Financial Instruments (Tables)

6 Months Ended

Jun. 28, 2015

Financial Instruments [Abstract]

Schedule of Long-term Debt Instruments

The components of our long-term debt follow:

	June 28,			December 31,
(MILLIONS OF DOLLARS)	2015			2014
Lines of credit, due 2016-2018	$	2		$	3
1.150% Senior Notes due 2016	400			400
1.875% Senior Notes due 2018	750			750
3.250% Senior Notes due 2023	1,350			1,350
4.700% Senior Notes due 2043	1,150			1,150
	3,652			3,653
Unamortized debt discount	(9		)	(10		)
Less current portion of long-term debt	(400		)	—
Long-term debt	$	3,243		$	3,643

Schedule of Maturities of Long-term Debt

The principal amount of long-term debt outstanding, including the current portion of long-term debt, as of June 28, 2015, matures in the following years:

											After
(MILLIONS OF DOLLARS)	2016		2017		2018		2019		2020		2020		Total
Maturities	$	401	$	—	$	751	$	—	$	—	$	2,500	$	3,652

Schedule of Derivative Instruments in Statement of Financial Position, Fair Value

The location and fair values of derivative instruments not designated as hedging instruments are as follows:

		Fair Value of Derivatives
		June 28,			December 31,
(MILLIONS OF DOLLARS)	Balance Sheet Location	2015			2014
Foreign currency forward-exchange contracts	Other current assets	$	11		$	9
Foreign currency forward-exchange contracts	Other current liabilities	(12		)	(4		)
Total foreign currency forward-exchange contracts		$	(1	)	$	5