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Fair Value Measurements and Financial Instruments (Tables) | 3 Months Ended
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Mar. 31, 2017
Financial Instruments and Fair Value Measurements [Abstract] |
Schedule of derivative instruments | The following table summarizes the fair value of the Company’s derivative instruments and other financial instruments at March 31, 2017 and December 31, 2016:
| Assets |  | Liabilities
| Account |  | Fair Value |  | Account |  | Fair Value
Designated derivative instruments |  | 3/31/17 |  | 12/31/16 |  |  |  | 3/31/17 |  | 12/31/16
Interest rate swap contracts | Other current assets |  | $ | — |  |  | $ | 1 |  |  | Other accruals |  | $ | — |  |  | $ | — |
Interest rate swap contracts | Other assets |  | — |  |  | 1 |  |  | Other liabilities |  | 1 |  |  | — |
Foreign currency contracts | Other current assets |  | 10 |  |  | 29 |  |  | Other accruals |  | 18 |  |  | 4 |
Foreign currency contracts | Other assets |  | 2 |  |  | 5 |  |  | Other liabilities |  | 1 |  |  | — |
Commodity contracts | Other current assets |  | — |  |  | — |  |  | Other accruals |  | — |  |  | — |
Total designated |  |  | $ | 12 |  |  | $ | 36 |  |  |  |  | $ | 20 |  |  | $ | 4 |
Derivatives not designated |  |  |  |  |  |  |  |  |  |  |  |  |  |
Foreign currency contracts | Other assets |  | $ | — |  |  | $ | — |  |  | Other liabilities |  | $ | — |  |  | $ | — |
Total not designated |  |  | $ | — |  |  | $ | — |  |  |  |  | $ | — |  |  | $ | — |
Total derivative instruments |  | $ | 12 |  |  | $ | 36 |  |  |  |  | $ | 20 |  |  | $ | 4 |
Other financial instruments |  |  |  |  |  |  |  |  |  |  |  |  |  |
Marketable securities | Other current assets |  | $ | 56 |  |  | $ | 23 |  |  |  |  |  |  |  |  |
Total other financial instruments |  | $ | 56 |  |  | $ | 23 |  |  |  |  |  |  |  |  |
Activity related to fair value hedges | Activity related to fair value hedges recorded during the three months ended March 31, 2017 and 2016 was as follows:
| 2017 |  | 2016
| Foreign Currency Contracts |  | Interest Rate Swaps |  | Total |  | Foreign Currency Contracts |  | Interest Rate Swaps |  | Total
Notional Value at March 31, | $ | 246 |  |  | $ | 850 |  |  | $ | 1,096 |  |  | $ | 422 |  |  | $ | 1,250 |  |  | $ | 1,672 |
Three months ended March 31, |  |  |  |  |  |  |  |  |  |  |
Gain (loss) on derivatives | 2 |  |  | (2 | ) |  | — |  |  | 1 |  |  | 8 |  |  | 9 |
Gain (loss) on hedged items | (2 | ) |  | 2 |  |  | — |  |  | (1 | ) |  | (8 | ) |  | (9 | )
Activity related to cash flow hedges | Activity related to cash flow hedges recorded during the three months ended March 31, 2017 and 2016 was as follows:
| 2017 |  | 2016
| Foreign Currency Contracts |  | Commodity Contracts |  | Total |  | Foreign Currency Contracts |  | Commodity Contracts |  | Total
Notional Value at March 31, | $ | 667 |  |  | $ | 4 |  |  | $ | 671 |  |  | $ | 817 |  |  | $ | 8 |  |  | $ | 825 |
Three months ended March 31, |  |  |  |  |  |  |  |  |  |  |
Gain (loss) recognized in OCI | (13 | ) |  | — |  |  | (13 | ) |  | (14 | ) |  | — |  |  | (14 | )
Gain (loss) reclassified into Cost of sales | 3 |  |  | — |  |  | 3 |  |  | 3 |  |  | (1 | ) |  | 2 |
Activity related to net investment hedges | Activity related to net investment hedges recorded during the three months ended March 31, 2017 and 2016 was as follows:
| 2017 |  | 2016
| Foreign Currency Contracts |  | Foreign Currency Debt |  | Total |  | Foreign Currency Contracts |  | Foreign Currency Debt |  | Total
Notional Value at March 31, | $ | 655 |  |  | $ | 1,206 |  |  | $ | 1,861 |  |  | $ | 795 |  |  | $ | 1,305 |  |  | $ | 2,100 |
Three months ended March 31, |  |  |  |  |  |  |  |  |  |  |
Gain (loss) on instruments | (18 | ) |  | (16 | ) |  | (34 | ) |  | (26 | ) |  | (49 | ) |  | (75 | )
Gain (loss) on hedged items | 20 |  |  | 16 |  |  | 36 |  |  | 23 |  |  | 49 |  |  | 72 |
Activity related to derivatives not designated as hedging instruments | Activity related to these contracts during the three months ended March 31, 2017 and 2016 was as follows:
|  | 2017 |  | 2016
|  | Foreign Currency Contracts |  | Foreign Currency Contracts
Notional Value at March 31, |  | $ | — |  |  | $ | 102 |
Three months ended March 31, |  |  |  |  |
Gain (loss) on instruments |  | — |  |  | 3 |
Gain (loss) on hedged items |  | — |  |  | (3 | )

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