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Derivative Financial Instruments (Tables)
 9 Months Ended
Sep. 30, 2012
General Discussion of Derivative Instruments and Hedging Activities [Abstract]  
Accumulated Other Comprehensive Income ("AOCI") And Earnings From Changes In Fair Value Related To Derivative Instruments
The following table sets forth financial information about the impact on Accumulated Other Comprehensive Income (“AOCI”) and earnings from changes in fair value related to derivative instruments.
 
 
 Amount of gain/(loss)
 
 Amount of gain/(loss)
 
 
 
recognized in AOCI
 
reclassified from AOCI
 
 
 
(effective portion)
 
into earnings
 
 
 
Quarter
 
Nine months
 
Quarter
 
Nine months
 
 
 
ended
 
ended
 
ended
 
ended
 
Derivatives in cash flow hedges
 
September 30, 2012
 
September 30, 2012
 
September 30, 2012
 
September 30, 2012
 
 
 
 
 
 
 
 
 
 
 
Foreign exchange
 
$
—

 
$
(3
)
 
$
—

 
$
—

(1) 
Commodities
 
(58
)
 
(73
)
 
(21
)
 
(39
)
(2) 
Total
 
$
(58
)
 
$
(76
)
 
$
(21
)
 
$
(39
)
 

 
 
 Amount of gain/(loss)
 
 Amount of gain/(loss)
 
 
 
recognized in AOCI
 
reclassified from AOCI
 
 
 
(effective portion)
 
into earnings
 
 
 
Quarter
 
Nine months
 
Quarter
 
Nine months
 
 
 
ended
 
ended
 
ended
 
ended
 
Derivatives in cash flow hedges
 
September 30, 2011
 
September 30, 2011
 
September 30, 2011
 
September 30, 2011
 
 
 
 
 
 
 
 
 
 
 
Foreign exchange
 
$
(1
)
 
$
(5
)
 
$
(2
)
 
$
(3
)
(3) 
Commodities
 
(41
)
 
(41
)
 
6

 
22

(4) 
Total
 
$
(42
)
 
$
(46
)
 
$
4

 
$
19

 

(1) Within the Statement of Operations for the three months ended September 30, 2012, a gain of $3 was recognized in cost of products sold and a loss of $3 was recognized in net sales. During the nine months ended September 30, 2012, a gain of $10 was recognized in cost of products sold and a loss of $10 recognized in net sales.

(2) Within the Statement of Operations for the three months ended September 30, 2012, a loss of $28 was recognized in cost of products sold and a tax benefit of $7 was recognized in income tax expense. During the nine months ended September 30, 2012, a loss of $51 was recognized in cost of products sold and a tax benefit of $12 was recognized in income tax expense.

(3) Within the Statement of Operations for the three months ended September 30, 2011, a gain of $1 was recognized in cost of products sold and a loss of $3 was recognized in net sales. During the nine months ended September 30, 2011, a loss of $2 was recognized in net sales and a loss of $1 was recognized in cost of products sold.

(4) Within the Statement of Operations for the three months ended September 30, 2011, a gain of $8 was recognized in cost of products sold and $2 was recognized as additional income tax expense. During the nine months ended September 30, 2011, a gain of $30 was recognized in cost of products sold and $8 was recognized as additional income tax expense.
Fair Value Of Outstanding Derivative Instruments In The Consolidated Balance Sheets
The following table sets forth the fair value hierarchy for the Company's financial assets and liabilities that were accounted for at fair value on a recurring basis as of September 30, 2012 and December 31, 2011, respectively.
Derivative Assets
 
Balance Sheet Classification
 
Fair Value Hierarchy
 
September 30, 2012
 
December 31, 2011
Derivatives designated as hedges:
 
 
 
 
 
 
Foreign exchange
 
Other current assets
 
2
 
$
12

 
$
9

Commodities
 
Other current assets
 
1
 
9

 
4

Commodities
 
Other non-current assets
 
1
 
3

 
—

Derivatives not designated as hedges:
 
 
 
 
 

Foreign exchange
 
Other current assets
 
2
 
6

 
6

 
 
Total
 
 
 
$
30

 
$
19

 
 
 
 
 
 
 
 
 
Derivative Liabilities
 
Balance Sheet Classification
 
 
 
 
 
 
Derivatives designated as hedges:
 
 
 
 
 
 
Foreign exchange
 
Accounts payable and accrued liabilities
 
2
 
$
11

 
$
10

Commodities
 
Accounts payable and accrued liabilities
 
1
 
19

 
56

Commodities
 
Other non-current liabilities
 
1
 
3

 
6

Derivatives not designated as hedges:
 
 
 
 
 

Foreign exchange
 
Accounts payable and accrued liabilities
 
2
 
5

 
10

 
 
Total
 
 
 
$
38

 
$
82
Notional Values Of Outstanding Derivative Instruments In The Consolidated Balance Sheet
The aggregate U.S. dollar-equivalent notional values of outstanding derivative instruments in the Consolidated Balance Sheets at September 30, 2012 and December 31, 2011 were:
 
September 30, 2012
 
December 31, 2011
Derivatives in cash flow hedges:
 
 
 
Foreign exchange
$
357

 
$
480

Commodities
428

 
528

Derivatives in fair value hedges:

 

Foreign exchange
127

 
123

Derivatives in net investment hedges:
 
 
 
Foreign exchange
38

 
—

Derivatives not designated as hedges:

 

Foreign exchange
359

 
965