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Derivative Instruments (Tables) | 6 Months Ended
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Jun. 30, 2018
Derivatives and Hedges |
Effect of the foreign exchange contracts not designated as hedging instruments on the results of operations | The effect of the foreign exchange derivative contracts on the results of operations for the three and six months ended June 30, 2018 and June 30, 2017 is as follows:
|  | Amount of Gain (Loss) |
Location of Gain (Loss) |  | Recognized in Income on |
Recognized in Income on |  | Foreign Exchange Contracts |
Foreign Exchange Contracts |  | 2018 |  | 2017 |
Other expense, net |  | $ | — |  | $ | 4 |
|  | Amount of Gain |
Location of Gain |  | Recognized in Income on |
Recognized in Income on |  | Foreign Exchange Contracts |
Foreign Exchange Contracts |  | 2018 |  | 2017 |
Other expense |  | $ | — |  | $ | 6 |
Schedule of selected information relating to fair value swaps |
| Amount Hedged |  |  | Receive Rate |  |  | Average Spread |
Senior Notes due 2024 | € | 725 |  |  | 3.125 | % |  |  | 2.6 | % |
Balance Sheet Classification of derivative instruments |
|  | Fair Value |  |
|  | Current Balance |  | June 30, |  |  | December 31, |  |  | June 30, |  |
|  | Sheet Location |  | 2018 |  |  | 2017 |  |  | 2017 |  |
Asset Derivatives: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Derivatives designated as hedging instruments: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commodity futures contracts |  | b |  | $ | 7 |  |  | $ | 3 |  |  | $ | — |  |
Interest rate swaps designated as fair value hedges |  | a |  |  | 6 |  |  |  | 6 |  |  |  |  |  |
Hedges of multiple risks designated as cash flow hedges |  | a |  |  | 5 |  |  |  | 4 |  |  |  |  |  |
Derivatives not designated as hedging instruments: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Foreign exchange derivative contracts |  | a |  |  | 2 |  |  |  | 4 |  |  |  | 2 |  |
Total asset derivatives |  |  |  | $ | 20 |  |  | $ | 17 |  |  | $ | 2 |  |
Liability Derivatives: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Derivatives designated as hedging instruments: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commodity futures contracts |  | c |  | $ | — |  |  | $ | — |  |  | $ | 1 |  |
Interest rate swaps designated as fair value hedges |  | d |  |  | 8 |  |  |  | 13 |  |  |  |  |  |
Hedges of multiple risks designated as cash flow hedges |  | d |  |  | 12 |  |  |  | 10 |  |  |  | 3 |  |
Derivatives not designated as hedging instruments: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Foreign exchange derivative contracts |  | c |  |  | 2 |  |  |  | 1 |  |  |  | 3 |  |
Total liability derivatives |  |  |  | $ | 22 |  |  | $ | 24 |  |  | $ | 7 |  |
Commodity forwards contracts |
Derivatives and Hedges |
Effect of derivative on the results of operations | The effect of the commodity forward contracts on the results of operations for the three months ended June 30, 2018 and June 30, 2017 is as follows:
|  | Amount of gain (loss) Reclassified from |
Amount of gain (loss) Recognized in OCI on |  | Accumulated OCI into Income |
Commodity Forward Contracts |  | (reported in cost of goods sold) |
(Effective Portion) |  | (Effective Portion) |
2018 |  | 2017 |  | 2018 |  | 2017 |
$ |  | 4 |  | $ | (2) |  | $ | — |  | $ | — |
The effect of the commodity forward contracts on the results of operations for the six months ended June 30, 2018 and June 30, 2017 is as follows:
|  | Amount of Gain (Loss) Reclassified from |
Amount of Gain Recognized in OCI on |  | Accumulated OCI into Income |
Commodity Forward Contracts |  | (reported in cost of goods sold) |
(Effective Portion) |  | (Effective Portion) |
2018 |  | 2017 |  | 2018 |  | 2017 |
$ |  | 5 |  | $ | 4 |  | $ | (1) |  | $ | — |
Cross-currency interest rate swap |
Derivatives and Hedges |
Effect of derivative on the results of operations | The effect of the cross-currency interest rate swaps on the results of operations for the three months ended June 30, 2018 is as follows:
|  | Amount of gain (loss) Reclassified from
Amount of gain (loss) Recognized in OCI on |  | Accumulated OCI into Income
Hedges of Multiple Risks |  | (reported in Other expense, net)
(Effective Portion) |  | (Effective Portion)
$ |  | 14 |  | $ | 18
The effect of the cross-currency interest rate swaps on the results of operations for the six months ended June 30, 2018 is as follows:
|  | Amount of gain (loss) Reclassified from
Amount of gain (loss) Recognized in OCI on |  | Accumulated OCI into Income
Hedges of Multiple Risks |  | (reported in Other expense, net)
(Effective Portion) |  | (Effective Portion)
$ |  | 1 |  | $ | 10

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