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Financing Arrangements and Derivative Financial Instruments (Tables)
 9 Months Ended
Sep. 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:
 
September 30,
 
December 31,
(In millions)
2019
 
2018
Chinese credit facilities
$
140

 
$
122

Other domestic and foreign debt
346

 
288

Notes Payable and Overdrafts
$
486

 
$
410

Weighted average interest rate
7.06
%
 
8.03
%
 
 
 
 
Chinese credit facilities
$
99

 
$
32

8.75% note due 2020
280

 
—

Other foreign and domestic debt (including finance leases)
231

 
211

Long Term Debt and Finance Leases due Within One Year
$
610

 
$
243

Weighted average interest rate
6.43
%
 
4.57
%
Total obligations due within one year
$
1,096

 
$
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:
 
September 30, 2019
 
December 31, 2018
 
 
 
Interest
 
 
 
Interest
(In millions)
Amount
 
Rate
 
Amount
 
Rate
Notes:
 
 
 
 
 
 
 
8.75% due 2020
$
280

 
 
 
$
278

 
 
5.125% due 2023
1,000

 
 
 
1,000

 
 
3.75% Euro Notes due 2023
272

 
 
 
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
300

 
3.21
%
 
—

 
—

Second lien term loan facility due 2025
400

 
4.06
%
 
400

 
4.46
%
European revolving credit facility due 2024
356

 
3.39
%
 
—

 
—

Pan-European accounts receivable facility
306

 
0.96
%
 
335

 
1.01
%
Mexican credit facilities
200

 
4.02
%
 
200

 
4.30
%
Chinese credit facilities
202

 
4.87
%
 
219

 
5.03
%
Other foreign and domestic debt(1)
909

 
3.84
%
 
884

 
5.35
%
 
5,975

 
 
 
5,352

 
 
Unamortized deferred financing fees
(30
)
 
 
 
(36
)
 
 
 
5,945

 
 
 
5,316

 
 
Finance lease obligations(2)
245

 
 
 
37

 
 
 
6,190

 
 
 
5,353

 
 
Less portion due within one year
(610
)
 
 
 
(243
)
 
 
 
$
5,580

 
 
 
$
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 September 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:
 
September 30,
 
December 31,
(In millions)
2019
 
2018
Fair Values — Current asset (liability):
 
 
 
Accounts receivable
$
24

 
$
7

Other current liabilities
(3
)
 
(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:
 
September 30,
 
December 31,
(In millions)
2019
 
2018
Fair Values — Current asset (liability):
 
 
 
Accounts receivable
$
15

 
$
9

Other current liabilities
(1
)
 
(1
)
Fair Values — Long term asset (liability):
 
 
 
Other assets
$
4

 
$
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
 
Nine Months Ended
 
September 30,
 
September 30,
(In millions)
2019
 
2018
 
2019
 
2018
Amount of gains (losses) deferred to AOCL(1)
$
14

 
$
1

 
$
18

 
$
9

Reclassification adjustment for amounts recognized in Cost of Goods Sold ("CGS")(1)
 
(3
)
 
1

 
(9
)
 
8


(1)
Excluded components deferred to AOCL and excluded components reclassified from AOCL to CGS for the three and nine months ended September 30, 2019 were not material.