O-I Glass (OI) 10-K 16 Feb 16 2015 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($)	12 Months Ended
	Dec. 31, 2015	Jan. 31, 2016	Jun. 30, 2015
Document and Entity Information [Abstract]
Entity Registrant Name	OWENS ILLINOIS INC /DE/
Entity Central Index Key	812,074
Document Type	10-K
Document Period End Date	Dec. 31, 2015
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Filer Category	Large Accelerated Filer
Entity Public Float			$ 4,238,712,000
Entity Common Stock, Shares Outstanding		160,982,234
Document Fiscal Year Focus	2,015
Document Fiscal Period Focus	FY

CONSOLIDATED RESULTS OF OPERATI

CONSOLIDATED RESULTS OF OPERATIONS-K - USD ($) shares in Thousands, $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
CONSOLIDATED RESULTS OF OPERATIONS
Net sales	$ 6,156	$ 6,784	$ 6,967
Cost of goods sold	(5,046)	(5,531)	(5,636)
Gross profit	1,110	1,253	1,331
Selling and administrative expense	(476)	(523)	(506)
Research, development and engineering expense	(64)	(63)	(62)
Interest expense, net	(251)	(230)	(229)
Equity earnings	60	64	67
Other expense, net	(320)	(283)	(266)
Earnings (loss) from continuing operations before income taxes	59	218	335
Provision for income taxes	(106)	(92)	(120)
Earnings (loss) from continuing operations	(47)	126	215
Loss from discontinued operations	(4)	(23)	(18)
Net earnings (loss)	(51)	103	197
Net (earnings) attributable to noncontrolling interests	(23)	(28)	(13)
Net earnings (loss) attributable to the Company	(74)	75	184
Amounts attributable to the Company:
Earnings (loss) from continuing operations	(70)	98	202
Loss from discontinued operations	(4)	(23)	(18)
Net (loss) earnings	$ (74)	$ 75	$ 184
Basic earnings per share:
Earnings (loss) from continuing operations (in dollars per share)	$ (0.44)	$ 0.60	$ 1.22
Loss from discontinued operations (in dollars per share)	(0.03)	(0.14)	(0.11)
Net earnings (loss) (in dollars per share)	$ (0.47)	$ 0.46	$ 1.11
Weighted average shares outstanding (thousands) (in shares)	161,169	164,720	164,425
Diluted earnings per share:
Earnings (loss) from continuing operations (in dollars per share)	$ (0.44)	$ 0.59	$ 1.22
Loss from discontinued operations (in dollars per share)	(0.03)	(0.14)	(0.11)
Net earnings (loss) (in dollars per share)	$ (0.47)	$ 0.45	$ 1.11
Weighted average diluted shares outstanding (thousands) (in shares)	161,169	166,047	165,828

CONSOLIDATED COMPREHENSIVE INCO

CONSOLIDATED COMPREHENSIVE INCOME-K - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
CONSOLIDATED COMPREHENSIVE INCOME
Net earnings (loss)	$ (51)	$ 103	$ 197
Other comprehensive income (loss):
Foreign currency translation adjustments	(529)	(305)	(232)
Pension and other postretirement benefit adjustments, net of tax	(4)	(90)	609
Change in fair value of derivative instruments, net of tax	(6)	1	2
Other comprehensive income (loss) attributable to the Company	(539)	(394)	379
Total comprehensive income (loss)	(590)	(291)	576
Comprehensive income attributable to noncontrolling interests	(7)	(7)	(7)
Comprehensive income (loss) attributable to the Company	$ (597)	$ (298)	$ 569

CONSOLIDATED BALANCE SHEETS-K

CONSOLIDATED BALANCE SHEETS-K - USD ($) $ in Millions	Dec. 31, 2015	Dec. 31, 2014
Current assets:
Cash and cash equivalents	$ 399	$ 512
Trade receivables, net of allowances of $29 million and $34 million at December 31, 2015 and 2014, respectively	562	550
Inventories	1,007	1,035
Prepaid expenses and other current assets	366	274
Total current assets	2,334	2,371
Other assets:
Equity investments	409	427
Pension assets	32	22
Other assets	599	685
Intangibles	597
Goodwill	2,489	1,893
Total other assets	4,126	3,027
Property, plant and equipment:
Land, at cost	252	226
Buildings and equipment, at cost:
Buildings and building equipment	1,123	1,097
Factory machinery and equipment	4,526	4,302
Transportation, office and miscellaneous equipment	88	105
Construction in progress	238	161
Property, plant and equipment, at cost	6,227	5,891
Less accumulated depreciation	3,266	3,446
Net property, plant and equipment	2,961	2,445
Total assets	9,421	7,843
Current liabilities:
Accounts payable	1,212	1,137
Salaries and wages	145	145
U.S. and foreign income taxes	36	43
Current portion of asbestos-related liabilities	130	143
Other accrued liabilities	371	372
Short-term loans	160	127
Long-term debt due within one year	68	361
Total current liabilities	2,122	2,328
Long-term debt	5,345	2,957
Deferred taxes	124	121
Pension benefits	504	465
Nonpension postretirement benefits	155	178
Other liabilities	205	227
Asbestos-related liabilities	$ 392	$ 292
Commitments and contingencies
Share owners' equity of the Company:
Common stock, par value $.01 per share, 250,000,000 shares authorized, 184,480,646 and 183,915,370 shares issued (including treasury shares), respectively	$ 2	$ 2
Capital in excess of par value	3,064	3,066
Treasury stock, at cost, 23,519,049 and 19,718,055 shares, respectively	(573)	(480)
Retained earnings (loss)	(10)	64
Accumulated other comprehensive loss	(2,017)	(1,494)
Total share owners' equity of the Company	466	1,158
Noncontrolling interests	108	117
Total share owners' equity	574	1,275
Total liabilities and share owners' equity	$ 9,421	$ 7,843

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical)-K - USD ($) $ in Millions	Dec. 31, 2015	Dec. 31, 2014
CONSOLIDATED BALANCE SHEETS
Trade receivables allowance	$ 29	$ 34
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized	250,000,000	250,000,000
Common stock, shares issued	184,480,646	183,915,370
Treasury stock, shares	23,519,049	19,718,055

CONSOLIDATED SHARE OWNERS' EQUI

CONSOLIDATED SHARE OWNERS' EQUITY-K - USD ($) shares in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Common Stock
Increase (Decrease) in Share Owners' Equity
Balance	$ 2	$ 2	$ 2
Balance	2	2	2
Capital in Excess of Par Value
Increase (Decrease) in Share Owners' Equity
Balance	3,066	3,040	3,005
Issuance of common stock (0.2, 0.3 and 1.4 million shares for the year ended December 31, 2015, 2014 and 2013, respectively)	1	5	25
Repurchase of exchangeable notes			(1)
Stock compensation	15	21	11
Acquisitions of noncontrolling interest	(18)
Balance	3,064	3,066	3,040
Treasury Stock
Increase (Decrease) in Share Owners' Equity
Balance	(480)	(454)	(425)
Reissuance of common stock (0.3, 0.2 and 0.2 million shares for year ended December 31, 2015, 2014 and 2013, respectively)	7	6	4
Treasury shares purchased (4.1, 1.1 and 1.1 million shares for year ended December 31, 20	(100)	(32)	(33)
Balance	(573)	(480)	(454)
Retained Earnings (Loss)
Increase (Decrease) in Share Owners' Equity
Balance	64	(11)	(195)
Net earnings (loss)	(74)	75	184
Balance	(10)	64	(11)
Accumulated Other Comprehensive Loss
Increase (Decrease) in Share Owners' Equity
Balance	(1,494)	(1,121)	(1,506)
Other comprehensive income (loss) attributable to the Company	(523)	(373)	385
Balance	(2,017)	(1,494)	(1,121)
Non-controlling Interests
Increase (Decrease) in Share Owners' Equity
Balance	117	147	174
Net earnings (loss)	23	28	13
Other comprehensive income (loss) attributable to the Company	(16)	(21)	(6)
Distributions to noncontrolling interests	(22)	(37)	(22)
Acquisitions of noncontrolling interest	6
Contribution from noncontrolling interests			5
Deconsolidation of subsidiary			(17)
Balance	108	117	147
Balance	1,275	1,603	1,055
Issuance of common stock (0.2, 0.3 and 1.4 million shares for the year ended December 31, 2015, 2014 and 2013, respectively)	$ 1	$ 5	$ 25
Issuance of common stock (in shares)	0.2	0.3	1.4
Reissuance of common stock (0.3, 0.2 and 0.2 million shares for year ended December 31, 2015, 2014 and 2013, respectively)	$ 7	$ 6	$ 4
Reissuance of common stock (in shares)	0.3	0.2	0.2
Treasury shares purchased (4.1, 1.1 and 1.1 million shares for year ended December 31, 20	$ (100)	$ (32)	$ (33)
Treasury shares purchased (in shares)	4.1	1.1	1.1
Repurchase of exchangeable notes			$ (1)
Stock compensation	$ 15	$ 21	11
Net earnings (loss)	(51)	103	197
Other comprehensive income (loss) attributable to the Company	(539)	(394)	379
Distributions to noncontrolling interests	(22)	(37)	(22)
Acquisitions of noncontrolling interest	(12)
Contribution from noncontrolling interests			5
Deconsolidation of subsidiary			(17)
Balance	$ 574	$ 1,275	$ 1,603

CONSOLIDATED SHARE OWNERS' EQU7

CONSOLIDATED SHARE OWNERS' EQUITY (Parenthetical)-K - shares shares in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
CONSOLIDATED SHARE OWNERS' EQUITY
Issuance of common stock (in shares)	0.2	0.3	1.4
Reissuance of common stock (in shares)	0.3	0.2	0.2
Treasury shares purchased (in shares)	4.1	1.1	1.1

CONSOLIDATED CASH FLOWS-K

CONSOLIDATED CASH FLOWS-K - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Cash flows operating activities:
Net earnings (loss)	$ (51)	$ 103	$ 197
Loss from discontinued operations	4	23	18
Non-cash charges (credits):
Depreciation	323	335	350
Amortization of intangibles and other deferred items	86	83	47
Amortization of finance fees and debt discount	15	30	32
Deferred tax provision (benefit)	12	(18)	(3)
Pension expense	31	43	101
Restructuring, asset impairment and related charges	63	76	119
Pension settlement charges		65
Non-income tax charge		69
Future asbestos-related costs	225	135	145
Acquisition-related fair value inventory adjustments	22
Acquisition-related fair value intangible adjustments	10
Other	108	73	52
Pension contributions	(17)	(28)	(96)
Asbestos-related payments	(138)	(148)	(158)
Cash paid for restructuring activities	(38)	(58)	(78)
Change in non-current assets and liabilities	(131)	(202)	(150)
Change in components of working capital	88	117	124
Cash provided by continuing operating activities	612	698	700
Cash utilized in discontinued operating activities	(4)	(23)	(18)
Total cash provided by (utilized in) operating activities	608	675	682
Investing activities:
Additions to property, plant and equipment	(402)	(369)	(361)
Acquisitions, net of cash acquired	(2,351)	(114)	(4)
Net cash proceeds related to sale of assets and other	1	19	11
Net foreign exchange derivative activity	4
Net activity for non-controlling partner loans		9	(16)
Deconsolidation of subsidiary			(32)
Cash utilized in investing activities	(2,748)	(455)	(402)
Cash flows from financing activities:
Additions to long-term debt	4,538	1,247	768
Repayments of long-term debt	(2,321)	(1,101)	(1,040)
Increase (decrease) in short-term loans	51	(139)	8
Payment of finance fees	(90)	(11)	(7)
Distributions to noncontrolling interests	(22)	(37)	(22)
Treasury shares purchased	(100)	(32)	(33)
Contribution from noncontrolling interests			5
Issuance of common stock and other	1	3
Cash provided by (utilized in) financing activities	2,057	(70)	(321)
Effect of exchange rate fluctuations on cash	(30)	(21)	(7)
Increase (decrease) in cash	(113)	129	(48)
Cash at beginning of period	512	383	431
Cash at end of period	$ 399	$ 512	$ 383

Significant Accounting Policies

Significant Accounting Policies-K	12 Months Ended
	Dec. 31, 2015
Significant Accounting Policies
Organization, Consolidation, Basis of Presentation, Business Description and Accounting Policies [Text Block]	1. Significant Accounting Poli cies Basis of Consolidated Statements The consolidated financial statements of Owens-Illinois, Inc. (the “Company”) include the accounts of its subsidiaries. Newly acquired subsidiaries have been included in the consolidated financial statements from dates of acquisition. The Company uses the equity method of accounting for investments in which it has a significant ownership interest, generally 20% to 50% . Other investments are accounted for at cost. The Company monitors other than temporary declines in fair value and records reductions in carrying values when appropriate. Nature of Operations The Company is a leading manufacturer of glass container products. The Company’s principal product lines are glass containers for the food and beverage industries. The Company has glass container operations located in 23 countries. The principal markets and operations for the Company’s products are in Europe, North America, Latin America and Asia Pacific. Use of Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States requires management of the Company to make estimates and assumptions that affect certain amounts reported in the financial statements and accompanying notes. Actual results may differ from those estimates, at which time the Company would revise its estimates accordingly. Foreign Currency Translation The assets and liabilities of non-U.S. subsidiaries are translated into U.S. dollars at year-end exchange rates. Any related translation adjustments are recorded in accumulated other comprehensive income in share owners’ equity. Revenue Recognition The Company recognizes sales, net of estimated discounts and allowances, when the title to the products and risk of loss are transferred to customers. Provisions for rebates to customers are provided in the same period that the related sales are recorded. Shipping and Handling Costs Shipping and handling costs are included with cost of goods sold in the Consolidated Results of Operations. Stock -Based Compensation The Company has various stock-based compensation plans consisting of stock option grants and restricted share awards. Costs resulting from all share-based compensation plans are required to be recognized in the financial statements. A public entity is required to measure the cost of employee services received in exchange for an award of equity instruments based on the grant-date fair value of the award. That cost is recognized over the required service period (usually the vesting period). No compensation cost is recognized for equity instruments for which employees do not render the required service. Cash The Company defines “cash” as cash and time deposits with maturities of three months or less when purchased. Outstanding checks in excess of funds on deposit are included in accounts payable. Accounts Receivable Receivables are stated at amounts estimated by management to be the net realizable value. The Company charges off accounts receivable when it becomes apparent based upon age or customer circumstances that amounts will not be collected. Allowance for Doubtful Accounts The allowance for doubtful accounts is established through charges to the provision for bad debts. The Company evaluates the adequacy of the allowance for doubtful accounts on a periodic basis. The evaluation includes historical trends in collections and write-offs, management’s judgment of the probability of collecting accounts and management’s evaluation of business risk. Inventory Valuation Inventories are valued at the lower of average costs or market. Goodwill Goodwill represents the excess of cost over fair value of net assets of businesses acquired. Goodwill is evaluated annually, as of October 1, for impairment or more frequently if an impairment indicator exists. Intangible Assets and Other Long-Lived Assets Intangible assets are amortized over the expected useful life of the asset. Amortization expense directly attributed to the manufacturing of the Company’s products is included in cost of goods sold. Amortization expense related to non-manufacturing activities is included in selling and administrative and other. The Company evaluates the recoverability of intangible assets and other long-lived assets based on undiscounted projected cash flows, excluding interest and taxes, when factors indicate that impairment may exist. If impairment exists, the asset is written down to fair value. Property, Plant and Equipment Property, plant and equipment (“PP&E”) is carried at cost and includes expenditures for new facilities and equipment and those costs which substantially increase the useful lives or capacity of existing PP&E. In general, depreciation is computed using the straight-line method and recorded over the estimated useful life of the asset. Factory machinery and equipment is depreciated over periods ranging from 5 to 25 years with the majority of such assets (principally glass-melting furnaces and forming machines) depreciated over 7 to 15 years. Buildings and building equipment are depreciated over periods ranging from 10 to 50 years. Depreciation expense directly attributed to the manufacturing of the Company’s products is included in cost of goods sold. Depreciation expense related to non-manufacturing activities is included in selling and administrative. Depreciation expense includes the amortization of assets recorded under capital leases. Maintenance and repairs are expensed as incurred. Costs assigned to PP&E of acquired businesses are based on estimated fair values at the date of acquisition. The Company evaluates the recoverability of PP&E based on undiscounted projected cash flows, excluding interest and taxes, when factors indicate that impairment may exist. If impairment exists, the asset is written down to fair value. Derivative Instruments The Company uses forward exchange contracts, options and commodity forward contracts to manage risks generally associated with foreign exchange rate and commodity market volatility. Derivative financial instruments are included on the balance sheet at fair value. When appropriate, derivative instruments are designated as and are effective as hedges, in accordance with accounting principles generally accepted in the United States. If the underlying hedged transaction ceases to exist, all changes in fair value of the related derivatives that have not been settled are recognized in current earnings. The Company does not enter into derivative financial instruments for trading purposes and is not a party to leveraged derivatives. Cash flows from short-term forward exchange contracts not designated as hedges are classified as a financing activity. Cash flows of commodity forward contracts are classified as operating activities. Fair Value Measurements Fair value is defined as the amount that would be received to sell an asset or paid to transfer a liability in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants. Generally accepted accounting principles defines a three-tier fair value hierarchy, which prioritizes the inputs used in measuring fair value as follows: Level 1: Observable inputs such as quoted prices in active markets; Level 2: Inputs, other than quoted prices in active markets, that are observable either directly or indirectly; and Level 3: Unobservable inputs for which there is little or no market data, which requires the Company to develop assumptions. The carrying amounts reported for cash and short-term loans approximate fair value. In addition, carrying amounts approximate fair value for certain long-term debt obligations subject to frequently redetermined interest rates. Fair values for the Company’s significant fixed rate debt obligations are generally based on published market quotations. The Company’s derivative assets and liabilities consist of natural gas forwards and foreign exchange option and forward contracts. The Company uses an income approach to valuing these contracts. Natural gas forward rates and foreign exchange rates are the significant inputs into the valuation models. These inputs are observable in active markets over the terms of the instruments the Company holds, and accordingly, the Company classifies its derivative assets and liabilities as Level 2 in the hierarchy. The Company also evaluates counterparty risk in determining fair values. Reclassifications Certain reclassifications of prior years’ data have been made to conform to the current year presentation. New Accounting Standards Revenue from Contracts with Customers - In May 2014, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") No. 2014-09, "Revenue from Contracts with Customers", which requires an entity to recognize the amount of revenue to which it expects to be entitled for the transfer of promised goods or services to customers. In August 2015, the FASB issued ASU No. 2015-14, “Revenue from Contracts with Customers”, which delayed by one year the effective date of the new revenue recognition standard, which will be effective for the Company on January 1, 2018. The Company is currently evaluating the effect this standard will have on its consolidated financial statements and related disclosures. The Company has not yet selected a transition method nor determined the effect of the standard on its ongoing financial reporting. Presentation of Debt Issuance Costs - In April 2015, the FASB issued ASU No. 2015-03, "Simplifying the Presentation of Debt Issuance Costs." This standard amends existing guidance to require the presentation of debt issuance costs in the balance sheet as a deduction from the carrying amount of the related debt liability instead of a deferred charge (asset). In the third quarter 2015, the Company elected to adopt this new guidance. As a result of the adoption of ASU No. 2015-03 certain prior year amounts have been reclassified for consistency with the current period presentation. These reclassifications had no effect on the reported results of operations for any period. Previously, the Company had classified these debt issuance costs as an asset in “other assets”. Accordingly, the Company has revised the classification to report these debt issuance costs under the “long-term debt” caption on the balance sheet. For the period ended December 31, 2014, the total of debt issuance costs that was previously classified as “other assets” was $15 million. Business Combinations – In September 2015, the FASB issued ASU No. 2015-16, “Simplifying the Accounting for Measurement-Period Adjustments”. This standard allows for the acquirer to recognize adjustments to provisional amounts that are identified during the measurement period in the reporting periods in which the adjustment amounts are determined. The Company elected to adopt this new guidance as of the third quarter of 2015. Deferred Taxes – In November 2015, the FASB issued ASU No. 2015-17, “Balance Sheet Classification of Deferred Taxes”. This standard requires that all deferred tax assets and liabilities, along with any related valuation allowance, be classified as noncurrent on the balance sheet. The Company elected to adopt this new guidance prospectively in the fourth quarter of 2015. Prior periods were not retrospectively adjusted.

