Nine Months Ended September 30, |  | Location of Gain/(Loss) Recognized in Earnings
| 2018 |  | 2017 |  | 2018 |  | 2017 |
| (in millions) |  |
Currency exchange contracts: |  |  |  |  |  |  |  |  |
Intercompany loans and forecasted interest payments | $ | 16 |  |  | $ | (13 | ) |  | $ | 30 |  |  | $ | (8 | ) |  | Interest and other expense, net
Forecasted transactions | 53 |  |  | (1 | ) |  | 118 |  |  | — |  |  | Cost of sales
Forecasted transactions | (1 | ) |  | 1 |  |  | (6 | ) |  | (1 | ) |  | Interest and other expense, net
Forecasted transactions | 2 |  |  | — |  |  | (2 | ) |  | 2 |  |  | Selling, general and administrative expenses
Commodity contracts | (123 | ) |  | (17 | ) |  | (22 | ) |  | (176 | ) |  | Cost of sales
Total | $ | (53 | ) |  | $ | (30 | ) |  | $ | 118 |  |  | $ | (183 | ) |  |
Cash Flow Hedges |
Derivative Instruments and Hedging Activities Disclosures [Line Items] |
Schedule of Cash Flow Hedges Effect on Accumulated Other Comprehensive Earnings/(Losses), Net of Taxes | Cash flow hedge activity, net of taxes, within accumulated other comprehensive earnings/(losses) included:
| For the Three Months Ended September 30, |  | For the Nine Months Ended September 30,
| 2018 |  | 2017 |  | 2018 |  | 2017
| (in millions)
Accumulated (loss)/gain at beginning of period | $ | (133 | ) |  | $ | (91 | ) |  | $ | (113 | ) |  | $ | (121 | )
Transfer of realized (gains)/losses in fair value to earnings | — |  |  | (13 | ) |  | (9 | ) |  | (10 | )
Unrealized gain/(loss) in fair value | 25 |  |  | (6 | ) |  | 14 |  |  | 21 |
Accumulated (loss)/gain at end of period | $ | (108 | ) |  | $ | (110 | ) |  | $ | (108 | ) |  | $ | (110 | )
Schedule of Pre-tax Effects of Derivative Instruments | After-tax gains/(losses) reclassified from accumulated other comprehensive earnings/(losses) into net earnings were:
| For the Three Months Ended September 30, |  | For the Nine Months Ended September 30,
| 2018 |  | 2017 |  | 2018 |  | 2017
| (in millions)
Currency exchange contracts – forecasted transactions | $ | — |  |  | $ | (3 | ) |  | $ | — |  |  | $ | (2 | )
Commodity contracts | $ | — |  |  | $ | 16 |  |  | $ | — |  |  | $ | 12 |
Interest rate contracts | — |  |  | — |  |  | 9 |  |  | — |
Total | $ | — |  |  | $ | 13 |  |  | $ | 9 |  |  | $ | 10 |
After-tax gains/(losses) recognized in other comprehensive earnings/(losses) were:
| For the Three Months Ended September 30, |  | For the Nine Months Ended September 30,
| 2018 |  | 2017 |  | 2018 |  | 2017
| (in millions)
Currency exchange contracts – forecasted transactions | $ | — |  |  | $ | (11 | ) |  | $ | — |  |  | $ | (37 | )
Commodity contracts | — |  |  | 25 |  |  | — |  |  | 31 |
Interest rate contracts | 25 |  |  | (20 | ) |  | 14 |  |  | 27 |
Total | $ | 25 |  |  | $ | (6 | ) |  | $ | 14 |  |  | $ | 21 |
Fair Value Hedges |
Derivative Instruments and Hedging Activities Disclosures [Line Items] |
Schedule of Pre-tax Effects of Derivative Instruments | Pre-tax gains/(losses) due to changes in fair value of our interest rate swaps and related hedged long-term debt were recorded in interest and other expense, net:
| For the Three Months Ended September 30, |  | For the Nine Months Ended September 30,
| 2018 |  | 2017 |  | 2018 |  | 2017
| (in millions)
Borrowings | $ | — |  |  | $ | 2 |  |  | $ | 1 |  |  | $ | 4 |
Derivatives | — |  |  | (2 | ) |  | (1 | ) |  | (4 | )
Total | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Net investment hedge debt |
Derivative Instruments and Hedging Activities Disclosures [Line Items] |
Schedule of Hedges of Net Investments in International Operations | After-tax gains/(losses) related to hedges of net investments in international operations in the form of euro, British pound sterling, Swiss franc and Canadian dollar-denominated debt were recorded within the cumulative translation adjustment section of other comprehensive income and were:
| For the Three Months Ended September 30, |  | For the Nine Months Ended September 30,
| 2018 |  | 2017 |  | 2018 |  | 2017
| (in millions)
Euro notes | $ | 18 |  |  | $ | (83 | ) |  | $ | 94 |  |  | $ | (279 | )
British pound sterling notes | 5 |  |  | (8 | ) |  | 13 |  |  | (23 | )
Swiss franc notes | (10 | ) |  | 12 |  |  | 6 |  |  | (53 | )
Canadian notes | (6 | ) |  | — |  |  | (2 | ) |  | — |
Derivative |
Derivative Instruments and Hedging Activities Disclosures [Line Items] |
