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Derivative Financial Instruments (Tables)
6 Months Ended
Jun. 30, 2016
Derivative Instruments And Hedging Activities Disclosure [Abstract]  
Fair Values of Derivative Instruments

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

 

 

 

June 30,

 

 

December 31,

 

 

 

2016

 

 

2015

 

 

 

Balance Sheet

 

Fair

 

 

Balance Sheet

 

Fair

 

 

 

Location

 

Value

 

 

Location

 

Value

 

Derivatives designated as

   hedging instruments

 

 

 

 

 

 

 

 

 

 

 

 

Asset Derivatives

 

 

 

 

 

 

 

 

 

 

 

 

Interest rate swaps

 

Other assets

 

$

8

 

 

Other assets

 

$

4

 

Forward contracts

 

Prepaid expenses and other

 

 

 

 

Prepaid expenses and other

 

 

1

 

Total assets

 

 

 

$

8

 

 

 

 

$

5

 

Liability Derivatives

 

 

 

 

 

 

 

 

 

 

 

 

Forward contracts

 

Accrued expenses

 

$

 

 

Accrued expenses

 

$

 

 

 

 

June 30,

 

 

December 31,

 

 

 

2016

 

 

2015

 

 

 

Balance Sheet

 

Fair

 

 

Balance Sheet

 

Fair

 

 

 

Location

 

Value

 

 

Location

 

Value

 

Derivatives not designated as

   hedging instruments

 

 

 

 

 

 

 

 

 

 

 

 

Asset Derivatives

 

 

 

 

 

 

 

 

 

 

 

 

Forward contracts

 

Prepaid expenses and other

 

$

 

 

Prepaid expenses and other

 

$

9

 

Liability Derivatives

 

 

 

 

 

 

 

 

 

 

 

 

Forward contracts

 

Accrued expenses

 

$

6

 

 

Accrued expenses

 

$

1

 

 

Derivative Instruments Gain (Loss) Recognized in Income

The following table presents the effect of our derivatives on our consolidated statements of operations (in millions):

 

 

 

Location of

 

Amount of

 

 

 

Gain (Loss)

 

Gain (Loss)

 

 

 

Recognized in

 

Recognized in

 

Derivatives Not Designated as Hedging Instruments

 

Income on Derivative

 

Income on Derivative

 

 

 

 

 

Three Months Ended

 

 

 

 

 

June 30,

 

 

 

 

 

2016

 

 

2015

 

Foreign forward exchange contracts

 

Interest expense, net

 

$

(14

)

 

$

4

 

 

 

 

Location of

 

Amount of

 

 

 

Gain (Loss)

 

Gain (Loss)

 

 

 

Recognized in

 

Recognized in

 

Derivatives Not Designated as Hedging Instruments

 

Income on Derivative

 

Income on Derivative

 

 

 

 

 

Six Months Ended

 

 

 

 

 

June 30,

 

 

 

 

 

2016

 

 

2015

 

Foreign forward exchange contracts

 

Interest expense, net

 

$

(18

)

 

$

(24

)