Segment Information-K

Segment Information-K	12 Months Ended
	Dec. 31, 2015
Segment Information
Segment Information	2. Segment Information The Company has four reportable segments based on its geographic locations: Europe, North America, Latin America and Asia Pacific. In connection with the Company’s acquisition (the “Vitro Acquisition”) of the food and beverage glass container business of Vitro S.A.B. de C.V. and its subsidiaries as conducted in the United States, Mexico and Bolivia (the “Vitro Business”) on September 1, 2015 (see Note 19), the Company has renamed the former South America segment to the Latin America segment. This change in segment name was made to reflect the addition of the Mexican and Bolivian operations from the Vitro Acquisition into the former South America segment. The acquired Vitro food and beverage glass container distribution business located in the United States is included in the North American operating segment. These four segments are aligned with the Company’s internal approach to managing, reporting, and evaluating performance of its global glass operations. Certain assets and activities not directly related to one of the regions or to glass manufacturing are reported with Retained corporate costs and other. These include licensing, equipment manufacturing, global engineering, and certain equity investments. Retained corporate costs and other also includes certain headquarters administrative and facilities costs and certain incentive compensation and other benefit plan costs that are global in nature and are not allocable to the reportable segments. The Company’s measure of profit for its reportable segments is segment operating profit, which consists of consolidated earnings from continuing operations before interest income, interest expense, and provision for income taxes and excludes amounts related to certain items that management considers not representative of ongoing operations as well as certain retained corporate costs. The Company’s management uses segment operating profit, in combination with selected cash flow information, to evaluate performance and to allocate resources. Segment operating profit for reportable segments includes an allocation of some corporate expenses based on both a percentage of sales and direct billings based on the costs of specific services provided. Financial information regarding the Company’s reportable segments is as follows: 2015 2014 2013 Net sales: Europe $ $ $ North America Latin America Asia Pacific Reportable segment totals Other Net sales $ $ $ 2015 2014 2013 Segment operating profit: Europe $ $ $ North America Latin America Asia Pacific Reportable segment totals Items excluded from segment operating profit: Retained corporate costs and other Charge for asbestos-related costs Restructuring, asset impairment and other charges Strategic transaction costs Acquisition-related fair value inventory adjustments Acquisition-related fair value intangible adjustments Non-income tax charge Pension settlement charges Interest expense, net Earnings from continuing operations before income taxes $ $ $ Reportable Retained Consoli- North Latin Asia Segment Corp Costs dated Europe America America Pacific Totals and Other Totals Total assets: 2015 $ $ $ $ $ $ $ 2014 2013 Equity investments: 2015 $ $ $ — $ $ $ $ 2014 2013 Equity earnings: 2015 $ $ $ — $ $ $ $ 2014 2013 Capital expenditures: 2015 $ $ $ $ $ $ $ 2014 2013 Depreciation and amortization expense: 2015 $ $ $ $ $ $ $ 2014 2013 The Company’s net property, plant and equipment by geographic segment are as follows: U.S. Non-U.S. Total 2015 $ $ $ 2014 2013 The Company’s net sales by geographic segment are as follows: U.S. Non-U.S. Total 2015 $ $ $ 2014 2013 Operations outside the U.S. that accounted for more than 10% of consolidated net sales from continuing operations were in France (2015 — 10% , 2014 — 11% , 2013 — 11%) .

Inventories-K

Inventories-K	12 Months Ended
	Dec. 31, 2015
Inventories
Inventories	3. Inventories Major classes of inventory are as follows: 2015 2014 Finished goods $ $ Raw materials Operating supplies $ $

Equity Investments-K

Equity Investments-K	12 Months Ended
	Dec. 31, 2015
Equity Investments
Equity Investments	4. Equity Investments At December 31, 2015 the Company’s ownership percentage in affiliates include: O-I Ownership Affiliates Percentage Business Type BJC O-I Glass Pte. Ltd. % Glass container manufacturer CO Vidrieria SARL ("COV") % Glass container manufacturer Rocky Mountain Bottle Company % Glass container manufacturer Tata Chemical (Soda Ash) Partners % Soda ash supplier Vetrerie Meridionali SpA ("VeMe") % Glass container manufacturer Vetri Speciali SpA % Specialty glass manufacturer In 2014, the Company entered into the COV joint venture with Constellation Brands, Inc. to operate a glass container plant in Nava, Mexico. In 2013, changes were made to the VeMe joint venture agreement that resulted in the Company relinquishing control of the joint venture and, therefore, deconsolidating the entity. No gain or loss was recognized related to the deconsolidation as the fair value of the entity was equal to the carrying amount of the entity’s assets and liabilities. The fair value, which the Company classified as Level 3 in the fair value hierarchy, was computed using a discounted cash flow analysis based on projected future cash flows of the joint venture. Summarized information pertaining to the Company’s equity associates follows: 2015 2014 2013 Equity in earnings: Non-U.S. $ $ $ U.S. Total $ $ $ Dividends received $ $ $ Summarized combined financial information for equity associates is as follows (unaudited): 2015 2014 At end of year: Current assets $ $ Non-current assets Total assets Current liabilities Other liabilities and deferred items Total liabilities and deferred items Net assets $ $ For the year: 2015 2014 2013 Net sales $ $ $ Gross profit $ $ $ Net earnings $ $ $ Based on an evaluation of each of the Company’s equity investments for the three years ending December 31, 2015, no investments exceeded the significant subsidiary thresholds per Rule 3-09 of Regulation S-X. As such, separate financial statements for the Company’s equity investments are not required to be filed. The Company made purchases of approximately $161 million and $188 million from equity affiliates in 2015 and 2014, respectively, and owed approximately $66 million and $79 million to equity affiliates as of December 31, 2015 and 2014, respectively. There is a difference of approximately $18 million as of December 31, 2015, between the amount at which certain investments are carried and the amount of underlying equity in net assets. The portion of the difference related to inventory or amortizable assets is amortized as a reduction of the equity earnings. The remaining difference is considered goodwill.

Goodwill and Intangible Assets-

Goodwill and Intangible Assets-K	12 Months Ended
	Dec. 31, 2015
Goodwill
Goodwill	5. Goodwill and Intangible Assets Goodwill The changes in the carrying amount of goodwill for the years ended December 31, 2015, 2014 and 2013 are as follows: North Latin Europe America America Other Total Balance as of January 1, 2013 $ $ $ $ $ Translation effects Balance as of December 31, 2013 Translation effects Balance as of December 31, 2014 Acquisitions Translation effects Balance as of December 31, 2015 $ $ $ $ $ The acquired goodwill in 2015 primarily relates to the Vitro Acquisition (see Note 19). Goodwill for the Asia Pacific segment is $0 and net of accumulated impairment losses of $1,135 million as of December 31, 2015, 2014 and 2013. Goodwill is tested for impairment annually as of October 1 (or more frequently if impairment indicators arise) using a two-step process. Step 1 compares the business enterprise value (“BEV”) of each reporting unit with its carrying value. The BEV is computed based on estimated future cash flows, discounted at the weighted average cost of capital of a hypothetical third-party buyer. If the BEV is less than the carrying value for any reporting unit, then Step 2 must be performed. Step 2 compares the implied fair value of goodwill with the carrying amount of goodwill. Any excess of the carrying value of the goodwill over the implied fair value will be recorded as an impairment loss. The calculations of the BEV in Step 1 and the implied fair value of goodwill in Step 2 are based on significant unobservable inputs, such as price trends, customer demand, material costs, discount rates and asset replacement costs, and are classified as Level 3 in the fair value hierarchy. During the fourth quarter of 2015, the Company completed its annual impairment testing and determined that no impairment existed. Intangible assets On September 1, 2015, the Company acquired customer list intangibles as part of the Vitro Acquisition (see Note 19). The intangibles consist of the following at December 31, 2015: As of December 31, 2015 Gross Carrying Amount Accumulated Amortization Translation Effects Net Carrying Amount Definite-lived intangible assets Customer list intangibles $ $ $ $ Customer list intangible assets are amortized using the accelerated amortization method over their 20 year lives. Amortization expense for intangible assets was $26 million, $0 million and $0 million for the years ended December 31, 2015, 2014, 2013, respectively. Estimated amortization related to intangible assets through 2020 is as follows: 2016, $42 million; 2017, $45 million; 2018, $44 million; 2019, $44 million; and 2020, $42 million. No impairment existed on these assets at December 31, 2015. The Company has determined that the fair value measurements related to the customer list intangibles are based on significant unobservable inputs and are classified as Level 3 in the fair value hierarchy.

Other Assets-K

Other Assets-K	12 Months Ended
	Dec. 31, 2015
Other Assets
Other Assets	6 . Prepaid Expenses and Other Assets Prepaid expenses and other current assets consist of the following at December 31, 2015 and 2014: 2015 2014 Prepaid expenses $ $ Value added taxes Other $ $ In conjunction with the Vitro Acquisition, part of the total consideration paid by the Company relates to a value added tax receivable of approximately $143 million. This amount is included in “Value added taxes” above and is expected to be refunded to the Company in approximately twelve months. Other assets (noncurrent) consist of the following at December 31, 2015 and 2014: 2015 2014 Deferred tax assets $ $ Deferred returnable packaging costs Repair part inventories Capitalized software Value added taxes Deferred finance fees Other $ $ Capitalized software includes costs related to the acquisition and development of internal-use software. These costs are amortized over the estimated useful life of the software. Amortization expense for capitalized software was $ 19 million, $17 million and $14 million for 2015, 2014 and 2013, respectively. Estimated amortization related to capitalized software through 2020 is as follows: 2016, $17 million; 2017, $16 million; 2018, $15 million; 2019, $13 million; and 2020, $ 11 million.

Derivative Instruments-K

Derivative Instruments-K	12 Months Ended
	Dec. 31, 2015
Derivative Instruments
Derivative Instruments	7 . Derivative Instruments The Company has certain derivative assets and liabilities which consist of natural gas forwards and foreign exchange option and forward contracts. The Company uses an income approach to value these contracts. Natural gas forward rates and foreign exchange rates are the significant inputs into the valuation models. These inputs are observable in active markets over the terms of the instruments the Company holds, and accordingly, the Company classifies its derivative assets and liabilities as Level 2 in the hierarchy. The Company also evaluates counterparty risk in determining fair values. Commodity Forward Contracts Designated as Cash Flow Hedges In North America, the Company enters into commodity forward contracts related to forecasted natural gas requirements, the objectives of which are to limit the effects of fluctuations in the future market price paid for natural gas and the related volatility in cash flows. The Company continually evaluates the natural gas market and related price risk and periodically enters into commodity forward contracts in order to hedge a portion of its usage requirements. The majority of the sales volume in North America is tied to customer contracts that contain provisions that pass the price of natural gas to the customer. In certain of these contracts, the customer has the option of fixing the natural gas price component for a specified period of time. At December 31, 2015 and 2014, the Company had entered into commodity forward contracts covering approximately 7,300,000 MM BTUs and 450,000 MM BTUs, respectively, primarily related to customer requests to lock the price of natural gas. The Company accounts for the above forward contracts as cash flow hedges at December 31, 2015 and recognizes them on the balance sheet at fair value. The effective portion of changes in the fair value of a derivative that is designated as, and meets the required criteria for, a cash flow hedge is recorded in the Accumulated Other Comprehensive Income component of share owners’ equity (“OCI”) and reclassified into earnings in the same period or periods during which the underlying hedged item affects earnings. An unrecognized loss of $ 4 million at December 31, 2015 and an unrecognized loss of less than $1 million at December 31, 2014 related to the commodity forward contracts were included in Accumulated OCI, and will be reclassified into earnings over the next twelve to twenty-four months. Any material portion of the change in the fair value of a derivative designated as a cash flow hedge that is deemed to be ineffective is recognized in current earnings. The ineffectiveness related to these natural gas hedges for the year ended December 31, 2015 and 2014 was not material. The effect of the commodity forward contracts on the results of operations for the years ended December 31, 2015, 2014 and 2013 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) 2015 2014 2013 2015 2014 2013 $ $ $ $ (1) $ 2 $ Foreign Exchange Derivative Contracts and not Designated as Hedging Instruments The Company may enter into short-term forward exchange or option agreements to purchase foreign currencies at set rates in the future. These agreements are used to limit exposure to fluctuations in foreign currency exchange rates for significant planned purchases of fixed assets or commodities that are denominated in currencies other than the subsidiaries’ functional currency. The Company may also use forward exchange agreements to offset the foreign currency risk for receivables and payables, including intercompany receivables, payables and loans, not denominated in, or indexed to, their functional currencies. The Company records these short-term forward exchange agreements on the balance sheet at fair value and changes in the fair value are recognized in current earnings. At December 31, 2015 and 2014, the Company had outstanding forward exchange and option agreements denominated in various currencies covering the equivalent of approximately $790 million and $524 million, respectively, related primarily to intercompany transactions and loans. The effect of the foreign exchange derivative contracts on the results of operations for the years ended December 31, 2015, 2014 and 2013 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 2015 2014 2013 Other expense $ $ $ Balance Sheet Classification The Company records the fair values of derivative financial instruments on the balance sheet as follows: (a) receivables if the instrument has a positive fair value and maturity within one year, (b) deposits, receivables, and other assets if the instrument has a positive fair value and maturity after one year, and (c) other accrued liabilities or other liabilities (current) if the instrument has a negative fair value and maturity within one year. The following table shows the amount and classification (as noted above) of the Company’s derivatives as of December 31, 2015 and 2014: Fair Value Balance Sheet Location 2015 2014 Asset Derivatives: Derivatives not designated as hedging instruments: Forward exchange derivative contracts a $ $ Total asset derivatives $ $ Liability Derivatives: Derivatives designated as hedging instruments: Commodity futures contracts c $ $ — Derivatives not designated as hedging instruments: Forward exchange derivative contracts c Total liability derivatives $ $

Restructuring Accruals, Asset I

Restructuring Accruals, Asset Impairments and Other Costs Related to Closed Facilities-K	12 Months Ended
	Dec. 31, 2015
Restructuring Accruals, Asset Impairments and Other Costs Related to Closed Facilities
Restructuring Accruals, Asset Impairments and Other Costs Related to Closed Facilities	8 . Restructuring Accruals , Asset Impairments and Other Costs Related to Closed Facilities The Company continually reviews its manufacturing footprint and operating cost structure and may decide to close operations or reduce headcount to gain efficiencies, integrate acquired operations, reduce future expenses and other market factors. The Company incurs costs associated with these actions including employee severance and benefits, other exit costs such as those related to contract terminations, and asset impairment charges. The Company also may incur other costs related to closed facilities including environmental remediation, clean up, dismantling and preparation for sale or other disposition. The Company accounts for restructuring and other costs under applicable provisions of generally accepted accounting principles. Charges for employee severance and related benefits are generally accrued based on contractual arrangements with employees or their representatives. Other exit costs are accrued based on the estimated cost to settle related contractual arrangements. Estimated environmental remediation costs are accrued when specific claims have been received or are probable of being received. The Company’s decisions to curtail selected production capacity have resulted in write downs of certain long-lived assets to the extent their carrying amounts exceeded fair value or fair value less cost to sell. The Company classified the significant assumptions used to determine the fair value of the impaired assets as Level 3 in the fair value hierarchy as set forth in the general accounting principles for fair value measurements. When a decision is made to take these actions, the Company manages and accounts for them programmatically apart from the on-going operations of the business. Information related to major programs (as in the case of the European Asset Optimization and Asia Pacific Restructuring programs below) are presented separately. Minor initiatives are presented on a combined basis as Other Restructuring Actions. These restructuring initiatives taken by the Company are not related to the European Asset Optimization program or the Asia Pacific restructuring plan. When charges related to major programs are completed, remaining accrual balances are classified with Other Restructuring Actions. European Asset Optimization Since 2011, the Company has implemented the European Asset Optimization program to increase the efficiency and capability of its European operations and to better align its European manufacturing footprint with market and customer needs. This program involved making additional investments in certain facilities and addressing assets with higher cost structures. As part of this program, the Company recorded charges of $0 million in 2015, $1 million in 2014 and $16 million in 2013 for employee costs, write-down of assets, and environmental remediation related to decisions to close furnaces and manufacturing facilities in Europe. The Company does not expect to execute any further actions under this program and recorded total cumulative charges of $127 million. Asia Pacific Restructuring Since 2011, the Company has implemented a restructuring plan in its Asia Pacific segment, primarily related to aligning its supply base with lower demand in the region. As part of this plan, the Company recorded charges of $5 million, $73 million and $49 million for the years ended 2015, 2014 and 2013, respectively, for employee costs, write-down of assets, and pension charges related to furnace closures and additional restructuring activities. The Company has recorded total cumulative charges of $220 million under this program . Other Restructuring Actions The Company took certain other restructuring actions and recorded charges in 2015 of $58 million. These charges primarily related to employee costs, write-down of assets and other exit costs totaling $14 million for a plant closure and furnace closure in Latin America, $38 million for a plant closure in North America and $6 million for other restructuring actions. In 2014, the Company took certain other restructuring actions and recorded charges of $2 million for employee costs related to global headcount reduction initiatives. In 2013, there were charges of $16 million for employee costs related to the closure of flat glass operations in Latin America, $13 million for employee costs related to global headcount reduction initiatives, and $3 million for miscellaneous other costs. The following table presents information related to restructuring, asset impairment and other costs related to closed facilities: European Other Asset Asia Pacific Restructuring Total Optimization Restructuring Actions Restructuring Balance at January 1, 2014 $ $ $ $ 2014 charges Write-down of assets to net realizable value Net cash paid, principally severance and related benefits Pension charges transferred to other accounts Other, including foreign exchange translation Balance at December 31, 2014 2015 charges Write-down of assets to net realizable value Net cash paid, principally severance and related benefits Other, including foreign exchange translation Balance at December 31, 2015 $ $ $ $ The restructuring accrual balance represents the Company’s estimates of the remaining future cash amounts to be paid related to the actions noted above. As of December 31, 2015, the Company’s estimates include approximately $29 million for employee benefits costs, $7 million for environmental remediation costs, and $7 million for other exit costs.

