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Revision of Previously Issued Financial Statements (Tables)
 3 Months Ended
Mar. 31, 2017
Accounting Changes and Error Corrections [Abstract]  
Schedule of Error Corrections and Prior Period Adjustments
The following tables present the impact of this revision on our condensed consolidated balance sheets as of December 31, 2016 and March 31, 2017, our condensed consolidated statements of income, comprehensive income, cash flows and changes in shareholders' equity for the three months ended March 31, 2017 and 2016:
 
 
Three Months Ended March 31, 2017
 
 
As Previously Reported
 
Adjustment
 
As Revised
 
 
(Millions Except Per Share Amounts)
Condensed Consolidated Income Statement
 
 
 
 
 
 
Cost of sales (exclusive of depreciation and amortization)
 
$
1,925

 
$
6

 
$
1,931

Earnings before interest expense, income taxes, and noncontrolling interests
 
127

 
(6
)
 
121

Earnings before income taxes and noncontrolling interests
 
112

 
(6
)
 
106

Income tax expense
 
34

 
(1
)
 
33

Net income
 
78

 
(5
)
 
73

Less: Net income attributable to noncontrolling interests
 
15

 
(1
)
 
14

Net income attributable to Tenneco Inc.
 
$
63

 
$
(4
)
 
$
59

Earnings per share
 
 
 
 
 
 
Basic earnings per share of common stock
 
$
1.17

 
$
(0.07
)
 
$
1.10

Diluted earnings per share of common stock
 
1.16

 
(0.07
)
 
1.09

 
 
 
 
 
 
 
 
 
Three Months Ended March 31, 2017
 
 
As Previously Reported
 
Adjustment
 
As Revised
 
 
(Millions)
Condensed Consolidated Statement of Comprehensive Income
 
 
 
 
 
 
Tenneco Inc.
 
 
 
 
 
 
  Net Income
 
$
63

 
$
(4
)
 
$
59

  Comprehensive Income
 
$
91

 
$
(4
)
 
$
87

 
 
 
 
 
 
 
Noncontrolling Interests
 
 
 
 
 
 
  Net Income
 
$
15

 
$
(1
)
 
$
14

  Comprehensive Income
 
$
16

 
$
(1
)
 
$
15

 
 
 
 
 
 
 
Total
 
 
 
 
 
 
  Net Income
 
$
78

 
$
(5
)
 
$
73

  Comprehensive Income
 
$
107

 
$
(5
)
 
$
102

 
 
March 31, 2017
 
 
As Previously Reported
 
Adjustment
 
As Revised
 
 
(Millions)
Condensed Consolidated Balance Sheet
 
 
 
 
 
 
Deferred income taxes
 
$
184

 
$
5

 
$
189

Total assets
 
4,637

 
5

 
4,642

Trade payables
 
1,587

 
7

 
1,594

Accrued taxes
 
44

 
(3
)
 
41

Total current liabilities
 
2,077

 
4

 
2,081

Deferred credits and other liabilities
 
121

 
29

 
150

Total liabilities
 
3,870

 
33

 
3,903

Redeemable noncontrolling interests
 
52

 
(4
)
 
48

Retained earnings (accumulated deficit)
 
(1,035
)
 
(19
)
 
(1,054
)
Total Tenneco Inc. shareholders’ equity
 
656

 
(19
)
 
637

Noncontrolling interests
 
59

 
(5
)
 
54

Total equity
 
715

 
(24
)
 
691

Total liabilities, redeemable noncontrolling interests and equity
 
4,637

 
5

 
4,642

 
 
December 31, 2016
 
 
As Previously Reported
 
Adjustment
 
As Revised
 
 
(Millions)
Condensed Consolidated Balance Sheet
 
 
 
 
 
 
Deferred income taxes
 
$
195

 
$
4

 
$
199

Total assets
 
4,342

 
4

 
4,346

Trade payables
 
1,496

 
5

 
1,501

Accrued taxes
 
41

 
(2
)
 
