Derivative Financial Instruments and Risk Management (Tables)

6 Months Ended

Jun. 30, 2012

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Location and fair value of derivative instruments reported in the Consolidated Statements of Financial Position

(Millions of dollars)
		Asset (Liability) Fair Value
	Consolidated Statements of Financial Position Location	June 30, 2012			December 31, 2011
Designated derivatives
Interest rate contracts	Other assets	$	244		$	248
Interest rate contracts	Accrued expenses	(7		)	(6		)
		$	237		$	242
Undesignated derivatives
Foreign exchange contracts	Other assets	$	11		$	7
Foreign exchange contracts	Accrued expenses	(11		)	(16		)
Interest rate contracts	Accrued expenses	(2		)	(1		)
		$	(2	)	$	(10	)

Deferred gains (losses) recorded in AOCI on the Consolidated Statements of Changes in Stockholder's Equity

(Millions of dollars)
Balance as of December 31, 2011, net of tax of $3	$	(6	)
Gains (losses) deferred during the period, net of tax of $1	(1		)
(Gains) losses reclassified to earnings, net of tax of $1	1
Balance as of June 30, 2012, net of tax of $3	$	(6	)

(Millions of dollars)
Balance as of December 31, 2010, net of tax of $6	$	(14	)
Gains (losses) deferred during the period, net of tax of $-	(1		)
(Gains) losses reclassified to earnings, net of tax of $3	9
Balance as of June 30, 2011, net of tax of $3	$	(6	)

Schedule of effect of derivatives designated as fair value hedging instruments in the Consolidated Statements of Profit

Fair Value Hedges
(Millions of dollars)
		Three Months Ended June 30, 2012						Three Months Ended June 30, 2011
	Classification	Gains (Losses) on Derivatives			Gains (Losses) on Borrowings			Gains (Losses) on Derivatives			Gains  (Losses) on Borrowings
Interest rate contracts	Other income (expense)	$	6		$	(5	)	$	42		$	(40	)
		Six Months Ended June 30, 2012						Six Months Ended June 30, 2011
		Gains (Losses) on Derivatives			Gains (Losses) on Borrowings			Gains (Losses) on Derivatives			Gains  (Losses) on Borrowings
Interest rate contracts	Other income (expense)	$	(3	)	$	10		$	(11	)	$	12

Schedule of effect of derivatives designated as cash flow hedging instruments in the Consolidated Statements of Profit

Cash Flow Hedges
(Millions of dollars)
		Three Months Ended June 30, 2012
	Classification of Gains (Losses)	Reclassified from AOCI to Earnings (Effective Portion)			Recognized in Earnings (Ineffective Portion)
Interest rate contracts	Interest expense	$	(1	)	$	—
Interest rate contracts	Other income (expense)	—			(1		)
		$	(1	)	$	(1	)
		Three Months Ended June 30, 2011
	Classification of Gains (Losses)	Reclassified from AOCI to Earnings (Effective Portion)			Recognized in Earnings (Ineffective Portion)
Interest rate contracts	Interest expense	$	(6	)	$	—
Interest rate contracts	Other income (expense)	—			—
		$	(6	)	$	—
		Six Months Ended June 30, 2012
	Classification of Gains (Losses)	Reclassified from AOCI to Earnings (Effective Portion)			Recognized in Earnings (Ineffective Portion)
Interest rate contracts	Interest expense	$	(2	)	$	—
Interest rate contracts	Other income (expense)	—			(1		)
		$	(2	)	$	(1	)
		Six Months Ended June 30, 2011
	Classification of Gains (Losses)	Reclassified from AOCI to Earnings (Effective Portion)			Recognized in Earnings (Ineffective Portion)
Interest rate contracts	Interest expense	$	(12	)	$	—
Interest rate contracts	Other income (expense)	—			1
		$	(12	)	$	1

Effect of derivatives not designated as hedging instruments on the Consolidated Statements of Profit

Undesignated Derivatives
(Millions of dollars)		Three Months Ended June 30,
	Classification of Gains (Losses)	2012			2011
Foreign exchange contracts	Other income (expense)	$	(5	)	$	(2	)
Interest rate contracts	Other income (expense)	—			—
		$	(5	)	$	(2	)
		Six Months Ended June 30,
	Classification of Gains (Losses)	2012			2011
Foreign exchange contracts	Other income (expense)	$	2		$	(2	)
Interest rate contracts	Other income (expense)	—			—
		$	2		$	(2	)