Pension Benefit Plans and Other

Pension Benefit Plans and Other Postretirement Benefits-K	12 Months Ended
	Dec. 31, 2015
Pension Benefit Plans and Other Postretirement Benefits
Pension Benefit Plans and Other Postretirement Benefits	9. Pension Benefit Plans and Other Postretirement Benefits Pension Benefit Plans The Company has defined benefit pension plans covering a substantial number of employees located in the United States and several other non-U.S. jurisdictions. Benefits generally are based on compensation for salaried employees and on length of service for hourly employees. The Company’s policy is to fund pension plans such that sufficient assets will be available to meet future benefit requirements. The Company’s defined benefit pension plans use a December 31 measurement date. The following tables relate to the Company’s principal defined benefit pension plans. The changes in the pension benefit obligations for the year are as follows: U.S. Non-U.S. 2015 2014 2015 2014 Obligations at beginning of year $ $ $ $ Change in benefit obligations: Service cost Interest cost Actuarial (gain) loss, including the effect of change in discount rates Curtailment, settlement, and plan amendment Acquisitions Participant contributions Benefit payments Other Foreign currency translation Net change in benefit obligations Obligations at end of year $ $ $ $ The changes in the fair value of the pension plans’ assets for the year are as follows: U.S. Non-U.S. 2015 2014 2015 2014 Fair value at beginning of year $ $ $ $ Change in fair value: Actual gain (loss) on plan assets Benefit payments Employer contributions Participant contributions Settlements Acquisitions Foreign currency translation Other Net change in fair value of assets Fair value at end of year $ $ $ $ The Company recognizes the funded status of each pension benefit plan on the balance sheet. The funded status of each plan is measured as the difference between the fair value of plan assets and actuarially calculated benefit obligations as of the balance sheet date. Actuarial gains and losses are accumulated in Other Comprehensive Income and the portion of each plan that exceeds 10% of the greater of that plan’s assets or projected benefit obligation is amortized to income on a straight-line basis over the average remaining service period of employees still accruing benefits or the expected life of participants not accruing benefits if all, or almost all, of the plan’s participants are no longer accruing benefits. The funded status of the pension plans at year end is as follows: U.S. Non-U.S. 2015 2014 2015 2014 Plan assets at fair value $ $ $ $ Projected benefit obligations Plan assets less than projected benefit obligations Items not yet recognized in pension expense: Actuarial loss Prior service cost (credit) Net amount recognized $ $ $ $ The net amount recognized is included in the Consolidated Balance Sheets at December 31, 2015 and 2014 as follows: U.S. Non-U.S. 2015 2014 2015 2014 Pension assets $ — $ — $ $ Current pension liability, included with Other accrued liabilities Pension benefits Accumulated other comprehensive loss Net amount recognized $ $ $ $ The following changes in plan assets and benefit obligations were recognized in accumulated other comprehensive income at December 31, 2015 and 2014 as follows (amounts are pretax): U.S. Non-U.S. 2015 2014 2015 2014 Current year actuarial (gain) loss $ $ $ $ Amortization of actuarial loss Amortization of prior service credit Curtailment and plan amendment Settlement — Translation $ $ $ $ The accumulated benefit obligation for all defined benefit pension plans was $3,306 million and $3,627 million at December 31, 2015 and 2014, respectively. The components of the net pension expense for the year are as follows: U.S. Non-U.S. 2015 2014 2013 2015 2014 2013 Service cost $ $ $ $ $ $ Interest cost Expected asset return Amortization: Actuarial loss Prior service credit Net amortization Net expense $ $ $ $ $ $ In 2014, the Company amended its salary pension plan in North America to freeze future pension benefits effective January 1, 2016. This action required an obligation remeasurement for the curtailment of benefits, which resulted in a reduction of the Company’s pension expense. Also in 2014, the Company settled a portion of the U.S. Salary Pension Plan pension obligation, which resulted in a settlement charge of $30 million and, in 2013, $8 million of special termination benefits were recorded in discontinued operations . On October 1, 2014, the Company settled the liability associated with its pension plan in the Netherlands , resulting in a settlement charge of approximately $35 million in the fourth quarter of 2014. Non-U.S. pension expense excludes $3 million and $6 milli on of pension settlement costs that were recorded in restructuring expense in 2014 and 2013, respectively. The table above excludes these charges. Amounts that are expected to be amortized from accumulated other comprehensive income into net pension expense during 2016: U.S. Non-U.S. Amortization: Actuarial loss $ $ Prior service cost Net amortization $ $ The following information is for plans with projected and accumulated benefit obligations in excess of the fair value of plan assets at year end: Projected Benefit Obligation Exceeds Accumulated Benefit Obligation Exceeds the Fair Value of Plan Assets the Fair Value of Plan Assets U.S. Non-U.S. U.S. Non-U.S. 2015 2014 2015 2014 2015 2014 2015 2014 Projected benefit obligations $ $ $ $ $ $ $ $ Accumulated benefit obligation Fair value of plan assets The weighted average assumptions used to determine benefit obligations are as follows: U.S. Non-U.S. 2015 2014 2015 2014 Discount rate % % % % Rate of compensation increase % % % % The weighted average assumptions used to determine net periodic pension costs are as follows: U.S. Non-U.S. 2015 2014 2013 2015 2014 2013 Discount rate % % % % % % Rate of compensation increase % % % % % % Expected long-term rate of return on assets % % % % % % Future benefits are assumed to increase in a manner consistent with past experience of the plans, which, to the extent benefits are based on compensation, includes assumed salary increases as presented above. For 2015, the Company’s weighted average expected long-term rate of return on assets was 8.0% for the U.S. plans and 7.21% for the non-U.S. plans. In developing this assumption, the Company evaluated input from its third party pension plan asset consultants, including their review of asset class return expectations and long-term inflation assumptions. The Company also considered its historical 10 -year average return (through December 31, 2014), which was in line with the expected long-term rate of return assumption for 2015. It is the Company’s policy to invest pension plan assets in a diversified portfolio consisting of an array of asset classes within established target asset allocation ranges. The investment risk of the assets is limited by appropriate diversification both within and between asset classes. The assets for the U.S. plans are maintained in a group trust. The U.S. plans hold no individual assets other than the investment in the group trust. The assets of the group trust and the Company’s non-U.S. plans are primarily invested in a broad mix of domestic and international equities, domestic and international bonds, and real estate, subject to the target asset allocation ranges. The assets are managed with a view to ensuring that sufficient liquidity will be available to meet expected cash flow requirements. The investment valuation policy of the Company is to value investments at fair value. All investments are valued at their respective net asset values. Equity securities for which market quotations are readily available are valued at the last reported sales price on their principal exchange on valuation date or official close for certain markets. Fixed income investments are valued by an independent pricing service. Investments in registered investment companies or collective pooled funds are valued at their respective net asset values. Short-term investments are stated at amortized cost, which approximates fair value. The fair value of real estate is determined by periodic appraisals. The Company’s U.S. pension plan assets held in the group trust are classified as Level 2 assets in the fair value hierarchy. The total U.S. plan assets amounted to $1,909 million and $2,190 million as of December 31, 2015 and 2014, respectively. In 2015, the U.S. plan assets consisted of approximately 62% equity securities, 30% debt securities, and 8% real estate. The following table sets forth by level, within the fair value hierarchy, the Company’s non-U.S. pension plan assets at fair value as of December 31, 2015 and 2014: 2015 2014 Target Level 1 Level 2 Level 3 Level 1 Level 2 Level 3 Allocation Cash and cash equivalents $ $ — $ — $ $ — $ — Equity securities - % Debt securities - % Real estate - % Other - % Total assets at fair value $ $ $ $ $ $ The following is a reconciliation of the Company’s pension plan assets recorded at fair value using significant unobservable inputs (Level 3): 2015 2014 Beginning balance $ $ Net increase (decrease) Ending balance $ $ The net increase (decrease) in the fair value of the Company’s Level 3 pension plan assets is primarily due to purchases and sales of unlisted real estate funds. The change in the fair value of Level 3 pension plan assets due to actual return on those assets was immaterial in 2015. In order to maintain minimum funding requirements, the Company is required to make contributions to its defined benefit pension plans of $25 million in 2016. The following estimated future benefit payments, which reflect expected future service, as appropriate, are expected to be paid in the years indicated: Year(s) U.S. Non-U.S. 2016 $ $ 2017 2018 2019 2020 2021-2025 The Company also sponsors several defined contribution plans for all salaried and hourly U.S. employees, and employees in Canada, the U.K., The Netherlands and Australia. Participation is voluntary and participants’ contributions are based on their compensation. The Company matches contributions of participants, up to various limits, in substantially all plans. Company contributions to these plans amounted to $29 million in 2015, $19 million in 2014, and $16 million in 2013. Postretirement Benefits Other Than Pensions The Company provides retiree health care and life insurance benefits covering certain U.S. salaried and hourly employees, and substantially all employees in Canada. Benefits provided by the Company for hourly retirees are determined by collective bargaining. Employees are generally eligible for benefits upon retirement and completion of a specified number of years of creditable service. The Company uses a December 31 measurement date to measure its postretirement benefit obligations. The changes in the postretirement benefit obligations for the year are as follows: U.S. Non-U.S. 2015 2014 2015 2014 Obligations at beginning of year $ $ $ $ Change in benefit obligations: Service cost Interest cost Actuarial (gain) loss, including the effect of changing discount rates Benefit payments Foreign currency translation Other Net change in benefit obligations — Obligations at end of year $ $ $ $ The funded status of the postretirement benefit plans at year end is as follows: U.S. Non-U.S. 2015 2014 2015 2014 Postretirement benefit obligations $ $ $ $ Items not yet recognized in net postretirement benefit cost: Actuarial loss Prior service credit Net amount recognized $ $ $ $ The net amount recognized is included in the Consolidated Balance Sheets at December 31, 2015 and 2014 as follows: U.S. Non-U.S. 2015 2014 2015 2014 Current nonpension postretirement benefit, included with Other accrued liabilities $ $ $ $ Nonpension postretirement benefits Accumulated other comprehensive loss Net amount recognized $ $ $ $ The following changes in benefit obligations were recognized in accumulated other comprehensive income at December 31, 2015 and 2014 as follows (amounts are pretax): U.S. Non-U.S. 2015 2014 2015 2014 Current year actuarial (gain) loss $ $ $ — $ Amortization of actuarial loss Amortization of prior service credit Other adjustments $ $ $ — $ The components of the net postretirement benefit cost for the year are as follows: U.S. Non-U.S. 2015 2014 2013 2015 2014 2013 Service cost $ — $ — $ $ $ $ Interest cost Curtailment gain Amortization: Actuarial loss Prior service credit Net amortization — — — Net postretirement benefit (income) cost $ $ $ $ $ $ Amounts that are expected to be amortized from accumulated other comprehensive income into net postretirement benefit cost during 2016: U.S. Non-U.S. Amortization: Actuarial loss $ $ — Prior service credit Net amortization $ $ — Amortization included in net postretirement benefit cost is based on the average remaining service of employees. The weighted average discount rates used to determine the accumulated postretirement benefit obligation and net postretirement benefit cost are as follows: U.S. Non-U.S. 2015 2014 2013 2015 2014 2013 Accumulated postretirement benefit obligation % % % % % % Net postretirement benefit cost % % % % % % The weighted average assumed health care cost trend rates at December 31 are as follows: U.S. Non-U.S. 2015 2014 2015 2014 Health care cost trend rate assumed for next year % % % % Rate to which the cost trend rate is assumed to decline (ultimate trend rate) % % % % Year that the rate reaches the ultimate trend rate Assumed health care cost trend rates affect the amounts reported for the postretirement benefit plans. A one-percentage-point change in assumed health care cost trend rates would have the following effects: U.S. Non-U.S. 1-Percentage-Point 1-Percentage-Point Increase Decrease Increase Decrease Effect on total of service and interest cost $ — $ — $ $ Effect on accumulated postretirement benefit obligations Amortization included in net postretirement benefit cost is based on the average remaining service of employees. The following estimated future benefit payments, which reflect expected future service, as appropriate, are expected to be paid in the years indicated: Year(s) U.S. Non-U.S. 2016 $ $ 2017 2018 2019 2020 2021 - 2025 Other U.S. hourly retirees receive health and life insurance benefits from a multi-employer trust established by collective bargaining. Payments to the trust as required by the bargaining agreements are based upon specified amounts per hour worked and were $6 million in 2015, $6 million in 2014 and $6 million in 2013. Postretirement health and life benefits for retirees of foreign subsidiaries are generally provided through the national health care programs of the countries in which the subsidiaries are located.

Income Taxes-K

Income Taxes-K	12 Months Ended
	Dec. 31, 2015
Income Taxes
Income Taxes	10. Income Taxes The provision for income taxes was calculated based on the following components of earnings (loss) before income taxes: Continuing operations 2015 2014 2013 U.S. $ $ $ Non-U.S. $ $ $ Discontinued operations 2015 2014 2013 U.S. $ — $ $ Non-U.S. $ $ $ The provision (benefit) for income taxes consists of the following: 2015 2014 2013 Current: U.S. $ $ $ Non-U.S. Deferred: U.S. — — Non-U.S. Total: U.S. Non-U.S. Total for continuing operations Total for discontinued operations — — — $ $ $ A reconciliation of the provision for income taxes based on the statutory U.S. Federal tax rate of 35% to the provision for income taxes is as follows: 2015 2014 2013 Tax provision on pretax earnings from continuing operations at statutory U.S. Federal tax rate $ $ $ Increase (decrease) in provision for income taxes due to: Non-U.S. tax rates Changes in valuation allowance Withholding tax, net Non-deductible acquisition costs U.S. tax on intercompany dividends and interest Tax exempt income Tax law changes Tax credit Other items Provision for income taxes $ $ $ Deferred income taxes reflect: (1) the net tax effects of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes; and (2) carryovers and credits for income tax purposes. Significant components of the Company’s deferred tax assets and liabilities at December 31, 2015 and 2014 are as follows: 2015 2014 Deferred tax assets: Accrued postretirement benefits $ $ Asbestos-related liabilities Foreign tax credit Operating and capital loss carryovers Other credit carryovers Accrued liabilities Pension liability Other Total deferred tax assets Deferred tax liabilities: Property, plant and equipment Intangibles and deferred software Other Total deferred tax liabilities Valuation allowance Net deferred taxes $ $ Deferred taxes are included in the Consolidated Balance Sheets at December 31, 2015 and 2014 as follows: 2015 2014 Prepaid expenses $ — $ Other assets Deferred taxes Net deferred taxes $ $ The Company reviews the likelihood that it will realize the benefit of its deferred tax assets and therefore the need for valuation allowances on a quarterly basis, or whenever events indicate that a review is required. In determining the requirement for a valuation allowance, the historical and projected financial results of the legal entity or consolidated group recording the net deferred tax asset is considered, along with other positive and negative evidence. At December 31, 2015, before valuation allowance, the Company had unused foreign tax credits of $389 million expiring in 2017 through 2025, research tax credits of $14 million expiring from 2019 to 2035, and alternative minimum tax credits of $23 million which do not expire and which will be available to offset future U.S. Federal income tax. Approximately $145 million of the deferred tax assets related to operating and capital loss carryforwards can be carried over indefinitely, with the remaining $290 million expiring between 2016 and 2036. In certain jurisdictions, the Company’s analysis indicates that it has cumulative losses in recent years. This is considered significant negative evidence which is objective and verifiable and, therefore, difficult to overcome. However, the cumulative loss position is not solely determinative and, accordingly, the Company considers all other available positive and negative evidence in its analysis. Based on its analysis, the Company has recorded a valuation allowance for the portion of deferred tax assets where based on the weight of available evidence it is unlikely to realize those deferred tax assets. At December 31, 2015, the Company’s equity in the undistributed earnings of foreign subsidiaries for which income taxes had not been provided approximated $2.5 billion. The Company intends to reinvest these earnings indefinitely in the non-U.S. operations and has not distributed any of these earnings to the U.S. in 2015, 2014 or 2013. It is not practicable to estimate the U.S. and foreign tax which would be payable should these earnings be distributed. Deferred taxes are provided for earnings of non-U.S. jurisdictions when the Company plans to remit those earnings. The Company has recognized tax benefits as a result of incentives in certain non-U.S. jurisdictions which expire in 2016. The Company records a liability for unrecognized tax benefits related to uncertain tax positions. The Company accrues interest and penalties associated with unrecognized tax benefits as a component of its income tax expense. The following is a reconciliation of the Company’s total gross unrecognized tax benefits for the years ended December 31, 2015, 2014 and 2013: 2015 2014 2013 Balance at January 1 $ $ $ Additions and reductions for tax positions of prior years Additions based on tax positions related to the current year Reductions due to the lapse of the applicable statute of limitations Reductions due to settlements Foreign currency translation Balance at December 31 $ $ $ Unrecognized tax benefits, which if recognized, would impact the Company’s effective income tax rate $ $ $ Accrued interest and penalties at December 31 $ $ $ Interest and penalties included in tax expense for the years ended December 31 $ $ $ Based upon the outcome of tax examinations, judicial proceedings, or expiration of statute of limitations, it is reasonably possible that the ultimate resolution of these unrecognized tax benefits may result in a payment that is materially different from the current estimate of the tax liabilities. The Company believes that it is reasonably possible that the estimated liability could decrease up to $47 million within the next 12 months. This is primarily the result of audit settlements or statute expirations in several taxing jurisdictions. The Company is currently under examination in various tax jurisdictions in which it operates, including Argentina, Bolivia, Brazil, China, Canada, Colombia, France, Germany, Indonesia, and Italy. The years under examination range from 2004 through 2013. The Company believes that there are no jurisdictions in which the outcome of unresolved issues or claims is likely to be material to the Company’s results of operations, financial position or cash flows. The Company further believes that adequate provisions for all income tax uncertainties have been made. During 2015, the Company concluded income tax audits in several jurisdictions, including Argentina, Germany, Italy, Peru and Poland.

