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Fair Value Measurements (Tables)

12 Months Ended

Dec. 31, 2017

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

Assets measured at fair value on a recurring basis



	December 31, 2017																December 31, 2016
	Level 1				Level 2				Level 3				Total				Level 1				Level 2				Level 3				Total
Assets	(in millions)
Investments (Note 4)	$	9,378			$	264			$	279			$	9,921			$	9,033			$	306			$	212			$	9,551
Derivative contracts, at fair value (Note 6)⁽¹⁾	—				1				—				1				—				23				—				23
	$	9,378			$	265			$	279			$	9,922			$	9,033			$	329			$	212			$	9,574
Liabilities
Securities sold, not yet purchased (Note 4)	$	988			$	35			$	—			$	1,023			$	1,087			$	52			$	—			$	1,139
Other liabilities	—				1				—				1				—				187				—				187
Derivative contracts, at fair value (Note 6)	36				1,239				—				1,275				—				1,139				—				1,139
	$	1,024			$	1,275			$	—			$	2,299			$	1,087			$	1,378			$	—			$	2,465


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

Assets measured at fair value on a recurring basis for which we use Level 3 inputs to determine fair value



	Year Ended December 31,
	2017				2016
	(in millions)
Balance at January 1	$	212			$	283
Net realized gains	—				16
Net unrealized gains	67				(6		)
Purchases	5				50
Transfers out	(6		)		(135		)
Transfers in	1				4
Balance at December 31	$	279			$	212

Automotive Segment

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

Defined benefit plan assets measured at fair value



	December 31, 2017																December 31, 2016
	Level 1				Level 2				Level 3				Total				Level 1				Level 2				Level 3				Total
	(in millions)
U.S. Plans:
Cash	$	35			$	—			$	—			$	35			$	30			$	—			$	—			$	30
Investments with registered investment companies:
Equity securities	393				—				—				393				346				—				—				346
Fixed income securities	163				—				—				163				154				—				—				154
Real estate and other	46				—				—				46				41				—				—				41
Equity securities	223				—				—				223				204				—				—				204
Debt securities:
Corporate and other	—				22				—				22				—				21				—				21
Government	11				21				—				32				11				17				—				28
Hedge funds	—				—				29				29				—				—				32				32
	$	871			$	43			$	29			$	943			$	786			$	38			$	32			$	856
Non-U.S. Plans:
Insurance contracts	$	—			$	—			$	54			$	54			$	—			$	—			$	42			$	42
Investments with registered investment companies:
Fixed income securities	25				—				—				25				19				—				—				19
Equity securities	2				—				—				2				2				—				—				2
Corporate bonds	—				—				—				—				—				—				—				—
	$	27			$	—			$	54			$	81			$	21			$	—			$	42			$	63

Plan assets measured at fair value for which we use level 3 inputs to determine fair value



	Year Ended December 31,
	2017				2016
	(in millions)
U.S. Plans:
Hedge funds:
Balance at January 1	$	32			$	86
Net realized and unrealized gains	3				—
Purchases and settlements, net	12				48
Sales, net	(18		)		(102		)
Balance at December 31	$	29			$	32



	Year Ended December 31,
	2017				2016
	(in millions)
Non-U.S. Plans:
Insurance contracts:
Balance at January 1	$	42			$	40
Net realized and unrealized gains	2				2
Purchases and settlements, net	6				3
Proceeds	(2		)		(2		)
Foreign currency exchange rate movements	6				(1		)
Balance at December 31	$	54			$	42

Railcar and Food Packaging

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

Defined benefit plan assets measured at fair value



	December 31, 2017																December 31, 2016
	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	$	4			$	1			$	—			$	5			$	4			$	1			$	—			$	5
Equity securities	79				3				—				82				77				3				—				80
Fixed income securities	26				3				—				29				25				2				—				27
Other⁽¹⁾	6				—				—				6				5				—				—				5
	$	115			$	7			$	—			$	122			$	111			$	6			$	—			$	117


⁽¹⁾	Excludes hedge fund plan assets measured at fair value using net asset value per share in the amount of $9 million and $9 million as of December 31, 2017 and 2016, respectively.