Income Tax (Tables)

3 Months Ended

Jun. 30, 2011

Income Tax [Abstract]

Income Tax Disclosure Table

	(Stated in millions)
	Second Quarter				Six Months
	2011		2010		2011		2010
United States	$	559	$	83	$	924	$	144
Outside United States		939		910		1,812		1,738
	$	1,498	$	993	$	2,736	$	1,882

Components of Net Deferred Tax Assets

	(Stated in millions)
	Jun. 30,			Dec. 31,
	2011			2010
Postretirement benefits, net	$	339		$	327
Intangible assets		(1,453	)		(1,674	)
Investments in non-US subsidiaries		(339	)		(353	)
Other, net		155			115
	$	(1,298	)	$	(1,585	)

Components of Consolidated Income Taxes

	(Stated in millions)
	Second Quarter						Six Months
	2011			2010			2011			2010
Current:
United States — Federal	$	296		$	26		$	451		$	48
United States — State		(4	)		3			12			6
Outside United States		170			150			234			306
	$	462		$	179		$	697		$	360
Deferred:
United States — Federal	$	(96	)	$	(3	)	$	(125	)	$	39
United States — State		(14	)		—			(11	)		2
Outside United States		20			10			113			—
Valuation allowance		2			(9	)		(5	)		(10	)
	$	(88	)	$	(2	)	$	(28	)	$	31
Consolidated taxes on income	$	374		$	177		$	669		$	391

Reconciliation of the US Statutory Federal Tax Rate

	Second Quarter						Six Months
	2011			2010			2011			2010
US federal statutory rate		35	%		35	%		35	%		35	%
US state income taxes		(1	)		—			—			—
Non-US income taxed at different rates		(10	)		(14	)		(10	)		(14	)
Charges (See Note 2)		—			—			—			2
Other		1			(3	)		—			(2	)
Effective income tax rate		25	%		18	%		24	%		21	%