Debt-K

Debt-K	12 Months Ended
	Dec. 31, 2015
Debt
Debt	11. Debt The following table summarizes the long-term debt of the Company at December 31, 2015 and 2014: 2015 2014 Secured Credit Agreement: Revolving Credit Facility: Revolving Loans $ — $ — Term Loans: Term Loan A Term Loan A (€279 million at December 31, 2015) Term Loan B Previous Secured Credit Agreement: Term Loans: Term Loan B (USD tranche) Term Loan C (CAD tranche) Term Loan D (EUR tranche) Senior Notes: 3.00% , Exchangeable, due 2015 7.375% , due 2016 6.75% , due 2020 (€500 million) 4.875% , due 2021 (€330 million) 5.00% , due 2022 5.875% , due 2023 5.375% , due 2025 6.375% , due 2025 Senior Debentures: 7.80% , due 2018 Capital Leases Other Total long-term debt Less amounts due within one year Long-term debt $ $ On April 22, 2015, certain of the Company’s subsidiaries entered into a new Senior Secured Credit Facility (the “Agreement”), which amended and restated the previous credit agreement (the “Previous Agreement”). The proceeds from the Agreement were used to repay all outstanding amounts under the Previous Agreement and the 7.375% senior notes due 2016. The Company recorded $42 million of additional interest charges for note repurchase premiums and the related write-off of unamortized finance fees in 2015. In connection with the closing of the Vitro Acquisition on September 1, 2015 (see Note 19), the Company entered into Amendment No. 2 (“Amendment No. 2”) to the Agreement, which provided for additional incremental availability under the incremental dollar cap in the Agreement of up to $1,250 million. In addition, in connection with the closing of the Vitro Acquisition, on September 1, 2015, the Company entered into the First Incremental Amendment to the Agreement (the “Incremental Amendment”) pursuant to which the Company incurred $1,250 million of senior secured incremental term loan facilities, comprised of (i) a $675 million term loan A facility (the “incremental term loan A facility”) on substantially the same terms and conditions (including as to maturity) as the term loan A facility in the Agreement and (ii) a $575 million term loan B facility (the “incremental term loan B facility”) maturing seven years after the closing of the Vitro Acquisition using its incremental capacity under the Agreement. At December 31, 2015, the Agreement, as amended by Amendment No. 2 and the Incremental Amendment (the “Amended Agreement”), includes a $300 million revolving credit facility, a $600 million multicurrency revolving credit facility, a $1,575 million term loan A facility ($1,546 million net of debt issuance costs), and a €279 million term loan A facility ($301 million net of debt issuance costs), each of which has a final maturity date of April 22, 2020. The Amended Agreement also includes a $575 million term loan B facility ($563 million net of debt issuance costs) with a final maturity date of September 1, 2022. At December 31, 2015, the Company had unused credit of $87 2 million available under the Amended Agreement. The weighted average interest rate on borrowings outstanding under the Amended Agreement at December 31, 2015 was 2.37% . The Amended Agreement contains various covenants that restrict, among other things and subject to certain exceptions, the ability of the Company to incur certain liens, make certain investments, become liable under contingent obligations in certain defined instances only, make restricted payments, make certain asset sales within guidelines and limits, engage in certain affiliate transactions, participate in sale and leaseback financing arrangements, alter its fundamental business, and amend certain subordinated debt obligations. The Amended Agreement also contains one financial maintenance covenant, a Total Leverage Ratio, that requires the Company as of the last day of a fiscal quarter not to exceed a ratio of 4.0 x calculated by dividing consolidated total debt, less cash and cash equivalents, by consolidated EBITDA, as defined in the Amended Agreement. The maximum Total Leverage Ratio is subject to an increase of 0.5 x for the four fiscal quarters commencing on and following the consummation of certain qualifying acquisitions as defined in the Amended Agreement. In connection with the Vitro Acquisition on September 1, 2015, the Company elected to increase such maximum Total Leverage Ratio to 4.5 x for the four fiscal quarters ending June 30, 2016. The Total Leverage Ratio could restrict the ability of the Company to undertake additional financing or acquisitions to the extent that such financing or acquisitions would cause the Total Leverage Ratio to exceed the specified maximum. On February 3, 2016, the Company entered into Amendment No. 4 (“Amendment No. 4”) to the Amended Agreement, which provided for an increase in the maximum Total Leverage Ratio for purposes of the financial covenant in the Amended Agreement to 5.0x for the fiscal quarters ending March 31, 2016, June 30, 2016 and September 30, 2016, 4.50x for the fiscal quarters ending December 31, 2016, March 31, 2017, June 30, 2017 and September 30, 2017, and stepping back down to 4.0x for the fiscal quarter ending December 31, 2017 and each fiscal quarter ending thereafter. Failure to comply with these covenants and restrictions could result in an event of default under the Amended Agreement as amended by Amendment No. 4. In such an event, the Company could not request borrowings under the revolving facility, and all amounts outstanding under the Amended Agreement, together with accrued interest, could then be declared immediately due and payable. If an event of default occurs under the Amended Agreement as amended by Amendment No. 4 and the lenders cause all of the outstanding debt obligations under the Amended Agreement to become due and payable, this would result in a default under a number of other outstanding debt securities and could lead to an acceleration of obligations related to these debt securities. As of December 31, 2015, the Company was in compliance with all covenants and restrictions in the Amended Agreement. In addition, the Company believes that it will remain in compliance and that its ability to borrow funds under the Amended Agreement as amended by Amendment No. 4 will not be adversely affected by the covenants and restrictions. The interest rates on borrowings under the Amended Agreement are, at the Company’s option, the Base Rate or the Eurocurrency Rate, as defined in the Amended Agreement, plus an applicable margin. The applicable margin for the term loan A facility and the revolving credit facility is linked to the Company’s Total Leverage Ratio and ranges from 1.25% to 1.75% for Eurocurrency Rate loans and from 0.25% to 0.75% for Base Rate loans. In addition, a facility fee is payable on the revolving credit facility commitments ranging from 0.20% to 0.30% per annum linked to the Total Leverage Ratio. The applicable margin for the term loan B facility is 2.75% for Eurocurrency Rate loans and 1.75% for Base Rate loans. The incremental term loan B facility is subject to a LIBOR floor of 0.75 %. Borrowings under the Amended Agreement are secured by substantially all of the assets, excluding real estate and certain other excluded assets, of certain of the Company’s domestic subsidiaries and certain foreign subsidiaries. Borrowings are also secured by a pledge of intercompany debt and equity investments in certain of the Company’s domestic subsidiaries and, in the case of foreign borrowings, of stock of certain foreign subsidiaries. All borrowings under the Amended Agreement are guaranteed by certain domestic subsidiaries of the Company for the term of the Amended Agreement. Also, in connection with the Vitro Acquisition, during August 2015, the Company issued senior notes with a face value of $700 million that bear interest at 5.875% and are due August 15, 2023 (the “Senior Notes due 2023”) and senior notes with a face value of $300 million that bear interest at 6.375% and are due August 15, 2025 (together with the Senior Notes due 2023, the “2015 Senior Notes”). The 2015 Senior Notes were issued via a private placement and are guaranteed by certain of the Company‘s domestic subsidiaries. The net proceeds from the 2015 Senior Notes, after deducting the debt discount and debt issuance costs, totaled approximately $972 million and were used to finance, in part, the Vitro Acquisition. During December 2014, the Company issued senior notes with a face value of $500 million that bear interest at 5.00% and are due January 15, 2022 (the “Senior Notes due 2022”). The Company also issued senior notes with a face value of $300 million that bear interest at 5.375% and are due January 15, 2025 (together with the Senior Notes due 2022, the “2014 Senior Notes”). The 2014 Senior Notes were issued via a private placement and are guaranteed by certain of the Company‘s domestic subsidiaries. The net proceeds from the 2014 Senior Notes, after deducting debt issuance costs, totaled approximately $790 million and were used to purchase in a tender offer $611 million aggregate principal amount of the Company’s 3.00% 2015 Exchangeable Senior Notes. The remaining balance of the Exchangeable Senior Notes was repaid in the second quarter of 2015. The Company has a €185 million European accounts receivable securitization program, which extends through September 2016, subject to periodic renewal of backup credit lines. Information related to the Company’s accounts receivable securitization program as of December 31, 2015 and 2014 is as follows: 2015 2014 Balance (included in short-term loans) $ $ Weighted average interest rate % % The carrying amounts reported for the accounts receivable securitization program, and certain long-term debt obligations subject to frequently redetermined interest rates, approximate fair value. Fair values for the Company’s significant fixed rate debt obligations are based on published market quotations, and are classified as Level 1 in the fair value hierarchy. Annual maturities for all of the Company’s long-term debt through 2020 are as follows: 2016, $68 million; 2017, $ 84 million; 2018, $358 million; 2019, $108 million; and 2020, $ 2,100 million. Fair values at December 31, 2015, of the Company’s significant fixed rate debt obligations are as follows: Principal Indicated Amount Market Price Fair Value Senior Notes: 6.75%, due 2020 (€500 million) $ $ $ 4.875%, due 2021 (€330 million) 5.00%, due 2022 5.875%, due 2023 5.375%, due 2025 6.375%, due 2025 Senior Debentures: 7.80%, due 2018

Contingencies-K

Contingencies-K	12 Months Ended
	Dec. 31, 2015
Contingencies
Contingencies	12. Contingencies Asbestos The Company is a defendant in numerous lawsuits alleging bodily injury and death as a result of exposure to asbestos. From 1948 to 1958, one of the Company's former business units commercially produced and sold approximately $40 million of a high-temperature, calcium-silicate based pipe and block insulation material containing asbestos. The Company exited the insulation business in April 1958. The typical asbestos personal injury lawsuit alleges various theories of liability, including negligence, gross negligence and strict liability and seeks compensatory and, in some cases, punitive damages in various amounts (herein referred to as "asbestos claims"). The following table shows the approximate number of plaintiffs and claimants who had asbestos claims pending against the Company at the beginning of each listed year, the number of claims disposed of during that year, the year’s filings and the claims pending at the end of each listed year (eliminating duplicate filings): 2015 2014 2013 Pending at beginning of year Disposed Filed Pending at end of year Based on an analysis of the lawsuits pending as of December 31, 2015, approximately 82% of plaintiffs either do not specify the monetary damages sought, or in the case of court filings, claim an amount sufficient to invoke the jurisdictional minimum of the trial court. Approximately 11% of plaintiffs specifically plead damages above the jurisdictional minimum up to, and including, $15 million or less, and 7% of plaintiffs specifically plead damages greater than $15 million but less than or equal to $100 million. As indicated by the foregoing summary, current pleading practice permits considerable variation in the assertion of monetary damages. The Company’s experience resolving hundreds of thousands of asbestos claims and lawsuits over an extended period demonstrates that the monetary relief alleged in a complaint bears little relevance to a claim’s merits or disposition value. Rather, the amount potentially recoverable is determined by such factors as the severity of the plaintiff’s asbestos disease, the product identification evidence against the Company and other defendants, the defenses available to the Company and other defendants, the specific jurisdiction in which the claim is made, and the plaintiff’s medical history and exposure to other disease-causing agents. In addition to the pending claims set forth above, the Company has claims-handling agreements in place with many plaintiffs’ counsel throughout the country. These agreements require evaluation and negotiation regarding whether particular claimants qualify under the criteria established by such agreements. The criteria for such claims include verification of a compensable illness and a reasonable probability of exposure to a product manufactured by the Company's former business unit during its manufacturing period ending in 1958. The Company has also been a defendant in other asbestos-related lawsuits or claims involving maritime workers, medical monitoring claimants, co-defendants and property damage claimants. Based upon its past experience, the Company believes that these categories of lawsuits and claims will not involve any material liability and they are not included in the above description of pending matters or in the following description of disposed matters. Since receiving its first asbestos claim, the Company as of December 31, 2015, has disposed of the asbestos claims of approximately 396,000 plaintiffs and claimants at an average indemnity payment per claim of approximately $9,200 . Certain of these dispositions have resulted in deferred amounts payable. Deferred amounts payable totaled approximately $17 million at December 31, 2015 ($13 million at December 31, 2014) and are included in the foregoing average indemnity payment per claim. The Company’s asbestos indemnity payments have varied on a per claim basis, and are expected to continue to vary considerably over time. Asbestos-related cash payments for 2015, 2014 and 2013 were $138 million, $148 million, and $158 million, respectively. As discussed above, the Company’s objective is to achieve, where possible, resolution of asbestos claims pursuant to claims-handling agreements. Failure of claimants to meet certain medical and product exposure criteria in the Company’s administrative claims handling agreements has generally reduced the number of claims that would otherwise have been received by the Company in the tort system. In addition, certain court orders and legislative acts have reduced or eliminated the number of claims that the Company otherwise would have received by the Company in the tort system. These developments generally have had the effect of increasing the Company’s per-claim average indemnity payment over time. The Company believes that its ultimate asbestos-related liability (i.e., its indemnity payments or other claim disposition costs plus related legal fees) cannot reasonably be estimated. Beginning with the initial liability of $975 million established in 1993, the Company has accrued a total of approximately $4.6 billion through 2015, before insurance recoveries, for its asbestos-related liability. The Company’s ability to reasonably estimate its liability has been significantly affected by, among other factors, the volatility of asbestos-related litigation in the United States, the significant number of co-defendants that have filed for bankruptcy, the inherent uncertainty of future disease incidence and claiming patterns against the Company, the significant expansion of the defendants that are now sued in this litigation, and the continuing changes in the extent to which these defendants participate in the resolution of cases in which the Company is also a defendant. The Company continues to monitor trends that may affect its ultimate liability and analyze the developments and variables likely to affect the resolution of pending and future asbestos claims against the Company. The material components of the Company’s accrued liability are determined by the Company in connection with its annual comprehensive legal review and consist of the following estimates, to the extent it is probable that such liabilities have been incurred and can be reasonably estimated: (i) the liability for asbestos claims already asserted against the Company; (ii) the liability for asbestos claims not yet asserted against the Company, but which the Company believes will be asserted in the next four years; and (iii) the legal defense costs estimated to be incurred in connection with the claims already asserted and those claims the Company believes will be asserted in the next four years. As noted above, the Company conducts a comprehensive legal review of its asbestos-related liabilities and costs annually in connection with finalizing and reporting its annual results of operations, unless significant changes in trends or new developments warrant an earlier review. If the results of an annual comprehensive legal review indicate that the existing amount of the accrued liability is insufficient to cover its reasonably estimable asbestos-related costs, then the Company records an appropriate charge to increase the accrued liability. As part of the annual comprehensive legal review, the Company considers the factors that affect its estimated accrued liability, and reconsiders the timeframe used to estimate the liability for asbestos claims not yet asserted against the Company using primarily a qualitative assessment of the state of the asbestos litigation, as well as a quantitative hindsight review. The hindsight review includes an examination of the Company’s prior estimates of the accrual for unasserted claims compared to the estimated value of claims actually received in those periods. Based on its 2015 comprehensive legal review, the Company determined that it was able to reasonably estimate probable losses for asbestos claims not yet asserted against the Company for a period of four years. Therefore, the Company’s charge for 2015 is for a period one year longer than the accrual period determined as reasonably estimable in the annual comprehensive legal reviews conducted since 2003. This is a change in estimate resulting from an assessment of the qualitative and quantitative factors in the Company’s 2015 comprehensive legal review. The Company will continue to evaluate the qualitative factors relating to the litigation and also conduct its annual hindsight reviews to determine the appropriate period of time for which it can reasonably estimate probable losses for unasserted claims. Because part of the Company’s asbestos liability at any year end is an estimate of the asbestos claims and legal defense costs that are expected to be incurred in the time horizon for which it is able to reasonably estimate probable losses, the Company usually expects to record an annual charge to account for the inclusion of one or more additional years in its time horizon. The Company’s reported results of operations for 2015 were materially affected by the $225 million fourth quarter charge for asbestos-related costs and asbestos-related payments continue to be substantial. Given the inherent volatility involved in the asbestos litigation, the Company is unable to provide an estimate of possible loss or range of loss beyond the $522 million recorded as of December 31, 2015. Any future additional charge would likewise materially affect the Company’s results of operations for the period in which it is recorded. Other Matters The Company conducted an internal investigation into conduct in certain of its overseas operations that may have violated the anti-bribery provisions of the United States Foreign Corrupt Practices Act (the “FCPA”), the FCPA’s books and records and internal controls provisions, the Company’s own internal policies, and various local laws. In October 2012, the Company voluntarily disclosed these matters to the U.S. Department of Justice (the “DOJ”) and the Securities and Exchange Commission (the “SEC”). On July 18, 2013, the Company received a letter from the DOJ indicating that it presently did not intend to take any enforcement action and is closing its inquiry into the matter. As disclosed in previous periods, the Company is presently unable to predict the duration, scope or result of an investigation by the SEC, if any, or whether the SEC will commence any legal action. The SEC has a broad range of civil sanctions under the FCPA and other laws and regulations including, but not limited to, injunctive relief, disgorgement, penalties, and modifications to business practices. The Company could also be subject to investigation and sanctions outside the United States. While the Company is currently unable to quantify the impact of any potential sanctions or remedial measures, it does not expect such actions will have a material adverse effect on the Company’s liquidity, results of operations or financial condition. Other litigation is pending against the Company, in many cases involving ordinary and routine claims incidental to the business of the Company and in others presenting allegations that are non-routine and involve compensatory, punitive or treble damage claims as well as other types of relief. The Company records a liability for such matters when it is both probable that the liability has been incurred and the amount of the liability can be reasonably estimated. Recorded amounts are reviewed and adjusted to reflect changes in the factors upon which the estimates are based, including additional information, negotiations, settlements and other events.

Accumulated Other Comprehensive

Accumulated Other Comprehensive Income (Loss)-K	12 Months Ended
	Dec. 31, 2015
Accumulated Other Comprehensive Loss.
Accumulated Other Comprehensive Loss	13. Accumulated Other Comprehensive Income (Loss) The components of comprehensive income are: (a) net earnings; (b) change in fair value of certain derivative instruments; (c) pension and other postretirement benefit adjustments; and (d) foreign currency translation adjustments. The net effect of exchange rate fluctuations generally reflects changes in the relative strength of the U.S. dollar against major foreign currencies between the beginning and end of the year. The following table lists the beginning balance, annual activity and ending balance of each component of accumulated other comprehensive income (loss): Total Accumulated Net Effect of Change in Certain Other Exchange Rate Derivative Employee Comprehensive Fluctuations Instruments Benefit Plans Income (Loss) Balance on January 1, 2014 $ $ $ $ Change before reclassifications Amounts reclassified from accumulated other comprehensive income (a) (b) Translation effect Tax effect Other comprehensive income (loss) attributable to the Company Balance on December 31, 2014 Change before reclassifications Amounts reclassified from accumulated other comprehensive income (a) (b) Translation effect Tax effect Other comprehensive income (loss) attributable to the Company Balance on December 31, 2015 $ $ $ $ (a) Amount is included in Cost of goods sold on the Consolidated Results of Operations (see Note 7 for additional information). (b) Amount is included in the computation of net periodic pension cost and net postretirement benefit cost (see Note 9 for additional information).

Stock Options and Other Stock B

Stock Options and Other Stock Based Compensation-K	12 Months Ended
	Dec. 31, 2015
Stock Options and Other Stock Based Compensation
Stock Options and Other Stock Based Compensation	14. Stock Options and Other Stock Based Compensation The Company has various nonqualified plans approved by share owners under which it has granted stock options, restricted shares and performance vested restricted share units. At December 31, 2015, there were 8,892,000 shares available for grants under these plans. Total compensation cost for all grants of shares and units under these plans was $15 million, $21 million and $11 million for the years ended December 31, 2015, 2014 and 2013, respectively. Stock Options In general, subject to change in control, options become exercisable 25% per year beginning on the first anniversary of grant. No options may be exercised in whole or in part during the first year after the date granted. In general, options expire following termination of employment or the seven th anniversary of the option grant. The fair value of options is amortized over the vesting periods which range from one to four years. Stock option information at December 31, 2015 and for the year then ended is as follows: Weighted Weighted Average Average Remaining Number of Exercise Contractual Aggregate Shares Price Term Intrinsic (thousands) (per share) (years) Value Options outstanding at January 1, 2015 $ Granted Exercised Forfeited or expired Options outstanding at December 31, 2015 $ Options vested or expected to vest at December 31, 2015 $ $ Options exercisable at December 31, 2015 $ $ Certain additional information related to stock options is as follows for the periods indicated: 2015 2014 2013 Weighted average grant-date fair value of options granted (per share) $ $ $ Aggregate intrinsic value of options exercised $ — $ $ Aggregate cash received from options exercised $ $ $ The fair value of each option grant is estimated on the date of grant using the Black-Scholes option pricing model using the following weighted average assumptions: 2015 2014 2013 Expected life of options (years) Expected stock price volatility % % % Risk-free interest rate % % % Expected dividend yield % % % The expected life of options is determined from historical exercise and termination data. The expected stock price volatility is determined by reference to historical prices over a period equal to the expected life. Restricted Shares and Restricted Share Units Shares granted after March 21, 2005 and prior to 2011, vest 25% per year beginning on the first anniversary and unvested shares are forfeited upon termination of employment. Restricted share units granted to employees after 2010 vest 25% per year beginning on the first anniversary. Holders of vested restricted share units receive one share of the Company’s common stock for each unit. Granted but unvested restricted share units are forfeited upon termination, unless certain retirement criteria are met. Restricted share units granted to directors vest after one year. The fair value of the restricted shares and restricted share units is equal to the market price of the Company’s common stock on the date of the grant. The fair value of restricted shares and restricted share units granted after March 21, 2005, is amortized over the vesting periods which range from one to four years. The activity of restricted shares and restricted share units is as follows: Weighted Number of Average Restricted Grant-Date Shares Fair Value (thousands) (per share) Nonvested at January 1, 2015 $ Granted Vested Forfeited Nonvested at December 31, 2015 Awards granted during 2014 $ Awards granted during 2013 $ 2015 2014 2013 Total fair value of shares vested $ $ $ Performance Vested Restricted Share Units Performance vested restricted share units vest on January 1 of the third year following the year in which they are granted. Holders of vested units may receive up to 2 shares of the Company’s common stock for each unit, depending upon the attainment of consolidated performance goals established by the Compensation Committee of the Company’s Board of Directors. If minimum goals are not met, no shares will be issued. Granted but unvested restricted share units are forfeited upon termination of employment, unless certain retirement criteria are met. The fair value of each performance vested restricted share unit is equal to the product of the fair value of the Company’s common stock on the date of grant and the estimated number of shares into which the performance vested restricted share unit will be converted. The fair value of performance vested restricted share units is amortized ratably over the vesting period. Should the estimated number of shares into which the performance vested restricted share unit will be converted change, an adjustment will be recorded to recognize the accumulated difference in amortization between the revised and previous estimates. Performance vested restricted share unit activity is as follows: Number of Performance Weighted Average Vested Restricted Shares Grant-Date Fair Value Units (thousands) (per unit) Nonvested at January 1, 2015 $ Granted Vested Forfeited/Cancelled Nonvested at December 31, 2015 Awards granted during 2014 $ Awards granted during 2013 $ Approximately 331,000 shares were issued in 2015 with a fair value at issuance date of $8 million related to performance vested restricted share units. As of December 31, 2015, there was $15 million of total unrecognized compensation cost related to all unvested stock options, restricted shares, restricted share units and performance vested restricted share units. That cost is expected to be recognized over a weighted average period of approximately two years.

