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FAIR VALUE MEASUREMENTS AND FINANCIAL INSTRUMENTS (Tables)
12 Months Ended
Dec. 31, 2015
Fair Value Disclosures [Abstract]  
Assets And Liabilities Remeasured And Disclosed At Fair Value On Recurring Basis
Assets and liabilities measured and disclosed at fair value on a recurring basis at December 31, 2015 and 2014 are set forth in the table below:
 
 
Asset
(Liability)
 
Level 2
December 31, 2015:
 
 
 
 
Commodity contracts
 
$
(3
)
 
$
(3
)
 
 
 
 
 
December 31, 2014:
 
 
 
 
Commodity contracts
 
$
(1
)
 
$
(1
)
Fair Value Of Assets And Liabilities Measured On Nonrecurring Basis
Estimated fair values of the Company’s term loans under the Credit Agreement were:
 
As of December 31,
 
2015
 
2014
 
 
Carrying Value
Fair Value
 
Carrying Value
Fair Value
Measurement Approach
Term Loans
$
2,559

$
2,273

 
$
2,583

$
2,571

Level 2
Summary Of Activity For U.S. Plan Assets Classified In Level 3
The following tables summarize the activity for the U.S. plan assets classified in level 3:
 
 
Balance at
December 31,
2014
 
Net Realized/
Unrealized
Gains (Loss)
 
Purchases,
and
Settlements,
Net
 
Sales,
Net
 
Transfers
Into (Out) of
Level 3
 
Foreign
Currency
Exchange
Rate
Movements
 
Balance at
December 31,
2015
 
 
 
Assets
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Hedge funds and other
 
$
91

 
$
(5
)
 
$

 
$

 
$

 
$

 
$
86

 
 
Balance at
December 31,
2013
 
Net Realized/
Unrealized
Gains (Loss)
 
Purchases,
and
Settlements,
Net
 
Sales,
Net
 
Transfers
Into (Out) of
Level 3
 
Foreign
Currency
Exchange
Rate
Movements
 
Balance at
December 31,
2014
 
 
 
Assets
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Hedge funds and other
 
$
85

 
$
6

 
$
47

 
$
(47
)
 
$

 
$

 
$
91

The following tables summarize the activity for the non-U.S. plan assets classified in level 3:
 
 
Balance at
December 31,
2014
 
Net Realized/
Unrealized
Gains (Loss)
 
Purchases,
and
Settlements,
Net
 
Sales,
Net
 
Transfers
Into (Out) of
Level 3
 
Foreign
Currency
Exchange
Rate
Movements
 
Balance at
December 31,
2015
 
 
 
Assets
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Insurance contracts
 
$
41

 
$
1

 
$
6

 
$
(4
)
 
$

 
$
(4
)
 
$
40

 
 
Balance at
December 31,
2013
 
Net
Realized/
Unrealized
Gains (Loss)
 
Purchases,
and
Settlements,
Net
 
Sales,
Net
 
Transfers
Into (Out)
of Level 3
 
Foreign
Currency
Exchange
Rate
Movements
 
Balance at
December 31,
2014
 
 
 
Assets
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Insurance contracts
 
$
44

 
$
2

 
$
6

 
$
(5
)
 
$

 
$
(6
)
 
$
41