DERIVATIVE FINANCIAL INSTRUMENTS AND HEDGING ACTIVITIES (Tables)

9 Months Ended

Sep. 30, 2016

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Derivative Financial Instruments Recognized in Condensed Consolidated Balance Sheet

The fair value of derivative financial instruments recognized in the Condensed Consolidated Balance Sheets follows:

	Notional amount		Other  current assets		Other noncurrent assets		Other current liabilities		Other noncurrent liabilities		Type of hedge	Term
September 30, 2016
Derivatives designated as hedges
Fixed-to-floating interest rate  swaps	$	3,765	$	—	$	172	$	—	$	—	Fair value	1 month to 19 years
Forward starting floating-to-fixed  interest rate swaps	450		—		—		—		18		Cash flow	12 years
Currency exchange contracts	826		5		1		19		14		Cash flow	1 to 36 months
Total			$	5	$	173	$	19	$	32
Derivatives not designated as  hedges
Currency exchange contracts	$	3,991	$	34	$	—	$	15	$	—		1 to 24 months
Commodity contracts	41		2				—					1 to 12 months
Total			$	36	$	—	$	15	$	—
December 31, 2015
Derivatives designated as hedges
Fixed-to-floating interest rate  swaps	$	3,715	$	—	$	96	$	—	$	2	Fair value	2 to 19 years
Forward starting floating-to-fixed  interest rate swaps	50		—		—		—		—		Cash flow	12 years
Currency exchange contracts	724		18		1		8		6		Cash flow	1 to 36 months
Commodity contracts	1		—		—		—		—		Cash flow	1 to 12 months
Total			$	18	$	97	$	8	$	8
Derivatives not designated as  hedges
Currency exchange contracts	$	4,198	$	27			$	40				1 to 12 months
Total			$	27			$	40

Amounts Recognized in Accumulated Other Comprehensive Loss

:

	Gain (loss) recognized in other comprehensive (loss) income					Location of gain (loss) reclassified from Accumulated other comprehensive loss	Gain (loss) reclassified from Accumulated other comprehensive loss
	Three months ended September 30						Three months ended September 30
	2016			2015			2016			2015
Derivatives designated as    cash flow hedges
Forward starting floating-to-fixed  interest rate swaps	$	1		$	—	Interest expense - net	$	—		$	—
Currency exchange contracts	(3		)	6		Cost of products sold	(4		)	5
Total	$	(2	)	$	6		$	(4	)	$	5

	Gain (loss) recognized in other comprehensive (loss) income					Location of gain (loss) reclassified from Accumulated other comprehensive loss	Gain (loss) reclassified from Accumulated other comprehensive loss
	Nine months ended September 30						Nine months ended September 30
	2016			2015			2016			2015
Derivatives designated as cash    flow hedges
Forward starting floating-to-fixed  interest rate swaps	$	(18	)	$	—	Interest expense - net	$	—		$	—
Currency exchange contracts	(35		)	16		Cost of products sold	(3		)	11
Total	$	(53	)	$	16		$	(3	)	$	11

Amounts recognized in Net Income

Amounts recognized in net income follow:

	Three months ended September 30						Nine months ended September 30
	2016			2015			2016			2015
Derivatives designated as fair value hedges
Fixed-to-floating interest rate swaps	$	(28	)	$	65		$	78		$	62
Related long-term debt converted to floating interest    rates by interest rate swaps	28			(65		)	(78		)	(62		)
	$	—		$	—		$	—		$	—