Other Expense, net-K

Other Expense, net-K	12 Months Ended
	Dec. 31, 2015
Other Expense
Other Expense	15. Other Expense, net Other expense, net for the year s ended December 31, 2015, 2014, and 2013 included the following: 2015 2014 2013 Restructuring, asset impairment and other charges $ $ $ Charge for asbestos related costs Strategic transaction costs Acquisition-related fair value intangible adjustments Non-income tax charge Charge for Argentina impairment Foreign currency exchange loss (gain) Other expense (income) $ $ $ In 2014, the Company recorded a charge of $69 million resulting from a non-income tax assessment from a foreign tax authority.

Operating Leases-K

Operating Leases-K	12 Months Ended
	Dec. 31, 2015
Operating Leases
Operating Leases	16. Operating Leases Rent expense attributable to all warehouse, office buildings and equipment operating leases was $72 million in 2015, $63 million in 2014, and $57 million in 2013. Minimum future rentals under operating leases are as follows: 2016, $82 million; 2017, $78 million; 2018, $73 million; 2019, $65 million; 2020, $65 million; and 2021 and thereafter, $42 million.

Earnings Per Share-K

Earnings Per Share-K	12 Months Ended
	Dec. 31, 2015
Earnings Per Share
Earnings Per Share	17. Earnings Per Share The following table sets forth the computation of basic and diluted earnings per share: 2015 2014 2013 Numerator: Net earnings (loss) attributable to the Company $ $ $ Denominator (in thousands): Denominator for basic earnings per share-weighted average shares outstanding Effect of dilutive securities: Stock options and other — Denominator for diluted earnings per share-adjusted weighted average shares outstanding Basic earnings (loss) per share: Earnings (loss) from continuing operations $ $ $ Loss from discontinued operations Net earnings (loss) $ $ $ Diluted earnings (loss) per share: Earnings (loss) from continuing operations $ $ $ Loss from discontinued operations Net earnings (loss) $ $ $ Options to purchase 1,143,933 and 1,315,216 weighted average shares of common stock which were outstanding during 2014 and 2013, respectively, were not included in the computation of diluted earnings per share because the options’ exercise price was greater than the average market price of the common shares. For the year ended December 31, 2015, diluted earnings per share of common stock was equal to basic earnings per share of common stock due to the loss from continuing operations. On February 4, 2015, the Company entered into an accelerated share repurchase agreement (“ASR”) with J.P. Morgan Securities LLC (the “ASR Counterparty”) to repurchase $100 million of its common stock. The Company advanced $100 million to the ASR Counterparty on February 5, 2015, and received 3,509,496 shares, which represented eighty five percent of the total shares as calculated using the closing price on February 4, 2015. The remaining share settlement was received from the ASR Counterparty in the amount of 599,760 shares and was completed on May 26, 2015 based on the daily volume-weighted average price of the Company’s common stock during the term of the ASR. Under the terms of the ASR program, the ASR Counterparty was permitted, in accordance with the applicable requirements of the federal securities laws, to separately trade in the Company’s shares.

Supplemental Cash Flow Informat

Supplemental Cash Flow Information-K	12 Months Ended
	Dec. 31, 2015
Supplemental Cash Flow Information
Supplemental Cash Flow Information	18. Supplemental Cash Flow Information Changes in the components of working capital related to operations (net of the effects related to acquisitions and divestitures) were as follows: 2015 2014 2013 Decrease (increase) in current assets: Receivables $ $ $ Inventories Prepaid expenses and other Increase (decrease) in current liabilities: Accounts payable Accrued liabilities Salaries and wages U.S. and foreign income taxes $ $ $ The Company uses various factoring programs to sell certain receivables to financial institutions as part of managing its cash flows. At December 31, 2015 and 2014, the amount of receivables sold by the Company was $317 million and $276 million, respectively. Any continuing involvement with the sold receivables is immaterial. 2015 2014 2013 Interest paid in cash $ $ $ Income taxes paid in cash (all non-U.S) Cash interest for the years ended December 31, 2015, 2014 and 2013 includes $32 million, $9 million and $12 million of note repurchase premiums, respectively.

Business Combinations-K

Business Combinations-K	12 Months Ended
	Dec. 31, 2015
Business Combinations
Business Combinations	19. Business Combinations On September 1, 2015, the Company completed the Vitro Acquisition in a cash transaction valued at approximately $2.297 billion, subject to a working capital adjustment and certain other adjustments. The Vitro Business in Mexico is the largest supplier of glass containers in that country, manufacturing glass containers across multiple end uses, including food, soft drinks, beer, wine and spirits. The Vitro Acquisition included five food and beverage glass container plants in Mexico, a plant in Bolivia and a North American distribution business, and provided the Company with a competitive position in the glass packaging market in Mexico. The results of the Vitro Business have been included in the Company’s consolidated financial statements since September 1, 2015 and contributed approximately $258 million of net sales and $46 million of segment operating profit through December 31, 2015. Vitro’s food and beverage glass container operations in Mexico and Bolivia are included in the Latin American operating segment while its distribution business is included in the North American operating segment. The Company financed the Vitro Acquisition with the proceeds from its recently completed senior notes offering, cash on hand and the incremental term loan facilities (see Note 11). The total purchase price will be allocated to the tangible and identifiable intangible assets and liabilities based upon their respective fair values. The purchase agreement contains customary provisions for working capital adjustments, which the Company expects to resolve with the seller in the first half of 2016. The purchase price allocation has not been finalized as of December 31, 2015, because the Company has not yet completed its review of the asset and liability values and related amortization and depreciation periods. The Company expects that the purchase price allocation process will be completed no later than the third quarter of 2016. The following table summarizes the preliminary estimates of fair value of the assets and liabilities assumed on September 1, 2015 and subsequent adjustments identified through the ongoing purchase price allocation process and recorded through the measurement period: September 1, 2015 Measurement Period Adjustments December 31, 2015 Cash $ $ — $ Other current assets Goodwill Customer list intangibles Net property, plant and equipment Total assets — Current liabilities Long-term debt Long-term liabilities Net assets acquired $ $ — $ The fair value of the tangible assets was estimated utilizing income and market approaches , considering remaining useful life. The customer list intangible asset includes the Company’s established relationships with its customers and the ability of these customers to generate future economic profits for the Company. The value assigned to customer list intangibles is based on the present value of future earnings attributable to the asset group after recognition of required returns to other contributory assets. Recognized goodwill is attributable to the assembled workforce, expected synergies and other intangible assets that do not qualify for separate recognition. The Vitro Acquisition goodwill is not deductible for tax purposes. The provisional balance sheet adjustments identified above did not result in any significant adjustments to the previous period’s income statement.

Pro Forma Information _ Vitro A

Pro Forma Information – Vitro Acquisition-K	12 Months Ended
	Dec. 31, 2015
Pro Forma Information – Vitro Acquisition
Pro Forma Information – Vitro Acquisition	20. Pro Forma Information – Vitro Acquisition Had the Vitro Acquisition, described in Note 19 and the related financing described in Note 11, occurred at the beginning of each respective period, unaudited pro forma consolidated net sales, earnings from continuing operations and earnings from continuing operations per share of common stock (diluted) would have been as follows: Year Ending December 31, 2015 As Acquisition Financing Pro Forma Reported Adjustments Adjustments As Adjusted Net sales $ $ $ — $ Earnings (loss) from continuing operations attributable to the Company $ $ $ $ Diluted earnings (loss) per share from continuing operations $ $ Year Ending December 31, 2014 As Acquisition Financing Pro Forma Reported Adjustments Adjustments As Adjusted Net sales $ $ $ — $ Earnings from continuing operations attributable to the Company $ $ $ $ Diluted earnings per share from continuing operations $ $

Discontinued Operations-K

Discontinued Operations-K	12 Months Ended
	Dec. 31, 2015
Discontinued Operations
Discontinued Operations	21. Discontinued Operations On March 10, 2015, a tribunal constituted under the auspices of the International Centre for Settlement of Investment Disputes (“ICSID”) awarded a subsidiary of the Company more than $455 million in an international arbitration against Venezuela related to the 2010 expropriation of the Company’s majority interest in two plants in that country. On July 10, 2015, ICSID confirmed that it had received from Venezuela a petition to annul the award. The annulment process can take up to several years to complete. The Company is unable at this stage to predict the amount or timing of compensation it will ultimately receive under the award. Therefore, the Company has not recognized this award in its financial statements. A separate arbitration is pending with ICSID to obtain compensation primarily for third-party minority shareholders’ lost interests in the two expropriated plants. The loss from discontinued operations of $4 million for the year ended December 31, 2015 relates to ongoing costs for the Venezuelan expropriation. The loss from discontinued operations of $23 million for the year ended December 31, 2014 included a settlement of a dispute with a purchaser of a previously disposed business, as well as ongoing costs related to the Venezuelan expropriation. The loss from discontinued operations of $18 million for the year ended December 31, 2013 included special termination benefits related to a previously disposed business, as well as ongoing costs related to the Venezuelan expropriation.

SCHEDULE II - VALUATION AND QUA

SCHEDULE II - VALUATION AND QUALIFYING ACCOUNTS (CONSOLIDATED)-K	12 Months Ended
	Dec. 31, 2015
SCHEDULE II - VALUATION AND QUALIFYING ACCOUNTS (CONSOLIDATED)
SCHEDULE II - VALUATION AND QUALIFYING ACCOUNTS (CONSOLIDATED)	OWENS-ILLINOIS, INC. SCHEDULE II – VALUATIO N AND QUALIFYING ACCOUNTS (CONSOLIDATED) Years ended December 31, 2015, 2014, and 2013 (Millions of Dollars) Reserves deducted from assets in the balance sheets: Allowances for losses and discounts on receivables Additions Balance at Charged to Balance beginning costs and Deductions at end of of period expenses Other (Note 1) period 2015 $ $ $ $ $ 2014 $ $ $ $ $ 2013 $ $ $ $ $ (1) Deductions from allowances for losses and discounts on receivables represent uncollectible notes and accounts written off. Valuation allowance on net deferred tax assets Balance at Charged to other Balance at beginning of Charged to comprehensive Foreign currency end of period income income translation Other period 2015 $ $ $ $ $ $ 2014 $ $ $ $ $ $ 2013 $ $ $ $ $ $

Significant Accounting Polici31

Significant Accounting Policies (Policies)-K	12 Months Ended
	Dec. 31, 2015
Significant Accounting Policies
Basis of Consolidated Statements	Basis of Consolidated Statements The consolidated financial statements of Owens-Illinois, Inc. (the “Company”) include the accounts of its subsidiaries. Newly acquired subsidiaries have been included in the consolidated financial statements from dates of acquisition. The Company uses the equity method of accounting for investments in which it has a significant ownership interest, generally 20% to 50% . Other investments are accounted for at cost. The Company monitors other than temporary declines in fair value and records reductions in carrying values when appropriate.
Nature of Operations	Nature of Operations The Company is a leading manufacturer of glass container products. The Company’s principal product lines are glass containers for the food and beverage industries. The Company has glass container operations located in 23 countries. The principal markets and operations for the Company’s products are in Europe, North America, Latin America and Asia Pacific.
Use of Estimates	Use of Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States requires management of the Company to make estimates and assumptions that affect certain amounts reported in the financial statements and accompanying notes. Actual results may differ from those estimates, at which time the Company would revise its estimates accordingly.
Foreign Currency Translation	Foreign Currency Translation The assets and liabilities of non-U.S. subsidiaries are translated into U.S. dollars at year-end exchange rates. Any related translation adjustments are recorded in accumulated other comprehensive income in share owners’ equity.
Revenue Recognition	Revenue Recognition The Company recognizes sales, net of estimated discounts and allowances, when the title to the products and risk of loss are transferred to customers. Provisions for rebates to customers are provided in the same period that the related sales are recorded.
Shipping and Handling Costs	Shipping and Handling Costs Shipping and handling costs are included with cost of goods sold in the Consolidated Results of Operations.
Stock-Based Compensation	Stock -Based Compensation The Company has various stock-based compensation plans consisting of stock option grants and restricted share awards. Costs resulting from all share-based compensation plans are required to be recognized in the financial statements. A public entity is required to measure the cost of employee services received in exchange for an award of equity instruments based on the grant-date fair value of the award. That cost is recognized over the required service period (usually the vesting period). No compensation cost is recognized for equity instruments for which employees do not render the required service.
Cash	Cash The Company defines “cash” as cash and time deposits with maturities of three months or less when purchased. Outstanding checks in excess of funds on deposit are included in accounts payable.
Accounts Receivable and Allowance for Doubtful Accounts	Accounts Receivable Receivables are stated at amounts estimated by management to be the net realizable value. The Company charges off accounts receivable when it becomes apparent based upon age or customer circumstances that amounts will not be collected. Allowance for Doubtful Accounts The allowance for doubtful accounts is established through charges to the provision for bad debts. The Company evaluates the adequacy of the allowance for doubtful accounts on a periodic basis. The evaluation includes historical trends in collections and write-offs, management’s judgment of the probability of collecting accounts and management’s evaluation of business risk.
Inventory Valuation	Inventory Valuation Inventories are valued at the lower of average costs or market.
Goodwill	Goodwill Goodwill represents the excess of cost over fair value of net assets of businesses acquired. Goodwill is evaluated annually, as of October 1, for impairment or more frequently if an impairment indicator exists.
Intangible Assets and Other Long-Lived Assets	Intangible Assets and Other Long-Lived Assets Intangible assets are amortized over the expected useful life of the asset. Amortization expense directly attributed to the manufacturing of the Company’s products is included in cost of goods sold. Amortization expense related to non-manufacturing activities is included in selling and administrative and other. The Company evaluates the recoverability of intangible assets and other long-lived assets based on undiscounted projected cash flows, excluding interest and taxes, when factors indicate that impairment may exist. If impairment exists, the asset is written down to fair value.
Property, Plant and Equipment	Property, Plant and Equipment Property, plant and equipment (“PP&E”) is carried at cost and includes expenditures for new facilities and equipment and those costs which substantially increase the useful lives or capacity of existing PP&E. In general, depreciation is computed using the straight-line method and recorded over the estimated useful life of the asset. Factory machinery and equipment is depreciated over periods ranging from 5 to 25 years with the majority of such assets (principally glass-melting furnaces and forming machines) depreciated over 7 to 15 years. Buildings and building equipment are depreciated over periods ranging from 10 to 50 years. Depreciation expense directly attributed to the manufacturing of the Company’s products is included in cost of goods sold. Depreciation expense related to non-manufacturing activities is included in selling and administrative. Depreciation expense includes the amortization of assets recorded under capital leases. Maintenance and repairs are expensed as incurred. Costs assigned to PP&E of acquired businesses are based on estimated fair values at the date of acquisition. The Company evaluates the recoverability of PP&E based on undiscounted projected cash flows, excluding interest and taxes, when factors indicate that impairment may exist. If impairment exists, the asset is written down to fair value.
Derivative Instruments	Derivative Instruments The Company uses forward exchange contracts, options and commodity forward contracts to manage risks generally associated with foreign exchange rate and commodity market volatility. Derivative financial instruments are included on the balance sheet at fair value. When appropriate, derivative instruments are designated as and are effective as hedges, in accordance with accounting principles generally accepted in the United States. If the underlying hedged transaction ceases to exist, all changes in fair value of the related derivatives that have not been settled are recognized in current earnings. The Company does not enter into derivative financial instruments for trading purposes and is not a party to leveraged derivatives. Cash flows from short-term forward exchange contracts not designated as hedges are classified as a financing activity. Cash flows of commodity forward contracts are classified as operating activities.
Fair Value Measurements	Fair Value Measurements Fair value is defined as the amount that would be received to sell an asset or paid to transfer a liability in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants. Generally accepted accounting principles defines a three-tier fair value hierarchy, which prioritizes the inputs used in measuring fair value as follows: Level 1: Observable inputs such as quoted prices in active markets; Level 2: Inputs, other than quoted prices in active markets, that are observable either directly or indirectly; and Level 3: Unobservable inputs for which there is little or no market data, which requires the Company to develop assumptions. The carrying amounts reported for cash and short-term loans approximate fair value. In addition, carrying amounts approximate fair value for certain long-term debt obligations subject to frequently redetermined interest rates. Fair values for the Company’s significant fixed rate debt obligations are generally based on published market quotations. The Company’s derivative assets and liabilities consist of natural gas forwards and foreign exchange option and forward contracts. The Company uses an income approach to valuing these contracts. Natural gas forward rates and foreign exchange rates are the significant inputs into the valuation models. These inputs are observable in active markets over the terms of the instruments the Company holds, and accordingly, the Company classifies its derivative assets and liabilities as Level 2 in the hierarchy. The Company also evaluates counterparty risk in determining fair values.
Reclassifications	Reclassifications Certain reclassifications of prior years’ data have been made to conform to the current year presentation. New Accounting Standards
New Accounting Standards	Revenue from Contracts with Customers - In May 2014, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") No. 2014-09, "Revenue from Contracts with Customers", which requires an entity to recognize the amount of revenue to which it expects to be entitled for the transfer of promised goods or services to customers. In August 2015, the FASB issued ASU No. 2015-14, “Revenue from Contracts with Customers”, which delayed by one year the effective date of the new revenue recognition standard, which will be effective for the Company on January 1, 2018. The Company is currently evaluating the effect this standard will have on its consolidated financial statements and related disclosures. The Company has not yet selected a transition method nor determined the effect of the standard on its ongoing financial reporting. Presentation of Debt Issuance Costs - In April 2015, the FASB issued ASU No. 2015-03, "Simplifying the Presentation of Debt Issuance Costs." This standard amends existing guidance to require the presentation of debt issuance costs in the balance sheet as a deduction from the carrying amount of the related debt liability instead of a deferred charge (asset). In the third quarter 2015, the Company elected to adopt this new guidance. As a result of the adoption of ASU No. 2015-03 certain prior year amounts have been reclassified for consistency with the current period presentation. These reclassifications had no effect on the reported results of operations for any period. Previously, the Company had classified these debt issuance costs as an asset in “other assets”. Accordingly, the Company has revised the classification to report these debt issuance costs under the “long-term debt” caption on the balance sheet. For the period ended December 31, 2014, the total of debt issuance costs that was previously classified as “other assets” was $15 million. Business Combinations – In September 2015, the FASB issued ASU No. 2015-16, “Simplifying the Accounting for Measurement-Period Adjustments”. This standard allows for the acquirer to recognize adjustments to provisional amounts that are identified during the measurement period in the reporting periods in which the adjustment amounts are determined. The Company elected to adopt this new guidance as of the third quarter of 2015. Deferred Taxes – In November 2015, the FASB issued ASU No. 2015-17, “Balance Sheet Classification of Deferred Taxes”. This standard requires that all deferred tax assets and liabilities, along with any related valuation allowance, be classified as noncurrent on the balance sheet. The Company elected to adopt this new guidance prospectively in the fourth quarter of 2015. Prior periods were not retrospectively adjusted.

