Fair Value Measurements (Tables)

3 Months Ended

Mar. 31, 2018

Fair Value Disclosures [Abstract]

Information About Assets and Liabilities Recorded at Fair Value

The following table presents information about assets and liabilities recorded at fair value on the Consolidated Balance Sheets at March 31, 2018 and December 31, 2017:

	Total Carrying Value in the Consolidated Balance Sheet				Quoted Prices in Active Markets for Identical Assets/Liabilities (Level 1)				Significant Other Observable Inputs (Level 2)				Significant Unobservable Inputs (Level 3)
(In millions)	2018		2017		2018		2017		2018		2017		2018		2017
Assets:
Investments	$	10	$	11	$	10	$	11	$	—	$	—	$	—	$	—
Foreign Exchange Contracts	20		4		—		—		20		4		—		—
Total Assets at Fair Value	$	30	$	15	$	10	$	11	$	20	$	4	$	—	$	—
Liabilities:
Foreign Exchange Contracts	$	19	$	19	$	—	$	—	$	19	$	19	$	—	$	—
Total Liabilities at Fair Value	$	19	$	19	$	—	$	—	$	19	$	19	$	—	$	—

Supplemental Fair Value Information About Debt, Excluding Capital Leases

The following table presents supplemental fair value information about long term fixed rate and variable rate debt, excluding capital leases, at March 31, 2018 and December 31, 2017.

	March 31,		December 31,
(In millions)	2018		2017
Fixed Rate Debt(1):
Carrying amount — liability	$	3,625	$	3,616
Fair value — liability	3,651		3,786
Variable Rate Debt(1):
Carrying amount — liability	$	2,261	$	1,811
Fair value — liability	2,248		1,811

(1) Excludes Notes Payable and Overdrafts of $332 million and $262 million at March 31, 2018 and December 31, 2017, respectively, of which $176 million and $110 million, respectively, are at fixed rates and $156 million and $152 million, respectively, are at variable rates.  The carrying value of Notes Payable and Overdrafts approximates fair value due to the short term nature of the facilities.