Derivative Instruments and Hedging Activities (Tables)

6 Months Ended

Jun. 30, 2011

Derivative Instruments and Hedging Activities (Tables) [Abstract]

Fair values of derivative instruments recorded in Balance Sheet

The following table summarizes the fair values of derivative instruments recorded in our Condensed Consolidated Balance Sheet (in millions):

		June 30,		December 31,
Derivatives Designated as Hedging Instruments	Balance Sheet Location	2011		2010
Interest rate contracts	Current other assets	$	—	$	1
Interest rate contracts	Long-term other assets		50		37
Total derivative assets		$	50	$	38
Interest rate contracts	Current accrued liabilities	$	—	$	11
Electricity commodity contracts	Current accrued liabilities		2		1
Interest rate contracts	Long-term accrued liabilities		22		13
Foreign exchange contracts	Long-term accrued liabilities		17		3
Total derivative liabilities		$	41	$	28

Impact of changes in the fair value of interest rate swaps and the underlying hedged items on results of operations

Three Months		Statement of Operations	Gain (Loss) on		Gain (Loss) on
Ended June 30,		Classification	Swap		Fixed-Rate Debt
	2011	Interest expense	$	18	$	(18	)
	2010	Interest expense	$	13	$	(13	)

Six Months		Statement of Operations	Gain (Loss) on		Gain (Loss) on
Ended June 30,		Classification	Swap		Fixed-Rate Debt
	2011	Interest expense	$	12	$	(12	)
	2010	Interest expense	$	14	$	(14	)

Impact of periodic settlements of active swap agreements and the impact of terminated swap agreements on results of operations

The following table summarizes the impact of periodic settlements of active swap agreements and the impact of terminated swap agreements on our results of operations (in millions):

	Three Months				Six Months
	Ended June 30,				Ended June 30,
Decrease to Interest Expense Due to Hedge Accounting for Interest Rate Swaps	2011		2010		2011		2010
Periodic settlements of active swap agreements(a)	$	6	$	8	$	11	$	18
Terminated swap agreements		3		6		6		11
	$	9	$	14	$	17	$	29

(a) These amounts represent the net of our periodic variable-rate interest obligations and the swap counterparties’ fixed-rate interest obligations. Our variable-rate obligations are based on a spread from the three-month LIBOR.

Pretax impacts of our foreign currency cash flow derivatives on our comprehensive income and results of operations

						Derivative Gain or
		Derivative Gain or				(Loss) Reclassified
		(Loss) Recognized				from AOCI into
Three Months		in OCI			Statement of Operations	Income
Ended June 30,		(Effective Portion)			Classification	(Effective Portion)
	2011	$	(3	)	Other income (expense)	$	(2	)
	2010	$	17		Other income (expense)	$	17

						Derivative Gain or
		Derivative Gain or				(Loss) Reclassified
		(Loss) Recognized				from AOCI into
Six Months		in OCI			Statement of Operations	Income
Ended June 30,		(Effective Portion)			Classification	(Effective Portion)
	2011	$	(14	)	Other income (expense)	$	(12	)
	2010	$	5		Other income (expense)	$	5