Fair Value Measurements (Tables)

12 Months Ended

Dec. 31, 2012

Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]

Schedule of Fair Value Measurements, Nonrecurring

Assets measured at fair value on a nonrecurring basis during the years ended December 31, 2012 are set forth in the table below:



	December 31, 2012
	Level 3		Recognized
Category	Asset		Loss
	(in millions)
Property, plant and equipment	$	109	$	59
Intangible assets	232		52
Goodwill	—		14
Other assets	—		4

Investment Segment [Member]

Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]

Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis

Investment

The following table summarizes the valuation of the Investment Funds' investments and derivative contracts by the above fair value hierarchy levels as of December 31, 2012 and 2011:



	December 31, 2012								December 31, 2011
	Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3		Total
Assets	(in millions)
Investments:
Equity securities:
Basic materials	$	144	$	9	$	—	$	153	$	128	$	—	$	—	$	128
Communications	560		16		—		576		2,593		—		—		2,593
Consumer, non-cyclical	1,340		—		—		1,340		1,778		26		—		1,804
Consumer, cyclical	261		—		—		261		376		378		—		754
Energy	1,052		55		—		1,107		1,644		29		—		1,673
Financial	244		—		—		244		263		—		—		263
Funds	—		308		—		308		—		—		—		—
Industrial	—		—		—		—		—		32		—		32
Technology	325		—		—		325		254		—		—		254
Utilities	208		—		—		208		83		21		—		104
	4,134		388		—		4,522		7,119		486		—		7,605
Corporate debt:
Communications	—		—		—		—		—		84		—		84
Consumer, cyclical	—		—		288		288		—		150		289		439
Financial	—		50		—		50		—		109		—		109
Sovereign debt	—		5		—		5		—		10		—		10
Utilities	—		31		—		31		—		34		—		34
	—		86		288		374		—		387		289		676
Mortgage-backed securities:
Financial	—		188		—		188		—		167		—		167
	4,134		662		288		5,084		7,119		1,040		289		8,448
Derivative contracts, at fair value⁽¹⁾	—		—		—		—		—		3		—		3
	$	4,134	$	662	$	288	$	5,084	$	7,119	$	1,043	$	289	$	8,451
Liabilities
Securities sold, not yet purchased, at fair value:
Equity securities:
Consumer, cyclical	$	473	$	—	$	—	$	473	$	—	$	—	$	—	$	—
Energy	—		—		—		—		—		—		—		—
Funds	—		60		—		60		4,466		10		—		4,476
	473		60		—		533		4,466		10		—		4,476
Derivative contracts, at fair value⁽²⁾	—		84		—		84		—		42		—		42
	$	473	$	144	$	—	$	617	$	4,466	$	52	$	—	$	4,518


⁽¹⁾	Included in other assets in our consolidated balance sheets.


⁽²⁾	Included in accrued expenses and other liabilities in our consolidated balance sheets.

Schedule of investments measured at fair value with Level 3 Input

The changes in investments measured at fair value for which our Investment segment has used Level 3 input to determine fair value are as follows:



	Year Ended December 31,
	2012			2011
	(in millions)
Balance at January 1	$	289		$	329
Gross realized and unrealized gains	4			8
Gross proceeds	(5		)	(48		)
Balance at December 31	$	288		$	289

Other Segments and Holding Company [Member]

Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]

Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis

Other Segments and Holding Company

The following table summarizes the valuation of our Automotive and Energy segments and our Holding Company investments and derivative contracts by the above fair value hierarchy levels as of December 31, 2012 and 2011:



	December 31, 2012								December 31, 2011
	Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3		Total
Assets	(in millions)
Marketable equity and debt securities	$	1	$	—	$	—	$	1	$	20	$	—	$	—	$	20
Trading securities	—		—		60		60		—		—		—		—
Investments in precious metals	—		—		—		—		150		—		—		150
Derivative contracts, at fair value⁽¹⁾	—		1		21		22		—		3		—		3
	$	1	$	1	$	81	$	83	$	170	$	3	$	—	$	173
Liabilities
Derivative contracts, at fair value⁽²⁾	$	—	$	89	$	—	$	89	$	—	$	57	$	—	$	57


⁽¹⁾	Amounts are classified within other assets in our consolidated balance sheets.


⁽²⁾	Amounts are classified within accrued expenses and other liabilities in our consolidated balance sheets.

