Financial Instruments (Tables)

9 Months Ended

Oct. 02, 2016

Financial Instruments [Abstract]

Schedule of Long-term Debt Instruments

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

	October 2,			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
5.100% bank loan due 2021	1			—
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
	4,501			4,900
Unamortized debt discount / debt issuance costs	(34		)	(37		)
Less current portion of long-term debt	—			(400		)
Long-term debt	$	4,467		$	4,463

Schedule of Maturities of Long-term Debt

The principal amount of long-term debt outstanding, as of October 2, 2016, matures in the following years:

									After
(MILLIONS OF DOLLARS)	2017		2018		2019		2020		2020		Total
Maturities	$	—	$	750	$	—	$	500	$	3,251	$	4,501

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
		October 2,			December 31,
(MILLIONS OF DOLLARS)	Balance Sheet Location	2016			2015
Derivatives Not Designated as Hedging Instruments
Foreign currency forward-exchange contracts	Other current assets	$	4		$	8
Foreign currency forward-exchange contracts	Other current liabilities	(18		)	(10		)
Total derivatives not designated as hedging instruments		(14		)	(2		)
Derivatives Designated as Hedging Instruments:
Interest rate swap contracts	Other current liabilities	(4		)	—
Total derivatives designated as hedging instruments		(4		)	—
Total derivatives		$	(18	)	$	(2	)

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

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

	Three Months Ended					Nine Months Ended
	October 2,			September 27,		October 2,			September 27,
(MILLIONS OF DOLLARS)	2016			2015		2016			2015
Foreign currency forward-exchange contracts	$	(25	)	$	18	$	(29	)	$	24

Schedule of Cash Flow Hedges Included in Accumulated Other Comprehensive Income (Loss)

The amounts of net gains/(losses) on derivative instruments designated as cash flow hedges, recorded, net of tax, in Accumulated other comprehensive loss, are as follows:

	Three Months Ended					Nine Months Ended
	October 2,		September 27,			October 2,			September 27,
(MILLIONS OF DOLLARS)	2016		2015			2016			2015
Interest rate swap contracts	$	1	$	(3	)	$	(2	)	$	(3	)