Financial Instruments (Tables)

3 Months Ended

Apr. 03, 2016

Financial Instruments [Abstract]

Schedule of Long-term Debt Instruments

The components of our long-term debt are as follows:

	April 3,			December 31,
(MILLIONS OF DOLLARS)	2016			2015
1.150% 2013 senior notes due 2016	$	—		$	400
1.875% 2013 senior notes due 2018	750			750
3.450% 2015 senior notes due 2020	500			500
3.250% 2013 senior notes due 2023	1,350			1,350
4.500% 2015 senior notes due 2025	750			750
4.700% 2013 senior notes due 2043	1,150			1,150
	4,500			4,900
Unamortized debt discount / debt issuance costs	(36		)	(37		)
Less current portion of long-term debt	—			(400		)
Long-term debt	$	4,464		$	4,463

Schedule of Maturities of Long-term Debt

The principal amount of long-term debt outstanding, as of April 3, 2016, matures in the following years:

											After
(MILLIONS OF DOLLARS)	2017		2018		2019		2020		2021		2021		Total
Maturities	$	—	$	750	$	—	$	500	$	—	$	3,250	$	4,500

Schedule of Derivative Instruments in Statement of Financial Position, Fair Value

The classification and fair values of derivative instruments are as follows:

		Fair Value of Derivatives
		April 3,			December 31,
(MILLIONS OF DOLLARS)	Balance Sheet Location	2016			2015
Derivatives Not Designated as Hedging Instruments
Foreign currency forward-exchange contracts	Other current assets	$	7		$	8
Foreign currency forward-exchange contracts	Other current liabilities	(12		)	(10		)
Total derivatives not designated as hedging instruments		$	(5	)	$	(2	)

Schedule of Other Derivatives Not Designated as Hedging Instruments, Statements of Financial Performance and Financial Position, Location

The amounts of gains on derivative instruments not designated as hedging instruments, recorded in Other (income)/deductions, are as follows:

	Three Months Ended
	April 3,		March 29,
(MILLIONS OF DOLLARS)	2016		2015
Foreign currency forward-exchange contracts	$	1	$	7