Fair Value Measurements and Financial Instruments (Tables)

9 Months Ended

Sep. 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 September 30, 2013 and December 31, 2012:

	Assets					Liabilities
	Account	Fair Value				Account	Fair Value
Designated derivative instruments		9/30/13		12/31/12			9/30/13		12/31/12
Interest rate swap contracts	Other current assets	$	1	$	3	Other accruals	$	—	$	—
Interest rate swap contracts	Other assets	22		41		Other liabilities	—		—
Foreign currency contracts	Other current assets	9		7		Other accruals	10		10
Foreign currency contracts	Other assets	3		13		Other liabilities	1		—
Commodity contracts	Other current assets	—		1		Other accruals	—		—
Total designated		$	35	$	65		$	11	$	10
Derivatives not designated
Foreign currency contracts	Other current assets	$	—	$	—	Other accruals	$	1	$	1
Total not designated		$	—	$	—		$	1	$	1
Total derivative instruments		$	35	$	65		$	12	$	11
Other financial instruments
Marketable securities	Other current assets	$	146	$	116
Available-for-sale securities	Other assets	676		618
Total other financial instruments		$	822	$	734

Activity related to fair value hedges

Activity related to fair value hedges recorded during the three-month and nine-month periods ended September 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 September 30,	$	1,568		$	1,088		$	2,656		$	944		$	1,338		$	2,282
Three months ended September 30:
Gain (loss) on derivative	(9		)	2			(7		)	(8		)	5			(3		)
Gain (loss) on hedged items	9			(2		)	7			8			(5		)	3
Nine months ended September 30:
Gain (loss) on derivative	3			(18		)	(15		)	2			12			14
Gain (loss) on hedged items	(3		)	18			15			(2		)	(12		)	(14		)

Activity related to cash flow hedges

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

	2013						2012
	Foreign Currency Contracts		Commodity Contracts		Total		Foreign Currency Contracts			Commodity Contracts		Total
Notional Value at September 30,	$	441	$	15	$	456	$	347		$	26	$	373
Three months ended September 30:
Gain (loss) recognized in OCI	2		—		2		(7		)	6		(1		)
Gain (loss) reclassified into Cost of sales	8		—		8		(1		)	4		3
Nine months ended September 30:
Gain (loss) recognized in OCI	13		—		13		(4		)	11		7
Gain (loss) reclassified into Cost of sales	12		1		13		—			4		4

Activity related to net investment hedges

Activity related to net investment hedges recorded during the three-month and nine-month periods ended September 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 September 30,	$	557		$	238		$	795		$	527		$	296		$	823
Three months ended September 30:
Gain (loss) on instruments	(18		)	(9		)	(27		)	(6		)	(2		)	(8		)
Gain (loss) on hedged items	18			9			27			8			2			10
Nine months ended September 30:
Gain (loss) on instruments	(8		)	—			(8		)	2			2			4
Gain (loss) on hedged items	9			—			9			(5		)	(2		)	(7		)

Activity related to derivatives not designated as hedging instruments

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

	2013			2012
	Cross-currency Swap			Cross-currency Swap
Notional Value at September 30,	$	96		$	96
Three months ended September 30:
Gain (loss) on instrument	(6		)	(3		)
Gain (loss) on hedged item	6			3
Nine months ended September 30:
Gain (loss) on instrument	—			(4		)
Gain (loss) on hedged item	—			4

Reconciliation of the Venezuelan investments at fair value

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

	2013			2012
Beginning balance as of January 1,	$	642		$	236
Unrealized gain (loss) on investment	(124		)	14
Purchases and sales during the period	182			373
Ending balance as of September 30,	$	700		$	623