Fair Value Measurements (Tables)

9 Months Ended

Sep. 30, 2014

Fair Value Measurements

Fair Value, Assets and Liabilities Measured on Recurring Basis

						Fair Value Measurements
(Millions)				Fair Value at		Using Inputs Considered as
Description				September 30, 2014		Level 1		Level 2		Level 3
Assets:
Available-for-sale:
	Marketable securities:
		U.S. government agency securities		$	148	$	―	$	148	$	―
		Foreign government agency securities			105		―		105		―
		Corporate debt securities			789		―		789		―
		Certificates of deposit/time deposits			43		―		43		―
		Commercial paper			14		―		14		―
		Asset-backed securities:
			Automobile loan related		383		―		383		―
			Credit card related		192		―		192		―
			Equipment lease related		72		―		72		―
			Other		65		―		65		―
		U.S. treasury securities			49		49		―		―
		Auction rate securities			12		―		―		12
	Investments				1		1		―		―
Derivative instruments — assets:
	Foreign currency forward/option contracts				175		175		―		―
	Interest rate swap contracts				23		―		23		―
Liabilities:
Derivative instruments — liabilities:
	Foreign currency forward/option contracts				50		50		―		―
	Commodity price swap contracts				3		3		―		―
	Interest rate swap contracts				11		―		11		―

				Fair Value at		Fair Value Measurements
(Millions)				December 31, 2013		Using Inputs Considered as
Description							Level 1		Level 2		Level 3
Assets:
Available-for-sale:
	Marketable securities:
		U.S. government agency securities		$	234	$	―	$	234	$	―
		Foreign government agency securities			125		―		125		―
		Corporate debt securities			781		―		781		―
		Certificates of deposit/time deposits			40		―		40		―
		Commercial paper			60		―		60		―
		Asset-backed securities:
			Automobile loan related		585		―		585		―
			Credit card related		180		―		180		―
			Equipment lease related		67		―		67		―
			Other		75		―		75		―
		U.S. treasury securities			49		49		―		―
		U.S. municipal securities			2		―		2		―
		Auction rate securities			11		―		―		11
	Investments				2		2		―		―
Derivative instruments — assets:
	Foreign currency forward/option contracts				75		75		―		―
	Commodity price swap contracts				1		1		―		―
	Interest rate swap contracts				8		―		8		―
Liabilities:
Derivative instruments — liabilities:
	Foreign currency forward/option contracts				103		103		―		―
	Interest rate swap contracts				7		―		7		―

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

		Three months ended				Nine months ended
(Millions)		September 30,				September 30,
Marketable securities – auction rate securities only		2014		2013		2014		2013
Beginning balance		$	12	$	10	$	11	$	7
Total gains or losses:
	Included in earnings		―		―		―		―
	Included in other comprehensive income		―		―		1		3
Purchases, issuances, and settlements			―		―		―		―
Transfers in and/or out of Level 3			―		―		―		―
Ending balance			12		10		12		10
Change in unrealized gains or losses for the period included in
	earnings for securities held at the end of the reporting period		―		―		―		―

Fair Value of Financial Instruments by Balance Sheet Grouping

	September 30, 2014					December 31, 2013
	Carrying		Fair		Carrying		Fair
(Millions)	Value		Value		Value		Value
Eurobond securities (repaid July 2014)	$	―	$	―	$	1,424	$	1,447
Long-term debt, excluding current portion		5,225		5,545		4,326		4,463