Derivative Instuments and Hedging Activities (Tables)

3 Months Ended

Sep. 30, 2012

Sep. 30, 2011

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Fair Value Of Derivatives Not Designated As Hedging Instruments

	September 30, 2012				June 30, 2012
	Assets		Liabilities		Assets		Liabilities
	(In millions)				(In millions)
FX Contracts	$	222	$	244	$	219	$	291
Interest Contracts		1		-		-		-
Commodity Contracts		3,370		2,901		2,843		2,704
Other Contracts		-		3		1		-
Total	$	3,593	$	3,148	$	3,063	$	2,995

Pre-Tax Gains (Losses) On Derivatives Not Designated As Hedging Instruments

	Three months ended September 30,
	2012		2011
	(In millions)
Interest Contracts
Interest expense	$	0	$	0
FX Contracts
Net sales and other operating income	$	51	$	16
Cost of products sold		4		(134)
Other income (expense) - net		(76)		(6)
Commodity Contracts
Cost of products sold	$	(436)	$	620
Other Contracts
Other income (expense) - net	$	(4)	$	-
Total gain (loss) recognized in earnings	$	(461)	$	496

Fair Value Of Derivatives Designated As Hedging Instruments

	September 30, 2012				June 30, 2012
	Assets		Liabilities		Assets		Liabilities
	(In millions)				(In millions)
Commodity Contracts	$	2	$	1	$	-	$	-
Total	$	2	$	1	$	-	$	-

Pre-Tax Gains (Losses) On Derivatives Designated As Hedging Instruments

		Three months ended
	Consolidated Statement of	September 30,
	Earnings Locations	2012		2011
		(In millions)
Effective amounts recognized in earnings
FX Contracts	Other income/expense – net		$        (1)	$	0
Interest Contracts	Interest expense		0		0
Commodity Contracts	Cost of products sold		89		0
	Net sales and other operating income		0		2
Ineffective amount recognized in earnings	Cost of products sold		(18)		(1)
Total amount recognized in earnings			$        70	$	1

Schedule of changes in accumulated other comprehensive income related to derivative gains losses

	Three months ended
	September 30, 2012
	(In millions)
Balance at June 30, 2012	$	50
Unrealized gains		142
Gains reclassified to earnings		(88)
Tax effect		(18)
Balance at September 30, 2012	$	86

	Three months ended
	September 30, 2011
	(In millions)
Balance at June 30, 2011	$	29
Unrealized gains		6
Gains reclassified to earnings		(3)
Tax effect		(2)
Balance at September 30, 2011	$	30