Derivative Instruments and Hedging Activities (Tables)

6 Months Ended

Jun. 30, 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 (losses) gains included in the Company’s condensed consolidated statements of operations is as follows, in millions:

	Three Months Ended						Six Months Ended
	June 30,						June 30,
	2014			2013			2014			2013
Foreign Currency Contracts
Exchange Contracts	$	(1	)	$	—		$	(3	)	$	7
Forward Contracts	—			—			(1		)	2
Metal Contracts	3			(5		)	—			(9		)
Total gain (loss)	$	2		$	(5	)	$	(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, are as follows, in millions:

	At June 30, 2014
	Notional
	Amount		Assets		Liabilities
Foreign Currency Contracts
Exchange Contracts	$	96
Current liabilities			$	—	$	2
Forward Contracts	50
Current liabilities			—		1
Metals Contracts	56
Current assets			2		1
Total			$	2	$	4

	At December 31, 2013
	Notional
	Amount		Assets		Liabilities
Foreign Currency Contracts
Exchange Contracts	$	53
Current liabilities			$	—	$	2
Forward Contracts	88
Current liabilities			—		1
Metals Contracts	48
Current liabilities			—		2
Total			$	—	$	5