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Accrued Liabilities (Tables)
3 Months Ended
Mar. 31, 2015
Payables and Accruals [Abstract]  
Accrued Liabilities

Accrued liabilities consist of (in millions):

 

     March 31,
2015
     December 31,
2014
 

Accrued vendor costs

   $ 886       $ 815   

Customer prepayments and billings

     614         703   

Fair value of derivative financial instruments

     420         297   

Compensation

     353         662   

Warranty

     284         272   

Taxes (non-income)

     159         211   

Insurance

     132         126   

Accrued commissions

     102         97   

Interest

     30         11   

Other

     320         324   
  

 

 

    

 

 

 

Total

$ 3,300    $ 3,518   
  

 

 

    

 

 

 
Changes in Carrying Amount of Service and Product Warranties

The changes in the carrying amount of service and product warranties are as follows (in millions):

 

Balance at December 31, 2014

$ 272   
  

 

 

 

Net provisions for warranties issued during the year

  27   

Amounts incurred

  (13

Currency translation adjustments and other

  (2
  

 

 

 

Balance at March 31, 2015

$ 284