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

3 Months Ended

Mar. 31, 2015

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Fair Value, Cash Flow and Net Investment Hedges

The following table provides details for the three months ended March 31, 2015 related to PPG's hedging activities. All dollar amounts are shown on a pre-tax basis.

($ in millions)	March 31, 2015
Hedge Type	Gain Deferred in OCI		Gain (Loss) Recognized
			Amount			Caption
Fair Value
Equity forward arrangements	Not applicable		(7		)	Asbestos - net
Total Fair Value			$	(7	)
Cash Flow
Foreign currency forward contracts (a)	$	57	$	49		Other charges
Total Cash Flow	$	57	$	49
Net Investment
Cross currency swaps	$	82
Foreign currency forward contracts	18
Foreign denominated debt	113
Total Net Investment	$	213

(a) The ineffective portion related to this item was $2 million of expense.

The following table provides details for the three months ended March 31, 2014 related to PPG's hedging activities. All amounts are shown on a pre-tax basis:

($ in millions)	March 31, 2014
Hedge Type	Gain (Loss) Deferred in OCI			Gain (Loss) Recognized
				Amount			Caption
Fair Value
Equity forward arrangements	Not applicable			$	7		Asbestos - net
Total Fair Value				$	7
Cash Flow
Forward starting swaps	$	—		$	(3	)	Interest expense
Foreign currency forward contracts	5			5			Other charges
Total Cash Flow	$	5		$	2
Net Investment
Cross currency swaps	$	(6	)
Foreign denominated debt	(1		)
Total Net Investment	$	(7	)

Assets and Liabilities Reported at Fair Value on a Recurring Basis

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

	March 31, 2015
($ in millions)	Level 1		Level 2		Level 3
Assets:
Other current assets:
Marketable equity securities	$	5	$	—	$	—
Foreign currency forward contracts	—		103		—
Equity forward arrangement	—		261		—
Investments:
Marketable equity securities	78		—		—
Other Assets:
Foreign currency forward contracts	—		33		—
Cross currency swaps	—		65		—
Liabilities:
Accounts payable and accrued liabilities:
Foreign currency forward contracts	—		3		—
Other liabilities:
Foreign currency forward contracts	—		1		—
	December 31, 2014
($ in millions)	Level 1		Level 2		Level 3
Assets:
Other current assets:
Marketable equity securities	$	5	$	—	$	—
Foreign currency forward contracts	—		52		—
Equity forward arrangement	—		268		—
Investments:
Marketable equity securities	74		—		—
Other assets:
Foreign currency forward contracts	—		16		—
Liabilities:
Accounts payable and accrued liabilities:
Foreign currency forward contracts	—		23		—
Other liabilities:
Cross currency swaps	—		32		—