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

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Amount of gain (loss) 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

    

2015

    

2017

    

2016

    

2015

 

$

 6

 

$

 7

 

$

(4)

 

$

 —

 

$

 —

 

$

(1)

 

 

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

 

2015

 

Other expense, net

    

$

10

    

$

 6

    

$

10

 

 

Schedule of selected information relating to fair value swaps

 

 

 

 

 

 

 

 

 

 

 

Amount Hedged

 

 

Receive Rate

 

Average Spread

Senior Notes due 2024

725

 

 

3.125

%

 

2.6

%

 

Balance Sheet Classification of derivative instruments

 

 

 

 

 

 

 

 

 

 

 

Fair Value

 

 

Balance Sheet

 

 

 

 

 

 

 

 

Location

 

2017

 

2016

Asset Derivatives:

    

 

    

 

 

    

 

 

Derivatives designated as hedging instruments:

 

 

 

 

 

 

 

 

Commodity futures contracts

 

b

 

$

 3

 

$

 6

Interest rate swaps designated as fair value hedges

 

a

 

 

 6

 

 

 

Hedges of multiple risks designated as cash flow hedges

 

a

 

 

 4

 

 

 

Derivatives not designated as hedging instruments:

 

 

 

 

 

 

 

 

Foreign exchange derivative contracts

 

a

 

$

 4

 

$

 9

Total asset derivatives

 

 

 

$

17

 

$

15

Liability Derivatives:

 

 

 

 

 

 

 

 

Derivatives designated as hedging instruments:

 

 

 

 

 

 

 

 

Commodity futures contracts

 

c

 

$

 —

 

$

 —

Interest rate swaps designated as fair value hedges

 

d

 

 

13

 

 

 

Hedges of multiple risks designated as cash flow hedges

 

d

 

 

10

 

 

 

Derivatives not designated as hedging instruments:

 

 

 

 

 

 

 

 

Foreign exchange derivative contracts

 

d

 

 

 1

 

 

 5

Total liability derivatives

 

 

 

$

24

 

$

 5