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beatandraise.com

1.0.0.3 false Financial Instruments false 1 $ false false Shares Standard http://www.xbrl.org/2003/instance shares xbrli 0 USD Standard http://www.xbrl.org/2003/iso4217 USD iso4217 0 USDperShare Divide http://www.xbrl.org/2003/iso4217 USD iso4217 http://www.xbrl.org/2003/instance shares xbrli 0 2 Financial Instruments [Abstract] 0 pfe_FinancialInstrumentsAbstract pfe false na duration string No definition available. false false false false false true false false false 1 false false 0 0 false false No definition available. false 3 Financial Instruments [Text Block] 1 pfe_FinancialInstrumentsDisclosureTextBlock pfe false na duration string This element represents the complete disclosure related to financial instruments, which may include i) selected financial... false false false false false false false false false 1 false false 0 0 9. Financial Instruments A. Selected Financial Assets and Liabilities Information about certain of our financial assets and liabilities follows:   <table cellspacing="0" cellpadding="0" align="center" border="0" width="100%"> <tr> <td width="81%"/> <td valign="bottom" width="5%"/> <td/> <td/> <td/> <td valign="bottom" width="5%"/> <td/> <td/></tr> <tr> <td style="BORDER-TOP: #000000 1px solid" valign="bottom">  </td> <td style="BORDER-TOP: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" valign="bottom">  </td> <td style="BORDER-TOP: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" valign="bottom" align="right" colspan="6">AS OF DECEMBER 31,</td></tr> <tr> <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom">(MILLIONS OF DOLLARS)</td> <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" bgcolor="#bfbfbf">  </td> <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" align="right" colspan="2" bgcolor="#bfbfbf">2009</td> <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" bgcolor="#bfbfbf"> </td> <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom"> </td> <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" align="right" colspan="2">2008</td></tr> <tr> <td valign="top"> Selected financial assets measured at fair value on a recurring basis(a):</td> <td valign="bottom" bgcolor="#bfbfbf">  </td> <td valign="bottom" bgcolor="#bfbfbf"/> <td valign="bottom" bgcolor="#bfbfbf"/> <td valign="bottom" bgcolor="#bfbfbf"/> <td valign="bottom"> </td> <td valign="bottom"/> <td valign="bottom"/></tr> <tr> <td valign="top"> Trading securities(b)</td> <td valign="bottom" bgcolor="#bfbfbf">  </td> <td valign="bottom" bgcolor="#bfbfbf">$</td> <td valign="bottom" align="right" bgcolor="#bfbfbf">184</td> <td valign="bottom" nowrap="nowrap" bgcolor="#bfbfbf">     </td> <td valign="bottom"> </td> <td valign="bottom">$</td> <td valign="bottom" align="right">190</td></tr> <tr> <td valign="top"> Available-for-sale debt securities(c)</td> <td valign="bottom" bgcolor="#bfbfbf">  </td> <td valign="bottom" bgcolor="#bfbfbf"> </td> <td valign="bottom" align="right" bgcolor="#bfbfbf">32,338</td> <td valign="bottom" nowrap="nowrap" bgcolor="#bfbfbf">  </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">30,061</td></tr> <tr> <td valign="top"> Available-for-sale money market funds(d)</td> <td valign="bottom" bgcolor="#bfbfbf">  </td> <td valign="bottom" bgcolor="#bfbfbf"> </td> <td valign="bottom" align="right" bgcolor="#bfbfbf">2,569</td> <td valign="bottom" nowrap="nowrap" bgcolor="#bfbfbf">  </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">398</td></tr> <tr> <td valign="top"> Available-for-sale equity securities, excluding money market funds(c)</td> <td valign="bottom" bgcolor="#bfbfbf">  </td> <td valign="bottom" bgcolor="#bfbfbf"> </td> <td valign="bottom" align="right" bgcolor="#bfbfbf">281</td> <td valign="bottom" nowrap="nowrap" bgcolor="#bfbfbf">  </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">319</td></tr> <tr> <td valign="top"> Derivative financial instruments in receivable positions(e):</td> <td valign="bottom" bgcolor="#bfbfbf">  </td> <td valign="bottom" bgcolor="#bfbfbf"/> <td valign="bottom" bgcolor="#bfbfbf"/> <td valign="bottom" bgcolor="#bfbfbf"/> <td valign="bottom"> </td> <td valign="bottom"/> <td valign="bottom"/></tr> <tr> <td valign="top"> Foreign currency swaps</td> <td valign="bottom" bgcolor="#bfbfbf">  </td> <td valign="bottom" bgcolor="#bfbfbf"> </td> <td valign="bottom" align="right" bgcolor="#bfbfbf">798</td> <td valign="bottom" nowrap="nowrap" bgcolor="#bfbfbf">  </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">128</td></tr> <tr> <td valign="top"> Foreign currency forward-exchange contracts</td> <td valign="bottom" bgcolor="#bfbfbf">  </td> <td valign="bottom" bgcolor="#bfbfbf"> </td> <td valign="bottom" align="right" bgcolor="#bfbfbf">502</td> <td valign="bottom" nowrap="nowrap" bgcolor="#bfbfbf">  </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">399</td></tr> <tr> <td style="BORDER-BOTTOM: #000000 1px solid" valign="top"> Interest rate swaps</td> <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" bgcolor="#bfbfbf">  </td> <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" bgcolor="#bfbfbf"> </td> <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" align="right" bgcolor="#bfbfbf">276</td> <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" nowrap="nowrap" bgcolor="#bfbfbf">  </td> <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom"> </td> <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom"> </td> <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" align="right">732</td></tr> <tr> <td style="BORDER-BOTTOM: #000000 1px solid" valign="top"> Total</td> <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" bgcolor="#bfbfbf">  </td> <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" bgcolor="#bfbfbf"> </td> <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" align="right" bgcolor="#bfbfbf">36,948</td> <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" nowrap="nowrap" bgcolor="#bfbfbf">  </td> <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom"> </td> <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom"> </td> <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" align="right">32,227</td></tr> <tr> <td valign="top"> Other selected financial assets(f):</td> <td valign="bottom" bgcolor="#bfbfbf">  </td> <td valign="bottom" bgcolor="#bfbfbf"/> <td valign="bottom" bgcolor="#bfbfbf"/> <td valign="bottom" bgcolor="#bfbfbf"/> <td valign="bottom"> </td> <td valign="bottom"/> <td valign="bottom"/></tr> <tr> <td valign="top"> Short-term loans, carried at cost</td> <td valign="bottom" bgcolor="#bfbfbf">  </td> <td valign="bottom" bgcolor="#bfbfbf"> </td> <td valign="bottom" align="right" bgcolor="#bfbfbf">1,195</td> <td valign="bottom" nowrap="nowrap" bgcolor="#bfbfbf">  </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">824</td></tr> <tr> <td valign="top"> Held-to-maturity debt securities, carried at amortized cost(c) </td> <td valign="bottom" bgcolor="#bfbfbf">  </td> <td valign="bottom" bgcolor="#bfbfbf"> </td> <td valign="bottom" align="right" bgcolor="#bfbfbf">812</td> <td valign="bottom" nowrap="nowrap" bgcolor="#bfbfbf">  </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">2,349</td></tr> <tr> <td valign="top"> Private equity securities, carried at cost</td> <td valign="bottom" bgcolor="#bfbfbf">  </td> <td valign="bottom" bgcolor="#bfbfbf"> </td> <td valign="bottom" align="right" bgcolor="#bfbfbf">811</td> <td valign="bottom" nowrap="nowrap" bgcolor="#bfbfbf">  </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">182</td></tr> <tr> <td style="BORDER-BOTTOM: #000000 1px solid" valign="top"> Long-term loans, carried at cost</td> <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" bgcolor="#bfbfbf">  </td> <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" bgcolor="#bfbfbf"> </td> <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" align="right" bgcolor="#bfbfbf">784</td> <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" nowrap="nowrap" bgcolor="#bfbfbf">  </td> <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom"> </td> <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom"> </td> <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" align="right">1,568</td></tr> <tr> <td style="BORDER-BOTTOM: #000000 1px solid" valign="top"> Total</td> <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" bgcolor="#bfbfbf">  </td> <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" bgcolor="#bfbfbf"> </td> <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" align="right" bgcolor="#bfbfbf">3,602</td> <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" nowrap="nowrap" bgcolor="#bfbfbf">  </td> <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom"> </td> <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom"> </td> <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" align="right">4,923</td></tr> <tr> <td valign="top"> Total selected financial assets</td> <td valign="bottom" bgcolor="#bfbfbf">  </td> <td valign="bottom" bgcolor="#bfbfbf"> </td> <td valign="bottom" align="right" bgcolor="#bfbfbf">40,550</td> <td valign="bottom" nowrap="nowrap" bgcolor="#bfbfbf">  </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">37,150</td></tr> <tr style="FONT-SIZE: 1px"> <td style="BORDER-TOP: #000000 3px double" valign="bottom" colspan="8"> </td></tr> <tr> <td valign="top"> Financial liabilities measured at fair value on a recurring basis(a):</td> <td valign="bottom" bgcolor="#bfbfbf">  </td> <td valign="bottom" bgcolor="#bfbfbf"/> <td valign="bottom" bgcolor="#bfbfbf"/> <td valign="bottom" bgcolor="#bfbfbf"/> <td valign="bottom"> </td> <td valign="bottom"/> <td valign="bottom"/></tr> <tr> <td valign="top"> Derivative financial instruments in a liability position(g):</td> <td valign="bottom" bgcolor="#bfbfbf">  </td> <td valign="bottom" bgcolor="#bfbfbf"/> <td valign="bottom" bgcolor="#bfbfbf"/> <td valign="bottom" bgcolor="#bfbfbf"/> <td valign="bottom"> </td> <td valign="bottom"/> <td valign="bottom"/></tr> <tr> <td valign="top"> Foreign currency swaps</td> <td valign="bottom" bgcolor="#bfbfbf">  </td> <td valign="bottom" bgcolor="#bfbfbf"> </td> <td valign="bottom" align="right" bgcolor="#bfbfbf">528</td> <td valign="bottom" nowrap="nowrap" bgcolor="#bfbfbf">  </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">153</td></tr> <tr> <td valign="top"> Foreign currency forward-exchange contracts</td> <td valign="bottom" bgcolor="#bfbfbf">  </td> <td valign="bottom" bgcolor="#bfbfbf"> </td> <td valign="bottom" align="right" bgcolor="#bfbfbf">237</td> <td