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Fair Value Measurements and Derivatives | 3 Months Ended
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Mar. 31, 2012
Fair Value Measurements and Derivatives | Note 11. Fair Value Measurements and Derivatives In measuring the fair value of our assets and liabilities, we use market data or assumptions that we believe market participants would use in pricing an asset or liability including assumptions about risk when appropriate. Our valuation techniques include a combination of observable and unobservable inputs. Fair value measurements on a recurring basis — Assets and liabilities that are carried in our balance sheet at fair value are as follows:
|  |  |  |  | Fair Value Measurements Using |
|  |  |  |  | Quoted |  |  |  |  |  |  |
|  |  |  |  | Prices in |  |  | Significant |  |  | Significant |
|  |  |  |  | Active |  |  | Inputs |  |  | Inputs |
|  |  |  |  | Markets |  |  | Observable |  |  | Unobservable |
March 31, 2012 |  | Total |  |  | (Level 1) |  |  | (Level 2) |  |  | (Level 3) |
Notes receivable - noncurrent asset |  | $ | 119 |  |  | $ | - |  |  | $ | - |  |  | $ | 119 |
Marketable securities - current asset |  |  | 58 |  |  |  | 37 |  |  |  | 21 |  |  |  |  |
Currency forward contracts - current asset |  |  | 2 |  |  |  |  |  |  |  | 2 |  |  |  |  |
Currency forward contracts - current liability |  |  | 4 |  |  |  |  |  |  |  | 4 |  |  |  |  |
December 31, 2011 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Notes receivable - noncurrent asset |  | $ | 116 |  |  | $ | - |  |  | $ | - |  |  | $ | 116 |
Marketable securities - current asset |  |  | 56 |  |  |  | 33 |  |  |  | 23 |  |  |  |  |
Currency forward contracts - current asset |  |  | 1 |  |  |  |  |  |  |  | 1 |  |  |  |  |
Currency forward contracts - current liability |  |  | 16 |  |  |  |  |  |  |  | 16 |  |  |  |  |
Foreign currency derivatives — The total notional amounts of outstanding foreign currency forward contracts as of March 31, 2012 and December 31, 2011 were $177 and $213 comprised of currency forward contracts involving the exchange of various currencies. The following currency forward contracts were outstanding at March 31, 2012 and are primarily associated with forecasted transactions involving the purchases and sales of inventory through the next twelve months:
|  |  |  | Notional Amount (U.S. Dollar Equivalent) |  |  |  |  |  |  |
Functional Currency |  | Traded Currency |  | Designated as Cash Flow Hedges |  |  | Undesignated |  |  | Total |  |  | Maturity |  |  |  |
U.S. dollar |  | Mexican peso |  | $ | 90 |  |  | $ | - |  |  | $ | 90 |  |  |  | Mar-13 |  |  |  |  |
Euro |  | U.S. dollar, Canadian dollar, Hungarian forint, Japanese yen |  |  | 26 |  |  |  | 5 |  |  |  | 31 |  |  |  | Dec-12 |  |  |  |  |
British pound |  | U.S. dollar, Euro |  |  | 13 |  |  |  |  |  |  |  | 13 |  |  |  | Dec-12 |  |  |  |  |
Swedish krona |  | Euro |  |  | 12 |  |  |  |  |  |  |  | 12 |  |  |  | Dec-12 |  |  |  |  |
Australian dollar |  | U.S. dollar |  |  | 8 |  |  |  |  |  |  |  | 8 |  |  |  | Dec-12 |  |  |  |  |
Indian rupee |  | U.S. dollar, British pound, Euro |  |  |  |  |  |  | 16 |  |  |  | 16 |  |  |  | Dec-12 |  |  |  |  |
Other |  | Various |  |  | 6 |  |  |  | 1 |  |  |  | 7 |  |  |  | Dec-12 |  |  |  |  |
Total forward contracts |  |  |  | $ | 155 |  |  | $ | 22 |  |  | $ | 177 |  |  |  |  |  |  |  |  |
Cash flow hedges — With respect to contracts designated as cash flow hedges, changes in fair value during the period in which the contracts remain outstanding are reported in other comprehensive income (OCI) to the extent such contracts remain effective. Changes in fair value of those contracts that are not designated as cash flow hedges are reported in income in the period in which the changes occur. Forward contracts associated with product-related transactions are marked to market in cost of sales while other contracts are marked to market through other income, net. Amounts recorded in OCI are ultimately reclassified to earnings in the same periods in which the underlying transactions affect earnings. Amounts to be reclassified to earnings — Deferred losses of $3 at March 31, 2012, which are reported in AOCI, are expected to be reclassified to earnings during the next twelve months. Amounts expected to be reclassified to earnings assume no change in the current hedge relationships or to March 31, 2012 market rates. Deferred losses at December 31, 2011 were $13, of which $2 was reclassified from AOCI to earnings in the first quarter of 2012. The remainder of the reduction of deferred losses in AOCI was primarily attributable to the weakening of the U.S. dollar against the Mexican peso during the first quarter of 2012. Changes in Level 3 recurring fair value measurements —
|  | Three Months Ended |
|  | March 31, |
Notes receivable |  | 2012 |  |  | 2011 |
Beginning of period |  | $ | 116 |  |  | $ | 103 |
Accretion of value (interest income) |  |  | 4 |  |  |  | 3 |
Other |  |  | (1 | ) |  |  |  |
End of period |  | $ | 119 |  |  | $ | 106 |
Fair value measurements on a nonrecurring basis — In addition to items that are measured at fair value on a recurring basis, we also have long-lived assets that may be measured at fair value on a nonrecurring basis. These assets include intangible assets and property, plant and equipment which may be written down to fair value as a result of impairment.

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- Definition The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 16 -URI http://asc.fasb.org/extlink&oid=7491637&loc=d3e13504-108611 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 107 -Paragraph 15C, 15D -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 133 -Paragraph 44A, 44B -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 107 -Paragraph 15A -Subparagraph a-d -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 107 -Paragraph 3, 10, 14, 15 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 10 -URI http://asc.fasb.org/extlink&oid=7491637&loc=d3e13433-108611 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 159 -Paragraph 17-22, 27, 28 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 21 -URI http://asc.fasb.org/extlink&oid=7491637&loc=d3e13537-108611 Reference 9: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 107 -Paragraph 15B -Subparagraph a, b -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 10: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 157 -Paragraph 32, 33, 34 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 11: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=7578670&loc=d3e19207-110258 Reference 12: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 28 -URI http://asc.fasb.org/extlink&oid=6957238&loc=d3e14064-108612 Reference 13: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 30 -URI http://asc.fasb.org/extlink&oid=6957238&loc=d3e14172-108612 + Details
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