FAIR VALUE MEASUREMENTS (Tables)

12 Months Ended

Dec. 31, 2011

Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block]



Basis of Fair Value Measurements on a Recurring Basis at December 31, 2011 In millions	Quoted Prices in Active Markets for Identical Items (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Counterparty and Cash Collateral Netting (1)			Total
Assets at fair value:
Interests in trade accounts receivable conduits (2)	$	—	$	—	$	1,141	$	—		$	1,141
Equity securities (3)	634		33		—		—			667
Debt securities: (3)
Government debt (4)	—		618		—		—			618
Corporate bonds	—		723		—		—			723
Derivatives relating to: (5)
Foreign currency	—		75		—		(44		)	31
Commodities	10		14		—		(8		)	16
Total assets at fair value	$	644	$	1,463	$	1,141	$	(52	)	$	3,196
Liabilities at fair value:
Derivatives relating to: (5)
Foreign currency	$	—	$	61	$	—	$	(44	)	$	17
Commodities	13		7		—		(19		)	1
Total liabilities at fair value	$	13	$	68	$	—	$	(63	)	$	18



Basis of Fair Value Measurements on a Recurring Basis at December 31, 2010 In millions	Quoted Prices in Active Markets for Identical Items (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Counterparty and Cash Collateral Netting (1)			Total
Assets at fair value:
Interests in trade accounts receivable conduits (2)	$	—	$	—	$	1,267	$	—		$	1,267
Equity securities (3)	556		36		—		—			592
Debt securities: (3)
Government debt (4)	—		641		—		—			641
Corporate bonds	—		831		—		—			831
Derivatives relating to: (5)
Foreign currency	—		86		—		(46		)	40
Commodities	12		18		—		(16		)	14
Total assets at fair value	$	568	$	1,612	$	1,267	$	(62	)	$	3,385
Liabilities at fair value:
Derivatives relating to: (5)
Foreign currency	$	—	$	84	$	—	$	(46	)	$	38
Commodities	7		17		—		(20		)	4
Total liabilities at fair value	$	7	$	101	$	—	$	(66	)	$	42


(1)	Cash collateral is classified as “Accounts and notes receivable – Other” in the consolidated balance sheets. Amounts represent the estimated net settlement amount when applying netting and set-off rights included in master netting arrangements between the Company and its counterparties and the payable or receivable for cash collateral held or placed with the same counterparty.


(2)	Included in “Accounts and notes receivable – Other” in the consolidated balance sheets. See Note O for additional information on transfers of financial assets.


(3)	The Company’s investments in equity and debt securities are primarily classified as available-for-sale and are included in “Other investments” in the consolidated balance sheets.


(4)	U.S. Treasury obligations, U.S. agency obligations, agency mortgage-backed securities and other municipalities’ obligations.


(5)	See Note J for the classification of derivatives in the consolidated balance sheets.

Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block]



Fair Value Measurements Using Level 3 Inputs for Interests Held in Trade Receivable Conduits (1)	2011			2010
In millions	2011			2010
Balance at January 1	$	1,267		$	—
Gain included in earnings (2)	3			8
Purchases	1,679			2,292
Settlements	(1,808		)	(1,033		)
Balance at December 31	$	1,141		$	1,267


(1)	Included in “Accounts and notes receivable – Other” in the consolidated balance sheets.


(2)	Included in "Selling, general and administrative expenses" in the consolidated statements of income.

Fair Value, Assets and Liabilities Measured on Nonrecurring Basis [Table Text Block]



Basis of Fair Value Measurements on a Nonrecurring Basis in 2010	Significant Other Unobservable Inputs		Total Losses
In millions	(Level 3)		2010
Assets at fair value:
Long-lived and other assets	$	—	$	(75	)



Basis of Fair Value Measurements on a Nonrecurring Basis in 2011	Significant Other Unobservable Inputs		Total Losses
In millions	(Level 3)		2011
Assets at fair value:
Long-lived assets and other assets	$	—	$	(27	)

- Definition

Tabular disclosure of assets and liabilities by class, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a nonrecurring basis in periods after initial recognition (for example, impaired assets). The disclosures that may be required or desired include: (a) the fair value measurements recorded during the period and the reasons for the measurements and (b) the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets or liabilities (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). Where the quoted price in an active market for the identical liability is not available, the Level 1 input is the quoted price of an identical liability when traded as an asset.

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- Definition

Tabular disclosure of the fair value measurement of assets using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes during the period attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets) and gains or losses recognized in other comprehensive income, and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issuances, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs), by class of asset.

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