Segment Information (Tables)-K

Segment Information (Tables)-K	12 Months Ended
	Dec. 31, 2015
Segment Information
Net sales for the Company's reportable segments	2015 2014 2013 Net sales: Europe $ $ $ North America Latin America Asia Pacific Reportable segment totals Other Net sales $ $ $
Segment operating profit (loss) for the Company's reportable segments	2015 2014 2013 Segment operating profit: Europe $ $ $ North America Latin America Asia Pacific Reportable segment totals Items excluded from segment operating profit: Retained corporate costs and other Charge for asbestos-related costs Restructuring, asset impairment and other charges Strategic transaction costs Acquisition-related fair value inventory adjustments Acquisition-related fair value intangible adjustments Non-income tax charge Pension settlement charges Interest expense, net Earnings from continuing operations before income taxes $ $ $
Total assets for the Company's reportable segments	Reportable Retained Consoli- North Latin Asia Segment Corp Costs dated Europe America America Pacific Totals and Other Totals Total assets: 2015 $ $ $ $ $ $ $ 2014 2013 Equity investments: 2015 $ $ $ — $ $ $ $ 2014 2013 Equity earnings: 2015 $ $ $ — $ $ $ $ 2014 2013 Capital expenditures: 2015 $ $ $ $ $ $ $ 2014 2013 Depreciation and amortization expense: 2015 $ $ $ $ $ $ $ 2014 2013
Schedule of segment information by geographic segment	The Company’s net property, plant and equipment by geographic segment are as follows: U.S. Non-U.S. Total 2015 $ $ $ 2014 2013 The Company’s net sales by geographic segment are as follows: U.S. Non-U.S. Total 2015 $ $ $ 2014 2013

Inventories (Tables)-K

Inventories (Tables)-K	12 Months Ended
	Dec. 31, 2015
Inventories
Major classes of inventory	2015 2014 Finished goods $ $ Raw materials Operating supplies $ $

Equity Investments (Tables)-K

Equity Investments (Tables)-K	12 Months Ended
	Dec. 31, 2015
Equity Investments
Company's ownership percentage in affiliates	At December 31, 2015 the Company’s ownership percentage in affiliates include: O-I Ownership Affiliates Percentage Business Type BJC O-I Glass Pte. Ltd. % Glass container manufacturer CO Vidrieria SARL ("COV") % Glass container manufacturer Rocky Mountain Bottle Company % Glass container manufacturer Tata Chemical (Soda Ash) Partners % Soda ash supplier Vetrerie Meridionali SpA ("VeMe") % Glass container manufacturer Vetri Speciali SpA % Specialty glass manufacturer
Equity in earnings	2015 2014 2013 Equity in earnings: Non-U.S. $ $ $ U.S. Total $ $ $ Dividends received $ $ $
Summary of balance sheet information of equity investments	2015 2014 At end of year: Current assets $ $ Non-current assets Total assets Current liabilities Other liabilities and deferred items Total liabilities and deferred items Net assets $ $
Summary of income statement information of equity investments	For the year: 2015 2014 2013 Net sales $ $ $ Gross profit $ $ $ Net earnings $ $ $

Goodwill (Tables)-K

Goodwill (Tables)-K	12 Months Ended
	Dec. 31, 2015
Goodwill
Schedule of changes in carrying amount of goodwill	North Latin Europe America America Other Total Balance as of January 1, 2013 $ $ $ $ $ Translation effects Balance as of December 31, 2013 Translation effects Balance as of December 31, 2014 Acquisitions Translation effects Balance as of December 31, 2015 $ $ $ $ $
Schedule of definite-lived intangible assets	As of December 31, 2015 Gross Carrying Amount Accumulated Amortization Translation Effects Net Carrying Amount Definite-lived intangible assets Customer list intangibles $ $ $ $

Prepaid Expenses and Other Asse

Prepaid Expenses and Other Assets (Tables)-K	12 Months Ended
	Dec. 31, 2015
Other Assets
Schedule of Prepaid expenses and other current assets	2015 2014 Prepaid expenses $ $ Value added taxes Other $ $
Schedule of other assets (noncurrent)	Other assets (noncurrent) consist of the following at December 31, 2015 and 2014: 2015 2014 Deferred tax assets $ $ Deferred returnable packaging costs Repair part inventories Capitalized software Value added taxes Deferred finance fees Other $ $

Derivative Instruments (Tables)

Derivative Instruments (Tables)-K	12 Months Ended
	Dec. 31, 2015
Derivative Instruments
Effect of commodity futures contracts designated as cash flow hedges on the results of operations	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) 2015 2014 2013 2015 2014 2013 $ $ $ $ (1) $ 2 $
Effect of the foreign exchange contracts not designated as hedging instruments on the results of operations	Amount of Gain (Loss) Location of Gain (Loss) Recognized in Income on Recognized in Income on Foreign Exchange Contracts Foreign Exchange Contracts 2015 2014 2013 Other expense $ $ $
Balance Sheet Classification of derivative instruments	Fair Value Balance Sheet Location 2015 2014 Asset Derivatives: Derivatives not designated as hedging instruments: Forward exchange derivative contracts a $ $ Total asset derivatives $ $ Liability Derivatives: Derivatives designated as hedging instruments: Commodity futures contracts c $ $ — Derivatives not designated as hedging instruments: Forward exchange derivative contracts c Total liability derivatives $ $

Restructuring Accruals, Asset38

Restructuring Accruals, Asset Impairments and Other Costs Related to Closed Facilities (Tables)-K	12 Months Ended
	Dec. 31, 2015
Restructuring Accruals, Asset Impairments and Other Costs Related to Closed Facilities
Selected information related to the restructuring accruals	European Other Asset Asia Pacific Restructuring Total Optimization Restructuring Actions Restructuring Balance at January 1, 2014 $ $ $ $ 2014 charges Write-down of assets to net realizable value Net cash paid, principally severance and related benefits Pension charges transferred to other accounts Other, including foreign exchange translation Balance at December 31, 2014 2015 charges Write-down of assets to net realizable value Net cash paid, principally severance and related benefits Other, including foreign exchange translation Balance at December 31, 2015 $ $ $ $

Pensions Benefit Plans and Othe

Pensions Benefit Plans and Other Postretirement Benefits (Tables)-K	12 Months Ended
	Dec. 31, 2015
Pension Benefit Plans
Defined Benefit Plans and Other Postretirement Benefit Plans
Changes in the benefit obligations	U.S. Non-U.S. 2015 2014 2015 2014 Obligations at beginning of year $ $ $ $ Change in benefit obligations: Service cost Interest cost Actuarial (gain) loss, including the effect of change in discount rates Curtailment, settlement, and plan amendment Acquisitions Participant contributions Benefit payments Other Foreign currency translation Net change in benefit obligations Obligations at end of year $ $ $ $
Changes in the fair value of the pension plans' assets	U.S. Non-U.S. 2015 2014 2015 2014 Fair value at beginning of year $ $ $ $ Change in fair value: Actual gain (loss) on plan assets Benefit payments Employer contributions Participant contributions Settlements Acquisitions Foreign currency translation Other Net change in fair value of assets Fair value at end of year $ $ $ $
Funded status	U.S. Non-U.S. 2015 2014 2015 2014 Plan assets at fair value $ $ $ $ Projected benefit obligations Plan assets less than projected benefit obligations Items not yet recognized in pension expense: Actuarial loss Prior service cost (credit) Net amount recognized $ $ $ $
Net amount recognized included in the Consolidated Balance Sheets	U.S. Non-U.S. 2015 2014 2015 2014 Pension assets $ — $ — $ $ Current pension liability, included with Other accrued liabilities Pension benefits Accumulated other comprehensive loss Net amount recognized $ $ $ $
Changes in plan assets and/or benefit obligations recognized in accumulated other comprehensive income	U.S. Non-U.S. 2015 2014 2015 2014 Current year actuarial (gain) loss $ $ $ $ Amortization of actuarial loss Amortization of prior service credit Curtailment and plan amendment Settlement — Translation $ $ $ $
Components of net periodic pension cost (income) and net periodic postretirement (benefit) cost	U.S. Non-U.S. 2015 2014 2013 2015 2014 2013 Service cost $ $ $ $ $ $ Interest cost Expected asset return Amortization: Actuarial loss Prior service credit Net amortization Net expense $ $ $ $ $ $
Amounts amortized from accumulated other comprehensive income during 2015	U.S. Non-U.S. Amortization: Actuarial loss $ $ Prior service cost Net amortization $ $
Information for plans with projected and accumulated benefit obligations in excess of the fair value of plan assets	Projected Benefit Obligation Exceeds Accumulated Benefit Obligation Exceeds the Fair Value of Plan Assets the Fair Value of Plan Assets U.S. Non-U.S. U.S. Non-U.S. 2015 2014 2015 2014 2015 2014 2015 2014 Projected benefit obligations $ $ $ $ $ $ $ $ Accumulated benefit obligation Fair value of plan assets
Weighted average assumptions used to determine benefit obligations and net periodic pension costs for pension plans, and accumulated postretirement benefit obligation and net postretirement benefit cost for postretirement plans	Projected Benefit Obligation Exceeds Accumulated Benefit Obligation Exceeds the Fair Value of Plan Assets the Fair Value of Plan Assets U.S. Non-U.S. U.S. Non-U.S. 2015 2014 2015 2014 2015 2014 2015 2014 Projected benefit obligations $ $ $ $ $ $ $ $ Accumulated benefit obligation Fair value of plan assets The weighted average assumptions used to determine benefit obligations are as follows: U.S. Non-U.S. 2015 2014 2015 2014 Discount rate % % % % Rate of compensation increase % % % % The weighted average assumptions used to determine net periodic pension costs are as follows: U.S. Non-U.S. 2015 2014 2013 2015 2014 2013 Discount rate % % % % % % Rate of compensation increase % % % % % % Expected long-term rate of return on assets % % % % % %
Fair values of defined benefit pension plan assets and target allocations	2015 2014 Target Level 1 Level 2 Level 3 Level 1 Level 2 Level 3 Allocation Cash and cash equivalents $ $ — $ — $ $ — $ — Equity securities - % Debt securities - % Real estate - % Other - % Total assets at fair value $ $ $ $ $ $
Reconciliation of pension plan assets recorded at fair value using significant unobservable inputs (Level 3)	2015 2014 Beginning balance $ $ Net increase (decrease) Ending balance $ $
Estimated future benefit payments, reflecting expected future service, as appropriate, expected to be paid	Year(s) U.S. Non-U.S. 2016 $ $ 2017 2018 2019 2020 2021-2025
Postretirement Benefits Other Than Pensions
Defined Benefit Plans and Other Postretirement Benefit Plans
Changes in the benefit obligations	U.S. Non-U.S. 2015 2014 2015 2014 Obligations at beginning of year $ $ $ $ Change in benefit obligations: Service cost Interest cost Actuarial (gain) loss, including the effect of changing discount rates Benefit payments Foreign currency translation Other Net change in benefit obligations — Obligations at end of year $ $ $ $
Funded status	U.S. Non-U.S. 2015 2014 2015 2014 Postretirement benefit obligations $ $ $ $ Items not yet recognized in net postretirement benefit cost: Actuarial loss Prior service credit Net amount recognized $ $ $ $
Net amount recognized included in the Consolidated Balance Sheets	U.S. Non-U.S. 2015 2014 2015 2014 Current nonpension postretirement benefit, included with Other accrued liabilities $ $ $ $ Nonpension postretirement benefits Accumulated other comprehensive loss Net amount recognized $ $ $ $
Changes in plan assets and/or benefit obligations recognized in accumulated other comprehensive income	U.S. Non-U.S. 2015 2014 2015 2014 Current year actuarial (gain) loss $ $ $ — $ Amortization of actuarial loss Amortization of prior service credit Other adjustments $ $ $ — $
Components of net periodic pension cost (income) and net periodic postretirement (benefit) cost	U.S. Non-U.S. 2015 2014 2013 2015 2014 2013 Service cost $ — $ — $ $ $ $ Interest cost Curtailment gain Amortization: Actuarial loss Prior service credit Net amortization — — — Net postretirement benefit (income) cost $ $ $ $ $ $
Amounts amortized from accumulated other comprehensive income during 2015	U.S. Non-U.S. Amortization: Actuarial loss $ $ — Prior service credit Net amortization $ $ —
Weighted average assumptions used to determine benefit obligations and net periodic pension costs for pension plans, and accumulated postretirement benefit obligation and net postretirement benefit cost for postretirement plans	U.S. Non-U.S. 2015 2014 2013 2015 2014 2013 Accumulated postretirement benefit obligation % % % % % % Net postretirement benefit cost % % % % % %
Weighted average assumed health care cost trend rates	U.S. Non-U.S. 2015 2014 2015 2014 Health care cost trend rate assumed for next year % % % % Rate to which the cost trend rate is assumed to decline (ultimate trend rate) % % % % Year that the rate reaches the ultimate trend rate
Effects of one-percentage-point change in assumed health care cost trend rates on amount reported for the postretirement benefit plans	U.S. Non-U.S. 1-Percentage-Point 1-Percentage-Point Increase Decrease Increase Decrease Effect on total of service and interest cost $ — $ — $ $ Effect on accumulated postretirement benefit obligations
Estimated future benefit payments, reflecting expected future service, as appropriate, expected to be paid	Year(s) U.S. Non-U.S. 2016 $ $ 2017 2018 2019 2020 2021 - 2025

Income Taxes (Tables)-K

Income Taxes (Tables)-K	12 Months Ended
	Dec. 31, 2015
Income Taxes
Provision (benefit) for income taxes calculated based on components of earnings (loss) before income taxes	Continuing operations 2015 2014 2013 U.S. $ $ $ Non-U.S. $ $ $ Discontinued operations 2015 2014 2013 U.S. $ — $ $ Non-U.S. $ $ $
Provision (benefit) for income taxes	2015 2014 2013 Current: U.S. $ $ $ Non-U.S. Deferred: U.S. — — Non-U.S. Total: U.S. Non-U.S. Total for continuing operations Total for discontinued operations — — — $ $ $
Reconciliation of the provision for income taxes	2015 2014 2013 Tax provision on pretax earnings from continuing operations at statutory U.S. Federal tax rate $ $ $ Increase (decrease) in provision for income taxes due to: Non-U.S. tax rates Changes in valuation allowance Withholding tax, net Non-deductible acquisition costs U.S. tax on intercompany dividends and interest Tax exempt income Tax law changes Tax credit Other items Provision for income taxes $ $ $ Deferred income taxes reflect: (1) the net tax effects of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes; and (2) carryovers and credits for income tax purposes.
Significant components of deferred tax assets and liabilities and deferred taxes included in the Consolidated Balance Sheets	2015 2014 Deferred tax assets: Accrued postretirement benefits $ $ Asbestos-related liabilities Foreign tax credit Operating and capital loss carryovers Other credit carryovers Accrued liabilities Pension liability Other Total deferred tax assets Deferred tax liabilities: Property, plant and equipment Intangibles and deferred software Other Total deferred tax liabilities Valuation allowance Net deferred taxes $ $ Deferred taxes are included in the Consolidated Balance Sheets at December 31, 2015 and 2014 as follows: 2015 2014 Prepaid expenses $ — $ Other assets Deferred taxes Net deferred taxes $ $
Reconciliation of the gross unrecognized tax benefits	The Company records a liability for unrecognized tax benefits related to uncertain tax positions. The Company accrues interest and penalties associated with unrecognized tax benefits as a component of its income tax expense. The following is a reconciliation of the Company’s total gross unrecognized tax benefits for the years ended December 31, 2015, 2014 and 2013: 2015 2014 2013 Balance at January 1 $ $ $ Additions and reductions for tax positions of prior years Additions based on tax positions related to the current year Reductions due to the lapse of the applicable statute of limitations Reductions due to settlements Foreign currency translation Balance at December 31 $ $ $ Unrecognized tax benefits, which if recognized, would impact the Company’s effective income tax rate $ $ $ Accrued interest and penalties at December 31 $ $ $ Interest and penalties included in tax expense for the years ended December 31 $ $ $

Debt (Tables)-K

Debt (Tables)-K	12 Months Ended
	Dec. 31, 2015
Debt
Long-term Debt	2015 2014 Secured Credit Agreement: Revolving Credit Facility: Revolving Loans $ — $ — Term Loans: Term Loan A Term Loan A (€279 million at December 31, 2015) Term Loan B Previous Secured Credit Agreement: Term Loans: Term Loan B (USD tranche) Term Loan C (CAD tranche) Term Loan D (EUR tranche) Senior Notes: 3.00% , Exchangeable, due 2015 7.375% , due 2016 6.75% , due 2020 (€500 million) 4.875% , due 2021 (€330 million) 5.00% , due 2022 5.875% , due 2023 5.375% , due 2025 6.375% , due 2025 Senior Debentures: 7.80% , due 2018 Capital Leases Other Total long-term debt Less amounts due within one year Long-term debt $ $
Information related to accounts receivable securitization program	2015 2014 Balance (included in short-term loans) $ $ Weighted average interest rate % %
Fair values of the Company's significant fixed rate debt obligations	Principal Indicated Amount Market Price Fair Value Senior Notes: 6.75%, due 2020 (€500 million) $ $ $ 4.875%, due 2021 (€330 million) 5.00%, due 2022 5.875%, due 2023 5.375%, due 2025 6.375%, due 2025 Senior Debentures: 7.80%, due 2018

Contingencies (Tables)-K

Contingencies (Tables)-K	12 Months Ended
	Dec. 31, 2015
Contingencies
Asbestos filings and the claims pending at the end of each listed year	2015 2014 2013 Pending at beginning of year Disposed Filed Pending at end of year

Accumulated Other Comprehensi43

Accumulated Other Comprehensive Income (Loss) (Tables)-K	12 Months Ended
	Dec. 31, 2015
Accumulated Other Comprehensive Loss.
Component of accumulated other comprehensive loss	Total Accumulated Net Effect of Change in Certain Other Exchange Rate Derivative Employee Comprehensive Fluctuations Instruments Benefit Plans Income (Loss) Balance on January 1, 2014 $ $ $ $ Change before reclassifications Amounts reclassified from accumulated other comprehensive income (a) (b) Translation effect Tax effect Other comprehensive income (loss) attributable to the Company Balance on December 31, 2014 Change before reclassifications Amounts reclassified from accumulated other comprehensive income (a) (b) Translation effect Tax effect Other comprehensive income (loss) attributable to the Company Balance on December 31, 2015 $ $ $ $ (a) Amount is included in Cost of goods sold on the Consolidated Results of Operations (see Note 7 for additional information). Amount is included in the computation of net periodic pension cost and net postretirement benefit cost (see Note 9 for additional information).

