Commitments and Contingent Liabilities (Tables)

3 Months Ended

Mar. 31, 2017

Commitments and Contingencies Disclosure [Abstract]

Schedule of Guarantor Obligations

Guarantees consisted of the following:

(In millions)	March 31, 2017
Financial guarantees (1)	$	827.7
Performance guarantees (2)		3,952.1
Maximum potential undiscounted payments	$	4,779.8

⁽¹⁾ Financial guarantees represent contracts that contingently require a guarantor to make payments to a guaranteed party based on changes in an underlying agreement that is related to an asset, a liability, or an equity security of the guaranteed party. These tend to be drawn down only if the Company fails to fulfill its financial obligations.

⁽²⁾ Performance guarantees represent contracts that contingently require a guarantor to make payments to a guaranteed party based on another entity’s failure to perform under a nonfinancial obligating agreement. Events that trigger payment are performance related, such as failure to ship a product or provide a service.