valign="bottom" nowrap="nowrap" bgcolor="#bfbfbf">  </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">1,083</td></tr> <tr> <td valign="top"> Interest rate swaps</td> <td valign="bottom" bgcolor="#bfbfbf">  </td> <td valign="bottom" bgcolor="#bfbfbf"> </td> <td valign="bottom" align="right" bgcolor="#bfbfbf">25</td> <td valign="bottom" nowrap="nowrap" bgcolor="#bfbfbf">  </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">7</td></tr> <tr> <td style="BORDER-TOP: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" valign="top"> Total</td> <td style="BORDER-TOP: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" valign="bottom" bgcolor="#bfbfbf">  </td> <td style="BORDER-TOP: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" valign="bottom" bgcolor="#bfbfbf"> </td> <td style="BORDER-TOP: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" valign="bottom" align="right" bgcolor="#bfbfbf">790</td> <td style="BORDER-TOP: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" valign="bottom" nowrap="nowrap" bgcolor="#bfbfbf">  </td> <td style="BORDER-TOP: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" valign="bottom"> </td> <td style="BORDER-TOP: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" valign="bottom"> </td> <td style="BORDER-TOP: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" valign="bottom" align="right">1,243</td></tr> <tr> <td valign="top"> Other financial liabilities(f),(h):</td> <td valign="bottom" bgcolor="#bfbfbf">  </td> <td valign="bottom" bgcolor="#bfbfbf"/> <td valign="bottom" bgcolor="#bfbfbf"/> <td valign="bottom" bgcolor="#bfbfbf"/> <td valign="bottom"> </td> <td valign="bottom"/> <td valign="bottom"/></tr> <tr> <td valign="top"> Short-term borrowings, carried at historical proceeds, as adjusted(i)</td> <td valign="bottom" bgcolor="#bfbfbf">  </td> <td valign="bottom" bgcolor="#bfbfbf"> </td> <td valign="bottom" align="right" bgcolor="#bfbfbf">5,469</td> <td valign="bottom" nowrap="nowrap" bgcolor="#bfbfbf">  </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">9,320</td></tr> <tr> <td style="BORDER-BOTTOM: #000000 1px solid" valign="top"> Long-term debt, carried at historical proceeds, as adjusted(j), (k)</td> <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" bgcolor="#bfbfbf">  </td> <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" bgcolor="#bfbfbf"> </td> <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" align="right" bgcolor="#bfbfbf">43,193</td> <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" nowrap="nowrap" bgcolor="#bfbfbf">  </td> <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom"> </td> <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom"> </td> <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" align="right">7,963</td></tr> <tr> <td style="BORDER-BOTTOM: #000000 1px solid" valign="top"> Total</td> <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" bgcolor="#bfbfbf">  </td> <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" bgcolor="#bfbfbf"> </td> <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" align="right" bgcolor="#bfbfbf">48,662</td> <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" nowrap="nowrap" bgcolor="#bfbfbf">  </td> <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom"> </td> <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom"> </td> <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" align="right">17,283</td></tr> <tr> <td valign="top"> Total selected financial liabilities</td> <td valign="bottom" bgcolor="#bfbfbf">  </td> <td valign="bottom" bgcolor="#bfbfbf">$</td> <td valign="bottom" align="right" bgcolor="#bfbfbf">49,452</td> <td valign="bottom" nowrap="nowrap" bgcolor="#bfbfbf">  </td> <td valign="bottom"> </td> <td valign="bottom">$</td> <td valign="bottom" align="right">18,526</td></tr> <tr style="FONT-SIZE: 1px"> <td style="BORDER-TOP: #000000 3px double" valign="bottom" colspan="8"> </td></tr></table>   <table cellpadding="0" cellspacing="0" style="BORDER-COLLAPSE: collapse" border="0" width="100%"> <tr> <td valign="top" align="left" width="1%">(a) </td> <td valign="top" align="left"> Fair values are determined based on valuation techniques categorized as follows: Level 1 means the use of quoted prices for identical instruments in active markets; Level 2 means the use of quoted prices for similar instruments in active markets or quoted prices for identical or similar instruments in markets that are not active or are directly or indirectly observable; Level 3 means the use of unobservable inputs. Virtually all of our financial assets and liabilities measured at fair value on a recurring basis use Level 2 inputs in the calculation of fair value, except that included in available-for-sale equity securities, excluding money market funds, are $77 million as of December 31, 2009 and $87 million as of December 31, 2008 of investments that use Level 1 inputs in the calculation of fair value. None of our financial assets and liabilities measured at fair value on a recurring basis is valued using Level 3 inputs at December 31, 2009 or 2008. </td></tr></table> <table cellpadding="0" cellspacing="0" style="BORDER-COLLAPSE: collapse" border="0" width="100%"> <tr> <td valign="top" align="left" width="1%">(b) </td> <td valign="top" align="left"> Trading securities are held in trust for legacy Pharmacia severance benefits. </td></tr></table> <table cellpadding="0" cellspacing="0" style="BORDER-COLLAPSE: collapse" border="0" width="100%"> <tr> <td valign="top" align="left" width="1%">(c) </td> <td valign="top" align="left"> Gross unrealized gains and losses are not significant. </td></tr></table> <table cellpadding="0" cellspacing="0" style="BORDER-COLLAPSE: collapse" border="0" width="100%"> <tr> <td valign="top" align="left" width="1%">(d) </td> <td valign="top" align="left"> Includes approximately $1.2 billion of money market funds held in escrow to secure certain of Wyeth’s payment obligations under its 1999 Nationwide Class Action Settlement Agreement, which relates to litigation alleging that Wyeth’s former weight-loss products, Redux and Pondimin, caused valvular heart disease and other conditions. </td></tr></table> <table cellpadding="0" cellspacing="0" style="BORDER-COLLAPSE: collapse" border="0" width="100%"> <tr> <td valign="top" align="left" width="1%">(e) </td> <td valign="top" align="left"> Designated as hedging instruments, except for certain foreign currency contracts used as offsets; namely, foreign currency swaps with fair values of $106 million and foreign currency forward-exchange contracts with fair values of $100 million at December 31, 2009; and foreign currency swaps with fair values of $32 million and foreign currency forward-exchange contracts with fair values of $175 million at December 31, 2008. </td></tr></table> <table cellpadding="0" cellspacing="0" style="BORDER-COLLAPSE: collapse" border="0" width="100%"> <tr> <td valign="top" align="left" width="1%">(f) </td> <td valign="top" align="left"> The differences between the estimated fair values and carrying values of our financial assets and liabilities not measured at fair value on a recurring basis were not significant as of December 31, 2009 or December 31, 2008. </td></tr></table> <table cellpadding="0" cellspacing="0" style="BORDER-COLLAPSE: collapse" border="0" width="100%"> <tr> <td valign="top" align="left" width="1%">(g) </td> <td valign="top" align="left"> Designated as hedging instruments, except for certain foreign currency contracts used as offsets, namely, foreign currency forward-exchange contracts with fair values of $122 million and foreign currency swaps with fair values of $3 million at December 31, 2009; and foreign currency forward-exchange contracts with fair values of $836 million and foreign currency swaps with fair values of $76 million at December 31, 2008. </td></tr></table> <table cellpadding="0" cellspacing="0" style="BORDER-COLLAPSE: collapse" border="0" width="100%"> <tr> <td valign="top" align="left" width="1%">(h) </td> <td valign="top" align="left"> The carrying amounts may include adjustments for discount or premium amortization or for the effect of interest rate swaps designated as hedges. </td></tr></table> <table cellpadding="0" cellspacing="0" style="BORDER-COLLAPSE: collapse" border="0" width="100%"> <tr> <td valign="top" align="left" width="1%">(i) </td> <td valign="top" align="left"> Includes foreign currency borrowings with fair values of $1.1 billion at December 31, 2009 and $1.6 billion at December 31, 2008, which are used as hedging instruments.</td></tr></table> <table cellpadding="0" cellspacing="0" style="BORDER-COLLAPSE: collapse" border="0" width="100%"> <tr> <td valign="top" align="left" width="1%">(j) </td> <td valign="top" align="left"> Includes foreign currency debt with fair values of $2.1 billion at December 31, 2009 and December 31, 2008, which is used as a hedging instrument. </td></tr></table> <table cellpadding="0" cellspacing="0" style="BORDER-COLLAPSE: collapse" border="0" width="100%"> <tr> <td valign="top" align="left" width="1%">(k) </td> <td valign="top" align="left"> The fair value of our long-term debt is $46.2 billion at December 31, 2009 and $8.2 billion at December 31, 2008. </td></tr></table> The following methods and assumptions were used to estimate the fair value of our financial assets and liabilities:   <table cellpadding="0" cellspacing="0" style="BORDER-COLLAPSE: collapse" border="0" width="100%"> <tr> <td valign="top" align="left" width="1%">•</td> <td valign="top" width="1%"> </td> <td valign="top" align="left"> Trading equity securities—quoted market prices. </td></tr></table>   <table cellpadding="0" cellspacing="0" style="BORDER-COLLAPSE: collapse" border="0" width="100%"> <tr> <td valign="top" align="left" width="1%">•</td> <td valign="top" width="1%"> </td> <td valign="top" align="left"> Trading debt securities—observable market interest rates. </td></tr></table>   <table cellpadding="0" cellspacing="0" style="BORDER-COLLAPSE: collapse" border="0" width="100%"> <tr> <td valign="top" align="left" width="1%">•</td> <td valign="top" width="1%"> </td> <td valign="top" align="left"> Available-for-sale debt securities—matrix-pricing model using observable market quotes and credit ratings. </td></tr></table>   <table cellpadding="0" cellspacing="0" style="BORDER-COLLAPSE: collapse" border="0" width="100%"> <tr> <td valign="top" align="left" width="1%">•</td> <td valign="top" width="1%"> </td> <td valign="top" align="left"> Available-for-sale money market funds—observable prices. </td></tr></table>   <table cellpadding="0" cellspacing="0" style="BORDER-COLLAPSE: collapse" border="0" width="100%"> <tr> <td valign="top" align="left" width="1%">•</td> <td valign="top" width="1%"> </td> <td valign="top" align="left"> Available-for-sale equity securities, excluding money market funds––pricing services that principally use a composite of observable prices. </td></tr></table>   <table cellpadding="0" cellspacing="0" style="BORDER-COLLAPSE: collapse" border="0" width="100%"> <tr> <td valign="top" align="left" width="1%">•</td> <td valign="top" width="1%"> </td> <td valign="top" align="left"> Derivative financial instruments (assets and liabilities)––matrix-pricing model using observable market quotes and credit ratings. </td></tr></table>   <table cellpadding="0" cellspacing="0" style="BORDER-COLLAPSE: collapse" border="0" width="100%"> <tr> <td valign="top" align="left" width="1%">•</td> <td valign="top" width="1%"> </td> <td valign="top" align="left"> Held-to-maturity debt securities—matrix-pricing model using observable market quotes and credit ratings. </td></tr></table>   <table cellpadding="0" cellspacing="0" style="BORDER-COLLAPSE: collapse" border="0" width="100%"> <tr> <td valign="top" align="left" width="1%">•</td> <td valign="top" width="1%"> </td> <td valign="top" align="left"> Short-term and long-term loans—discounted future cash flows using current rates at which similar loans would be made to borrowers with similar credit ratings and for the same remaining maturities. </td></tr></table>   <table cellpadding="0" cellspacing="0" style="BORDER-COLLAPSE: collapse" border="0" width="100%"> <tr> <td valign="top" align="left" width="1%">•</td> <td valign="top" width="1%"> </td> <td valign="top" align="left"> Private equity securities—application of the implied volatility associated with an observable biotech index to the carrying amount of our portfolio and, to a lesser extent, performance multiples of comparable securities adjusted for company-specific information. </td></tr></table>   <table cellpadding="0" cellspacing="0" style="BORDER-COLLAPSE: collapse" border="0" width="100%"> <tr> <td valign="top" align="left" width="1%">•</td> <td valign="top" width="1%"> </td> <td valign="top" align="left"> Short-term borrowings and long-term debt—matrix-pricing model using observable market quotes and our own credit rating. </td></tr></table> In addition, we have long-term receivables where the determination of fair value uses discounted future cash flows, using current rates at which similar loans would be made to borrowers with similar credit ratings and for the same remaining maturities. These selected financial assets and liabilities are in the following captions in the consolidated balance sheets as follows:   <table cellpadding="0" cellspacing="0" align="center" border="0" width="100%"> <tr> <td width="81%"/> <td valign="bottom" width="3%"/> <td/> <td/> <td/> <td valign="bottom" width="4%"/> <td/> <td/> <td valign="bottom" width="3%"/> <td/></tr> <tr> <td style="BORDER-TOP: #000000 1px solid" valign="bottom">  </td> <td style="BORDER-TOP: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" valign="bottom">  </td> <td style="BORDER-TOP: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" valign="bottom" align="center" colspan="8">AS OF DECEMBER 31,</td></tr> <tr> <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom">(MILLIONS OF DOLLARS)</td> <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" bgcolor="#bfbfbf">  </td> <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" align="right" colspan="2" bgcolor="#bfbfbf">2009</td> <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" bgcolor="#bfbfbf"> </td> <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" bgcolor="#ffffff">  </td> <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" align="right" colspan="2" bgcolor="#ffffff">2008</td> <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" bgcolor="#ffffff"> </td> <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" bgcolor="#ffffff">  </td></tr> <tr> <td valign="bottom"/> <td valign="bottom" bgcolor="#bfbfbf">  </td> <td valign="bottom" bgcolor="#bfbfbf"/> <td valign="bottom" bgcolor="#bfbfbf"/> <td valign="bottom" bgcolor="#bfbfbf"/> <td valign="bottom">  </td> <td valign="bottom"/> <td valign="bottom"/> <td valign="bottom"> </td> <td valign="bottom"/></tr> <tr> <td valign="bottom">Assets</td> <td valign="bottom" bgcolor="#bfbfbf">  </td> <td valign="bottom" bgcolor="#bfbfbf"/> <td valign="bottom" bgcolor="#bfbfbf"/> <td valign="bottom" bgcolor="#bfbfbf"/> <td valign="bottom">  </td> <td valign="bottom"/> <td valign="bottom"/> <td valign="bottom"> </td> <td valign="bottom"/></tr> <tr> <td valign="top"> Cash and cash equivalents</td> <td valign="bottom" bgcolor="#bfbfbf">  </td> <td valign="bottom" bgcolor="#bfbfbf">$</td> <td valign="bottom" align="right" bgcolor="#bfbfbf">666</td> <td valign="bottom" nowrap="nowrap" bgcolor="#bfbfbf">     </td> <td valign="bottom">  </td> <td valign="bottom">$</td> <td valign="bottom" align="right">1,980</td> <td valign="bottom"> </td> <td valign="bottom"/></tr> <tr> <td valign="top"> Short-term investments</td> <td valign="bottom" bgcolor="#bfbfbf">  </td> <td valign="bottom" bgcolor="#bfbfbf"> </td> <td valign="bottom" align="right" bgcolor="#bfbfbf">23,991</td> <td valign="bottom" nowrap="nowrap" bgcolor="#bfbfbf">  </td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">21,609</td> <td valign="bottom"> </td> <td valign="bottom"/></tr> <tr> <td valign="top"> Short-term loans</td> <td valign="bottom" bgcolor="#bfbfbf">  </td> <td valign="bottom" bgcolor="#bfbfbf"> </td> <td valign="bottom" align="right" bgcolor="#bfbfbf">1,195</td> <td valign="bottom" nowrap="nowrap" bgcolor="#bfbfbf">  </td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">824</td> <td valign="bottom"> </td> <td valign="bottom"/></tr> <tr> <td valign="top"> Long-term investments and loans</td> <td valign="bottom" bgcolor="#bfbfbf">  </td> <td valign="bottom" bgcolor="#bfbfbf"> </td> <td valign="bottom" align="right" bgcolor="#bfbfbf">13,122</td> <td valign="bottom" nowrap="nowrap" bgcolor="#bfbfbf">  </td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">11,478</td> <td valign="bottom"> </td> <td valign="bottom"/></tr> <tr> <td valign="top"> Current deferred tax assets and other current assets(a) </td> <td valign="bottom" bgcolor="#bfbfbf">  </td> <td valign="bottom" bgcolor="#bfbfbf"> </td> <td valign="bottom" align="right" bgcolor="#bfbfbf">526</td> <td valign="bottom" nowrap="nowrap" bgcolor="#bfbfbf">  </td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">404</td> <td valign="bottom"> </td> <td valign="bottom"/></tr> <tr> <td style="BORDER-BOTTOM: #000000 1px solid" valign="top"> Noncurrent deferred tax assets and other noncurrent assets(b)</td> <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" bgcolor="#bfbfbf">  </td> <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" bgcolor="#bfbfbf"> </td> <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" align="right" bgcolor="#bfbfbf">1,050</td> <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" nowrap="nowrap" bgcolor="#bfbfbf">  </td> <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom">  </td> <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom"> </td> <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" align="right">855</td> <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom"> </td> <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom"> </td></tr> <tr> <td style="BORDER-BOTTOM: #000000 1px solid" valign="top"> Total</td> <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" bgcolor="#bfbfbf">  </td> <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" bgcolor="#bfbfbf">$</td> <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" align="right" bgcolor="#bfbfbf">40,550</td> <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" nowrap="nowrap" bgcolor="#bfbfbf">  </td> <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom">  </td> <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom">$</td> <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" align="right">37,150</td> <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom"> </td> <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom"> </td></tr> <tr> <td valign="bottom">Liabilities</td> <td valign="bottom" bgcolor="#bfbfbf">  </td> <td valign="bottom" bgcolor="#bfbfbf"/> <td valign="bottom" bgcolor="#bfbfbf"/> <td valign="bottom" bgcolor="#bfbfbf"/> <td valign="bottom">  </td> <td valign="bottom"/> <td valign="bottom"/> <td valign="bottom"> </td> <td valign="bottom"/></tr> <tr> <td valign="top"> Short-term borrowings</td> <td valign="bottom" bgcolor="#bfbfbf">  </td> <td valign="bottom" bgcolor="#bfbfbf">$</td> <td valign="bottom" align="right" bgcolor="#bfbfbf">5,469</td> <td valign="bottom" nowrap="nowrap" bgcolor="#bfbfbf">  </td> <td valign="bottom">  </td> <td valign="bottom">$</td> <td valign="bottom" align="right">9,320</td> <td valign="bottom"> </td> <td valign="bottom"/></tr> <tr> <td valign="top"> Current deferred tax liabilities and other current liabilities(c)</td> <td valign="bottom" bgcolor="#bfbfbf">  </td> <td valign="bottom" bgcolor="#bfbfbf"> </td> <td valign="bottom" align="right" bgcolor="#bfbfbf">369</td> <td valign="bottom" nowrap="nowrap" bgcolor="#bfbfbf">  </td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">1,119</td> <td valign="bottom"> </td> <td valign="bottom"/></tr> <tr> <td valign="top"> Long-term debt</td> <td valign="bottom" bgcolor="#bfbfbf">  </td> <td valign="bottom" bgcolor="#bfbfbf"> </td> <td valign="bottom" align="right" bgcolor="#bfbfbf">43,193</td> <td valign="bottom" nowrap="nowrap" bgcolor="#bfbfbf">  </td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">7,963</td> <td valign="bottom"> </td> <td valign="bottom"/></tr> <tr> <td style="BORDER-BOTTOM: #000000 1px solid" valign="top"> Other noncurrent liabilities(d)</td> <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" bgcolor="#bfbfbf">  </td> <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" bgcolor="#bfbfbf"> </td> <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" align="right" bgcolor="#bfbfbf">421</td> <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" nowrap="nowrap" bgcolor="#bfbfbf">  </td> <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom">  </td> <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom"> </td> <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" align="right">124</td> <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom"> </td> <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom"> </td></tr> <tr> <td