Derivative Financial Instruments

12 Months Ended

Dec. 31, 2013

Derivative Instruments And Hedging Activities Disclosure [Abstract]

Derivative Financial Instruments

15. Derivative Financial Instruments

Notional amounts are used to measure the volume of foreign currency forward contracts and do not represent exposure to foreign currency losses. The table below presents the notional amounts of the Company’s outstanding foreign currency forward contracts by currency as of December 31, 2013.

Currency	Notional Amount
	(in millions)
Canadian dollar	$	137
U.S. dollar		98
Euro		66
British pound		18
Other		2
Total	$	321

At December 31, 2013, the Company’s foreign currency forward contracts had maturities through 2018.

The table below presents the fair values and the location of the Company’s derivative instruments in the consolidated balance sheets.

	December 31, 2013								December 31, 2012
	Other Current Assets		Other Assets		Other Current Liabilities		Other Liabilities		Other Current Assets		Other Assets		Other Current Liabilities		Other Liabilities
	(in millions)
Derivatives designated as hedging instruments:
Foreign currency forward contracts(1)	$	5	$	1	$	3	$	2	$	4	$	4	$	2	$	1
Derivatives not designated as hedging instruments:
Foreign currency forward contracts(1)		—		—		—		—		—		—		—		—
Embedded derivative related to the CODES		—		—		—		—		—		—		—		—
Total derivative instruments	$	5	$	1	$	3	$	2	$	4	$	4	$	2	$	1

⁽¹⁾  See Note 13 for a description of the fair value hierarchy related to the Company’s foreign currency forward contracts.

The effect of gains or losses from foreign currency forward contracts was not material to the consolidated statements of operations for the years ended December 31, 2013 and 2012. At December 31, 2013, the estimated net amount of existing losses that are expected to be reclassified into income within the next 12 months is $1 million.