Derivative Financial Instruments (Tables)

9 Months Ended

Sep. 26, 2014

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Notional Amounts of Company's Outstanding Foreign Currency Forward Contracts by Currency

The table below presents the notional amounts of the Company’s outstanding foreign currency forward contracts by currency at September 26, 2014.

Currency	Notional Amounts
	(in millions)
Canadian dollar	$	161
U.S. dollar		101
Euro		66
British pound		9
Total	$	337

Location of Company's Derivative Instruments Recorded at Fair Value on Condensed Consolidated Balance Sheets

The table below presents the location of the Company’s derivative instruments recorded at fair value on the condensed consolidated balance sheets.

	September 26, 2014								December 31, 2013
	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)	$	4	$	1	$	3	$	1	$	5	$	1	$	3	$	2
Derivatives not designated as hedging instruments:
Foreign currency forward contracts(1)		—		—		—		—		—		—		—		—
Embedded derivative related to the CODES(2)		—		—		—		—		—		—		—		—
Total derivative instruments	$	4	$	1	$	3	$	1	$	5	$	1	$	3	$	2

⁽¹⁾  See Note 15 for a description of the fair value hierarchy related to the Company’s foreign currency forward contracts.

⁽²⁾  See Note 10 for a description of the CODES Retirement.