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Derivatives and Hedging (Tables)

6 Months Ended

Jun. 30, 2012

Notional and fair values of derivative instruments

	Notional Amount				Derivative Assets (1)				Derivative Liabilities (2)
(in millions)	June 30, 2012		December 31, 2011		June 30, 2012		December 31, 2011		June 30, 2012		December 31, 2011
Derivatives accounted for as hedges:
Interest rate contracts	$	361	$	702	$	18	$	16	$	—	$	—
Foreign exchange contracts	1,377		1,297		216		140		257		188
Total	1,738		1,999		234		156		257		188
Derivatives not accounted for as hedges:
Foreign exchange contracts	272		246		3		1		1		1
Total	$	2,010	$	2,245	$	237	$	157	$	258	$	189

(1) Included within Other current assets or Other non-current assets

(2) Included within Other current liabilities or Other non-current liabilities

Derivative gains (losses)

Gain (Loss) recognized in Accumulated	Three months ended June 30,						Six months ended June 30,
Other Comprehensive Loss:(in millions)	2012			2011			2012			2011
Cash Flow Hedges:
Interest rate contracts	$	—		$	—		$	—		$	(2	)
Foreign exchange contracts	(32		)	(22		)	(30		)	(21		)
Total	(32		)	(22		)	(30		)	(23		)

Foreign Net Investment Hedges:
Foreign exchange contracts	$	11		$	(4	)	$	1		$	(17	)

Gain (Loss) reclassified from Accumulated Other Comprehensive Loss into Income (Effective Portion):(in millions)

Cash Flow Hedges:
Interest rate contracts (1)	$	—		$	—		$	—		$	—
Foreign exchange contracts (2)	(8		)	(18		)	(16		)	(15		)
Total	(8		)	(18		)	(16		)	(15		)

Foreign Net Investment Hedges:
Foreign exchange contracts	$	—		$	—		$	—		$	—

(1) Included within Fiduciary investment income and Interest expense

(2) Included within Other income (expense) and Interest expense

	Three months ended June 30,						Six months ended June 30,
	Amount of Gain (Loss) Recognized in Income on Derivative (1)		Amount of Gain (Loss) Recognized in Income on Related Hedge Item (2)				Amount of Gain (Loss) Recognized in Income on Derivative (1)			Amount of Gain (Loss) Recognized in Income on Related Hedge Item (2)
(in millions)	2012	2011	2012		2011		2012	2011		2012		2011
Fair value hedges:
Foreign exchange contracts	1	5	(1	)	(4	)	3	(2	)	(3	)	4

(1) Relates to fixed rate debt

(2) Included in Interest expense

- Definition

Tabular disclosure of the location and amount of gains and losses reported in the statement of financial performance, or when applicable, the statement of financial position. For example, (a) gains and losses recognized in the income statement on derivative instruments designated and qualifying as hedging instruments in fair value hedges and related hedged items designated and qualifying in fair value hedges and (b) gains and losses initially recognized in other comprehensive income on derivative instruments designated and qualifying as cash flow hedges.

+ References+ Details