valign="top"> Total</td> <td valign="bottom" bgcolor="#bfbfbf">  </td> <td valign="bottom" bgcolor="#bfbfbf">$</td> <td valign="bottom" align="right" bgcolor="#bfbfbf">49,452</td> <td valign="bottom" nowrap="nowrap" bgcolor="#bfbfbf">  </td> <td valign="bottom">  </td> <td valign="bottom">$</td> <td valign="bottom" align="right">18,526</td> <td valign="bottom"> </td> <td valign="bottom"/></tr> <tr style="FONT-SIZE: 1px"> <td style="BORDER-TOP: #000000 3px double" valign="bottom" colspan="10"> </td></tr></table>   <table cellpadding="0" cellspacing="0" style="BORDER-COLLAPSE: collapse" border="0" width="100%"> <tr> <td valign="top" align="left" width="1%">(a) </td> <td valign="top" align="left"> At December 31, 2009, derivative instruments at fair value include foreign currency forward-exchange contracts ($503 million) and foreign currency swaps ($23 million) and at December 31, 2008, includes foreign currency forward-exchange contracts ($398 million), interest rate swaps ($4 million) and foreign currency swaps ($2 million). </td></tr></table> <table cellpadding="0" cellspacing="0" style="BORDER-COLLAPSE: collapse" border="0" width="100%"> <tr> <td valign="top" align="left" width="1%">(b) </td> <td valign="top" align="left"> At December 31, 2009, derivative instruments at fair value include foreign currency swaps ($774 million) and interest rate swaps ($276 million) and at December 31, 2008, includes interest rate swaps ($729 million) and foreign currency swaps ($126 million). </td></tr></table> <table cellpadding="0" cellspacing="0" style="BORDER-COLLAPSE: collapse" border="0" width="100%"> <tr> <td valign="top" align="left" width="1%">(c) </td> <td valign="top" align="left"> At December 31, 2009, derivative instruments at fair value include foreign currency forward-exchange contracts ($237 million) and foreign currency swaps ($132 million) and at December 31, 2008, includes foreign currency forward-exchange contracts ($1.1 billion) and foreign currency swaps ($36 million). </td></tr></table> <table cellpadding="0" cellspacing="0" style="BORDER-COLLAPSE: collapse" border="0" width="100%"> <tr> <td valign="top" align="left" width="1%">(d) </td> <td valign="top" align="left"> At December 31, 2009, derivative instruments at fair value include foreign currency swaps ($396 million) and interest rate swaps ($25 million) and at December 31, 2008, includes foreign currency swaps ($117 million) and interest rate swaps ($7 million). </td></tr></table> We regularly evaluate all of our financial assets for impairment. For investments in debt and equity securities, when a decline in fair value, if any, is determined to be other-than-temporary, an impairment charge is recorded, and a new cost basis in the investment is established. For loans, an impairment charge is recorded if it is probable that we will not be able to collect all amounts due according to the loan agreement. There were no significant impairments recognized in 2009, 2008 or 2007. B. Investments in Debt and Equity Securities The contractual maturities of the available-for-sale and held-to-maturity debt securities as of December 31, 2009, follow:   <table cellspacing="0" cellpadding="0" align="center" border="0" width="100%"> <tr> <td width="77%"/> <td valign="bottom" width="3%"/> <td/> <td/> <td valign="bottom" width="3%"/> <td/> <td/> <td valign="bottom" width="3%"/> <td/> <td/></tr> <tr> <td style="BORDER-TOP: #000000 1px solid" valign="bottom">  </td> <td style="BORDER-TOP: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" valign="bottom">  </td> <td style="BORDER-TOP: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" valign="bottom" align="center" colspan="8">YEARS</td></tr> <tr> <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom">(MILLIONS OF DOLLARS)</td> <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom">  </td> <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" align="right" colspan="2">WITHIN 1</td> <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom">  </td> <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" align="right" colspan="2">OVER 1 TO 5</td> <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom">  </td> <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" align="right" colspan="2">TOTAL</td></tr> <tr> <td valign="top"> Available-for-sale debt securities:</td> <td valign="bottom">  </td> <td valign="bottom"/> <td valign="bottom"/> <td valign="bottom">  </td> <td valign="bottom"/> <td valign="bottom"/> <td valign="bottom">  </td> <td valign="bottom"/> <td valign="bottom"/></tr> <tr> <td valign="top"> Western European and other government debt</td> <td valign="bottom">  </td> <td valign="bottom">$</td> <td valign="bottom" align="right">16,612</td> <td valign="bottom">  </td> <td valign="bottom">$</td> <td valign="bottom" align="right">2,494</td> <td valign="bottom">  </td> <td valign="bottom">$</td> <td valign="bottom" align="right">19,106</td></tr> <tr> <td valign="top"> Western European and other government agency debt</td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">2,578</td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">595</td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">3,173</td></tr> <tr> <td valign="top"> Federal Home Loan Mortgage Corporation and Federal National Mortgage Association</td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">102</td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">2,815</td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">2,917</td></tr> <tr> <td valign="top"> Corporate debt</td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">1,001</td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">1,877</td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">2,878</td></tr> <tr> <td valign="top"> U.S. government Federal Deposit Insurance Corporation guaranteed debt</td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">—  </td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">1,753</td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">1,753</td></tr> <tr> <td valign="top"> Supranational debt</td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">968</td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">335</td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">1,303</td></tr> <tr> <td valign="top"> Reverse repurchase agreements(a)</td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">1,018</td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">—  </td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">1,018</td></tr> <tr> <td valign="top"> Other asset-backed securities</td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">37</td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">97</td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">134</td></tr> <tr> <td valign="top"> Certificates of deposit</td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">56</td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">—  </td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">56</td></tr> <tr> <td valign="top"> Held-to-maturity debt securities:</td> <td valign="bottom">  </td> <td valign="bottom"/> <td valign="bottom"/> <td valign="bottom">  </td> <td valign="bottom"/> <td valign="bottom"/> <td valign="bottom">  </td> <td valign="bottom"/> <td valign="bottom"/></tr> <tr> <td style="BORDER-BOTTOM: #000000 1px solid" valign="top"> Certificates of deposit and other</td> <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom">  </td> <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom"> </td> <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" align="right">806</td> <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom">  </td> <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom"> </td> <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" align="right">6</td> <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom">  </td> <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom"> </td> <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" align="right">812</td></tr> <tr> <td valign="top"> Total debt securities</td> <td valign="bottom">  </td> <td valign="bottom">$</td> <td valign="bottom" align="right">23,178</td> <td valign="bottom">  </td> <td valign="bottom">$</td> <td valign="bottom" align="right">9,972</td> <td valign="bottom">  </td> <td valign="bottom">$</td> <td valign="bottom" align="right">33,150</td></tr> <tr> <td valign="top"> Trading securities</td> <td valign="bottom">  </td> <td valign="bottom"/> <td valign="bottom"/> <td valign="bottom">  </td> <td valign="bottom"/> <td valign="bottom"/> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">184</td></tr> <tr> <td valign="top"> Available-for-sale money market funds(b)</td> <td valign="bottom">  </td> <td valign="bottom"/> <td valign="bottom"/> <td valign="bottom">  </td> <td valign="bottom"/> <td valign="bottom"/> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">2,569</td></tr> <tr> <td style="BORDER-BOTTOM: #000000 1px solid" valign="top"> Available-for-sale equity securities, excluding money market funds</td> <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom">  </td> <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom"> </td> <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom"> </td> <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom">  </td> <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom"> </td> <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom"> </td> <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom">  </td> <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom"> </td> <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" align="right">281</td></tr> <tr> <td valign="top"> Total</td> <td valign="bottom">  </td> <td valign="bottom"/> <td valign="bottom"/> <td valign="bottom">  </td> <td valign="bottom"/> <td valign="bottom"/> <td valign="bottom">  </td> <td valign="bottom">$</td> <td valign="bottom" align="right">36,184</td></tr> <tr style="FONT-SIZE: 1px"> <td style="BORDER-TOP: #000000 3px double" valign="bottom" colspan="10"> </td></tr></table>   <table cellpadding="0" cellspacing="0" style="BORDER-COLLAPSE: collapse" border="0" width="100%"> <tr> <td valign="top" align="left" width="1%">(a)</td> <td valign="top" align="left"> Involving U.S. government securities. </td></tr></table> <table cellpadding="0" cellspacing="0" style="BORDER-COLLAPSE: collapse" border="0" width="100%"> <tr> <td valign="top" align="left" width="1%">(b)</td> <td