XML 74 R52.htm IDEA: XBRL DOCUMENT v3.19.3.a.u2
Financial Instruments and Risk Management (Tables)
12 Months Ended
Dec. 31, 2019
Financial Instruments and Risk Management  
Schedule of fair value of derivative instruments

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December 31, 2019

($ in millions)

Balance Sheet Location

    

Derivatives
Designated
as Hedging
Instruments

    

Derivatives not
Designated as
Hedging
Instruments

    

Total

​

​

​

​

​

​

​

​

​

​

​

Assets:

​

​

​

​

​

​

​

​

​

​

Commodity contracts

​

​

$

7

​

$

1

​

$

8

Foreign currency contracts

​

​

​

4

​

​

43

​

​

47

Other contracts

​

​

​

2

​

​

—

​

​

2

Total current derivative contracts

Other current assets

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$

13

​

$

44

​

$

57

​

​

​

​

​

​

​

​

​

​

​

Foreign currency contracts

​

​

$

15

​

$

—

​

$

15

Other contracts

​

​

​

1

​

​

—

​

​

1

Total noncurrent derivative contracts

Other noncurrent assets

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$

16

​

$

—

​

$

16

 

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​

​

​

​

​

​

​

​

​

Liabilities:

​

​

​

​

​

​

​

​

​

​

Commodity contracts

​

​

$

26

​

$

1

​

$

27

Foreign currency contracts

​

​

​

—

​

​

18

​

​

18

Other contracts

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​

​

—

​

​

19

​

​

19

Total current derivative contracts

Other current liabilities

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$

26

​

$

38

​

$

64

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​

​

​

​

​

​

​

​

​

Commodity contracts

​

​

$

1

​

$

—

​

$

1

Total noncurrent derivative contracts

Other noncurrent liabilities

​

$

1

​

$

—

​

$

1

​

​

​

​

​

​

​

​

​

​

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December 31, 2018

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Derivatives
Designated
as Hedging
Instruments

    

Derivatives not
Designated as
Hedging
Instruments

    

Total

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​

​

​

​

​

​

​

​

​

​

Assets:

​

​

​

​

​

​

​

​

​

​

Commodity contracts

​

​

$

9

​

$

1

​

$

10

Foreign currency contracts

​

​

​

—

​

​

21

​

​

21

Cross-currency and other contracts

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​

​

—

​

​

5

​

​

5

Total current derivative contracts

Other current assets

​

$

9

​

$

27

​

$

36

​

​

​

​

​

​

​

​

​

​

​

Liabilities:

​

​

​

​

​

​

​

​

​

​

Commodity contracts

​

​

$

42

​

$

11

​

$

53

Foreign currency contracts

​

​

​

2

​

​

4

​

​

6

Cross-currency and other contracts

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​

​

1

​

​

2

​

​

3

Total current derivative contracts

Other current liabilities

​

$

45

​

$

17

​

$

62

​

​

​

​

​

​

​

​

​

​

​

Commodity contracts

​

​

$

2

​

$

—

​

$

2

Cross-currency and other contracts

​

​

​

62

​

​

—

​

​

62

Total noncurrent derivative contracts

Other noncurrent liabilities

​

$

64

​

$

—

​

$

64

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Schedule of impact on earnings from derivative instruments

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​

Year Ended December 31, 2019

($ in millions)

    

Location of Gain (Loss)
Recognized in Earnings
on Derivatives

​

    

Cash Flow
Hedge -
Reclassified
Amount from
Accumulated
Other
Comprehensive
Earnings (Loss)

    

Gain (Loss) on
Derivatives not
Designated as
Hedge
Instruments

​

​

​

​

​

​

​

​

​

​

Commodity contracts - manage exposure to customer pricing

​

Net sales

​

​

$

18

​

$

—

Commodity contracts - manage exposure to supplier pricing

​

Cost of sales

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​

​

(45)

