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Derivative Financial Instruments and Hedging Activities (Tables)
 6 Months Ended
Jun. 30, 2017
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Income Effect of Derivative Instruments [Table Text Block]
The gains/(losses), by hedge designation, recorded in income for the periods ended June 30 were as follows (in millions):
 
Second Quarter
 
First Half
 
2016
 
2017
 
2016
 
2017
Cash flow hedges (a)
 
 
 
 
 
 
 
Reclassified from AOCI to net income
$
46

 
$
124

 
$
133

 
$
242

Fair value hedges
 
 
 
 
 
 
 
Interest rate contracts
 
 
 
 
 
 
 
Net interest settlements and accruals excluded from the assessment of hedge effectiveness
98

 
62

 
197

 
132

Ineffectiveness (b)
5

 
4

 
22

 
—

Derivatives not designated as hedging instruments
 
 
 
 
 
 
 
Foreign currency exchange contracts
171

 
(218
)
 
32

 
(426
)
Cross-currency interest rate swap contracts
140

 
16

 
335

 
74

Interest rate contracts
(43
)
 
30

 
(91
)
 
37

Commodity contracts
9

 
(10
)
 
4

 
32

Total
$
426

 
$
8

 
$
632

 
$
91

__________
(a)
For the second quarter and first half of 2016, a $184 million gain and a $547 million gain, respectively, were recorded in Other comprehensive income. For the second quarter and first half of 2017, a $318 million gain and a $206 million gain, respectively, were recorded in Other comprehensive income.
(b)
For the second quarter and first half of 2016, hedge ineffectiveness reflects the net change in fair value on derivatives of $273 million gain and $883 million gain, respectively, and a change in value on hedged debt attributable to the change in benchmark interest rates of $268 million loss and $861 million loss, respectively. For the second quarter and first half of 2017, hedge ineffectiveness reflects the net change in fair value on derivatives of $34 million gain and $55 million loss, respectively, and a change in value on hedged debt attributable to the change in benchmark interest rates of $30 million loss and $55 million gain, respectively.
Balance Sheet Effect of Derivative Instruments [Table Text Block]
The fair value of our derivative instruments and the associated notional amounts, presented gross, were as follows (in millions):
 
December 31, 2016
 
June 30, 2017
 
Notional
 
Fair Value of
Assets
 
Fair Value of
Liabilities
 
Notional
 
Fair Value of
Assets
 
Fair Value of
Liabilities
Cash flow hedges
 
 
 
 
 
 
 
 
 
 
 
Foreign currency exchange contracts
$
19,091

 
$
620

 
$
257

 
$
17,926

 
$
504

 
$
179

Fair value hedges
 

 
 

 
 

 
 
 
 
 
 
Interest rate contracts
33,175

 
487

 
80

 
34,958

 
429

 
83

Derivatives not designated as hedging instruments
 
 
 
 
 
 
 
 
 
 
Foreign currency exchange contracts
17,227

 
379

 
194

 
21,221

 
208

 
346

Cross-currency interest rate swap contracts
3,201

 
242

 
8

 
3,918

 
338

 
6

Interest rate contracts
61,689

 
156

 
74

 
53,968

 
180

 
55

Commodity contracts
531

 
11

 
6

 
550

 
14

 
5

Total derivative financial instruments, gross (a) (b)
$
134,914

 
$
1,895

 
$
619

 
$
132,541

 
$
1,673

 
$
674

 
 
 
 
 
 
 
 
 
 
 
 
Current portion
 
 
$
1,108

 
$
371

 
 
 
$
870

 
$
473

Non-current portion
 
 
787

 
248

 
 
 
803

 
201

Total derivative financial instruments, gross
 
 
$
1,895

 
$
619

 
 
 
$
1,673

 
$
674


__________
(a)
At December 31, 2016 and June 30, 2017, we held collateral of $15 million and $10 million, and we posted collateral of $12 million and $16 million, respectively.
(b)
At December 31, 2016 and June 30, 2017, the fair value of assets and liabilities available for counterparty netting was $554 million and $477 million, respectively. All derivatives are categorized within Level 2 of the fair value hierarchy.