valign="top" align="left"> Consisting of securities issued by the U.S. government and its agencies or instrumentalities and reverse repurchase agreements involving the same investments held. </td></tr></table> C. Short-Term Borrowings Short-term borrowings include amounts for commercial paper of $3.9 billion as of December 31, 2009, and $7.8 billion as of December 31, 2008. The weighted-average effective interest rate on short-term borrowings outstanding was 0.7% as of December 31, 2009, and 1.9% as of December 31, 2008. As of December 31, 2009, we had access to $8.6 billion of lines of credit, of which $6.4 billion expire within one year. Of these lines of credit, $8.5 billion are unused, of which our lenders have committed to loan us $7.1 billion at our request. Also, $7.0 billion of our unused lines of credit, of which $5.0 billion expire in late 2010 and $2.0 billion expire in 2013, may be used to support our commercial paper borrowings. D. Long-Term Debt We issued long-term debt in the first and second quarters of 2009, virtually all of the proceeds of which were used to partially finance our acquisition of Wyeth on October 15, 2009. Also, our long-term debt increased due to the addition of an aggregate principal amount of $10.3 billion of legacy Wyeth debt. On October 30, 2009, Pfizer Inc. issued an unconditional and irrevocable guarantee of the prompt payment, when due, of any amounts owed in respect of an aggregate principal amount of $10.3 billion of such debt. The guarantee is an unsecured unsubordinated obligation of Pfizer Inc. The legacy Wyeth debt has a weighted-average maturity of approximately 11 years, ranging from 2011 through 2037. Additional information about our long-term debt, including legacy Wyeth debt follows:   <table cellspacing="0" cellpadding="0" align="center" border="0" width="100%"> <tr> <td width="70%"/> <td valign="bottom" width="3%"/> <td/> <td/> <td valign="bottom" width="3%"/> <td/> <td/> <td/> <td valign="bottom" width="3%"/> <td/> <td/> <td valign="bottom" width="3%"/> <td/></tr> <tr> <td style="BORDER-TOP: #000000 1px solid" valign="bottom">  </td> <td style="BORDER-TOP: #000000 1px solid" valign="bottom">  </td> <td style="BORDER-TOP: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" rowspan="2" valign="bottom" align="right"> MATURITY DATE</td> <td style="BORDER-TOP: #000000 1px solid" rowspan="2" valign="bottom"> </td> <td style="BORDER-TOP: #000000 1px solid" valign="bottom"> </td> <td style="BORDER-TOP: #000000 1px solid" valign="bottom" align="right" colspan="6">AS OF DECEMBER 31,</td> <td style="BORDER-TOP: #000000 1px solid" valign="bottom"> </td> <td style="BORDER-TOP: #000000 1px solid" valign="bottom">  </td></tr> <tr> <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom">(MILLIONS OF DOLLARS)</td> <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom">  </td> <td style="BORDER-TOP: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" valign="bottom" bgcolor="#bfbfbf"> </td> <td style="BORDER-TOP: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" valign="bottom" align="right" colspan="2" bgcolor="#bfbfbf">2009</td> <td style="BORDER-TOP: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" valign="bottom" bgcolor="#bfbfbf"> </td> <td style="BORDER-TOP: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" valign="bottom"> </td> <td style="BORDER-TOP: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" valign="bottom" align="right" colspan="2">2008</td> <td style="BORDER-TOP: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" valign="bottom"> </td> <td style="BORDER-TOP: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" valign="bottom">  </td></tr> <tr> <td valign="top"> Senior unsecured notes:</td> <td valign="bottom">  </td> <td valign="bottom"/> <td valign="bottom"/> <td valign="bottom" bgcolor="#bfbfbf"> </td> <td valign="bottom" bgcolor="#bfbfbf"/> <td valign="bottom" bgcolor="#bfbfbf"/> <td valign="bottom" bgcolor="#bfbfbf"/> <td valign="bottom"> </td> <td valign="bottom"/> <td valign="bottom"/> <td valign="bottom"> </td> <td valign="bottom"/></tr> <tr> <td valign="top"> Issued on March 24, 2009:</td> <td valign="bottom">  </td> <td valign="bottom"/> <td valign="bottom"/> <td valign="bottom" bgcolor="#bfbfbf"> </td> <td valign="bottom" bgcolor="#bfbfbf"/> <td valign="bottom" bgcolor="#bfbfbf"/> <td valign="bottom" bgcolor="#bfbfbf"/> <td valign="bottom"> </td> <td valign="bottom"/> <td valign="bottom"/> <td valign="bottom"> </td> <td valign="bottom"/></tr> <tr> <td valign="top"> 4.45%(a)</td> <td valign="bottom">  </td> <td valign="bottom" align="right">March 2012</td> <td valign="bottom" nowrap="nowrap">     </td> <td valign="bottom" bgcolor="#bfbfbf"> </td> <td valign="bottom" bgcolor="#bfbfbf">$</td> <td valign="bottom" align="right" bgcolor="#bfbfbf">3,510</td> <td valign="bottom" nowrap="nowrap" bgcolor="#bfbfbf">     </td> <td valign="bottom"> </td> <td valign="bottom">$</td> <td valign="bottom" align="right">—</td> <td valign="bottom"> </td> <td valign="bottom"/></tr> <tr> <td valign="top"> 6.20%(a)</td> <td valign="bottom">  </td> <td valign="bottom" align="right">March 2019</td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom" bgcolor="#bfbfbf"> </td> <td valign="bottom" bgcolor="#bfbfbf"> </td> <td valign="bottom" align="right" bgcolor="#bfbfbf">3,247</td> <td valign="bottom" nowrap="nowrap" bgcolor="#bfbfbf">  </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">—</td> <td valign="bottom"> </td> <td valign="bottom"/></tr> <tr> <td valign="top"> 5.35%(a)</td> <td valign="bottom">  </td> <td valign="bottom" align="right">March 2015</td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom" bgcolor="#bfbfbf"> </td> <td valign="bottom" bgcolor="#bfbfbf"> </td> <td valign="bottom" align="right" bgcolor="#bfbfbf">2,997</td> <td valign="bottom" nowrap="nowrap" bgcolor="#bfbfbf">  </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">—</td> <td valign="bottom"> </td> <td valign="bottom"/></tr> <tr> <td valign="top"> 7.20%(a)</td> <td valign="bottom">  </td> <td valign="bottom" align="right">March 2039</td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom" bgcolor="#bfbfbf"> </td> <td valign="bottom" bgcolor="#bfbfbf"> </td> <td valign="bottom" align="right" bgcolor="#bfbfbf">2,455</td> <td valign="bottom" nowrap="nowrap" bgcolor="#bfbfbf">  </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">—</td> <td valign="bottom"> </td> <td valign="bottom"/></tr> <tr> <td valign="top"> Floating rate notes at the three-month London Interbank Offering Rate (LIBOR), plus 1.95%</td> <td valign="bottom">  </td> <td valign="bottom" align="right">March 2011</td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom" bgcolor="#bfbfbf"> </td> <td valign="bottom" bgcolor="#bfbfbf"> </td> <td valign="bottom" align="right" bgcolor="#bfbfbf">1,250</td> <td valign="bottom" nowrap="nowrap" bgcolor="#bfbfbf">  </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">—</td> <td valign="bottom"> </td> <td valign="bottom"/></tr> <tr> <td valign="top"> Issued on June 3, 2009:</td> <td valign="bottom">  </td> <td valign="bottom"/> <td valign="bottom"/> <td valign="bottom" bgcolor="#bfbfbf"> </td> <td valign="bottom" bgcolor="#bfbfbf"/> <td valign="bottom" bgcolor="#bfbfbf"/> <td valign="bottom" bgcolor="#bfbfbf"/> <td valign="bottom"> </td> <td valign="bottom"/> <td valign="bottom"/> <td valign="bottom"> </td> <td valign="bottom"/></tr> <tr> <td valign="top"> 4.75% euro(b)</td> <td valign="bottom">  </td> <td valign="bottom" align="right">June 2016</td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom" bgcolor="#bfbfbf"> </td> <td valign="bottom" bgcolor="#bfbfbf"> </td> <td valign="bottom" align="right" bgcolor="#bfbfbf">2,867</td> <td valign="bottom" nowrap="nowrap" bgcolor="#bfbfbf">  </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">—</td> <td valign="bottom"> </td> <td valign="bottom"/></tr> <tr> <td valign="top"> 5.75% euro(b)</td> <td valign="bottom">  </td> <td valign="bottom" align="right">June 2021</td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom" bgcolor="#bfbfbf"> </td> <td valign="bottom" bgcolor="#bfbfbf"> </td> <td valign="bottom" align="right" bgcolor="#bfbfbf">2,865</td> <td valign="bottom" nowrap="nowrap" bgcolor="#bfbfbf">  </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">—</td> <td valign="bottom"> </td> <td valign="bottom"/></tr> <tr> <td valign="top"> 3.625% euro(b)</td> <td valign="bottom">  </td> <td valign="bottom" align="right">June 2013</td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom" bgcolor="#bfbfbf"> </td> <td valign="bottom" bgcolor="#bfbfbf"> </td> <td valign="bottom" align="right" bgcolor="#bfbfbf">2,653</td> <td valign="bottom" nowrap="nowrap" bgcolor="#bfbfbf">  </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">—</td> <td valign="bottom"> </td> <td valign="bottom"/></tr> <tr> <td valign="top"> 6.50% U.K. pound(b)</td> <td valign="bottom">  </td> <td valign="bottom" align="right">June 2038</td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom" bgcolor="#bfbfbf"> </td> <td valign="bottom" bgcolor="#bfbfbf"> </td> <td valign="bottom" align="right" bgcolor="#bfbfbf">2,408</td> <td valign="bottom" nowrap="nowrap" bgcolor="#bfbfbf">  </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">—</td> <td valign="bottom"> </td> <td valign="bottom"/></tr> <tr> <td valign="top"> Legacy Wyeth debt:</td> <td valign="bottom">  </td> <td valign="bottom"/> <td valign="bottom"/> <td valign="bottom" bgcolor="#bfbfbf"> </td> <td valign="bottom" bgcolor="#bfbfbf"/> <td valign="bottom" bgcolor="#bfbfbf"/> <td valign="bottom" bgcolor="#bfbfbf"/> <td valign="bottom"> </td> <td valign="bottom"/> <td valign="bottom"/> <td valign="bottom"> </td> <td valign="bottom"/></tr> <tr> <td valign="top"> 5.95%</td> <td valign="bottom">  </td> <td valign="bottom" align="right">April 2037</td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom" bgcolor="#bfbfbf"> </td> <td valign="bottom" bgcolor="#bfbfbf"> </td> <td valign="bottom" align="right" bgcolor="#bfbfbf">2,091</td> <td valign="bottom" nowrap="nowrap" bgcolor="#bfbfbf">  </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">—</td> <td valign="bottom"> </td> <td valign="bottom"/></tr> <tr> <td valign="top"> 5.50%</td> <td valign="bottom">  </td> <td valign="bottom" align="right">February 2014</td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom" bgcolor="#bfbfbf"> </td> <td valign="bottom" bgcolor="#bfbfbf"> </td> <td valign="bottom" align="right" bgcolor="#bfbfbf">1,912</td> <td valign="bottom" nowrap="nowrap" bgcolor="#bfbfbf">  </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">—</td> <td valign="bottom"> </td> <td valign="bottom"/></tr> <tr> <td valign="top"> 5.50%</td> <td valign="bottom">  </td> <td valign="bottom" align="right">March 2013</td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom" bgcolor="#bfbfbf"> </td> <td valign="bottom" bgcolor="#bfbfbf"> </td> <td valign="bottom" align="right" bgcolor="#bfbfbf">1,617</td> <td valign="bottom" nowrap="nowrap" bgcolor="#bfbfbf">  </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">—</td> <td valign="bottom"> </td> <td valign="bottom"/></tr> <tr> <td valign="top"> 6.95%</td> <td valign="bottom">  </td> <td valign="bottom" align="right">March 2011</td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom" bgcolor="#bfbfbf"> </td> <td valign="bottom" bgcolor="#bfbfbf"> </td> <td valign="bottom" align="right" bgcolor="#bfbfbf">1,570</td> <td valign="bottom" nowrap="nowrap" bgcolor="#bfbfbf">  </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">—</td> <td valign="bottom"> </td> <td valign="bottom"/></tr> <tr> <td valign="top"> 5.50%</td> <td valign="bottom">  </td> <td valign="bottom" align="right">February 2016</td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom" bgcolor="#bfbfbf"> </td> <td valign="bottom" bgcolor="#bfbfbf"> </td> <td valign="bottom" align="right" bgcolor="#bfbfbf">1,087</td> <td valign="bottom" nowrap="nowrap" bgcolor="#bfbfbf">  </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">—</td> <td valign="bottom"> </td> <td valign="bottom"/></tr> <tr> <td valign="top"> Notes and other debt with a weighted-average interest rate of 6.21%(c)</td> <td valign="bottom">  </td> <td valign="bottom" align="right">2011–2036</td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom" bgcolor="#bfbfbf"> </td> <td valign="bottom" bgcolor="#bfbfbf"> </td> <td valign="bottom" align="right" bgcolor="#bfbfbf">2,869</td> <td valign="bottom" nowrap="nowrap" bgcolor="#bfbfbf">  </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">—</td> <td valign="bottom"> </td> <td valign="bottom"/></tr> <tr> <td valign="top"> Other:</td> <td valign="bottom">  </td> <td valign="bottom"/> <td valign="bottom"/> <td valign="bottom" bgcolor="#bfbfbf"> </td> <td valign="bottom" bgcolor="#bfbfbf"/> <td valign="bottom" bgcolor="#bfbfbf"/> <td valign="bottom" bgcolor="#bfbfbf"/> <td valign="bottom"> </td> <td valign="bottom"/> <td valign="bottom"/> <td valign="bottom"> </td> <td valign="bottom"/></tr> <tr> <td valign="top"> 4.55% euro</td> <td valign="bottom">  </td> <td valign="bottom" align="right">May 2017</td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom" bgcolor="#bfbfbf"> </td> <td valign="bottom" bgcolor="#bfbfbf"> </td> <td valign="bottom" align="right" bgcolor="#bfbfbf">1,391</td> <td valign="bottom" nowrap="nowrap" bgcolor="#bfbfbf">  </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">1,312</td> <td valign="bottom"> </td> <td valign="bottom"/></tr> <tr> <td valign="top"> 4.75% euro</td> <td valign="bottom">  </td> <td valign="bottom" align="right">December 2014</td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom" bgcolor="#bfbfbf"> </td> <td valign="bottom" bgcolor="#bfbfbf"> </td> <td valign="bottom" align="right" bgcolor="#bfbfbf">1,385</td> <td valign="bottom" nowrap="nowrap" bgcolor="#bfbfbf">  </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">1,311</td> <td valign="bottom"> </td> <td valign="bottom"/></tr> <tr> <td style="BORDER-BOTTOM: #000000 1px solid" valign="top"> Debentures, notes, borrowings and mortgages with a weighted-average interest rate of approximately 4.17%(d)</td> <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom">  </td> <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" align="right">2011–2028</td> <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" nowrap="nowrap">  </td> <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" bgcolor="#bfbfbf"> </td> <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" bgcolor="#bfbfbf"> </td> <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" align="right" bgcolor="#bfbfbf">5,019</td> <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" nowrap="nowrap" bgcolor="#bfbfbf">  </td> <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom"> </td> <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom"> </td> <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" align="right">5,340</td> <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom"> </td> <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom"> </td></tr> <tr> <td style="BORDER-BOTTOM: #000000 1px solid" valign="top"> Total long-term debt</td> <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom">  </td> <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom"> </td> <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom"> </td> <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" bgcolor="#bfbfbf"> </td> <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" bgcolor="#bfbfbf">$</td> <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" align="right" bgcolor="#bfbfbf">43,193</td> <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" nowrap="nowrap" bgcolor="#bfbfbf">  </td> <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom"> </td> <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom">$</td> <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" align="right">7,963</td> <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom"> </td> <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom"> </td></tr> <tr> <td valign="top"> Current portion not included above</td> <td valign="bottom">  </td> <td valign="bottom"/> <td valign="bottom"/> <td valign="bottom" bgcolor="#bfbfbf"> </td> <td valign="bottom" bgcolor="#bfbfbf">$</td> <td valign="bottom" align="right" bgcolor="#bfbfbf">27</td> <td valign="bottom" nowrap="nowrap" bgcolor="#bfbfbf">  </td> <td valign="bottom"> </td> <td valign="bottom">$</td> <td valign="bottom" align="right">937</td> <td valign="bottom"> </td> <td valign="bottom"/></tr> <tr style="FONT-SIZE: 1px"> <td style="BORDER-TOP: #000000 3px double" valign="bottom" colspan="13"> </td></tr></table>   <table cellpadding="0" cellspacing="0" style="BORDER-COLLAPSE: collapse" border="0" width="100%"> <tr> <td valign="top" align="left" width="2%">(a) </td> <td valign="top" align="left"> Instrument is callable by us at any time at the greater of 100% of the principal amount or the sum of the present values of the remaining scheduled payments of principal and interest discounted at the U.S. Treasury rate plus 0.50% plus, in each case, accrued and unpaid interest. </td></tr></table> <table cellpadding="0" cellspacing="0" style="BORDER-COLLAPSE: collapse" border="0" width="100%"> <tr> <td valign="top" align="left" width="2%">(b) </td> <td valign="top" align="left"> Instrument is callable by us at any time at the greater of 100% of the principal amount or the sum of the present values of the remaining scheduled payments of principal and interest discounted at a comparable government bond rate plus 0.20% plus accrued and unpaid interest. </td></tr></table> <table cellpadding="0" cellspacing="0" style="BORDER-COLLAPSE: collapse" border="0" width="100%"> <tr> <td valign="top" align="left" width="2%">(c) </td> <td valign="top" align="left"> The weighted-average maturity of all other debt issuances is approximately 17 years. </td></tr></table> <table cellpadding="0" cellspacing="0" style="BORDER-COLLAPSE: collapse" border="0" width="100%"> <tr> <td valign="top" align="left" width="2%">(d) </td> <td valign="top" align="left"> The weighted-average maturity of all other debt issuances is approximately 8 years. </td></tr></table> Long-term debt outstanding as of December 31, 2009 matures in the following years:   <table cellpadding="0" cellspacing="0" align="center" border="0" width="100%"> <tr> <td width="61%"/> <td valign="bottom" width="5%"/> <td/> <td/> <td valign="bottom" width="5%"/> <td/> <td/> <td valign="bottom" width="5%"/> <td/> <td/> <td valign="bottom" width="5%"/> <td/> <td valign="bottom" width="5%"/> <td/> <td/> <td valign="bottom" width="1%"/> <td/></tr> <tr> <td style="BORDER-TOP: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" valign="bottom">(MILLIONS OF DOLLARS)</td> <td style="BORDER-TOP: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" valign="bottom">    </td> <td style="BORDER-TOP: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" valign="bottom" align="right" colspan="2">2011</td> <td style="BORDER-TOP: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" valign="bottom">    </td> <td style="BORDER-TOP: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" valign="bottom" align="right" colspan="2">2012</td> <td style="BORDER-TOP: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" valign="bottom">    </td> <td style="BORDER-TOP: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" valign="bottom" align="right" colspan="2">2013</td> <td style="BORDER-TOP: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" valign="bottom">    </td> <td style="BORDER-TOP: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" valign="bottom" align="right">2014</td> <td style="BORDER-TOP: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" valign="bottom">    </td> <td style="BORDER-TOP: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" valign="bottom" align="right" colspan="2">AFTER 2014</td> <td style="BORDER-TOP: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" valign="bottom"> </td> <td style="BORDER-TOP: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" valign="bottom">  </td></tr> <tr> <td valign="top"> Maturities</td> <td valign="bottom">    </td> <td valign="bottom">$</td> <td valign="bottom" align="right">4,137</td> <td valign="bottom">    </td> <td valign="bottom">$</td> <td valign="bottom" align="right">3,522</td> <td valign="bottom">    </td> <td valign="bottom">$</td> <td valign="bottom" align="right">4,278</td> <td valign="bottom">    </td> <td valign="bottom" align="right">$4,125</td> <td valign="bottom">    </td> <td valign="bottom">$</td> <td valign="bottom" align="right">27,131</td> <td valign="bottom"> </td> <td valign="bottom"/></tr> <tr style="FONT-SIZE: 1px"> <td style="BORDER-TOP: #000000 3px double" valign="bottom" colspan="17"> </td></tr></table> In March 2007, we filed a securities registration statement with the U.S. Securities and Exchange Commission (SEC). The registration statement was filed under the automatic shelf registration process available to “well-known seasoned issuers” and expires