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Fair Value Measurements (Tables)

12 Months Ended

Dec. 31, 2014

Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]

Schedule of Fair Value Measurements, Nonrecurring

Assets measured at fair value on a nonrecurring basis during the years ended December 31, 2014 and 2013 are set forth in the table below:

		December 31, 2014								December 31, 2013
		Level 3				Recognized				Level 3				Recognized
Category		Asset				Loss				Asset				Loss
		(in millions)
Property, plant and equipment		$	53			$	27			$	74			$	16
Equity method investments		10				5				—				—
Goodwill		827				103				—				—

Investment Segment [Member]

Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]

Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis

Investment

The following table summarizes the valuation of the Investment Funds' investments and derivative contracts by the above fair value hierarchy levels as of December 31, 2014 and 2013:

	December 31, 2014																December 31, 2013
	Level 1				Level 2				Level 3				Total				Level 1				Level 2				Level 3				Total
Assets	(in millions)
Investments:
Equity securities:
Communications	$	2,846			$	—			$	—			$	2,846			$	820			$	—			$	—			$	820
Consumer, non-cyclical	2,308				—				—				2,308				3,344				178				—				3,522
Consumer, cyclical	436				—				—				436				414				—				—				414
Diversified	23				—				—				23				29				—				—				29
Energy	1,895				—				—				1,895				3,050				—				—				3,050
Financial	417				—				—				417				300				—				—				300
Funds	—				—				—				—				—				6				—				6
Industrial	79				20				—				99				—				—				—				—
Technology	5,635				—				—				5,635				3,173				—				—				3,173
	13,639				20				—				13,659				11,130				184				—				11,314
Corporate debt:
Consumer, cyclical	—				—				75				75				—				—				287				287
Energy	—				19				—				19				—				—				—				—
Financial	—				7				—				7				—				11				—				11
Sovereign debt	—				—				—				—				—				5				—				5
Utilities	—				28				—				28				—				29				—				29
	—				54				75				129				—				45				287				332
Mortgage-backed securities:
Financial	—				173				—				173				—				180				—				180
	13,639				247				75				13,961				11,130				409				287				11,826
Derivative contracts, at fair value(1)	—				3				—				3				—				—				—				—
	$	13,639			$	250			$	75			$	13,964			$	11,130			$	409			$	287			$	11,826
Liabilities
Securities sold, not yet purchased, at fair value:
Equity securities:
Consumer, non-cyclical	$	—			$	—			$	—			$	—			$	44			$	—			$	—			$	44
Consumer, cyclical	334				—				—				334				787				—				—				787
Financial	—				—				—				—				45				—				—				45
Funds	—				—				—				—				—				8				—				8
	334				—				—				334				876				8				—				884
Debt securities:
Energy	—				3				—				3				—				—				—				—
	334				3				—				337				876				8				—				884
Derivative contracts, at fair value(2)	—				614				—				614				—				639				—				639
	$	334			$	617			$	—			$	951			$	876			$	647			$	—			$	1,523

⁽¹⁾  Included in other assets in our consolidated balance sheets.

⁽²⁾  Included in accrued expenses and other liabilities in our consolidated balance sheets.

Schedule of investments measured at fair value with Level 3 Input

The changes in investments measured at fair value for which our Investment segment has used Level 3 input to determine fair value are as follows:

	Year Ended December 31,
	2014				2013
	(in millions)
Balance at January 1	$	287			$	288
Gross realized and unrealized (losses) gains	(100		)		4
Gross proceeds	(2		)		(5		)
Distribution-in-kind	(110		)		—
Balance at December 31	$	75			$	287

Other Segments and Holding Company [Member]

Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]

Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis

Other Segments and Holding Company

The following table summarizes the valuation of our Automotive and Energy segments and our Holding Company investments and derivative contracts by the above fair value hierarchy levels as of December 31, 2014 and 2013:

	December 31, 2014																December 31, 2013
	Level 1				Level 2				Level 3				Total				Level 1				Level 2				Level 3				Total
Assets	(in millions)
Marketable equity and debt securities	$	75			$	3			$	75			$	153			$	1			$	—			$	—			$	1
Trading securities	—				—				55				55				—				—				116				116
Derivative contracts, at fair value(1)	—				47				—				47				—				1				—				1
	$	75			$	50			$	130			$	255			$	1			$	1			$	116			$	118
Liabilities
Other liabilities	$	—			$	50			$	—			$	50			$	—			$	16			$	—			$	16
Derivative contracts, at fair value(2)	—				2				—				2				—				35				—				35
	$	—			$	52			$	—			$	52			$	—			$	51			$	—			$	51

⁽¹⁾  Amounts are classified within other assets in our consolidated balance sheets.

⁽²⁾  Amounts are classified within accrued expenses and other liabilities in our consolidated balance sheets.

