v2.4.0.8
Derivative and Financial Instruments (Tables)
 6 Months Ended
Jun. 30, 2013
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 appear on our consolidated balance sheet:
     
 Millions of Dollars
  June 30  December 31
 2013 2012
Assets    
Prepaid expenses and other current assets$ 1,130  1,538
Other assets  106  105
Liabilities    
Other accruals  1,166  1,509
Other liabilities and deferred credits  100  99

The following table presents the gross fair values of our foreign currency exchange derivatives, excluding collateral, and the line items where they appear on our consolidated balance sheet:
     
 Millions of Dollars
  June 30  December 31
 2013 2012
Assets    
Prepaid expenses and other current assets$ 5  32
Liabilities    
Other accruals  22  2
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 Six Months Ended 
June 30June 30 
  2013 2012 2013 2012 
           
Sales and other operating revenues* $ 25  263  (183)  (140) 
Other income    1  1  3  (5) 
Purchased commodities*   (14)  (294)  171  104 
*2012 has been restated to eliminate certain non-derivative transactions and realign certain derivative transactions between sales and 
purchases.          

The (gains) losses from foreign currency exchange derivatives incurred, and the line item where they appear on our consolidated income statement were:
          
  Millions of Dollars
   Three Months Ended Six Months Ended
June 30June 30
  2013 2012 2013 2012
          
Foreign currency transaction (gains) losses $ 35  (75)  57  (90)
          
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)
 June 30 December 31
 2013 2012
     
Natural gas and power (billions of cubic feet equivalent)    
Fixed price  (31)  (48)
Basis  (29)  125

We had the following net notional position of outstanding foreign currency exchange derivatives:
      
  In Millions
   Notional Currency
 June 30 December 31
   2013 2012
     
Sell U.S. dollar, buy other currencies*USD 1,833  2,573
Buy U.S. dollar, sell other currencies**USD 25  140
Buy British pound, sell euroGBP 47  -
Buy euro, sell British poundEUR -  96
*Primarily Norwegian krone and British pound.    
**Primarily euro, Canadian dollar and Norwegian krone.
Balances of financial instruments
These balances consisted of the following:
         
 Millions of Dollars
 Carrying Amount
 Cash and Cash Equivalents Short-Term Investments
 June 30 December 31 June 30 December 31
2013201220132012
         
Cash$ 757  829  -  -
Time Deposits  3,152  2,789  75  -
 $ 3,909  3,618  75  -