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Fair Value Measurements and Financial Instruments (Tables) | 6 Months Ended
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Jun. 30, 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 which are carried at fair value in the Company’s Consolidated Balance Sheets at June 30, 2017 and December 31, 2016:
| Assets |  | Liabilities
| Account |  | Fair Value |  | Account |  | Fair Value
Designated derivative instruments |  | 6/30/17 |  | 12/31/16 |  |  |  | 6/30/17 |  | 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 |  | 13 |  |  | 29 |  |  | Other accruals |  | 28 |  |  | 4 |
Foreign currency contracts | Other assets |  | — |  |  | 5 |  |  | Other liabilities |  | 26 |  |  | — |
Commodity contracts | Other current assets |  | — |  |  | — |  |  | Other accruals |  | — |  |  | — |
Total designated |  |  | $ | 13 |  |  | $ | 36 |  |  |  |  | $ | 55 |  |  | $ | 4 |
Derivatives not designated |  |  |  |  |  |  |  |  |  |  |  |  |  |
Foreign currency contracts | Other current assets |  | $ | — |  |  | $ | — |  |  | Other accruals |  | $ | 1 |  |  | $ | — |
Total not designated |  |  | $ | — |  |  | $ | — |  |  |  |  | $ | 1 |  |  | $ | — |
Total derivative instruments |  | $ | 13 |  |  | $ | 36 |  |  |  |  | $ | 56 |  |  | $ | 4 |
Other financial instruments |  |  |  |  |  |  |  |  |  |  |  |  |  |
Marketable securities | Other current assets |  | $ | 144 |  |  | $ | 23 |  |  |  |  |  |  |  |  |
Total other financial instruments |  | $ | 144 |  |  | $ | 23 |  |  |  |  |  |  |  |  |
Activity related to fair value hedges | Activity related to fair value hedges recorded during the three and six months ended June 30, 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 June 30, | $ | 930 |  |  | $ | 600 |  |  | $ | 1,530 |  |  | $ | 347 |  |  | $ | 1,250 |  |  | $ | 1,597 |
Three months ended June 30, |  |  |  |  |  |  |  |  |  |  |
Gain (loss) on derivatives | (3 | ) |  | — |  |  | (3 | ) |  | (6 | ) |  | 1 |  |  | (5 | )
Gain (loss) on hedged items | 3 |  |  | — |  |  | 3 |  |  | 6 |  |  | (1 | ) |  | 5 |
Six months ended June 30, |  |  |  |  |  |  |  |  |  |  |
Gain (loss) on derivatives | (1 | ) |  | (2 | ) |  | (3 | ) |  | (5 | ) |  | 9 |  |  | 4 |
Gain (loss) on hedged items | 1 |  |  | 2 |  |  | 3 |  |  | 5 |  |  | (9 | ) |  | (4 | )
Activity related to cash flow hedges | Activity related to cash flow hedges recorded during the three and six months ended June 30, 2017 and 2016 was as follows:
| 2017 |  | 2016
| Foreign Currency Contracts |  | Commodity Contracts |  | Total |  | Foreign Currency Contracts |  | Commodity Contracts |  | Total
Notional Value at June 30, | $ | 719 |  |  | $ | 2 |  |  | $ | 721 |  |  | $ | 705 |  |  | $ | 9 |  |  | $ | 714 |
Three months ended June 30, |  |  |  |  |  |  |  |  |  |  |
Gain (loss) recognized in OCI | (7 | ) |  | — |  |  | (7 | ) |  | 5 |  |  | 2 |  |  | 7 |
Gain (loss) reclassified into Cost of sales | (1 | ) |  | — |  |  | (1 | ) |  | (3 | ) |  | 1 |  |  | (2 | )
Six months ended June 30, |  |  |  |  |  |  |  |  |  |  |
Gain (loss) recognized in OCI | (20 | ) |  | — |  |  | (20 | ) |  | (9 | ) |  | 2 |  |  | (7 | )
Gain (loss) reclassified into Cost of sales | 2 |  |  | — |  |  | 2 |  |  | — |  |  | — |  |  | — |
Activity related to net investment hedges | Activity related to net investment hedges recorded during the three and six months ended June 30, 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 June 30, | $ | 800 |  |  | $ | 572 |  |  | $ | 1,372 |  |  | $ | 895 |  |  | $ | 1,280 |  |  | $ | 2,175 |
Three months ended June 30, |  |  |  |  |  |  |  |  |  |  |
Gain (loss) on instruments | (28 | ) |  | (78 | ) |  | (106 | ) |  | 10 |  |  | 26 |  |  | 36 |
Gain (loss) on hedged items | 27 |  |  | 78 |  |  | 105 |  |  | (7 | ) |  | (26 | ) |  | (33 | )
Six months ended June 30, |  |  |  |  |  |  |  |  |  |  |
Gain (loss) on instruments | (46 | ) |  | (93 | ) |  | (139 | ) |  | (16 | ) |  | (23 | ) |  | (39 | )
Gain (loss) on hedged items | 47 |  |  | 93 |  |  | 140 |  |  | 16 |  |  | 23 |  |  | 39 |
Activity related to derivatives not designated as hedging instruments | Activity related to these contracts during the three and six months ended June 30, 2017 and 2016 was as follows:
|  | 2017 |  | 2016
|  | Foreign Currency Contracts |  | Foreign Currency Contracts
Notional Value at June 30, |  | $ | 48 |  |  | $ | 5 |
Three months ended June 30, |  |  |  |  |
Gain (loss) on instruments |  | — |  |  | 2 |
Gain (loss) on hedged items |  | — |  |  | (2 | )
Six months ended June 30, |  |  |  |  |
Gain (loss) on instruments |  | — |  |  | 5 |
Gain (loss) on hedged items |  | — |  |  | (5 | )

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- Definition Tabular disclosure of the location and fair value amounts of derivative instruments (and nonderivative instruments that are designated and qualify as hedging instruments) reported in the statement of financial position. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4B -URI http://asc.fasb.org/extlink&oid=64837297&loc=SL5624163-113959 + Details
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