Derivative Instruments and Hedging Activities (Tables)

6 Months Ended

Jun. 30, 2016

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of pre-tax (losses) gains included in the Company's condensed consolidated statements of operations

The pre-tax gains (losses) included in our condensed consolidated statements of operations are as follows, in millions:

	Three Months Ended June 30,						Six Months Ended June 30,
	2016			2015			2016			2015
Foreign currency contracts:
Exchange contracts	$	—		$	(1	)	$	—		$	3
Forward contracts	—			—			—			(4		)
Metal contracts	2			(3		)	4			(5		)
Interest rate swaps	(1		)	(1		)	(1		)	(1		)
Total gain (loss)	$	1		$	(5	)	$	3		$	(7	)

Schedule of notional amounts being hedged and the fair value of derivative instruments

The notional amounts being hedged and the fair value of those derivative instruments are as follows, in millions:

	At June 30, 2016
	Notional Amount		Balance Sheet
Foreign currency contracts:
Exchange contracts	$	14
Receivables			$	—
Forward contracts	35
Accrued liabilities			(1		)
Other liabilities			(2		)
Metals contracts	23
Accrued liabilities			(2		)

F. DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES (Concluded)

	At December 31, 2015
	Notional Amount		Balance Sheet
Foreign currency contracts:
Exchange contracts	$	39
Receivables			$	1
Forward contracts	30
Accrued liabilities			(2		)
Other liabilities			(1		)
Metals contracts	50
Accrued liabilities			(10		)