Derivative Instruments and Hedging Activities (Tables)

6 Months Ended

Jun. 30, 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 condensed consolidated statements of operations are as follows, in millions:

	Three Months Ended						Six Months Ended
	June 30,						June 30,
	2015			2014			2015			2014
Foreign currency contracts
Exchange contracts	$	(1	)	$	(1	)	$	3		$	(3	)
Forward contracts	—			—			(4		)	(1		)
Metal contracts	(3		)	3			(5		)	—
Interest rate swaps	(1		)	(1		)	(1		)	(1		)
Total (loss) gain	$	(5	)	$	1		$	(7	)	$	(5	)

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, 2015
	Notional
	Amount		Balance Sheet
Foreign currency contracts
Exchange contracts	$	18
Receivables			$	1
Forward contracts	49
Accrued liabilities			(3		)
Other liabilities			(1		)
Metals contracts	75
Accrued liabilities			(6		)

	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		)