DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES (Tables)

12 Months Ended

Dec. 31, 2014

DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES

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

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

	Year Ended December 31,
	2014			2013			2012
Foreign Currency Contracts
Exchange Contracts	$	5		$	2		$	(2	)
Forward Contracts		—			1			—
Metals Contracts		(3	)		(7	)		2
Interest rate swaps		(2	)		(2	)		4
Total	$	—		$	(6	)	$	4

Schedule of notional amounts being hedged and the fair value of derivative instruments, on a gross basis

The notional amounts being hedged and the fair value of those derivative instruments, on a gross basis, is as follows, in millions:

	At December 31, 2014
	Notional Amount		Balance Sheet
Foreign Currency Contracts
Exchange Contracts	$	55
Receivables			$	6
Forward Contracts		79
Receivables				2
Accrued liabilities				(1	)
Metals Contracts		70
Accrued liabilities				(2	)
Total

	At December 31, 2013
	Notional Amount		Balance Sheet
Foreign Currency Contracts
Exchange Contracts	$	53
Accrued liabilities			$	(2	)
Forward Contracts		88
Accrued liabilities				(1	)
Metals Contracts		48
Accrued liabilities				(2	)
Total