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 9 Months Ended
Oct. 01, 2021
Sep. 25, 2020
Oct. 01, 2021
Sep. 25, 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     $ 7    
Reclassification adjustments recognized in net income $ (13) $ 0 (197) $ (3)  
Gains (Losses) on Net Investment Hedges, before Reclassification and Tax 310 (468) 672 (456)  
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), Reclassification, before Tax (63)   (139)    
Net Investment Hedging [Member]          
Fair Value, Derivatives Designated and Not Designated as Hedges          
Derivative, Notional Amount 13,066   13,066   $ 13,787
Gain (Loss) Reclassified from AOCI into Income (Effective Portion) (4)        
Gains (Losses) on Net Investment Hedges, before Reclassification and Tax 310 (468) 672 (456)  
Cash Flow Hedging [Member]          
Fair Value, Derivatives Designated and Not Designated as Hedges          
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), before Reclassification and Tax (22) 41 119 (15)  
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), Reclassification, before Tax (63) 60 (133) 10  
Fair Value Hedging [Member]          
Fair Value, Derivatives Designated and Not Designated as Hedges          
Derivative, Gain (Loss) on Derivative, Net (1) (3) 1 3  
Short-term Debt, Type [Domain] | Fair Value Hedging [Member]          
Fair Value, Derivatives Designated and Not Designated as Hedges          
Derivative, Amount of Hedged Item 200   200   0
Hedged Liability, Fair Value Hedge, Cumulative Increase (Decrease) 2   2   0
Hedged Liability, Discontinued Fair Value Hedge, Cumulative Increase (Decrease) 0   0   0
Long-term Debt [Member] | Fair Value Hedging [Member]          
Fair Value, Derivatives Designated and Not Designated as Hedges          
Derivative, Amount of Hedged Item 8,557   8,557   11,129
Hedged Liability, Fair Value Hedge, Cumulative Increase (Decrease) 348   348   646
Hedged Liability, Discontinued Fair Value Hedge, Cumulative Increase (Decrease) 236   236   0
Foreign currency denominated debt | Net Investment Hedging [Member]          
Fair Value, Derivatives Designated and Not Designated as Hedges          
Derivative, Notional Amount 13,066   13,066   13,336
Gains (Losses) on Net Investment Hedges, before Reclassification and Tax 304 (445) 673 (452)  
Foreign currency contracts | Net Investment Hedging [Member]          
Fair Value, Derivatives Designated and Not Designated as Hedges          
Derivative, Notional Amount 0   0   451
Gains (Losses) on Net Investment Hedges, before Reclassification and Tax 6 (23) (1) (4)  
Foreign currency contracts | Cash Flow Hedging [Member]          
Fair Value, Derivatives Designated and Not Designated as Hedges          
Derivative, Notional Amount 8,105   8,105   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 8,192   8,192   10,215
Commodity Contract [Member] | Cash Flow Hedging [Member]          
Fair Value, Derivatives Designated and Not Designated as Hedges          
Derivative, Notional Amount 34   34   11
Designated as Hedging Instrument [Member]          
Fair Value, Derivatives Designated and Not Designated as Hedges          
Derivative instruments, assets, fair value 511   511   761
Derivative instruments, liabilities, fair value 22   22   34
Designated as Hedging Instrument [Member] | Foreign currency contracts | Prepaid Expenses and Other Current Assets          
Fair Value, Derivatives Designated and Not Designated as Hedges          
Derivative instruments, assets, fair value 122   122   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 41   41   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 19   19   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 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 346   346   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 Swap [Member] | Prepaid Expenses and Other Current Assets          
Fair Value, Derivatives Designated and Not Designated as Hedges          
Derivative instruments, assets, fair value 2   2   0
Designated as Hedging Instrument [Member] | Commodity Contract [Member] | Prepaid Expenses and Other Current Assets          
Fair Value, Derivatives Designated and Not Designated as Hedges          
Derivative instruments, assets, fair value 0   0   2
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 2   2   0
Not Designated as Hedging Instrument [Member]          
Fair Value, Derivatives Designated and Not Designated as Hedges          
Derivative instruments, assets, fair value 194   194   137
Derivative instruments, liabilities, fair value 63   63   57
Derivative, Gain (Loss) on Derivative, Net (85) 94 (48) (57)  
Not Designated as Hedging Instrument [Member] | Foreign currency contracts          
