Derivative Instruments and Hedging Activities (Tables)

9 Months Ended

Sep. 30, 2015

Derivative Instruments and Hedging Activities

Schedule of pre-tax (losses) gains included in the Company's condensed consolidated statements of operations

The pre-tax (losses) gains included in our condensed consolidated statements of operations are as follows, in millions:

	Three Months Ended					Nine Months Ended
	September 30,					September 30,
	2015			2014		2015			2014
Foreign currency contracts
Exchange contracts	$	—		$	5	$	3		$	2
Forward contracts	1			1		(3		)	—
Metal contracts	(9		)	—		(14		)	—
Interest rate swaps	—			—		(1		)	(1		)
Total (loss) gain	$	(8	)	$	6	$	(15	)	$	1

Schedule of notional amounts being hedged and the fair value of derivative instruments

The notional amounts being hedged and the fair value of those derivative instruments are as follows, in millions:

	At September 30, 2015
	Notional
	Amount		Balance Sheet
Foreign currency contracts
Exchange contracts	$	28
Receivables			$	1
Forward contracts	35
Accrued liabilities			(3		)
Metals contracts	67
Accrued liabilities			(9		)
Other liabilities			(2		)

	At December 31, 2014
	Notional
	Amount		Balance Sheet
Foreign currency contracts
Exchange contracts	$	55
Receivables			$	6
Forward contracts	79
Other assets			2
Accrued liabilities			(1		)
Metals contracts	70
Accrued liabilities			(2		)