39

Total current liabilities
 
1,970

 
3

 
1,973

Deferred credits and other liabilities
 
116

 
23

 
139

Total liabilities
 
3,660

 
26

 
3,686

Redeemable noncontrolling interests
 
43

 
(3
)
 
40

Retained earnings (accumulated deficit)
 
(1,085
)
 
(15
)
 
(1,100
)
Total Tenneco Inc. shareholders’ equity
 
588

 
(15
)
 
573

Noncontrolling interests
 
51

 
(4
)
 
47

Total equity
 
639

 
(19
)
 
620

Total liabilities, redeemable noncontrolling interests and equity
 
4,342

 
4

 
4,346


 
 
Three Months Ended March 31, 2017
 
 
As Previously Reported
 
Adjustment
 
As Revised
 
 
(Millions)
Condensed Consolidated Statement of Cash Flow *
 
 
 
 
 
 
Net income
 
$
78

 
$
(5
)
 
$
73

Deferred income taxes
 
8

 
(1
)
 
7

Increase (decrease) in accounts payable
 
91

 
2

 
93

Changes in long-term liabilities
 
1

 
4

 
5

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Three Months Ended March 31, 2016
 
 
As Previously Reported
 
Adjustment
 
As Revised
 
 
(Millions)
Condensed Consolidated Statement of Cash Flow *
 
 
 
 
 
 
Increase (decrease) in accounts payable
 
56

 
1

 
57

Changes in long-term liabilities
 
(5
)
 
(1
)
 
(6
)

* No change to net cash used by operating activities.

 
 
 
 
 
 
 
 
 
Three Months Ended March 31, 2017
 
 
As Previously Reported
 
Adjustment
 
As Revised
 
 
(Millions)
Condensed Consolidated Statements of Changes in Shareholders' Equity
 
 
 
 
 
 
Retained earnings (accumulated deficit)
 
 
 
 
 
 
Balance January 1
 
$
(1,085
)
 
$
(15
)
 
$
(1,100
)
  Net income attributable to Tenneco Inc.
 
63

 
(4
)
 
59

  Cash dividends declared
 
(13
)
 
—

 
(13
)
Balance March 31
 
$
(1,035
)
 
$
(19
)
 
$
(1,054
)
 
 
 
 
 
 
 
Total Tenneco Inc. shareholders' equity
 
$
656

 
$
(19
)
 
$
637

 
 
 
 
 
 
 
Noncontrolling interests:
 
 
 
 
 
 
Balance January 1
 
$
51

 
$
(4
)
 
$
47

  Net income
 
8

 
(1
)
 
7

Balance March 31
 
$
59

 
$
(5
)
 
$
54

 
 
 
 
 
 
 
Total Equity
 
$
715

 
$
(24
)
 
$
691


 
 
 
 
 
 
 
 
 
Three Months Ended March 31, 2016
 
 
As Previously Reported
 
Adjustment
 
As Revised
 
 
(Millions)
Condensed Consolidated Statements of Changes in Shareholders' Equity
 
 
 
 
 
 
Retained earnings (accumulated deficit)
 
 
 
 
 
 
Balance January 1
 
$
(1,448
)
 
$
(8
)
 
$
(1,456
)
  Net income attributable to Tenneco Inc.
 
57

 
—

 
57

Balance March 31
 
$
(1,391
)
 
$
(8
)
 
$
(1,399
)
 
 
 
 
 
 
 
Total Tenneco Inc. shareholders' equity
 
$
505

 
$
(8
)
 
$
497

 
 
 
 
 
 
 
Noncontrolling interests:
 
 
 
 
 
 
Balance January 1
 
$
42

 
$
(3
)
 
$
39

  Net income
 
7

 
1

 
8

Balance March 31
 
$
49

 
$
(2
)
 
$
47

 
 
 
 
 
 
 
Total Equity
 
$
554

 
$
(10
)
 
$
544