Quarterly report pursuant to Section 13 or 15(d)

Hedging Transactions and Derivative Financial Instruments (Details)

v3.20.2
Hedging Transactions and Derivative Financial Instruments (Details) - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended
Sep. 25, 2020
Sep. 27, 2019
Sep. 25, 2020
Sep. 27, 2019
Dec. 31, 2019
Fair Value, Derivatives Designated and Not Designated as Hedges          
Maximum Length of Time Hedged in Cash Flow Hedge     4 years    
Net Investment Hedging [Member]          
Fair Value, Derivatives Designated and Not Designated as Hedges          
Derivative, Notional Amount $ 12,699   $ 12,699   $ 12,334
Other Comprehensive Income (Loss), Unrealized Gain (Loss) on Derivatives Arising During Period, before Tax (468) $ 489 (456) $ 486  
Cash Flow Hedging [Member]          
Fair Value, Derivatives Designated and Not Designated as Hedges          
Gain (Loss) Reclassified from AOCI into Income (Effective Portion) 60 (62) 10 (165)  
Other Comprehensive Income (Loss), Unrealized Gain (Loss) on Derivatives Arising During Period, before Tax 41 (1) (15) (100)  
Fair Value Hedging [Member]          
Fair Value, Derivatives Designated and Not Designated as Hedges          
Derivative, Gain (Loss) on Derivative, Net (3) 6 3 10  
Long-term Debt, Current Maturities [Domain] | Fair Value Hedging [Member]          
Fair Value, Derivatives Designated and Not Designated as Hedges          
Derivative, Amount of Hedged Item 2,038   2,038   1,004
Hedged Liability, Fair Value Hedge, Cumulative Increase (Decrease) (2)   (2)   5
Long-term Debt [Member] | Fair Value Hedging [Member]          
Fair Value, Derivatives Designated and Not Designated as Hedges          
Derivative, Amount of Hedged Item 10,685   10,685   12,087
Hedged Liability, Fair Value Hedge, Cumulative Increase (Decrease) 670   670   448
Cash and Cash Equivalents [Member] | Fair Value Hedging [Member]          
Fair Value, Derivatives Designated and Not Designated as Hedges          
Derivative, Amount of Hedged Item 294   294   0
Hedged Liability, Fair Value Hedge, Cumulative Increase (Decrease) 0   0   0
Marketable Securities [Member] | Fair Value Hedging [Member]          
Fair Value, Derivatives Designated and Not Designated as Hedges          
Derivative, Amount of Hedged Item 201   201   0
Hedged Liability, Fair Value Hedge, Cumulative Increase (Decrease) 0   0   0
Foreign currency denominated debt | Net Investment Hedging [Member]          
Fair Value, Derivatives Designated and Not Designated as Hedges          
Derivative, Notional Amount 12,699   12,699   12,334
Other Comprehensive Income (Loss), Unrealized Gain (Loss) on Derivatives Arising During Period, before Tax (445) 476 (452) 444  
Foreign currency denominated debt | Fair Value Hedging [Member]          
Fair Value, Derivatives Designated and Not Designated as Hedges          
Derivative, Notional Amount 499   499    
Foreign currency contracts | Net Investment Hedging [Member]          
Fair Value, Derivatives Designated and Not Designated as Hedges          
Derivative, Notional Amount 0   0   0
Other Comprehensive Income (Loss), Unrealized Gain (Loss) on Derivatives Arising During Period, before Tax (23) 13 (4) 42  
Foreign currency contracts | Cash Flow Hedging [Member]          
Fair Value, Derivatives Designated and Not Designated as Hedges          
Derivative, Notional Amount 8,809   8,809   6,957
Commodity contracts | Cash Flow Hedging [Member]          
Fair Value, Derivatives Designated and Not Designated as Hedges          
Derivative, Notional Amount 11   11   2
Cross Currency Swap | Cash Flow Hedging [Member]          
Fair Value, Derivatives Designated and Not Designated as Hedges          
Derivative, Notional Amount 2,700   2,700   3,028
Interest Rate Swap [Member] | Fair Value Hedging [Member]          
Fair Value, Derivatives Designated and Not Designated as Hedges          
Derivative, Notional Amount 12,212   12,212   12,523
Designated as Hedging Instrument [Member]          
Fair Value, Derivatives Designated and Not Designated as Hedges          
Derivative instruments, assets, fair value 777   777   552
Derivative instruments, liabilities, fair value 57   57   109
Designated as Hedging Instrument [Member] | Foreign currency contracts | Prepaid expenses and other assets          
Fair Value, Derivatives Designated and Not Designated as Hedges          
Derivative instruments, assets, fair value 17   17   24
Designated as Hedging Instrument [Member] | Foreign currency contracts | Other Assets          
Fair Value, Derivatives Designated and Not Designated as Hedges          
Derivative instruments, assets, fair value 73   73   91
Designated as Hedging Instrument [Member] | Foreign currency contracts | Accounts payable and accrued expenses          
Fair Value, Derivatives Designated and Not Designated as Hedges          