in March 2010. We can issue securities of various types under that registration statement at any time, subject to approval by our Board of Directors in certain circumstances. On March 24, 2009, in order to partially finance our acquisition of Wyeth, we issued $13.5 billion of senior unsecured notes under this registration statement. On June 3, 2009, also in order to partially finance the Wyeth acquisition, we issued approximately $10.5 billion of senior unsecured notes in a private placement pursuant to Regulation S under the Securities Act of 1933, as amended (Securities Act of 1933). The notes have not been and will not be registered under the Securities Act of 1933 and, subject to certain exceptions, may not be sold, offered or delivered within the United States or to, or for, the account or benefit of U.S. persons. E. Derivative Financial Instruments and Hedging Activities Foreign Exchange Risk—A significant portion of our revenues, earnings and net investments in foreign affiliates is exposed to changes in foreign exchange rates. We seek to manage our foreign exchange risk, in part, through operational means, including managing expected same-currency revenues in relation to same-currency costs and same-currency assets in relation to same-currency liabilities. Depending on market conditions, foreign exchange risk also is managed through the use of derivative financial instruments and foreign currency debt. These financial instruments serve to protect net income and net investments against the impact of the translation into U.S. dollars of certain foreign exchange-denominated transactions. The aggregate notional amount of foreign exchange derivative financial instruments hedging or offsetting foreign currency exposures is $50 billion. The derivative financial instruments primarily hedge or offset exposures in euro, Japanese yen and U.K. pound. All derivative contracts used to manage foreign currency risk are measured at fair value and are reported as assets or liabilities on the consolidated balance sheet. Changes in fair value are reported in earnings or deferred, depending on the nature and purpose of the financial instrument (offset or hedge relationship) and the effectiveness of the hedge relationships, as follows:   <table cellpadding="0" style="BORDER-COLLAPSE: collapse" cellspacing="0" border="0" width="100%"> <tr> <td valign="top" align="left" width="1%">•</td> <td valign="top" width="1%"> </td> <td valign="top" align="left"> We defer on the balance sheet the effective portion of the gains or losses on foreign currency forward-exchange contracts and foreign currency swaps that are designated as cash flow hedges and reclassify those amounts, as appropriate, into earnings in the same period or periods during which the hedged transaction affects earnings. </td></tr></table>   <table cellpadding="0" cellspacing="0" style="BORDER-COLLAPSE: collapse" border="0" width="100%"> <tr> <td valign="top" align="left" width="1%">•</td> <td valign="top" width="1%"> </td> <td valign="top" align="left"> We recognize the gains and losses on forward-exchange contracts and foreign currency swaps that are used to offset the same foreign currency assets or liabilities immediately into earnings along with the earnings impact of the items they generally offset. These contracts essentially take the opposite currency position of that reflected in the month-end balance sheet to counterbalance the effect of any currency movement. </td></tr></table>   <table cellpadding="0" cellspacing="0" style="BORDER-COLLAPSE: collapse" border="0" width="100%"> <tr> <td valign="top" align="left" width="1%">•</td> <td valign="top" width="1%"> </td> <td valign="top" align="left"> We recognize the gain and loss impact on foreign currency swaps designated as hedges of our net investments in earnings in three ways: over time––for the periodic net swap payments; immediately––to the extent of any change in the difference between the foreign exchange spot rate and forward rate; and upon sale or substantial liquidation of our net investments–to the extent of change in the foreign exchange spot rates. </td></tr></table>   <table cellpadding="0" cellspacing="0" style="BORDER-COLLAPSE: collapse" border="0" width="100%"> <tr> <td valign="top" align="left" width="1%">•</td> <td valign="top" width="1%"> </td> <td valign="top" align="left"> We defer on the balance sheet foreign exchange gains and losses related to foreign exchange-denominated debt designated as a hedge of our net investments in foreign subsidiaries and reclassify those amounts into earnings upon the sale or substantial liquidation of our net investments. </td></tr></table> Any ineffectiveness is recognized immediately into earnings. There was no significant ineffectiveness in 2009, 2008 or 2007. Interest Rate Risk—Our interest-bearing investments, loans and borrowings are subject to interest rate risk. We seek to invest and loan primarily on a short-term or variable-rate basis; however, in light of current market conditions, we currently borrow primarily on a long-term, fixed-rate basis. From time to time, depending on market conditions, we will change the profile of our outstanding debt by entering into derivative financial instruments like interest rate swaps. We entered into derivative financial instruments to hedge or offset the fixed interest rates on the hedged item, matching the amount and timing of the hedged item. The aggregate notional amount of interest rate derivative financial instruments is $6.2 billion. The derivative financial instruments hedge U.S. dollar, euro and U.K. pound fixed-rate debt. All derivative contracts used to manage interest rate risk are measured at fair value and reported as assets or liabilities on the consolidated balance sheet. Changes in fair value are reported in earnings, as follows: We recognize the gains and losses on interest rate swaps that are designated as fair value hedges in earnings upon the recognition of the change in fair value of the hedged risk. We recognize the offsetting earnings impact of fixed-rate debt attributable to the hedged risk also in earnings. Any ineffectiveness is recognized immediately into earnings. There was no significant ineffectiveness in 2009, 2008 or 2007. Information about gains/(losses) incurred to hedge or offset operational foreign exchange or interest rate risk is as follows:   <table cellspacing="0" cellpadding="0" align="center" border="0" width="100%"> <tr> <td width="84%"/> <td valign="bottom" width="14%"/> <td/> <td/> <td/></tr> <tr> <td style="BORDER-TOP: #000000 1px solid" valign="bottom">  </td> <td style="BORDER-TOP: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" valign="bottom" bgcolor="#bfbfbf">  </td> <td style="BORDER-TOP: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" valign="bottom" align="right" colspan="2" bgcolor="#bfbfbf">GAINS/(LOSSES)</td> <td style="BORDER-TOP: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" valign="bottom" bgcolor="#bfbfbf"> </td></tr> <tr> <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom">(MILLIONS OF DOLLARS)</td> <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" bgcolor="#bfbfbf">  </td> <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" align="right" colspan="2" bgcolor="#bfbfbf">YEAR ENDED DECEMBER 31, 2009</td> <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" bgcolor="#bfbfbf"> </td></tr> <tr> <td valign="top"> Derivative Financial Instruments in Fair Value Hedge Relationships</td> <td valign="bottom" bgcolor="#bfbfbf">  </td> <td valign="bottom" bgcolor="#bfbfbf"/> <td valign="bottom" bgcolor="#bfbfbf"/> <td valign="bottom" bgcolor="#bfbfbf"/></tr> <tr> <td valign="top"> Interest rate swaps</td> <td valign="bottom" bgcolor="#bfbfbf">  </td> <td valign="bottom" bgcolor="#bfbfbf"/> <td valign="bottom" bgcolor="#bfbfbf"/> <td valign="bottom" bgcolor="#bfbfbf"/></tr> <tr> <td valign="top"> Recognized in OID(a)</td> <td valign="bottom" bgcolor="#bfbfbf">  </td> <td valign="bottom" bgcolor="#bfbfbf">$</td> <td valign="bottom" align="right" bgcolor="#bfbfbf">(6</td> <td valign="bottom" nowrap="nowrap" bgcolor="#bfbfbf">) </td></tr> <tr> <td valign="top"> Foreign currency swaps</td> <td valign="bottom" bgcolor="#bfbfbf">  </td> <td valign="bottom" bgcolor="#bfbfbf"/> <td valign="bottom" bgcolor="#bfbfbf"/> <td valign="bottom" bgcolor="#bfbfbf"/></tr> <tr> <td style="BORDER-BOTTOM: #000000 1px solid" valign="top"> Recognized in OID(a) </td> <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" bgcolor="#bfbfbf">  </td> <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" bgcolor="#bfbfbf"> </td> <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" align="right" bgcolor="#bfbfbf">(3</td> <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" nowrap="nowrap" bgcolor="#bfbfbf">) </td></tr> <tr> <td valign="top"> Derivative Financial Instruments in Cash Flow Hedge Relationships</td> <td valign="bottom" bgcolor="#bfbfbf">  </td> <td valign="bottom" bgcolor="#bfbfbf"/> <td valign="bottom" bgcolor="#bfbfbf"/> <td valign="bottom" bgcolor="#bfbfbf"/></tr> <tr> <td valign="top"> U.S. Treasury interest rate locks</td> <td valign="bottom" bgcolor="#bfbfbf">  </td> <td valign="bottom" bgcolor="#bfbfbf"/> <td valign="bottom" bgcolor="#bfbfbf"/> <td valign="bottom" bgcolor="#bfbfbf"/></tr> <tr> <td valign="top"> Recognized in OID(a)</td> <td valign="bottom" bgcolor="#bfbfbf">  </td> <td valign="bottom" bgcolor="#bfbfbf">$</td> <td valign="bottom" align="right" bgcolor="#bfbfbf">(11</td> <td valign="bottom" nowrap="nowrap" bgcolor="#bfbfbf">) </td></tr> <tr> <td valign="top"> Recognized in OCI(a), (b)</td> <td valign="bottom" bgcolor="#bfbfbf">  </td> <td valign="bottom" bgcolor="#bfbfbf"> </td> <td valign="bottom" align="right" bgcolor="#bfbfbf">(16</td> <td valign="bottom" nowrap="nowrap" bgcolor="#bfbfbf">) </td></tr> <tr> <td valign="top"> Reclassified from OCI to OID(a), (b)</td> <td valign="bottom" bgcolor="#bfbfbf">  </td> <td valign="bottom" bgcolor="#bfbfbf"> </td> <td valign="bottom" align="right" bgcolor="#bfbfbf">—</td> <td valign="bottom" nowrap="nowrap" bgcolor="#bfbfbf">  </td></tr> <tr> <td valign="top"> Foreign currency swaps</td> <td valign="bottom" bgcolor="#bfbfbf">  </td> <td valign="bottom" bgcolor="#bfbfbf"/> <td valign="bottom" bgcolor="#bfbfbf"/> <td valign="bottom" bgcolor="#bfbfbf"/></tr> <tr> <td valign="top"> Recognized in OID(a)</td> <td valign="bottom" bgcolor="#bfbfbf">  </td> <td valign="bottom" bgcolor="#bfbfbf"> </td> <td valign="bottom" align="right" bgcolor="#bfbfbf">—</td> <td