Derivative Financial Instruments (Tables)

3 Months Ended

Mar. 31, 2018

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Summary of classification and fair value of derivative instruments

The following table summarizes the classification and fair values of derivative instruments on our Condensed Consolidated Balance Sheets (in millions):



	March 31, 2018
	Asset Derivatives			Liability Derivatives
	Classification	Fair Value		Classification	Fair Value
Derivatives designated as hedges:
Foreign currency exchange contracts	Other current assets	$	2	Other accrued liabilities	$	(104	)
Foreign currency exchange contracts	Other long-term assets	1		Other long-term obligations	(5		)
Total derivatives designated as hedges		3			(109		)
Derivatives not designated as hedges:
Foreign currency exchange contracts	Other current assets	1		Other accrued liabilities	(1		)
Total derivatives not designated as hedges		1			(1		)
Total derivatives		$	4		$	(110	)



	December 31, 2017
	Asset Derivatives			Liability Derivatives
	Classification	Fair Value		Classification	Fair Value
Derivatives designated as hedges:
Foreign currency exchange contracts	Other current assets	$	2	Other accrued liabilities	$	(89	)
Foreign currency exchange contracts	Other long-term assets	1		Other long-term obligations	(3		)
Total derivatives designated as hedges		3			(92		)
Derivatives not designated as hedges:
Foreign currency exchange contracts	Other current assets	10		Other accrued liabilities	(1		)
Total derivatives not designated as hedges		10			(1		)
Total derivatives		$	13		$	(93	)

Summary of effect of foreign currency exchange contracts

The following table summarizes the effect of our foreign currency exchange contracts on our Condensed Consolidated Financial Statements (in millions):



	Three Months Ended
	March 31,
	2018			2017
Derivatives designated as hedges:
Losses recognized in AOCI	$	(61	)	$	(94	)
Gains (losses) reclassified from AOCI into product sales	$	(48	)	$	43
Gains recognized in Other income (expense), net	$	—		$	13
Derivatives not designated as hedges:
Losses recognized in Other income (expense), net	$	(14	)	$	(135	)

Summary of potential effect of offsetting derivatives

The following table summarizes the potential effect of offsetting derivatives by type of financial instrument on our Condensed Consolidated Balance Sheets (in millions):



									Gross Amounts Not Offset on our Condensed Consolidated Balance Sheets
Description	Gross Amounts of Recognized Assets/Liabilities			Gross Amounts Offset on our Condensed Consolidated Balance Sheets		Amounts of Assets/Liabilities Presented on our Condensed Consolidated Balance Sheets			Derivative Financial Instruments			Cash Collateral Received/ Pledged		Net Amount (Legal Offset)
As of March 31, 2018
Derivative assets	$	4		$	—	$	4		$	(4	)	$	—	$	—
Derivative liabilities	$	(110	)	$	—	$	(110	)	$	4		$	—	$	(106	)
As of December 31, 2017
Derivative assets	$	13		$	—	$	13		$	(8	)	$	—	$	5
Derivative liabilities	$	(93	)	$	—	$	(93	)	$	8		$	—	$	(85	)