Derivative instruments, liabilities, fair value 46   46   40
Designated as Hedging Instrument [Member] | Foreign currency contracts | Other Liabilities          
Fair Value, Derivatives Designated and Not Designated as Hedges          
Derivative instruments, liabilities, fair value 10   10   48
Designated as Hedging Instrument [Member] | Commodity contracts | Accounts payable and accrued expenses          
Fair Value, Derivatives Designated and Not Designated as Hedges          
Derivative instruments, liabilities, fair value 1   1   0
Designated as Hedging Instrument [Member] | Interest Rate Contract [Member] | Other Assets          
Fair Value, Derivatives Designated and Not Designated as Hedges          
Derivative instruments, assets, fair value 683   683   427
Designated as Hedging Instrument [Member] | Interest Rate Contract [Member] | Other Liabilities          
Fair Value, Derivatives Designated and Not Designated as Hedges          
Derivative instruments, liabilities, fair value 0   0   21
Designated as Hedging Instrument [Member] | Interest Rate Swap [Member] | Prepaid expenses and other assets          
Fair Value, Derivatives Designated and Not Designated as Hedges          
Derivative instruments, assets, fair value 4   4   10
Not Designated as Hedging Instrument [Member]          
Fair Value, Derivatives Designated and Not Designated as Hedges          
Derivative, Gain (Loss) on Derivative, Net 94 (55) (57) (27)  
Derivative instruments, assets, fair value 68   68   36
Derivative instruments, liabilities, fair value 93   93   53
Not Designated as Hedging Instrument [Member] | Foreign currency contracts          
Fair Value, Derivatives Designated and Not Designated as Hedges          
Derivative, Notional Amount 6,069   6,069   4,291
Not Designated as Hedging Instrument [Member] | Foreign currency contracts | Prepaid expenses and other assets          
Fair Value, Derivatives Designated and Not Designated as Hedges          
Derivative instruments, assets, fair value 34   34   13
Not Designated as Hedging Instrument [Member] | Foreign currency contracts | Accounts payable and accrued expenses          
Fair Value, Derivatives Designated and Not Designated as Hedges          
Derivative instruments, liabilities, fair value 41   41   39
Not Designated as Hedging Instrument [Member] | Commodity contracts          
Fair Value, Derivatives Designated and Not Designated as Hedges          
Derivative, Notional Amount 511   511   425
Not Designated as Hedging Instrument [Member] | Commodity contracts | Prepaid expenses and other assets          
Fair Value, Derivatives Designated and Not Designated as Hedges          
Derivative instruments, assets, fair value 19   19   8
Not Designated as Hedging Instrument [Member] | Commodity contracts | Other Assets          
Fair Value, Derivatives Designated and Not Designated as Hedges          
Derivative instruments, assets, fair value 4   4   2
Not Designated as Hedging Instrument [Member] | Commodity contracts | Accounts payable and accrued expenses          
Fair Value, Derivatives Designated and Not Designated as Hedges          
Derivative instruments, liabilities, fair value 36   36   13
Not Designated as Hedging Instrument [Member] | Commodity contracts | Other Liabilities          
Fair Value, Derivatives Designated and Not Designated as Hedges          
Derivative instruments, liabilities, fair value 11   11   1
Not Designated as Hedging Instrument [Member] | Other derivative instruments | Prepaid expenses and other assets          
Fair Value, Derivatives Designated and Not Designated as Hedges          
Derivative instruments, assets, fair value 8   8   12
Not Designated as Hedging Instrument [Member] | Other derivative instruments | Other Assets          
Fair Value, Derivatives Designated and Not Designated as Hedges          
Derivative instruments, assets, fair value 3   3   1
Not Designated as Hedging Instrument [Member] | Other derivative instruments | Accounts payable and accrued expenses          
Fair Value, Derivatives Designated and Not Designated as Hedges          
Derivative instruments, liabilities, fair value 5   5   $ 0
Net operating revenues | Foreign currency contracts | Cash Flow Hedging [Member]          
Fair Value, Derivatives Designated and Not Designated as Hedges          
Gain (Loss) Reclassified from AOCI into Income (Effective Portion) (21) (5) (22) 2  
Other Comprehensive Income (Loss), Unrealized Gain (Loss) on Derivatives Arising During Period, before Tax (84) 71 (61) 44  
Net operating revenues | Not Designated as Hedging Instrument [Member] | Foreign currency contracts          
Fair Value, Derivatives Designated and Not Designated as Hedges          
Derivative, Gain (Loss) on Derivative, Net 2 15 64 2  
Other Income (loss) - net | Fair Value Hedging [Member]          
