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Summary of Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2015

The following is a rollforward of activity in our redeemable noncontrolling interests for the years ending December 31, 2015, 2014 and 2013, respectively:



	2015			2014			2013
	(Millions)
Balance January 1	$	35		$	20		$	15
Net income attributable to redeemable noncontrolling interests	33			23			14
Sale of 45 percent equity interest from Tenneco Inc	—			4			—
Capital Contributions	—			1			—
Dividends declared	(24		)	(13		)	(9		)
Balance December 31	$	43		$	35		$	20

Inventories by Major Classification

Inventories

At December 31, 2015 and 2014, inventory by major classification was as follows:



	2015		2014
	(Millions)
Finished goods	$	257	$	272
Work in process	233		221
Raw materials	135		137
Materials and supplies	57		58
	$	682	$	688

Changes in Net Carrying Amount of Goodwill

The changes in the net carrying amount of goodwill for the years ended December 31, 2015, 2014 and 2013 were as follows:




	Clean Air Division							Ride Performance Division
	North America		Europe, South America & India			Asia Pacific		North America		Europe, South America & India			Asia Pacific		Total
(Millions)
Balance at December 31, 2013	$	14	$	14		$	—	$	10	$	31		$	—	$	69
Translation Adjustment	—		(2		)	—		—		(2		)	—		(4		)
Balance at December 31, 2014	14		12			—		10		29			—		65
Translation Adjustment	—		(1		)	—		—		(4		)	—		(5		)
Balance at December 31, 2015	14		11			—		10		25			—		60

Carrying Amount and Accumulated Amortization of Finite Useful Life Intangible Assets

The carrying amount and accumulated amortization of our finite useful life intangible assets were as follows:



	December 31, 2015					December 31, 2014
	Gross Carrying Value		Accumulated Amortization			Gross Carrying Value		Accumulated Amortization
	(Millions)					(Millions)
Customer contract	$	8	$	(4	)	$	8	$	(4	)
Patents	2		(2		)	3		(2		)
Technology rights	29		(19		)	26		(15		)
Other	10		(2		)	11		(2		)
Total	$	49	$	(27	)	$	48	$	(23	)

Property, Plant and Equipment

At December 31, 2015 and 2014, plant, property, and equipment, at cost, by major category were as follows:



	2015		2014
	(Millions)
Land, buildings, and improvements	$	561	$	569
Machinery and equipment	2,569		2,655
Other, including construction in progress	288		266
	$	3,418	$	3,490