FINANCIAL INSTRUMENTS (Tables)

3 Months Ended

Mar. 31, 2015

Financial Instruments [Abstact]

Fair Value of Financial Instruments

Fair Value of Financial Instruments
	At March 31, 2015											At December 31, 2014
In millions	Cost			Gain		Loss			Fair Value			Cost			Gain		Loss			Fair Value
Marketable securities: (1)
Debt securities:
Government debt (2)	$	517		$	31	$	—		$	548		$	559		$	26	$	(1	)	$	584
Corporate bonds	677			54		(1		)	730			654			45		(2		)	697
Total debt securities	$	1,194		$	85	$	(1	)	$	1,278		$	1,213		$	71	$	(3	)	$	1,281
Equity securities	557			164		(19		)	702			566			177		(15		)	728
Total marketable securities	$	1,751		$	249	$	(20	)	$	1,980		$	1,779		$	248	$	(18	)	$	2,009
Long-term debt including debt due within one year (3)	$	(19,307	)	$	3	$	(2,606	)	$	(21,910	)	$	(19,232	)	$	100	$	(2,318	)	$	(21,450	)
Derivatives relating to:
Interest rates	$	—		$	—	$	(12	)	$	(12	)	$	—		$	—	$	(12	)	$	(12	)
Commodities (4)	$	—		$	5	$	(164	)	$	(159	)	$	—		$	3	$	(81	)	$	(78	)
Foreign currency	$	—		$	23	$	(139	)	$	(116	)	$	—		$	26	$	(71	)	$	(45	)

(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 hedge adjustments of $20 million at March 31, 2015 and $21 million at December 31, 2014.

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

Investing Results

Investing Results	Three Months Ended
In millions	Mar 31, 2015			Mar 31, 2014
Proceeds from sales of available-for-sale securities	$	114		$	208
Gross realized gains	$	23		$	46
Gross realized losses	$	(1	)	$	(1	)

Contractual Maturities of Debt Securities

Contractual Maturities of Debt Securities at March 31, 2015
In millions	Amortized Cost		Fair Value
Within one year	$	17	$	17
One to five years	468		491
Six to ten years	511		542
After ten years	198		228
Total	$	1,194	$	1,278

Schedule Fair Values of Derivative Instruments

Fair Value of Derivative Instruments In millions	Balance Sheet Classification	Mar 31, 2015		Dec 31, 2014
Asset Derivatives
Derivatives designated as hedges:
Commodities	Other current assets	$	2	$	4
Foreign currency	Accounts and notes receivable – Other	48		25
Total derivatives designated as hedges		$	50	$	29
Derivatives not designated as hedges:
Commodities	Other current assets	$	4	$	2
Foreign currency	Accounts and notes receivable – Other	64		91
Total derivatives not designated as hedges		$	68	$	93
Total asset derivatives		$	118	$	122
Liability Derivatives
Derivatives designated as hedges:
Interest rates	Accounts payable – Other	$	12	$	12
Commodities	Accounts payable – Other	165		106
Foreign currency	Accounts payable – Other	1		—
Total derivatives designated as hedges		$	178	$	118
Derivatives not designated as hedges:
Commodities	Accounts payable – Other	$	2	$	2
Foreign currency	Accounts payable – Other	227		161
Total derivatives not designated as hedges		$	229	$	163
Total liability derivatives		$	407	$	281