DERIVATIVES AND HEDGING ACTIVITIES Derivatives and Hedging Activities (Tables)

6 Months Ended

Jun. 30, 2017

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block]

The following table presents changes in AOCI for the three-month period ended June 30, 2016:

In millions	Defined Benefit Pension and Postretirement Items (a)			Change in Cumulative Foreign Currency Translation Adjustments (a)			Net Gains and Losses on Cash Flow Hedging Derivatives (a)			Total (a)
Balance, April 1, 2016	$	(3,088	)	$	(2,314	)	$	13		$	(5,389	)
Other comprehensive income (loss) before reclassifications	(545		)	137			(14		)	(422		)
Amounts reclassified from accumulated other comprehensive income	335			(3		)	(3		)	329
Net Current Period Other Comprehensive Income (Loss)	(210		)	134			(17		)	(93		)
Other Comprehensive Income (Loss) Attributable to Noncontrolling Interest	—			1			—			1
Balance, June 30, 2016	$	(3,298	)	$	(2,179	)	$	(4	)	$	(5,481	)

(a) All amounts are net of tax. Amounts in parentheses indicate debits to AOCI.

The following table presents changes in AOCI for the three-month period ended June 30, 2017:

In millions	Defined Benefit Pension and Postretirement Items (a)			Change in Cumulative Foreign Currency Translation Adjustments (a)			Net Gains and Losses on Cash Flow Hedging Derivatives (a)			Total (a)
Balance, April 1, 2017	$	(3,016	)	$	(2,140	)	$	4		$	(5,152	)
Other comprehensive income (loss) before reclassifications	2			(14		)	(1		)	(13		)
Amounts reclassified from accumulated other comprehensive income	60			—			(2		)	58
Net Current Period Other Comprehensive Income (Loss)	62			(14		)	(3		)	45
Other Comprehensive Income (Loss) Attributable to Noncontrolling Interest	—			(1		)	—			(1		)
Balance, June 30, 2017	$	(2,954	)	$	(2,155	)	$	1		$	(5,108	)

(a) All amounts are net of tax. Amounts in parentheses indicate debits to AOCI.

The following table presents changes in AOCI for the six-month period ended June 30, 2017:

In millions	Defined Benefit Pension and Postretirement Items (a)			Change in Cumulative Foreign Currency Translation Adjustments (a)			Net Gains and Losses on Cash Flow Hedging Derivatives (a)			Total (a)
Balance, January 1, 2017	$	(3,072	)	$	(2,287	)	$	(3	)	$	(5,362	)
Other comprehensive income (loss) before reclassifications	1			134			8			143
Amounts reclassified from accumulated other comprehensive income	117			—			(4		)	113
Net Current Period Other Comprehensive Income	118			134			4			256
Other Comprehensive Income (Loss) Attributable to Noncontrolling Interest	—			(2		)	—			(2		)
Balance, June 30, 2017	$	(2,954	)	$	(2,155	)	$	1		$	(5,108	)

(a) All amounts are net of tax. Amounts in parentheses indicate debits to AOCI.

The following table presents changes in AOCI for the six-month period ended June 30, 2016:

In millions	Defined Benefit Pension and Postretirement Items (a)			Change in Cumulative Foreign Currency Translation Adjustments (a)			Net Gains and Losses on Cash Flow Hedging Derivatives (a)			Total (a)
Balance, January 1, 2016	$	(3,169	)	$	(2,549	)	$	10		$	(5,708	)
Other comprehensive income (loss) before reclassifications	(528		)	373			(10		)	(165		)
Amounts reclassified from accumulated other comprehensive income	399			(3		)	(4		)	392
Net Current Period Other Comprehensive Income	(129		)	370			(14		)	227
Other Comprehensive Income (Loss) Attributable to Noncontrolling Interest	—			—			—			—
Balance, June 30, 2016	$	(3,298	)	$	(2,179	)	$	(4	)	$	(5,481	)

(a) All amounts are net of tax. Amounts in parentheses indicate debits to AOCI.

