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Derivative Financial Instruments (Tables)
3 Months Ended
Mar. 31, 2012
Derivative Financial Instruments [Abstract]  
Fair Value of Derivative Instruments

Fair Value of Derivative Instruments

(in millions)

 

                         
    March 31,
2012
    December 31,
2011
 
    Balance Sheet
Location
  Fair
Value
    Balance Sheet
Location
  Fair
Value
 

Derivatives designated as hedging instruments

                       

Asset Derivatives

                       

Forward contracts

  Prepaid and other
current assets
  $ 2     Prepaid and other
current assets
  $ 3  

Interest rate swaps

  Prepaid and other
current assets
    4     Prepaid and other
current assets
    —    
    Other assets     7     Other assets     12  
       

 

 

       

 

 

 

Total assets

      $ 13         $ 15  
       

 

 

       

 

 

 

 

                         
    March 31,
2012
    December 31,
2011
 
    Balance Sheet
Location
  Fair
Value
    Balance Sheet
Location
  Fair
Value
 

Derivatives not designated as hedging instruments

                       

Asset Derivatives

                       

Forward contracts

  Prepaid and other
current assets
  $ 4     Prepaid and other
current assets
  $ —    
       

 

 

       

 

 

 

Total assets

      $ 4         $ —    
       

 

 

       

 

 

 

Liability Derivatives

                       

Forward contracts

  Accrued expenses   $ —       Accrued expenses   $ —    
       

 

 

       

 

 

 

Total liabilities

      $ —           $ —    
       

 

 

       

 

 

 
Derivative instruments gain (loss) recognized in Other Comprehensive Income
         

Balance at December 31, 2011

  $ (3

Mark-to-market loss (gain) on forward exchange contracts

    1  

Reclassification of gain (loss) from OCI to management fees, franchise fees, and other income

    —    
   

 

 

 

Balance at March 31, 2012

  $ (2
   

 

 

 

Balance at December 31, 2010

  $ —    

Mark-to-market (gain) loss on forward exchange contracts

    2  

Reclassification of gain (loss) from OCI to management fees, franchise fees, and other income

    —    
   

 

 

 

Balance at March 31, 2011

  $ 2  
   

 

 

 
Derivative instruments gain (loss) recognized in Income
                     

Derivatives Not

Designated as Hedging

Instruments

 

Location of Gain

or (Loss) Recognized

in Income on Derivative

 

Amount of Gain

or (Loss) Recognized

in Income on Derivative

 
        Three Months Ended
March 31,
 
        2012     2011  

Foreign forward exchange contracts

  Interest expense, net   $ (1   $ —    
       

 

 

   

 

 

 

Total loss included in income

      $ (1   $ —