XML 53 R33.htm IDEA: XBRL DOCUMENT v3.6.0.2
Fair Value Measurements and Financial Instruments (Tables)
 12 Months Ended
Dec. 31, 2016
Financial Instruments and Fair Value Measurements [Abstract]  
Schedule of Derivative Instruments
The following table summarizes the fair value of the Company’s derivative instruments and other financial instruments at December 31, 2016 and December 31, 2015:

 
Assets
 
Liabilities
 
Account
 
Fair Value
 
Account
 
Fair Value
Designated derivative instruments
 
 
12/31/16
 
12/31/15
 
 
 
12/31/16
 
12/31/15
Interest rate swap contracts
Other current assets
 
$
1

 
$
—

 
Other accruals
 
$
—

 
$
—

Interest rate swap contracts
Other assets
 
1

 
7

 
Other liabilities
 
—

 
—

Foreign currency contracts
Other current assets
 
29

 
131

 
Other accruals
 
4

 
5

Foreign currency contracts
Other assets
 
5

 
—

 
Other liabilities
 
—

 
—

Commodity contracts
Other current assets
 
—

 
—

 
Other accruals
 
—

 
—

Total designated
 
 
$
36

 
$
138

 
 
 
$
4

 
$
5

 
 
 
 
 
 
 
 
 
 
 
 
Derivatives not designated
 
 
 

 
 

 
 
 
 

 
 

Foreign currency contracts
Other assets
 
—

 
13

 
Other liabilities
 
—

 
—

Total not designated
 
 
$
—

 
$
13

 
 
 
$
—

 
$
—

 
 
 
 
 
 
 
 
 
 
 
 
Total derivative instruments
 
 
$
36

 
$
151

 
 
 
$
4

 
$
5

 
 
 
 
 
 
 
 
 
 
 
 
Other financial instruments
 
 
 

 
 

 
 
 
 

 
 

Marketable securities
Other current assets
 
$
23

 
$
61

 
 
 
 

 
 

Total other financial instruments
 
 
$
23

 
$
61

 
 
 
 

 
 
Activity related to fair value hedges
Activity related to fair value hedges recorded during each period presented was as follows:   

 
2016
 
2015
 
Foreign
Currency
Contracts
 
Interest
Rate
Swaps
 
 
Total
 
Foreign
Currency
Contracts
 
Interest
Rate
Swaps
 
 
Total
Notional Value at December 31,
$
204

 
$
1,250

 
$
1,454

 
$
573

 
$
1,250

 
$
1,823

Gain (loss) on derivatives
5

 
(5
)
 
—

 
(3
)
 
(4
)
 
(7
)
Gain (loss) on hedged items
(5
)
 
5

 
—

 
3

 
4

 
7
Activity related to cash flow hedges
Activity related to cash flow hedges recorded during each period presented was as follows:

 
2016
 
2015
 
Foreign
Currency
Contracts
 
Commodity
Contracts
 
 
Total
 
Foreign
Currency
Contracts
 
Commodity
Contracts
 
 
Total
Notional Value at December 31,
$
643

 
$
7

 
$
650

 
$
745

 
$
9

 
$
754

Gain (loss) recognized in OCI
12

 
(1
)
 
11

 
19

 
(1
)
 
18

Gain (loss) reclassified into Cost of sales
4

 
—

 
4

 
17

 
(1
)
 
16
Activity related to net investment hedges
Activity related to net investment hedges recorded during each period presented was as follows:

 
2016
 
2015
 
Foreign
Currency
Contracts
 
Foreign
Currency
Debt
 
 
Total
 
Foreign
Currency
Contracts
 
Foreign
Currency
Debt
 
 
Total
Notional Value at December 31,
$
498

 
$
1,118

 
$
1,616

 
$
645

 
$
800

 
$
1,445

Gain (loss) on instruments
22

 
35

 
57

 
73

 
48

 
121

Gain (loss) on hedged items
(25
)
 
(35
)
 
(60
)
 
(73
)
 
(48
)
 
(121
)
Activity related to derivatives not designated as hedging instruments
Activity related to these contracts during each period presented was as follows:

 
2016
 
2015
 
Foreign Currency Contracts
 
Foreign Currency Contracts
Notional Value at December 31,
$
4

 
$
102

Gain (loss) on instruments
5

 
11

Gain (loss) on hedged items
(5
)
 
(4
)
Reconciliation of the Venezuelan investments at fair value
The following table presents a reconciliation of the Venezuelan bonds at fair value for the twelve months ended December 31, 2015 and 2014:
 
2015
 
2014
Beginning balance as of January 1
$
399

 
$
685

Unrealized gain (loss) on investment
(17
)
 
(341
)
Purchases and sales during the period
12

 
55

Venezuela deconsolidation
(394
)
 
—

Ending balance as of December 31
$
—

 
$
399