Schedule of Notional Amounts of Financial Instruments [Table Text Block]

The notional amounts of qualifying and non-qualifying financial instruments used in hedging transactions were as follows:

In millions	June 30, 2017		December 31, 2016
Derivatives in Cash Flow Hedging Relationships:
Foreign exchange contracts (a)	$	342	$	275
Derivatives Not Designated as Hedging Instruments:
Electricity contract	1		6
Foreign exchange contracts	17		24

(a) These contracts had maturities of two years or less as of June 30, 2017.

Gains Or Losses Recognized In Accumulated Other Comprehensive Income (AOCI), Net Of Tax, Related To Derivative Instruments [Table Text Block]

The following table shows gains or losses recognized in AOCI, net of tax, related to derivative instruments:

	Gain (Loss) Recognized in AOCI on Derivatives (Effective Portion)
	Three Months Ended June 30,						Six Months Ended June 30,
In millions	2017			2016			2017		2016
Foreign exchange contracts	$	(1	)	$	(3	)	$	8	$	1
Interest rate contracts	—			(11		)	—		(11		)
Total	$	(1	)	$	(14	)	$	8	$	(10	)

Gains And Losses Recognized In Consolidated Statement Of Operations On Qualifying And Non-Qualifying Financial Instruments [Table Text Block]

The amounts of gains and losses recognized in the statement of operations on qualifying and non-qualifying financial instruments used in hedging transactions were as follows:

	Gain (Loss) Reclassified from AOCI (Effective Portion)								Location of Gain (Loss) Reclassified from AOCI (Effective Portion)
	Three Months Ended June 30,				Six Months Ended June 30,
In millions	2017		2016		2017		2016
Derivatives in Cash Flow Hedging Relationships:
Foreign exchange contracts	$	2	$	3	$	4	$	4	Cost of products sold
Total	$	2	$	3	$	4	$	4

	Gain (Loss) Recognized									Location of Gain (Loss) In  Statement of Operations
	Three Months Ended June 30,				Six Months Ended June 30,
In millions	2017		2016		2017			2016
Derivatives Not Designated as Hedging Instruments:
Electricity contract	$	—	$	2	$	(2	)	$	—	Cost of products sold
Foreign exchange contracts	—		1		—			1		Cost of products sold
Interest rate contracts	—		—		—			2		Interest expense, net
Total	$	—	$	3	$	(2	)	$	3

Schedule of Interest Rate Derivative Activity [Table Text Block]

The following activity is related to fully effective interest rate swaps designated as fair value hedges:

			2017						2016
In millions	Issued		Terminated		Undesignated		Issued		Terminated		Undesignated
Second Quarter	$	—	$	—	$	—	$	—	$	—	$	—
First Quarter	—		—		—		—		55		—
Total	$	—	$	—	$	—	$	—	$	55	$	—

Impact Of Derivative Instruments In Consolidated Balance Sheet [Table Text Block]

The following table provides a summary of the impact of our derivative instruments in the balance sheet:

Fair Value Measurements

Level 2 – Significant Other Observable Inputs

	Assets						Liabilities
In millions	June 30, 2017			December 31, 2016			June 30, 2017			December 31, 2016
Derivatives designated as hedging instruments
Foreign exchange contracts – cash flow	$	9	(a)	$	3	(b)	$	4	(c)	$	4	(c)
Total derivatives designated as hedging instruments	9			3			4			4
Derivatives not designated as hedging instruments
Electricity contract	—			—			1		(c)	2		(c)
Total derivatives not designated as hedging instruments	—			—			1			2
Total derivatives	$	9		$	3		$	5		$	6

(a) Includes $7 million recorded in Other current assets and $2 million recorded in Deferred charges and other assets in the accompanying balance sheet.

(b) Included in Other current assets in the accompanying balance sheet.

(c) Included in Other accrued liabilities in the accompanying balance sheet.