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DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES (Tables)

12 Months Ended

Dec. 31, 2013

DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES

Schedule of pre-tax gains (losses) included in the Company's consolidated statements of operations

The pre-tax gains (losses) included in the Company's consolidated statements of operations are as follows, in millions:

		Twelve Months Ended December 31,
		2013			2012			2011
Foreign Currency Contracts
Exchange Contracts		$	2		$	(2	)	$	3
Forward Contracts			1			—			3
Metals Contracts			(7	)		2			(7	)
​	​	​	​	​	​	​	​	​	​	​
Total gains (losses)		$	(4	)	$	—		$	(1	)
​	​	​	​	​	​	​	​	​	​	​
​	​	​	​	​	​	​	​	​	​	​

Schedule of notional amounts being hedged and the fair value of derivative instruments, on a gross basis

The notional amounts being hedged and the fair value of those derivative instruments, on a gross basis, is as follows, in millions:

		At December 31, 2013
		Notional Amount			Assets			Liabilities
Foreign Currency Contracts
Exchange Contracts		$	53
Current liabilities					$	—		$	2
Forward Contracts			88
Current liabilities						—			1
Metals Contracts			48
Current liabilities						—			2
​	​	​	​	​	​	​	​	​	​	​
Total					$	—		$	5
​	​	​	​	​	​	​	​	​	​	​
​	​	​	​	​	​	​	​	​	​	​

		At December 31, 2012
		Notional Amount			Assets			Liabilities
Foreign Currency Contracts
Exchange Contracts		$	172
Current liabilities					$	—		$	5
Forward Contracts			76
Current assets						1			1
Metals Contracts			35
Current liabilities						1			2
​	​	​	​	​	​	​	​	​	​	​
Total					$	2		$	8
​	​	​	​	​	​	​	​	​	​	​
​	​	​	​	​	​	​	​	​	​	​

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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=7476318&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=7476318&loc=SL5624171-113959

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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=7476318&loc=SL5624163-113959

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