Holding Company [Member]

Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]

Schedule of investments measured at fair value with Level 3 Input

The changes in trading securities measured at fair value for which our Holding Company have used Level 3 input to determine fair value are as follows:



	Year Ended December 31,
	2012		2011
	(in millions)
Balance at January 1	$	—	$	—
Transfer in	81		—
Gross realized and unrealized gains	—		—
Balance at December 31	$	81	$	—

Automotive Segment [Member]

Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]

Schedule of fair value of defined benefit plan asset [Table Text Block]

The following table presents our Automotive segment's defined benefit plan assets measured at fair value on a recurring basis as of December 31, 2012 and 2011:



	December 31, 2012								December 31, 2011
	Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3		Total
	(in millions)
U.S. Plans:
Cash	$	34	$	—	$	—	$	34	$	—	$	—	$	—	$	—
Amounts due from broker	—		—		—		—		669		—		—		669
Investments with registered investment companies:
Equity securities	257		—		—		257		1		—		—		1
Fixed income securities	143		—		—		143		—		—		—		—
Real estate and other	4		—		—		4		—		—		—		—
Equity securities	217		—		—		217		—		—		—		—
Fixed income collective trust	—		45		—		45		—		—		—		—
Debt securities:
Corporate and other	—		37		—		37		—		—		—		—
Government	—		27		—		27		—		—		—		—
Hedge funds	—		—		14		14		—		—		—		—
	$	655	$	109	$	14	$	778	$	670	$	—	$	—	$	670
Non-U.S. Plans:
Insurance contracts	$	—	$	—	$	42	$	42	$	—	$	—	$	35	$	35
Cash	—		—		—		—		1		—		—		1
Investments with registered investment companies:
Fixed income securities	10		—		—		10		9		—		—		9
Equity securities	1		—		—		1		1		—		—		1
Corporate bonds	—		2		—		2		—		2		—		2
	$	11	$	2	$	42	$	55	$	11	$	2	$	35	$	48

Schedule of Level Three Defined Benefit Plan Assets Roll Forward [Table Text Block]

The changes in U.S. and Non-U.S. plan assets measured at fair value for which our Automotive segment has used Level 3 input to determine fair value are as follows:



	Year Ended December 31,
	2012		2011
	(in millions)
U.S. Plans:
Hedge funds:
Balance at January 1	$	—	$	—
Realized/unrealized gains (losses), net	2		—
Purchases and settlements, net	12		—
Balance at December 31	$	14	$	—



	Year Ended December 31,
	2012			2011
	(in millions)
Non-U.S. Plans:
Insurance contracts:
Balance at January 1	$	35		$	33
Realized/unrealized gains (losses), net	1			2
Purchases and settlements, net	7			4
Sales, net	(2		)	(3		)
Foreign currency exchange rate movements	1			(1		)
Balance at December 31	$	42		$	35

Railcar and Food Packaging [Member]

Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]

Schedule of fair value of defined benefit plan asset [Table Text Block]

The following table presents our Food Packaging and Railcar segment's defined benefit plan assets measured at fair value on a recurring basis as of December 31, 2012 and 2011:



	December 31, 2012								December 31, 2011
	Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3		Total
	(in millions)
U.S. and Non-U.S. Plans:
Asset category:
Cash equivalents	$	7	$	—	$	—	$	7	$	4	$	—	$	—	$	4
Equity securities	23		29		—		52		18		33		—		51
Fixed income securities	14		15		—		29		18		14		—		32
Other	—		1		30		31		—		—		27		27
	$	44	$	45	$	30	$	119	$	40	$	47	$	27	$	114

Schedule of Level Three Defined Benefit Plan Assets Roll Forward [Table Text Block]

The changes in U.S. and Non-U.S. plan assets measured at fair value for which our Food Packaging and Railcar segment's have used Level 3 input to determine fair value are as follows:



	Year Ended December 31,
	2012		2011
	(in millions)
U.S. and Non-U.S. Plans:
Balance at January 1	$	27	$	28
Realized/unrealized gains (losses), net	3		(1		)
Purchases and settlements, net	—		—
Balance at December 31	$	30	$	27

- Definition

Tabular disclosure of assets and liabilities by class, including financial instruments measured at fair value that are classified in shareholders' equity, if any, that are measured at fair value on a nonrecurring basis in periods after initial recognition (for example, impaired assets). Disclosures may include, but are not limited to: (a) the fair value measurements recorded and the reasons for the measurements and (b) the level within the fair value hierarchy in which the fair value measurements are categorized in their entirety (levels 1, 2, 3).

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- Definition

Tabular disclosure of the fair value measurement of assets using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes during the period attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets) and gains or losses recognized in other comprehensive income (loss), and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs), by class of asset.

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