Derivative Instruments and Hedging Activities (Tables)

9 Months Ended

Sep. 30, 2016

Derivative Instruments And Hedging Activities Disclosure [Abstract]

Fair Values of Outstanding Derivative Instruments

The fair values of outstanding derivative instruments were as follows:

			(Stated in millions)
	Fair Value of Derivatives				Consolidated Balance Sheet Classification
	Sept. 30,		Dec. 31,
	2016		2015
Derivative Assets
Derivatives designated as hedges:
Foreign exchange contracts	$	8	$	4	Other current assets
Foreign exchange contracts		-		6	Other Assets
	$	8	$	10
Derivatives not designated as hedges:
Foreign exchange contracts	$	40	$	15	Other current assets
Foreign exchange contracts		1		-	Other Assets
	$	49	$	25
Derivative Liabilities
Derivatives designated as hedges:
Foreign exchange contracts	$	23	$	37	Accounts payable and accrued liabilities
Foreign exchange contracts		1		3	Other Liabilities
Cross currency swap		32		22	Other Liabilities
	$	56	$	62
Derivatives not designated as hedges:
Foreign exchange contracts	$	38	$	25	Accounts payable and accrued liabilities
Foreign exchange contracts		1		-	Other Liabilities
	$	95	$	87

Effect of Derivative Instruments Designated as Fair Value Hedges and Not Designated as Hedges on Consolidated Statement of Income

The effect of derivative instruments designated as fair value hedges and those not designated as hedges on the Consolidated Statement of Income was as follows:

							(Stated in millions)
	Gain (Loss) Recognized in Income
	Third Quarter						Nine Months
	2016			2015			2016			2015			ConsolidatedStatement  of Income Classification
Derivatives designated as fair value hedges:
Cross currency swap	$	5		$	(2	)	$	9		$	(53	)	Interest
Derivatives not designated as hedges:
Foreign exchange contracts	$	(28	)	$	(48	)	$	(166	)	$	(109	)	Cost of service/sales