Financing Arrangements and Derivative Financial Instruments (Tables)

9 Months Ended

Sep. 30, 2018

The following table presents amounts due within one year:



	September 30,			December 31,
(In millions)	2018			2017
Notes payable and overdrafts	$	445		$	262
Weighted average interest rate	6.63		%	5.00		%

Chinese credit facilities	$	43		$	113
Mexican credit facilities	90			—
Other foreign and domestic debt (including capital leases)	338			278
Long term debt and capital leases due within one year	$	471		$	391
Weighted average interest rate	3.49		%	6.86		%
Total obligations due within one year	$	916		$	653

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



	September 30, 2018					December 31, 2017
				Interest					Interest
(In millions)	Amount			Rate		Amount			Rate
Notes:
8.75% due 2020	$	277				$	275
5.125% due 2023	1,000					1,000
3.75% Euro Notes due 2023	290					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	325			3.41	%	—			—
Second lien term loan facility due 2025	400			4.15	%	400			3.50	%
€550 million revolving credit facility due 2020	360			3.90	%	—			—
Pan-European accounts receivable facility	221			0.89	%	224			0.90	%
Mexican credit facilities	340			3.90	%	340			3.14	%
Chinese credit facilities	157			4.98	%	212			4.87	%
Other foreign and domestic debt⁽¹⁾	955			5.28	%	967			6.02	%
	6,075					5,468
Unamortized deferred financing fees	(37		)			(41		)
	6,038					5,427
Capital lease obligations	37					40
	6,075					5,467
Less portion due within one year	(471		)			(391		)
	$	5,604				$	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.

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



	September 30,			December 31,
(In millions)	2018			2017
Fair Values — Current asset (liability):
Accounts receivable	$	22		$	3
Other current liabilities	(3		)	(9		)

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



	September 30,			December 31,
(In millions)	2018			2017
Fair Values — Current asset (liability):
Accounts receivable	$	6		$	1
Other current liabilities	(2		)	(8		)
Fair Values — Long term asset (liability):
Other assets	$	2		$	—
Other long term liabilities	—			(2		)

The following table presents information related to foreign currency contracts designated as cash flow hedging instruments (before tax and minority):



	Three Months Ended						Nine Months Ended
	September 30,						September 30,
(In millions) (Income) Expense	2018			2017			2018			2017
Amounts deferred to Accumulated Other Comprehensive Loss ("AOCL")	$	(1	)	$	7		$	(9	)	$	28
Amount of deferred (gain) loss reclassified from AOCL into CGS	1			1			8			(3		)
Amounts excluded from effectiveness testing	—			(1		)	(1		)	(2		)