XML 32 R46.htm IDEA: XBRL DOCUMENT v2.4.1.9
Financial Instruments (Tables)
 12 Months Ended
Dec. 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 December 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

 
$
5

 
2.43
%
 
4.50
%
 
Libor
 
2021
Schedule of a Summary of Foreign Exchange Contracts Gross Notional Values
The following is a summary of the primary hedging positions and corresponding fair values as of December 31, 2014:
Currencies Hedged (Buy/Sell)
 
Gross
Notional
Value
 
Fair  Value
Asset
(Liability)(1)
Euro/U.K. Pound Sterling
 
$
785

 
$
(11
)
U.S. Dollar/Euro
 
450

 
15

Japanese Yen/U.S. Dollar
 
442

 
(33
)
Japanese Yen/Euro
 
338

 
(4
)
Canadian Dollar/Euro
 
299

 
(1
)
U.K. Pound Sterling/Euro
 
153

 
1

Swiss Franc/Euro
 
83

 
—

Philippine Peso/U.S. Dollar
 
67

 
—

Indian Rupee/U.S. Dollar
 
62

 
(1
)
Euro/U.S. Dollar
 
53

 
(1
)
Mexican Peso/U.S. Dollar
 
52

 
(2
)
Euro/Danish Krone
 
24

 
—

U.S. Dollar/Philippine Peso
 
23

 
—

U.S. Dollar/Canadian Dollar
 
23

 
—

Mexican Peso/Euro
 
22

 
—

All Other
 
115

 
1

Total Foreign Exchange Hedging
 
$
2,991

 
$
(36
)
____________
(1)
Represents the net receivable (payable) amount included in the Consolidated Balance Sheet at December 31, 2014.
Schedule of a Summary of Derivative Instruments Fair Value
The following table provides a summary of the fair value amounts of our derivative instruments:
 
 
 
 
December 31,
Designation of Derivatives
 
Balance Sheet Location
 
2014
 
2013
Derivatives Designated as Hedging Instruments
 
 
 
 
Foreign exchange contracts – forwards
 
Other current assets
 
$
7

 
$
1

 
 
Other current liabilities
 
(39
)
 
(51
)
Foreign currency options
 
Other current assets
 
2

 
—

Interest rate swaps
 
Other long-term assets
 
5

 
—

 
 
Net Designated Derivative Liability
 
$
(25
)
 
$
(50
)
 
 
 
 
 
 
 
Derivatives NOT Designated as Hedging Instruments
 
 
 
 
Foreign exchange contracts – forwards
 
Other current assets
 
$
13

 
$
5

 
 
Other current liabilities
 
(19
)
 
(19
)
 
 
Net Undesignated Derivative Liability
 
$
(6
)
 
$
(14
)
 
 
 
 
 
 
 
Summary of Derivatives
 
Total Derivative Assets
 
$
27

 
$
6

 
 
Total Derivative Liabilities
 
(58
)
 
(70
)
 
 
Net Derivative Liability
 
$
(31
)
 
$
(64
)
Schedule of a Summary of Fair Value Hedges Gains (Losses)
The following tables provide a summary of gains (losses) on derivative instruments:
 
 
 
 
Year Ended December 31,
Derivatives in Fair Value
Relationships
 
Location of Gain (Loss)
Recognized in Income
 
Derivative Gain (Loss) Recognized in Income
 
Hedged Item Gain (Loss) Recognized in Income
 
 
2014
 
2013
 
2012
 
2014
 
2013
 
2012
Interest rate contracts
 
Interest expense
 
$
5

 
$
—

 
$
—

 
$
(5
)
 
$
—

 
$
—
Schedule of a Summary of Cash Flow Hedges Gains (Losses)
 
 
Year Ended December 31,
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)
 
2014
 
2013
 
2012
 
 
2014
 
2013
 
2012
Foreign exchange contracts – forwards/options
 
$
(20
)
 
$
(126
)
 
$
(50
)
 
Cost of sales
 
$
(36
)
 
$
(123
)
 
$
37
Schedule of a Summary of Derivatives Not Designated as Hedging Instruments Gains (Losses)
The following table provides a summary of losses on non-designated derivative instruments:
 
 
 
 
Year Ended December 31,
Derivatives NOT Designated as Hedging Instruments
 
Location of Derivative Loss
 
2014
 
2013
 
2012
Foreign exchange contracts – forwards
 
Other expense – Currency losses, net
 
$
(10
)
 
$
(86
)
 
$
(38
)