Financial Instruments (Tables)

9 Months Ended

Sep. 30, 2018

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Notional Amounts of Derivatives

Notional Amounts (In millions)	September 30, 2018		December 31, 2017
Derivatives designated as hedging instruments:
Commodity contracts	$	125	$	587
Derivatives not designated as hedging instruments:
Foreign currency contracts	$	3,159	$	3,922
Commodity contracts	$	12	$	6

After-Tax Effect of Cash Flow Hedges Included in Accumulated Other Comprehensive Income (Loss)

	Successor					Predecessor
(In millions)	Three Months Ended September 30, 2018			For the Period September 1 - September 30, 2017		For the Period July 1 - August 31, 2017
Beginning balance	$	(7	)	$	—	$	(4	)
Additions and revaluations of derivatives designated as cash flow hedges	(3		)	—		1
Ending balance	$	(10	)	$	—	$	(3	)

	Successor					Predecessor
(In millions)	Nine Months Ended September 30, 2018			For the Period September 1 - September 30, 2017		For the Period January 1 - August 31, 2017
Beginning balance	$	(2	)	$	—	$	7
Additions and revaluations of derivatives designated as cash flow hedges	(3		)	—		3
Clearance of hedge results to earnings	(5		)	—		(13		)
Ending balance	$	(10	)	$	—	$	(3	)

Fair Value of Derivatives Instruments

		September 30, 2018
(In millions)	Balance Sheet Location	Gross		Counterparty and Cash Collateral Netting1			Net Amounts Included in the Condensed Consolidated Balance Sheet
Asset derivatives:
Derivatives not designated as hedging instruments:
Foreign currency contracts	Other current assets	$	55	$	(39	)	$	16
Total asset derivatives		$	55	$	(39	)	$	16
Liability derivatives:
Derivatives not designated as hedging instruments:
Foreign currency contracts	Accrued and other current liabilities	$	54	$	(18	)	$	36
Total liability derivatives		$	54	$	(18	)	$	36

^1.  Counterparty and cash collateral amounts represent the estimated net settlement amount when applying netting and set-off rights included in master netting arrangements between the company and its counterparties and the payable or receivable for cash collateral held or placed with the same counterparty.

		December 31, 2017
(In millions)	Balance Sheet Location	Gross		Counterparty and Cash Collateral Netting1			Net Amounts Included in the Condensed Consolidated Balance Sheet
Asset derivatives:
Derivatives not designated as hedging instruments:
Foreign currency contracts	Other current assets	$	46	$	(37	)	$	9
Total asset derivatives		$	46	$	(37	)	$	9
Liability derivatives:
Derivatives not designated as hedging instruments:
Foreign currency contracts	Accrued and other current liabilities	$	79	$	(32	)	$	47
Total liability derivatives		$	79	$	(32	)	$	47

^1.  Counterparty and cash collateral amounts represent the estimated net settlement amount when applying netting and set-off rights included in master netting arrangements between the company and its counterparties and the payable or receivable for cash collateral held or placed with the same counterparty.

Effect of Derivative Instruments

	Amount of (Loss) Gain Recognized in OCI1 - Pre-Tax
	Successor					Predecessor
(In millions)	Three Months Ended September 30, 2018			For the Period September 1 - September 30, 2017		For the Period July 1 - August 31, 2017
Derivatives designated as hedging instruments:
Cash flow hedges:
Commodity contracts	$	(5	)	$	—	$	1
Total derivatives designated as hedging instruments	(5		)	—		1
Total derivatives	$	(5	)	$	—	$	1

^1.  OCI is defined as other comprehensive income (loss).

	Amount of (Loss) Gain Recognized in OCI1 - Pre-Tax
	Successor					Predecessor
(In millions)	Nine Months Ended September 30, 2018			For the Period September 1 - September 30, 2017		For the Period January 1 - August 31, 2017
Derivatives designated as hedging instruments:
Cash flow hedges:
Commodity contracts	$	(4	)	$	—	$	5
Total derivatives designated as hedging instruments	(4		)	—		5
Total derivatives	$	(4	)	$	—	$	5

^1.  OCI is defined as other comprehensive income (loss).

	Amount of Gain (Loss) Recognized in Income - Pre-Tax1
	Successor					Predecessor
(In millions)	Three Months Ended September 30, 2018			For the Period September 1 - September 30, 2017		For the Period July 1 - August 31, 2017
Derivatives designated as hedging instruments:
Cash flow hedges:
Commodity contracts2	$	(1	)	$	—	$	—
Total derivatives designated as hedging instruments	(1		)	—		—
Derivatives not designated as hedging instruments:
Foreign currency contracts3	31			112		(260		)
Commodity contracts2	—			—		2
Total derivatives not designated as hedging instruments	31			112		(258		)
Total derivatives	$	30		$	112	$	(258	)

^1.  For cash flow hedges, this represents the portion of the gain (loss) reclassified from accumulated OCI into income during the period.

^2.  Recorded in cost of goods sold.

^3.  Gain recognized in sundry income (expense) - net was partially offset by the related gain on the foreign currency-denominated monetary assets and liabilities of the company's operations. See Note 8 for additional information.

	Amount of Gain (Loss) Recognized in Income - Pre-Tax1
	Successor				Predecessor
(In millions)	Nine Months Ended September 30, 2018		For the Period September 1 - September 30, 2017		For the Period January 1 - August 31, 2017
Derivatives designated as hedging instruments:
Cash flow hedges:
Commodity contracts2	$	6	$	—	$	21
Total derivatives designated as hedging instruments	6		—		21
Derivatives not designated as hedging instruments:
Foreign currency contracts3	27		112		(431		)
Commodity contracts2	5		—		2
Total derivatives not designated as hedging instruments	32		112		(429		)
Total derivatives	$	38	$	112	$	(408	)

^1.  For cash flow hedges, this represents the portion of the gain (loss) reclassified from accumulated OCI into income during the period.

^2.  Recorded in cost of goods sold.

^3.  Gain recognized in sundry income (expense) - net was partially offset by the related gain on the foreign currency-denominated monetary assets and liabilities of the company's operations. See Note 8 for additional information.