v3.2.0.727
Derivative Financial Instruments and Hedging Activities (Tables)
 6 Months Ended
Jun. 30, 2015
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Derivative financial instruments recognized in the Condensed Consolidated Balance Sheet
The fair value of derivative financial instruments recognized in the Condensed Consolidated Balance Sheets follows:
 
Notional
amount
 
Other
 current
assets
 
Other
noncurrent
assets
 
Other
current
liabilities
 
Other
noncurrent
liabilities
 
Type of
hedge
 
Term
June 30, 2015
 
 
 
 
 
 
 
 
 
 
 
 
 
Derivatives designated as hedges
 
 
 
 
 
 
 
 
 
 
 
 
 
Fixed-to-floating interest rate swaps
$
3,440

 
$
—

 
$
81

 
$
—

 
$
10

 
Fair value
 
2 to 19 years
Currency exchange contracts
533

 
10

 
1

 
4

 
2

 
Cash flow
 
1 to 36 months
Commodity contracts
1

 
—

 
—

 
—

 
—

 
Cash flow
 
1 to 12 months
Total
 
 
$
10

 
$
82

 
$
4

 
$
12

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Derivatives not designated as
 hedges
 
 
 
 
 
 
 
 
 
 
 
 
 
Currency exchange contracts
$
3,975

 
$
25

 
 
 
$
28

 
 
 
 
 
1 to 12 months
Total
 
 
$
25

 
 
 
$
28

 

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
December 31, 2014
 
 
 
 
 
 
 
 
 
 
 
 
 
Derivatives designated as hedges
 
 
 
 
 
 
 
 
 
 
 
 
 
Fixed-to-floating interest rate swaps
$
3,440

 
$
—

 
$
84

 
$
—

 
$
10

 
Fair value
 
2 to 19 years
Currency exchange contracts
432

 
8

 
1

 
5

 
3

 
Cash flow
 
1 to 36 months
Commodity contracts
1

 
—

 
—

 
—

 
—

 
Cash flow
 
1 to 12 months
Total
 
 
$
8

 
$
85

 
$
5

 
$
13

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Derivatives not designated as
 hedges
 
 
 
 
 
 
 
 
 
 
 
 
 
Currency exchange contracts
$
4,447

 
$
47

 
 
 
$
52

 
 
 
 
 
1 to 12 months
Total
 
 
$
47

 
 
 
$
52

 
 
 
 
 
 
Amounts Recognized in Accumulated Other Comprehensive Loss
Amounts recognized in Accumulated other comprehensive loss follow:
 
Gain (loss) recognized in
other comprehensive
(loss) income
 
Location of gain
reclassified from
Accumulated other
comprehensive loss
 
Gain (loss) reclassified
from Accumulated other
comprehensive loss
 
Three months ended
June 30
 
 
 
Three months ended
June 30
 
2015
 
2014
 
 
 
2015
 
2014
Derivatives designated as
   cash flow hedges
 
 
 
 
 
 
 
 
 
Floating-to-fixed interest rate swaps
$
—

 
$
—

 
Interest expense - net
 
$
—

 
$
(1
)
Currency exchange contracts
8

 
3

 
Cost of products sold
 
4

 
2

Total
$
8

 
$
3

 
 
 
$
4

 
$
1

 
Gain (loss) recognized in
other comprehensive
(loss) income
 
Location of gain
reclassified from
Accumulated other
comprehensive loss
 
Gain (loss) reclassified
from Accumulated other
comprehensive loss
 
Six months ended
June 30
 
 
 
Six months ended
June 30
 
2015

2014
 
 
 
2015
 
2014
Derivatives designated as cash
   flow hedges
 
 
 
 
 
 
 
 
 
Floating-to-fixed interest rate swaps
$
—

 
$
—

 
Interest expense - net
 
$
—

 
$
(1
)
Currency exchange contracts
10

 
5

 
Cost of products sold
 
6

 
4

Total
$
10

 
$
5

 
 
 
$
6

 
$
3
Amounts recognized in net income
Amounts recognized in net income follow:
 
Three months ended
June 30
 
Six months ended
June 30
 
2015

2014
 
2015
 
2014
Derivatives designated as fair value hedges
 
 
 
 
 
 
 
Fixed-to-floating interest rate swaps
$
(51
)
 
$
44

 
$
(3
)
 
$
73

Related long-term debt converted to floating interest
   rates by interest rate swaps
51

 
(44
)
 
3

 
(73
)
 
$
—

 
$
—

 
$
—

 
$
—