Note 7 - Derivative Instruments (Tables)

6 Months Ended

Jun. 30, 2013

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Fair value of outstanding derivative instruments

The fair value of our outstanding derivative instruments as of June 30, 2013 and December 31, 2012 was as follows:

	Derivative Assets Reported in Other Current Assets				Derivative Liabilities Reported in Other Current Liabilities
	June 30, 2013		December 31, 2012		June 30, 2013		December 31, 2012
	(In millions)
Foreign exchange contracts designated as cash flow hedges	$	68	$	1	$	12	$	56
Foreign exchange contracts not designated as hedging instruments	32		43		36		30
Other contracts not designated as hedging instruments	10		11		—		—
Total fair value of derivative instruments	$	110	$	55	$	48	$	86

Summary of activity of derivative contracts that qualify for hedge accounting and the impact of designated derivative contrqacts on accumulated other comprehensive income

The following table summarizes the activity of derivative contracts that qualify for hedge accounting as of June 30, 2013 and December 31, 2012, and the impact of designated derivative contracts on accumulated other comprehensive income for the six months ended June 30, 2013:

	December 31, 2012			Amount of gain (loss) recognized in other comprehensive income (effective portion)		Amount of gain (loss) reclassified from accumulated other comprehensive income to net revenue and operating expense (effective portion)			June 30, 2013
	(In millions)
Foreign exchange contracts designated as cash flow hedges	$	(55	)	$	107	$	(4	)	$	56

The following table summarizes the activity of derivative contracts that qualify for hedge accounting as of June 30, 2012 and December 31, 2011, and the impact of designated derivative contracts on accumulated other comprehensive income for the six months ended June 30, 2012:

	December 31, 2011		Amount of gain (loss) recognized in other comprehensive income (effective portion)		Amount of gain (loss) reclassified from accumulated other comprehensive income to net revenue and operating expense (effective portion)		June 30, 2012
	(In millions)
Foreign exchange contracts designated as cash flow hedges	$	72	$	24	$	41	$	55

Schedule of location in financial statements of recognized gains or losses related to derivative instruments

The following table provides the location in our financial statements of the recognized gains or losses related to our derivative instruments: 

	Three Months Ended June 30,						Six Months Ended June 30,
	2013			2012			2013			2012
	(In millions)
Foreign exchange contracts designated as cash flow hedges recognized in net revenues	$	3		$	14		$	3		$	26
Foreign exchange contracts designated as cash flow hedges recognized in operating expenses	(3		)	4			(7		)	9
Foreign exchange contracts not designated as hedging instruments recognized in interest and other, net	13			(11		)	17			(8		)
Other contracts not designated as hedging instruments recognized in interest and other, net	—			—			—			4
Total gain (loss) recognized from derivative contracts in the condensed consolidated statement of income	$	13		$	7		$	13		$	31