valign="bottom" nowrap="nowrap" bgcolor="#bfbfbf">  </td></tr> <tr> <td valign="top"> Recognized in OCI(a), (b)</td> <td valign="bottom" bgcolor="#bfbfbf">  </td> <td valign="bottom" bgcolor="#bfbfbf"> </td> <td valign="bottom" align="right" bgcolor="#bfbfbf">305</td> <td valign="bottom" nowrap="nowrap" bgcolor="#bfbfbf">  </td></tr> <tr> <td valign="top"> Reclassified from OCI to OID(a), (b)</td> <td valign="bottom" bgcolor="#bfbfbf">  </td> <td valign="bottom" bgcolor="#bfbfbf"> </td> <td valign="bottom" align="right" bgcolor="#bfbfbf">281</td> <td valign="bottom" nowrap="nowrap" bgcolor="#bfbfbf">  </td></tr> <tr> <td valign="top"> Foreign currency forward exchange contracts</td> <td valign="bottom" bgcolor="#bfbfbf">  </td> <td valign="bottom" bgcolor="#bfbfbf"/> <td valign="bottom" bgcolor="#bfbfbf"/> <td valign="bottom" bgcolor="#bfbfbf"/></tr> <tr> <td valign="top"> Recognized in OID(a)</td> <td valign="bottom" bgcolor="#bfbfbf">  </td> <td valign="bottom" bgcolor="#bfbfbf"> </td> <td valign="bottom" align="right" bgcolor="#bfbfbf">—</td> <td valign="bottom" nowrap="nowrap" bgcolor="#bfbfbf">  </td></tr> <tr> <td valign="top"> Recognized in OCI(a), (b)</td> <td valign="bottom" bgcolor="#bfbfbf">  </td> <td valign="bottom" bgcolor="#bfbfbf"> </td> <td valign="bottom" align="right" bgcolor="#bfbfbf">6</td> <td valign="bottom" nowrap="nowrap" bgcolor="#bfbfbf">  </td></tr> <tr> <td style="BORDER-BOTTOM: #000000 1px solid" valign="top"> Reclassified from OCI to OID(a), (b) </td> <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" bgcolor="#bfbfbf">  </td> <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" bgcolor="#bfbfbf"> </td> <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" align="right" bgcolor="#bfbfbf">18</td> <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" nowrap="nowrap" bgcolor="#bfbfbf">  </td></tr> <tr> <td valign="top"> Derivative Financial Instruments in Net Investment Hedge Relationships</td> <td valign="bottom" bgcolor="#bfbfbf">  </td> <td valign="bottom" bgcolor="#bfbfbf"/> <td valign="bottom" bgcolor="#bfbfbf"/> <td valign="bottom" bgcolor="#bfbfbf"/></tr> <tr> <td valign="top"> Foreign currency swaps</td> <td valign="bottom" bgcolor="#bfbfbf">  </td> <td valign="bottom" bgcolor="#bfbfbf"/> <td valign="bottom" bgcolor="#bfbfbf"/> <td valign="bottom" bgcolor="#bfbfbf"/></tr> <tr> <td valign="top"> Recognized in OID(a)</td> <td valign="bottom" bgcolor="#bfbfbf">  </td> <td valign="bottom" bgcolor="#bfbfbf">$</td> <td valign="bottom" align="right" bgcolor="#bfbfbf">(1</td> <td valign="bottom" nowrap="nowrap" bgcolor="#bfbfbf">) </td></tr> <tr> <td style="BORDER-BOTTOM: #000000 1px solid" valign="top"> Recognized in OCI(a), (b)</td> <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" bgcolor="#bfbfbf">  </td> <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" bgcolor="#bfbfbf"> </td> <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" align="right" bgcolor="#bfbfbf">17</td> <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" nowrap="nowrap" bgcolor="#bfbfbf">  </td></tr> <tr> <td valign="top"> Derivative Financial Instruments Not Designated as Hedges</td> <td valign="bottom" bgcolor="#bfbfbf">  </td> <td valign="bottom" bgcolor="#bfbfbf"/> <td valign="bottom" bgcolor="#bfbfbf"/> <td valign="bottom" bgcolor="#bfbfbf"/></tr> <tr> <td valign="top"> Foreign currency swaps</td> <td valign="bottom" bgcolor="#bfbfbf">  </td> <td valign="bottom" bgcolor="#bfbfbf"/> <td valign="bottom" bgcolor="#bfbfbf"/> <td valign="bottom" bgcolor="#bfbfbf"/></tr> <tr> <td valign="top"> Recognized in OID(a)</td> <td valign="bottom" bgcolor="#bfbfbf">  </td> <td valign="bottom" bgcolor="#bfbfbf">$</td> <td valign="bottom" align="right" bgcolor="#bfbfbf">22</td> <td valign="bottom" nowrap="nowrap" bgcolor="#bfbfbf">  </td></tr> <tr> <td valign="top"> Foreign currency forward-exchange contracts</td> <td valign="bottom" bgcolor="#bfbfbf">  </td> <td valign="bottom" bgcolor="#bfbfbf"/> <td valign="bottom" bgcolor="#bfbfbf"/> <td valign="bottom" bgcolor="#bfbfbf"/></tr> <tr> <td style="BORDER-BOTTOM: #000000 1px solid" valign="top"> Recognized in OID(a) </td> <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" bgcolor="#bfbfbf">  </td> <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" bgcolor="#bfbfbf"> </td> <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" align="right" bgcolor="#bfbfbf">(418</td> <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" nowrap="nowrap" bgcolor="#bfbfbf">) </td></tr> <tr> <td valign="top"> Non-Derivative Financial Instruments in Net Investment Hedge Relationships</td> <td valign="bottom" bgcolor="#bfbfbf">  </td> <td valign="bottom" bgcolor="#bfbfbf"/> <td valign="bottom" bgcolor="#bfbfbf"/> <td valign="bottom" bgcolor="#bfbfbf"/></tr> <tr> <td valign="top"> Foreign currency short-term borrowings</td> <td valign="bottom" bgcolor="#bfbfbf">  </td> <td valign="bottom" bgcolor="#bfbfbf"/> <td valign="bottom" bgcolor="#bfbfbf"/> <td valign="bottom" bgcolor="#bfbfbf"/></tr> <tr> <td valign="top"> Recognized in OID(a)</td> <td valign="bottom" bgcolor="#bfbfbf">  </td> <td valign="bottom" bgcolor="#bfbfbf">$</td> <td valign="bottom" align="right" bgcolor="#bfbfbf">—</td> <td valign="bottom" nowrap="nowrap" bgcolor="#bfbfbf">  </td></tr> <tr> <td valign="top"> Recognized in OCI(a), (b)</td> <td valign="bottom" bgcolor="#bfbfbf">  </td> <td valign="bottom" bgcolor="#bfbfbf"> </td> <td valign="bottom" align="right" bgcolor="#bfbfbf">54</td> <td valign="bottom" nowrap="nowrap" bgcolor="#bfbfbf">  </td></tr> <tr> <td valign="top"> Foreign currency long-term debt</td> <td valign="bottom" bgcolor="#bfbfbf">  </td> <td valign="bottom" bgcolor="#bfbfbf"/> <td valign="bottom" bgcolor="#bfbfbf"/> <td valign="bottom" bgcolor="#bfbfbf"/></tr> <tr> <td valign="top"> Recognized in OID(a)</td> <td valign="bottom" bgcolor="#bfbfbf">  </td> <td valign="bottom" bgcolor="#bfbfbf"> </td> <td valign="bottom" align="right" bgcolor="#bfbfbf">—</td> <td valign="bottom" nowrap="nowrap" bgcolor="#bfbfbf">  </td></tr> <tr> <td valign="top"> Recognized in OCI(a), (b)</td> <td valign="bottom" bgcolor="#bfbfbf">  </td> <td valign="bottom" bgcolor="#bfbfbf"> </td> <td valign="bottom" align="right" bgcolor="#bfbfbf">52</td> <td valign="bottom" nowrap="nowrap" bgcolor="#bfbfbf">  </td></tr> <tr style="FONT-SIZE: 1px"> <td style="BORDER-TOP: #000000 3px double" valign="bottom" colspan="4"> </td> <td> </td></tr></table> <table cellpadding="0" cellspacing="0" style="BORDER-COLLAPSE: collapse" border="0" width="100%"> <tr> <td valign="top" align="left" width="2%">(a) </td> <td valign="top" align="left"> OID = Other (income)/deductions––net. OCI = Other comprehensive income/(expense), a balance sheet account. </td></tr></table> <table cellpadding="0" cellspacing="0" style="BORDER-COLLAPSE: collapse" border="0" width="100%"> <tr> <td valign="top" align="left" width="2%">(b) </td> <td valign="top" align="left"> Amounts presented represent the effective portion of the gain or loss. For derivative financial instruments in cash flow hedge relationships, the effective portion is included in Other comprehensive income/(expense) – Net unrealized gains/(losses) on derivative financial instruments. For derivative financial instruments in net investment hedge relationships and for foreign currency debt designated as hedging instruments, the effective portion is included in Other comprehensive income/(expense)––Currency translation adjustment. </td></tr></table> For information about the fair value of our derivative financial instruments, and the impact on our consolidated balance sheet, see Note 9A. Financial Instruments: Selected Financial Assets and Liabilities. Certain of our derivative instruments are covered by associated credit-support agreements that have credit-risk-related contingent features designed to reduce our counterparties’ exposure to our risk of defaulting on amounts owed. The aggregate fair value of these derivative instruments that are in a liability position is $428 million, for which we have posted collateral of $309 million in the normal course of business. These features include the requirement to pay additional collateral in the event of a downgrade in our debt ratings. If there had been a downgrade to an A rating by Standard & Poor’s (S&P) or the equivalent rating by Moody& #8217;s Investors Service (Moody’s) on December 31, 2009, we would have been required to post an additional $20 million of collateral to our counterparties. If there had been a downgrade to below an A rating by S&P or the equivalent rating by Moody’s, on December 31, 2009, we would have been required to post an additional $108 million of collateral to our counterparties. The collateral advanced receivables are reported in Short-term loans. F. Credit Risk On an ongoing basis, we review the creditworthiness of counterparties to our foreign exchange and interest rate agreements and do not expect to incur a significant loss from failure of any counterparties to perform under the agreements. There are no significant concentrations of credit risk related to our financial instruments with any individual counterparty. As of December 31, 2009, we had $2 billion due from a well-diversified, highly rated group (S&P’s rating of mostly AA or better) of bank counterparties around the world. In general, there is no requirement for collateral from customers. However, derivative financial instruments are executed under master netting agreements with financial institutions. These agreements contain provisions that provide for the ability for collateral payments, depending on levels of exposure, our credit rating and the credit rating of the counterparty. As of December 31, 2009, we received cash collateral of $953 million against various counterparties. The collateral primarily supports the approximate fair value of our derivative contracts. The collateral received obligations are reported in Short-term borrowings, including current portion of long-term debt. 9. Financial Instruments A. Selected Financial Assets and Liabilities Information about certain of our financial assets and liabilities follows: false false This element represents the complete disclosure related to financial instruments, which may include i) selected financial assets and liabilities; ii) investments in debt and equity securities; iii) short-term borrowings; iv) long-term debt; v)derivative financial instruments and hedging activities; and vi) credit risk. No authoritative reference available. false false 1 2 false UnKnown UnKnown UnKnown false true