Financial Instruments, Derivatives and Hedging Activities (Tables)

12 Months Ended

Dec. 31, 2013

Financial Instruments, Derivatives and Hedging Activities

Schedule of location and amount of assets and liabilities reported in balance sheet

	Fair Value of Derivative Instruments
		Fair Value					Fair Value
Derivatives designated as hedging instruments: (in millions)	Balance Sheet Location	At December 31, 2013		At December 31, 2012		Balance Sheet Location	At December 31, 2013		At December 31, 2012
Commodity and foreign currency contracts	Accounts receivable-net	$	2	$	5	Accounts payable and accrued liabilities	$	27	$	34
Commodity and foreign currency contracts	Other assets	5		—		Non-current liabilities	—		6
Total		$	7	$	5		$	27	$	40

Schedule of amount of gains and losses recognized in OCI and location and amount of gains and losses reported in income statement

Additional information relating to the Company’s derivative instruments is presented below (in millions, pre-tax):

	Amount of Gains (Losses) Recognized in OCI on Derivatives								Amount of Gains (Losses) Reclassified from AOCI into Income
Derivatives in Cash-Flow Hedging Relationships	Year Ended December 31, 2013			Year Ended December 31, 2012		Year Ended December 31, 2011		Location of Gains (Losses) Reclassified from AOCI into Income	Year Ended December 31, 2013			Year Ended December 31, 2012			Year Ended December 31, 2011
Commodity and foreign currency contracts	$	(93	)	$	68	$	48	Cost of Sales	$	(57	)	$	43		$	169
Interest rate contracts	—			—		—		Financing costs, net	(3		)	(3		)	(3		)
Total	$	(93	)	$	68	$	48		$	(60	)	$	40		$	166

Schedule of fair value of financial instruments and derivatives

	As of December 31, 2013								As of December 31, 2012
(in millions)	Total		Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3
Available for sale securities	$	4	$	4	$	—	$	—	$	3	$	3	$	—	$	—
Derivative assets	20		—		20		—		25		5		20		—
Derivative liabilities	32		22		10		—		45		24		21		—
Long-term debt	1,813		—		1,813		—		1,914		—		1,914		—

Schedule of carrying amounts and fair values of long-term debt

	2013				2012
(in millions)	Carrying amount		Fair value		Carrying amount		Fair value
4.625% senior notes, due November 1, 2020	$	399	$	420	$	399	$	448
3.2% senior notes, due November 1, 2015	350		363		350		368
1.8% senior notes, due September 25, 2017	298		296		298		300
6.625% senior notes, due April 15, 2037	257		281		257		315
6.0% senior notes, due April 15, 2017	200		219		200		227
5.62% senior notes due March 25, 2020	200		221		200		236
Fair value adjustment related to hedged fixed rate debt instrument	13		13		20		20
Total long-term debt	$	1,717	$	1,813	$	1,724	$	1,914