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​

2

Interest rate contracts - manage exposure for outstanding debt

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Interest expense

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​

​

1

​

​

—

Foreign currency contracts - manage currency exposure

​

Selling, general and administrative

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​

​

7

​

​

111

Cross-currency swaps - manage intercompany currency exposure

​

Selling, general and administrative

​

​

​

35

​

​

—

Cross-currency swaps - manage intercompany currency exposure

​

Interest expense

​

​

​

12

​

​

—

Equity contracts

​

Selling, general and administrative

​

​

​

—

​

​

46

Total

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​

​

​

$

28

​

$

159

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​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Year Ended December 31, 2018

($ in millions)

    

Location of Gain (Loss)
Recognized in Earnings
on Derivatives

​

​

Cash Flow
Hedge -
Reclassified
Amount from
Accumulated
Other
Comprehensive
Earnings (Loss)

    

Gain (Loss) on
Derivatives not
Designated as
Hedge
Instruments

​

​

​

​

​

​

​

​

​

​

Commodity contracts - manage exposure to customer pricing

​

Net sales

​

​

$

1

​

$

1

Commodity contracts - manage exposure to supplier pricing

​

Cost of sales

​

​

​

54

​

​

8

Foreign currency contracts - manage currency exposure

​

Selling, general and administrative

​

​

​

1

​

​

70

Cross-currency swaps - manage intercompany currency exposure

​

Selling, general and administrative

​

​

​

49

​

​

—

Cross-currency swaps - manage intercompany currency exposure

​

Interest expense

​

​

​

14

​

​

—

Equity contracts

​

Selling, general and administrative

​

​

​

—

​

​

19

Total

​

​

​

​

$

119

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$

98

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​

​

​

​

​

​

​

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Year Ended December 31, 2017

($ in millions)

    

Location of Gain (Loss)
Recognized in Earnings
on Derivatives

​

​

Cash Flow
Hedge -
Reclassified
Amount from
Accumulated
Other
Comprehensive
Earnings (Loss)

    

Gain (Loss) on
Derivatives not
Designated as
Hedge
Instruments

​

​

​

​

​

​

​

​

​

​

Commodity contracts - manage exposure to customer pricing

​

Net sales

​

​

$

(7)

​

$

(4)

Commodity contracts - manage exposure to supplier pricing

​

Cost of sales

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​

​

50

​

​

(5)

Foreign currency contracts - manage general exposure with the business

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Selling, general and administrative

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(1)

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​

(57)

Cross-currency swaps - manage intercompany currency exposure within the business

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Selling, general and administrative

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​

​

(136)

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​

—

Cross-currency swaps - manage intercompany currency exposure within the business

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Interest expense

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​

​

16

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​

—

Equity contracts

​

Selling, general and administrative

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​

​

—

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(1)

Total

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$

(78)

​

$

(67)

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Schedule of changes in accumulated other comprehensive earnings (loss) for effective derivatives

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Years Ended December 31,

($ in millions)

    

2019

    

2018

    

2017

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Amounts reclassified into earnings:

​

​

​

​

​

​

​

​

​

Commodity contracts

​

$

27

​

$

(55)

​

$

(43)

Cross-currency swap contracts

​

​

(47)

​

​

(63)

​

​

120

Interest rate contracts

​

​

(1)

​

​

—

​

​

—

Currency exchange contracts

​

​

(7)

​

​

(1)

​

​

1

Change in fair value of cash flow hedges:

​

​

​

​

​

​

​

​

​

Commodity contracts

​

​

(10)

​

​

(31)

​

​

67

Interest rate contracts

​

​

1

​

​

—

​

​

—

Cross-currency swap contracts

​

​

78

​

​

69

​

​

(137)

Currency exchange contracts

​

​

17

​

​

(5)

​

​

7

Foreign currency and tax impacts

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​

(13)

​

​

19

​

​

20

Stranded tax effects reclassified into retained earnings:

​

​

​

​

​

​

​

​

​

Commodity contracts

​

​

2

​

​

—

​

​

—

Cross-currency swap contracts

​

​

(5)

​

​

—

​

​

—

​

​

$

42

​

$

(67)

​

$

35