Fair Value Measurements and Financial Instruments (Tables)

6 Months Ended

Jun. 30, 2013

Notes to Financial Statements [Abstract]

Schedule of derivative instruments

The following summarizes the fair value of the Company’s derivative instruments and other financial instruments at June 30, 2013 and December 31, 2012:

	Assets					Liabilities
	Account	Fair Value				Account	Fair Value
Designated derivative instruments		6/30/13		12/31/12			6/30/13		12/31/12
Interest rate swap contracts	Other current assets	$	2	$	3	Other accruals	$	—	$	—
Interest rate swap contracts	Other assets	19		41		Other liabilities	—		—
Foreign currency contracts	Other current assets	16		7		Other accruals	9		10
Foreign currency contracts	Other assets	22		13		Other liabilities	—		—
Commodity contracts	Other current assets	—		1		Other accruals	—		—
Total designated		$	59	$	65		$	9	$	10
Derivatives not designated
Foreign currency contracts	Other current assets	$	5	$	—	Other accruals	$	—	$	1
Total not designated		$	5	$	—		$	—	$	1
Total derivative instruments		$	64	$	65		$	9	$	11
Other financial instruments
Marketable securities	Other current assets	$	174	$	116
Available-for-sale securities	Other assets	587		618
Total other financial instruments		$	761	$	734

Activity related to fair value hedges

Activity related to fair value hedges recorded during the three-month and six-month periods ended June 30, 2013 and 2012 was as follows:

	2013									2012
	Foreign Currency Contracts			Interest Rate Swaps			Total			Foreign Currency Contracts			Interest Rate Swaps			Total
Notional Value at June 30,	$	1,250		$	1,088		$	2,338		$	740		$	1,338		$	2,078
Three months ended June 30:
Gain (loss) on derivative	—			(13		)	(13		)	9			9			18
Gain (loss) on hedged items	—			13			13			(9		)	(9		)	(18		)
Six months ended June 30:
Gain (loss) on derivative	12			(20		)	(8		)	10			7			17
Gain (loss) on hedged items	(12		)	20			8			(10		)	(7		)	(17		)

Activity related to cash flow hedges

Activity related to cash flow hedges recorded during the three-month and six-month periods ended June 30, 2013 and 2012 was as follows:

	2013						2012
	Foreign Currency Contracts		Commodity Contracts		Total		Foreign Currency Contracts			Commodity Contracts		Total
Notional Value at June 30,	$	420	$	12	$	432	$	349		$	29	$	378
Three months ended June 30:
Gain (loss) recognized in OCI	3		1		4		(3		)	3		—
Gain (loss) reclassified into Cost of sales	1		—		1		—			1		1
Six months ended June 30:
Gain (loss) recognized in OCI	11		—		11		3			5		8
Gain (loss) reclassified into Cost of sales	4		1		5		1			—		1

Activity related to net investment hedges

Activity related to net investment hedges recorded during the three-month and six-month periods ended June 30, 2013 and 2012 was as follows:

	2013									2012
	Foreign Currency Contracts			Foreign Currency Debt			Total			Foreign Currency Contracts			Foreign Currency Debt			Total
Notional Value at June 30,	$	538		$	379		$	917		$	563		$	409		$	972
Three months ended June 30:
Gain (loss) on instruments	(4		)	(4		)	(8		)	27			10			37
Gain (loss) on hedged items	4			4			8			(27		)	(10		)	(37		)
Six months ended June 30:
Gain (loss) on instruments	10			9			19			8			4			12
Gain (loss) on hedged items	(9		)	(9		)	(18		)	(13		)	(4		)	(17		)

Activity related to derivatives not designated as hedging instruments

Activity related to these contracts during the three-month and six-month periods ended June 30, 2013 and 2012 was as follows:

	2013			2012
	Cross-currency Swap			Cross-currency Swap
Notional Value at June 30,	$	96		$	96
Three months ended June 30:
Gain (loss) on instrument	—			2
Gain (loss) on hedged item	—			(2		)
Six months ended June 30:
Gain (loss) on instrument	6			(1		)
Gain (loss) on hedged item	(6		)	1

Reconciliation of the Venezuelan investments at fair value

The following table presents a reconciliation of the fair value of the Venezuelan bonds for the six months endedJune 30, 2013 and 2012:

	2013			2012
Beginning balance as of January 1,	$	642		$	236
Unrealized gain (loss) on investment	(128		)	22
Purchases and sales during the period	97			134
Ending balance as of June 30,	$	611		$	392