Financial Instruments (Tables)

6 Months Ended

Jun. 30, 2013

Fair Value Disclosures [Abstract]

Carrying and Estimated Fair Value

The carrying and estimated fair values of our financial instruments by class at June 30, 2013 and December 31, 2012 were as follows:

	June 30, 2013				December 31, 2012
	Carrying Amount		Fair Value		Carrying Amount		Fair Value
	(Millions)
Long-term debt (including current maturities)	$	1,160	$	1,217	$	1,070	$	1,136
Instruments with off-balance sheet risk:
Foreign exchange forward contracts:
Asset derivative contracts	—		—		1		1

Foreign Exchange Forward Contracts Fair Value on Gross Basis

The fair value of our foreign exchange forward contracts, presented on a gross basis at June 30, 2013 and December 31, 2012, respectively, was as follows:

	Fair Value of Derivative Instruments
	June 30, 2013						December 31, 2012
	Asset Derivatives		Liability Derivatives		Total		Asset Derivatives	Liability Derivatives		Total
	(Millions)
Foreign exchange forward contracts		$—		$—		$—	$1		$—		$1

Fair Value of Financial Assets on Recurring Basis

The fair value of our recurring financial assets at June 30, 2013 and December 31, 2012, respectively, are as follows:

	June 30, 2013				December 31, 2012
	Level 1	Level 2		Level 3	Level 1	Level 2		Level 3
	(Millions)
Financial Assets:
Foreign exchange forward contracts	n/a	$	—	n/a	n/a	$	1	n/a

Fair Value Hierarchy

The fair value hierarchy definition prioritizes the inputs used in measuring fair value into the following levels:

Level 1	—	Quoted prices in active markets for identical assets or liabilities.
Level 2	—	Inputs, other than quoted prices in active markets, that are observable either directly or indirectly.
Level 3	—	Unobservable inputs based on our own assumptions.

Summarization for Foreign Currency Forward Purchase and Sale Contracts

The following table summarizes by major currency the notional amounts for foreign currency forward purchase and sale contracts as of June 30, 2013 (all of which mature in 2013):

		Notional Amount in Foreign Currency
		(Millions)
Australian dollars	—Purchase	3
	—Sell	(2	)
British pounds	—Purchase	8
European euro	—Sell	(8	)
South African rand	—Purchase	103
Japanese yen	—Purchase	159
	—Sell	(790	)
U.S. dollars	—Purchase	13
	—Sell	(17	)
Other	—Purchase	1
	—Sell	(2	)