Quarterly report pursuant to Section 13 or 15(d)

FAIR VALUE OF FINANCIAL INSTRUMENTS (Tables)

v2.4.0.6
FAIR VALUE OF FINANCIAL INSTRUMENTS (Tables)
3 Months Ended
Apr. 01, 2012
FAIR VALUE OF FINANCIAL INSTRUMENTS  
Summary of financial instruments recorded at fair value

 

 

The following table summarizes our financial instruments recorded at fair value in our Condensed Consolidated Balance Sheets at April 1, 2012:

 

 

 

Fair Value Measurements Using

 

 

 

Quoted prices in active
markets for identical
assets

 

Significant other
observable inputs

 

Significant
unobservable inputs

 

 

 

In millions

 

(Level 1)

 

(Level 2)

 

(Level 3)

 

Total

 

Available-for-sale debt securities

 

 

 

 

 

 

 

 

 

Debt mutual funds

 

$

40

 

$

77

 

$

 

$

117

 

Bank debentures

 

 

64

 

 

64

 

Certificates of deposit

 

 

58

 

 

58

 

Government debt securities-non-U.S.

 

 

3

 

 

3

 

Corporate debt securities

 

 

2

 

 

2

 

 

 

 

 

 

 

 

 

 

 

Available-for-sale equity securities

 

 

 

 

 

 

 

 

 

Financial services industry

 

8

 

 

 

8

 

 

 

 

 

 

 

 

 

 

 

Derivative assets

 

 

 

 

 

 

 

 

 

Commodity swap contracts

 

 

1

 

 

1

 

Foreign currency forward contracts

 

 

2

 

 

2

 

Interest rate contracts

 

 

70

 

 

70

 

Total assets

 

$

48

 

$

277

 

$

 

$

325

 

 

 

 

 

 

 

 

 

 

 

Derivative liabilities

 

 

 

 

 

 

 

 

 

Foreign currency forward contracts

 

 

1

 

 

1

 

Total liabilities

 

$

 

$

1

 

$

 

$

1

 

 

The following table summarizes our financial instruments recorded at fair value in our Condensed Consolidated Balance Sheets at December 31, 2011:

 

 

 

Fair Value Measurements Using

 

 

 

Quoted prices in active
markets for identical
assets

 

Significant other
observable inputs

 

Significant
unobservable inputs

 

 

 

In millions

 

(Level 1)

 

(Level 2)

 

(Level 3)

 

Total

 

Available-for-sale debt securities

 

 

 

 

 

 

 

 

 

Debt mutual funds

 

$

53

 

$

64

 

$

 

$

117

 

Bank debentures

 

 

82

 

 

82

 

Certificates of deposit

 

 

66

 

 

66

 

Government debt securities-non-U.S.

 

 

3

 

 

3

 

Corporate debt securities

 

 

2

 

 

2

 

 

 

 

 

 

 

 

 

 

 

Available-for-sale equity securities

 

 

 

 

 

 

 

 

 

Financial services industry

 

7

 

 

 

7

 

 

 

 

 

 

 

 

 

 

 

Derivative assets

 

 

 

 

 

 

 

 

 

Interest rate contracts

 

 

82

 

 

82

 

Total assets

 

$

60

 

$

299

 

$

 

$

359

 

 

 

 

 

 

 

 

 

 

 

Derivative liabilities

 

 

 

 

 

 

 

 

 

Commodity swap contracts

 

 

22

 

 

22

 

Foreign currency forward contracts

 

 

8

 

 

8

 

Total liabilities

 

$

 

$

30

 

$

 

$

30

Fair value and carrying value of total debt

 

 

 

 

April 1,

 

December 31,

 

In millions

 

2012

 

2011

 

Fair value of total debt

 

$

901

 

$

901

 

Carrying value of total debt

 

778

 

783