Stock Options and Other Stock44

Stock Options and Other Stock Based Compensation (Tables)-K	12 Months Ended
	Dec. 31, 2015
Stock Options and Other Stock Based Compensation
Summary of option activity	Weighted Weighted Average Average Remaining Number of Exercise Contractual Aggregate Shares Price Term Intrinsic (thousands) (per share) (years) Value Options outstanding at January 1, 2015 $ Granted Exercised Forfeited or expired Options outstanding at December 31, 2015 $ Options vested or expected to vest at December 31, 2015 $ $ Options exercisable at December 31, 2015 $ $
Additional information related to stock options	2015 2014 2013 Weighted average grant-date fair value of options granted (per share) $ $ $ Aggregate intrinsic value of options exercised $ — $ $ Aggregate cash received from options exercised $ $ $
Schedule of weighted average assumptions used to estimate the fair value of each option grant on the date of grant using the Black-Scholes option pricing model	2015 2014 2013 Expected life of options (years) Expected stock price volatility % % % Risk-free interest rate % % % Expected dividend yield % % %
Restricted shares and restricted share units activity	Weighted Number of Average Restricted Grant-Date Shares Fair Value (thousands) (per share) Nonvested at January 1, 2015 $ Granted Vested Forfeited Nonvested at December 31, 2015 Awards granted during 2014 $ Awards granted during 2013 $ 2015 2014 2013 Total fair value of shares vested $ $ $
Performance vested restricted share unit activity	Number of Performance Weighted Average Vested Restricted Shares Grant-Date Fair Value Units (thousands) (per unit) Nonvested at January 1, 2015 $ Granted Vested Forfeited/Cancelled Nonvested at December 31, 2015 Awards granted during 2014 $ Awards granted during 2013 $

Other Expense, net (Tables)-K

Other Expense, net (Tables)-K	12 Months Ended
	Dec. 31, 2015
Other Expense
Schedule of Other Expense, net	2015 2014 2013 Restructuring, asset impairment and other charges $ $ $ Charge for asbestos related costs Strategic transaction costs Acquisition-related fair value intangible adjustments Non-income tax charge Charge for Argentina impairment Foreign currency exchange loss (gain) Other expense (income) $ $ $

Earnings Per Share (Tables)-K

Earnings Per Share (Tables)-K	12 Months Ended
	Dec. 31, 2015
Earnings Per Share
Computation of basic and diluted earnings per share	2015 2014 2013 Numerator: Net earnings (loss) attributable to the Company $ $ $ Denominator (in thousands): Denominator for basic earnings per share-weighted average shares outstanding Effect of dilutive securities: Stock options and other — Denominator for diluted earnings per share-adjusted weighted average shares outstanding Basic earnings (loss) per share: Earnings (loss) from continuing operations $ $ $ Loss from discontinued operations Net earnings (loss) $ $ $ Diluted earnings (loss) per share: Earnings (loss) from continuing operations $ $ $ Loss from discontinued operations Net earnings (loss) $ $ $

Supplemental Cash Flow Inform47

Supplemental Cash Flow Information (Tables)-K	12 Months Ended
	Dec. 31, 2015
Supplemental Cash Flow Information
Supplemental cash flow information	2015 2014 2013 Decrease (increase) in current assets: Receivables $ $ $ Inventories Prepaid expenses and other Increase (decrease) in current liabilities: Accounts payable Accrued liabilities Salaries and wages U.S. and foreign income taxes $ $ $
Income taxes paid (received) in cash	2015 2014 2013 Interest paid in cash $ $ $ Income taxes paid in cash (all non-U.S)

Business Combinations (Tables)-

Business Combinations (Tables)-K	12 Months Ended
	Dec. 31, 2015
Business Combinations
Schedule of preliminary estimates of fair value of the assets and liabilities	September 1, 2015 Measurement Period Adjustments December 31, 2015 Cash $ $ — $ Other current assets Goodwill Customer list intangibles Net property, plant and equipment Total assets — Current liabilities Long-term debt Long-term liabilities Net assets acquired $ $ — $

Pro Forma Information _ Vitro49

Pro Forma Information – Vitro Acquisition (Tables)-K	12 Months Ended
	Dec. 31, 2015
Pro Forma Information – Vitro Acquisition
Schedule of pro-forma informations	Year Ending December 31, 2015 As Acquisition Financing Pro Forma Reported Adjustments Adjustments As Adjusted Net sales $ $ $ — $ Earnings (loss) from continuing operations attributable to the Company $ $ $ $ Diluted earnings (loss) per share from continuing operations $ $ Year Ending December 31, 2014 As Acquisition Financing Pro Forma Reported Adjustments Adjustments As Adjusted Net sales $ $ $ — $ Earnings from continuing operations attributable to the Company $ $ $ $ Diluted earnings per share from continuing operations $ $

Financial Information for Subsi

Financial Information for Subsidiary Guarantors and Non-Guarantors (Tables)-K	12 Months Ended
	Dec. 31, 2015
Financial Information for Subsidiary Guarantors and Non-Guarantors Disclosure [Abstract]
Balance Sheet	December 31, 2015 Guarantor Non-Guarantor Balance Sheet Parent Subsidiaries Subsidiaries Eliminations Consolidated Current assets: Cash and cash equivalents $ — $ — $ $ — $ Trade receivables, net Inventories Prepaid expenses and other current assets Total current assets — — — Investments in and advances to subsidiaries — Property, plant and equipment, net Intangibles Goodwill Other assets Total assets $ $ $ $ $ Current liabilities : Short-term loans and long-term debt due within one year $ — $ — $ $ — $ Current portion of asbestos liability Accounts payable Other liabilities Total current liabilities — Long-term debt Asbestos-related liabilities Other long-term liabilities Share owners’ equity Noncontrolling interests Total liabilities and share owners’ equity $ $ $ $ $ December 31, 2014 Non- Guarantor Guarantor Balance Sheet Parent Subsidiaries Subsidiaries Eliminations Consolidated Current assets: Cash and cash equivalents $ — $ — $ $ — $ Trade receivables, net Inventories Prepaid expenses and other current assets Total current assets — — — Investments in and advances to subsidiaries — Property, plant and equipment, net Goodwill Other assets Total assets $ $ $ $ $ Current liabilities : Short-term loans and long-term debt due within one year $ — $ — $ $ — $ Current portion of asbestos liability Accounts payable Other liabilities Total current liabilities — Long-term debt Asbestos-related liabilities Other long-term liabilities Share owners’ equity Noncontrolling interests Total liabilities and share owners’ equity $ $ $ $ $
Results of Operations and Comprehensive Income	Year ended December 31, 2015 Non- Guarantor Guarantor Results of Operations Parent Subsidiaries Subsidiaries Eliminations Consolidated Net sales $ $ $ $ $ Cost of goods sold Gross profit Selling and administrative expense Research, development and engineering expense Net intercompany interest — Interest expense, net Equity earnings from subsidiaries — Other equity earnings Other expense, net Earnings before income taxes Provision for income taxes Earnings from continuing operations Loss from discontinued operations Net earnings Net earnings attributable to noncontrolling interests Net earnings attributable to the Company $ $ $ $ $ Year ended December 31, 2015 Non- Guarantor Guarantor Comprehensive Income Parent Subsidiaries Subsidiaries Eliminations Consolidated Net earnings $ $ $ $ $ Other comprehensive income, net Total comprehensive loss Comprehensive income attributable to noncontrolling interests Comprehensive loss attributable to the Company $ $ $ $ $ Year ended December 31, 2014 Non- Guarantor Guarantor Results of Operations Parent Subsidiaries Subsidiaries Eliminations Consolidated Net sales $ — $ — $ $ — $ Cost of goods sold Gross profit Selling and administrative expense Research, development and engineering expense Net intercompany interest — Interest expense, net Equity earnings from subsidiaries — Other equity earnings Other expense, net Earnings before income taxes Provision for income taxes Earnings from continuing operations Loss from discontinued operations Net earnings Net earnings attributable to noncontrolling interests Net earnings attributable to the Company $ $ $ $ $ Year ended December 31, 2014 Non- Guarantor Guarantor Comprehensive Income Parent Subsidiaries Subsidiaries Eliminations Consolidated Net earnings $ $ $ $ $ Other comprehensive income, net Total comprehensive income Comprehensive income attributable to noncontrolling interests Comprehensive income attributable to the Company $ $ $ $ $ Year ended December 31, 2013 Non- Guarantor Guarantor Results of Operations Parent Subsidiaries Subsidiaries Eliminations Consolidated Net sales $ — $ — $ $ — $ Cost of goods sold Gross profit — — — Selling and administrative expense Research, development and engineering expense Net intercompany interest — Interest expense, net Equity earnings from subsidiaries — Other equity earnings Other expense, net Earnings before income taxes Provision for income taxes Earnings from continuing operations Loss from discontinued operations Net earnings Net earnings attributable to noncontrolling interests Net earnings attributable to the Company $ $ $ $ $ Year ended December 31, 2013 Non- Guarantor Guarantor Comprehensive Income Parent Subsidiaries Subsidiaries Eliminations Consolidated Net earnings $ $ $ $ $ Other comprehensive income, net Total comprehensive loss Comprehensive income attributable to noncontrolling interests — Comprehensive income (loss) attributable to the Company $ $ $ $ $
Cash Flows	Year ended December 31, 2015 Non- Guarantor Guarantor Cash Flows Parent Subsidiaries Subsidiaries Eliminations Consolidated Cash provided by (utilized in) operating activities $ $ — $ $ — $ Cash utilized in investing activities Cash provided by financing activities Effect of exchange rate change on cash Net change in cash — — — Cash at beginning of period Cash at end of period $ — $ — $ $ — $ Year ended December 31, 2014 Non- Guarantor Guarantor Cash Flows Parent Subsidiaries Subsidiaries Eliminations Consolidated Cash provided by (utilized in) operating activities $ $ — $ $ — $ Cash utilized in investing activities Cash provided by (utilized in) financing activities Effect of exchange rate change on cash Net change in cash — — — Cash at beginning of period Cash at end of period $ — $ — $ $ — $ Year ended December 31, 2013 Non- Guarantor Guarantor Cash Flows Parent Subsidiaries Subsidiaries Eliminations Consolidated Cash provided by (utilized in) operating activities $ $ — $ $ — $ Cash utilized in investing activities Cash provided by (utilized in) financing activities Effect of exchange rate change on cash Net change in cash — — — Cash at beginning of period Cash at end of period $ — $ — $ $ — $

Significant Accounting Polici51

Significant Accounting Policies (Details)-K $ in Millions	12 Months Ended
	Dec. 31, 2015USD ($)item	Dec. 31, 2014USD ($)	Dec. 31, 2013USD ($)
Significant Accounting Policies
Number of countries in which the entity operates | item	23
Stock-Based Compensation
Compensation cost recognized for equity instruments for which employees do not render the required service | $	$ 15	$ 21	$ 11
Maximum
Equity Method Investments
General ownership percentage for equity method investments	50.00%
Minimum
Equity Method Investments
General ownership percentage for equity method investments	20.00%

Significant Accounting Polici52

Significant Accounting Policies (Details 2)-K	12 Months Ended
	Dec. 31, 2015
Factory machinery and equipment | Minimum
Property, Plant and Equipment
Estimated useful lives	5 years
Factory machinery and equipment | Maximum
Property, Plant and Equipment
Estimated useful lives	25 years
Glass-melting furnaces and forming machines | Minimum
Property, Plant and Equipment
Estimated useful lives	7 years
Glass-melting furnaces and forming machines | Maximum
Property, Plant and Equipment
Estimated useful lives	15 years
Buildings and building equipment | Minimum
Property, Plant and Equipment
Estimated useful lives	10 years
Buildings and building equipment | Maximum
Property, Plant and Equipment
Estimated useful lives	50 years

Significant Accounting Polici53

Significant Accounting Policies (Details 3)-K $ in Millions	12 Months Ended
	Dec. 31, 2014USD ($)
Other Assets
Debt issuance costs	$ 15

Segment Information (Details)-K

Segment Information (Details)-K $ in Millions	3 Months Ended	12 Months Ended
	Dec. 31, 2015USD ($)	Dec. 31, 2015USD ($)item	Dec. 31, 2014USD ($)	Dec. 31, 2013USD ($)
Segment Reporting Information
Number of reportable segments | item		4
Net sales:
Net sales		$ 6,156	$ 6,784	$ 6,967
Items excluded from Segment Operating Profit:
Retained corporate costs and other		(70)	(100)	(119)
Charge for asbestos-related costs		(225)	(135)	(145)
Restructuring, asset impairment and other charges		(80)	(91)	(119)
Strategic transaction costs		(23)
Acquisition-related fair value inventory adjustments		(22)
Acquisition-related fair value intangible adjustments		(10)
Charge for goodwill impairment	$ 0
Interest expense, net		(251)	(230)	(229)
Earnings (loss) from continuing operations before income taxes		59	218	335
Parent
Items excluded from Segment Operating Profit:
Interest expense, net		(20)	(20)	(20)
Earnings (loss) from continuing operations before income taxes		(74)	75	184
Reportable Segment Totals
Net sales:
Net sales		6,098	6,749	6,941
Segment Operating Profit:
Segment Operating Profit		740	908	947
Europe
Net sales:
Net sales		2,324	2,794	2,787
Segment Operating Profit:
Segment Operating Profit		209	353	305
North America
Net sales:
Net sales		2,039	2,003	2,002
Segment Operating Profit:
Segment Operating Profit		265	240	307
Latin America
Net sales:
Net sales		1,064	1,159	1,186
Segment Operating Profit:
Segment Operating Profit		183	227	204
Asia Pacific
Net sales:
Net sales		671	793	966
Segment Operating Profit:
Segment Operating Profit		83	88	131
Other.
Net sales:
Net sales		$ 58	$ 35	$ 26

Segment Information (Details 2)

Segment Information (Details 2)-K - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Assets
Total assets:	$ 9,421	$ 7,843	$ 8,393
Equity investments
Equity investments:	409	427	315
Equity earnings:
Equity earnings	60	64	67
Capital expenditures:
Capital expenditures:	402	369	361
Depreciation and amortization expense:
Depreciation and amortization expense:	409	418	397
Reportable Segment Totals
Assets
Total assets:	9,126	7,503	8,106
Equity investments
Equity investments:	245	258	264
Equity earnings:
Equity earnings	42	40	43
Capital expenditures:
Capital expenditures:	400	366	346
Depreciation and amortization expense:
Depreciation and amortization expense:	395	403	383
Europe
Assets
Total assets:	2,902	3,214	3,494
Equity investments
Equity investments:	78	81	84
Equity earnings:
Equity earnings	16	19	17
Capital expenditures:
Capital expenditures:	164	188	130
Depreciation and amortization expense:
Depreciation and amortization expense:	120	140	139
North America
Assets
Total assets:	2,500	1,971	1,995
Equity investments
Equity investments:	22	24	25
Equity earnings:
Equity earnings	19	17	16
Capital expenditures:
Capital expenditures:	97	89	100
Depreciation and amortization expense:
Depreciation and amortization expense:	128	131	110
South America
Assets
Total assets:	2,807	1,300	1,467
Capital expenditures:
Capital expenditures:	89	55	80
Depreciation and amortization expense:
Depreciation and amortization expense:	107	79	72
Asia Pacific
Assets
Total assets:	917	1,018	1,150
Equity investments
Equity investments:	145	153	155
Equity earnings:
Equity earnings	7	4	10
Capital expenditures:
Capital expenditures:	50	34	36
Depreciation and amortization expense:
Depreciation and amortization expense:	40	53	62
Other.
Assets
Total assets:	295	340	287
Equity investments
Equity investments:	164	169	51
Equity earnings:
Equity earnings	18	24	24
Capital expenditures:
Capital expenditures:	2	3	15
Depreciation and amortization expense:
Depreciation and amortization expense:	14	15	$ 14
Parent
Assets
Total assets:	$ 1,240	$ 1,863

Segment Information (Details 3)

Segment Information (Details 3)-K - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Segment Reporting Information
Property, plant and equipment, net	$ 2,961	$ 2,445	$ 2,632
Net sales	6,156	6,784	6,967
U.S.
Segment Reporting Information
Property, plant and equipment, net	736	713	686
Net sales	1,939	1,852	1,809
Non-U.S.
Segment Reporting Information
Property, plant and equipment, net	2,225	1,732	1,946
Net sales	$ 4,217	$ 4,932	$ 5,158

Segment Information (Details 4)

Segment Information (Details 4)-K	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Minimum
Segment Reporting Information
Percentage of consolidated net sales from continuing operations (as a percent)	10.00%
France
Segment Reporting Information
Percentage of consolidated net sales from continuing operations (as a percent)	10.00%	11.00%	11.00%

Inventories (Details)-K

Inventories (Details)-K - USD ($) $ in Millions	Dec. 31, 2015	Dec. 31, 2014
Inventories
Finished goods	$ 858	$ 884
Raw materials	113	110
Operating supplies	36	41
Inventories	$ 1,007	$ 1,035

Equity Investments (Details)-K

Equity Investments (Details)-K - USD ($) $ in Millions	3 Months Ended	12 Months Ended
	Dec. 31, 2013	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Summarized combined financial information for equity associates at end of year:
Current assets		$ 430	$ 479
Non-current assets		959	718
Total assets		1,389	1,197
Current liabilities		203	217
Other liabilities and deferred items		211	191
Total liabilities and deferred items		414	408
Net assets		975	789
Summarized combined financial information for equity associates for the year:
Net sales		719	752	$ 699
Gross profit		193	198	185
Net earnings		139	150	149
Dividends received		53	54	67
Equity Investments Information
Equity earnings		60	64	67
Difference between investment carrying value and amount of underlying equity in net assets		18
Purchased equity from affiliates		161	188
Due to Affiliate		66	79
Non-U.S.
Equity Investments Information
Equity earnings		23	23	27
U.S.
Equity Investments Information
Equity earnings		$ 37	$ 41	$ 40
BJC O-I Glass Pte. Ltd
Equity Investments Information
Percentage of equity method investments		50.00%
CO Vidrieria SARL
Equity Investments Information
Percentage of equity method investments		50.00%
Rocky Mountain Bottle Company
Equity Investments Information
Percentage of equity method investments		50.00%
Tata Chemical (Soda Ash) Partners
Equity Investments Information
Percentage of equity method investments		25.00%
Vetrerie Meridionali SpA
Equity Investments Information
Percentage of equity method investments		50.00%
Gain or loss recognized related to the deconsolidation	$ 0
Vetri Speciali SpA
Equity Investments Information
Percentage of equity method investments		50.00%

Goodwill and Intangible Assets

Goodwill and Intangible Assets (Details)-K - USD ($) $ in Millions	3 Months Ended	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Changes in the carrying amount of goodwill
Balance of Goodwill at beginning of period		$ 1,893	$ 2,059	$ 2,079
Acquisitions		796
Translation effects		(200)	(166)	(20)
Balance of Goodwill at end of the period	$ 2,489	2,489	1,893	2,059
Impairment charge	0
Europe
Changes in the carrying amount of goodwill
Balance of Goodwill at beginning of period		926	1,044	1,006
Translation effects		(86)	(118)	38
Balance of Goodwill at end of the period	840	840	926	1,044
North America
Changes in the carrying amount of goodwill
Balance of Goodwill at beginning of period		723	734	743
Acquisitions		316
Translation effects		(19)	(11)	(9)
Balance of Goodwill at end of the period	1,020	1,020	723	734
Latin America
Changes in the carrying amount of goodwill
Balance of Goodwill at beginning of period		239	276	325
Acquisitions		480
Translation effects		(95)	(37)	(49)
Balance of Goodwill at end of the period	624	624	239	276
Other.
Changes in the carrying amount of goodwill
Balance of Goodwill at beginning of period		5	5	5
Balance of Goodwill at end of the period	5	5	5	5
Asia Pacific
Changes in the carrying amount of goodwill
Balance of Goodwill at end of the period	0	0
Accumulated impairment losses	$ 1,135	$ 1,135	$ 1,135	$ 1,135

