Derivative and Other Financial Instruments (Tables)

9 Months Ended

Sep. 30, 2013

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 the fair value of derivative instruments.

	Amount of gain/(loss)						Amount of gain/(loss)
	recognized in AOCI						reclassified from AOCI
	(effective portion)						into earnings
	Three Months Ended			Nine Months Ended			Three Months Ended			Nine Months Ended
Derivatives in cash flow hedges	September 30, 2013			September 30, 2013			September 30, 2013			September 30, 2013
Foreign exchange	$	(2	)	$	(1	)	$	(1	)	$	—		(1)
Commodities	(24		)	(38		)	(12		)	(25		)	(2)
Total	$	(26	)	$	(39	)	$	(13	)	$	(25	)

	Amount of gain/(loss) recognized in AOCI (effective portion)						Amount of gain/(loss) reclassified from AOCI into earnings
	Three Months Ended			Nine Months Ended			Three Months Ended			Nine Months Ended
Derivatives in cash flow hedges	September 30, 2012			September 30, 2012			September 30, 2012			September 30, 2012
Foreign exchange	$	—		$	(3	)	$	—		$	—		(3)
Commodities	(58		)	(73		)	(21		)	(39		)	(4)
Total	$	(58	)	$	(76	)	$	(21	)	$	(39	)

(1) Within the Statement of Operations for the three months ended September 30, 2013, a gain of $4 was recognized in cost of products sold and a loss of $5 was recognized in net sales. During the nine months ended September 30, 2013 a gain of $6 was recognized in cost of products sold and a loss of $6 was recognized in net sales.

(2) Within the Statement of Operations for the three months ended September 30, 2013, a net loss of $16, including a reduction of $2 for ineffectiveness, was recognized in cost of products sold and a tax benefit of $4 was recognized in income tax expense. During the nine months ended September 30, 2013 a loss of $34, including a reduction of $3 for ineffectiveness, was recognized in cost of products sold and a tax benefit of $9 was recognized in income tax expense.

(3) 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 $6 was recognized in cost of products sold and a loss of $7 was recognized in net sales.

(4) Within the Statement of Operations for the three months ended September 30, 2012 , a loss of $28. including ineffectiveness of $4 , 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, including ineffectiveness of $4 ,was recognized in cost of products sold and a tax benefit of $12 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 September 30, 2013 and December 31, 2012, respectively.

	Balance Sheet Classification	Fair Value Hierarchy	September 30, 2013		December 31, 2012
Derivative Assets
Derivatives designated as hedges:
Foreign exchange	Other current assets	2	$	15	$	5
Commodities	Other current assets	1	1		5
Commodities	Other non-current assets	1	—		1
Derivatives not designated as hedges:
Foreign exchange	Other current assets	2	13		11
	Total		$	29	$	22
Derivative Liabilities
Derivatives designated as hedges:
Foreign exchange	Accounts payable and accrued liabilities	2	$	17	$	6
Commodities	Accounts payable and accrued liabilities	1	26		17
Commodities	Other non-current liabilities	1	3		3
Derivatives not designated as hedges:
Foreign exchange	Accounts payable and accrued liabilities	2	7		4
	Total		$	53	$	30

Schedule of Offsetting Derivative Assets and Liabilities

In the table below, the aggregate fair values of the the Company's derivative assets and liabilities are presented on both a gross and net basis, where appropriate.

	Gross Amounts Recognized in the Balance Sheet	Gross Amounts Not Offset in the Balance Sheet	Net Amount
Balance at September 30, 2013
Derivative Assets	29	5	24
Derivative Liabilities	53	5	48
Balance at December 31, 2012
Derivative Assets	22	7	15
Derivative Liabilities	30	7	23

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, 2013 and December 31, 2012 were:

	September 30, 2013		December 31, 2012
Derivatives in cash flow hedges:
Foreign exchange	$	632	$	471
Commodities	402		434
Derivatives in fair value hedges:
Foreign exchange	118		105
Derivatives not designated as hedges:
Foreign exchange	662		924