Quarterly report pursuant to Section 13 or 15(d)

Hedging Transactions and Derivative Financial Instruments (Details)

v3.21.2
Hedging Transactions and Derivative Financial Instruments (Details) - USD ($)
$ in Millions
 3 Months Ended 6 Months Ended
Jul. 02, 2021
Jun. 26, 2020
Jul. 02, 2021
Jun. 26, 2020
Dec. 31, 2020
Fair Value, Derivatives Designated and Not Designated as Hedges          
Maximum Length of Time Hedged in Cash Flow Hedge     4 years    
Anticipated gains (losses) cash flows hedges, estimated reclassification to earnings during next twelve months     $ 23    
Reclassification adjustments recognized in net income $ 184 $ 0 184 $ 3  
Net Investment Hedging [Member]          
Fair Value, Derivatives Designated and Not Designated as Hedges          
Derivative, Notional Amount 13,371   13,371   $ 13,787
Other Comprehensive Income (Loss), Unrealized Gain (Loss) on Derivatives Arising During Period, before Tax (113) (64) 362 12  
Reclassification adjustments recognized in net income 4   4    
Cash Flow Hedging [Member]          
Fair Value, Derivatives Designated and Not Designated as Hedges          
Other Comprehensive Income (Loss), Unrealized Gain (Loss) on Derivatives Arising During Period, before Tax (39) (88) 141 (56)  
Gain (Loss) Reclassified from AOCI into Income (Effective Portion) (106) (49) (70) (50)  
Fair Value Hedging [Member]          
Fair Value, Derivatives Designated and Not Designated as Hedges          
Derivative, Gain (Loss) on Derivative, Net 2 (3) 2 6  
Long-term Debt, Current Maturities [Domain] | Fair Value Hedging [Member]          
Fair Value, Derivatives Designated and Not Designated as Hedges          
Derivative, Amount of Hedged Item 199   199   0
Hedged Liability, Fair Value Hedge, Cumulative Increase (Decrease) 4   4   0
Long-term Debt [Member] | Fair Value Hedging [Member]          
Fair Value, Derivatives Designated and Not Designated as Hedges          
Derivative, Amount of Hedged Item 15,689   15,689   11,129
Hedged Liability, Fair Value Hedge, Cumulative Increase (Decrease) 553   553   646
Foreign currency denominated debt | Net Investment Hedging [Member]          
Fair Value, Derivatives Designated and Not Designated as Hedges          
Derivative, Notional Amount 13,371   13,371   13,336
Other Comprehensive Income (Loss), Unrealized Gain (Loss) on Derivatives Arising During Period, before Tax (114) (86) 369 (7)  
Foreign currency contracts | Net Investment Hedging [Member]          
Fair Value, Derivatives Designated and Not Designated as Hedges          
Derivative, Notional Amount 0   0   451
Other Comprehensive Income (Loss), Unrealized Gain (Loss) on Derivatives Arising During Period, before Tax 1 22 (7) 19  
Foreign currency contracts | Cash Flow Hedging [Member]          
Fair Value, Derivatives Designated and Not Designated as Hedges          
Derivative, Notional Amount 8,453   8,453   7,785
Cross Currency Swap | Cash Flow Hedging [Member]          
Fair Value, Derivatives Designated and Not Designated as Hedges          
Derivative, Notional Amount 2,700   2,700   2,700
Interest Rate Swap [Member] | Cash Flow Hedging [Member]          
Fair Value, Derivatives Designated and Not Designated as Hedges          
Derivative, Notional Amount         1,233
Interest Rate Swap [Member] | Fair Value Hedging [Member]          
Fair Value, Derivatives Designated and Not Designated as Hedges          
Derivative, Notional Amount 15,391   15,391   10,215
Commodity Contract [Member] | Cash Flow Hedging [Member]          
Fair Value, Derivatives Designated and Not Designated as Hedges          
Derivative, Notional Amount 22   22   11
Designated as Hedging Instrument [Member]          
Fair Value, Derivatives Designated and Not Designated as Hedges          
Derivative instruments, assets, fair value 582   582   761
Derivative instruments, liabilities, fair value 70   70   34
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 100   100   26
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   74
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 20   20   29
Designated as Hedging Instrument [Member] | Foreign currency contracts | Other Liabilities          
Fair Value, Derivatives Designated and Not Designated as Hedges          
Derivative instruments, liabilities, fair value 2   2   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 405   405   659
Designated as Hedging Instrument [Member] | Interest Rate Contract [Member] | Accounts payable and accrued expenses          
Fair Value, Derivatives Designated and Not Designated as Hedges          
Derivative instruments, liabilities, fair value 0   0   5
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 48   48   0
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   0
Designated as Hedging Instrument [Member] | Commodity Contract [Member] | Prepaid expenses and other assets          
Fair Value, Derivatives Designated and Not Designated as Hedges          
Derivative instruments, assets, fair value 0   0   2
Not Designated as Hedging Instrument [Member]          
Fair Value, Derivatives Designated and Not Designated as Hedges          
Derivative instruments, assets, fair value 259   259   137
Derivative instruments, liabilities, fair value 48   48   57
