Derivative Financial Instruments (Tables)
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6 Months Ended |
Jul. 01, 2017 |
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| Derivative [Line Items] |
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| Schedule of Notional Amounts of Outstanding Derivative Positions [Table Text Block] |
Total gross notional amounts for outstanding derivatives (recorded at fair value) at the end of each period were as follows:
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(In Millions) |
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Jul 1,
2017 |
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Dec 31,
2016 |
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Jul 2,
2016 |
Foreign currency contracts |
|
$ |
20,861 |
|
|
$ |
17,960 |
|
|
$ |
18,682 |
|
Interest rate contracts |
|
16,781 |
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|
14,228 |
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|
10,039 |
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Other |
|
1,396 |
|
|
1,340 |
|
|
1,307 |
|
Total |
|
$ |
39,038 |
|
|
$ |
33,528 |
|
|
$ |
30,028 |
|
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| Schedule of Derivative Instruments in Statement of Financial Position, Fair Value [Table Text Block] |
Fair Value of Derivative Instruments in the Consolidated Condensed Balance Sheets
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July 1, 2017 |
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December 31, 2016 |
(In Millions) |
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Assets 1
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Liabilities 2
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Assets 1
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Liabilities 2
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Derivatives designated as hedging instruments: |
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Foreign currency contracts 3
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$ |
283 |
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$ |
23 |
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$ |
21 |
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$ |
252 |
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Interest rate contracts |
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12 |
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|
114 |
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|
3 |
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|
187 |
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Total derivatives designated as hedging instruments |
|
295 |
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|
137 |
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|
24 |
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|
439 |
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Derivatives not designated as hedging instruments: |
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Foreign currency contracts 3
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|
83 |
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|
421 |
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|
374 |
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|
114 |
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Interest rate contracts |
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12 |
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23 |
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15 |
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|
30 |
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Other |
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9 |
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— |
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9 |
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— |
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Total derivatives not designated as hedging instruments |
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104 |
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|
444 |
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|
398 |
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|
144 |
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Total derivatives |
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$ |
399 |
|
|
$ |
581 |
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$ |
422 |
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$ |
583 |
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| Offsetting Assets And Liabilities [Table Text Block] |
The gross amounts of our derivative instruments and reverse repurchase agreements subject to master netting arrangements with various counterparties, and cash and non-cash collateral posted under such agreements at the end of each period were as follows:
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July 1, 2017 |
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Gross Amounts Not Offset in the Balance Sheet |
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(In Millions) |
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Gross Amounts Recognized |
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Gross Amounts Offset in the Balance Sheet |
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Net Amounts Presented in the Balance Sheet |
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Financial Instruments |
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Cash and Non-Cash Collateral Received or Pledged |
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Net Amount |
Assets: |
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Derivative assets subject to master netting arrangements |
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$ |
386 |
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$ |
— |
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$ |
386 |
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|
$ |
(232 |
) |
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$ |
(135 |
) |
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$ |
19 |
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Reverse repurchase agreements |
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2,585 |
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— |
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2,585 |
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— |
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(2,585 |
) |
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— |
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Total assets |
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2,971 |
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— |
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2,971 |
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(232 |
) |
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(2,720 |
) |
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19 |
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Liabilities: |
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Derivative liabilities subject to master netting arrangements |
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563 |
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— |
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563 |
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(232 |
) |
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(303 |
) |
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28 |
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Total liabilities |
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$ |
563 |
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$ |
— |
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$ |
563 |
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$ |
(232 |
) |
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$ |
(303 |
) |
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$ |
28 |
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December 31, 2016 |
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Gross Amounts Not Offset in the Balance Sheet |
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(In Millions) |
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Gross Amounts Recognized |
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Gross Amounts Offset in the Balance Sheet |
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Net Amounts Presented in the Balance Sheet |
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Financial Instruments |
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Cash and Non-Cash Collateral Received or Pledged |
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Net Amount |
Assets: |
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Derivative assets subject to master netting arrangements |
|
$ |
433 |
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|
$ |
— |
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$ |
433 |
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|
$ |
(368 |
) |
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$ |
(42 |
) |
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$ |
23 |
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Reverse repurchase agreements |
|
1,018 |
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— |
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1,018 |
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— |
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(1,018 |
) |
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— |
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Total assets |
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1,451 |
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— |
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1,451 |
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(368 |
) |
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(1,060 |
) |
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23 |
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Liabilities: |
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Derivative liabilities subject to master netting arrangements |
|
588 |
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— |
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|
588 |
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(368 |
) |
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(201 |
) |
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19 |
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Total liabilities |
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$ |
588 |
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$ |
— |
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$ |
588 |
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$ |
(368 |
) |
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$ |
(201 |
) |
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$ |
19 |
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| Not Designated as Hedging Instrument [Member] |
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| Derivative [Line Items] |
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| Schedule of Derivative Instruments, Gain (Loss) in Statement of Financial Performance [Table Text Block] |
The effects of derivative instruments not designated as hedging instruments on the consolidated condensed statements of income for each period were as follows:
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Three Months Ended |
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Six Months Ended |
(In Millions) |
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Location of Gains (Losses)
Recognized in Income on Derivatives
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|
Jul 1,
2017 |
|
Jul 2,
2016 |
|
Jul 1,
2017 |
|
Jul 2,
2016 |
Foreign currency contracts |
|
Interest and other, net |
|
$ |
(271 |
) |
|
$ |
64 |
|
|
$ |
(430 |
) |
|
$ |
(174 |
) |
Interest rate contracts |
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Interest and other, net |
|
1 |
|
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(8 |
) |
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(1 |
) |
|
(15 |
) |
Other |
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Various |
|
38 |
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|
6 |
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|
95 |
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|
18 |
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Total |
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|
$ |
(232 |
) |
|
$ |
62 |
|
|
$ |
(336 |
) |
|
$ |
(171 |
) |
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| Interest and other, net [Member] | Fair Value Hedging [Member] |
|
| Derivative [Line Items] |
|
| Schedule of Derivative Instruments, Gain (Loss) in Statement of Financial Performance [Table Text Block] |
The effects of derivative instruments designated as fair value hedges, recognized in interest and other, net for each period were as follows:
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Three Months Ended |
|
Six Months Ended |
(In Millions) |
|
Jul 1,
2017 |
|
Jul 2,
2016 |
|
Jul 1,
2017 |
|
Jul 2,
2016 |
Interest rate contracts |
|
$ |
96 |
|
|
$ |
60 |
|
|
$ |
82 |
|
|
$ |
222 |
|
Hedged items |
|
(96 |
) |
|
(60 |
) |
|
(82 |
) |
|
(222 |
) |
Total |
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$ |
— |
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$ |
— |
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$ |
— |
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$ |
— |
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