DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES (Tables)

12 Months Ended

Dec. 31, 2015

DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES

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

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

	Year Ended December 31,
	2015			2014			2013
Foreign currency contracts
Exchange contracts	$	4		$	5		$	2
Forward contracts		(3	)		—			1
Metals contracts		(17	)		(3	)		(7	)
Interest rate swaps		(2	)		(2	)		(2	)
Total	$	(18	)	$	—		$	(6	)

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 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	)

	At December 31, 2014
	Notional Amount		Balance Sheet
Foreign currency contracts
Exchange contracts	$	55
Receivables			$	6
Forward contracts		79
Other assets				2
Accrued liabilities				(1	)
Metals contracts		70
Accrued liabilities				(2	)