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FINANCIAL INSTRUMENTS (Tables)

9 Months Ended

Sep. 30, 2012



Investing Results	Nine Months Ended
In millions	Sep 30, 2012			Sep 30, 2011
Proceeds from sales of available-for-sale securities	$	401		$	631
Gross realized gains	$	30		$	39
Gross realized losses	$	(10	)	$	(13	)

Contractual Maturities of Debt Securities



Contractual Maturities of Debt Securities at September 30, 2012
In millions	Amortized Cost		Fair Value
Within one year	$	27	$	28
One to five years	471		522
Six to ten years	498		553
After ten years	207		250
Total	$	1,203	$	1,353

Fair Value and Gross Unrealized Losses of Investments Temporarily Impaired



Temporarily Impaired Securities Less than 12 Months (1)
	At September 30, 2012					At December 31, 2011
In millions	Fair Value		Unrealized Losses			Fair Value		Unrealized Losses
Debt securities:
Corporate bonds	$	22	$	(1	)	$	44	$	(2	)
Total debt securities	$	22	$	(1	)	$	44	$	(2	)
Equity securities	157		(10		)	190		(36		)
Total temporarily impaired securities	$	179	$	(11	)	$	234	$	(38	)


(1)	Unrealized losses of 12 months or more were approximately $1 million.

Fair Value of Financial Instruments



Fair Value of Financial Instruments
	At September 30, 2012											At December 31, 2011
In millions	Cost			Gain		Loss			Fair Value			Cost			Gain		Loss			Fair Value
Marketable securities: (1)
Debt securities:
Government debt (2)	$	520		$	64	$	—		$	584		$	556		$	62	$	—		$	618
Corporate bonds	683			87		(1		)	769			652			73		(2		)	723
Total debt securities	$	1,203		$	151	$	(1	)	$	1,353		$	1,208		$	135	$	(2	)	$	1,341
Equity securities	623			103		(11		)	715			646			57		(36		)	667
Total marketable securities	$	1,826		$	254	$	(12	)	$	2,068		$	1,854		$	192	$	(38	)	$	2,008
Long-term debt incl. debt due within one year (3)	$	(19,963	)	$	29	$	(3,285	)	$	(23,219	)	$	(21,059	)	$	6	$	(2,736	)	$	(23,789	)
Derivatives relating to:
Interest rates	$	—		$	—	$	(7	)	$	(7	)	$	—		$	—	$	—		$	—
Commodities (4)	$	—		$	34	$	(2	)	$	32		$	—		$	16	$	(1	)	$	15
Foreign currency	$	—		$	23	$	(49	)	$	(26	)	$	—		$	31	$	(17	)	$	14

(1) Included in “Other investments” in the consolidated balance sheets.

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

(3) Cost includes fair value adjustments of $23 million at September 30, 2012 and $23 million at December 31, 2011.

(4) Presented net of cash collateral, as disclosed in Note H.

Notional Amount of Commodity Forward Contracts



Commodity	Sep 30, 2012	Dec 31, 2011	Notional Volume Unit
Corn	1.8	0.6	million bushels
Crude Oil	0.1	0.2	million barrels
Ethane	2.6	1.6	million barrels
Naphtha	30.0	90.0	kilotons
Natural Gas	111.9	7.4	million million British thermal units
Ethane / Propane Mix	0.1	0.2	million barrels
Soybeans	1.3	0.3	million bushels

Notional Amount of Other Commodity Contracts



Commodity	Sep 30, 2012	Dec 31, 2011	Notional Volume Unit
Ethane	1.2	2.1	million barrels
Naphtha	15.0	82.5	kilotons
Natural Gas	0.7	4.6	million million British thermal units

Schedule Fair Values of Derivative Instruments



Fair Value of Derivative Instruments In millions	Balance Sheet Classification	Sep 30, 2012		Dec 31, 2011
Asset Derivatives
Derivatives designated as hedges:
Interest rates	Other current assets	$	—	$	—
Commodities	Other current assets	29		5
Foreign currency	Accounts and notes receivable – Other	1		9
Total derivatives designated as hedges		$	30	$	14
Derivatives not designated as hedges:
Interest rates	Other current assets	$	—	$	—
Commodities	Other current assets	10		19
Foreign currency	Accounts and notes receivable – Other	45		66
Total derivatives not designated as hedges		$	55	$	85
Total asset derivatives		$	85	$	99
Liability Derivatives
Derivatives designated as hedges:
Interest rates	Accounts payable – Other	$	5	$	—
Commodities	Accounts payable – Other	13		11
Foreign currency	Accounts payable – Other	13		8
Total derivatives designated as hedges		$	31	$	19
Derivatives not designated as hedges:
Interest rates	Accounts payable – Other	$	2	$	—
Commodities	Accounts payable – Other	6		9
Foreign currency	Accounts payable – Other	59		53
Total derivatives not designated as hedges		$	67	$	62
Total liability derivatives		$	98	$	81

- Definition

Tabular disclosure of the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments, assets, and liabilities. Such certain disclosures about the financial instruments, assets, and liabilities include: (1) the fair value of the required items together with their carrying amounts (as appropriate) and (2) the methodology and assumptions used in developing such estimates of fair value.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 107

-Paragraph 14

-Subparagraph a

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 159

-Paragraph 18

-Subparagraph c(2), d, e, f

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Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

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-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 107

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-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 5: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 825

-SubTopic 10

-Section 50

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-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 159

-Paragraph 19

-Subparagraph a, b, c(1), d(1)

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

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-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 157

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-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 10: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 107

-Paragraph 10

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

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+ Details

- Definition

Tabular disclosure of the location and fair value amounts of derivative instruments (and nonderivative instruments that are designated and qualify as hedging instruments) reported in the statement of financial position.

+ References+ Details