Derivative Financial Instruments and Hedging Activities (Tables)

3 Months Ended

Mar. 31, 2012

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Income Effect of Derivative Instruments [Table Text Block]

The following table summarizes by hedge designation the pre-tax gains/(losses) recorded in Other comprehensive income/(loss) ("OCI"), reclassified from Accumulated other comprehensive income/(loss) ("AOCI") to income and/or recognized directly in income for the periods ended March 31 (in millions):

	First Quarter 2012									First Quarter 2011
	Gain/(Loss) Recorded in OCI			Gain/(Loss) Reclassified from AOCI to Income			Gain/(Loss) Recognized in Income			Gain/(Loss) Recorded in OCI		Gain/(Loss) Reclassified from AOCI to Income			Gain/(Loss) Recognized in Income
Automotive Sector
Cash flow hedges
Foreign currency exchange contracts	$	(147	)	$	(52	)	$	1		$	125	$	(6	)	$	—
Derivatives not designated as hedging instruments
Foreign currency exchange contracts - operating exposures							$	(27	)						$	9
Commodity contracts							71								15
Other – warrants							(4		)						—
Total							$	40							$	24
Financial Services Sector
Fair value hedges
Interest rate contracts
Net interest settlements and accruals excluded from the assessment of hedge effectiveness							$	41							$	66
Ineffectiveness (a)							1								(18		)
Total							$	42							$	48
Derivatives not designated as hedging instruments
Interest rate contracts							$	(4	)						$	(8	)
Foreign currency exchange contracts							(48		)						12
Cross-currency interest rate swap contracts							(48		)						(14		)
Other (b)							(38		)						—
Total							$	(138	)						$	(10	)

 __________

(a) For first quarter 2012 and 2011, hedge ineffectiveness reflects change in fair value on derivatives of $80 million loss and $88 million loss, respectively, and change in fair value on hedged debt of $81 million gain and $70 million gain, respectively.

(b) Reflects gains/(losses) for derivative features included in the FUEL Notes (see Note 3).

Balance Sheet Effect of Derivative Instruments [Table Text Block]

The following table summarizes the notional amount and estimated fair value of our derivative financial instruments (in millions):

	March 31, 2012
	Notionals		Fair Value of Assets		Fair Value of Liabilities
Automotive Sector
Cash flow hedges
Foreign currency exchange contracts	$	15,035	$	50	$	362
Derivatives not designated as hedging instruments
Foreign currency exchange contracts	7,950		65		75
Commodity contracts	2,386		14		226
Other – warrants	12		—		—
Total derivatives not designated as hedging instruments	10,348		79		301
Total Automotive sector derivative financial instruments	$	25,383	$	129	$	663
Financial Services Sector
Fair value hedges
Interest rate contracts	$	10,516	$	457	$	34
Derivatives not designated as hedging instruments
Interest rate contracts	66,095		712		267
Foreign currency exchange contracts	3,423		2		43
Cross-currency interest rate swap contracts	1,379		—		46
Other (a)	2,500		99		—
Total derivatives not designated as hedging instruments	73,397		813		356
Total Financial Services sector derivative financial instruments	$	83,913	$	1,270	$	390

 __________

(a) Represents derivative features included in the FUEL Notes (see Note 3).

NOTE 12.  DERIVATIVE FINANCIAL INSTRUMENTS AND HEDGING ACTIVITIES (Continued)

	December 31, 2011
	Notionals		Fair Value of Assets		Fair Value of Liabilities
Automotive Sector
Cash flow hedges
Foreign currency exchange contracts	$	14,535	$	120	$	368
Derivatives not designated as hedging instruments
Foreign currency exchange contracts	5,692		92		80
Commodity contracts	2,396		2		372
Other – warrants	12		4		—
Total derivatives not designated as hedging instruments	8,100		98		452
Total Automotive sector derivative financial instruments	$	22,635	$	218	$	820
Financial Services Sector
Fair value hedges
Interest rate contracts	$	7,786	$	526	$	—
Derivatives not designated as hedging instruments
Interest rate contracts	70,639		670		237
Foreign currency exchange contracts	3,582		30		50
Cross-currency interest rate swap contracts	987		12		12
Other (a)	2,500		137		—
Total derivatives not designated as hedging instruments	77,708		849		299
Total Financial Services sector derivative financial instruments	$	85,494	$	1,375	$	299

 __________

(a) Represents derivative features included in the FUEL Notes (see Note 3).