Fair Value, Derivatives Designated and Not Designated as Hedges          
Derivative, Notional Amount 5,489   5,489   5,727
Not Designated as Hedging Instrument [Member] | Foreign currency contracts | Prepaid Expenses and Other Current Assets          
Fair Value, Derivatives Designated and Not Designated as Hedges          
Derivative instruments, assets, fair value 28   28   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 2   2   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 49   49   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 6   6   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 Current Assets          
Fair Value, Derivatives Designated and Not Designated as Hedges          
Derivative instruments, assets, fair value 1   1   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] | Other derivative instruments | Accounts payable and accrued expenses          
Fair Value, Derivatives Designated and Not Designated as Hedges          
Derivative instruments, liabilities, fair value 6   6   0
Not Designated as Hedging Instrument [Member] | Commodity Contract [Member]          
Fair Value, Derivatives Designated and Not Designated as Hedges          
Derivative, Notional Amount 1,024   1,024   715
Not Designated as Hedging Instrument [Member] | Commodity Contract [Member] | Prepaid Expenses and Other Current Assets          
Fair Value, Derivatives Designated and Not Designated as Hedges          
Derivative instruments, assets, fair value 115   115   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 48   48   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 2   2   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), Cash Flow Hedge, Gain (Loss), before Reclassification and Tax 15 (84) (1) (61)  
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), Reclassification, before Tax (21) (21) (71) (22)  
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 2 2 64  
Cost of goods sold | Foreign currency contracts | Cash Flow Hedging [Member]          
Fair Value, Derivatives Designated and Not Designated as Hedges          
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), before Reclassification and Tax 6 (4) (5) 6  
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), Reclassification, before Tax (6) 2 (9) 7  
Cost of goods sold | Commodity Contract [Member] | Cash Flow Hedging [Member]          
Fair Value, Derivatives Designated and Not Designated as Hedges          
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), before Reclassification and Tax   (2)   (2)  
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), Reclassification, before Tax   (1)   (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 (10) (17) (17) 10  
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 (32) 34 178 (33)  
Interest Expense [Member] | Fair Value Hedging [Member]          
Fair Value, Derivatives Designated and Not Designated as Hedges          
Derivative, Gain (Loss) on Derivative, Net (1) (3) 1 3  
Interest Expense [Member] | Foreign currency contracts | Cash Flow Hedging [Member]          
Fair Value, Derivatives Designated and Not Designated as Hedges          
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), before Reclassification and Tax 0 0 0 0  
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), Reclassification, before Tax (1) (6) (12) (10)  
Interest Expense [Member] | Interest Rate Contract [Member] | Cash Flow Hedging [Member]          
Fair Value, Derivatives Designated and Not Designated as Hedges          
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), before Reclassification and Tax   9 110 21  
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), Reclassification, before Tax   (14) (90) (35)  
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 (56) 94 (236) 284  
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 55 (97) 237 (281)  
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 0 2 (187) 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          
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), before Reclassification and Tax (43) 122 15 21  
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), Reclassification, before Tax (35) 100 49 71  
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 0 3 0 3  
Other Income (loss) - net | Available-for-sale Securities [Member] | Fair Value Hedging [Member]          
Fair Value, Derivatives Designated and Not Designated as Hedges          
Derivative, Gain (Loss) on Derivative, Net 0 (3) 0 (3)  
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 (43) 53 (39) (33)  
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     (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 $ (2) $ 20 $ 18 $ (12)