Financial Instruments (Tables)

9 Months Ended

Sep. 30, 2017

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Interest Rate Derivatives

The following is a summary of our fair value hedges at September 30, 2017:

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	$	4	2.79	%	4.5	%	Libor	2021

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	September 30, 2017			December 31, 2016
Derivatives Designated as Hedging Instruments
Foreign exchange contracts - forwards	Other current assets	$	1		$	6
	Other current liabilities	(22		)	(26		)
Interest rate swaps	Other long-term assets	4			4
	Net Designated Derivative Liability	$	(17	)	$	(16	)
Derivatives NOT Designated as Hedging Instruments
Foreign exchange contracts – forwards	Other current assets	$	5		$	82
	Other current liabilities	(27		)	(13		)
	Net Undesignated Derivative (Liability) Asset	$	(22	)	$	69
Summary of Derivatives	Total Derivative Assets	$	10		$	92
	Total Derivative Liabilities	(49		)	(39		)
	Net Derivative (Liability) Asset	$	(39	)	$	53

Derivative Instruments, Gain (Loss)

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

	Three Months Ended September 30,						Nine Months Ended September 30,
Gain (Loss) on Derivative Instruments	2017			2016			2017			2016
Fair Value Hedges - Interest rate contracts
Derivative (loss) gain recognized in interest expense	$	(1	)	$	(3	)	$	—		$	8
Hedged item gain (loss) recognized in interest expense	1			3			—			(8		)
Cash Flow Hedges - Foreign exchange forward contracts and options
Derivative (loss) gain recognized in OCI (effective portion)	$	(9	)	$	4		$	(22	)	$	61
Derivative (loss) gain reclassified from AOCL to income - Cost of sales (effective portion)	(15		)	17			(23		)	24

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

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

Derivatives NOT Designated as Hedging Instruments		Three Months Ended September 30,					Nine Months Ended September 30,
	Location of Derivative (Loss) Gain	2017			2016		2017			2016
Foreign exchange contracts – forwards	Other expense – Currency (loss) gain, net	$	(20	)	$	33	$	(30	)	$	182