v2.4.0.6

Derivative and Financial Instruments (Tables) | 9 Months Ended
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Sep. 30, 2012
Derivative and Financial Instruments [Abstract] |
Balance sheet location and fair value amounts of derivatives |
The following table presents the gross fair values of our commodity derivatives, excluding collateral, and the line items where they would appear on our consolidated balance sheet:
| Millions of Dollars
| September 30 |  | December 31
| 2012 |  | 2011
Assets |  |  |  |
Prepaid expenses and other current assets | $ | 2,429 |  | 4,433
Other assets |  | 188 |  | 415
Liabilities |  |  |  |
Other accruals |  | 2,389 |  | 4,350
Other liabilities and deferred credits |  | 189 |  | 374
The following table presents the gross fair values of our foreign currency exchange derivatives, excluding collateral, and the line items where they would appear on our consolidated balance sheet:
| Millions of Dollars
| September 30 |  | December 31
| 2012 |  | 2011
Assets |  |  |  |
Prepaid expenses and other current assets | $ | 72 |  | 12
Other assets |  | - |  | 1
Liabilities |  |  |  |
Other accruals |  | 16 |  | 23
Other liabilities and deferred credits |  | 1 |  | -
Income statement location and gain/loss amounts of derivatives |
The gains (losses) from commodity derivatives incurred, and the line items where they appear on our consolidated income statement were:
|  | Millions of Dollars
|  | Three Months Ended |  | Nine Months Ended
September 30 | September 30
|  | 2012 |  | 2011 |  | 2012 |  | 2011
Sales and other operating revenues |  | $ | (217) |  | 249 |  | (357) |  | 198
Other income |  |  | 3 |  | (6) |  | (2) |  | (2)
Purchased commodities |  |  | 184 |  | (191) |  | 288 |  | (129)
The (gains) losses from foreign currency exchange derivatives incurred, and the line items where they appear on our consolidated income statement were:
|  | Millions of Dollars
|  | Three Months Ended |  | Nine Months Ended
September 30 | September 30
|  | 2012 |  | 2011 |  | 2012 |  | 2011
Foreign currency transaction (gains) losses |  | $ | (39) |  | (11) |  | (129) |  | (15)
Net exposures from outstanding commodity derivative contracts |
The table below summarizes our material net exposures resulting from outstanding commodity derivative contracts.
| Open Position
Long/(Short)
| September 30 |  | December 31
| 2012 |  | 2011
Commodity |  |  |  |
Crude oil, refined products and natural gas liquids (millions of barrels) |  | - |  | (13)
Natural gas and power (billions of cubic feet equivalent) |  |  |  |
Fixed price |  | (64) |  | (57)
Basis |  | 97 |  | (25)
We had the following net notional position of outstanding foreign currency exchange derivatives:
|  | In Millions
|  |  | Notional Currency (1)
| September 30 |  | December 31
|  |  | 2012 |  | 2011
Sell U.S. dollar, buy other currencies (2) | USD | 285 |  | 1,949
Sell euro, buy other currencies (3) | EUR | - |  | 61
Buy U.S. dollar, sell other currencies (4) | USD | 477 |  | -
Buy British pound, sell other currencies (5) | GBP | 3,709 |  | -
Buy euro, sell British pound | EUR | 176 |  | -
(1) | Denominated in U.S. dollars (USD), British pound (GBP) and euros (EUR).
(2) | Primarily euro, Canadian dollar, Norwegian krone and British pound.
(3) | Primarily Norwegian krone and British pound.
(4) | Primarily Canadian dollar, euro and Norwegian krone.
(5) | Primarily euro and U.S. dollar.
Net carrying amount of held to maturity investments |
These balances consisted of the following:
| Millions of Dollars
| Carrying Amount
| Cash and Cash Equivalents |  | Short-Term Investments
| September 30 |  | December 31 |  | September 30 |  | December 31
2012 | 2011 | 2012 | 2011
Cash | $ | 636 |  | 1,169 |  | - |  | -
Time Deposits |  |  |  |  |  |  |  |
Remaining maturities from 1 to 90 days |  | 632 |  | 4,318 |  | - |  | 349
Commercial Paper |  |  |  |  |  |  |  |
Remaining maturities from 1 to 90 days |  | - |  | 293 |  | - |  | 232
| $ | 1,268 |  | 5,780 |  | - |  | 581

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- Definition 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 Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 133 -Paragraph 205G -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4B -URI http://asc.fasb.org/extlink&oid=7476318&loc=SL5624163-113959 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 133 -Paragraph 44C -Subparagraph a -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. + Details
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