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Derivative Financial Instruments (Tables)

3 Months Ended

Mar. 31, 2022

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Fair Value of Derivatives Outstanding

The following table is a summary of the fair value of derivatives outstanding at March 31, 2022 and December 31, 2021:

			Fair Value
			March 31, 2022												December 31, 2021
			Assets(a)						Accrued Liabilities						Assets(a)						Accrued Liabilities
Derivatives Designated as Cash Flow Hedges
Currency Contracts			$	22					$	—					$	3					$	1
Interest Rate Swaps			$	3					$	—					$	—					$	25
Natural Gas Hedges			$	3					$	—					$	1					$	—
Total Hedges			$	28					$	—					$	4					$	26
Derivatives Not Designated as Cash Flow Hedges
Currency Contracts			$	5					$	—					$	—					$	—
Total Derivatives			$	33					$	—					$	4					$	26

(a) At March 31, 2022 and December 31, 2021, current assets of $33 million and $4 million, respectively, are recorded in prepaid and other current assets on the Condensed Consolidated Balance Sheets.

Schedule of Derivatives Instruments Impact on Statement of Operation

The following table summarizes the impact of the Company's derivatives on the unaudited Condensed Consolidated Statement of Income:

			Amount of Pre-Tax Gain (Loss) Recognized in Earnings																		Amount of Pre-Tax Gain (Loss) Recognized in Earnings
			Revenue						Cost of Goods Sold						Other Expense, net						Revenue						Cost of Goods Sold						Other Expense, net
			Three Months Ended March 31, 2022																		Three Months Ended March 31, 2021
Derivatives Not Designated as Hedging Instruments
Currency Contracts			$	—					$	—					$	7					$	—					$	—					$	1
Derivatives Designated as Hedging Instruments
Currency Contracts			$	3					$	9					$	—					$	—					$	3					$	—
Natural Gas Hedges			$	—					$	1					$	—					$	—					$	—					$	—
Total Derivatives			$	3					$	10					$	7					$	—					$	3					$	1

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- References

No definition available.

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- Definition

Tabular disclosure of the location and fair value amounts of derivative instruments (and nonderivative instruments that are designated and qualify as hedging instruments) reported in the statement of financial position.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4B
-URI http://asc.fasb.org/extlink&oid=125515794&loc=SL5624163-113959

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- Definition

Tabular disclosure of derivative instruments (including nonderivative instruments that are designated and qualify as hedging instruments) of (a) the location and amount of gains and losses reported in the statement of financial performance and (b) the location and fair value amounts of the instruments reported in the statement of financial position.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4A
-URI http://asc.fasb.org/extlink&oid=125515794&loc=SL5618551-113959

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