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Financial Instruments (Tables)
 12 Months Ended
Dec. 31, 2018
Derivative Instruments and Hedging Activities Disclosures [Line Items]  
Schedule of Effects of Derivative Instruments Pre-tax gains/(losses) recorded in net earnings for economic hedges were:

 
For the Years Ended December 31,
 
Recognized
in Earnings
 
2018
 
2017
 
2016
 
 
(in millions)
 
 
Currency exchange contracts:
 
 
 
 
 
 
 
   Intercompany loans and
      forecasted interest payments
$
98

 
$
13

 
$
21

 
Interest and other
expense, net
   Forecasted transactions
103

 
(37
)
 
(76
)
 
Cost of sales
   Forecasted transactions
(4
)
 
(2
)
 
11

 
Interest and other
expense, net
   Forecasted transactions
(3
)
 
3

 
7

 
Selling, general
and administrative
expenses
Commodity contracts
40

 
(218
)
 
(101
)
 
Cost of sales
Total
$
234

 
$
(241
)
 
$
(138
)
 
 
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 Years Ended December 31,
 
2018
 
2017
 
2016
 
(in millions)
Accumulated (loss)/gain at beginning of period
$
(113
)
 
$
(121
)
 
$
(45
)
Transfer of realized (gains)/losses in fair value to earnings
(9
)
 
27

 
53

Unrealized gain/(loss) in fair value
(45
)
 
(19
)
 
(129
)
Accumulated (loss)/gain at end of period
$
(167
)
 
$
(113
)
 
$
(121
)
Schedule of Effects of Derivative Instruments After-tax gains/(losses) reclassified from accumulated other comprehensive earnings/(losses) into net earnings were:
 
 
For the Years Ended December 31,
 
2018
 
2017
 
2016
 
(in millions)
Currency exchange contracts – forecasted transactions
$
—

 
$
(3
)
 
$
(1
)
Commodity contracts
—

 
(24
)
 
(4
)
Interest rate contracts
9

 
—

 
(48
)
Total
$
9

 
$
(27
)
 
$
(53
)

After-tax gains/(losses) recognized in other comprehensive earnings/(losses) were:
 
 
For the Years Ended December 31,
 
2018
 
2017
 
2016
 
(in millions)
Currency exchange contracts – forecasted transactions
$
—

 
$
(38
)
 
$
8

Commodity contracts
—

 
7

 
(34
)
Interest rate contracts
(45
)
 
12

 
(103
)
Total
$
(45
)
 
$
(19
)
 
$
(129
)
Fair Value Hedges  
Derivative Instruments and Hedging Activities Disclosures [Line Items]  
Schedule of 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 Years Ended December 31,
 
2018
 
2017
 
2016
 
(in millions)
Borrowings
$
1

 
$
4

 
$
6

Derivatives
(1
)
 
(4
)
 
(6
)
Total
$
—

 
$
—

 
$
—
Net Investment Hedging  
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 Years Ended December 31,
 
2018
 
2017
 
2016
 
(in millions)
Euro notes
$
126

 
$
(323
)
 
$
73

British pound sterling notes
19

 
(26
)
 
148

Swiss franc notes
7

 
(49
)
 
12

Canadian notes
17

 
—

 
—
Derivatives  
Derivative Instruments and Hedging Activities Disclosures [Line Items]  
Schedule of Fair Value of Derivative Instruments Derivative instruments were recorded at fair value in the consolidated balance sheets as follows:
 
 
As of December 31,
 
2018
 
2017
 
Asset
Derivatives
 
Liability
Derivatives
 
Asset
Derivatives
 
Liability
Derivatives
 
(in millions)
Derivatives designated as
accounting hedges:
 
 
 
 
 
 
 
Interest rate contracts
$
17

 
$
355

 
$
15

 
$
509

Net investment hedge derivative contracts (1)
337

 
28

 
—

 
—

 
$
354

 
$
383

 
$
15

 
$
509

Derivatives not designated as
   accounting hedges:
 
 
 
 
 
 
 
Currency exchange contracts
$
72

 
$
37

 
$
65

 
$
76

Commodity contracts
191

 
210

 
84

 
229

Interest rate contracts
—

 
—

 
15

 
11

 
$
263

 
$
247

 
$
164

 
$
316

Total fair value
$
617

 
$
630

 
$
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 December 31, 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
$
35

 
$
—

 
$
35

 
$
—

Commodity contracts
(19
)
 
(1
)
 
(18
)
 
—

Interest rate contracts
(338
)
 
—

 
(338
)
 
—

Net investment hedge contracts
309

 
—

 
309

 
—

Total derivatives
$
(13
)
 
$
(1
)
 
$
(12
)
 
$
—


 
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 derivative instruments were:
 
 
Notional Amount
 
As of December 31,
 
2018
 
2017
 
(in millions)
Currency exchange contracts:
 
 
 
Intercompany loans and forecasted interest payments
$
3,239

 
$
7,089

Forecasted transactions
2,396

 
2,213

Commodity contracts
393

 
1,204

Interest rate contracts
8,679

 
6,532

Net investment hedges:
 
 
 
Net investment hedge derivative contracts
6,678

 
—

Non-U.S. dollar debt designated as net investment hedges
 
 
 
Euro notes
3,514

 
3,679

British pound sterling notes
336

 
459

Swiss franc notes
1,424

 
1,694

Canadian dollar notes
440

 
—
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 December 31,
 
2018
 
2017
 
(in millions)
Notional value of borrowings (and related derivatives)
$
—

 
$
(801
)
Cumulative fair value hedging adjustments
—

 
—

Carrying amount of borrowings
$
—

 
$
(801
)