Derivative Financial Instruments (Tables)

9 Months Ended

Sep. 30, 2011

Derivatives, Fair Value [Line Items]

The following table summarizes the fair value of our assets and liabilities related to derivative financial instruments and the respective line items in which they were recorded on our Condensed Consolidated Balance Sheets as of the dates presented (in millions):



	Location – Balance Sheets	September 30, 2011		December 31, 2010
Assets:
Derivatives designated as hedging instruments:
Non-U.S. currency contracts^(A)	Prepaid expenses and other current assets	$	40	$	11
Non-U.S. currency contracts	Other noncurrent assets, net	31		13
Total		71		24
Derivatives not designated as hedging instruments:
Non-U.S. currency contracts	Prepaid expenses and other current assets	5		—
Commodity contracts	Prepaid expenses and other current assets	3		4
Commodity contracts	Other noncurrent assets, net	—		1
Total		8		5
Total Assets		$	79	$	29
Liabilities:
Derivatives designated as hedging instruments:
Non-U.S. currency contracts^(A)	Accounts payable and accrued expenses	$	27	$	17
Non-U.S. currency contracts	Other noncurrent liabilities, net	—		1
Total		27		18
Derivatives not designated as hedging instruments:
Non-U.S. currency contracts	Accounts payable and accrued expenses	—		7
Total Liabilities		$	27	$	25

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^(A)	Amounts include the gross interest receivable or payable on our cross currency swap agreements.

Summary of the Effect of Derivative Financial Instruments Designated as Fair Value Hedges on Condensed Consolidated Statements of Operations

The following table summarizes the effect of our derivative financial instruments designated as fair value hedges on our Condensed Consolidated Statements of Operations for the periods presented (in millions):



		Third Quarter					First Nine Months
Fair Value Hedging Instruments^(A)	Location - Statements of Operations	2011		2010			2011		2010
Interest rate swap agreements	Interest expense, net – third party	$	—	$	(3	)	$	—	$	(10	)
Fixed-rate debt	Interest expense, net – third party	—		3			—		10

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^(A)	The amount of ineffectiveness associated with these hedging instruments was not material.

Summary of the effects of derivative financial instruments designated as cash flow hedges on condensed consolidated statements of operations, net of tax [Table Text Block]

The following tables summarize the net of tax effect of our derivative financial instruments designated as cash flow hedges on our AOCI and Condensed Consolidated Statements of Operations for the periods presented (in millions):



	Amount of Gain (Loss) Recognized in AOCI on Derivative Instruments^(A)
	Third Quarter				First Nine Months
Cash Flow Hedging Instruments	2011		2010		2011		2010
Non-U.S. currency contracts	$	38	$	2	$	21	$	(21	)



		Amount of Gain (Loss) Reclassified from AOCI into Earnings^(B)
		Third Quarter					First Nine Months
Cash Flow Hedging Instruments	Location - Statements of Operations	2011		2010			2011		2010
Non-U.S. currency contracts	Cost of sales	$	1	$	(2	)	$	2	$	(4	)
Non-U.S. currency contracts^(C)	Other nonoperating income (expense), net	51		(6		)	9		(16		)
Total		$	52	$	(8	)	$	11	$	(20	)

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^(A)	The amount of ineffectiveness associated with these hedging instruments was not material.


^(B)	Over the next 12 months, deferred gains totaling $2 million are expected to be reclassified from AOCI on our Condensed Consolidated Balance Sheets into the expense line item on our Condensed Consolidated Statements of Operations that is consistent with the nature of the underlying hedged item as the forecasted transactions occur.


^(C)	The gain (loss) recognized on these currency contracts is offset by the gain (loss) recognized on the remeasurement of the underlying debt instruments; therefore, there is a minimal consolidated net effect in other nonoperating expense, net on our Condensed Consolidated Statements of Operations.

Summary of Outstanding Economic Hedges

The following table summarizes our outstanding economic hedges as of the dates presented:



	September 30, 2011		December 31, 2010
Type	Notional Amount	Latest Maturity	Notional Amount	Latest Maturity
Non-U.S. currency hedges	USD 285 million	December 2011	USD 371 million	February 2011
Commodity hedges	USD 59 million	December 2012	USD 35 million	October 2012

Summary of the Effects of Derivative Financial Instruments not Designated in Specified Hedging Arrangements on the Condensed Consolidated Statements of Operations

The following table summarizes the gains (losses) recognized from our non-designated derivative financial instruments on our Condensed Consolidated Statements of Operations for the periods presented (in millions):



	Third Quarter					First Nine Months
Location - Statements of Operations	2011			2010		2011			2010
Cost of sales	$	(2	)	$	3	$	(1	)	$	—
Selling, delivery, and administrative expenses	—			2		4			1
Other nonoperating expense, net^(A)	36			—		20			—
Total	$	34		$	5	$	23		$	1

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^(A)	The gain recognized on these currency contracts is offset by the loss recognized on the remeasurement of the underlying hedged items; therefore, there is a minimal consolidated net effect in other nonoperating expense, net on our Condensed Consolidated Statements of Operations.

Summary of deferred gain (loss) activity in our Corporate segment [Table Text Block]

The following table summarizes the deferred gain (loss) activity in our Corporate segment during the first nine months of 2011 (in millions):



Gains (Losses) Deferred at Corporate Segment	Cost of Sales			SD&A			Total
Balance at December 31, 2010	$	1		$	1		$	2
Gains recognized during the period and recorded in the Corporate segment, net	—			3			3
Less: Gains transferred to the Europe operating segment, net	(1		)	(4		)	(5		)
Balance at September 30, 2011	$	—		$	—		$	—

Cash Flow Hedging [Member]

Derivatives, Fair Value [Line Items]

Summary of Outstanding Hedges

The following table summarizes our outstanding cash flow hedges as of the dates presented (all contracts denominated in a non-U.S. currency have been converted into USD using the period end spot rate):



	September 30, 2011		December 31, 2010
Type	Notional Amount	Latest Maturity	Notional Amount	Latest Maturity
Non-U.S. currency hedges	USD 1.6 billion	June 2021	USD 1.3 billion	June 2021

Net Investment Hedging [Member]

Derivatives, Fair Value [Line Items]

Summary of Outstanding Hedges

The following table summarizes our outstanding instruments designated as net investment hedges as of the dates presented:



	September 30, 2011		December 31, 2010
Type	Notional Amount	Maturity Date	Notional Amount	Maturity Date
Non-U.S. currency hedges	USD 400 million	December 2011	n/a	n/a