XML 49 R23.htm IDEA: XBRL DOCUMENT v2.4.0.8
Derivatives (Tables)
 9 Months Ended
Sep. 30, 2013
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value [Table Text Block]
ly.

Hedge Position as of September 30, 2013
(in millions)
Notional Balance
Final Maturity Date
Prepaid Expenses and Other
Other Noncurrent Assets
Other Accrued Liabilities
Other Noncurrent Liabilities
Hedge Derivatives, Net
Designated as hedges
 
 
 
 
 
 
 
 
Interest rate contracts (cash flow hedges)
$
588

U.S. dollars
May 2019
$
—

$
—

$
(18
)
$
(30
)
$
(48
)
Interest rate contracts (fair value hedges)
$
445

U.S. dollars
August 2022
5

—

—

(23
)
(18
)
Foreign currency exchange contracts
128,713

Japanese yen
August 2016
118

76

—

(1
)
193

508

Canadian dollars
 
 
 
 
 
Not designated as hedges
 
 
 
 
 
 
 
 
Fuel contracts
4,110

gallons - crude oil, diesel and jet fuel
December 2014
487

10

(160
)
(4
)
333

Total derivative contracts
 
 
$
610

$
86

$
(178
)
$
(58
)
$
460


Hedge Position as of December 31, 2012
(in millions)
Notional Balance
Final Maturity Date
Prepaid Expenses and Other
Other Noncurrent Assets
Other Accrued Liabilities
Other Noncurrent Liabilities
Hedge Derivatives, Net
Designated as hedges
 
 
 
 
 
 
 
 
Interest rate contracts (cash flow hedges)
$
740

U.S. dollars
May 2019
$
—

$
—

$
(22
)
$
(48
)
$
(70
)
Interest rate contracts (fair value hedges)
$
469

U.S. dollars
August 2022
—

6

(2
)
—

4

Foreign currency exchange contracts
119,277

Japanese yen
December 2015
62

63

(1
)
(1
)
123

430

Canadian dollars
 
 
 
 
 
Not designated as hedges
 
 
 
 
 
 
 
 
Fuel contracts
1,792

gallons - heating oil, crude oil and jet fuel
December 2013
511

—

(262
)
—

249

Total derivative contracts
 
 
$
573

$
69

$
(287
)
$
(49
)
$
306


Offsetting Assets and Liabilities

We have master netting arrangements with all of our counterparties giving us the right of setoff. We have elected not to offset the fair value positions recorded on our Consolidated Balance Sheets. The following table shows the potential net fair value positions had we elected to offset.
(in millions)
Prepaid Expenses and Other
Other Noncurrent Assets
Other Accrued Liabilities
Other Noncurrent Liabilities
Hedge Derivatives, Net
September 30, 2013
 
 
 
 
 
Net derivative contracts
$
457

$
84

$
(28
)
$
(53
)
$
460

December 31, 2012
 
 
 
 
 
Net derivative contracts
$
320

$
69

$
(34
)
$
(49
)
$
306
Schedule of Derivative Instruments, Gain (Loss) in Statement of Financial Performance [Table Text Block]
Designated Hedge Gains (Losses)
For the three and nine months ended September 30, 2013 and 2012, gains (losses) related to our designated hedge contracts are as follows:
 
Effective Portion Reclassified from AOCI to Earnings
 
Effective Portion Recognized in Other Comprehensive Income
(in millions)
2013
2012
 
2013
2012
Three Months Ended September 30,
 
 
 
 
 
Foreign currency exchange contracts
$
55

$
(8
)
 
$
(70
)
$
(27
)
Nine Months Ended September 30,
 
 
 
 
 
Foreign currency exchange contracts
$
100

$
(21
)
 
$
70

$
56