FINANCIAL INSTRUMENTS (Tables)

3 Months Ended

Mar. 31, 2014

Financial Instruments [Abstact]

Fair Value of Financial Instruments

Fair Value of Financial Instruments
	At March 31, 2014											At December 31, 2013
In millions	Cost			Gain		Loss			Fair Value			Cost			Gain		Loss			Fair Value
Marketable securities: (1)
Debt securities:
Government debt (2)	$	534		$	29	$	(4	)	$	559		$	544		$	28	$	(8	)	$	564
Corporate bonds	655			46		(3		)	698			659			43		(7		)	695
Total debt securities	$	1,189		$	75	$	(7	)	$	1,257		$	1,203		$	71	$	(15	)	$	1,259
Equity securities	661			169		(7		)	823			605			196		(4		)	797
Total marketable securities	$	1,850		$	244	$	(14	)	$	2,080		$	1,808		$	267	$	(19	)	$	2,056
Long-term debt including debt due within one year (3)	$	(17,287	)	$	170	$	(2,232	)	$	(19,349	)	$	(17,517	)	$	296	$	(2,246	)	$	(19,467	)
Derivatives relating to:
Interest rates	$	—		$	—	$	(6	)	$	(6	)	$	—		$	—	$	(5	)	$	(5	)
Commodities (4)	$	—		$	13	$	(5	)	$	8		$	—		$	11	$	(2	)	$	9
Foreign currency	$	—		$	13	$	(29	)	$	(16	)	$	—		$	45	$	(13	)	$	32

(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) The cost basis includes fair value hedge adjustments of $22 million at March 31, 2014 and $22 million at December 31, 2013.

(4) Presented net of cash collateral, as disclosed in Note 7.

Investing Results

Investing Results	Three Months Ended
In millions	Mar 31, 2014			Mar 31, 2013
Proceeds from sales of available-for-sale securities	$	208		$	214
Gross realized gains	$	46		$	36
Gross realized losses	$	(1	)	$	(9	)

Contractual Maturities of Debt Securities

Contractual Maturities of Debt Securities at March 31, 2014
In millions	Amortized Cost		Fair Value
Within one year	$	10	$	10
One to five years	601		635
Six to ten years	451		464
After ten years	127		148
Total	$	1,189	$	1,257

Schedule Fair Values of Derivative Instruments

Fair Value of Derivative Instruments In millions	Balance Sheet Classification	Mar 31, 2014		Dec 31, 2013
Asset Derivatives
Derivatives designated as hedges:
Commodities	Other current assets	$	21	$	13
Total derivatives designated as hedges		$	21	$	13
Derivatives not designated as hedges:
Commodities	Other current assets	$	1	$	1
Foreign currency	Accounts and notes receivable – Other	27		65
Total derivatives not designated as hedges		$	28	$	66
Total asset derivatives		$	49	$	79
Liability Derivatives
Derivatives designated as hedges:
Interest rates	Accounts payable – Other	$	6	$	5
Commodities	Accounts payable – Other	14		5
Foreign currency	Accounts payable – Other	4		9
Total derivatives designated as hedges		$	24	$	19
Derivatives not designated as hedges:
Commodities	Accounts payable – Other	$	1	$	1
Foreign currency	Accounts payable – Other	39		24
Total derivatives not designated as hedges		$	40	$	25
Total liability derivatives		$	64	$	44