Schedule of Fair Value of Derivatives Instruments | Derivative instruments were recorded at fair value in the condensed consolidated balance sheets as follows:
| As of September 30, 2018 |  | As of December 31, 2017
| Asset Derivatives |  | Liability Derivatives |  | Asset Derivatives |  | Liability Derivatives
| (in millions)
Derivatives designated as accounting hedges: |  |  |  |  |  |  |
Interest rate contracts | $ | 59 |  |  | $ | 359 |  |  | $ | 15 |  |  | $ | 509 |
Net investment hedge derivative contracts (1) | 365 |  |  | 3 |  |  | — |  |  | — |
| $ | 424 |  |  | $ | 362 |  |  | $ | 15 |  |  | $ | 509 |
Derivatives not designated as accounting hedges: |  |  |  |  |  |  |
Currency exchange contracts | $ | 133 |  |  | $ | 47 |  |  | $ | 65 |  |  | $ | 76 |
Commodity contracts | 129 |  |  | 170 |  |  | 84 |  |  | 229 |
Interest rate contracts | — |  |  | — |  |  | 15 |  |  | 11 |
| $ | 262 |  |  | $ | 217 |  |  | $ | 164 |  |  | $ | 316 |
Total fair value | $ | 686 |  |  | $ | 579 |  |  | $ | 179 |  |  | $ | 825 |
(1) Net investment hedge contracts consist of cross-currency interest rate swaps and forward contracts. We also designate some of our non-U.S. dollar denominated debt to hedge a portion of our net investments in our non-U.S. operations. This debt is not reflected in the table above, but is included in long-term debt discussed in Note 8, Debt and Borrowing Arrangements. Both net investment hedge derivative contracts and non-U.S. dollar denominated debt acting as net investment hedges are also disclosed in the Derivative Volume table and the Hedges of Net Investments in International Operations section appearing later in this footnote.
Schedule of Derivative Instruments Fair Value and Measurement Inputs | The fair values (asset/(liability)) of our derivative instruments were determined using:
| As of September 30, 2018
| Total Fair Value of Net Asset/(Liability) |  | Quoted Prices in Active Markets for Identical Assets (Level 1) |  | Significant Other Observable Inputs (Level 2) |  | Significant Unobservable Inputs (Level 3)
| (in millions)
Currency exchange contracts | $ | 86 |  |  | $ | — |  |  | $ | 86 |  |  | $ | — |
Commodity contracts | (41 | ) |  | 4 |  |  | (45 | ) |  | — |
Interest rate contracts | (300 | ) |  | — |  |  | (300 | ) |  | — |
Net investment hedge contracts | 362 |  |  | — |  |  | 362 |  |  | — |
Total derivatives | $ | 107 |  |  | $ | 4 |  |  | $ | 103 |  |  | $ | — |
| As of December 31, 2017
| Total Fair Value of Net Asset/(Liability) |  | Quoted Prices in Active Markets for Identical Assets (Level 1) |  | Significant Other Observable Inputs (Level 2) |  | Significant Unobservable Inputs (Level 3)
| (in millions)
Currency exchange contracts | $ | (11 | ) |  | $ | — |  |  | $ | (11 | ) |  | $ | — |
Commodity contracts | (145 | ) |  | (138 | ) |  | (7 | ) |  | — |
Interest rate contracts | (490 | ) |  | — |  |  | (490 | ) |  | — |
Total derivatives | $ | (646 | ) |  | $ | (138 | ) |  | $ | (508 | ) |  | $ | — |
Schedule of Notional Values of Derivative Instruments | The net notional values of our hedging instruments were:
| Notional Amount
| As of September 30, 2018 |  | As of December 31, 2017
| (in millions)
Currency exchange contracts: |  |  |
Intercompany loans and forecasted interest payments | $ | 3,797 |  |  | $ | 7,089 |
Forecasted transactions | 2,677 |  |  | 2,213 |
Commodity contracts | 1,018 |  |  | 1,204 |
Interest rate contracts | 8,205 |  |  | 6,532 |
Net investment hedges: |  |  |
Net investment hedge derivative contracts | 7,079 |  |  | — |
Non-U.S. dollar debt designated as net investment hedges |  |  |
Euro notes | 3,556 |  |  | 3,679 |
British pound sterling notes | 343 |  |  | 459 |
Swiss franc notes | 1,426 |  |  | 1,694 |
Canadian dollar notes | 465 |  |  | — |
Borrowings |
Derivative Instruments and Hedging Activities Disclosures [Line Items] |
Schedule of Notional Values of Derivative Instruments | The carrying amount of our hedged fixed interest rate debt at December 31, 2017 was $801 million and was recorded in the current portion of long-term debt until this debt matured during the third quarter of 2018.
| As of September 30, 2018 |  | As of December 31, 2017
| (in millions)
Notional value of borrowings (and related derivatives) | $ | — |  |  | $ | (801 | )
Cumulative fair value hedging adjustments | — |  |  | — |
Carrying amount of borrowings | $ | — |  |  | $ | (801 | )

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