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Financial Instruments, Hedging Activities and Fair Value Measurements (Tables)
9 Months Ended
Sep. 30, 2017
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Fair Value, Cash Flow and Net Investment Hedges
The following tables summarize the location within the financial statements and amount of gains (losses) related to derivative financial instruments for the nine months ended September 30, 2017 and 2016. All dollar amounts are shown on a pre-tax basis.
($ in millions)
September 30, 2017

Hedge Type
Loss Deferred in OCI
 
Gain Recognized
Amount
 
Caption
Cash Flow
 
 
 
 
 
Foreign currency forward contracts (a)
$
(20
)
 
$
4

 
Other charges
Total Cash Flow
$
(20
)

$
4

 
 
Net Investment
 
 
 
 
 
Foreign currency forward contracts
$
(2
)
 
 
 
 
Cross currency swaps
(54
)
 


 
 
Foreign denominated debt
(363
)
 
 
 
 
Total Net Investment
$
(419
)
 


 
 
(a) The ineffective portion related to this item was $6 million of expense.
($ in millions)
September 30, 2016

Hedge Type
Gain (Loss) Deferred in OCI
 
Gain Recognized
Amount
 
Caption
Cash Flow
 
 
 
 
 
Foreign currency forward contracts (a)
7

 
8

 
Other charges
Total Cash Flow
$
7

 
$
8

 
 
Net Investment
 
 
 
 
 
Cross currency swaps
$
(13
)
 


 
 
Foreign denominated debt
(67
)
 
 
 
 
Total Net Investment
$
(80
)
 


 
 

(a) The ineffective portion related to this item was $7 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, 2017
($ in millions)
Level 1
 
Level 2
 
Level 3
Assets:
 
 
 
 
 
Other current assets:
 
 
 
 
 
Marketable equity securities
$
4

 
$
—

 
$
—

Cross currency swaps
—

 
8

 
—

Foreign currency forward contracts
—

 
2

 
—

Investments:
 
 
 
 
 
Marketable equity securities
76

 
—

 
—

Liabilities:
 
 
 
 
 
Accounts payable and accrued liabilities:
 
 
 
 
 
Foreign currency forward contracts
—

 
15

 
—

 
 
 
December 31, 2016
($ in millions)
Level 1
 
Level 2
 
Level 3
Assets:
 
 
 
 
 
Other current assets:
 
 
 
 
 
Marketable equity securities
$
4

 
$
—

 
$
—

Foreign currency forward contracts
—

 
22

 
—

Investments:
 
 
 
 
 
Marketable equity securities
78

 
—

 
—

Other assets:
 
 
 
 
 
Cross currency swaps
—

 
65

 
—

Liabilities:
 
 
 
 
 
Accounts payable and accrued liabilities:
 
 
 
 
 
Foreign currency forward contracts
—

 
9

 
—

Long-term Debt [Text Block]
($ in millions)
September 30, 2017 (a)
 
December 31, 2016 (b)
Long-term debt - carrying value
$
4,667

 
$
4,299

Long-term debt - fair value
$
4,885

 
$
4,502

(a) Excluding capital lease obligations of $16 million and short term borrowings of $22 million as of September 30, 2017.
(b) Excluding capital lease obligations of $18 million and short term borrowings of $99 million as of December 31, 2016.