Financial Instruments (Tables)

3 Months Ended

Mar. 31, 2018

Financial Instruments [Abstract]

Schedule of Long-term Debt Instruments

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

	March 31,			December 31,
(MILLIONS OF DOLLARS)	2018			2017
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
3.000% 2017 senior notes due 2027	750			750
4.700% 2013 senior notes due 2043	1,150			1,150
3.950% 2017 senior notes due 2047	500			500
	5,000			5,000
Unamortized debt discount / debt issuance costs	(46		)	(47		)
Long-term debt, net of discount and issuance costs	$	4,954		$	4,953

Schedule of Maturities of Long-term Debt

The principal amount of long-term debt outstanding, as of March 31, 2018, matures in the following years:

									After
(MILLIONS OF DOLLARS)	2019		2020		2021		2022		2022		Total
Maturities	$	—	$	500	$	—	$	—	$	4,500	$	5,000

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
		March 31,			December 31,
(MILLIONS OF DOLLARS)	Balance Sheet Location	2018			2017
Derivatives Not Designated as Hedging Instruments
Foreign currency forward-exchange contracts	Other current assets	$	11		$	10
Foreign currency forward-exchange contracts	Other current liabilities	(11		)	(9		)
Total derivatives not designated as hedging instruments		$	—		$	1

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

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

	Three Months Ended
	March 31,		April 2,
(MILLIONS OF DOLLARS)	2018		2017
Foreign currency forward-exchange contracts	$	10	$	29

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

amounts of unrecognized net gains/(losses) on derivative instruments designated as cash flow hedges, recorded, net of tax, in Other comprehensive income/(loss) were insignificant for both of the three months ended March 31, 2018 and April 2, 2017.