Derivatives and Hedging (Tables)

3 Months Ended

Mar. 31, 2018

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Notional and fair values of derivative instruments

The notional and fair values of derivative instruments are as follows (in millions):



	Notional Amount				Net Amount of Derivative Assets Presented in the Statements of Financial Position ⁽¹⁾				Net Amount of Derivative Liabilities Presented in the Statements of Financial Position ⁽²⁾
	March 31, 2018		December 31, 2017		March 31, 2018		December 31, 2017		March 31, 2018		December 31, 2017
Foreign exchange contracts
Accounted for as hedges	$	758	$	701	$	45	$	31	$	1	$	3
Not accounted for as hedges ⁽³⁾	329		254		1		1		1		3
Total	$	1,087	$	955	$	46	$	32	$	2	$	6


(1)	Included within Other current assets ($13 million at March 31, 2018 and $9 million at December 31, 2017) or Other non-current assets ($33 million at March 31, 2018 and $23 million at December 31, 2017).


(2)	Included within Other current liabilities ($1 million at March 31, 2018 and $3 million at December 31, 2017) or Other non-current liabilities ($1 million at March 31, 2018 and $3 million at December 31, 2017).


(3)	These contracts typically are for 30 day durations and executed close to the last day of the most recent reporting month, thereby resulting in nominal fair values at the balance sheet date.

Derivative gains (losses)

The amounts of derivative gains (losses) recognized in the Condensed Consolidated Financial Statements are as follows (in millions):



	Three Months Ended
	March 31, 2018		March 31, 2017
Gain (Loss) Recognized in Accumulated Other Comprehensive Loss	$	14	$	6

Location of future reclassification from Accumulated Other Comprehensive Loss
Compensation and benefits	$	—	$	8
Other general expenses	$	4	$	1
Other income (expense)	$	10	$	(3	)

The amounts of derivative gains (loss) reclassified from Accumulated other comprehensive loss into the Condensed Consolidated Statements of Income (effective portion) are as follows (in millions):



	Three Months Ended
	March 31, 2018			March 31, 2017
Compensation and benefits	$	1		$	13
Other general expenses	(1		)	(1		)
Interest expense	(1		)	—
Other income (expense)	(3		)	(2		)
Total	$	(4	)	$	10