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Summary of Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2016

The following is a rollforward of activity in our redeemable noncontrolling interests for the years ending December 31, 2016, 2015 and 2014, respectively:



	2016			2015			2014
	(Millions)
Balance January 1	$	41		$	34		$	20
Net income attributable to redeemable noncontrolling interests	36			32			22
Sale of 45 percent equity interest from Tenneco Inc	—			—			4
Capital Contributions	—			—			1
Other comprehensive loss	(2		)	(1		)	—
Dividends declared	(35		)	(24		)	(13		)
Balance December 31	$	40		$	41		$	34

Inventories by Major Classification

Inventories

At December 31, 2016 and 2015, inventory by major classification was as follows:



	2016		2015
	(Millions)
Finished goods	$	284	$	257
Work in process	245		233
Raw materials	137		135
Materials and supplies	64		57
	$	730	$	682

Changes in Net Carrying Amount of Goodwill

The changes in the net carrying amount of goodwill for the years ended December 31, 2016, 2015 and 2014 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, 2014	$	14	$	12		$	—	$	10	$	29		$	—	$	65
Translation Adjustment	—		(1		)	—		—		(4		)	—		(5		)
Balance at December 31, 2015	14		11			—		10		25			—		60
Translation Adjustment	—		—			—		—		(3		)	—		(3		)
Balance at December 31, 2016	14		11			—		10		22			—		57

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, 2016					December 31, 2015
	Gross Carrying Value		Accumulated Amortization			Gross Carrying Value		Accumulated Amortization
	(Millions)					(Millions)
Customer contract	$	8	$	(5	)	$	8	$	(4	)
Patents	1		(1		)	2		(2		)
Technology rights	29		(21		)	29		(19		)
Other	9		(1		)	10		(2		)
Total	$	47	$	(28	)	$	49	$	(27	)

Property, Plant and Equipment

At December 31, 2016 and 2015, plant, property, and equipment, at cost, by major category were as follows:



	2016		2015
	(Millions)
Land, buildings, and improvements	$	568	$	561
Machinery and equipment	2,638		2,569
Other, including construction in progress	342		288
	$	3,548	$	3,418