Derivatives And Hedging Activities (Tables)
 3 Months Ended
Mar. 31, 2015
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of Notional Amounts of Outstanding Derivative Positions
As of March 31, 2015, the Company had the following outstanding notional amounts related to commodity and foreign currency forward contracts that were entered into to hedge forecasted exposures:
Commodity
Quantity Hedged
 
Unit of Measure
 
Notional Amount
(Approximate USD Equivalent)
 
 
 
 
 
 
 
(in thousands)
 
(in millions)
Copper
111,038

 
pounds
 
$
300

Primary Aluminum
18,069

 
pounds
 
15

Foreign Currency
Quantity Hedged
 
Unit of Measure
 
Notional Amount
(Approximate USD Equivalent)
 
 
 
 
 
 
 
(in millions)
Mexican Peso
11,790

 
MXN
 
$
775

Polish Zloty
310

 
PLN
 
80

Chinese Yuan Renminbi
506

 
CNY
 
80

New Turkish Lira
183

 
TRY
 
70

Hungarian Forint
18,719

 
HUF
 
70

Brazilian Real
108

 
BRL
 
35
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value
The fair value of derivative financial instruments recorded in the consolidated balance sheets as of March 31, 2015 and December 31, 2014 are as follows:
 
Asset Derivatives
 
Liability Derivatives
 
Net Amounts of Assets and Liabilities Presented in the Balance Sheet
 
Balance Sheet Location
 
March 31,
2015
 
Balance Sheet Location
 
March 31,
2015
 
March 31,
2015
 
 
 
 
 
 
 
 
 
 
 
(in millions)
Designated derivatives instruments:
 
 
Commodity derivatives
Other current assets
 
$
—

 
Accrued liabilities
 
$
22

 
 
Foreign currency derivatives*
Other current assets
 
1

 
Other current assets
 
—

 
1

Foreign currency derivatives*
Accrued liabilities
 
9

 
Accrued liabilities
 
62

 
(53
)
Commodity derivatives
Other long-term assets
 
—

 
Other long-term liabilities
 
9

 
 
Foreign currency derivatives*
Other long-term assets
 
2

 
Other long-term assets
 
1

 
1

Foreign currency derivatives*
Other long-term liabilities
 
7

 
Other long-term liabilities
 
35

 
(28
)
Total
 
 
$
19

 
 
 
$
129

 
 
 
Asset Derivatives
 
Liability Derivatives
 
Net Amounts of Assets and Liabilities Presented in the Balance Sheet
 
Balance Sheet Location
 
December 31,
2014
 
Balance Sheet Location
 
December 31,
2014
 
December 31,
2014
 
 
 
 
 
 
 
 
 
 
 
(in millions)
Designated derivatives instruments:
 
 
Commodity derivatives
Other current assets
 
$
—

 
Accrued liabilities
 
$
19

 
 
Foreign currency derivatives*
Accrued liabilities
 
3

 
Accrued liabilities
 
48

 
(45
)
Commodity derivatives
Other long-term assets
 
—

 
Other long-term liabilities
 
8

 
 
Foreign currency derivatives*
Other long-term liabilities
 
2

 
Other long-term liabilities
 
34

 
(32
)
Total
 
 
$
5

 
 
 
$
109

 
 
Derivatives not designated:
Foreign currency derivatives*
Accrued liabilities
 
$
1

 
Accrued liabilities
 
$
1

 
—

Total
 
 
$
1

 
 
 
$
1

 
 
* Derivative instruments within this category are subject to master netting arrangements and are presented on a net basis in the consolidated balance sheets in accordance with accounting guidance related to the offsetting of amounts related to certain contracts.
Schedule of Derivative Instruments, Gain (Loss) in Statement of Financial Performance
The pre-tax effect of derivative financial instruments in the consolidated statement of operations and consolidated statement of comprehensive income for the three months ended March 31, 2015 is as follows:
Three Months Ended March 31, 2015
Loss Recognized in OCI (Effective Portion)
 
Loss Reclassified from OCI into Income (Effective Portion)
 
Gain Recognized in Income (Ineffective Portion Excluded from Effectiveness Testing)
 
 
 
 
 
 
 
(in millions)
Designated derivatives instruments:
 
 
 
 
 
Commodity derivatives
$
(14
)
 
$
(10
)
 
$
—

Foreign currency derivatives
(18
)
 
(14
)
 
—

Total
$
(32
)
 
$
(24
)
 
$
—

 
Loss Recognized in Income
 
 
 
(in millions)
Derivatives not designated:
 
Commodity derivatives
$
—

Foreign currency derivatives
(1
)
Total
$
(1
)

The pre-tax effect of derivative financial instruments in the consolidated statement of operations and consolidated statement of comprehensive income for the three months ended March 31, 2014 is as follows:
Three Months Ended March 31, 2014
Loss Recognized in OCI (Effective Portion)
 
(Loss) Gain Reclassified from OCI into Income (Effective Portion)
 
Gain Recognized in Income (Ineffective Portion Excluded from Effectiveness Testing)
 
 
 
 
 
 
 
(in millions)
Designated derivatives instruments:
 
 
 
 
 
Commodity derivatives
$
(25
)
 
$
(4
)
 
$
—

Foreign currency derivatives
(16
)
 
4

 
—

Total
$
(41
)
 
$
—

 
$
—

 
Gain Recognized in Income
 
 
 
(in millions)
Derivatives not designated:
 
Commodity derivatives
$
—

Foreign currency derivatives
1

Total
$
1