Derivatives and Hedging (Tables)

12 Months Ended

Dec. 31, 2016

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Notional and fair values of derivative instruments

The notional and fair values of derivative instruments are as follows (in millions):

	Notional Amount				Derivative Assets (1)				Derivative Liabilities (2)
As of December 31	2016		2015		2016		2015		2016		2015
Foreign exchange contracts:
Accounted for as hedges	$	758	$	778	$	14	$	32	$	13	$	18
Not accounted for as hedges (3)	189		280		1		—		1		—
Total	$	947	$	1,058	$	15	$	32	$	14	$	18

(1) Included within Other current assets ($6 million in 2016 and $15 million in 2015, respectively) or Other non-current assets ($9 million in 2016 and $17 million in 2015, respectively)

(2) Included within Other current liabilities ($7 million in 2016 and $13 million in 2015, respectively) or Other non-current liabilities ($7 million in 2016 and $5 million in 2015, respectively)

(3) These contracts typically are for 30 day durations and executed close to the last day of the most recent reporting month, thereby resulting in nominal fair values at the balance sheet date.

Offsetting of financial assets and derivatives assets are as follows (in millions):

	Gross Amounts of Recognized Assets				Gross Amounts Offset in the Statement of Financial Position						Net Amounts of Assets Presented in the Statement of Financial Position (1)
Derivatives accounted for as hedges:	2016		2015		2016			2015			2016		2015
Foreign exchange contracts	$	14	$	32	$	(1	)	$	(13	)	$	13	$	19

(1) Included within Other current assets ($4 million in 2016 and $6 million in 2015, respectively) or Other non-current assets ($9 million in 2016 and $13 million in 2015, respectively)

Offsetting of financial liabilities and derivative liabilities are as follows (in millions):

	Gross Amounts of Recognized Liabilities				Gross Amounts Offset in the Statement of Financial Position						Net Amounts of Liabilities Presented in the Statement of Financial Position (1)
Derivatives accounted for as hedges:	2016		2015		2016			2015			2016		2015
Foreign exchange contracts	$	13	$	18	$	(1	)	$	(13	)	$	12	$	5

(1) Included within Other current liabilities ($5 million in 2016 and $4 million in 2015, respectively) or Other non-current liabilities ($7 million in 2016 and $1 million in 2015, respectively)

Derivative gains (losses)

The amounts of derivative gains (losses) recognized in the Consolidated Financial Statements are as follows (in millions):

Cash Flow Hedge - Foreign Exchange Contracts	Location of future reclassification from Accumulated Other Comprehensive Loss										Gain (Loss) Recognized in Accumulated Other Comprehensive Loss:
	Compensation and Benefits		Other General Expenses			Interest Expense		Other Income (Expense)			Total
2016	$	8	$	(13	)	$	—	$	(20	)	$	(25	)
2015	4		(3		)	—		(10		)	(9		)
2014	11		(3		)	—		(10		)	(2		)

Cash Flow Hedge - Foreign Exchange Contracts													Gain (Loss) Reclassified from Accumulated Other Comprehensive Loss into Income (Effective Portion):
	Compensation and Benefits			Other General Expenses			Interest Expense			Other Income			Total
2016	$	2		$	(4	)	$	(1	)	$	(7	)	$	(10	)
2015	4			(1		)	(9		)	(11		)	(17		)
2014	(5		)	3			(10		)	(2		)	(14		)