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ACQUISITIONS (Tables)
 12 Months Ended
Dec. 31, 2015
Business Combinations [Abstract]  
Schedule of Business Acquisitions, by Acquisition
The following table summarizes the fair values of the assets acquired and liabilities assumed at the acquisition date.
 
 
Fair Value
 
 
 
Cash, net of assumed debt
 
$
6

Accounts receivable, net
 
107

Inventory, net
 
74

Property, plant and equipment, net
 
178

Accounts payable
 
(107
)
Acquired postretirement benefits
 
(81
)
Other net assets
 
6

Total identifiable net assets
 
$
183
Business Acquisition, Pro Forma Information, Nonrecurring Adjustments
The following table summarizes the estimated fair values of the assets acquired and liabilities assumed at the acquisition date. The Company is in the process of finalizing certain customary post-closing adjustments which could have an effect on the third-party valuations of certain tangible assets; thus, the provisional measurements of net assets are subject to change.

 
 
Estimated Fair Value at Acquisition
 
Measurement Period Adjustments
 
Estimated Fair Value as of December 31, 2015
Cash
 
$
14

 
$
—

 
$
14

Accounts receivable, net
 
31

 
—

 
31

Inventory, net
 
36

 
—

 
36

Property, plant and equipment, net
 
287

 
(53
)
 
234

Goodwill
 
58

 
16

 
74

Other identified intangible assets
 
69

 
38

 
107

Accounts payable
 
(21
)
 
(1
)
 
(22
)
Accrued liabilities
 
(36
)
 
(3
)
 
(39
)
Acquired postretirement benefits
 
(45
)
 
(1
)
 
(46
)
Other net assets
 
1

 
—

 
1

Total identifiable net assets
 
$
394

 
$
(4
)
 
$
390
Business Acquisition, Pro Forma Information
The following proforma results for the years ended December 31, 2015 and 2014 assume the Affinia chassis business acquisition, the purchase of Honeywell's braking component business and the acquisition of TRW’s valvetrain business occurred as of the beginning of 2014 and is inclusive of provisional purchase price adjustments. The proforma results are not necessarily indicative of the results that actually would have been obtained.
 
 
Year Ended December 31
 
 
2015
 
2014
 
 
Unaudited
 
 
 
 
 
Net sales
 
$
7,463

 
$
8,154

 
 
 
 
 
Net loss attributable to Federal-Mogul
 
$
(110
)
 
$
(161
)
 
 
 
 
 
Loss per share attributable to Federal-Mogul - basic and diluted
 
$
(0.67
)
 
$
(1.07
)