Holding Company [Member]

Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]

Schedule of investments measured at fair value with Level 3 Input

The changes in trading securities measured at fair value for which our Holding Company have used Level 3 input to determine fair value are as follows:

	Year Ended December 31,
	2014				2013
	(in millions)
Balance at January 1	$	116			$	81
Purchases	—				67
Distribution-in-kind	110				—
Gross realized and unrealized losses	(96		)		(32		)
Balance at December 31	$	130			$	116

Automotive Segment [Member]

Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]

Schedule of fair value of defined benefit plan asset [Table Text Block]

The following table presents our Automotive segment's defined benefit plan assets measured at fair value on a recurring basis as of December 31, 2014 and 2013:

	December 31, 2014																December 31, 2013
	Level 1				Level 2				Level 3				Total				Level 1				Level 2				Level 3				Total
	(in millions)
U.S. Plans:
Cash	$	44			$	—			$	—			$	44			$	33			$	—			$	—			$	33
Investments with registered investment companies:
Equity securities	314				—				—				314				347				—				—				347
Fixed income securities	166				—				—				166				135				—				—				135
Real estate and other	25				—				—				25				23				—				—				23
Equity securities	231				—				—				231				242				—				—				242
Fixed income collective trust	—				—				—				—				—				—				—				—
Debt securities:
Corporate and other	—				21				—				21				—				22				—				22
Government	16				4				—				20				14				8				—				22
Hedge funds	—				—				91				91				—				—				85				85
	$	796			$	25			$	91			$	912			$	794			$	30			$	85			$	909
Non-U.S. Plans:
Insurance contracts	$	—			$	—			$	41			$	41			$	—			$	—			$	44			$	44
Investments with registered investment companies:
Fixed income securities	10				—				—				10				7				—				—				7
Equity securities	1				—				—				1				2				—				—				2
Corporate bonds	—				2				—				2				—				2				—				2
	$	11			$	2			$	41			$	54			$	9			$	2			$	44			$	55

Schedule of Level Three Defined Benefit Plan Assets Roll Forward [Table Text Block]

The changes in U.S. and Non-U.S. plan assets measured at fair value for which our Automotive segment has used Level 3 input to determine fair value are as follows:

	Year Ended December 31,
	2014				2013
	(in millions)
U.S. Plans:
Hedge funds:
Balance at January 1	$	85			$	14
Realized/unrealized gains (losses), net	6				11
Purchases and settlements, net	47				83
Sales, net	(47		)		(23		)
Balance at December 31	$	91			$	85

	Year Ended December 31,
	2014				2013
	(in millions)
Non-U.S. Plans:
Insurance contracts:
Balance at January 1	$	44			$	42
Realized and unrealized gains, net	2				1
Purchases and settlements, net	6				6
Proceeds	(5		)		(6		)
Foreign currency exchange rate movements	(6		)		1
Balance at December 31	$	41			$	44

Railcar and Food Packaging [Member]

Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]

Schedule of fair value of defined benefit plan asset [Table Text Block]

The following table presents our Food Packaging and Railcar segment's defined benefit plan assets measured at fair value on a recurring basis as of December 31, 2014 and 2013:

	December 31, 2014																December 31, 2013
	Level 1				Level 2				Level 3				Total				Level 1				Level 2				Level 3				Total
	(in millions)
U.S. and Non-U.S. Plans:
Asset category:
Cash equivalents	$	5			$	1			$	—			$	6			$	4			$	1			$	—			$	5
Equity securities	55				28				—				83				66				15				—				81
Fixed income securities	22				1				—				23				21				1				—				22
Other	6				—				21				27				6				—				21				27
	$	88			$	30			$	21			$	139			$	97			$	17			$	21			$	135

Schedule of Level Three Defined Benefit Plan Assets Roll Forward [Table Text Block]

The changes in U.S. and Non-U.S. plan assets measured at fair value for which our Food Packaging and Railcar segments have used Level 3 input to determine fair value are as follows:

	Year Ended December 31,
	2014				2013
	(in millions)
U.S. and Non-U.S. Plans:
Balance at January 1	$	21			$	30
Realized and unrealized gains, net	1				3
Purchases and settlements, net	(1		)		(12		)
Balance at December 31	$	21			$	21

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Tabular disclosure of assets and liabilities by class, including financial instruments measured at fair value that are classified in shareholders' equity, if any, that are measured at fair value on a nonrecurring basis in periods after initial recognition (for example, impaired assets). Disclosures may include, but are not limited to: (a) the fair value measurements recorded and the reasons for the measurements and (b) the level within the fair value hierarchy in which the fair value measurements are categorized in their entirety (levels 1, 2, 3).

+ References

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-Publisher FASB

-Name Accounting Standards Codification

-Topic 820

-SubTopic 10

-Section 50

-Paragraph 5

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Tabular disclosure of the fair value measurement of assets using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes during the period attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets) and gains or losses recognized in other comprehensive income (loss), and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs), by class of asset.

+ References

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-Publisher FASB

-Name Accounting Standards Codification

-Topic 820

-SubTopic 10

-Section 50

-Paragraph 2

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Tabular disclosure of the effect of fair value measurements using significant unobservable inputs (Level 3) on changes in plan assets of pension plans and/or other employee benefit plans for the period.

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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).

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