|
FINANCIAL INSTRUMENTS AND FAIR VALUE MEASUREMENTS (Details) (USD $)
In Millions, unless otherwise specified |
Mar. 31, 2012
|
Dec. 31, 2011
|
|---|---|---|
| Fair Value Measurements | ||
| Percentage of fair value of inputs considered unobservable inputs (Level 3), greater than | 10.00% | |
| ASSETS | ||
| Deferred purchase price receivable | $ 200 | $ 192 |
|
Assets and liabilities measured at fair value on a recurring basis | Level 1
|
||
| ASSETS | ||
| Other | 258 | 146 |
| Total assets | 360 | 237 |
| Liabilities | ||
| Total liabilities | 212 | 152 |
|
Assets and liabilities measured at fair value on a recurring basis | Level 1 | Undesignated derivative contracts | Commodities
|
||
| ASSETS | ||
| Unrealized gain on derivative contracts | 85 | 75 |
| Liabilities | ||
| Unrealized loss on derivative contracts | 203 | 147 |
|
Assets and liabilities measured at fair value on a recurring basis | Level 1 | Undesignated derivative contracts | Freight
|
||
| ASSETS | ||
| Unrealized gain on derivative contracts | 10 | 5 |
| Liabilities | ||
| Unrealized loss on derivative contracts | 2 | 1 |
|
Assets and liabilities measured at fair value on a recurring basis | Level 1 | Undesignated derivative contracts | Energy Derivatives
|
||
| ASSETS | ||
| Unrealized gain on derivative contracts | 7 | 11 |
| Liabilities | ||
| Unrealized loss on derivative contracts | 7 | 4 |
|
Assets and liabilities measured at fair value on a recurring basis | Level 2
|
||
| ASSETS | ||
| Readily marketable inventories | 3,945 | 3,736 |
| Deferred purchase price receivable | 200 | 192 |
| Other | 142 | 34 |
| Total assets | 5,217 | 5,025 |
| Liabilities | ||
| Total liabilities | 977 | 1,087 |
|
Assets and liabilities measured at fair value on a recurring basis | Level 2 | Designated derivative contracts | Foreign exchange
|
||
| ASSETS | ||
| Unrealized gain on derivative contracts | 2 | 13 |
| Liabilities | ||
| Unrealized loss on derivative contracts | 18 | 45 |
|
Assets and liabilities measured at fair value on a recurring basis | Level 2 | Undesignated derivative contracts | Interest rate
|
||
| Liabilities | ||
| Unrealized loss on derivative contracts | 1 | 2 |
|
Assets and liabilities measured at fair value on a recurring basis | Level 2 | Undesignated derivative contracts | Foreign exchange
|
||
| ASSETS | ||
| Unrealized gain on derivative contracts | 234 | 451 |
| Liabilities | ||
| Unrealized loss on derivative contracts | 387 | 617 |
|
Assets and liabilities measured at fair value on a recurring basis | Level 2 | Undesignated derivative contracts | Commodities
|
||
| ASSETS | ||
| Unrealized gain on derivative contracts | 687 | 586 |
| Liabilities | ||
| Unrealized loss on derivative contracts | 570 | 417 |
|
Assets and liabilities measured at fair value on a recurring basis | Level 2 | Undesignated derivative contracts | Energy Derivatives
|
||
| ASSETS | ||
| Unrealized gain on derivative contracts | 7 | 13 |
| Liabilities | ||
| Unrealized loss on derivative contracts | 1 | 6 |
|
Assets and liabilities measured at fair value on a recurring basis | Level 3
|
||
| ASSETS | ||
| Readily marketable inventories | 677 | 283 |
| Total assets | 845 | 412 |
| Liabilities | ||
| Total liabilities | 106 | 131 |
|
Assets and liabilities measured at fair value on a recurring basis | Level 3 | Undesignated derivative contracts | Foreign exchange
|
||
| ASSETS | ||
| Unrealized gain on derivative contracts | 1 | 1 |
|
Assets and liabilities measured at fair value on a recurring basis | Level 3 | Undesignated derivative contracts | Commodities
|
||
| ASSETS | ||
| Unrealized gain on derivative contracts | 164 | 125 |
| Liabilities | ||
| Unrealized loss on derivative contracts | 92 | 116 |
|
Assets and liabilities measured at fair value on a recurring basis | Level 3 | Undesignated derivative contracts | Freight
|
||
| ASSETS | ||
| Unrealized gain on derivative contracts | 1 | 1 |
|
Assets and liabilities measured at fair value on a recurring basis | Level 3 | Undesignated derivative contracts | Energy Derivatives
|
||
| ASSETS | ||
| Unrealized gain on derivative contracts | 2 | 2 |
| Liabilities | ||
| Unrealized loss on derivative contracts | 14 | 15 |
|
Assets and liabilities measured at fair value on a recurring basis | Fair Value
|
||
| ASSETS | ||
| Readily marketable inventories | 4,622 | 4,019 |
| Deferred purchase price receivable | 200 | 192 |
| Other | 400 | 180 |
| Total assets | 6,422 | 5,674 |
| Liabilities | ||
| Total liabilities | 1,295 | 1,370 |
|
Assets and liabilities measured at fair value on a recurring basis | Fair Value | Designated derivative contracts | Foreign exchange
|
||
| ASSETS | ||
| Unrealized gain on derivative contracts | 2 | 13 |
| Liabilities | ||
| Unrealized loss on derivative contracts | 18 | 45 |
|
Assets and liabilities measured at fair value on a recurring basis | Fair Value | Undesignated derivative contracts | Interest rate
|
||
| Liabilities | ||
| Unrealized loss on derivative contracts | 1 | 2 |
|
Assets and liabilities measured at fair value on a recurring basis | Fair Value | Undesignated derivative contracts | Foreign exchange
|
||
| ASSETS | ||
| Unrealized gain on derivative contracts | 235 | 452 |
| Liabilities | ||
| Unrealized loss on derivative contracts | 387 | 617 |
|
Assets and liabilities measured at fair value on a recurring basis | Fair Value | Undesignated derivative contracts | Commodities
|
||
| ASSETS | ||
| Unrealized gain on derivative contracts | 936 | 786 |
| Liabilities | ||
| Unrealized loss on derivative contracts | 865 | 680 |
|
Assets and liabilities measured at fair value on a recurring basis | Fair Value | Undesignated derivative contracts | Freight
|
||
| ASSETS | ||
| Unrealized gain on derivative contracts | 11 | 6 |
| Liabilities | ||
| Unrealized loss on derivative contracts | 2 | 1 |
|
Assets and liabilities measured at fair value on a recurring basis | Fair Value | Undesignated derivative contracts | Energy Derivatives
|
||
| ASSETS | ||
| Unrealized gain on derivative contracts | 16 | 26 |
| Liabilities | ||
| Unrealized loss on derivative contracts | $ 22 | $ 25 |