Financing Arrangements and Derivative Financial Instruments (Tables)

12 Months Ended

Dec. 31, 2016

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)	2016			2015
Notes payable and overdrafts:	$	245		$	49
Weighted average interest rate	6.18		%	9.42		%
Long term debt and capital leases due within one year:
Other domestic and foreign debt (including capital leases)	$	436		$	587
Unamortized deferred financing fees	—			(2		)
Total long term debt and capital leases due within one year	$	436		$	585
Weighted average interest rate	9.39		%	6.68		%
Total obligations due within one year	$	681		$	634

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, 2016					December 31, 2015
				Interest					Interest
(In millions)	Amount			Rate		Amount			Rate
Notes:
6.75% Euro Notes due 2019	$	—				$	272
8.75% due 2020	273					271
6.5% due 2021	—					900
7% due 2022	700					700
5.125% due 2023	1,000					1,000
3.75% Euro Notes due 2023	264					272
5% due 2026	900					—
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	399			3.75	%	598			3.75	%
€550 million revolving credit facility due 2020	—			—		—			—
Pan-European accounts receivable facility	198			0.98	%	125			1.35	%
Chinese credit facilities	315			4.68	%	465			5.22	%
Other foreign and domestic debt(1)	951			9.14	%	906			9.42	%
Unamortized deferred financing fees	(42		)			(48		)
	5,193					5,611
Capital lease obligations	41					48
	5,234					5,659
Less portion due within one year	(436		)			(585		)
	$	4,798				$	5,074

(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, 2016 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)	2017		2018		2019		2020		2021
U.S.	$	6	$	59	$	401	$	283	$	85
Foreign	675		253		497		61		19
	$	681	$	312	$	898	$	344	$	104

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)	2016			2015
Fair Values — Current asset (liability):
Accounts receivable	$	30		$	10
Other current liabilities	(18		)	(10		)

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)	2016		2015
Fair Values — Current asset (liability):
Accounts receivable	$	9	$	5
Other current liabilities	—		(1		)
Fair Values — Long Term asset (liability):
Other assets	$	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	2016			2015
Amounts deferred to AOCL	$	(12	)	$	(20	)
Amount of deferred loss (gain) reclassified from AOCL into CGS	(6		)	(28		)
Amounts excluded from effectiveness testing	(1		)	1