XML 41 R27.htm IDEA: XBRL DOCUMENT
v3.19.1

Financial Instruments, Derivatives and Hedging Activities (Tables) | 3 Months Ended
--- | ---
Mar. 31, 2019
Financial Instruments, Derivatives and Hedging Activities |
Schedule of location and amount of assets and liabilities reported in balance sheet |
|  | Fair value of hedging instruments as of March 31, 2019 |
|  | Designated Hedging Instruments (in millions) |  | Non-Designated Hedging Instruments (in millions) |
Balance Sheet Location |  |  | Commodity Contracts |  |  | Foreign Currency Contracts |  |  | Interest Rate Contracts |  | Total |  |  | Commodity Contracts |  |  | Foreign Currency Contracts |  |  | Interest Rate Contracts |  | Total |
Accounts receivable, net |  | $ | 2 |  | $ | 2 |  | $ | — |  | $ | 4 |  | $ | — |  | $ | 7 |  | $ | — |  | $ | 7 |
Other assets |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 1 |  |  | — |  |  | 1 |
Assets |  |  | 2 |  |  | 2 |  |  | — |  |  | 4 |  |  | — |  |  | 8 |  |  | — |  |  | 8 |
Accounts payable and accrued liabilities |  |  | 12 |  |  | — |  |  | — |  |  | 12 |  |  | 4 |  |  | 7 |  |  | — |  |  | 11 |
Non-current liabilities |  |  | 3 |  |  | — |  |  | — |  |  | 3 |  |  | — |  |  | 3 |  |  | — |  |  | 3 |
Liabilities |  |  | 15 |  |  | — |  |  | — |  |  | 15 |  |  | 4 |  |  | 10 |  |  | — |  |  | 14 |
Net Assets/(Liabilities) |  | $ | (13) |  | $ | 2 |  | $ | — |  | $ | (11) |  | $ | (4) |  | $ | (2) |  | $ | — |  | $ | (6) |
|  | Fair value of hedging instruments as of December 31, 2018 |
|  | Designated Hedging Instruments (in millions) |  | Non-Designated Hedging Instruments (in millions) |
Balance Sheet Location |  |  | Commodity Contracts |  |  | Foreign Currency Contracts |  |  | Interest Rate Contracts |  | Total |  |  | Commodity Contracts |  |  | Foreign Currency Contracts |  |  | Interest Rate Contracts |  | Total |
Accounts receivable, net |  | $ | 5 |  | $ | 1 |  | $ | — |  | $ | 6 |  | $ | — |  | $ | 16 |  | $ | — |  | $ | 16 |
Other assets |  |  | 1 |  |  | — |  |  | — |  |  | 1 |  |  | — |  |  | 1 |  |  | — |  |  | 1 |
Assets |  |  | 6 |  |  | 1 |  |  | — |  |  | 7 |  |  | — |  |  | 17 |  |  | — |  |  | 17 |
Accounts payable and accrued liabilities |  |  | 6 |  |  | — |  |  | — |  |  | 6 |  |  | 3 |  |  | 9 |  |  | — |  |  | 12 |
Non-current liabilities |  |  | 3 |  |  | — |  |  | 1 |  |  | 4 |  |  | — |  |  | 4 |  |  | — |  |  | 4 |
Liabilities |  |  | 9 |  |  | — |  |  | 1 |  |  | 10 |  |  | 3 |  |  | 13 |  |  | — |  |  | 16 |
Net Assets/(Liabilities) |  | $ | (3) |  | $ | 1 |  | $ | (1) |  | $ | (3) |  | $ | (3) |  | $ | 4 |  | $ | — |  | $ | 1 |
Schedule of fair value hedges |
Line item in the statement of financial position in which the hedged item is included (in millions) |  | Carrying Amount of the Hedged Assets/(Liabilities) |  | Cumulative Amount of Fair Value Hedging Adjustment Included in the Carrying Amount of Hedged Assets/(Liabilities) |
Balance sheet date as of |  | March 31, 2019 |  | December 31, 2018 |  | March 31, 2019 |  | December 31, 2018 |
Interest Rate Contracts: |  |  |  |  |  |  |  |  |  |  |  |  |
Long-Term Debt |  | $ | (200) |  | $ | (199) |  | $ | — |  | $ | 1 |
Schedule of amount of gains and losses recognized in OCI and location and amount of gains and losses reported in income statement |
|  |  |  |  |  |  |  | Location of Gains |  |  |  |  |  |  |
|  | Amount of Gains (Losses) |  | (Losses) |  | Amount of Gains (Losses) |
Derivatives in Cash-Flow |  | Recognized in OCI |  | Reclassified from |  | Reclassified from AOCI into Income |
