Fair Value Measurements (Tables)

6 Months Ended

Jun. 30, 2012

Fair Value Disclosures [Abstract]

Assets and liabilities measured at fair value

(Millions of dollars)
	June 30, 2012
	Level 1		Level 2		Level 3		Total Assets/Liabilities, at Fair Value
Assets
Derivative financial instruments, net	$	—	$	235	$	—	$	235
Total Assets	$	—	$	235	$	—	$	235
Liabilities
Guarantees	$	—	$	—	$	2	$	2
Total Liabilities	$	—	$	—	$	2	$	2
	December 31, 2011
	Level 1		Level 2		Level 3		Total Assets/Liabilities, at Fair Value
Assets
Derivative financial instruments, net	$	—	$	232	$	—	$	232
Total Assets	$	—	$	232	$	—	$	232
Liabilities
Guarantees	$	—	$	—	$	2	$	2
Total Liabilities	$	—	$	—	$	2	$	2

Roll-forwards of assets and liabilities measured at fair value using Level 3 inputs

(Millions of dollars)	Guarantees
Balance as of December 31, 2011	$	2
Issuance of guarantees	1
Expiration of guarantees	(1		)
Balance as of June 30, 2012	$	2

(Millions of dollars)	Guarantees
Balance as of December 31, 2010	$	3
Issuance of guarantees	1
Expiration of guarantees	(2		)
Balance as of June 30, 2011	$	2

Fair values of financial instruments

(Millions of dollars)	June 30, 2012						December 31, 2011
	Carrying Amount			Fair Value			Carrying Amount			Fair Value			Fair Value Levels	Reference
Cash and cash equivalents	$	2,210		$	2,210		$	1,176		$	1,176		1
Foreign currency contracts:
In a receivable position	$	11		$	11		$	7		$	7		2	Note 5
In a payable position	$	(11	)	$	(11	)	$	(16	)	$	(16	)	2	Note 5
Finance receivables, net (excluding finance leases(1))	$	18,710		$	18,574		$	17,431		$	17,172		2	Note 4
Restricted cash and cash equivalents(2)	$	27		$	27		$	64		$	64		1
Short-term borrowings	$	(4,455	)	$	(4,455	)	$	(3,895	)	$	(3,895	)	1
Long-term debt	$	(23,831	)	$	(24,859	)	$	(21,631	)	$	(22,674	)	2
Interest rate swaps:
In a net receivable position	$	244		$	244		$	248		$	248		2	Note 5
In a net payable position	$	(9	)	$	(9	)	$	(7	)	$	(7	)	2	Note 5
Guarantees	$	(2	)	$	(2	)	$	(2	)	$	(2	)	3	Note 7

⁽¹⁾As of June 30, 2012 and December 31, 2011, represents finance leases with a net carrying value of $7,613 million and $7,325 million, respectively.

⁽²⁾Included in Other assets in the Consolidated Statements of Financial Position.