Derivative Instruments and Fair Value Measurements (Tables)

3 Months Ended

Mar. 31, 2012

Derivative Instruments and Fair Value Measurements [Abstract]

Schedule of Total Notional Amounts of the Company's Derivative Instruments [Table Text Block]

		March 31,		December 31,
(millions)		2012		2011
Foreign currency exchange contracts	$	1,140	$	1,265
Interest rate contracts		2,450		600
Commodity contracts		129		175
Total	$	3,719	$	2,040

Schedule of Assets and Liabilities Measured at Fair Value on a Recurring Basis [Table Text Block]

The following table presents assets and liabilities that were measured at fair value in the Consolidated Balance Sheet on a recurring basis as of March 31, 2012 and December 31, 2011:
			Level 1				Level 2				Total
Derivatives designated as hedging			March 31,		December 31,		March 31,		December 31,		March 31,		December 31,
instruments (millions)			2012		2011		2012		2011		2012		2011
Assets:
Foreign currency exchange contracts:
	Other prepaid assets	$	-	$	-	$	7	$	11	$	7	$	11
Interest rate contracts:
	Other assets		-		-		21		23		21		23
Commodity contracts:
	Other prepaid assets		-		2		-		-		-		2
Total assets		$	-	$	2	$	28	$	34	$	28	$	36
Liabilities:
Foreign currency exchange contracts:
	Other current liabilities	$	-	$	-	$	(3)	$	(18)	$	(3)	$	(18)
Interest rate contracts:
	Other liabilities		-		-		(9)		-		(9)		-
Commodity contracts:
	Other current liabilities		(3)		(4)		(13)		(12)		(16)		(16)
	Other liabilities		-		-		(35)		(34)		(35)		(34)
Total liabilities		$	(3)	$	(4)	$	(60)	$	(64)	$	(63)	$	(68)
The fair value of non designated hedging instruments as of March 31, 2012 and December 31, 2011 was immaterial.

Schedule of the Effect of Derivative Instruments on the Consolidated Statement of Income [Table Text Block]

The effect of derivative instruments on the Consolidated Statements of Income and Comprehensive Income for the quarters ended March 31, 2012 and April 2, 2011 was as follows:
										Location of gain		Gain (loss)
Derivatives in fair value hedging										(loss) recognized		recognized in
relationships (millions)										in income		income (a)
												March 31,		April 2,
												2012		2011
Foreign currency exchange contracts										Other income (expense), net	$	15	$	22
Interest rate contracts										Interest expense		1		-
Total											$	16	$	22
(a) Includes the ineffective portion and amount excluded from effectiveness testing.
					Location of gain		Gain (loss)			Location of gain		Gain (loss)
Derivatives in cash flow hedging		Gain (loss)			(loss) reclassified		reclassified from			(loss) recognized		recognized in
relationships (millions)		recognized in AOCI			from AOCI		AOCI into income			in income (a)		income (a)
		March 31,		April 2,			March 31,		April 2,			March 31,		April 2,
		2012		2011			2012		2011			2012		2011
Foreign currency exchange contracts	$	(2)	$	(2)	COGS	$	-	$	(2)	Other income (expense), net	$	-	$	(1)
Foreign currency exchange contracts		-		(1)	SGA expense		-		-	Other income (expense), net		-		-
Interest rate contracts		-		(1)	Interest expense		1		1	N/A		-		-
Commodity contracts		(6)		15	COGS		(5)		9	Other income (expense), net		-		-
Total	$	(8)	$	11		$	(4)	$	8		$	-	$	(1)
(a) Includes the ineffective portion and amount excluded from effectiveness testing.
During the next 12 months, the Company expects $12 million of net deferred losses reported in accumulated other comprehensive income (AOCI) at March 31, 2012 to be reclassified to income, assuming market rates remain constant through contract maturities.
Derivatives in net investment												Gain (loss)
hedging relationships (millions)												recognized in AOCI
												March 31,		April 2,
												2012		2011
Foreign currency exchange contracts											$	(6)	$	-
Total											$	(6)	$	-
										Location of gain		Gain (loss)
Derivatives not designated as hedging										(loss) recognized		recognized in
instruments (millions)										in income		income
												March 31,		April 2,
												2012		2011
Interest rate contracts										Interest expense		26		(3)
Total											$	26	$	(3)

Schedule of Fair Value of Long-term Debt [Table Text Block]

(millions)		Fair Value		Carrying Value
Current maturities of long-term debt	$	1,549	$	1,525
Long-term debt		4,822		4,254
Total	$	6,371	$	5,779