Hedging Relationships |  | Three Months Ended March 31, |  | AOCI |  | Three Months Ended March 31, |
(in millions, pre-tax) |  | 2019 |  | 2018 |  | into Income |  | 2019 |  | 2018 |
Commodity contracts |  | $ | (10) |  | $ | 20 |  | Cost of sales |  | $ | 2 |  | $ | (5) |
Foreign currency contracts |  |  | (2) |  |  | 2 |  | Net sales/Cost of sales |  |  | (3) |  |  | 1 |
Interest rate contracts |  |  | — |  |  | — |  | Financing costs, net |  |  | (1) |  |  | — |
Total |  | $ | (12) |  | $ | 22 |  |  |  | $ | (2) |  | $ | (4) |
Schedule of location and amount of gain (loss) recognized in income |
|  | For the three months ended March 31, 2019 |
Location and Amount of Gain or (Loss) Recognized in Income on Fair Value and Cash Flow Hedging Relationships (in millions, pre-tax) |  | Net sales before shipping and handling costs |  |  | Cost of Sales |  |  | Financing costs, net |
Income (expense) reported in earnings |  | $ | 1,536 |  | $ | (1,104) |  | $ | (22) |
Gains or (losses) on fair value hedging relationships: |  |  |  |  |  |  |  |  |  |
Interest Rate Contracts: |  |  |  |  |  |  |  |  |  |
Hedged Items |  | $ | — |  | $ | — |  | $ | — |
Derivatives designated as hedging instruments |  |  | — |  |  | — |  |  | — |
Gains or (losses) on cash flow hedging relationships: |  |  |  |  |  |  |  |  |  |
Commodity Contracts: |  |  |  |  |  |  |  |  |  |
Gain/(loss) reclassified from other comprehensive income into earnings |  | $ | — |  | $ | 2 |  | $ | — |
Foreign Exchange Contracts: |  |  |  |  |  |  |  |  |  |
Gain/(loss) reclassified from other comprehensive income into earnings |  |  | (3) |  |  | — |  |  | — |
Interest Rate Contracts: |  |  |  |  |  |  |  |  |  |
Gain/(loss) reclassified from other comprehensive income into earnings |  |  | — |  |  | — |  |  | (1) |
|  | For the three months ended March 31, 2018 |
Location and Amount of Gain or (Loss) Recognized in Income on Fair Value and Cash Flow Hedging Relationships (in millions, pre-tax) |  | Net sales before shipping and handling costs |  |  | Cost of Sales |  |  | Financing costs, net |
Income (expense) reported in earnings |  | $ | 1,581 |  | $ | (1,115) |  | $ | (16) |
Gains or (losses) on fair value hedging relationships: |  |  |  |  |  |  |  |  |  |
Interest Rate Contracts: |  |  |  |  |  |  |  |  |  |
Hedged Items |  | $ | — |  | $ | — |  | $ | (2) |
Derivatives designated as hedging instruments |  |  | — |  |  | — |  |  | 2 |
Gains or (losses) on cash flow hedging relationships: |  |  |  |  |  |  |  |  |  |
Commodity Contracts: |  |  |  |  |  |  |  |  |  |
Gain/(loss) reclassified from other comprehensive income into earnings |  | $ | — |  | $ | (5) |  | $ | — |
Foreign Exchange Contracts: |  |  |  |  |  |  |  |  |  |
Gain/(loss) reclassified from other comprehensive income into earnings |  |  | 1 |  |  | — |  |  | — |
Interest Rate Contracts: |  |  |  |  |  |  |  |  |  |
Gain/(loss) reclassified from other comprehensive income into earnings |  |  | — |  |  | — |  |  | — |
Schedule of fair value of financial instruments and derivatives |
|  | As of March 31, 2019 |  | As of December 31, 2018 |
(in millions) |  | Total |  | Level 1 (a) |  | Level 2 (b) |  | Level 3 (c) |  | Total |  | Level 1 (a) |  | Level 2 (b) |  | Level 3 (c) |
Available for sale securities |  | $ | 10 |  | $ | 10 |  | $ | — |  | $ | — |  | $ | 11 |  | $ | 11 |  | $ | — |  | $ | — |
Derivative assets |  |  | 12 |  |  | 1 |  |  | 11 |  |  | — |  |  | 24 |  |  | 4 |  |  | 20 |  |  | — |
