Financial Instruments (Tables)

3 Months Ended

Mar. 31, 2015

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, 2015:

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	$	9	2.43	%	4.5	%	Libor	2021

Forward Foreign Exchange Contracts - currency pairs

The following is a summary of the primary hedging positions and corresponding fair values as of March 31, 2015:

Currency Hedged (Buy/Sell)	Gross Notional Value		Fair  Value Asset (Liability)(1)
Euro/U.K. Pound Sterling	$	839	$	5
Japanese Yen/U.S. Dollar	453		(22		)
Japanese Yen/Euro	303		11
Canadian Dollar/Euro	267		8
U.S. Dollar/Euro	230		10
U.S. Dollar/U.K. Pound Sterling	175		7
U.K. Pound Sterling/Euro	138		—
Swiss Franc/Euro	91		1
Indian Rupee/U.S. Dollar	58		—
Mexican Peso/U.S. Dollar	48		(2		)
Philippine Peso/U.S. Dollar	47		—
Euro/U.S. Dollar	44		—
Mexican Peso/Euro	29		—
Euro/Canadian Dollar	23		(1		)
Euro/Danish Krone	20		—
All Other	129		—
Total Foreign Exchange Hedging	$	2,894	$	17

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(1) Represents the net receivable (payable) amount included in the Condensed Consolidated Balance Sheet at March 31, 2015.

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, 2015			December 31, 2014
Derivatives Designated as Hedging Instruments
Foreign exchange contracts – forwards	Other current assets	$	16		$	7
	Other current liabilities	(23		)	(39		)
Foreign currency options	Other current assets	5			2
Interest rate swaps	Other long-term assets	9			5
	Net Designated Derivative Asset (Liability)	$	7		$	(25	)
Derivatives NOT Designated as Hedging Instruments
Foreign exchange contracts – forwards	Other current assets	$	27		$	13
	Other current liabilities	(8		)	(19		)
	Net Undesignated Derivative Asset (Liability)	$	19		$	(6	)
Summary of Derivatives	Total Derivative Assets	$	57		$	27
	Total Derivative Liabilities	(31		)	(58		)
	Net Derivative Asset (Liability)	$	26		$	(31	)

Derivative Instruments, Gain (Loss)

The following table provides a summary of gains (losses) on derivative instruments:

	Three Months Ended March 31,
Gain (Loss) on Derivative Instruments	2015			2014
Fair Value Hedges - Interest rate contracts
Derivative gain (loss) recognized in interest expense	$	4		$	(3	)
Hedged item (loss) gain recognized in interest expense	(4		)	3
Cash Flow Hedges - Foreign exchange forward contracts and options
Derivative gain recognized in OCI (effective portion)	$	31		$	18
Derivative loss reclassified from AOCI to income - Cost of sales (effective portion)	(10		)	(21		)

Summary of Derivatives Not Designated as Hedging Instruments Gains (Losses)

The following table provides a summary of gains on non-designated derivative instruments:

Derivatives NOT Designated as Hedging Instruments		Three Months Ended March 31,
	Location of Derivative Gain (Loss)	2015		2014
Foreign exchange contracts – forwards	Other expense – Currency gains, net	$	15	$	—