Derivative contracts (Tables) (Finance and Financial Products [Member])

6 Months Ended

Jun. 30, 2013

Finance and Financial Products [Member]

A summary of derivative contracts of our finance and financial products businesses follows (in millions).


	June 30, 2013							December 31, 2012
	Assets ⁽³⁾		Liabilities		Notional Value			Assets⁽³⁾		Liabilities		Notional Value
Equity index put options	$	—	$	5,874	$	30,936	⁽¹⁾	$	—	$	7,502	$	33,357	⁽¹⁾
Credit default		14		348		10,035	⁽²⁾		41		429		11,691	⁽²⁾
Other, principally interest rate and foreign currency		10		19					130		2

	$	24	$	6,241				$	171	$	7,933

⁽¹⁾

Represents the aggregate undiscounted amount payable at the contract expiration dates assuming that the value of each index is zero at the contract expiration date.

⁽²⁾

Represents the maximum undiscounted future value of losses payable under the contracts, if all underlying issuers default and the residual value of the specified obligations is zero.

⁽³⁾

Included in other assets of finance and financial products businesses.

Derivative gains/losses included in the Consolidated Statements of Earnings

Derivative gains/losses of our finance and financial products businesses included in our Consolidated Statements of Earnings were as follows (in millions).


	Second Quarter						First Six Months
	2013			2012			2013		2012
Equity index put options	$	390		$	(1,173	)	$	1,636	$	(484)
Credit default		99			171			85		511
Other, principally interest rate and foreign currency		(28	)		(66	)		(54)		(93)

	$	461		$	(1,068	)	$	1,667	$	(66)