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Derivative Instruments and Fair Value Measurements (Tables)
3 Months Ended
Mar. 31, 2012
Derivative Instruments and Fair Value Measurements [Abstract]  
Fair value of derivative instruments designated as hedging instruments
                         
            Asset (Liability)  

(In millions)

  Borrowing Group   Balance Sheet Location   March 31,
2012
    December 31,
2011
 

Assets

                       

Interest rate exchange contracts*

  Finance   Other assets   $ 19     $ 22  

Foreign currency exchange contracts

  Manufacturing   Other current assets     13       9  
           

 

 

   

 

 

 

Total

          $ 32     $ 31  
           

 

 

   

 

 

 

Liabilities

                       

Interest rate exchange contracts*

  Finance   Other liabilities   $ (7   $ (7

Foreign currency exchange contracts

  Manufacturing   Accrued liabilities     (4     (5
           

 

 

   

 

 

 

Total

          $ (11   $ (12
           

 

 

   

 

 

 
Assets measured at fair value on a nonrecurring basis
                                 
          Gain (Loss)  
    Balance at     Three Months Ended  

(In millions)

  March 31,
2012
    April 2,
2011
    March 31,
2012
    April 2,
2011
 

Finance receivables held for sale

  $ 318     $ 237     $ 24     $ (11

Impaired finance receivables

    92       508       (6     (33

Repossessed assets and properties

    74       54       (16     (6
Carrying value and estimated fair values of financial instruments
                                 
    March 31, 2012     December 31, 2011  

(In millions)

  Carrying
Value
    Estimated
Fair Value
    Carrying
Value
    Estimated
Fair Value
 

Manufacturing group

                               

Long-term debt, excluding leases

  $ (2,348   $ (2,757   $ (2,328   $ (2,561

Finance group

                               

Finance receivables held for investment, excluding leases

    1,890       1,819       1,997       1,848  

Debt

    (1,837     (1,778     (1,974     (1,854