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FINANCIAL INSTRUMENTS (Tables)
 6 Months Ended
Jun. 30, 2016
Financial Instruments [Abstact]  
Fair Value of Financial Instruments
The following table summarizes the fair value of financial instruments at June 30, 2016 and December 31, 2015:

Fair Value of Financial Instruments
 
At June 30, 2016
 
At December 31, 2015
In millions
Cost

 
Gain

 
Loss

 
Fair
Value

 
Cost

 
Gain

 
Loss

 
Fair
Value

Marketable securities: (1)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Debt securities:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Government debt (2)
$
572

 
$
42

 
$
—

 
$
614

 
$
597

 
$
22

 
$
(7
)
 
$
612

Corporate bonds
671

 
47

 
(3
)
 
715

 
633

 
26

 
(8
)
 
651

Total debt securities
$
1,243

 
$
89

 
$
(3
)
 
$
1,329

 
$
1,230

 
$
48

 
$
(15
)
 
$
1,263

Equity securities
579

 
101

 
(49
)
 
631

 
555

 
108

 
(60
)
 
603

Total marketable securities
$
1,822

 
$
190

 
$
(52
)
 
$
1,960

 
$
1,785

 
$
156

 
$
(75
)
 
$
1,866

Long-term debt including debt due within one year (3)
$
(21,111
)
 
$
17

 
$
(2,306
)
 
$
(23,400
)
 
$
(16,756
)
 
$
424

 
$
(1,668
)
 
$
(18,000
)
Derivatives relating to:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Interest rates
$
—

 
$
—

 
$
(9
)
 
$
(9
)
 
$
—

 
$
—

 
$
(4
)
 
$
(4
)
Commodities (4)
$
—

 
$
17

 
$
(222
)
 
$
(205
)
 
$
—

 
$
6

 
$
(248
)
 
$
(242
)
Foreign currency
$
—

 
$
54

 
$
(139
)
 
$
(85
)
 
$
—

 
$
109

 
$
(32
)
 
$
77

(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 $18 million at June 30, 2016 and $18 million at December 31, 2015.
(4)
Presented net of cash collateral, as disclosed in Note 9.
Investing Results
The following table provides the investing results from available-for-sale securities for the six-month periods ended June 30, 2016 and June 30, 2015:

Investing Results
Six Months Ended
In millions
Jun 30,
2016

 
Jun 30,
2015

Proceeds from sales of available-for-sale securities
$
331

 
$
195

Gross realized gains
$
23

 
$
31

Gross realized losses
$
(1
)
 
$
(2
)
Contractual Maturities of Debt Securities
The following table summarizes the contractual maturities of the Company’s investments in debt securities:
 
Contractual Maturities of Debt Securities
at June 30, 2016
In millions
Amortized Cost

 
Fair Value

Within one year
$
15

 
$
15

One to five years
314

 
327

Six to ten years
653

 
696

After ten years
261

 
291

Total
$
1,243

 
$
1,329
Schedule of Fair Value And Gross Unrealized Losses Of Investments Temporarily Impaired [Table Text Block]
The following tables provide the fair value and gross unrealized losses of the Company’s investments that were deemed to be temporarily impaired at June 30, 2016 and December 31, 2015, aggregated by investment category:

Temporarily Impaired Securities at June 30, 2016
 
Less than 12 months
 
12 months or more
 
Total
In millions
Fair
Value

 
Unrealized
Losses

 
Fair
Value

 
Unrealized
Losses

 
Fair Value

 
Unrealized Losses

Corporate bonds
$
45

 
$
(1
)
 
$
13

 
$
(1
)
 
$
58

 
$
(2
)
Equity securities
30

 
(5
)
 
143

 
(44
)
 
173

 
(49
)
Total temporarily impaired securities
$
75

 
$
(6
)
 
$
156

 
$
(45
)
 
$
231

 
$
(51
)


Temporarily Impaired Securities at December 31, 2015
 
Less than 12 months
 
12 months or more
 
Total
In millions
Fair
Value

 
Unrealized
Losses

 
Fair
Value

 
Unrealized
Losses

 
Fair Value

 
Unrealized Losses

Government debt (1)
$
251

 
$
(7
)
 
$
1

 
$
—

 
$
252

 
$
(7
)
Corporate bonds
175

 
(8
)
 
1

 
—

 
176

 
(8
)
Equity securities
197

 
(54
)
 
10

 
(6
)
 
207

 
(60
)
Total temporarily impaired securities
$
623

 
$
(69
)
 
$
12

 
$
(6
)
 
$
635

 
$
(75
)
(1)
U.S. Treasury obligations, U.S. agency obligations, agency mortgage-backed securities and other municipalities' obligations.
Schedule Fair Values of Derivative Instruments
The following table provides the fair value and gross balance sheet classification of derivative instruments at June 30, 2016 and December 31, 2015:
 
Fair Value of Derivative Instruments
In millions
Balance Sheet Classification
 
Jun 30,
2016

 
Dec 31,
2015

Asset Derivatives
 
 
 
 
 
Derivatives designated as hedges:
 
 
 
 
 
Commodities
Other current assets
 
$
14

 
$
3

Commodities
Deferred charges and other assets
 
3

 
—

Foreign currency
Other current assets
 
8

 
5

Total derivatives designated as hedges
 
 
$
25

 
$
8

Derivatives not designated as hedges:
 
 
 
 
 
Commodities
Deferred charges and other assets
 
$
1

 
$
4

Foreign currency
Accounts and notes receivable – Other
 
155

 
156

Total derivatives not designated as hedges
 
 
$
156

 
$
160

Total asset derivatives
 
 
$
181

 
$
168

Liability Derivatives
 
 
 
 
 
Derivatives designated as hedges:
 
 
 
 
 
Interest rates
Accrued and other current liabilities
 
$
7

 
$
4

Interest rates
Other noncurrent obligations
 
2

 
—

Commodities
Accrued and other current liabilities
 
23

 
28

Commodities
Other noncurrent obligations
 
200

 
234

Foreign currency
Accrued and other current liabilities
 
12

 
1

Total derivatives designated as hedges
 
 
$
244

 
$
267

Derivatives not designated as hedges:
 
 
 
 
 
Commodities
Other noncurrent obligations
 
$
8

 
$
—

Foreign currency
Accounts payable – Other
 
236

 
83

Total derivatives not designated as hedges
 
 
$
244

 
$
83

Total liability derivatives
 
 
$
488

 
$
350