Financial Instruments (Tables)

12 Months Ended

Dec. 31, 2019

Investments, All Other Investments [Abstract]

Notional Amounts of Derivatives

Notional Amounts (In millions)	December 31, 2019		December 31, 2018
Derivatives designated as hedging instruments:
Commodity contracts	$	570	$	525
Derivatives not designated as hedging instruments:
Foreign currency contracts	$	582	$	2,057
Commodity contracts	$	—	$	9

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

	Successor									Predecessor
(In millions)	For the Year Ended December 31, 2019			For the Year Ended December 31, 2018			For the Period September 1 through December 31, 2017			For the Period January 1 through August 31, 2017
Beginning balance	$	(26	)	$	(2	)	$	—		$	7
Additions and revaluations of derivatives designated as cash flow hedges	16			(19		)	(2		)	3
Clearance of hedge results to earnings	12			(5		)	—			(13		)
Ending balance	$	2		$	(26	)	$	(2	)	$	(3	)

Fair Value of Derivatives Instruments

		December 31, 2019
(In millions)	Balance Sheet Location	Gross		Counterparty and Cash Collateral Netting1			Net Amounts Included in the Consolidated Balance Sheet
Asset derivatives:
Derivatives not designated as hedging instruments:
Foreign currency contracts	Other current assets	$	25	$	(18	)	$	7
Total asset derivatives		$	25	$	(18	)	$	7
Liability derivatives:
Derivatives not designated as hedging instruments:
Foreign currency contracts	Accrued and other current liabilities	$	43	$	(16	)	$	27
Total liability derivatives		$	43	$	(16	)	$	27

^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, 2018
(In millions)	Balance Sheet Location	Gross		Counterparty and Cash Collateral Netting1			Net Amounts Included in the Consolidated Balance Sheet
Asset derivatives:
Derivatives not designated as hedging instruments:
Foreign currency contracts	Other current assets	$	72	$	(35	)	$	37
Total asset derivatives		$	72	$	(35	)	$	37
Liability derivatives:
Derivatives not designated as hedging instruments:
Foreign currency contracts	Accrued and other current liabilities	$	21	$	(15	)	$	6
Total liability derivatives		$	21	$	(15	)	$	6

^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 Gain (Loss) Recognized in OCI1 - Pre-Tax
	Successor							Predecessor
(In millions)	For the Year Ended December 31, 2019		For the Year Ended December 31, 2018			For the Period September 1 through December 31, 2017		For the Period January 1 through August 31, 2017
Cash flow hedges:
Commodity contracts	$	23	$	(24	)	$	3	$	5
Total derivatives designated as hedging instruments	$	23	$	(24	)	$	3	$	5

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

	Amount of (Loss) Gain Recognized in Income - Pre-Tax1
	Successor							Predecessor
(In millions)	For the Year Ended December 31, 2019			For the Year Ended December 31, 2018		For the Period September 1 through December 31, 2017		For the Period January 1 through August 31, 2017
Derivatives designated as hedging instruments:
Cash flow hedges:
Commodity contracts2	$	(13	)	$	6	$	—	$	21
Total derivatives designated as hedging instruments	(13		)	6		—		21
Derivatives not designated as hedging instruments:
Foreign currency contracts3	(58		)	94		91		(431		)
Commodity contracts2	9			5		—		2
Total derivatives not designated as hedging instruments	(49		)	99		91		(429		)
Total derivatives	$	(62	)	$	105	$	91	$	(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 other 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 9 - Supplementary Information, for additional information.