v2.4.0.8

Derivatives And Hedging Activities (Tables) | 9 Months Ended
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Sep. 30, 2014
Derivative Instruments and Hedging Activities Disclosure [Abstract] |
Schedule of Notional Amounts of Outstanding Derivative Positions | As of September 30, 2014, the Company had the following outstanding notional amounts related to commodity and foreign currency forward contracts that were entered into to hedge forecasted exposures:
Commodity | Quantity Hedged |  | Unit of Measure |  | Notional Amount (Approximate USD Equivalent)
| (in thousands) |  | (in millions)
Copper | 85,034 |  |  | pounds |  | $ | 265 |
Primary Aluminum | 29,125 |  |  | pounds |  | 25 |
Secondary Aluminum | 13,609 |  |  | pounds |  | 15 |
Foreign Currency | Quantity Hedged |  | Unit of Measure |  | Notional Amount (Approximate USD Equivalent)
| (in millions)
Mexican Peso | 11,077 |  |  | MXN |  | $ | 825 |
Euro | 184 |  |  | EUR |  | 235 |
Polish Zloty | 363 |  |  | PLN |  | 110 |
Chinese Yuan Renminbi | 538 |  |  | CNY |  | 85 |
New Turkish Lira | 170 |  |  | TRY |  | 75 |
Brazilian Real | 180 |  |  | BRL |  | 75 |
Hungarian Forint | 16,194 |  |  | HUF |  | 65 |
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value | The fair value of derivative financial instruments recorded in the consolidated balance sheets as of September 30, 2014 and December 31, 2013 are as follows:
| Asset Derivatives |  | Liability Derivatives |  | Net Amounts of Assets and Liabilities Presented in the Balance Sheet
| Balance Sheet Location |  | September 30, 2014 |  | Balance Sheet Location |  | September 30, 2014 |  | September 30, 2014
| (in millions)
Designated derivatives instruments: |  |
Commodity derivatives | Other current assets |  | $ | 1 |  |  | Accrued liabilities |  | $ | 11 |  |  |
Foreign currency derivatives* | Other current assets |  | 3 |  |  | Other current assets |  | 2 |  |  | 1 |
Foreign currency derivatives* | Accrued liabilities |  | 2 |  |  | Accrued liabilities |  | 8 |  |  | (6 | )
Commodity derivatives | Other long-term assets |  | — |  |  | Other long-term liabilities |  | 3 |  |  |
Foreign currency derivatives* | Other long-term assets |  | 1 |  |  | Other long-term assets |  | — |  |  | 1 |
Foreign currency derivatives* | Other long-term liabilities |  | — |  |  | Other long-term liabilities |  | 5 |  |  | (5 | )
Total |  |  | $ | 7 |  |  |  |  | $ | 29 |  |  |
Derivatives not designated:
Foreign currency derivatives* | Other current assets |  | $ | 20 |  |  | Other current assets |  | $ | — |  |  | 20 |
Foreign currency derivatives* | Accrued liabilities |  | — |  |  | Accrued liabilities |  | 1 |  |  | (1 | )
Total |  |  | $ | 20 |  |  |  |  | $ | 1 |  |  |
| Asset Derivatives |  | Liability Derivatives |  | Net Amounts of Assets and Liabilities Presented in the Balance Sheet
| Balance Sheet Location |  | December 31, 2013 |  | Balance Sheet Location |  | December 31, 2013 |  | December 31, 2013
| (in millions)
Designated derivatives instruments: |  |
Commodity derivatives | Other current assets |  | $ | 2 |  |  | Accrued liabilities |  | $ | 9 |  |  |
Foreign currency derivatives* | Other current assets |  | 16 |  |  | Other current assets |  | 3 |  |  | 13 |
Foreign currency derivatives* | Accrued liabilities |  | 3 |  |  | Accrued liabilities |  | 10 |  |  | (7 | )
Commodity derivatives | Other long-term assets |  | 1 |  |  | Other long-term liabilities |  | 2 |  |  |
Foreign currency derivatives* | Other long-term assets |  | 5 |  |  | Other long-term assets |  | 1 |  |  | 4 |
Foreign currency derivatives* | Other long-term liabilities |  | 2 |  |  | Other long-term liabilities |  | 6 |  |  | (4 | )
Total |  |  | $ | 29 |  |  |  |  | $ | 31 |  |  |
Derivatives not designated:
Foreign currency derivatives* | Other current assets |  | $ | 3 |  |  | Other current assets |  | $ | 3 |  |  | — |
Total |  |  | $ | 3 |  |  |  |  | $ | 3 |  |  |
* Derivative instruments within this category are subject to master netting arrangements and are presented on a net basis in the consolidated balance sheets in accordance with accounting guidance related to the offsetting of amounts related to certain contracts.
