Derivative Instruments and Hedging Activities (Tables)

3 Months Ended

12 Months Ended

Mar. 31, 2017

Dec. 31, 2016

Derivative Instruments and Hedging Activities Disclosure [Abstract]

The fair values of our derivative instruments in our condensed consolidated balance sheets were as follows:


		March 31, 2017		December 31, 2016
	Balance Sheet Classification	March 31, 2017		December 31, 2016
		(in millions)
Cash Flow Hedges:
Interest rate swaps	Other liabilities	$	7		N/A

Non-designated Hedges:
Interest rate swaps	Other liabilities		—	$	12
Forward contracts	Other current assets		1		3
Forward contracts	Accounts payable, accrued expenses and other		1

The fair values of our derivative instruments in our consolidated balance sheets were as follows:

December 31,

Balance Sheet Classification

2016

2015

(in millions)

Cash Flow Hedges:

Interest rate swaps

Other liabilities

N/A

Non-designated Hedges:

Interest rate swaps

Other liabilities

N/A

Forward contracts

Other current assets

Forward contracts

Accounts payable, accrued expenses and other

Earnings Effect of Derivative Instruments

The gains and losses recognized in our condensed consolidated statements of operations and condensed consolidated statements of comprehensive income before any effect for income taxes were as follows:


		Three Months Ended March 31,
		Three Months Ended March 31,
	Classification of Gain (Loss) Recognized	2017			2016
		(in millions)
Cash Flow Hedges:
Interest rate swaps⁽¹⁾	Other comprehensive income	$	(7	)	$	(10	)

Non-designated Hedges:
Interest rate swaps	Other non-operating income, net		2			N/A
Interest rate swaps⁽²⁾	Interest expense		3			N/A
Forward contracts	Loss on foreign currency transactions		1			1

⁽¹⁾	There were no amounts recognized in earnings related to hedge ineffectiveness or amounts excluded from hedge effectiveness testing during the three months ended March 31, 2017 and 2016.

⁽²⁾	This amount is related to the dedesignation of the 2013 Interest Rate Swaps as cash flow hedges and was reclassified from accumulated other comprehensive loss as the underlying transactions occurred.

The gains and losses recognized in our consolidated statements of operations and consolidated statements of comprehensive income before any effect for income taxes were as follows:


	Classification of Gain (Loss) Recognized	Year Ended December 31,
	Classification of Gain (Loss) Recognized	2016			2015			2014
		(in millions)
Cash Flow Hedges:
Interest rate swaps⁽¹⁾	Other comprehensive loss	$	(7	)	$	(11	)	$	(14	)
Non-designated Hedges:
Interest rate swaps	Other non-operating income, net		4			N/A			N/A
Interest rate swaps⁽²⁾	Interest expense		4			N/A			N/A
Forward contracts	Gain (loss) on foreign currency transactions		7			11			1

⁽¹⁾	There were no amounts recognized in earnings related to hedge ineffectiveness or amounts excluded from hedge effectiveness testing during the years ended December 31, 2016, 2015 and 2014.

⁽²⁾	The amount recognized during the year ended December 31, 2016 is related to the dedesignation of these instruments as cash flow hedges and was reclassified from accumulated other comprehensive loss as the underlying transactions occurred.