Derivative, Gain (Loss) on Derivative, Net 174 100 37 (151)  
Not Designated as Hedging Instrument [Member] | Foreign currency contracts          
Fair Value, Derivatives Designated and Not Designated as Hedges          
Derivative, Notional Amount 5,756   5,756   5,727
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 42   42   28
Not Designated as Hedging Instrument [Member] | Foreign currency contracts | 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] | Foreign currency contracts | Accounts payable and accrued expenses          
Fair Value, Derivatives Designated and Not Designated as Hedges          
Derivative instruments, liabilities, fair value 46   46   41
Not Designated as Hedging Instrument [Member] | Foreign currency contracts | Other Liabilities          
Fair Value, Derivatives Designated and Not Designated as Hedges          
Derivative instruments, liabilities, fair value 2   2   0
Not Designated as Hedging Instrument [Member] | Interest Rate Contract [Member]          
Fair Value, Derivatives Designated and Not Designated as Hedges          
Derivative, Notional Amount 200   200   200
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 2   2   20
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 0   0   3
Not Designated as Hedging Instrument [Member] | Commodity Contract [Member]          
Fair Value, Derivatives Designated and Not Designated as Hedges          
Derivative, Notional Amount 1,215   1,215   715
Not Designated as Hedging Instrument [Member] | Commodity Contract [Member] | Prepaid expenses and other assets          
Fair Value, Derivatives Designated and Not Designated as Hedges          
Derivative instruments, assets, fair value 162   162   76
Not Designated as Hedging Instrument [Member] | Commodity Contract [Member] | Other Assets          
Fair Value, Derivatives Designated and Not Designated as Hedges          
Derivative instruments, assets, fair value 50   50   9
Not Designated as Hedging Instrument [Member] | Commodity Contract [Member] | Accounts payable and accrued expenses          
Fair Value, Derivatives Designated and Not Designated as Hedges          
Derivative instruments, liabilities, fair value 0   0   15
Not Designated as Hedging Instrument [Member] | Commodity Contract [Member] | Other Liabilities          
Fair Value, Derivatives Designated and Not Designated as Hedges          
Derivative instruments, liabilities, fair value 0   0   $ 1
Net operating revenues | Foreign currency contracts | Cash Flow Hedging [Member]          
Fair Value, Derivatives Designated and Not Designated as Hedges          
Other Comprehensive Income (Loss), Unrealized Gain (Loss) on Derivatives Arising During Period, before Tax 7 (80) (16) 23  
Gain (Loss) Reclassified from AOCI into Income (Effective Portion) (27) 3 (50) (1)  
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 1 38 0 62  
Cost of goods sold | Foreign currency contracts | Cash Flow Hedging [Member]          
Fair Value, Derivatives Designated and Not Designated as Hedges          
Other Comprehensive Income (Loss), Unrealized Gain (Loss) on Derivatives Arising During Period, before Tax (6) (1) (11) 10  
Gain (Loss) Reclassified from AOCI into Income (Effective Portion) (2) 4 (3) 5  
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 1 13 (7) 27  
Cost of goods sold | Not Designated as Hedging Instrument [Member] | Commodity Contract [Member]          
Fair Value, Derivatives Designated and Not Designated as Hedges          
Derivative, Gain (Loss) on Derivative, Net 128 18 210 (67)  
Interest Expense [Member] | Fair Value Hedging [Member]          
Fair Value, Derivatives Designated and Not Designated as Hedges          
Derivative, Gain (Loss) on Derivative, Net 2 (3) 2 6  
Interest Expense [Member] | Foreign currency contracts | Cash Flow Hedging [Member]          
Fair Value, Derivatives Designated and Not Designated as Hedges          
Other Comprehensive Income (Loss), Unrealized Gain (Loss) on Derivatives Arising During Period, before Tax 0 0 0 0  
Gain (Loss) Reclassified from AOCI into Income (Effective Portion) (10) (2) (11) (4)  
Interest Expense [Member] | Interest Rate Contract [Member] | Cash Flow Hedging [Member]          
Fair Value, Derivatives Designated and Not Designated as Hedges          
Other Comprehensive Income (Loss), Unrealized Gain (Loss) on Derivatives Arising During Period, before Tax (11) 4 110 12  
Gain (Loss) Reclassified from AOCI into Income (Effective Portion) (85) (10) (90) (21)  
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 10 78 (180) 190  
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 (8) (81) 182 (184)  
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     (187) 0  
Other Income (loss) - net | Foreign currency contracts | Cash Flow Hedging [Member]          
Fair Value, Derivatives Designated and Not Designated as Hedges          
Other Comprehensive Income (Loss), Unrealized Gain (Loss) on Derivatives Arising During Period, before Tax (29) (11) 58 (101)  
Gain (Loss) Reclassified from AOCI into Income (Effective Portion) 18 (44) 84 (29)  
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 32 5 4 (86)  
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 2 (3) (55)  
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 $ 12 $ 24 $ 20 $ (32)