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Financial Instruments (Tables)
 3 Months Ended
Mar. 31, 2014
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of Interest Rate Derivatives
The following is a summary of our fair value hedges at March 31, 2014:
Debt Instrument
 
Year First Designated
 
Notional Amount
 
Net Fair Value
 
Weighted Average Interest Rate Paid
 
Interest Rate Received
 
Basis
 
Maturity
Senior Note 2021
 
2014
 
$
300

 
$
(3
)
 
2.42
%
 
4.5
%
 
Libor
 
2021
Forward Foreign Exchange Contracts
The following is a summary of the primary hedging positions and corresponding fair values as of March 31, 2014:
Currency Hedged (Buy/Sell)
Gross
Notional
Value
 
Fair  Value
Asset
(Liability)(1)
Euro/U.K. Pound Sterling
$
769

 
$
(4
)
Japanese Yen/U.S. Dollar
487

 
(8
)
Canadian Dollar/Euro
409

 
(4
)
U.S. Dollar/Euro
397

 
(1
)
Japanese Yen/Euro
378

 
(11
)
U.K. Pound Sterling/Euro
167

 
—

Philippine Peso/U.S. Dollar
52

 
—

Mexican Peso/U.S. Dollar
47

 
1

Swiss Franc/Euro
44

 
—

Indian Rupee/U.S. Dollar
41

 
3

Euro/Danish Krone
29

 
—

Mexican Peso/Euro
24

 
—

All Other
150

 
(1
)
Total Foreign Exchange Hedging
$
2,994

 
$
(25
)
__________________
(1)
Represents the net receivable (payable) amount included in the Condensed Consolidated Balance Sheet at March 31, 2014.
Summary of Derivative Instruments Fair Value
The following table provides a summary of the fair value amounts of our derivative instruments:
Designation of Derivatives
 
Balance Sheet Location
 
March 31, 2014
 
December 31, 2013
Derivatives Designated as Hedging Instruments
 
 
 
 
Foreign exchange contracts – forwards
 
Other current assets
 
$
4

 
$
1

 
 
Other current liabilities
 
(20
)
 
(51
)
Interest rate swaps
 
Other long-term liabilities
 
(3
)
 
—

 
 
Net Designated Derivative Liability
 
$
(19
)
 
$
(50
)
 
 
 
 
 
 
 
Derivatives NOT Designated as Hedging Instruments
 
 
 
 
Foreign exchange contracts – forwards
 
Other current assets
 
$
5

 
$
5

 
 
Other current liabilities
 
(14
)
 
(19
)
 
 
Net Undesignated Derivative Liability
 
$
(9
)
 
$
(14
)
 
 
 
 
 
 
 
Summary of Derivatives
 
Total Derivative Assets
 
$
9

 
$
6

 
 
Total Derivative Liabilities
 
(37
)
 
(70
)
 
 
Net Derivative Liability
 
$
(28
)
 
$
(64
)
Summary of Cash Flow Hedges Gains (Losses)
The following tables provide a summary of gains (losses) on derivative instruments:
Derivatives in Fair Value
Hedging Relationships
 
Location of Gain (Loss) Recognized in Income
 
Derivative Gain (Loss) Recognized in income
 
Hedged Item Gain (Loss) Recognized in Income
 
 
Three Months Ended March 31,
 
Three Months Ended March 31,
 
 
2014
 
2013
 
2014
 
2013
Interest Rate Contracts
 
Interest Expense
 
$
(3
)
 
$
—

 
$
3

 
$
—

 
Derivatives in Cash Flow
Hedging Relationships
 
Derivative Gain (Loss) Recognized in OCI (Effective Portion)
 
Location of Derivative
Gain (Loss) Reclassified
from AOCI into Income
(Effective Portion)
 
Gain (Loss) Reclassified
from AOCI to Income
(Effective Portion)
 
Three Months Ended March 31,
 
 
Three Months Ended March 31,
 
2014
 
2013
 
 
2014
 
2013
Foreign exchange contracts – forwards
 
$
18

 
$
(34
)
 
Cost of sales
 
$
(21
)
 
$
(17
)
Summary of Derivatives Not Designated as Hedging Instruments Gains (Losses)
The following table provides a summary of gains (losses) on non-designated derivative instruments:
Derivatives NOT Designated as Hedging Instruments
 
 
 
Three Months Ended
March 31,
Location of Derivative Gain (Loss)
 
2014
 
2013
Foreign exchange contracts – forwards
 
Other expense – Currency losses, net
 
$
—

 
$
(15
)