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Fair Value Measurements (Tables)
12 Months Ended
Dec. 31, 2012
Fair Value Disclosures [Abstract]  
Assets and Liabilities at fair value
The following table presents information about assets and liabilities recorded at fair value on the Consolidated Balance Sheet at December 31, 2012 and December 31, 2011:

 
Total Carrying Value in the
Consolidated
Balance Sheet
 
Quoted Prices in Active Markets for Identical
Assets/Liabilities
(Level 1)
 
Significant Other
Observable Inputs
(Level 2)
 
Significant Unobservable
Inputs
(Level 3)
(In millions)
2012
 
2011
 
2012
 
2011
 
2012
 
2011
 
2012
 
2011
Assets:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Investments
$
45

 
$
44

 
$
45

 
$
44

 
$

 
$

 
$

 
$

Foreign Exchange Contracts
2

 
37

 

 

 
2

 
37

 

 

Total Assets at Fair Value
$
47

 
$
81

 
$
45

 
$
44

 
$
2

 
$
37

 
$

 
$

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Liabilities:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Foreign Exchange Contracts
$
29

 
$
6

 
$

 
$

 
$
29

 
$
5

 
$

 
$
1

Other
3

 

 

 

 
3

 

 

 

Total Liabilities at Fair Value
$
32

 
$
6

 
$

 
$

 
$
32

 
$
5

 
$

 
$
1


Fair Value of Long-term Fixed Rate and Variable Rate Debt excluding Capital Leases

The following table presents supplemental fair value information about long term fixed rate and variable rate debt, excluding capital leases, at December 31, 2012 and December 31, 2011. The fair value was estimated using quoted market prices or discounted future cash flows which are considered Level 2 fair value measurements.

 
December 31,
 
December 31,
(In millions)
2012
 
2011
Fixed Rate Debt:
 
 
 
Carrying amount — liability
$
3,128

 
$
2,843

Fair value — liability
3,378

 
2,891

 
 
 
 
Variable Rate Debt:
 
 
 
Carrying amount — liability
$
1,798

 
$
2,071

Fair value — liability
1,808

 
2,029