Derivatives And Hedging Activities (Tables)

As of June 30, 2015, 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	89,364	pounds	$	235



Foreign Currency	Quantity Hedged	Unit of Measure	Notional Amount (Approximate USD Equivalent)

	(in millions)
Mexican Peso	9,757	MXN	$	625
Chinese Yuan Renminbi	527	CNY	85
New Turkish Lira	208	TRY	80
Polish Zloty	188	PLN	50
Hungarian Forint	13,136	HUF	45
Brazilian Real	52	BRL	15

The fair value of derivative financial instruments recorded in the consolidated balance sheets as of June 30, 2015 and December 31, 2014 are as follows:



	Asset Derivatives			Liability Derivatives			Net Amounts of Assets and (Liabilities) Presented in the Balance Sheet
	Balance Sheet Location	June 30, 2015		Balance Sheet Location	June 30, 2015		June 30, 2015

	(in millions)
Designated derivatives instruments:
Commodity derivatives	Other current assets	$	—	Accrued liabilities	$	22
Foreign currency derivatives*	Accrued liabilities	4		Accrued liabilities	62		(58	)
Commodity derivatives	Other long-term assets	—		Other long-term liabilities	7
Foreign currency derivatives*	Other long-term liabilities	1		Other long-term liabilities	23		(22	)
Total		$	5		$	114
Derivatives not designated:
Commodity derivatives	Other current assets	$	—	Accrued liabilities	$	2
Foreign currency derivatives*	Accrued liabilities	1		Accrued liabilities	4		(3	)
Commodity derivatives	Other long-term assets	—		Other long-term liabilities	1
Foreign currency derivatives*	Other long-term liabilities	—		Other long-term liabilities	1		(1	)
Total		$	1		$	8



	Asset Derivatives			Liability Derivatives			Net Amounts of Assets and (Liabilities) Presented in the Balance Sheet
	Balance Sheet Location	December 31, 2014		Balance Sheet Location	December 31, 2014		December 31, 2014

	(in millions)
Designated derivatives instruments:
Commodity derivatives	Other current assets	$	—	Accrued liabilities	$	19
Foreign currency derivatives*	Accrued liabilities	3		Accrued liabilities	48		(45	)
Commodity derivatives	Other long-term assets	—		Other long-term liabilities	8
Foreign currency derivatives*	Other long-term liabilities	2		Other long-term liabilities	34		(32	)
Total		$	5		$	109
Derivatives not designated:
Foreign currency derivatives*	Accrued liabilities	$	1	Accrued liabilities	$	1	—
Total		$	1		$	1

* 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.

The pre-tax effect of derivative financial instruments in the consolidated statement of operations and consolidated statement of comprehensive income for the three months ended June 30, 2015 is as follows:



Three Months Ended June 30, 2015	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	$	(11	)	$	(8	)	$	—
Foreign currency derivatives	(21		)	(18		)	—
Total	$	(32	)	$	(26	)	$	—



	Loss Recognized in Income

	(in millions)
Derivatives not designated:
Commodity derivatives	$	(3	)
Foreign currency derivatives	(4		)
Total	$	(7	)



Three Months Ended June 30, 2014	Gain 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	$	(6	)	$	—
Foreign currency derivatives	28		4			—
Total	$	47	$	(2	)	$	—



	Loss Recognized in Income

	(in millions)
Derivatives not designated:
Commodity derivatives	$	—
Foreign currency derivatives	(1		)
Total	$	(1	)

The pre-tax effect of derivative financial instruments in the consolidated statement of operations and consolidated statement of comprehensive income for the six months ended June 30, 2015 is as follows:



Six Months Ended June 30, 2015	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	$	(25	)	$	(18	)	$	—
Foreign currency derivatives	(39		)	(32		)	—
Total	$	(64	)	$	(50	)	$	—



	Loss Recognized in Income

	(in millions)
Derivatives not designated:
Commodity derivatives	$	(3	)
Foreign currency derivatives	(5		)
Total	$	(8	)



Six Months Ended June 30, 2014	(Loss) Gain 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	$	(6	)	$	(10	)	$	—
Foreign currency derivatives	12			8			—
Total	$	6		$	(2	)	$	—



	Gain Recognized in Income

	(in millions)
Derivatives not designated:
Commodity derivatives	$	—
Foreign currency derivatives	—
Total	$	—