Derivative liabilities |  |  | 29 |  |  | 14 |  |  | 15 |  |  | — |  |  | 26 |  |  | 6 |  |  | 20 |  |  | — |
Long-term debt |  |  | 1,969 |  |  | — |  |  | 1,969 |  |  | — |  |  | 1,954 |  |  | — |  |  | 1,954 |  |  | — |
| (a) |  | Level 1 inputs consist of quoted prices (unadjusted) in active markets for identical assets or liabilities.
| (b) |  | Level 2 inputs are inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly, for substantially the full term of the financial instrument. Level 2 inputs are based on quoted prices for similar assets or liabilities in active markets, quoted prices for identical or similar assets or liabilities in markets that are not active, or inputs other than quoted prices that are observable for the asset or liability or can be derived principally from or corroborated by observable market data.
| (c) |  | Level 3 inputs are unobservable inputs for the asset or liability. Unobservable inputs shall be used to measure fair value to the extent that observable inputs are not available, thereby allowing for situations in which there is little, if any, market activity for the asset or liability at the measurement date.

X
- References No definition available. + Details
Name: | us-gaap_DerivativeInstrumentsAndHedgingActivitiesDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- 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/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 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4A -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=109980867&loc=SL5618551-113959 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4C -URI http://asc.fasb.org/extlink&oid=109980867&loc=SL5624171-113959 + Details
Name: | us-gaap_ScheduleOfDerivativeInstrumentsGainLossInStatementOfFinancialPerformanceTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- 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://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4B -URI http://asc.fasb.org/extlink&oid=109980867&loc=SL5624163-113959 + Details
Name: | us-gaap_ScheduleOfDerivativeInstrumentsInStatementOfFinancialPositionFairValueTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of derivative instruments (including nonderivative instruments that are designated and qualify as hedging instruments) of (a) the location and amount of gains and losses reported in the statement of financial performance and (b) the location and fair value amounts of the instruments reported in the statement of financial position. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4A -URI http://asc.fasb.org/extlink&oid=109980867&loc=SL5618551-113959 + Details
Name: | us-gaap_ScheduleOfDerivativesInstrumentsStatementsOfFinancialPerformanceAndFinancialPositionLocationTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=99377789&loc=d3e19190-110258 + Details
Name: | us-gaap_ScheduleOfFairValueAssetsAndLiabilitiesMeasuredOnRecurringBasisTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure for fair value hedging instruments of (a) the location and amount of gains and losses reported in the statement of financial performance and (b) the location and fair value amounts of the instruments reported in the statement of financial position. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4C -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=109980867&loc=SL5624171-113959 + Details
Name: | us-gaap_ScheduleOfFairValueHedgingInstrumentsStatementsOfFinancialPerformanceAndFinancialPositionLocationTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration