FAIR VALUE MEASUREMENTS (Tables)

12 Months Ended

Dec. 31, 2019

Fair Value Disclosures [Abstract]

Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis

The following table summarizes the bases used to measure certain assets and liabilities at fair value on a recurring basis:

Basis of Fair Value Measurements on a Recurring Basis 1	Dec 31, 2019						Dec 31, 2018
In millions	Level 1		Level 2		Total		Level 1		Level 2		Total
Assets at fair value:
Cash equivalents
Held to maturity securities 2	$	—	$	220	$	220	$	—	$	410	$	410
Money market funds	—		408		408		—		156		156
Marketable securities	—		21		21		—		100		100
Equity securities 3	15		—		15		16		—		16
Debt securities: 3
Government debt 4	—		555		555		—		700		700
Corporate bonds	22		992		1,014		—		983		983
Derivatives relating to: 5
Interest rates	—		35		35		—		—		—
Foreign currency	—		149		149		—		226		226
Commodities	23		67		90		17		93		110
Total assets at fair value	$	60	$	2,447	$	2,507	$	33	$	2,668	$	2,701
Liabilities at fair value:
Long-term debt including debt due within one year 6	$	—	$	18,661	$	18,661	$	—	$	20,212	$	20,212
Derivatives relating to: 5
Interest rates	—		310		310		—		64		64
Foreign currency	—		69		69		—		149		149
Commodities	14		137		151		23		189		212
Total liabilities at fair value	$	14	$	19,177	$	19,191	$	23	$	20,614	$	20,637

1. Prior period amounts were updated to conform with the current year presentation.

2. The Company had held-to-maturity securities (primary treasury bills and time deposits) classified as cash equivalents.

3. The Company’s investments in debt securities, which are primarily available-for-sale, and equity securities 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 23 for the classification of derivatives in the consolidated balance sheets.

6. See Note 23 for information on fair value measurements of long-term debt.

Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation

The following table summarizes the changes in fair value measurements using Level 3 inputs for the year ended December 31, 2018:

Fair Value Measurements Using Level 3 Inputs for Interests Held in Trade Accounts Receivable Conduits 1	2018
In millions
Balance at Jan 1	$	677
Gain (loss) included in earnings 2	3
Settlements 3	(680		)
Balance at Dec 31	$	—

1. Included in "Accounts and notes receivable – Other" in the consolidated balance sheets. See Note 15 for additional information.

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

3. Includes noncash transactions of $23 million for the year ended December 31, 2018.

Fair Value, Assets and Liabilities Measured on Nonrecurring Basis

The following table summarizes the bases used to measure certain assets at fair value on a nonrecurring basis in the consolidated balance sheets in 2019, 2018 and 2017:

Basis of Fair Value Measurements on a Nonrecurring Basis at Dec 31	(Level 3)		Total Losses
In millions
2019
Assets at fair value:
Long-lived assets, other assets and equity method investments	$	162	$	(2,031	)
Goodwill	$	—	$	(1,039	)
2018
Assets at fair value:
Long-lived assets and other assets	$	—	$	(67	)
2017
Assets at fair value:
Long-lived assets, intangible assets, other assets and equity method investments	$	61	$	(955	)
Goodwill	$	—	$	(1,491	)