Supplementary Financial Information

12 Months Ended

Dec. 31, 2016

Quarterly Financial Information Disclosure [Abstract]

Supplementary Financial Information

Supplementary Financial Information

The components of accounts receivable, net are as follows (in millions):

	December 31,
	2016			2015
Accounts receivable	$	628		$	677
Allowance for doubtful accounts	(3		)	(6		)
Accounts receivable, net	$	625		$	671

Prepaid expenses and other current assets consist of the following (in millions):

	December 31,
	2016		2015
Foreign Exchange Contracts	$	23	$	7
Other	41		63
Prepaid expenses and other current assets	$	64	$	70

The components of accrued liabilities are as follows (in millions):

	December 31,
	2016		2015
Accrued incentive compensation	$	52	$	68
Customer reserves	50		38
Accrued payroll	51		49
Interest payable	20		36
Accrued other expenses	150		176
Total accrued liabilities	$	323	$	367

Summary of Quarterly Results of Operations (unaudited)

(In millions):

	2016
	First Quarter			Second Quarter			Third Quarter			Fourth Quarter		Total Year
Total Net sales	$	849		$	879		$	904		$	942	$	3,574
Gross profit	390			406			414			432		1,642
Net (loss) income	(26		)	(45		)	(83		)	17		(137		)
Net earnings per common share:
Basic	$	(0.50	)	$	(0.88	)	$	(1.61	)	$	0.34	$	(2.65	)
Diluted	(0.50		)	(0.88		)	(1.61		)	0.34		(2.65		)

	2015
	First Quarter			Second Quarter			Third Quarter			Fourth Quarter			Total Year
Total Net sales	$	893		$	890		$	916		$	951		$	3,650
Gross profit	409			393			414			428			1,644
Net loss	(25		)	(76		)	(29		)	(28		)	(158		)
Net earnings per common share:
Basic	$	(0.50	)	$	(1.50	)	$	(0.57	)	$	(0.53	)	$	(3.10	)
Diluted	(0.50		)	(1.50		)	(0.57		)	(0.53		)	(3.10		)