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Financial Instruments (Tables)
 3 Months Ended
Mar. 31, 2013
Financial Instruments [Abstract]  
Schedule of Notional Amounts of Outstanding Derivative Positions
At March 31, 2013, the volume of our derivative activities based on their notional exposure, categorized by primary underlying risk, are as follows:
  
Long Notional Exposure
 
Short Notional Exposure
Primary underlying risk:
(in millions)
Equity swaps
$
2

 
$
6,128

Foreign currency forwards
126

 
2,162

Interest rate swap contracts
203

 
—

Commodity contracts
66

 
39
Schedule of Other Derivatives Not Designated as Hedging Instruments, Statements of Financial Performance and Financial Position, Location
The following table presents the consolidated fair values of our derivatives that are not designated as hedging instruments:
 
 
Asset Derivatives(1)
 
Liability Derivatives(2)
Derivatives Not Designated as Hedging Instruments
 
March 31,
 
December 31,
 
March 31,
 
December 31,
 
2013
 
2012
 
2013
 
2012
 
 
(in millions)
Equity contracts
 
$
—

 
$
21

 
$
483

 
$
35

Foreign exchange contracts
 
6

 
—

 
4

 
59

Commodity contracts
 
20

 
8

 
54

 
74

Sub-total
 
26

 
29

 
541

 
168

Netting across contract types(3)
 
(24
)
 
(7
)
 
(24
)
 
(7
)
Total(3)
 
$
2

 
$
22

 
$
517

 
$
161


(1) 
Net asset derivatives are located within other assets in our consolidated balance sheets.
(2) 
Net liability derivatives are located within accrued expenses and other liabilities in our consolidated balance sheets.
(3) 
Excludes netting of cash collateral received and posted.  The total collateral posted at March 31, 2013 and December 31, 2012 was $40 million and $148 million, respectively, across all counterparties.
The following table presents the effects of our derivative instruments not designated as hedging instruments on the statements of operations for the three months ended March 31, 2013 and 2012:
 
 
Gain (Loss) Recognized in Income(1)
 
 
Three Months Ended March 31,
Derivatives Not Designated as Hedging Instruments
 
2013
 
2012
 
 
(in millions)
Equity contracts
 
$
(645
)
 
$
(399
)
Foreign exchange contracts
 
68

 
(41
)
Commodity contracts
 
(51
)
 
—

 
 
$
(628
)
 
$
(440
)
 
(1) 
Gains (losses) recognized on derivatives are classified in net gain from investment activities in our consolidated statements of operations for our Investment segment and are included in other income (loss), net for all other segments.
Schedule of Cash Flow Hedging Instruments, Statements of Financial Performance and Financial Position, Location

The following table presents the fair values of our derivative instruments that are designated as cash flow hedging instruments:
 
 
Asset Derivatives(1)
 
Liability Derivatives(2)
Derivatives Designated as Cash Flow Hedging Instruments
 
March 31, 2013
 
December 31, 2012
 
March 31, 2013
 
December 31, 2012
 
 
(in millions)
Interest rate swap contracts
 
$
—

 
$
—

 
$
5

 
$
13

Commodity contracts
 
1

 
2

 
2

 
1

Sub-total
 
1

 
2

 
7

 
14

Netting across contract types
 
(1
)
 
(2
)
 
(1
)
 
(2
)
Total
 
$
—

 
$
—

 
$
6

 
$
12


(1) 
Located within other assets in our consolidated balance sheets.
(2) 
Located within accrued expenses and other liabilities in our consolidated balance sheet
Schedule of Derivative Instruments, Gain (Loss) in Statement of Financial Performance
The following tables present the effect of our derivative instruments that are designated as cash flow hedging instruments on our consolidated financial statements for the three months ended March 31, 2013 and 2012:
Three Months Ended March 31, 2013
Derivatives Designated as Hedging Instruments
 
Amount of (Loss) Gain Recognized in OCI on Derivatives (Effective Portion)
 
Amount of (Loss) Gain Reclassified from AOCI into Income (Effective Portion)
 
Location of (Loss) Gain Reclassified from AOCI into Income (Effective Portion)
 
 
(in millions)
 
(in millions)
 
 
Interest rate swap contracts
 
$
(1
)
 
$
(7
)
 
Interest expense
Commodity contracts
 
(2
)
 
—

 
Cost of goods sold
Foreign currency contracts
 
—

 
—

 
 
 
 
$
(3
)
 
$
(7
)
 
 

Three Months Ended March 31, 2012
Derivatives Designated as Hedging Instruments
 
Amount of (Loss) Gain Recognized in OCI on Derivatives (Effective Portion)
 
Amount of (Loss) Gain Reclassified from AOCI into Income (Effective Portion)
 
Location of (Loss) Gain Reclassified from AOCI into Income (Effective Portion)
 
 
(in millions)
 
(in millions)
 
 
Interest rate swap contracts
 
$
(3
)
 
$
(10
)
 
Interest expense
Commodity contracts
 
7

 
(3
)
 
Cost of goods sold
Foreign currency contracts
 
(3
)
 
—

 
 
 
 
$
1

 
$
(13
)