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

9 Months Ended

Sep. 30, 2018

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Fair Value, Cash Flow and Net Investment Hedges

following table summarizes the location within the condensed consolidated financial statements and amount of gains (losses) related to derivative financial instruments activity for the nine months ended September 30, 2018 and 2017. All dollar amounts are shown on a pre-tax basis.

	September 30, 2018					September 30, 2017
($ in millions)	Gain (Loss) Deferred in OCI		Gain (Loss) Recognized			Loss Deferred in OCI			Gain Recognized		Caption In Condensed Consolidated Statement of Income
Not Designated as Hedging Instruments:
Foreign currency forward contracts (1)		$—		$37			$—			$—	Other charges
Fair Value
Interest rate swaps	—		3			—			—		Interest expense
Cash Flow
Foreign currency forward contracts	7		(5		)	(20		)	4		Other charges and Cost of sales
Total Cash Flow		$7		$35			($20	)		$4
Net Investment
Foreign currency forward contracts		$—		$—			($2	)
Cross currency swaps	7		8			(54		)			Interest expense
Foreign denominated debt	92		—			(363		)
Total Net Investment		$99		$8			($419	)

Assets and Liabilities Reported at Fair Value on a Recurring Basis

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

	September 30, 2018						December 31, 2017
($ in millions)	Level 1		Level 2		Level 3		Level 1		Level 2		Level 3
Assets:
Other current assets:
Marketable equity securities		$4		$—		$—		$4		$—		$—
Foreign currency forward contracts (a)	—		1		—		—		4		—
Foreign currency forward contracts (b)	—		66		—		—		2		—
Cross currency swaps	—		—		—		—		2		—
Investments:
Marketable equity securities	83		—		—		79		—		—
Other assets
Cross currency swaps (d)	—		22		—		—		—		—
Liabilities:
Accounts payable and accrued liabilities:
Foreign currency forward contracts (a)	—		1		—		—		1		—
Foreign currency forward contracts (b)	—		2		—		—		22		—
Other liabilities
Interest rate swaps (c)	—		9		—		—		—		—

(a) Cash flow hedges	(c) Fair value hedges
(b) Derivatives not designated as hedging instruments	(d) Net investment hedges

Long-term Debt [Text Block]

($ in millions)	September 30, 2018 (a)		December 31, 2017 (b)
Long-term debt - carrying value		$5,014		$4,123
Long-term debt - fair value		$5,149		$4,341

(a) Excluding capital lease obligations of $13 million and short term borrowings of $11 million as of September 30, 2018.

(b) Excluding capital lease obligations of $15 million and short term borrowings of $8 million as of December 31, 2017.