Fair Value Measurements and Financial Instruments (Tables)

12 Months Ended

Dec. 31, 2017

Financial Instruments and Fair Value Measurements [Abstract]

The following table summarizes the fair value of the Company’s derivative instruments and other financial instruments at December 31, 2017 and December 31, 2016:



	Assets					Liabilities
	Account	Fair Value				Account	Fair Value
Designated derivative instruments		12/31/17		12/31/16			12/31/17		12/31/16
Interest rate swap contracts	Other current assets	$	—	$	1	Other accruals	$	—	$	—
Interest rate swap contracts	Other assets	—		1		Other liabilities	7		—
Foreign currency contracts	Other current assets	25		29		Other accruals	20		4
Foreign currency contracts	Other assets	—		5		Other liabilities	46		—
Commodity contracts	Other current assets	—		—		Other accruals	—		—
Total designated		$	25	$	36		$	73	$	4

Derivatives not designated
Foreign currency contracts	Other assets	—		—		Other liabilities	—		—
Total not designated		$	—	$	—		$	—	$	—

Total derivative instruments		$	25	$	36		$	73	$	4

Other financial instruments
Marketable securities	Other current assets	$	14	$	23
Total other financial instruments		$	14	$	23

Activity related to fair value hedges

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



	2017									2016
	Foreign Currency Contracts			Interest Rate Swaps			Total			Foreign Currency Contracts			Interest Rate Swaps			Total
Notional Value at December 31,	$	1,231		$	1,000		$	2,231		$	204		$	1,250		$	1,454
Gain (loss) on derivatives	(7		)	(9		)	(16		)	5			(5		)	—
Gain (loss) on hedged items	7			9			16			(5		)	5			—

Activity related to cash flow hedges

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



	2017								2016
	Foreign Currency Contracts			Commodity Contracts		Total			Foreign Currency Contracts		Commodity Contracts			Total
Notional Value at December 31,	$	702		$	—	$	702		$	643	$	7		$	650
Gain (loss) recognized in OCI	(25		)	—		(25		)	12		(1		)	11
Gain (loss) reclassified into Cost of sales	(3		)	—		(3		)	4		—			4

Activity related to net investment hedges recorded during each period presented was as follows:



	2017									2016
	Foreign Currency Contracts			Foreign Currency Debt			Total			Foreign Currency Contracts			Foreign Currency Debt			Total
Notional Value at December 31,	$	478		$	601		$	1,079		$	498		$	1,118		$	1,616
Gain (loss) on instruments	(71		)	(112		)	(183		)	22			35			57
Gain (loss) on hedged items	71			112			183			(25		)	(35		)	(60		)

Activity related to these contracts during each period presented was as follows:



	2017		2016
	Foreign Currency Contracts		Foreign Currency Contracts
Notional Value at December 31,	$	3	$	4
Gain (loss) on instruments	—		5
Gain (loss) on hedged items	—		(5		)