Derivatives (Tables)

9 Months Ended

Sep. 30, 2013

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Derivatives as they appear on the balance sheet [Table Text Block]

The following tables present the gross fair values of derivative instruments, excluding cash collateral, and the reported net amounts along with where they appear on the consolidated balance sheets as of September 30, 2013 and December 31, 2012.

	September 30, 2013
(In millions)	Asset		Liability		Net Asset		Balance Sheet Location
Fair Value Hedges
Foreign currency	$	1	$	—	$	1	Other current assets
Interest rate	11		—		11		Other noncurrent assets
Total Designated Hedges	12		—		12
Not Designated as Hedges
Commodity	5		—		5		Other current assets
Total Not Designated as Hedges	5		—		5
Total	$	17	$	—	$	17

	September 30, 2013
(In millions)	Asset		Liability		Net Liability		Balance Sheet Location
Fair Value Hedges
Foreign currency	$	—	$	14	$	14	Other current liabilities
Total Designated Hedges	—		14		14
Not Designated as Hedges
Commodity	—		14		14		Other current liabilities
Total Not Designated as Hedges	—		14		14
Total	$	—	$	28	$	28

	December 31, 2012
(In millions)	Asset		Liability		Net Asset		Balance Sheet Location
Fair Value Hedges
Foreign currency	$	18	$	—	$	18	Other current assets
Interest rate	21		—		21		Other noncurrent assets
Total Designated Hedges	39		—		39
Not Designated as Hedges
Commodity	52		—		52		Other current assets
Total Not Designated as Hedges	52		—		52
Total	$	91	$	—	$	91

Effects of derivatives designated as fair value hedges [Table Text Block]

The pretax effect of derivative instruments designated as hedges of fair value in our consolidated statements of income are summarized in the table below. There is no ineffectiveness related to the fair value hedges.

		Gain (Loss)
		Three Months Ended September 30,						Nine Months Ended September 30,
(In millions)	Income Statement Location	2013			2012			2013			2012
Derivative
Interest rate	Net interest and other	$	5		$	6		$	(9	)	$	17
Foreign currency	Provision for income taxes	$	5		$	22		$	(41	)	$	(18	)
Hedged Item
Long-term debt	Net interest and other	$	(5	)	$	(6	)	$	9		$	(17	)
Accrued taxes	Provision for income taxes	$	(5	)	$	(22	)	$	41		$	18

Schedule of Interest Rate Derivatives [Table Text Block]

The following table presents by maturity date, information about our interest rate swap agreements as of September 30, 2013, including the weighted average, London Interbank Offer Rate (“LIBOR”)-based, floating rate.

Maturity Dates	Aggregate Notional Amount (in millions)		Weighted Average, LIBOR-Based, Floating Rate
October 1, 2017	$	600	4.67	%
March 15, 2018	$	300	4.51	%

Schedule of Notional Amounts of Outstanding Derivative Positions [Table Text Block]

Remaining Term	Bbls per Day	Weighted Average Price per Bbl	Benchmark
Swaps
October 2013 - December 2013	20,000	$96.29	West Texas Intermediate
October 2013 - December 2013	25,000	$109.19	Brent
Option Collars
October 2013 - December 2013	15,000	$90.00 floor / $101.17 ceiling	West Texas Intermediate
October 2013 - December 2013	15,000	$100.00 floor / $116.30 ceiling	Brent

Effects of derivatives not designated as hedges

The following table summarizes the effect of all derivative instruments not designated as hedges in our consolidated statements of income.

		Gain (Loss)
		Three Months Ended September 30,					Nine Months Ended September 30,
(In millions)	Income Statement Location	2013			2012		2013			2012
Commodity	Sales and other operating revenues, including related party	$	(86	)	$	45	$	(73	)	$	46