Financial Instruments, Hedging Activities and Fair Value Measurements (Tables)

9 Months Ended

Sep. 30, 2014

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Fair Value, Cash Flow and Net Investment Hedges

The following table provides details for the nine months ended September 30, 2014 related to PPG's hedging activities. All dollar amounts are shown on a pre-tax basis.

($ in Millions)	September 30, 2014
Hedge Type	Gain (Loss) Deferred in OCI		Gain (Loss) Recognized
			Amount			Caption
Fair Value
Interest rate swaps	Not applicable		$	6		Interest expense
Foreign currency forward contracts	Not applicable		1			Net sales
Equity forward arrangements	Not applicable		11			Asbestos - net
Total Fair Value			$	18
Cash Flow
Forward starting swaps	—		$	(9	)	Interest expense
Foreign currency forward contracts (a)	23		24			Other charges
Total Cash Flow	$	23	$	15
Net Investment
Cross currency swaps	$	47	$	—		Other charges
Foreign currency forward contracts	45		—			Other charges
Foreign denominated debt	33		Not applicable
Total Net Investment	$	125	$	—

(a) The ineffective portion related to this item was $5 million of expense.

The following table provides details for the nine months ended September 30, 2013 related to PPG's hedging activities. All amounts are shown on a pre-tax basis:

($ in Millions)	September 30, 2013
Hedge Type	Gain (Loss) Deferred in OCI			Gain (Loss) Recognized
				Amount			Caption
Fair Value
Interest rate swaps	Not applicable			$	7		Interest expense
Foreign currency forward contracts	Not applicable			1			Net sales
Equity forward arrangements	Not applicable			46			Asbestos - net
Total Fair Value				$	54
Cash Flow
Forward starting swaps	—			(9		)	Interest expense
Foreign currency forward contracts (a)	29			30			Other charges
Total Cash Flow	$	29		$	21
Net Investment
Cross currency swaps	$	(15	)	$	—
Foreign denominated debt	(10		)	Not applicable
Total Net Investment	$	(25	)	$	—

(a) The ineffective portion related to this item was $6 million of expense.

Assets and Liabilities Reported at Fair Value on a Recurring Basis

Assets and liabilities reported at fair value on a recurring basis:

	September 30, 2014
($ in Millions)	Level 1		Level 2		Level 3
Assets:
Other current assets:
Marketable equity securities	$	5	$	—	$	—
Foreign currency forward contracts	—		39		—
Equity forward arrangement	—		218		—
Investments:
Marketable equity securities	73		—		—
Other Assets:
Foreign currency forward contracts	—		9		—
Liabilities:
Accounts payable and accrued liabilities:
Foreign currency forward contracts	—		24		—
Other liabilities:
Cross currency swaps	—		66		—
	December 31, 2013
($ in Millions)	Level 1		Level 2		Level 3
Assets:
Short-term investments:
Commercial paper and certificates of deposit	$	—	$	50	$	—
Other current assets:
Marketable equity securities	5		—		—
Foreign currency forward contracts	—		25		—
Equity forward arrangement	—		207		—
Investments:
Marketable equity securities	70		—		—
Other assets:
Foreign currency forward contracts	—		2		—
Liabilities:
Accounts payable and accrued liabilities:
Foreign currency forward contracts	—		7		—
Other liabilities:
Cross currency swaps	—		120		—
Foreign currency forward contracts	—		11		—