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Derivative Instruments and Hedging Activities (Tables)
 6 Months Ended
Jun. 30, 2013
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Fair Value Of Derivatives Not Designated As Hedging Instruments
The following table sets forth the fair value of derivatives not designated as hedging instruments as of June 30, 2013 and December 31, 2012.

 
June 30, 2013
 
December 31, 2012
 
Assets
 
Liabilities
 
Assets
 
Liabilities
 
(In millions)
 
(In millions)
 
 
 
 
 
 
 
 
FX Contracts
$
152

 
$
195

 
$
170

 
$
215

Interest Contracts
1

 
—

 
1

 
—

Commodity Contracts
2,255

 
2,240

 
2,504

 
2,376

Total
$
2,408

 
$
2,435

 
$
2,675

 
$
2,591
Pre-Tax Gains (Losses) On Derivatives Not Designated As Hedging Instruments
The following tables set forth the pre-tax gains (losses) on derivatives not designated as hedging instruments that have been included in the consolidated statements of earnings for the three and six months ended June 30, 2013 and 2012.

 
Three months ended June 30,
 
2013
 
2012
 
(In millions)
 
 
 
 
Interest Contracts
 
 
 
Interest expense
$
0

 
$
0

Other income (expense) – net
0

 
—

 
 
 
 
FX Contracts
 

 
 

Net sales and other operating income
$
36

 
$
75

Cost of products sold
(86
)
 
(169
)
Other income (expense) – net
(10
)
 
(93
)
 
 
 
 
Commodity Contracts
 

 
 

Cost of products sold
$
139

 
$
(291
)
 
 
 
 
Other Contracts
 
 
 
Other income (expense) - net
$
—

 
$
(1
)
Total gain (loss) recognized in earnings
$
79

 
$
(479
)

 
Six months ended June 30,
 
2013
 
2012
 
(In millions)
 
 
 
 
Interest Contracts
 
 
 
Interest expense
$
0

 
$
0

Other income (expense) – net
0

 
—

 
 
 
 
FX Contracts
 

 
 

Net sales and other operating income
$
109

 
$
84

Cost of products sold
(87
)
 
(139
)
Other income (expense) – net
(55
)
 
48

 
 
 
 
Commodity Contracts
 

 
 

Cost of products sold
$
207

 
$
(523
)
 
 
 
 
Other Contracts
 
 
 
Other income (expense) - net
$
—

 
$
(1
)
Total gain (loss) recognized in earnings
$
174

 
$
(531
)
Fair Value Of Derivatives Designated As Hedging Instruments
The following table sets forth the fair value of derivatives designated as hedging instruments as of June 30, 2013 and December 31, 2012.

 
June 30, 2013
 
December 31, 2012
 
Assets
 
Liabilities
 
Assets
 
Liabilities
 
(In millions)
 
(In millions)
Commodity Contracts
$
—

 
$
—

 
$
1

 
$
0

Total
$
—

 
$
—

 
$
1

 
$
0
Pre-Tax Gains (Losses) On Derivatives Designated As Hedging Instruments
The following tables set forth the pre-tax gains (losses) on derivatives designated as hedging instruments that have been included in the consolidated statements of earnings for the three and six months ended June 30, 2013 and 2012.
 
 
 
 
Three months ended
 
Consolidated Statement of
Earnings Locations
 
June 30,
 
 
2013
 
2012
 
 
 
(In millions)
Effective amounts recognized in earnings
 
 
 
 
 
FX Contracts
Other income/expense – net
 
$
0

 
$
0

Interest Contracts
Interest expense
 
0

 
0

Commodity Contracts
Cost of products sold
 
(3
)
 
(3
)
 
Net sales and other operating income
 
6

 
5

Ineffective amount recognized in earnings
 
 
 
 
 
Commodity Contracts
Cost of products sold
 
(13
)
 
37

Total amount recognized in earnings
 
 
$
(10
)
 
$
39



 
 
 
Six months ended
 
Consolidated Statement of
Earnings Locations
 
June 30,
 
 
2013
 
2012
 
 
 
(In millions)
Effective amounts recognized in earnings
 
 
 
 
 
FX Contracts
Other income/expense – net
 
$
0

 
$
0

Interest Contracts
Interest expense
 
0

 
1

Commodity Contracts
Cost of products sold
 
(5
)
 
(6
)
 
Net sales and other operating income
 
5

 
(5
)
Ineffective amount recognized in earnings
 
 
 
 
 
Commodity Contracts
Cost of products sold
 
(55
)
 
10

Total amount recognized in earnings
 
 
$
(55
)
 
$
—
Schedule Of Changes In Accumulated Other Comprehensive Income Related To Derivative Gains (Losses)
The following tables set forth the changes in AOCI related to derivatives gains (losses) for the three and six months ended June 30, 2013 and 2012.

 
Three months ended
 
June 30,
 
2013
 
2012
 
(In millions)
 
 
 
 
Balance at March 31, 2013 and 2012
$
11

 
$
4

Unrealized gains (losses)
(7
)
 
76

Losses (gains) reclassified to earnings
(3
)
 
(2
)
Tax effect
5

 
(28
)
Balance at June 30, 2013 and 2012
$
6

 
$
50


 
Six months ended
 
June 30,
 
2013
 
2012
 
(In millions)
 
 
 
 
Balance at December 31, 2012 and 2011
$
4

 
$
30

Unrealized gains (losses)
2

 
22

Losses (gains) reclassified to earnings
—

 
11

Tax effect
—

 
(13
)
Balance at June 30, 2013 and 2012
$
6

 
$
50