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DERIVATIVES (Tables)
 9 Months Ended
Sep. 30, 2015
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of Notional Amounts of Outstanding Derivative Positions [Table Text Block]
Total notional amounts 
 
September 30, 2015
 
December 31, 2014
 
 
 
 
 
 
Foreign Exchange Forward and Option Contracts (in millions)
 
 
 
 
 
EUR/USD (in EUR)
 
€696
 
€810
 
EUR/USD (in approximate USD equivalent)
 
$795
 
$1,000
 
JPY/USD (in JPY)
 
¥3,000
 
¥4,800
 
JPY/USD (in approximate USD equivalent)
 
$25
 
$40
Commodity Forward and Collar Contracts
 
 
 
 
 
Contract ethylene sales (in thousand metric tons)
 
0

 
14

 
Feedstock (in million barrels)
 
25

 
33

 
Feedstock (in thousand metric tons)
 
8

 
30

 
Energy (in million million british thermal units)
 
28

 
25

Interest rate swaps for the future issuance of debt (in millions)
 
$500
 
$500
Schedule of Derivative Financial Assets and Liabilities Based on Fair Value on Recurring Basis and Balance Sheet Location
Fair Value Measurement of Derivatives Designated as Fair Value Hedging Instruments
(Dollars in millions)
 
 
 
Fair Value Measurement
Derivative Assets
 
Statement of Financial Position Location
 
September 30, 2015
 
December 31, 2014

Interest rate swap
 
Other noncurrent assets
 
$
12

 
$
5


Fair Value Measurement of Derivatives Designated as Cash Flow Hedging Instruments
(Dollars in millions)
 
 
 
Fair Value Measurements Significant Other Observable Inputs
Derivative Assets
 
Statement of Financial Position Location
 
September 30, 2015
 
December 31, 2014
Cash Flow Hedges
 
 
 
 
 
 
Commodity contracts
 
Other current assets
 
$
—

 
$
2

Foreign exchange contracts
 
Other current assets
 
66

 
61

Foreign exchange contracts
 
Other noncurrent assets
 
84

 
71

 
 
 
 
$
150

 
$
134

 
(Dollars in millions)
 
 
 
Fair Value Measurements Significant Other Observable Inputs
Derivative Liabilities
 
Statement of Financial Position Location
 
September 30, 2015
 
December 31, 2014
Cash Flow Hedges

 
 
 
 
 
 
Commodity contracts
 
Payables and other current liabilities
 
$
177

 
$
193

Commodity contracts
 
Other long-term liabilities
 
250

 
289

Foreign exchange contracts
 
Payables and other current liabilities
 
2

 
10

Forward starting interest rate swap contracts
 
Other long-term liabilities
 
34

 
16

 
 
 
 
$
463

 
$
508
Derivative Instrument Gain Loss in Statement of Financial Performance


Derivatives' Hedging Relationships

 
 
Third Quarter
(Dollars in millions)
 
Change in amount after tax of gain/(loss) recognized in Other Comprehensive Income on derivatives (effective portion)
 
Location of gain/(loss) reclassified from Accumulated Other Comprehensive Income into income (effective portion)
 
Pre-tax amount of gain/(loss) reclassified from Accumulated Other Comprehensive Income into income (effective portion)
Derivatives' Cash Flow Hedging Relationships
 
September 30,
2015
 
September 30,
2014
 
September 30,
2015
 
September 30,
2014
Commodity contracts
 
$
(6
)
 
$
(22
)
 
Sales
 
$
1

 
$
—

 
 
 
 
 
 
Cost of Sales
 
(74
)
 
(1
)
Foreign exchange contracts
 
(11
)
 
57

 
Sales
 
20

 
4

Forward starting interest rate swap contracts
 
(15
)
 
1

 
Net interest expense
 
(1
)
 
(2
)
 
 
$
(32
)
 
$
36

 
 
 
$
(54
)
 
$
1

 
 
 
 
 
 
 
 
 
 
 
 
 
First Nine Months
(Dollars in millions)
 
Change in amount after tax of gain/(loss) recognized in Other Comprehensive Income on derivatives (effective portion)
 
Location of gain/(loss) reclassified from Accumulated Other Comprehensive Income into income (effective portion)
 
Pre-tax amount of gain/(loss) reclassified from Accumulated Other Comprehensive Income into income (effective portion)
Derivatives' Cash Flow Hedging Relationships
 
September 30,
2015
 
September 30,
2014
 
September 30,
2015
 
September 30,
2014
Commodity contracts
 
$
21

 
$
(27
)
 
Sales
 
$
4

 
$
—

 
 
 
 
 
 
Cost of sales
 
(152
)
 
18

Foreign exchange contracts
 
16

 
59

 
Sales
 
63

 
3

Forward starting interest rate swap contracts
 
(8
)
 
1

 
Net interest expense
 
(5
)
 
(6
)
 
 
$
29

 
$
33

 
 
 
$
(90
)
 
$
15
Financial assets and liabilities valued on a recurring basis
(Dollars in millions)
 
 
 
Fair Value Measurements at September 30, 2015
Description
 
September 30, 2015
 
Quoted Prices in Active Markets for Identical Assets (Level 1)
 
Significant Other Observable Inputs (Level 2)
 
Significant Unobservable Inputs (Level 3)
Derivative Assets
 
$
162

 
$
—

 
$
162

 
$
—

Derivative Liabilities
 
(463
)
 
—

 
(463
)
 
—

 
 
$
(301
)
 
$
—

 
$
(301
)
 
$
—

 
(Dollars in millions)
 
 
 
Fair Value Measurements at December 31, 2014
Description
 
December 31, 2014
 
Quoted Prices in Active Markets for Identical Assets (Level 1)
 
Significant Other Observable Inputs (Level 2)
 
Significant Unobservable Inputs (Level 3)
Derivative Assets
 
$
139

 
$
—

 
$
137

 
$
2

Derivative Liabilities
 
(508
)
 
—

 
(508
)
 
—

 
 
$
(369
)
 
$
—

 
$
(371
)
 
$
2