Fair Value, Derivatives Designated and Not Designated as Hedges          
Derivative, Gain (Loss) on Derivative, Net 0 0 0 0  
Other Income (loss) - net | Foreign currency contracts | Cash Flow Hedging [Member]          
Fair Value, Derivatives Designated and Not Designated as Hedges          
Gain (Loss) Reclassified from AOCI into Income (Effective Portion) 100 (46) 71 (139)  
Other Comprehensive Income (Loss), Unrealized Gain (Loss) on Derivatives Arising During Period, before Tax 122 (46) 21 (99)  
Other Income (loss) - net | Foreign currency contracts | Fair Value Hedging [Member]          
Fair Value, Derivatives Designated and Not Designated as Hedges          
Derivative, Gain (Loss) on Derivative, Net 3 0 3 0  
Other Income (loss) - net | Not Designated as Hedging Instrument [Member]          
Fair Value, Derivatives Designated and Not Designated as Hedges          
Derivative, Gain (Loss) on Derivative, Net     55    
Other Income (loss) - net | Not Designated as Hedging Instrument [Member] | Foreign currency contracts          
Fair Value, Derivatives Designated and Not Designated as Hedges          
Derivative, Gain (Loss) on Derivative, Net 53 (21) (33) (46)  
Other Income (loss) - net | Not Designated as Hedging Instrument [Member] | Other derivative instruments          
Fair Value, Derivatives Designated and Not Designated as Hedges          
Derivative, Gain (Loss) on Derivative, Net 0 5   39  
Cost of goods sold | Foreign currency contracts | Cash Flow Hedging [Member]          
Fair Value, Derivatives Designated and Not Designated as Hedges          
Gain (Loss) Reclassified from AOCI into Income (Effective Portion) 2 2 7 9  
Other Comprehensive Income (Loss), Unrealized Gain (Loss) on Derivatives Arising During Period, before Tax (4) 3 6 1  
Cost of goods sold | Commodity contracts | Cash Flow Hedging [Member]          
Fair Value, Derivatives Designated and Not Designated as Hedges          
Gain (Loss) Reclassified from AOCI into Income (Effective Portion) (1) 0 (1)    
Other Comprehensive Income (Loss), Unrealized Gain (Loss) on Derivatives Arising During Period, before Tax (2) 1 (2)    
Cost of goods sold | Interest Rate Contract [Member] | Cash Flow Hedging [Member]          
Fair Value, Derivatives Designated and Not Designated as Hedges          
Gain (Loss) Reclassified from AOCI into Income (Effective Portion)       0  
Other Comprehensive Income (Loss), Unrealized Gain (Loss) on Derivatives Arising During Period, before Tax       1  
Cost of goods sold | Not Designated as Hedging Instrument [Member] | Foreign currency contracts          
Fair Value, Derivatives Designated and Not Designated as Hedges          
Derivative, Gain (Loss) on Derivative, Net (17) 2 10 4  
Cost of goods sold | Not Designated as Hedging Instrument [Member] | Commodity contracts          
Fair Value, Derivatives Designated and Not Designated as Hedges          
Derivative, Gain (Loss) on Derivative, Net 34 (60) (33) (58)  
Selling, general and administrative expenses | Not Designated as Hedging Instrument [Member] | Other derivative instruments          
Fair Value, Derivatives Designated and Not Designated as Hedges          
Derivative, Gain (Loss) on Derivative, Net 20 4 (12) 32  
Interest Expense [Member] | Fair Value Hedging [Member]          
Fair Value, Derivatives Designated and Not Designated as Hedges          
Derivative, Gain (Loss) on Derivative, Net (3) 6 3 10  
Interest Expense [Member] | Foreign currency contracts | Cash Flow Hedging [Member]          
Fair Value, Derivatives Designated and Not Designated as Hedges          
Gain (Loss) Reclassified from AOCI into Income (Effective Portion) (6) (3) (10) (7)  
Other Comprehensive Income (Loss), Unrealized Gain (Loss) on Derivatives Arising During Period, before Tax 0 0 0 0  
Interest Expense [Member] | Interest Rate Contract [Member] | Cash Flow Hedging [Member]          
Fair Value, Derivatives Designated and Not Designated as Hedges          
Gain (Loss) Reclassified from AOCI into Income (Effective Portion) (14) (10) (35) (30)  
Other Comprehensive Income (Loss), Unrealized Gain (Loss) on Derivatives Arising During Period, before Tax 9 (30) 21 (47)  
Interest Expense [Member] | Interest Rate Contract [Member] | Fair Value Hedging [Member]          
Fair Value, Derivatives Designated and Not Designated as Hedges          
Derivative, Gain (Loss) on Derivative, Net 94 206 284 647  
Interest Expense [Member] | Fixed-rate debt | Fair Value Hedging [Member]          
Fair Value, Derivatives Designated and Not Designated as Hedges          
Derivative, Gain (Loss) on Derivative, Net (97) (200) (281) (637)  
Interest Expense [Member] | Not Designated as Hedging Instrument [Member] | Interest Rate Contract [Member]          
Fair Value, Derivatives Designated and Not Designated as Hedges          
Derivative, Gain (Loss) on Derivative, Net $ 2 $ 0 $ 2 $ 0