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Financing Arrangements and Derivative Financial Instruments (Tables) | 6 Months Ended
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Jun. 30, 2019
Financing Arrangements and Derivative Financial Instruments [Abstract] |
Notes Payable and Overdrafts, Long Term Debt and Capital Leases Due Within One Year | The following table presents amounts due within one year:
| June 30, |  | December 31,
(In millions) | 2019 |  | 2018
Chinese credit facilities | $ | 151 |  |  | $ | 122 |
Other domestic and foreign debt | 329 |  |  | 288 |
Notes Payable and Overdrafts | $ | 480 |  |  | $ | 410 |
Weighted average interest rate | 8.26 | % |  | 8.03 | %
Chinese credit facilities | $ | 78 |  |  | $ | 32 |
Mexican credit facilities | 90 |  |  | — |
Other foreign and domestic debt (including finance leases) | 323 |  |  | 211 |
Long Term Debt and Finance Leases due Within One Year | $ | 491 |  |  | $ | 243 |
Weighted average interest rate | 4.09 | % |  | 4.57 | %
Total obligations due within one year | $ | 971 |  |  | $ | 653 |
Long Term Debt and Capital Leases, Net | The following table presents long term debt and finance leases, net of unamortized discounts, and interest rates:
| June 30, 2019 |  | December 31, 2018
|  |  | Interest |  |  |  | Interest
(In millions) | Amount |  | Rate |  | Amount |  | Rate
Notes: |  |  |  |  |  |  |
8.75% due 2020 | $ | 279 |  |  |  |  | $ | 278 |  |  |
5.125% due 2023 | 1,000 |  |  |  |  | 1,000 |  |  |
3.75% Euro Notes due 2023 | 285 |  |  |  |  | 286 |  |  |
5% due 2026 | 900 |  |  |  |  | 900 |  |  |
4.875% due 2027 | 700 |  |  |  |  | 700 |  |  |
7% due 2028 | 150 |  |  |  |  | 150 |  |  |
Credit Facilities: |  |  |  |  |  |  |
First lien revolving credit facility due 2021 | 430 |  |  | 3.63 | % |  | — |  |  | — |
Second lien term loan facility due 2025 | 400 |  |  | 4.40 | % |  | 400 |  |  | 4.46 | %
European revolving credit facility due 2024 | 220 |  |  | 3.90 | % |  | — |  |  | — |
Pan-European accounts receivable facility | 266 |  |  | 1.05 | % |  | 335 |  |  | 1.01 | %
Mexican credit facilities | 290 |  |  | 4.06 | % |  | 200 |  |  | 4.30 | %
Chinese credit facilities | 210 |  |  | 4.88 | % |  | 219 |  |  | 5.03 | %
Other foreign and domestic debt(1) | 910 |  |  | 4.30 | % |  | 884 |  |  | 5.35 | %
| 6,040 |  |  |  |  | 5,352 |  |  |
Unamortized deferred financing fees | (31 | ) |  |  |  | (36 | ) |  |
| 6,009 |  |  |  |  | 5,316 |  |  |
Finance lease obligations(2) | 248 |  |  |  |  | 37 |  |  |
| 6,257 |  |  |  |  | 5,353 |  |  |
Less portion due within one year | (491 | ) |  |  |  | (243 | ) |  |
| $ | 5,766 |  |  |  |  | $ | 5,110 |  |  |
(1) | Interest rates are weighted average interest rates related to various foreign credit facilities with customary terms and conditions.
(2) Includes finance lease obligations related to our Global and Americas Headquarters at June 30, 2019.
Fair Values for Foreign Currency Contracts Not Designated as Hedging Instruments | The following table presents the fair values for foreign currency hedge contracts that do not meet the criteria to be accounted for as cash flow hedging instruments:
| June 30, |  | December 31,
(In millions) | 2019 |  | 2018
Fair Values — Current asset (liability): |  |  |
Accounts receivable | $ | 5 |  |  | $ | 7 |
Other current liabilities | (15 | ) |  | (6 | )
Fair Values for Foreign Currency Contracts Designated as Cash Flow Hedging Instruments | The following table presents the fair values for foreign currency hedge contracts that meet the criteria to be accounted for as cash flow hedging instruments:
| June 30, |  | December 31,
(In millions) | 2019 |  | 2018
Fair Values — Current asset (liability): |  |  |
Accounts receivable | $ | 9 |  |  | $ | 9 |
Other current liabilities | (1 | ) |  | (1 | )
Fair Values — Long term asset (liability): |  |  |
Other assets | $ | 1 |  |  | $ | 2 |
Other long term liabilities | — |  |  | — |
Information Related to Foreign Currency Contracts Designated as Cash Flow Hedging Instruments | The following table presents the classification of changes in fair values of foreign currency hedge contracts that meet the criteria to be accounted for as cash flow hedging instruments (before tax and minority):
| Three Months Ended |  | Six Months Ended
| June 30, |  | June 30,
(In millions) (Income) Expense | 2019 |  | 2018 |  | 2019 |  | 2018
Amounts deferred to AOCL(1) | $ | 1 |  |  | $ | (14 | ) |  | $ | (4 | ) |  | $ | (8 | )
Amount of deferred (gain) loss reclassified from AOCL into Cost of Goods Sold ("CGS")(1) | (3 | ) |  | 3 |  |  | (6 | ) |  | 7 |
(1) Excluded components deferred to AOCL and excluded components reclassified from AOCL to CGS for the three and six months ended June 30, 2019 were not material.

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