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Derivative Instruments (Tables)
3 Months Ended
Mar. 31, 2017
Derivative Instruments  
Effect of commodity forward contracts designated as cash flow hedges on the results of operations

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Amount of Gain Reclassified from

 

Amount of Gain (Loss) Recognized in OCI on

 

Accumulated OCI into Income

 

Commodity Forward Contracts

 

(reported in cost of goods sold)

 

(Effective Portion)

 

(Effective Portion)

 

2017

    

2016

    

2017

    

2016

 

$

 6

 

$

(4)

 

$

 —

 

$

 2

 

 

Effect of the foreign exchange contracts not designated as hedging instruments on the results of operations

 

 

 

 

 

 

 

 

 

 

Amount of Gain (Loss)

 

Location of Gain (Loss)

 

Recognized in Income on

 

Recognized in Income on

 

Foreign Exchange Contracts

 

Foreign Exchange Contracts

 

2017

 

2016

 

Other expense

    

$

 —

    

$

 5

 

 

Balance Sheet Classification of derivative instruments

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Fair Value

 

 

 

 

Balance Sheet

 

March 31,

 

December 31,

 

March 31,

 

 

 

    

Location

    

2017

    

2016

    

2016

 

 

Asset derivatives:

    

    

    

 

    

    

 

    

 

 

    

    

 

Derivatives designated as hedging instruments:

 

 

 

 

 

 

 

 

 

 

 

 

 

Commodity futures contracts

 

a

 

$

 2

 

$

 6

 

$

 —

 

 

Derivatives not designated as hedging instruments:

 

 

 

 

 

 

 

 

 

 

 

 

 

Foreign exchange derivative contracts

 

a

 

 

 5

 

 

 9

 

 

15

 

 

Total asset derivatives

 

 

 

$

 7

 

$

15

 

$

15

 

 

Liability derivatives:

 

 

 

 

 

 

 

 

 

 

 

 

 

Derivatives designated as hedging instruments:

 

 

 

 

 

 

 

 

 

 

 

 

 

Commodity futures contracts

 

c

 

$

 1

 

$

 —

 

$

 4

 

 

Derivatives not designated as hedging instruments:

 

 

 

 

 

 

 

 

 

 

 

 

 

Foreign exchange derivative contracts

 

c

 

 

 2

 

 

 5

 

 

 2

 

 

Total liability derivatives

 

 

 

$

 3

 

$

 5

 

$

 6