Fair Value Measurements (Tables)

6 Months Ended

Jun. 30, 2012

Fair Value Measurements

Fair Value, Assets and Liabilities Measured on Recurring Basis

						Fair Value Measurements
(Millions)				Fair Value at		Using Inputs Considered as
Description				Jun. 30, 2012		Level 1		Level 2		Level 3
Assets:
Available-for-sale:
	Marketable securities:
		U.S. government agency securities		$	588	$	―	$	588	$	―
		Foreign government agency securities			34		―		34		―
		Corporate debt securities			819		―		819		―
		Certificates of deposit/time deposits			36		―		36		―
		Commercial paper			254		―		254		―
		Asset-backed securities:
			Automobile loan related		612		―		612		―
			Credit card related		135		―		135		―
			Equipment lease related		65		―		65		―
			Other		1		―		1		―
		U.S. treasury securities			37		37		―		―
		U.S. municipal securities			41		―		41		―
		Auction rate securities			4		―		―		4
	Investments				3		3		―		―
Derivative instruments — assets:
	Foreign currency forward/option contracts				108		108		―		―
	Interest rate swap contracts				25		―		25		―
Liabilities:
Derivative instruments — liabilities:
	Foreign currency forward/option contracts				38		38		―		―
	Commodity price swap contracts				4		4		―		―

						Fair Value Measurements
(Millions)				Fair Value at		Using Inputs Considered as
Description				Dec. 31, 2011		Level 1		Level 2		Level 3
Assets:
Available-for-sale:
	Marketable securities:
		U.S. government agency securities		$	480	$	―	$	480	$	―
		Foreign government agency securities			23		―		23		―
		Corporate debt securities			668		―		668		―
		Certificates of deposit/time deposits			49		―		49		―
		Commercial paper			30		―		30		―
		Asset-backed securities:
			Automobile loan related		718		―		718		―
			Credit card related		268		―		268		―
			Equipment lease related		64		―		64		―
			Other		5		―		5		―
		U.S. treasury securities			34		34		―		―
		U.S. municipal securities			14		―		14		―
		Auction rate securities			4		―		―		4
	Investments				4		4		―		―
Derivative instruments — assets:
	Foreign currency forward/option contracts				107		98		9		―
	Interest rate swap contracts				28		―		28		―
Liabilities:
Derivative instruments — liabilities:
	Foreign currency forward/option contracts				42		42		―		―
	Commodity price swap contracts				7		7		―		―

Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation

		Three months ended				Six months ended
(Millions)		June 30,				June 30,
Marketable securities – auction rate securities only		2012		2011		2012		2011
Beginning balance		$	5	$	7	$	4	$	7
Total gains or losses:
	Included in earnings		―		―		―		―
	Included in other comprehensive income		(1)		1		―		1
Purchases, issuances, and settlements			―		―		―		―
Transfers in and/or out of Level 3			―		―		―		―
Ending balance (June 30)			4		8		4		8
Additional losses included in earnings due to reclassifications from
	other comprehensive income for:
	Securities sold during the period ended June 30		―		―		―		―
	Securities still held at June 30		―		―		―		―

Fair Value of Financial Instruments by Balance Sheet Grouping

	June 30, 2012					December 31, 2011
	Carrying		Fair		Carrying		Fair
(Millions)	Value		Value		Value		Value
Long-term debt, excluding current portion	$	5,657	$	6,182	$	4,484	$	5,002