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Derivative and Other Financial Instruments (Tables)
12 Months Ended
Dec. 31, 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
 
Derivatives in cash flow hedges
 
2012
 
2011
 
2012
 
2011
 
 
 
 
 
 
 
 
 
 
 
Foreign exchange
 
$

 
$
(8
)
 
$

 
$
(5
)
(1) 
Commodities
 
(82
)
 
(66
)
 
(46
)
 
18

(2) 
Total
 
$
(82
)
 
$
(74
)
 
$
(46
)
 
$
13

 

(1) Within the Statement of Operations for the twelve months ended December 31, 2012, a gain of $14 was recognized in cost of products sold and a loss of $14 was recognized in net sales. During the twelve months ended December 31, 2011, a gain of $1 was recognized in cost of products sold and a loss of $6 recognized in net sales.

(2) Within the Statement of Operations for the twelve months ended December 31, 2012, a loss of $60, including $3 of ineffectiveness, was recognized in cost of products sold and a tax benefit of $14 was recognized in income tax expense. During the twelve months ended December 31, 2011, a gain of $25 was recognized in cost of products sold and a tax charge of $7 was recognized in 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 December 31, 2012 and December 31, 2011, respectively.
Derivative Assets
 
Balance Sheet Classification
 
Fair Value Hierarchy
 
December 31, 2012
 
December 31, 2011
Derivatives designated as hedges:
 
 
 
 
 
 
Foreign exchange
 
Other current assets
 
2
 
$
5

 
$
9

Commodities
 
Other current assets
 
1
 
5

 
4

Commodities
 
Other non-current assets
 
1
 
1

 

Derivatives not designated as hedges:
 
 
 
 
 

Foreign exchange
 
Other current assets
 
2
 
11

 
6

 
 
Total
 
 
 
$
22

 
$
19

 
 
 
 
 
 
 
 
 
Derivative Liabilities
 
Balance Sheet Classification
 
 
 
 
 
 
Derivatives designated as hedges:
 
 
 
 
 
 
Foreign exchange
 
Accounts payable and accrued liabilities
 
2
 
$
6

 
$
10

Commodities
 
Accounts payable and accrued liabilities
 
1
 
17

 
56

Commodities
 
Other non-current liabilities
 
1
 
3

 
6

Derivatives not designated as hedges:
 
 
 
 
 

Foreign exchange
 
Accounts payable and accrued liabilities
 
2
 
4

 
10

 
 
Total
 
 
 
$
30

 
$
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 December 31, 2012 and December 31, 2011 were:
 
December 31, 2012
 
December 31, 2011
Derivatives in cash flow hedges:
 
 
 
Foreign exchange
$
471

 
$
480

Commodities
434

 
528

Derivatives in fair value hedges:

 

Foreign exchange
105

 
123

Derivatives not designated as hedges:

 

Foreign exchange
924

 
965