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Derivative Instruments and Hedging Activities (Tables) | 12 Months Ended
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Dec. 31, 2018
Derivative Instruments and Hedging Activities Disclosure [Abstract] |
Schedule of Other Derivatives Not Designated as Hedging Instruments | The following table sets forth the pre-tax gains (losses) on derivatives not designated as hedging instruments that have been included in the consolidated statements of earnings for the years ended December 31, 2018, 2017, and 2016.
|  |  | Cost of |  | Other expense (income) - net |  |
|  |  | products |  |  |
(In millions) | Revenues |  | sold |  |  |
For the Year Ended December 31, 2018 |  |  |  |  |  |  |
Consolidated Statement of Earnings | $ | 64,341 |  |  | $ | 60,160 |  |  | $ | 101 |  |  |
Pre-tax gains (losses) on: |  |  |  |  |  |  |
Foreign Currency Contracts | $ | 5 |  |  | $ | (139 | ) |  | $ | (177 | ) |  |
Commodity Contracts | — |  |  | 258 |  |  | — |  |  |
Total gain (loss) recognized in earnings | $ | 5 |  |  | $ | 119 |  |  | $ | (177 | ) |  | $ | (53 | )
For the Year Ended December 31, 2017 |  |  |  |  |  |  |
Consolidated Statement of Earnings | $ | 60,828 |  |  | $ | 57,310 |  |  | $ | (10 | ) |  |
Pre-tax gains (losses) on: |  |  |  |  |  |  |
Foreign Currency Contracts | $ | (10 | ) |  | $ | 58 |  |  | $ | 214 |  |  |
Commodity Contracts | — |  |  | 375 |  |  | — |  |  |
Total gain (loss) recognized in earnings | $ | (10 | ) |  | $ | 433 |  |  | $ | 214 |  |  | $ | 637 |
For the Year Ended December 31, 2016 |  |  |  |  |  |  |
Consolidated Statement of Earnings | $ | 62,346 |  |  | $ | 58,728 |  |  | $ | (149 | ) |  |
Pre-tax gains (losses) on: |  |  |  |  |  |  |
Foreign Currency Contracts | $ | (35 | ) |  | $ | 291 |  |  | $ | (225 | ) |  |
Commodity Contracts | — |  |  | (383 | ) |  | — |  |  |
Total gain (loss) recognized in earnings | $ | (35 | ) |  | $ | (92 | ) |  | $ | (225 | ) |  | $ | (352 | )
The following table sets forth the fair value of derivatives not designated as hedging instruments as of December 31, 2018 and 2017.
| December 31, 2018 |  | December 31, 2017
| Assets |  | Liabilities |  | Assets |  | Liabilities
| (In millions)
Foreign Currency Contracts | $ | 175 |  |  | $ | 152 |  |  | $ | 63 |  |  | $ | 92 |
Commodity Contracts | 461 |  |  | 589 |  |  | 386 |  |  | 371 |
Total | $ | 636 |  |  | $ | 741 |  |  | $ | 449 |  |  | $ | 463 |
Schedule Of Derivatives Designated As Hedging Instruments | The following table sets forth the fair value of derivatives designated as hedging instruments as of December 31, 2018 and 2017.
| December 31, 2018 |  | December 31, 2017
| Assets |  | Liabilities |  | Assets |  | Liabilities
| (In millions)
Interest Rate Contracts | $ | — |  |  | $ | 20 |  |  | $ | — |  |  | $ | 1 |
Total | $ | — |  |  | $ | 20 |  |  | $ | — |  |  | $ | 1 |
The following table sets forth the pre-tax gains (losses) on derivatives designated as hedging instruments that have been included in the consolidated statement of earnings for the years ended December 31, 2018, 2017, and 2016.
|  |  | Cost of products sold |  | Interest expense |  | Other expense (income) - net |  |
(In millions) | Revenues |  |  |  |  |
For the Year Ended December 31, 2018 |  |  |  |  |  |  |  |  |
Consolidated Statement of Earnings | $ | 64,341 |  |  | $ | 60,160 |  |  | $ | 364 |  |  | $ | 101 |  |  |
Effective amounts recognized in earnings |  |  |  |  |  |  |  |  |
Pre-tax gains (losses) on: |  |  |  |  |  |  |  |  |
Interest Contracts | — |  |  | — |  |  | 1 |  |  | — |  |  |
Commodity Contracts | 36 |  |  | (113 | ) |  | — |  |  | — |  |  |
Total gain (loss) recognized in earnings | $ | 36 |  |  | $ | (113 | ) |  | $ | 1 |  |  | $ | — |  |  | $ | (76 | )
For the Year Ended December 31, 2017 |  |  |  |  |  |  |  |  |
Consolidated Statement of Earnings | $ | 60,828 |  |  | $ | 57,310 |  |  | 330 |  |  | $ | (10 | ) |  |
Effective amounts recognized in earnings |  |  |  |  |  |  |  |  |
Pre-tax gains (losses) on: |  |  |  |  |  |  |  |  |
Foreign Currency Contracts | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | (2 | ) |  |
Interest Rate Contracts | — |  |  | — |  |  | 1 |  |  | — |  |  |
Commodity Contracts | (1 | ) |  | (45 | ) |  | — |  |  | — |  |  |
Total gain (loss) recognized in earnings | $ | (1 | ) |  | $ | (45 | ) |  | $ | 1 |  |  | $ | (2 | ) |  | $ | (47 | )
For the Year Ended December 31, 2016 |  |  |  |  |  |  |  |  |
Consolidated Statement of Earnings | $ | 62,346 |  |  | $ | 58,728 |  |  | $ | 293 |  |  | $ | (149 | ) |  |
Effective amounts recognized in earnings |  |  |  |  |  |  |  |  |
Pre-tax gains (losses) on: |  |  |  |  |  |  |  |  |
Foreign Currency Contracts | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | (18 | ) |  |
Interest Rate Contracts | — |  |  | — |  |  | (2 | ) |  | — |  |  |
Commodity Contracts | (35 | ) |  | (82 | ) |  | — |  |  | — |  |  |
Ineffective amounts recognized in earnings |  |  |  |  |  |  |  |  |
Pre-tax gains (losses) on: |  |  |  |  |  |  |  |  |
Commodity Contracts | (5 | ) |  | 6 |  |  | — |  |  | — |  |  |
Total gain (loss) recognized in earnings | $ | (40 | ) |  | $ | (76 | ) |  | $ | (2 | ) |  | $ | (18 | ) |  | $ | (136 | )

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- Definition Tabular disclosure of derivative instruments (including nonderivative instruments that are designated and qualify as hedging instruments) of (a) the location and amount of gains and losses reported in the statement of financial performance and (b) the location and fair value amounts of the instruments reported in the statement of financial position. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4A -URI http://asc.fasb.org/extlink&oid=109980867&loc=SL5618551-113959 + Details
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