SCHEDULE II - VALUATION AND QUALIFYING ACCOUNTS (CONSOLIDATED)

12 Months Ended

Dec. 31, 2012

SCHEDULE II - VALUATION AND QUALIFYING ACCOUNTS (CONSOLIDATED)

SCHEDULE II - VALUATION AND QUALIFYING ACCOUNTS (CONSOLIDATED)

SCHEDULE II—VALUATION AND QUALIFYING ACCOUNTS (CONSOLIDATED)

Years ended December 31, 2012, 2011, and 2010
(Millions of Dollars)

        Reserves deducted from assets in the balance sheets:

Allowances for losses and discounts on receivables

			Additions
	Balance at beginning of period		Charged to costs and expenses		Other			Deductions (Note 1)			Balance at end of period
2012	$	38	$	17	$	(5	)	$	(9	)	$	41
2011	$	40	$	8	$	(6	)	$	(4	)	$	38
2010	$	37	$	—	$	5		$	(2	)	$	40

(1)

Deductions from allowances for losses and discounts on receivables represent uncollectible notes and accounts written off.

Valuation allowance on net deferred tax assets

	Balance at beginning of period		Charged to income			Charged to other comprehensive income			Foreign currency translation			Other			Balance at end of period
2012	$	1,176	$	(7	)	$	(10	)	$	3		$	9		$	1,171
2011	$	1,077	$	15		$	89		$	(1	)	$	(4	)	$	1,176
2010	$	1,095	$	11		$	(47	)	$	(5	)	$	23		$	1,077