Financial Instruments, Derivatives and Hedging Activities (Tables)

9 Months Ended

Sep. 30, 2015

Financial Instruments, Derivatives and Hedging Activities

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

	Fair Value of Derivative Instruments
Derivatives designated as		Fair Value					Fair Value
cash-flow hedging instruments: (in millions)	Balance Sheet Location	At Sept. 30, 2015		At December 31, 2014		Balance Sheet Location	At Sept. 30, 2015		At December 31, 2014
Commodity and foreign currency contracts	Accounts receivable-net	$	8	$	15	Accounts payable and accrued liabilities	$	11	$	18
Commodity and foreign currency contracts	Other assets	7		1		Non-current liabilities	3		6
Total		$	15	$	16		$	14	$	24

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						Location of	Amount of Gains (Losses) Reclassified from AOCI into Income
Derivatives in Cash-Flow Hedging Relationships	Three Months Ended September 30, 2015			Three Months Ended September 30, 2014			Gains (Losses) Reclassified from AOCI into Income	Three Months Ended September 30, 2015			Three Months Ended September 30, 2014
Commodity and foreign currency contracts	$	(22	)	$	(71	)	Cost of sales	$	(9	)	$	(15	)
Interest rate contracts	—			—			Financing costs, net	(1		)	(1		)
Total	$	(22	)	$	(71	)		$	(10	)	$	(16	)

	Amount of Gains (Losses) Recognized in OCI on Derivatives						Location of	Amount of Gains (Losses) Reclassified from AOCI into Income
Derivatives in Cash-Flow Hedging Relationships	Nine Months Ended September 30, 2015			Nine Months Ended September 30, 2014			Gains (Losses) Reclassified from AOCI into Income	Nine Months Ended September 30, 2015			Nine Months Ended September 30, 2014
Commodity and foreign currency contracts	$	(26	)	$	(68	)	Cost of sales	$	(31	)	$	(33	)
Interest rate contracts	—			—			Financing costs, net	(2		)	(2		)
Total	$	(26	)	$	(68	)		$	(33	)	$	(35	)

Schedule of fair value of financial instruments and derivatives

	At September 30, 2015								At December 31, 2014
(in millions)	Total		Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3
Available for sale securities	$	6	$	6	$	—	$	—	$	5	$	5	$	—	$	—
Derivative assets	39		7		32		—		29		12		17		—
Derivative liabilities	14		3		11		—		23		6		17		—
Long-term debt	2,356		—		2,356		—		1,939		—		1,939		—