Schedule of Derivative Instruments, Gain (Loss) in Statement of Financial Performance | The effect of derivative financial instruments in the consolidated statement of operations and consolidated statement of comprehensive income for the three months ended September 30, 2014 is as follows:
Three Months Ended September 30, 2014 | Loss Recognized in OCI (Effective Portion) |  | Loss Reclassified from OCI into Income (Effective Portion) |  | Gain Recognized in Income (Ineffective Portion Excluded from Effectiveness Testing)
| (in millions)
Designated derivatives instruments: |  |  |  |  |
Commodity derivatives | $ | (13 | ) |  | $ | (3 | ) |  | $ | — |
Foreign currency derivatives | (25 | ) |  | (1 | ) |  | — |
Total | $ | (38 | ) |  | $ | (4 | ) |  | $ | — |
| Gain Recognized in Income
| (in millions)
Derivatives not designated: |
Commodity derivatives | $ | — |
Foreign currency derivatives (1) | 22 |
Total | $ | 22 |
(1) | Primarily relates to amounts recognized in other income, which offset the losses recognized due to the remeasurement of intercompany loans.
The effect of derivative financial instruments in the consolidated statement of operations and consolidated statement of comprehensive income for the three months ended September 30, 2013 is as follows:
Three Months Ended September 30, 2013 | Gain (Loss) Recognized in OCI (Effective Portion) |  | Loss Reclassified from OCI into Income (Effective Portion) |  | Gain Recognized in Income (Ineffective Portion Excluded from Effectiveness Testing)
| (in millions)
Designated derivatives instruments: |  |  |  |  |
Commodity derivatives | $ | 24 |  |  | $ | (8 | ) |  | $ | — |
Foreign currency derivatives | (10 | ) |  | (3 | ) |  | — |
Total | $ | 14 |  |  | $ | (11 | ) |  | $ | — |
| Gain Recognized in Income
| (in millions)
Derivatives not designated: |
Commodity derivatives | $ | — |
Foreign currency derivatives | 1 |
Total | $ | 1 |
The effect of derivative financial instruments in the consolidated statement of operations and consolidated statement of comprehensive income for the nine months ended September 30, 2014 is as follows:
Nine Months Ended September 30, 2014 | Loss Recognized in OCI (Effective Portion) |  | (Loss) Gain Reclassified from OCI into Income (Effective Portion) |  | Gain Recognized in Income (Ineffective Portion Excluded from Effectiveness Testing)
| (in millions)
Designated derivatives instruments: |  |  |  |  |
Commodity derivatives | $ | (19 | ) |  | $ | (13 | ) |  | $ | — |
Foreign currency derivatives | (13 | ) |  | 7 |  |  | — |
Total | $ | (32 | ) |  | $ | (6 | ) |  | $ | — |
| Gain Recognized in Income
| (in millions)
Derivatives not designated: |
Commodity derivatives | $ | — |
Foreign currency derivatives (1) | 22 |
Total | $ | 22 |
(1) | Primarily relates to amounts recognized in other income, which offset the losses recognized due to the remeasurement of intercompany loans.
The effect of derivative financial instruments in the consolidated statement of operations and consolidated statement of comprehensive income for the nine months ended September 30, 2013 is as follows:
Nine Months Ended September 30, 2013 | Loss Recognized in OCI (Effective Portion) |  | (Loss) Gain Reclassified from OCI into Income (Effective Portion) |  | Gain Recognized in Income (Ineffective Portion Excluded from Effectiveness Testing)
| (in millions)
Designated derivatives instruments: |  |  |  |  |
Commodity derivatives | $ | (31 | ) |  | $ | (17 | ) |  | $ | — |
Foreign currency derivatives | (7 | ) |  | 16 |  |  | — |
Total | $ | (38 | ) |  | $ | (1 | ) |  | $ | — |
| Gain Recognized in Income
| (in millions)
Derivatives not designated: |
Commodity derivatives | $ | — |
Foreign currency derivatives | 1 |
Total | $ | 1 |

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- Definition Tabular disclosure of the location and amount of derivative instruments and nonderivative instruments designated as hedging instruments reported before netting adjustments, and the amount of gain (loss) on derivative instruments and nonderivative instruments designated and qualified as hedging instruments. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4A -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=35706170&loc=SL5618551-113959 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4C -URI http://asc.fasb.org/extlink&oid=35706170&loc=SL5624171-113959 + Details
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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=35706170&loc=SL5624163-113959 + Details
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- Definition Tabular disclosure of the notional amounts of outstanding derivative positions. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 1A -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=35706170&loc=SL5579245-113959 + Details
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