Derivatives and Hedging (Tables)

12 Months Ended

Dec. 31, 2012

Derivatives and Hedging

Notional and fair values of derivative instruments

   The notional and fair values of derivative instruments are as follows (in millions):

					Derivative Assets (1)				Derivative Liabilities (2)
	Notional Amount				Fair Value				Fair Value
As of December 31	2012		2011		2012		2011		2012		2011
Derivatives accounted for as hedges:
Interest rate contracts	$	336	$	702	$	17	$	16	$	—	$	—
Foreign exchange contracts		1,819		1,297		191		140		250		188
Total		2,155		1,999		208		156		250		188
Derivatives not accounted for as hedges:
Foreign exchange contracts		305		246		2		1		1		1
Total	$	2,460	$	2,245	$	210	$	157	$	251	$	189

(1)

Included within Other current assets or Other non-current assets

(2)

Included within Other liabilities or Other non-current liabilities

Derivative gains (losses)

  The amounts of derivative gains (losses) recognized in the Consolidated Financial Statements are as follows (in millions):

	December 31,
Gain (Loss) recognized in Accumulated Other Comprehensive Loss:	2012			2011
Cash flow hedges:
Interest rate contracts	$	—		$	(1	)
Foreign exchange contracts		(21	)		(54	)
Total		(21	)		(55	)
Foreign net investment hedges:
Foreign exchange contracts	$	4		$	(2	)
Gain (Loss) reclassified from Accumulated Other Comprehensive Loss into Income (Effective Portion):
Cash flow hedges:
Interest rate contracts (1)	$	(1	)	$	—
Foreign exchange contracts (2)		(34	)		(36	)
Total		(35	)		(36	)
Foreign net investment hedges:
Foreign exchange contracts	$	—		$	—

(1)

Included within Fiduciary investment income and Interest expense

(2)

Included within Other income (expense)

        The amount of gain (loss) recognized in the Consolidated Financial Statements is as follows (in millions):

	Twelve months ended December 31,
	Amount of Gain (Loss) Recognized in Income on Derivative(2)				Amount of Gain (Loss) Recognized in Income on Related Hedged Item
	2012		2011		2012			2011
Fair value hedges:
Foreign exchange contracts(1)	$	1	$	2	$	(1	)	$	(2	)

(1)

Relates to fixed rate debt

(2)

Included in interest expense