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.