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Accrued Liabilities (Tables)
3 Months Ended
Mar. 31, 2016
Payables and Accruals [Abstract]  
Accrued Liabilities

Accrued liabilities consist of (in millions):

 

     March 31,
2016
     December 31,
2015
 

Accrued vendor costs

   $ 432       $ 449   

Customer prepayments and billings

     389         426   

Compensation

     249         241   

Warranty

     226         244   

Fair value of derivative financial instruments

     132         261   

Taxes (non-income)

     127         175   

Insurance

     115         113   

Accrued commissions

     68         73   

Interest

     29         8   

Other

     291         294   
  

 

 

    

 

 

 

Total

   $ 2,058       $ 2,284   
  

 

 

    

 

 

 
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, 2015

   $ 244   
  

 

 

 

Net provisions for warranties issued during the year

     18   

Amounts incurred

     (37

Currency translation adjustments and other

     1   
  

 

 

 

Balance at March 31, 2016

   $ 226