|
FINANCIAL INSTRUMENTS AND FAIR VALUE MEASUREMENTS (Details) (USD $)
In Millions, unless otherwise specified |
Jun. 30, 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 | $ 156 | $ 192 |
|
Assets and liabilities measured at fair value on a recurring basis | Level 1
|
||
| Assets | ||
| Other | 248 | 146 |
| Total assets | 417 | 237 |
| Liabilities | ||
| Total liabilities | 230 | 152 |
|
Assets and liabilities measured at fair value on a recurring basis | Level 1 | Undesignated derivative contracts | Commodities
|
||
| Assets | ||
| Unrealized gain on derivative contracts | 157 | 75 |
| Liabilities | ||
| Unrealized loss on derivative contracts | 200 | 147 |
|
Assets and liabilities measured at fair value on a recurring basis | Level 1 | Undesignated derivative contracts | Freight
|
||
| Assets | ||
| Unrealized gain on derivative contracts | 5 | |
| Liabilities | ||
| Unrealized loss on derivative contracts | 1 | |
|
Assets and liabilities measured at fair value on a recurring basis | Level 1 | Undesignated derivative contracts | Energy
|
||
| Assets | ||
| Unrealized gain on derivative contracts | 12 | 11 |
| Liabilities | ||
| Unrealized loss on derivative contracts | 30 | 4 |
|
Assets and liabilities measured at fair value on a recurring basis | Level 2
|
||
| Assets | ||
| Readily marketable inventories | 4,028 | 3,736 |
| Deferred purchase price receivable | 156 | 192 |
| Other | 46 | 34 |
| Total assets | 5,348 | 5,025 |
| Liabilities | ||
| Total liabilities | 1,526 | 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 | 3 | 13 |
| Liabilities | ||
| Unrealized loss on derivative contracts | 32 | 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 | 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 | 262 | 451 |
| Liabilities | ||
| Unrealized loss on derivative contracts | 580 | 617 |
|
Assets and liabilities measured at fair value on a recurring basis | Level 2 | Undesignated derivative contracts | Commodities
|
||
| Assets | ||
| Unrealized gain on derivative contracts | 849 | 586 |
| Liabilities | ||
| Unrealized loss on derivative contracts | 914 | 417 |
|
Assets and liabilities measured at fair value on a recurring basis | Level 2 | Undesignated derivative contracts | Energy
|
||
| Assets | ||
| Unrealized gain on derivative contracts | 4 | 13 |
| Liabilities | ||
| Unrealized loss on derivative contracts | 6 | |
|
Assets and liabilities measured at fair value on a recurring basis | Level 3
|
||
| Assets | ||
| Readily marketable inventories | 1,820 | 283 |
| Total assets | 2,157 | 412 |
| Liabilities | ||
| Total liabilities | 150 | 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 | |
|
Assets and liabilities measured at fair value on a recurring basis | Level 3 | Undesignated derivative contracts | Commodities
|
||
| Assets | ||
| Unrealized gain on derivative contracts | 333 | 125 |
| Liabilities | ||
| Unrealized loss on derivative contracts | 142 | 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 | |
|
Assets and liabilities measured at fair value on a recurring basis | Level 3 | Undesignated derivative contracts | Energy
|
||
| Assets | ||
| Unrealized gain on derivative contracts | 4 | 2 |
| Liabilities | ||
| Unrealized loss on derivative contracts | 8 | 15 |
|
Assets and liabilities measured at fair value on a recurring basis | Fair Value
|
||
| Assets | ||
| Readily marketable inventories | 5,848 | 4,019 |
| Deferred purchase price receivable | 156 | 192 |
| Other | 294 | 180 |
| Total assets | 7,922 | 5,674 |
| Liabilities | ||
| Total liabilities | 1,906 | 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 | 3 | 13 |
| Liabilities | ||
| Unrealized loss on derivative contracts | 32 | 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 | 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 | 262 | 452 |
| Liabilities | ||
| Unrealized loss on derivative contracts | 580 | 617 |
|
Assets and liabilities measured at fair value on a recurring basis | Fair Value | Undesignated derivative contracts | Commodities
|
||
| Assets | ||
| Unrealized gain on derivative contracts | 1,339 | 786 |
| Liabilities | ||
| Unrealized loss on derivative contracts | 1,256 | 680 |
|
Assets and liabilities measured at fair value on a recurring basis | Fair Value | Undesignated derivative contracts | Freight
|
||
| Assets | ||
| Unrealized gain on derivative contracts | 6 | |
| Liabilities | ||
| Unrealized loss on derivative contracts | 1 | |
|
Assets and liabilities measured at fair value on a recurring basis | Fair Value | Undesignated derivative contracts | Energy
|
||
| Assets | ||
| Unrealized gain on derivative contracts | 20 | 26 |
| Liabilities | ||
| Unrealized loss on derivative contracts | $ 38 | $ 25 |