XML 68 R49.htm IDEA: XBRL DOCUMENT
v3.8.0.1

Financial Instruments (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2017
Investments, All Other Investments [Abstract] |
Notional Amounts of Derivatives |
Notional Amounts | Successor | Predecessor
(In millions) | December 31, 2017 | December 31, 2016
Derivatives designated as hedging instruments: |  |
Commodity contracts | $ | 587 |  | $ | 422 |
Derivatives not designated as hedging instruments: |  |  |  |
Foreign currency contracts | 10,454 |  | 9,896 |
Commodity contracts | 6 |  | 7 |
After-Tax Effect of Cash Flow Hedges Included in Accumulated Other Comprehensive Income (Loss) |
| Successor | Predecessor
(In millions) | For the Period September 1 - December 31, 2017 | For the Period Jan. 1 - August 31, 2017 | Year Ended December 31, 2016
Beginning balance | $ | — |  | $ | 7 |  | $ | (24 | )
Additions and revaluations of derivatives designated as cash flow hedges | (2 | ) | 3 |  | 20 |
Clearance of hedge results to earnings | — |  | (13 | ) | 11 |
Ending balance | $ | (2 | ) | $ | (3 | ) | $ | 7 |
Fair Value of Derivatives Instruments |
|  | Successor
|  | December 31, 2017
(In millions) | Balance Sheet Location | Gross | Counterparty and Cash Collateral Netting 1 | Net Amounts Included in the Condensed Consolidated Balance Sheet
Asset derivatives: |  |  |  |
Derivatives not designated as hedging instruments: |  |  |  |  |
Foreign currency contracts | Other current assets | $ | 46 |  | $ | (37 | ) | $ | 9 |
Total asset derivatives |  | $ | 46 |  | $ | (37 | ) | $ | 9 |
Liability derivatives: |  |  |  |  |
Derivatives not designated as hedging instruments: |  |  |  |  |  |
Foreign currency contracts | Accrued and other current liabilities | $ | 79 |  | $ | (32 | ) | $ | 47 |
Total liability derivatives |  | $ | 79 |  | $ | (32 | ) | $ | 47 |
1. | Counterparty and cash collateral amounts represent the estimated net settlement amount when applying netting and set-off rights included in master netting arrangements between the company and its counterparties and the payable or receivable for cash collateral held or placed with the same counterparty. The company held cash collateral of $5 million as of December 31, 2017.
|  | Predecessor
(In millions) | Balance Sheet Location | December 31, 2016
Asset derivatives: |  |
Derivatives not designated as hedging instruments: |  |
Foreign currency contracts 1 | Accounts and notes receivable - net | $ | 182 |
Total asset derivatives 2 |  | $ | 182 |
Cash collateral 1 | Accrued and other current liabilities | $ | 52 |
Liability derivatives: |  |
Derivatives not designated as hedging instruments: |  |  |
Foreign currency contracts | Accrued and other current liabilities | $ | 121 |
Total liability derivatives 2 |  | $ | 121 |
1. | Cash collateral held as of December 31, 2016 is related to foreign currency derivatives not designated as hedging instruments.
2. | The company's derivative assets and liabilities subject to enforceable master netting arrangements totaled $114 million at December 31, 2016.
Effect of Derivative Instruments |
| Amount of Gain (Loss) Recognized in OCI 1 (Effective Portion) - Pre Tax
| Successor | Predecessor
(In millions) | For the Period September 1 - December 31, 2017 | For the Period Jan. 1 - August 31, 2017 | Year Ended December 31, 2016 | Year Ended December 31, 2015
Derivatives designated as hedging instruments: |  |  |  |
Cash flow hedges: |  |  |  |  |  |  |  |
Foreign currency contracts | $ | — |  | — |  | — |  | (2 | )
Commodity contracts | 3 |  | 5 |  | 32 |  | (35 | )
Total derivatives designated as hedging instruments | $ | 3 |  | $ | 5 |  | $ | 32 |  | $ | (37 | )
Total derivatives | $ | 3 |  | $ | 5 |  | $ | 32 |  | $ | (37 | )
1. | OCI is defined as other comprehensive income (loss).
| Amount of Gain (Loss) Recognized in Income - Pre Tax 1
| Successor | Predecessor
(In millions) | For the Period September 1 - December 31, 2017 | For the Period Jan. 1 - August 31, 2017 | Year Ended December 31, 2016 | Year Ended December 31, 2015
Derivatives designated as hedging instruments: |  |  |  |
Fair value hedges: |  |  |  |
Interest rate swaps 2 | $ | — |  | $ | — |  | $ | — |  | $ | (1 | )
Cash flow hedges: |  |  |  |  |  |  |  |
Foreign currency contracts 3 | — |  | — |  | — |  | 10 |
Commodity contracts 2 | — |  | 21 |  | (18 | ) | (22 | )
Total derivatives designated as hedging instruments | $ | — |  | $ | 21 |  | $ | (18 | ) | $ | (13 | )
Derivatives not designated as hedging instruments: |  |  |  |
Foreign currency contracts 4 | 91 |  | (431 | ) | (304 | ) | 434 |
Foreign currency contracts 3 | — |  | — |  | (12 | ) | (3 | )
Commodity contracts 2 | — |  | 2 |  | (11 | ) | (2 | )
Total derivatives not designated as hedging instruments | 91 |  | (429 | ) | (327 | ) | 429 |
Total derivatives | $ | 91 |  | $ | (408 | ) | $ | (345 | ) | $ | 416 |
1. | For cash flow hedges, this represents the effective portion of the gain (loss) reclassified from accumulated OCI into income during the period. There was no material ineffectiveness with regard to the company's cash flow hedges during the period.
2. | Recorded in cost of goods sold.
3. | Recorded in net sales.
4. | Gain recognized in sundry income - net was partially offset by the related gain on the foreign currency-denominated monetary assets and liabilities of the company's operations. See Note 6 for additional information.

X
- References No definition available. + Details
Name: | us-gaap_InvestmentsAllOtherInvestmentsAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the effective portion of gains and losses on derivative instruments (and nonderivative instruments) designated and qualifying in cash flow hedges recorded in accumulated other comprehensive income (loss) during the term of the hedging relationship and reclassified into earnings during the current period. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4C -Subparagraph (c) -URI http://asc.fasb.org/extlink&oid=84234895&loc=SL5624171-113959 + Details
Name: | us-gaap_ScheduleOfCashFlowHedgesIncludedInAccumulatedOtherComprehensiveIncomeLossTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the location and amount of derivative instruments and nonderivative instruments designated as hedging instruments reported before netting adjustments, and the amount of gain (loss) on derivative instruments and nonderivative instruments designated and qualified as hedging instruments. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4C -URI http://asc.fasb.org/extlink&oid=84234895&loc=SL5624171-113959 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4A -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=84234895&loc=SL5618551-113959 + Details
Name: | us-gaap_ScheduleOfDerivativeInstrumentsGainLossInStatementOfFinancialPerformanceTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- 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://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4A -URI http://asc.fasb.org/extlink&oid=84234895&loc=SL5618551-113959 + Details
Name: | us-gaap_ScheduleOfDerivativesInstrumentsStatementsOfFinancialPerformanceAndFinancialPositionLocationTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the notional amounts of outstanding derivative positions. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 1A -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=84234895&loc=SL5579245-113959 + Details
Name: | us-gaap_ScheduleOfNotionalAmountsOfOutstandingDerivativePositionsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration