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Derivatives And Hedging Activities (Tables)

9 Months Ended

Sep. 30, 2018

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Notional Amounts of Outstanding Derivative Positions

As of September 30, 2018, the Company had the following outstanding notional amounts related to commodity and foreign currency forward and option contracts designated as cash flow hedges that were entered into to hedge forecasted exposures:

Commodity	Quantity Hedged			Unit of Measure		Notional Amount (Approximate USD Equivalent)
	(in thousands)					(in millions)
Copper	88,540			pounds		$	240

Foreign Currency	Quantity Hedged			Unit of Measure		Notional Amount (Approximate USD Equivalent)
	(in millions)
Mexican Peso	9,815			MXN		$	520
Chinese Yuan Renminbi	2,166			RMB		315
Polish Zloty	424			PLN		115
New Turkish Lira	83			TRY		15

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, 2018 and December 31, 2017 are as follows:

	Asset Derivatives						Liability Derivatives						Net Amounts of Assets and (Liabilities) Presented in the Balance Sheet
	Balance Sheet Location		September 30, 2018				Balance Sheet Location		September 30, 2018				September 30, 2018
	(in millions)
Derivatives designated as cash flow hedges:
Commodity derivatives	Other current assets		$	1			Accrued liabilities		$	8
Foreign currency derivatives*	Other current assets		16				Other current assets		4				$	12
Foreign currency derivatives*	Accrued liabilities		4				Accrued liabilities		5				(1		)
Commodity derivatives	Other long-term assets		—				Other long-term liabilities		5
Foreign currency derivatives*	Other long-term assets		8				Other long-term assets		1				7
Foreign currency derivatives*	Other long-term liabilities		—				Other long-term liabilities		1				(1		)
Derivatives designated as net investment hedges:
Foreign currency derivatives	Other current assets		4				Accrued liabilities		—
Total derivatives designated as hedges			$	33					$	24

	Asset Derivatives						Liability Derivatives						Net Amounts of Assets and (Liabilities) Presented in the Balance Sheet
	Balance Sheet Location		December 31, 2017				Balance Sheet Location		December 31, 2017				December 31, 2017
	(in millions)
Derivatives designated as cash flow hedges:
Commodity derivatives	Other current assets		$	27			Accrued liabilities		$	—
Foreign currency derivatives*	Other current assets		3				Other current assets		—				$	3
Foreign currency derivatives*	Accrued liabilities		7				Accrued liabilities		17				(10		)
Commodity derivatives	Other long-term assets		8				Other long-term liabilities		—
Foreign currency derivatives*	Other long-term liabilities		—				Other long-term liabilities		11				(11		)
Derivatives designated as net investment hedges:
Foreign currency derivatives	Other current assets		—				Accrued liabilities		5
Total derivatives designated as hedges			$	45					$	33

* 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 pre-tax effect of derivative financial instruments in the consolidated statement of operations and consolidated statement of comprehensive income for the three months ended September 30, 2018 is as follows:

Three Months Ended September 30, 2018	(Loss) Gain Recognized in OCI (Effective Portion)				Gain (Loss) Reclassified from OCI into Income (Effective Portion)				Gain Recognized in Income (Ineffective Portion Excluded from Effectiveness Testing)
	(in millions)
Derivatives designated as cash flow hedges:
Commodity derivatives	$	(14	)		$	1			$	—
Foreign currency derivatives	33				(2		)		—
Derivatives designated as net investment hedges:
Foreign currency derivatives	3				—				—
Total	$	22			$	(1	)		$	—

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

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 September 30, 2017 is as follows:

Three Months Ended September 30, 2017	Gain (Loss) Recognized in OCI (Effective Portion)				Gain Reclassified from OCI into Income (Effective Portion)				Gain Recognized in Income (Ineffective Portion Excluded from Effectiveness Testing)
	(in millions)
Derivatives designated as cash flow hedges:
Commodity derivatives	$	15			$	5			$	—
Foreign currency derivatives	(13		)		1				—
Derivatives designated as net investment hedges:
Foreign currency derivatives	(10		)		—				—
Total	$	(8	)		$	6			$	—

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

The pre-tax effect of derivative financial instruments in the consolidated statement of operations and consolidated statement of comprehensive income for the nine months ended September 30, 2018 is as follows:

Nine Months Ended September 30, 2018	(Loss) Gain Recognized in OCI (Effective Portion)				Gain (Loss) Reclassified from OCI into Income (Effective Portion)				Gain Recognized in Income (Ineffective Portion Excluded from Effectiveness Testing)
	(in millions)
Derivatives designated as cash flow hedges:
Commodity derivatives	$	(33	)		$	16			$	—
Foreign currency derivatives	30				(11		)		—
Derivatives designated as net investment hedges:
Foreign currency derivatives	(1		)		—				—
Total	$	(4	)		$	5			$	—

	Gain Recognized in Income
	(in millions)
Derivatives not designated:
Foreign currency derivatives	$	2
Total	$	2

The pre-tax effect of derivative financial instruments in the consolidated statement of operations and consolidated statement of comprehensive income for the nine months ended September 30, 2017 is as follows:

Nine Months Ended September 30, 2017	Gain (Loss) Recognized in OCI (Effective Portion)				Gain (Loss) Reclassified from OCI into Income (Effective Portion)				Gain Recognized in Income (Ineffective Portion Excluded from Effectiveness Testing)
	(in millions)
Derivatives designated as cash flow hedges:
Commodity derivatives	$	26			$	8			$	—
Foreign currency derivatives	41				(26		)		—
Derivatives designated as net investment hedges:
Foreign currency derivatives	(26		)		—				—
Total	$	41			$	(18	)		$	—

	Loss Recognized in Income
	(in millions)
Derivatives not designated:
Foreign currency derivatives	$	(5	)
Total	$	(5	)

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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/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4E
-URI http://asc.fasb.org/extlink&oid=109980867&loc=SL5624181-113959

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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.

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-SubTopic 10
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Tabular disclosure of the notional amounts of outstanding derivative positions.

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-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 1A
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