Financing Arrangements and Derivative Financial Instruments (Tables)

12 Months Ended

Dec. 31, 2017

Financing Arrangements and Derivative Financial Instruments [Abstract]

Long Term Debt and Capital Leases Due Within One Year

The following table presents amounts due within one year:

	December 31,			December 31,
(In millions)	2017			2016
Notes payable and overdrafts:	$	262		$	245
Weighted average interest rate	5.00		%	6.18		%
Long term debt and capital leases due within one year:
Chinese credit facilities	$	113		$	146
Other domestic and foreign debt (including capital leases)	278			290
Total long term debt and capital leases due within one year	$	391		$	436
Weighted average interest rate	6.86		%	9.39		%
Total obligations due within one year	$	653		$	681

Schedule of Long-term Debt and Capital Leases, Net of Unamortized Discounts, and Interest Rates

The following table presents long term debt and capital leases, net of unamortized discounts, and interest rates:

	December 31, 2017					December 31, 2016
(In millions)	Amount			Interest Rate		Amount			Interest Rate
Notes:
8.75% due 2020	$	275				$	273
7% due 2022	—					700
5.125% due 2023	1,000					1,000
3.75% Euro Notes due 2023	300					264
5% due 2026	900					900
4.875% due 2027	700					—
7% due 2028	150					150
Credit Facilities:
$2.0 billion first lien revolving credit facility due 2021	—			—		85			1.98	%
Second lien term loan facility due 2019	400			3.50	%	399			3.75	%
€550 million revolving credit facility due 2020	—			—		—			—
Pan-European accounts receivable facility	224			0.90	%	198			0.98	%
Mexican credit facilities	340			3.14	%	138			2.78	%
Chinese credit facilities	212			4.87	%	315			4.68	%
Other foreign and domestic debt(1)	967			6.02	%	813			10.23	%
	5,468					5,235
Unamortized deferred financing fees	(41		)			(42		)
	5,427					5,193
Capital lease obligations	40					41
	5,467					5,234
Less portion due within one year	(391		)			(436		)
	$	5,076				$	4,798

(1) Interest rates are weighted average interest rates related to various foreign credit facilities with customary terms and conditions and domestic debt related to our Global and Americas Headquarters.

Maturities of Long-term Debt and Capital Leases

The annual aggregate maturities of our debt (excluding the impact of deferred financing fees and unamortized discounts) and capital leases for the five years subsequent to December 31, 2017 are presented below. Maturities of debt credit agreements have been reported on the basis that the commitments to lend under these agreements will be terminated effective at the end of their current terms.

(In millions)	2018		2019		2020		2021		2022
U.S.	$	60	$	541	$	483	$	—	$	—
Foreign	593		587		144		28		91
	$	653	$	1,128	$	627	$	28	$	91

Fair Values for Foreign Currency Contracts not Designated as Hedging Instruments

The following table presents fair values for foreign currency contracts not designated as hedging instruments:

	December 31,			December 31,
(In millions)	2017			2016
Fair Values — Current asset (liability):
Accounts receivable	$	3		$	30
Other current liabilities	(9		)	(18		)

Fair Values for Foreign Currency Contracts Designated as Cash Flow Hedges

The following table presents fair values for foreign currency contracts designated as cash flow hedging instruments:

	December 31,			December 31,
(In millions)	2017			2016
Fair Values — Current asset (liability):
Accounts receivable	$	1		$	9
Other current liabilities	(8		)	—
Fair Values — Long term asset (liability):
Other assets	$	—		$	2
Other long term liabilities	(2		)	—

Classification of Changes in Fair Values of Foreign Currency Contracts Designated as Cash Flow Hedging Instruments

The following table presents the classification of changes in fair values of foreign currency contracts designated as cash flow hedging instruments (before tax and minority):

	Year Ended
	December 31,
(In millions) (Income) Expense	2017			2016
Amounts deferred to AOCL	$	28		$	(12	)
Amount of deferred loss (gain) reclassified from AOCL into CGS	2			(6		)
Amounts excluded from effectiveness testing	(2		)	(1		)