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Financial Instruments (Tables)
 6 Months Ended
Jun. 30, 2015
Financial Instruments Disclosure [Abstract]  
Schedule of Notional Amounts of Outstanding Derivative Positions
 
June 30, 2015
December 31, 2014
Derivatives designated as hedging instruments:
 
 
Interest rate swaps
$
—

$
1,000

Foreign currency contracts
14

434

Commodity contracts
126

388

Derivatives not designated as hedging instruments:
 
 
Foreign currency contracts
9,015

10,586

Commodity contracts
17

166
Schedule of Cash Flow Hedges Included in Accumulated Other Comprehensive Income (Loss)
 
Three Months Ended
Six Months Ended
 
June 30,
June 30,
 
2015
2014
2015
2014
Beginning balance
$
(18
)
$
(13
)
$
(6
)
$
(48
)
Additions and revaluations of derivatives designated as cash flow hedges
5

(8
)
(11
)
16

Clearance of hedge results to earnings
3

8

7

19

Ending balance
$
(10
)
$
(13
)
$
(10
)
$
(13
)
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value
 
 
Fair Value Using Level 2 Inputs
 
Balance Sheet Location
June 30, 2015
December 31, 2014
Asset derivatives:
 
 
 
Derivatives designated as hedging instruments:
 
 
 
Interest rate swaps1
Accounts and notes receivable, net
$
—

$
1

Foreign currency contracts
Accounts and notes receivable, net
—

10

 
 
—

11

Derivatives not designated as hedging instruments:
 
 

 
Foreign currency contracts2
Accounts and notes receivable, net
61

254

 
 




Total asset derivatives3
 
$
61

$
265

Cash collateral1,2
Other accrued liabilities
$
4

$
47

 
 
 
 
Liability derivatives:
 
 

 
Derivatives designated as hedging instruments:
 
 

 
Foreign currency contracts
Other accrued liabilities
$
1

$
10

 
 
 
 
Derivatives not designated as hedging instruments:
 
 

 
Foreign currency contracts
Other accrued liabilities
54

62

Commodity contracts
Other accrued liabilities
1

1

 
 
55

63

Total liability derivatives3
 
$
56

$
73



1 
Cash collateral held as of June 30, 2015 and December 31, 2014 represents $0 and $6, respectively, related to interest rate swap derivatives designated as hedging instruments.
2 
Cash collateral held as of June 30, 2015 and December 31, 2014 represents $4 and $41, respectively, related to foreign currency derivatives not designated as hedging instruments.
3 
The company's derivative assets and liabilities subject to enforceable master netting arrangements totaled $36 at June 30, 2015 and $67 at December 31, 2014.
Schedule of Derivative Instruments, Gain (Loss) in Statement of Financial Performance
 
Amount of Gain (Loss)
Recognized in OCI1
(Effective Portion)
Amount of Gain (Loss)
Recognized in Income2
 
Three Months Ended June 30,
2015
2014
2015
2014
Income Statement Classification
Derivatives designated as hedging instruments:
 
 
 
 
 
Fair value hedges:
 
 
 
 
 
Interest rate swaps
$
—

$
—

$
—

$
(6
)
Interest expense
Cash flow hedges:
 
 
 
 
 
Foreign currency contracts
1

—

2

(1
)
Net sales
Commodity contracts
7

(12
)
(7
)
(12
)
Cost of goods sold
 
8

(12
)
(5
)
(19
)
 
Derivatives not designated as hedging instruments:
 
 
 
 
 
Foreign currency contracts
—

—

(7
)
(70
)
Other income, net3
Foreign currency contracts
—

—

(3
)
—

Net sales
Commodity contracts
—

—

3

(1
)
Cost of goods sold
 
—

—

(7
)
(71
)
 
Total derivatives
$
8

$
(12
)
$
(12
)
$
(90
)
 

 
Amount of Gain (Loss)
Recognized in OCI1
(Effective Portion)
Amount of Gain (Loss)
Recognized in Income2
 
Six Months Ended June 30,
2015
2014
2015
2014
Income Statement Classification
Derivatives designated as hedging instruments:
 
 
 
 
 
Fair value hedges:
 
 
 
 
 
Interest rate swaps
$
—

$
—

$
(1
)
$
(13
)
Interest expense
Cash flow hedges:
 
 
 
 
 
Foreign currency contracts
(1
)
(1
)
10

(2
)
Net sales
Commodity contracts
(13
)
27

(22
)
(29
)
Cost of goods sold
 
(14
)
26

(13
)
(44
)
 
Derivatives not designated as hedging instruments:
 
 
 
 
 
Foreign currency contracts
—

—

261

(116
)
Other income, net3
Foreign currency contracts
—

—

(3
)
—

Net sales
Commodity contracts
—

—

5

(25
)
Cost of goods sold
 
—

—

263

(141
)
 
Total derivatives
$
(14
)
$
26

$
250

$
(185
)
 


1  
OCI is defined as other comprehensive income (loss).
2  
For cash flow hedges, this represents the effective portion of the gain (loss) reclassified from accumulated OCI into income during the period. For the three and three and six months ended June 30, 2015 and 2014, there was no material ineffectiveness with regard to the company's cash flow hedges.
3  
Gain (loss) recognized in other income, net, was partially offset by the related gain (loss) on the foreign currency-denominated monetary assets and liabilities of the company's operations, which were $33 and $(39) for the three months ended June 30, 2015 and 2014, respectively, and $(171) and $(89) for the six months ended June 30, 2015 and 2014, respectively. See Note 4 for additional information.