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Inventories, Derivative Instruments & Hedging Activities (Tables) | 12 Months Ended
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Jun. 30, 2012
Inventories, Derivative Instruments & Hedging Activities [Abstract] |
Schedule Of Inventories |
|  | 2012 |  | 2011
|  | (In millions)
LIFO inventories |  |  |  |  |  |
FIFO value |  | $ | 1,070 |  | $ | 1,143
LIFO valuation reserve |  |  | (583) |  |  | (593)
LIFO inventories carrying value |  |  | 487 |  |  | 550
FIFO inventories |  |  | 4,946 |  |  | 5,590
Market inventories |  |  | 6,759 |  |  | 5,915
|  | $ | 12,192 |  | $ | 12,055
Fair Value Of Derivatives Not Designated As Hedging Instruments |
|  | 2012 |  | 2011
|  | Assets |  | Liabilities |  | Assets |  | Liabilities
|  | (In millions) |  | (In millions)
FX Contracts |  | $ | 219 |  | $ | 291 |  | $ | 237 |  | $ | 178
Interest Contracts |  |  | - |  |  | - |  |  | 3 |  |  | -
Commodity Contracts |  |  | 2,843 |  |  | 2,704 |  |  | 2,766 |  |  | 2,553
Other Contracts |  |  | 1 |  |  | - |  |  | - |  |  | -
Total |  | $ | 3,063 |  | $ | 2,995 |  | $ | 3,006 |  | $ | 2,731
Pre-Tax Gains (Losses) On Derivatives Not Designated As Hedging Instruments |
| Years ended June 30
| 2012 | 2011 | 2010
| (In millions)
Interest Contracts |  |  |  |  |  |
Interest expense | $ | 0 | $ | 0 | $ | 0
Other income (expense) - net |  | - |  | 30 |  | (57)
FX Contracts |  |  |  |  |  |
Net sales and other operating income | $ | 117 | $ | (14) | $ | 0
Cost of products sold |  | (255) |  | 150 |  | 61
Other income (expense) - net |  | (21) |  | 43 |  | (42)
Commodity Contracts |  |  |  |  |  |
Cost of products sold | $ | (527) | $ | (1,303) | $ | 242
Other Contracts |  |  |  |  |  |
Other income (expense) - net |  | (1) |  | 0 |  | 0
Total gain (loss) recognized in earnings | $ | (687) | $ | (1,094) | $ | 204
Fair Value Of Derivatives Designated As Hedging Instruments |
|  | 2012 |  | 2011
|  | Assets |  | Liabilities |  | Assets |  | Liabilities
|  | (In millions) |  | (In millions)
Commodity Contracts |  |  | - |  |  | - |  |  | 1 |  |  | 1
Total |  | $ | - |  | $ | - |  | $ | 1 |  | $ | 1
Pre-Tax Gains (Losses) On Derivatives Designated As Hedging Instruments |
|  | Consolidated Statement of | Years ended June 30
|  | Earnings Locations |  | 2012 | 2011 | 2010
|  |  |  | (In millions)
Effective amounts recognized in earnings |  |  |  |  |  |  |  |  |
FX Contracts |  | Other income/expense – net |  | $ | (1) | $ | 0 | $ | (1)
Interest Contracts |  | Interest expense |  |  | 1 |  | 0 |  | 0
Commodity Contracts |  | Cost of products sold |  |  | 5 |  | 375 |  | (85)
|  | Net sales and other operating income |  |  | 3 |  | (13) |  | 0
Ineffective amount recognized in earnings |  |  |  |  |  |  |  |  |
Interest contracts |  | Interest expense |  |  | - |  | 1 |  | -
Commodity contracts |  | Cost of products sold |  |  | 49 |  | 46 |  | (55)
Total amount recognized in earnings |  |  |  | $ | 57 | $ | 409 | $ | (141)

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- Definition Fair value of all derivatives designated as hedging instruments. + References No definition available. + Details
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