Derivatives And Hedging Activities (Tables)

As of December 31, 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	71,108	pounds	$	150



Foreign Currency	Quantity Hedged	Unit of Measure	Notional Amount (Approximate USD Equivalent)
	(in millions)
Mexican Peso	9,219	MXN	$	530
Polish Zloty	261	PLN	65
New Turkish Lira	181	TRY	60
Chinese Yuan Renminbi	404	CNY	60
Hungarian Forint	13,288	HUF	45

The fair value of derivative financial instruments recorded in the consolidated balance sheets as of December 31, 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	December 31, 2015		Balance Sheet Location	December 31, 2015		December 31, 2015
	(in millions)
Designated derivatives instruments:
Commodity derivatives	Other current assets	$	—	Accrued liabilities	$	39
Foreign currency derivatives*	Accrued liabilities	3		Accrued liabilities	69		(66	)
Commodity derivatives	Other long-term assets	—		Other long-term liabilities	10
Foreign currency derivatives*	Other long-term liabilities	1		Other long-term liabilities	12		(11	)
Total		$	4		$	130
Derivatives not designated:
Commodity derivatives	Other current assets	$	—	Accrued liabilities	$	2
Foreign currency derivatives*	Accrued liabilities	2		Accrued liabilities	3		(1	)
Foreign currency derivatives*	Other long-term liabilities	1		Other long-term liabilities	1		—
Total		$	3		$	6



	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 year ended December 31, 2015 is as follows:



Year Ended December 31, 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	$	(69	)	$	(42	)	$	—
Foreign currency derivatives	(79		)	(71		)	—
Total	$	(148	)	$	(113	)	$	—



	Loss Recognized in Income
	(in millions)
Derivatives not designated:
Commodity derivatives	$	(3	)
Foreign currency derivatives	(20		)
Total	$	(23	)



Year Ended December 31, 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	$	(38	)	$	(17	)	$	—
Foreign currency derivatives	(86		)	4			1
Total	$	(124	)	$	(13	)	$	1



	Gain Recognized in Income
	(in millions)
Derivatives not designated:
Commodity derivatives	$	—
Foreign currency derivatives (1)	21
Total	$	21