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Financial Instruments (Tables)
12 Months Ended
Dec. 31, 2020
Derivative Instruments And Hedging Activities Disclosure [Abstract]  
Schedule of Derivative Assets and Liabilities At Fair Value

The following table sets forth the fair value of the Company’s derivative assets and liabilities at December 31, 2020 and 2019.

 

 

 

 

 

Fair Value Using Level 2 Inputs

 

 

 

Balance Sheet Location

 

December 31, 2020

 

 

December 31, 2019

 

Asset derivatives:

 

 

 

 

 

 

 

 

 

 

Foreign currency forward contracts

not designated as a hedging instrument

 

Accounts and notes receivable, net (Note 11)

 

$

4

 

 

$

1

 

Foreign currency forward contracts

designated as a cash flow hedge

 

Accounts and notes receivable, net (Note 11)

 

 

 

 

 

1

 

Total asset derivatives

 

 

 

$

4

 

 

$

2

 

 

 

 

 

 

 

 

 

 

 

 

Liability derivatives:

 

 

 

 

 

 

 

 

 

 

Foreign currency forward contracts

not designated as a hedging instrument

 

Other accrued liabilities (Note 19)

 

$

1

 

 

$

1

 

Foreign currency forward contracts

designated as a cash flow hedge

 

Other accrued liabilities (Note 19)

 

 

4

 

 

 

 

Interest rate swaps

designated as a cash flow hedge

 

Other accrued liabilities (Note 19)

 

 

3

 

 

 

 

Total liability derivatives

 

 

 

$

8

 

 

$

1

 

Schedule of Pre-tax Charge Fair Value of Financial Instruments

The following table sets forth the pre-tax changes in fair value of the Company’s financial instruments for the years ended December 31, 2020, 2019, and 2018.

 

 

 

Gain (Loss) Recognized In

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Accumulated Other

 

 

 

Cost of

 

 

Interest

 

 

Other Income

 

 

Comprehensive

 

Year Ended December 31,

 

Goods Sold

 

 

Expense, Net

 

 

(Expense), Net

 

 

Loss

 

2020

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Foreign currency forward contracts not designated as a hedging instrument

 

$

 

 

$

 

 

$

29

 

 

$

 

Foreign currency forward contracts designated as a cash flow hedge

 

 

3

 

 

 

 

 

 

 

 

 

(4

)

Interest rate swaps designated as a cash flow hedge

 

 

 

 

 

 

 

 

 

 

 

(4

)

Euro-denominated debt designated as a net investment hedge

 

 

 

 

 

 

 

 

 

 

 

(88

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2019

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Foreign currency forward contracts not designated as a hedging instrument

 

$

 

 

$

 

 

$

(2

)

 

$

 

Foreign currency forward contracts designated as a cash flow hedge

 

 

10

 

 

 

 

 

 

 

 

 

6

 

Euro-denominated debt designated as a net investment hedge

 

 

 

 

 

 

 

 

 

 

 

20

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2018

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Foreign currency forward contracts not designated as a hedging instrument

 

$

 

 

$

 

 

$

3

 

 

$

 

Foreign currency forward contracts designated as a cash flow hedge

 

 

4

 

 

 

 

 

 

 

 

 

10

 

Euro-denominated debt designated as a net investment hedge

 

 

 

 

 

 

 

 

 

 

 

32