Supplemental financial information (Tables)

9 Months Ended

Sep. 30, 2014

Supplemental Financial Information [Abstract]

Schedule of Prepaid expenses and other current assets

Prepaid expenses and other current assets

	September 30, 2014		December 31, 2013
Prepaid taxes on intercompany inventory profits	$	743	$	667
Assets held for sale (a)	77		—
Other prepaid expenses and current assets	144		196
Prepaid expenses and other current assets	$	964	$	863

(a) As of September 30, 2014, we had excess assets in various locations, with an aggregate carrying value of $77 million, which met the criteria to be considered held for sale and were included in Prepaid expenses and other current assets in our Consolidated Balance Sheets. Prior to the reclassification in the first quarter of 2014, the comparable carrying amount of these assets as of December 31, 2013, of $81 million, was in Property, plant and equipment, net. Assets considered held for sale are no longer being depreciated. We expect the sales transactions applicable to these assets to be completed within the next year and any resulting gain on such sales will be recognized on the Restructuring charges/other line of our Consolidated Statements of Income in Other.

Details about AOCI components

The table below details where these transactions are recorded on the Consolidated Statements of Income.

	For Three Months Ended September 30,						For Nine Months Ended September 30,						Impact to Related Statement of Income Line
Details About AOCI Components	2014			2013			2014			2013
Net actuarial gains (losses) of defined benefit plans:
Recognized net actuarial loss and Settlement losses (a)	$	25		$	24		$	58		$	71		Increase to Pension expense (b)
Tax effect	(8		)	(11		)	(20		)	(25		)	Decrease to Provision for income taxes
Recognized within Net income, net of taxes	$	17		$	13		$	38		$	46		Decrease to Net income
Prior service cost of defined benefit plans:
Amortization of prior service cost (credit) and Curtailment gain (a)	$	(1	)	$	(2	)	$	—		$	(5	)	Decrease to Pension expense (b)
Tax effect	—			1			—			2			Increase to Provision for income taxes
Recognized within Net income, net of taxes	$	(1	)	$	(1	)	$	—		$	(3	)	Increase to Net income
Derivative instruments:
Amortization of treasury rate locks	$	—		$	—		$	1		$	2		Increase to Interest and debt expense
Tax effect	—			—			—			(1		)	Decrease to Provision for income taxes
Recognized within Net income, net of taxes	$	—		$	—		$	1		$	1		Decrease to Net income

(a) Detailed in Note 7.

(b) Pension expense is included in the computation of total employee benefit cost, which is allocated to COR, R&D, SG&A and Restructuring charges/other in the Consolidated Statements of Income.