Equity (Tables)

9 Months Ended

Sep. 30, 2017

Equity [Abstract]

Schedule of Earnings Per Share

Quarters ended September 30, 2017 and October 1, 2016:

(millions, except per share data)	Net income		Average shares outstanding	Earnings per share
2017
Basic	$	297	345	$	0.86
Dilutive potential common shares			3	(0.01		)
Diluted	$	297	348	$	0.85
2016
Basic	$	292	350	$	0.83
Dilutive potential common shares			4	(0.01		)
Diluted	$	292	354	$	0.82

Year-to-date periods ended September 30, 2017 and October 1, 2016:

(millions, except per share data)	Net income		Average shares outstanding	Earnings per share
2017
Basic	$	841	348	$	2.41
Dilutive potential common shares			3	(0.02		)
Diluted	$	841	351	$	2.39
2016
Basic	$	747	350	$	2.13
Dilutive potential common shares			4	(0.02		)
Diluted	$	747	354	$	2.11

Reclassifications Out of AOCI

Reclassifications out of AOCI for the quarter and year-to-date periods ended September 30, 2017 and October 1, 2016, consisted of the following:

(millions)
Details about AOCI components	Amount reclassified from AOCI						Line item impacted within Income Statement
	Quarter ended September 30, 2017			Year-to-date period ended September 30, 2017
(Gains) losses on cash flow hedges:
Foreign currency exchange contracts	$	—		$	(1	)	COGS
Interest rate contracts	3			8			Interest expense
	$	3		$	7		Total before tax
	(1		)	(2		)	Tax expense (benefit)
	$	2		$	5		Net of tax
Amortization of postretirement and postemployment benefits:
Net experience loss	$	—		$	1		See Note 9 for further details
	$	—		$	1		Total before tax
	—			—			Tax expense (benefit)
	$	—		$	1		Net of tax
Total reclassifications	$	2		$	6		Net of tax

(millions)
Details about AOCI components	Amount reclassified from AOCI						Line item impacted within Income Statement
	Quarter ended October 1, 2016			Year-to-date period ended October 1, 2016
(Gains) losses on cash flow hedges:
Foreign currency exchange contracts	$	(4	)	$	(11	)	COGS
Foreign currency exchange contracts	(1		)	(1		)	SGA
Interest rate contracts	2			10			Interest expense
Commodity contracts	3			10			COGS
	$	—		$	8		Total before tax
	(1		)	(4		)	Tax expense (benefit)
	$	(1	)	$	4		Net of tax
Amortization of postretirement and postemployment benefits:
Net experience loss	$	1		$	3		See Note 9 for further details
Prior service cost	1			3			See Note 9 for further details
	$	2		$	6		Total before tax
	(1		)	(1		)	Tax expense (benefit)
	$	1		$	5		Net of tax
Total reclassifications	$	—		$	9		Net of tax

Summary of Accumulated Other Comprehensive Income (Loss)

(millions)	September 30, 2017			December 31,  2016
Foreign currency translation adjustments	$	(1,402	)	$	(1,505	)
Cash flow hedges — unrealized net gain (loss)	(62		)	(67		)
Postretirement and postemployment benefits:
Net experience loss	(13		)	(14		)
Prior service cost	11			11
Total accumulated other comprehensive income (loss)	$	(1,466	)	$	(1,575	)