Annual report pursuant to Section 13 and 15(d)

DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES (Details)

v2.4.0.6
DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES (Details)
In Millions, unless otherwise specified
12 Months Ended 12 Months Ended 12 Months Ended 1 Months Ended 12 Months Ended 12 Months Ended 1 Months Ended 12 Months Ended 9 Months Ended 9 Months Ended
Dec. 31, 2011
USD ($)
Dec. 31, 2010
USD ($)
Dec. 31, 2009
USD ($)
Dec. 31, 2011
EUR (€)
Dec. 31, 2011
Forward foreign currency contracts
USD ($)
month
Dec. 31, 2010
Forward foreign currency contracts
USD ($)
Dec. 31, 2011
Interest rate contract
Designated as Hedging Instrument
USD ($)
Dec. 31, 2010
Interest rate contract
Designated as Hedging Instrument
USD ($)
Dec. 31, 2011
Five-year interest rate contract entered in year 2010
Designated as Hedging Instrument
USD ($)
Dec. 31, 2010
Five-year interest rate contract entered in year 2010
Designated as Hedging Instrument
USD ($)
Dec. 31, 2011
Twelve-year interest rate contract entered in year 2009
Non Designated Hedge Instrument
Arabian Amines Company
USD ($)
Dec. 31, 2010
Twelve-year interest rate contract entered in year 2009
Non Designated Hedge Instrument
Arabian Amines Company
USD ($)
Dec. 31, 2009
Twelve-year interest rate contract entered in year 2009
Non Designated Hedge Instrument
Arabian Amines Company
Dec. 31, 2009
Five-year interest rate contract entered in year 2009
Designated as Hedging Instrument
Dec. 31, 2011
Five-year interest rate contract entered in year 2009
Designated as Hedging Instrument
USD ($)
Dec. 31, 2010
Five-year interest rate contract entered in year 2009
Designated as Hedging Instrument
USD ($)
Dec. 31, 2011
Floating to fixed interest rate contract
USD ($)
Dec. 31, 2011
Floating to fixed interest rate contract
EUR (€)
Dec. 31, 2009
Floating to fixed interest rate contract
Mar. 31, 2010
Cross Currency Interest Rate Contract
Designated as Hedging Instrument
USD ($)
Mar. 31, 2010
Cross Currency Interest Rate Contract
Designated as Hedging Instrument
EUR (€)
Dec. 31, 2011
Cross Currency Interest Rate Contract
Designated as Hedging Instrument
USD ($)
party
Dec. 31, 2010
Cross Currency Interest Rate Contract
Designated as Hedging Instrument
USD ($)
Mar. 15, 2015
Cross Currency Interest Rate Contract
Designated as Hedging Instrument
USD ($)
Mar. 15, 2015
Cross Currency Interest Rate Contract
Designated as Hedging Instrument
EUR (€)
Dec. 31, 2011
Cross Currency Interest Rate Contract
Designated as Hedging Instrument
EUR (€)
Dec. 31, 2011
Forward interest rate contract beginning in December, 2014 and January, 2015
USD ($)
Sep. 30, 2011
Forward interest rate contract beginning in December, 2014
Sep. 02, 2011
Forward interest rate contract beginning in December, 2014
USD ($)
Sep. 30, 2011
Forward interest rate contract beginning in January, 2015
Sep. 02, 2011
Forward interest rate contract beginning in January, 2015
USD ($)
Derivative Instruments and Hedging Activities                                                              
Notional Amounts         $ 263 $ 183     $ 50   $ 38       $ 50                           $ 50   $ 50
Hedging period of interest rate contract (in years)                   5 years     12 years 5 years                                  
Fixed percentage to be paid under the hedge                 2.80%   5.02%       2.60%       3.62%                 2.50%   2.50%  
Variable rate basis                 one-month LIBOR rate           one-month LIBOR rate       EURIBOR                 one-month LIBOR rate   one-month LIBOR rate  
Fair value of the hedge                 (3) (2) (6) (5)     (3) (2)                     (1)        
Strike price (as a percent)                                     3.62%                        
Notional amount of hedge                                 66 51                          
Fair value of interest rate derivative not designated as hedging instrument recorded in other noncurrent liabilities                                 (3) (3)                          
Additional (reduction of) interest expense due to changes in the fair value of the swap                     1 (1)         2 2                          
Changes in accumulated other comprehensive (loss) income             4 5                                              
Maximum maturity period of spot or forward exchange rate contracts (in months)         3                                                    
Approximate term of foreign currency contracts (in months)         1                                                    
Stated rate of interest (as a percent)                                           8.625%                  
Number of counterparties                                           3                  
Amount paid to counterparties                                       350                      
Amount received from counterparties                                         255                    
Amount payable to counterparties on maturity of derivative contract                                                 255            
Amount receivable from counterparties on maturity of derivative contract                                               350              
U.S. dollar interest payments to be received on March 15 and September 15 of each year                                                   11          
Equivalent annual rate of interest receivable (as a percent)                                           8.625%                  
U.S. dollar interest payments to be made on March 15 and September 15 of each year                                           15                  
Equivalent annual rate of interest payable (as a percent)                                           8.41%                  
Fair value of the swap                                           27 19                
Effective portion of the changes in the fair value                                           8 7                
Ineffective portion of the changes in the fair value                                             12                
Euro-denominated debt and cross currency interest rate swap as a hedge of net investments 412     319                                                      
Amount of gain (loss) recognized on the hedge of net investments 5 34 (5)                                                        
Net euro assets $ 1,503     € 1,162                                                      
Period of reclassification from accumulated other comprehensive income (loss) to earnings (in months)             12 months