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

6 Months Ended

Jun. 30, 2015

A summary of those liabilities and related notional values follows (in millions).


	June 30, 2015							December 31, 2014

	Liabilities			Notional Value				Liabilities			Notional Value

Equity index put options		$	3,387		$	28,367	⁽¹⁾		$	4,560		$	29,469	⁽¹⁾
Credit default			279			7,792	⁽²⁾			250			7,792	⁽²⁾

		$	3,666						$	4,810

⁽¹⁾

Represents the aggregate undiscounted amounts payable assuming that the value of each index is zero at each contract’s expiration date. Certain of these contracts are denominated in foreign currencies. Notional amounts are based on the foreign currency exchange rates as of each balance sheet date.

⁽²⁾

Represents the aggregate undiscounted amounts payable under the contracts assuming all underlying issuers default and the residual value of the specified obligations is zero.

Derivative gains/losses included in the Consolidated Statements of Earnings

A summary of the derivative gains/losses included in our Consolidated Statements of Earnings for the second quarter and first six months of 2015 and 2014 follows (in millions).


	Second Quarter					First Six Months
	2015			2014		2015			2014
Equity index put options	$	(138	)	$	65	$	1,173		$	(67	)
Credit default		(36	)		84		(29	)		457
Other, principally interest rate and foreign currency		—			6		—			1

	$	(174	)	$	155	$	1,144		$	391