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Accrued Liabilities | 6 Months Ended
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Jun. 30, 2015
Payables and Accruals [Abstract] |
Accrued Liabilities |
4. |  | Accrued Liabilities
Accrued liabilities consist of (in millions):
|  | June 30, 2015 |  |  | December 31, 2014 |
Accrued vendor costs |  | $ | 880 |  |  | $ | 815 |
Customer prepayments and billings |  |  | 566 |  |  |  | 703 |
Compensation |  |  | 331 |  |  |  | 662 |
Fair value of derivative financial instruments |  |  | 290 |  |  |  | 297 |
Warranty |  |  | 261 |  |  |  | 272 |
Taxes (non-income) |  |  | 158 |  |  |  | 211 |
Insurance |  |  | 115 |  |  |  | 126 |
Accrued commissions |  |  | 87 |  |  |  | 97 |
Interest |  |  | 11 |  |  |  | 11 |
Other |  |  | 329 |  |  |  | 324 |
Total |  | $ | 3,028 |  |  | $ | 3,518 |
Service and Product Warranties The Company provides service and warranty policies on certain of its products. The Company accrues liabilities under service and warranty policies based upon specific claims and a review of historical warranty and service claim experience in accordance with Accounting Standards Codification (“ASC”) Topic 450 “Contingencies”. Adjustments are made to accruals as claim data and historical experience change. In addition, the Company incurs discretionary costs to service its products in connection with product performance issues and accrues for them when they are encountered. 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 |  |  | 39 |
Amounts incurred |  |  | (48 | )
Currency translation adjustments and other |  |  | (2 | )
Balance at June 30, 2015 |  | $ | 261 |

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- Definition The entire disclosure for accounts payable and accrued liabilities at the end of the reporting period. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.19(a),20,24) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 + Details
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- References No definition available. + Details
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