v2.4.0.6
Derivative and Financial Instruments (Tables)
 9 Months Ended
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 30September 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 30September 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 poundEUR 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
2012201120122011
         
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