XML 21 R29.htm IDEA: XBRL DOCUMENT v2.4.0.6
Fair Value Information (Fair Value Of Financial Instruments) (Details) (USD $)
In Millions, unless otherwise specified
9 Months Ended 12 Months Ended
Sep. 30, 2012
Dec. 31, 2011
Cash equivalents maturity date 90 days or less 90 days or less
Time deposits maturity date more than 90 days but less than one year more than 90 days but less than one year
Long-term debt, current maturities $ 721 $ 619
Fair Value, Inputs, Level 1 [Member] | Carrying (Reported) Amount, Fair Value Disclosure [Member]
   
Cash and cash equivalents 1,249 [1] 764 [1]
Time deposits 81 [2] 95 [2]
Fair Value, Inputs, Level 1 [Member] | Estimated Fair Value, Fair Value Disclosure [Member]
   
Cash and cash equivalents 1,249 [1] 764 [1]
Time deposits 81 [2] 95 [2]
Fair Value, Inputs, Level 2 [Member] | Carrying (Reported) Amount, Fair Value Disclosure [Member]
   
Short Term Debt 553 [3] 87 [3]
Long-term debt 5,454 [4] 5,648 [4]
Fair Value, Inputs, Level 2 [Member] | Estimated Fair Value, Fair Value Disclosure [Member]
   
Short-term Debt 553 [3] 87 [3]
Long-term debt 6,596 [4] 6,671 [4]
Fair Value, Inputs, Level 3 [Member] | Carrying (Reported) Amount, Fair Value Disclosure [Member]
   
Notes receivable 395 [5] 394 [5]
Monetization loan 397 [5] 397 [5]
Redeemable preferred securities of subsidiaries 506 [5] 506 [5]
Redeemable common securities of subsidiaries 41 [6] 41 [6]
Fair Value, Inputs, Level 3 [Member] | Estimated Fair Value, Fair Value Disclosure [Member]
   
Notes receivable 386 [5] 373 [5]
Monetization loan 398 [5] 386 [5]
Redeemable preferred securities of subsidiaries 553 [5] 568 [5]
Redeemable common securities of subsidiaries $ 41 [6] $ 41 [6]
[1] Cash equivalents are comprised of certificates of deposit, time deposits and other interest-bearing investments with original maturity dates of 90 days or less. Cash equivalents are recorded at cost, which approximates fair value.
[2] Time deposits, included in Other current assets on the Condensed Consolidated Balance Sheet, are comprised of deposits with original maturities of more than 90 days but less than one year. Time deposits are recorded at cost, which approximates fair value.
[3] Short-term debt is comprised of U.S. commercial paper and other similar short-term debt issued by non-U.S. subsidiaries, all of which are recorded at cost, which approximates fair value.
[4] Long-term debt excludes the monetization loan and includes the current portion ($721 million and $619 million at September 30, 2012 and December 31, 2011, respectively) of these debt instruments. Fair values were estimated based on quoted prices for financial instruments for which all significant inputs were observable, either directly or indirectly.
[5] The note, monetization loan and redeemable preferred securities of subsidiary are not traded in active markets. Accordingly, their fair values were calculated using a floating rate pricing model that compared the stated spread to the fair value spread to determine the price at which each of the financial instruments should trade. The model used the following inputs to calculate fair values: face value, current LIBOR rate, unobservable fair value credit spread, stated spread, maturity date and interest payment dates. The difference between the carrying amount of the note and its fair value represents an unrealized loss position for which an other-than-temporary impairment has not been recognized in earnings because we have both the intent and ability to hold the note for a period of time sufficient to allow for an anticipated recovery of fair value to the carrying amount of the note.
[6] The fair value of the redeemable common securities of subsidiary was based on various inputs, including an independent third-party appraisal, adjusted for current market conditions.