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Note 3 - Liabilities Subject To Compromise | 3 Months Ended
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Mar. 31, 2013
Liabilities Subject to Compromise, Description | NOTE 3: LIABILITIES SUBJECT TO COMPROMISE The following table reflects pre-petition liabilities that are subject to compromise.
|  | As of |  |  | As of |
(in millions) |  | March 31, |  |  | December 31, |
|  | 2013 |  |  | 2012 |
Accounts payable |  | $ | 281 |  |  | $ | 283 |
Debt |  |  | 683 |  |  |  | 683 |
Pension and other postemployment obligations |  |  | 749 |  |  |  | 785 |
Settlements |  |  | 802 |  |  |  | 710 |
Other liabilities subject to compromise |  |  | 231 |  |  |  | 255 |
Liabilities subject to compromise |  | $ | 2,746 |  |  | $ | 2,716 |
The Bankruptcy Filing constituted an event of default with respect to certain of the Company’s debt instruments. Refer to Note 8, “Short-Term Borrowings and Long-Term Debt” for additional information. Settlements relate to allowed claims under agreements reached with various creditors, including $650 million related to the settlement agreement reached with the Retiree Committee. Refer to Note 2, “Bankruptcy Proceedings” for additional information. Other liabilities subject to compromise include accrued liabilities for customer programs, deferred compensation, environmental, taxes, and contract and lease rejections. The amount of liabilities subject to compromise represents the Debtors’ estimate, where an estimate is determinable, of known or potential pre-petition claims to be addressed in connection with the bankruptcy proceedings. Such liabilities are reported at the Debtors’ current estimate, where an estimate is determinable, of the allowed claim amount, even though they may settle for lesser amounts. These claims remain subject to future adjustments, which may result from: negotiations; actions of the Bankruptcy Court; disputed claims; rejection of contracts and unexpired leases; the determination as to the value of any collateral securing claims; proofs of claims; or other events. Refer to Note 2, "Bankruptcy Proceedings" for additional information.

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- Definition Description of items included in liabilities subject to compromise. May include assumptions used to determine amounts subject to compromise and factors or events that might impact those assumptions. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher AICPA -Name Statement of Position (SOP) -Number 90-7 -Paragraph 26 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 852 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=6918054&loc=d3e56015-112765 + Details
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