v3.7.0.1
Derivative Instruments and Hedging Activities (Tables)
3 Months Ended
Mar. 31, 2017
Derivative Instruments and Hedging Activities [Abstract]  
Schedule of Other Comprehensive Income and Earnings from Foreign Exchange Contracts
The impact on accumulated other comprehensive income (AOCI) and earnings from foreign exchange and interest rate swap contracts that qualified as cash flow hedges, for the three months ended March 31, 2017 and 2016, were as follows:
 
Three months ended
 
March 31,
Foreign Exchange Contracts:
2017
 
2016
Gain (loss) recognized in AOCI, net of tax
$
(16
)
 
$
(49
)
Gain reclassified from AOCI to net product sales (effective portion), net of tax
$
13

 
$
15

Interest Rate Contracts:
 
 
 
Gain recognized in AOCI, net of tax
$
1

 
$

Gain reclassified from AOCI to interest expense, net of tax
$

 
$

Schedule of Fair Value of Outstanding Derivatives
The following tables summarize the fair value of outstanding derivatives as of March 31, 2017 and December 31, 2016:

 
March 31, 2017
 
Asset Derivatives
 
Liability Derivatives
 
Balance Sheet
Location
 
Fair
Value
 
Balance Sheet
Location
 
Fair
Value
Derivatives designated as hedging instruments:
 
 
 
 
 
 
 
Foreign exchange forward contracts
Prepaid expenses and other current assets
 
$
61

 
Other current liabilities
 
$
7

Foreign exchange forward contracts
Other assets
 
43

 
Other liabilities
 
9

Interest rate contracts
Prepaid expenses and other current assets
 
2

 
Other current liabilities
 

Interest rate contracts
Other assets
 
10

 
Other liabilities
 

Derivatives not designated as hedging instruments:
 
 
 
 
 
 
 
Foreign exchange forward contracts
Prepaid expenses and other current assets
 
4

 
Other current liabilities
 
7

Total fair value of derivative instruments
 
 
$
120

 
 
 
$
23



 
December 31, 2016
 
Asset Derivatives
 
Liability Derivatives
 
Balance Sheet
Location
 
Fair
Value
 
Balance Sheet
Location
 
Fair
Value
Derivatives designated as hedging instruments:
 
 
 
 
 
 
 
Foreign exchange forward contracts
Prepaid expenses and other current assets
 
$
80

 
Other current liabilities
 
$
2

Foreign exchange forward contracts
Other assets
 
59

 
Other liabilities
 
4

Interest rate contracts
Prepaid expenses and other current assets
 

 
Other current liabilities
 

Interest rate contracts
Other assets
 
10

 
Other liabilities
 

Derivatives not designated as hedging instruments:
 
 
 
 
 
 
 
Foreign exchange forward contracts
Prepaid expenses and other current assets
 
17

 
 
 
10

Total fair value of derivative instruments
 
 
$
166

 
 
 
$
16

Offsetting Assets and Liabilities [Table Text Block]
The following tables summarize the potential effect on our condensed consolidated balance sheets of offsetting our foreign exchange forward contracts and interest rate contracts subject to such provisions:
 
 
March 31, 2017
 
 
 
 
 
 
 
 
Gross Amounts Not Offset in the Condensed Consolidated Balance Sheet
 
 
Description
 
Gross Amounts of Recognized Assets/Liabilities
 
Gross Amounts Offset in the Condensed Consolidated Balance Sheet
 
Net Amounts of Assets/Liabilities Presented in the Condensed Consolidated Balance Sheet
 
Derivative Financial Instruments
 
Cash Collateral Received (Pledged)
 
Net Amount
Derivative assets
 
$
120

 
$

 
$
120

 
$
(23
)
 
$

 
$
97

Derivative liabilities
 
(23
)
 

 
(23
)
 
23

 

 

 
 
December 31, 2016
 
 
 
 
 
 
 
 
Gross Amounts Not Offset in the Condensed Consolidated Balance Sheet
 
 
Description
 
Gross Amounts of Recognized Assets/Liabilities
 
Gross Amounts Offset in the Condensed Consolidated Balance Sheet
 
Net Amounts of Assets/Liabilities Presented in the Condensed Consolidated Balance Sheet
 
Derivative Financial Instruments
 
Cash Collateral Received (Pledged)
 
Net Amount
Derivative assets
 
$
166

 
$

 
$
166

 
$
(16
)
 
$

 
$
150

Derivative liabilities
 
(16
)
 

 
(16
)
 
16