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Derivative Instruments and Hedging Activities (Tables)

3 Months Ended

Mar. 31, 2012

Derivative Instruments and Hedging Activities [Abstract]

Schedule of Derivative Instruments in Statement of Financial Position, Fair Value


		(Stated in millions)
		Fair Value of Derivatives								*Consolidated Balance Sheet* Classification
		Mar. 31, 2012				Dec. 31, 2011
Derivative Assets
Derivatives designated as hedges:
Foreign exchange contracts		$	9			$	2			Other current assets
Foreign exchange contracts			39				4			Other Assets
Interest rate swaps			8				9			Other Assets

		$	56			$	15

Derivatives not designated as hedges:
Foreign exchange contracts		$	6			$	8			Other current assets
Foreign exchange contracts			7				9			Other Assets

		$	13			$	17

		$	69			$	32

Derivative Liabilities
Derivatives designated as hedges:
Foreign exchange contracts		$	13			$	47			Accounts payable and accrued liabilities
Foreign exchange contracts			65				130			Other Liabilities

		$	78			$	177

Derivatives not designated as hedges:
Foreign exchange contracts		$	5			$	9			Accounts payable and accrued liabilities
Commodity contacts			—				3			Accounts payable and accrued liabilities

		$	5			$	12

		$	83			$	189

Schedule of Derivative Instruments, Gain (Loss) in Statement of Financial Performance


		(Stated in millions)
		Gain (Loss) Recognized in Income
		First Quarter								*Consolidated Statement* *of Income* Classification
		2012				2011
Derivatives designated as fair value hedges:
Foreign exchange contracts		$	—			$	2				Cost of revenue -Oilfield Services
Interest rate swaps			1				—				Interest expense

		$	1			$	2

Derivatives not designated as hedges:
Foreign exchange contracts		$	(27	)		$	(21	)			Cost of revenue -Oilfield Services
Commodity contracts			2				1				Cost of revenue -Oilfield Services

		$	(25	)		$	(20	)

Schedule of Derivative Instruments, Effect on Income and Other Comprehensive Income


		(Stated in millions)
		Gain (Loss) Reclassified from Accumulated OCI into Income
		First Quarter								*Consolidated Statement* *of Income* Classification
		2012				2011
Foreign exchange contracts		$	112			$	225			Cost of revenue -Oilfield Services
Foreign exchange contracts			(2	)			2			Research & engineering

		$	110			$	227


		(Stated in millions)
		Gain (Loss) Recognized in
		First Quarter
		2012				2011
Foreign exchange contracts		$	155			$	192

Tabular disclosure of the location and amount of gains and losses reported in the statement of financial performance, or when applicable, the statement of financial position. For example, (a) gains and losses recognized in the income statement on derivative instruments designated and qualifying as hedging instruments in fair value hedges and related hedged items designated and qualifying in fair value hedges and (b) gains and losses initially recognized in other comprehensive income on derivative instruments designated and qualifying as cash flow hedges.

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Tabular disclosure of the location and fair value amounts of derivative instruments (and nonderivative instruments that are designated and qualify as hedging instruments) reported in the statement of financial position.

+ References+ Details