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Derivative Financial Instruments (Tables)
12 Months Ended
Dec. 31, 2015
Derivative Instruments And Hedging Activities Disclosure [Abstract]  
Fair Values of Derivative Instruments

The following tables summarize the fair values of our derivative instruments (in millions):

 

 

 

December 31, 2015

 

 

December 31, 2014

 

 

 

Balance Sheet

Location

 

Fair

Value

 

 

Balance Sheet

Location

 

Fair

Value

 

Derivatives designated as

   hedging instruments

 

 

 

 

 

 

 

 

 

 

 

 

Asset Derivatives

 

 

 

 

 

 

 

 

 

 

 

 

Interest rate swaps

 

Other assets

 

$

4

 

 

Other assets

 

$

4

 

Forward contracts

 

Prepaid expenses and other

 

 

1

 

 

Prepaid expenses and other

 

 

1

 

Total assets

 

 

 

$

5

 

 

 

 

$

5

 

 

 

 

December 31, 2015

 

 

December 31, 2014

 

 

 

Balance Sheet

Location

 

Fair

Value

 

 

Balance Sheet

Location

 

Fair

Value

 

Derivatives not designated as

   hedging instruments

 

 

 

 

 

 

 

 

 

 

 

 

Asset Derivatives

 

 

 

 

 

 

 

 

 

 

 

 

Forward contracts

 

Prepaid expenses and other

 

$

9

 

 

Prepaid expenses and other

 

$

9

 

Liability Derivatives

 

 

 

 

 

 

 

 

 

 

 

 

Forward contracts

 

Accrued expenses

 

$

1

 

 

Accrued expenses

 

$

20

 

 

 

Derivative Instruments Gain (Loss) Recognized in Income

The following table presents the effect of our derivatives on our Consolidated Statements of Income (in millions):

 

Derivatives Not Designated as Hedging Instruments

 

Location of

Gain (Loss)

Recognized in

Income on Derivative

 

Amount of

Gain (Loss)

Recognized in

Income on Derivative

 

 

 

 

 

Year Ended

December 31,

 

 

 

 

 

2015

 

 

2014

 

 

2013

 

Foreign forward exchange contracts

 

Interest expense, net

 

$

(21

)

 

$

(2

)

 

$

14