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Financial Instruments (Tables)
9 Months Ended
Sep. 30, 2011
Derivative Instruments and Hedging Activities Disclosure [Abstract] 
Forward Foreign Exchange Contracts
The following is a summary of the primary hedging positions and corresponding fair values as of September 30, 2011:
 
Currency Hedged (Buy/Sell)
Gross
Notional
Value
 
Fair  Value
Asset
(Liability)(1)
Euro/U.K. Pound Sterling
$
782

 
$
(5
)
U.S. Dollar/Euro
589

 
20

Japanese Yen/U.S. Dollar
501

 
13

Japanese Yen/Euro
347

 
21

Swiss Franc/Euro
236

 
(4
)
U.K. Pound Sterling/U.S. Dollar
218

 
(5
)
U.K. Pound Sterling/Euro
161

 
—

Canadian Dollar/Euro
146

 
(1
)
Swedish Krona/Euro
96

 
(1
)
U.K. Pound Sterling/Swiss Franc
76

 
—

Euro/U.S. Dollar
75

 
—

Mexican Peso/U.S. Dollar
68

 
(6
)
Indian Rupee/U.S. Dollar
66

 
(3
)
Danish Krone/Euro
63

 
—

U.S. Dollar/Japanese Yen
56

 
—

Norwegian Krone/Euro
55

 
(1
)
All Other
242

 
(1
)
Total Foreign Exchange Hedging
$
3,777

 
$
27

_____________________________
(1)
Represents the net receivable (payable) amount included in the Condensed Consolidated Balance Sheet at September 30, 2011.
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, 2011
 
December 31, 2010
Derivatives Designated as Hedging Instruments
 
 
 
 
Foreign exchange contracts – forwards
 
Other current assets
 
$
39

 
$
19

 
 
Other current liabilities
 
(9
)
 
(1
)
Interest rate swaps
 
Other long-term assets
 
—

 
11

 
 
Net Designated Asset
 
$
30

 
$
29

 
 
 
 
 
 
 
Derivatives NOT Designated as Hedging Instruments
 
 
 
 
Foreign exchange contracts – forwards
 
Other current assets
 
$
19

 
$
26

 
 
Other current liabilities
 
(22
)
 
(18
)
 
 
Net Undesignated Asset
 
$
(3
)
 
$
8

 
 
 
 
 
 
 
Summary of Derivatives
 
Total Derivative Assets
 
$
58

 
$
56

 
 
Total Derivative Liabilities
 
(31
)
 
(19
)
 
 
Net Derivative Asset
 
$
27

 
$
37

Summary of Fair Value Hedges Gains (Losses)
Derivatives in Fair Value
Relationships
 
Location of Gain (Loss)
Recognized in Income
 
Derivative Gain (Loss)
Recognized in Income
Three Months
Ended September 30,
 
Hedged Item Gain (Loss)
Recognized in Income
Three Months
Ended September 30,
2011
 
2010
 
2011
 
2010
Interest rate contracts
 
Interest expense
 
$
—

 
$
35

 
$
—

 
$
(35
)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Derivatives in Fair Value
Relationships
 
Location of Gain (Loss)
Recognized in Income
 
Derivative Gain (Loss)
Recognized in Income
Nine Months
Ended September 30,
 
Hedged Item Gain (Loss)
Recognized in Income
Nine Months
Ended September 30,
2011
 
2010
 
2011
 
2010
Interest rate contracts
 
Interest expense
 
$
16

 
$
113

 
$
(16
)
 
$
(113
)
Summary of Cash Flow Hedges Gains (Losses)
Derivatives in Cash Flow
Hedging Relationships
 
Derivative Gain (Loss)
Recognized in OCI
(Effective Portion)
Three Months
Ended September 30,
 
Location of Derivative
Gain (Loss) Reclassified
from AOCI into Income
(Effective Portion)
 
Gain (Loss) Reclassified
from AOCI to Income
(Effective Portion)
Three Months
Ended September 30,
 
2011
 
2010
 
 
2011
 
2010
Foreign exchange contracts – forwards
 
$
43

 
$
(2
)
 
Cost of sales
 
$
4

 
$
7

 
 
 
 
 
 
 
 
 
 
 
Derivatives in Cash Flow
Hedging Relationships
 
Derivative Gain (Loss)
Recognized in OCI
(Effective Portion)
Nine Months
Ended September 30,
 
Location of Derivative
Gain (Loss) Reclassified
from AOCI into Income
(Effective Portion)
 
Gain (Loss) Reclassified
from AOCI to Income
(Effective Portion)
Nine Months
Ended September 30,
 
2011
 
2010
 
 
2011
 
2010
Foreign exchange contracts – forwards
 
$
19

 
23

 
Cost of sales
 
$
—

 
18

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
September 30,
 
Nine Months Ended
September 30,
Location of Derivative Gain (Loss)
 
2011
 
2010
 
2011
 
2010
Foreign exchange contracts – forwards
 
Other expense – Currency gains (losses), net
 
$
19

 
$
(2
)
 
$
3

 
$
87