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

12 Months Ended

Dec. 31, 2018

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Fair Value, Cash Flow and Net Investment Hedges

The following tables summarize the location and amount of gains (losses) related to derivative and debt financial instruments for the years ended December 31, 2018, 2017 and 2016. All dollar amounts are shown on a pre-tax basis.

	2018						2017					2016						Caption in Consolidated Statement of Income
($ in millions)	(Loss)/Gain Deferred in AOCL			Gain/(Loss) Recognized			Loss Deferred in AOCL			Gain Recognized		Gain/(Loss) Deferred in AOCL			(Loss)/Gain Recognized
Fair Value
Interest rate Swaps					$3						$—					$—		Interest expense
Total Fair Value					$3						$—					$—
Cash Flow
Foreign currency forward contracts(1)		($9	)		($8	)		($7	)		$9		$1			($5	)	Other charges and Cost of sales
Total Cash Flow		($9	)		($8	)		($7	)		$9		$1			($5	)
Net Investment
Cross currency swaps		$21			$13			($61	)		$—		$25			$—		Interest expense
Foreign denominated debt	124			—			(403		)	—		122			—
Foreign currency forward contracts	—			—			—			—		(14		)	—
Total Net Investment		$145			$13			($464	)		$—		$133			$—
Economic
Foreign currency forward contracts					$55						$14					$14		Other charges

Schedule of Derivative Liabilities at Fair Value

Assets and liabilities reported at fair value on a recurring basis

	December 31, 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)	—		—		—		—		6		—
Foreign currency forward contracts(b)	—		45		—		—		—		—
Cross currency swaps(c)	—		—		—		—		2		—
Other assets:
Cross currency swaps(c)		$—		$35		$—		$—		$—		$—
Interest rate swaps(d)	—		8		—		—		—		—
Investments:
Marketable equity securities		$69		$—		$—		$79		$—		$—
Liabilities:
Accounts payable and accrued liabilities:
Foreign currency forward contracts(a)		$—		$1		$—		$—		$23		$—
Foreign currency forward contracts(b)	—		9		—		—		—		—

Schedule of Long-term Debt Instruments

Long-Term Debt

($ in millions)	December 31, 2018(a)	December 31, 2017(b)
Long-term debt - carrying value	$5,000	$4,123
Long-term debt - fair value	$5,101	$4,341

(a) Excluding capital lease obligations of $12 million and short term borrowings of $4 million as of December 31, 2018.

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