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Financing Arrangements and Derivative Financial Instruments (Tables)
 3 Months Ended
Mar. 31, 2018
Financing Arrangements and Derivative Financial Instruments [Abstract]  
Notes Payable and Overdrafts, Long Term Debt and Capital Leases Due Within One Year
The following table presents amounts due within one year:
 
March 31,
 
December 31,
(In millions)
2018
 
2017
Notes payable and overdrafts
$
332

 
$
262

Weighted average interest rate
4.62
%
 
5.00
%
 
 
 
 
  Chinese credit facilities
$
73

 
$
113

Other domestic and foreign debt (including capital leases)
254

 
278

Long term debt and capital leases due within one year
$
327

 
$
391

Weighted average interest rate
5.42
%
 
6.86
%
Total obligations due within one year
$
659

 
$
653
Long Term Debt and Capital Leases, Net
The following table presents long term debt and capital leases, net of unamortized discounts, and interest rates:
 
March 31, 2018
 
December 31, 2017
 
 
 
Interest
 
 
 
Interest
(In millions)
Amount
 
Rate
 
Amount
 
Rate
Notes:
 
 
 
 
 
 
 
8.75% due 2020
$
276

 
 
 
$
275

 
 
5.125% due 2023
1,000

 
 
 
1,000

 
 
3.75% Euro Notes due 2023
308

 
 
 
300

 
 
5% due 2026
900

 
 
 
900

 
 
4.875% due 2027
700

 
 
 
700

 
 
7% due 2028
150

 
 
 
150

 
 
Credit Facilities:
 
 
 
 
 
 
 
$2.0 billion first lien revolving credit facility due 2021
165

 
3.01
%
 
—

 
—

Second lien term loan facility due 2025
400

 
3.71
%
 
400

 
3.50
%
€550 million revolving credit facility due 2020
401

 
1.75
%
 
—

 
—

Pan-European accounts receivable facility
153

 
0.96
%
 
224

 
0.90
%
Mexican credit facilities
340

 
3.19
%
 
340

 
3.14
%
Chinese credit facilities
185

 
4.99
%
 
212

 
4.87
%
Other foreign and domestic debt(1)
949

 
5.63
%
 
967

 
6.02
%
 
5,927

 
 
 
5,468

 
 
Unamortized deferred financing fees
(41
)
 
 
 
(41
)
 
 
 
5,886

 
 
 
5,427

 
 
Capital lease obligations
41

 
 
 
40

 
 
 
5,927

 
 
 
5,467

 
 
Less portion due within one year
(327
)
 
 
 
(391
)
 
 
 
$
5,600

 
 
 
$
5,076

 
 

(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.
Fair Values for Foreign Currency Contracts Not Designated as Hedging Instruments
The following table presents the fair values for foreign currency contracts not designated as hedging instruments:
 
March 31,
 
December 31,
(In millions)
2018
 
2017
Fair Values — Current asset (liability):
 
 
 
Accounts receivable
$
19

 
$
3

Other current liabilities
(7
)
 
(9
)
Fair Values for Foreign Currency Contracts Designated as Cash Flow Hedging Instruments
The following table presents fair values for foreign currency contracts designated as cash flow hedging instruments:
 
March 31,
 
December 31,
(In millions)
2018
 
2017
Fair Values — Current asset (liability):
 
 
 
Accounts receivable
$
1

 
$
1

Other current liabilities
(10
)
 
(8
)
Fair Values — Long term asset (liability):
 
 
 
Other long term liabilities
$
(2
)
 
$
(2
)
Information Related to Foreign Currency Contracts Designated as Cash Flow Hedging Instruments
The following table presents information related to foreign currency contracts designated as cash flow hedging instruments (before tax and minority):
 
Three Months Ended
 
March 31,
(In millions) (Income) Expense
2018
 
2017
Amounts deferred to Accumulated Other Comprehensive Loss ("AOCL")
$
6

 
$
8

Amount of deferred (gain) loss reclassified from AOCL into CGS
4

 
(2
)
Amounts excluded from effectiveness testing
—

 
(1
)