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Derivative Instruments and Hedging Activities (Tables)
 3 Months Ended
Mar. 31, 2022
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of Derivatives Instruments Statements of Financial Performance and Financial Position, Location [Table Text Block]
The following table sets forth the fair value of derivatives not designated as hedging instruments as of March 31, 2022 and December 31, 2021.

 March 31, 2022December 31, 2021
 AssetsLiabilitiesAssetsLiabilities
 (In millions)
Foreign Currency Contracts$437 $190 $217 $116 
Interest Rate Contracts2 1 — — 
Commodity Contracts2,280 3,400 1,276 1,759 
Debt Conversion Option— 30 — 15 
Total$2,719 $3,621 $1,493 $1,890 

The following tables set 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 three months ended March 31, 2022 and 2021.
Other expense (income) - net
 Cost ofInterest
(In millions)Revenuesproducts soldexpense
Three Months Ended March 31, 2022
Consolidated Statement of Earnings$23,650 $21,753 $(33)$92 
Pre-tax gains (losses) on:
Foreign Currency Contracts$(38)$443 $23 $— 
Commodity Contracts— (1,101)— — 
Debt Conversion Option— — — (15)
Total gain (loss) recognized in earnings$(38)$(658)$23 $(15)$(688)
Three Months Ended March 31, 2021
Consolidated Statement of Earnings$18,893 $17,345 $(33)$87 
Pre-tax gains (losses) on:
Foreign Currency Contracts$30 $(262)$120 $— 
Commodity Contracts— (782)— — 
Debt Conversion Option— — — (20)
Total gain (loss) recognized in earnings$30 $(1,044)$120 $(20)$(914)
The following table sets forth the fair value of derivatives designated as hedging instruments as of March 31, 2022 and December 31, 2021.

 March 31, 2022December 31, 2021
 AssetsLiabilitiesAssetsLiabilities
 (In millions)
Commodity Contracts$126 $— $86 $— 
Foreign Currency Contracts24 48 21 $75 
Interest Rate Contracts65 — 46 — 
Total$215 $48 $153 $75 
The following table sets forth the pre-tax gains (losses) on derivatives designated as hedging instruments that have been included in the consolidated statements of earnings for the three months ended March 31, 2022 and 2021.

Cost of products sold
(In millions)Revenues
Three Months Ended March 31, 2022
Consolidated Statement of Earnings$23,650 $21,753 
Effective amounts recognized in earnings 
Pre-tax gains (losses) on:
Commodity Contracts$— $98 
Total gain (loss) recognized in earnings$— $98 $98 
Three Months Ended March 31, 2021
Consolidated Statement of Earnings$18,893 $17,345 
Effective amounts recognized in earnings
Pre-tax gains (losses) on:
Commodity Contracts$— $89 
Interest Contracts(14)— 
Total gain (loss) recognized in earnings$(14)$89 $75