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Investments (Tables) | 12 Months Ended
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Dec. 31, 2013
Investments Debt And Equity Securities [Abstract] |
Company's Investment in ABCP | The following is a continuity of the Company’s investment in ABCP:
|  | 2013 |  |  | 2012 |  |  | 2011 |
Balance, beginning of year |  | $ | 90 |  |  | $ | 82 |  |  | $ | 84 |
Valuation adjustment [i] |  |  | 8 |  |  |  | 15 |  |  |  | 0 |
Cash receipts |  |  | 0 |  |  |  | (9 | ) |  |  | 0 |
Foreign exchange and other |  |  | (6 | ) |  |  | 2 |  |  |  | (2 | )
|  | $ | 92 |  |  | $ | 90 |  |  | $ | 82 |
[i] | The carrying value of this investment was based on a valuation technique estimating the fair value from the perspective of a market participant. During the year ended December 31, 2013, the Company recorded an $8 million [2012 - $15 million] increase in the carrying value of its investment in ABCP in selling, general and administrative expense, due to a reduction of the spread between the anticipated return on the restructured notes and current market indices.
Company's Combined Proportionate Share of Major Components of Financial Statements |
[b] | The Company’s net income includes the proportionate share of net income or loss of its equity method investees. When a proportionate share of net income is recorded, it increases equity income in the consolidated statements of income and the carrying value of those investments. Conversely, when a proportionate share of a net loss is recorded, it decreases equity income in the consolidated statements of income and the carrying value of those investments. The following is the Company’s combined proportionate share of the major components of the financial statements of the entities in which the Company accounts for using the equity method:
Balance Sheets
|  | 2013 |  |  | 2012 |
Current assets |  | $ | 373 |  |  | $ | 344 |
Long-term assets |  | $ | 82 |  |  | $ | 74 |
Current liabilities |  | $ | 167 |  |  | $ | 150 |
Long-term liabilities |  | $ | 76 |  |  | $ | 60 |
Statements of Income
|  | 2013 |  |  | 2012 |  |  | 2011 |
Sales |  | $ | 1,013 |  |  | $ | 967 |  |  | $ | 881 |
Cost of goods sold, expenses and income taxes |  |  | 839 |  |  |  | 814 |  |  |  | 805 |
Net income |  | $ | 174 |  |  | $ | 153 |  |  | $ | 76 |

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- Definition Tabular disclosure of equity method investments including, but not limited to, name of each investee or group of investments, percentage ownership, difference between recorded amount of an investment and the value of the underlying equity in the net assets, and summarized financial information. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 323 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6382943&loc=d3e33918-111571 + Details
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