Goodwill and Intangible Asset61

Goodwill and Intangible Assets - Schedule of intangible assets (Details)-K - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Finite-Lived Intangible Assets [Line Items]
Net Carrying Amount	$ 597
Customer list intangibles
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	635
Accumulated Amortization	(26)
Translation Effects	(12)
Net Carrying Amount	$ 597
Useful life	20 years
Amortization expense	$ 26	$ 0	$ 0
2,016	42
2,017	45
2,018	44
2,019	44
2,020	42
Impairment of intangible assets	$ 0

Prepaid Expenses and Other As62

Prepaid Expenses and Other Assets (Details)-K - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Prepaid expenses and other current assets:
Prepaid expenses	$ 52	$ 40
Value added taxes	195	71
Other	119	163
Prepaid expenses and other current assets	366	274
Other assets (non current):
Deferred tax asset	177	203
Deferred returnable packaging costs	110	126
Repair parts inventories	118	107
Capitalized software	86	101
Value added taxes	17	58
Deferred finance fees	6	7
Other	85	83
Total other assets	599	685
Capitalized software
Other information related to capitalized software
Amortization expense for capitalized software	19	$ 17	$ 14
Estimated amortization expense
2,016	17
2,017	16
2,018	15
2,019	13
2,020	11
Vitro, S.A.B. de C.V
Prepaid expenses and other current assets:
Amount of value added tax remitted	$ 143
Term expected to get refund of tax remitted	12 months

Derivative Instruments (Details

Derivative Instruments (Details)-K $ in Millions	12 Months Ended
	Dec. 31, 2015USD ($)MMBTU	Dec. 31, 2014USD ($)MMBTU	Dec. 31, 2013USD ($)
Derivatives and Hedges
Forward exchange contracts gain (loss) recognized in income	$ 10	$ (8)	$ (28)
Commodity forward contracts | Cash Flow Hedges
Derivatives and Hedges
Coverage of commodity futures contracts (in MM BTUs) | MMBTU	7,300,000	450,000
Unrecognized (loss) gain included in Accumulated OCI	$ (4)	$ 1
Commodity futures contracts gain (loss) recognized in OCI	(4)	3	1
Commodity futures contracts loss reclassified from accumulated OCI into income	$ (1)	2	$ (1)
Commodity forward contracts | Cash Flow Hedges | Minimum
Derivatives and Hedges
Period during which unrecognized loss included in Accumulated OCI will be reclassified into earnings	12 months
Commodity forward contracts | Cash Flow Hedges | Maximum
Derivatives and Hedges
Period during which unrecognized loss included in Accumulated OCI will be reclassified into earnings	24 months
Forward exchange contracts | Derivatives not designated as hedging instruments
Derivatives and Hedges
Forward exchange contracts in various currencies	$ 790	$ 524

Derivative Instruments (Detai64

Derivative Instruments (Details 2)-K - USD ($) $ in Millions	Dec. 31, 2015	Dec. 31, 2014
Derivatives, Fair Value
Total asset derivatives	$ 14	$ 10
Total liability derivatives	5	4
Derivatives not designated as hedging instruments | Foreign exchange derivative contracts | Receivables.
Derivatives, Fair Value
Total asset derivatives	14	10
Derivatives not designated as hedging instruments | Foreign exchange derivative contracts | Other accrued liabilities or other liabilities (current)
Derivatives, Fair Value
Total liability derivatives	2	$ 4
Derivatives designated as hedging instruments | Commodity futures contracts | Other accrued liabilities or other liabilities (current)
Derivatives, Fair Value
Total liability derivatives	$ 3

Restructuring Accruals, Asset65

Restructuring Accruals, Asset Impairments and Other Costs Related to Closed Facilities (Details)-K - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Restructuring accrual
Restructuring reserve balance at beginning of period	$ 60	$ 114
Charges	63	76	$ 97
Write-down of assets to net realizable value	(31)	(46)
Net cash paid, principally severance and related benefits	(38)	(58)	(78)
Pension charges transferred to other accounts		(7)
Other, including foreign exchange translation	(11)	(19)
Restructuring reserve balance at end of period	43	60	114
European Asset Optimization
Restructuring Reserve
Employee costs and asset impairments	0	1	16
Cummulative employee costs and asset impairments	127
Restructuring accrual
Restructuring reserve balance at beginning of period	12	30
Charges		1
Net cash paid, principally severance and related benefits	(5)	(12)
Other, including foreign exchange translation	(4)	(7)
Restructuring reserve balance at end of period	3	12	30
Asia Pacific Restructuring
Restructuring Reserve
Employee costs and asset impairments	5	73	49
Cummulative employee costs and asset impairments	220
Restructuring accrual
Restructuring reserve balance at beginning of period	12	20
Charges	5	73
Write-down of assets to net realizable value	(4)	(46)
Net cash paid, principally severance and related benefits	(5)	(20)
Pension charges transferred to other accounts		(7)
Other, including foreign exchange translation	(1)	(8)
Restructuring reserve balance at end of period	7	12	20
Other Restructuring Actions
Restructuring Reserve
Miscellaneous other costs	6		3
Restructuring accrual
Restructuring reserve balance at beginning of period	36	64
Charges	58	2
Write-down of assets to net realizable value	(27)
Net cash paid, principally severance and related benefits	(28)	(26)
Other, including foreign exchange translation	(6)	(4)
Restructuring reserve balance at end of period	33	36	64
Closure of plant and furnace in Latin America
Restructuring Reserve
Employee costs and asset impairments	14		16
Other
Restructuring Reserve
Employee costs and asset impairments	58
North America
Restructuring Reserve
Employee costs and asset impairments	$ 38
Severance and other employee separation costs
Restructuring accrual
Estimated amount of restructuring accrual balance		29
Environmental remediation costs
Restructuring accrual
Estimated amount of restructuring accrual balance		7
Other exit costs
Restructuring accrual
Estimated amount of restructuring accrual balance		$ 7
Global headcount reduction initiatives
Restructuring Reserve
Headcount reduction charges			$ 13

Pensions Benefit Plans and Ot66

Pensions Benefit Plans and Other Postretirement Benefits (Details)-K - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
U.S Pension Plans
Changes in the pension and postretirement benefit obligations
Obligations at beginning of year	$ 2,428	$ 2,275
Change in benefit obligations:
Service cost	24	22	$ 27
Interest cost	96	105	106
Expected asset return	(170)	(176)	(183)
Actuarial loss	74	68	110
Net amortization	74	68	110
Net periodic pension cost	24	19	60
Actuarial (gain) loss, including the effect of change in discount rates	(107)	264
Curtailment, settlement, and plan amendment		(56)
Special termination		30	8
Benefit payments	(252)	(182)
Other	1
Net change in benefit obligations	(238)	153
Obligations at end of year	2,190	2,428	2,275
Changes in fair value of pension plan assets
Fair value at beginning of year	2,190	2,273
Actual gain (loss) on plan assets	(32)	155
Benefit payments	(252)	(182)
Employer contributions	2
Settlements		(56)
Other	1
Net change in fair value of assets	(281)	(83)
Fair value at end of year	1,909	2,190	2,273
Non-U.S. Pension Plans
Changes in the pension and postretirement benefit obligations
Obligations at beginning of year	1,311	1,866
Change in benefit obligations:
Service cost	15	23	33
Interest cost	44	69	72
Expected asset return	(67)	(86)	(91)
Prior service cost			(1)
Actuarial loss	15	18	28
Net amortization	15	18	27
Net periodic pension cost	7	24	41
Actuarial (gain) loss, including the effect of change in discount rates	(9)	131
Gain from curtailment and plan amendment		(22)
Curtailment, settlement, and plan amendment		(567)
Acquisitions	37
Participant contributions	1	5
Benefit payments	(58)	(91)
Foreign currency translation	(131)	(125)
Net change in benefit obligations	(101)	(555)
Obligations at end of year	1,210	1,311	1,866
Changes in fair value of pension plan assets
Fair value at beginning of year	1,094	1,578
Actual gain (loss) on plan assets	42	188
Benefit payments	(58)	(91)
Employer contributions	15	28
Participant contributions	1	5
Settlements		(519)
Acquisitions	22
Foreign currency translation	(104)	(94)
Other		(1)
Net change in fair value of assets	(82)	(484)
Fair value at end of year	1,012	1,094	1,578
U.S Postretirement Benefit Plans
Changes in the pension and postretirement benefit obligations
Obligations at beginning of year	111	111
Change in benefit obligations:
Service cost			1
Interest cost	4	5	5
Prior service cost	(8)	(8)	(7)
Actuarial loss	2	2	3
Net amortization	(6)	(6)	(4)
Net periodic pension cost	(2)	(1)	(3)
Actuarial (gain) loss, including the effect of change in discount rates	(10)	7
Benefit payments	(8)	(12)
Net change in benefit obligations	(14)
Obligations at end of year	97	111	111
Changes in fair value of pension plan assets
Benefit payments	(8)	(12)
Non-U.S. Postretirement Benefit Plans
Changes in the pension and postretirement benefit obligations
Obligations at beginning of year	81	90
Change in benefit obligations:
Service cost	1	1	1
Interest cost	3	4	4
Net periodic pension cost	4	5	5
Actuarial (gain) loss, including the effect of change in discount rates	(1)	(2)
Benefit payments	(3)	(3)
Other		(2)
Foreign currency translation	13	7
Net change in benefit obligations	(13)	(9)
Obligations at end of year	68	81	$ 90
Changes in fair value of pension plan assets
Benefit payments	$ (3)	$ (3)

Pensions Benefit Plans and Ot67

Pensions Benefit Plans and Other Postretirement Benefits (Details 2)-K - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Pension Benefit Plans
Defined Benefit Plan Disclosure
Percentage of minimum target plan asset allocations	10.00%
U.S Pension Plans
Defined Benefit Plan Disclosure
Plan assets at fair value	$ 1,909	$ 2,190	$ 2,273
Projected benefit and postretirement benefit obligations	2,190	2,428	2,275
Plan assets less than projected benefit obligations	(281)	(238)
Items not yet recognized in pension expense and net postretirement benefit cost:
Actuarial loss	1,145	1,123
Defined Benefit Plan, Accumulated Other Comprehensive Income Actuarial Loss, Net of Tax	1,145	1,123
Prior service cost (credit)	2	2
Total	1,147	1,125
Net amount recognized	866	887
Non-U.S. Pension Plans
Defined Benefit Plan Disclosure
Plan assets at fair value	1,012	1,094	1,578
Projected benefit and postretirement benefit obligations	1,210	1,311	1,866
Plan assets less than projected benefit obligations	(198)	(217)
Items not yet recognized in pension expense and net postretirement benefit cost:
Actuarial loss	320	349
Defined Benefit Plan, Accumulated Other Comprehensive Income Actuarial Loss, Net of Tax	320	349
Prior service cost (credit)	(1)
Total	319	349
Net amount recognized	121	132
U.S Postretirement Benefit Plans
Defined Benefit Plan Disclosure
Projected benefit and postretirement benefit obligations	97	111	111
Items not yet recognized in pension expense and net postretirement benefit cost:
Actuarial loss	23	35
Defined Benefit Plan, Accumulated Other Comprehensive Income Actuarial Loss, Net of Tax	23	35
Prior service cost (credit)	(38)	(46)
Total	(15)	(11)
Net amount recognized	(112)	(122)
Non-U.S. Postretirement Benefit Plans
Defined Benefit Plan Disclosure
Projected benefit and postretirement benefit obligations	68	81	$ 90
Items not yet recognized in pension expense and net postretirement benefit cost:
Actuarial loss	(3)	(3)
Defined Benefit Plan, Accumulated Other Comprehensive Income Actuarial Loss, Net of Tax	(3)	(3)
Total	(3)	(3)
Net amount recognized	$ (71)	$ (84)

Pensions Benefit Plans and Ot68

Pensions Benefit Plans and Other Postretirement Benefits (Details 3)-K - USD ($) $ in Millions	3 Months Ended	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Pension Benefit Plans
Changes in plan assets and benefit obligations were recognized in accumulated other comprehensive income
Accumulated benefit obligation	$ 3,627	$ 3,306	$ 3,627
U.S Pension Plans
Net amount recognized included in the Consolidated Balance Sheets
Current pension liability and nonpension postretirement benefit, included with Other accrued liabilities	(3)	(1)	(3)
Pension benefits and nonpension postretirement benefits	(235)	(280)	(235)
Accumulated other comprehensive loss	1,125	1,147	1,125
Net amount recognized	887	866	887
Changes in plan assets and benefit obligations were recognized in accumulated other comprehensive income
Current year actuarial (gain) loss		95	285
Amortization of actuarial loss		(74)	(68)
Loss due to settlement			(30)
Total		21	187
Changes in benefit obligations were recognized in accumulated other comprehensive income		21	187
Components of net periodic pension cost
Service cost		24	22	$ 27
Interest cost		96	105	106
Expected asset return		(170)	(176)	(183)
Amortization:
Actuarial loss		74	68	110
Net amortization		74	68	110
Net periodic pension cost		24	19	60
Special termination benefits			30	8
Non-U.S. Pension Plans
Net amount recognized included in the Consolidated Balance Sheets
Pension assets	22	32	22
Current pension liability and nonpension postretirement benefit, included with Other accrued liabilities	(9)	(6)	(9)
Pension benefits and nonpension postretirement benefits	(230)	(224)	(230)
Accumulated other comprehensive loss	349	319	349
Net amount recognized	132	121	132
Changes in plan assets and benefit obligations were recognized in accumulated other comprehensive income
Current year actuarial (gain) loss		15	(23)
Amortization of actuarial loss		(15)	(20)
Amortization of prior service credit			2
Gain from curtailment and plan amendment			22
Loss due to settlement			(64)
Total			(83)
Translation		(31)	(32)
Changes in benefit obligations were recognized in accumulated other comprehensive income		(31)	(115)
Components of net periodic pension cost
Service cost		15	23	33
Interest cost		44	69	72
Expected asset return		(67)	(86)	(91)
Amortization:
Actuarial loss		15	18	28
Prior service cost				(1)
Net amortization		15	18	27
Net periodic pension cost		7	24	41
Settlement cost			3	6
Non-cash settlement charge	35
U.S Postretirement Benefit Plans
Net amount recognized included in the Consolidated Balance Sheets
Current pension liability and nonpension postretirement benefit, included with Other accrued liabilities	(11)	(8)	(11)
Pension benefits and nonpension postretirement benefits	(100)	(89)	(100)
Accumulated other comprehensive loss	(11)	(15)	(11)
Net amount recognized	(122)	(112)	(122)
Changes in plan assets and benefit obligations were recognized in accumulated other comprehensive income
Current year actuarial (gain) loss		(10)	7
Amortization of actuarial loss		(2)	(2)
Amortization of prior service credit		8	8
Total		(4)	13
Components of net periodic pension cost
Service cost				1
Interest cost		4	5	5
Curtailment gain				(5)
Amortization:
Actuarial loss		2	2	3
Prior service cost		(8)	(8)	(7)
Net amortization		(6)	(6)	(4)
Net periodic pension cost		(2)	(1)	(3)
Non-U.S. Postretirement Benefit Plans
Net amount recognized included in the Consolidated Balance Sheets
Current pension liability and nonpension postretirement benefit, included with Other accrued liabilities	(3)	(2)	(3)
Pension benefits and nonpension postretirement benefits	(78)	(66)	(78)
Accumulated other comprehensive loss	(3)	(3)	(3)
Net amount recognized	$ (84)	(71)	(84)
Changes in plan assets and benefit obligations were recognized in accumulated other comprehensive income
Current year actuarial (gain) loss			(2)
Other adjustments			1
Total			(1)
Components of net periodic pension cost
Service cost		1	1	1
Interest cost		3	4	4
Amortization:
Net periodic pension cost		$ 4	$ 5	$ 5

Pensions Benefit Plans and Ot69

Pensions Benefit Plans and Other Postretirement Benefits (Details 4)-K - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Weighted average assumptions used to determine net periodic pension costs and net postretirement benefit cost
Tenure used for computing historical long-term rate of return assumption	10 years
U.S Pension Plans
Amortization:
Actuarial loss	$ 62
Prior service cost (credit)	1
Net amortization	63
Projected Benefit Obligation Exceeds the Fair Value of Plan Assets
Projected benefit obligations	2,190	$ 2,428
Accumulated benefit obligation	2,160	2,392
Fair value of plan assets	1,909	2,190
Accumulated Benefit Obligations Exceeds the Fair Value of Plan Assets
Projected benefit obligations	2,190	2,428
Accumulated benefit obligation	2,160	2,392
Fair value of plan assets	$ 1,909	$ 2,190
Weighted average assumptions used to determine pension and accumulated postretirement benefit obligations
Discount rate used to determine pension and accumulated postretirement benefit obligations (as a percent)	4.43%	4.05%
Rate of compensation increase (as a percent)	2.97%	2.96%
Weighted average assumptions used to determine net periodic pension costs and net postretirement benefit cost
Discount rate used to determine net periodic pension costs and net postretirement benefit cost (as a percent)	4.05%	4.81%	4.11%
Rate of compensation increase (as a percent)	2.96%	2.97%	2.97%
Expected long-term rate of return on assets (as a percent)	8.00%	8.00%	8.00%
Non-U.S. Pension Plans
Amortization:
Actuarial loss	$ 13
Net amortization	13
Projected Benefit Obligation Exceeds the Fair Value of Plan Assets
Projected benefit obligations	876	$ 1,049
Accumulated benefit obligation	850	1,023
Fair value of plan assets	645	810
Accumulated Benefit Obligations Exceeds the Fair Value of Plan Assets
Projected benefit obligations	876	1,049
Accumulated benefit obligation	850	1,023
Fair value of plan assets	$ 645	$ 810
Weighted average assumptions used to determine pension and accumulated postretirement benefit obligations
Discount rate used to determine pension and accumulated postretirement benefit obligations (as a percent)	3.82%	3.65%
Rate of compensation increase (as a percent)	2.84%	2.89%
Weighted average assumptions used to determine net periodic pension costs and net postretirement benefit cost
Discount rate used to determine net periodic pension costs and net postretirement benefit cost (as a percent)	3.65%	4.14%	3.89%
Rate of compensation increase (as a percent)	2.89%	3.31%	3.08%
Expected long-term rate of return on assets (as a percent)	7.21%	7.23%	6.34%
U.S Postretirement Benefit Plans
Amortization:
Actuarial loss	$ 2
Prior service cost (credit)	(8)
Net amortization	$ (6)
Weighted average assumptions used to determine pension and accumulated postretirement benefit obligations
Discount rate used to determine pension and accumulated postretirement benefit obligations (as a percent)	4.35%	4.00%	4.63%
Weighted average assumptions used to determine net periodic pension costs and net postretirement benefit cost
Discount rate used to determine net periodic pension costs and net postretirement benefit cost (as a percent)	3.99%	4.63%	4.04%
Non-U.S. Postretirement Benefit Plans
Weighted average assumptions used to determine pension and accumulated postretirement benefit obligations
Discount rate used to determine pension and accumulated postretirement benefit obligations (as a percent)	3.80%	3.75%	4.47%
Weighted average assumptions used to determine net periodic pension costs and net postretirement benefit cost
Discount rate used to determine net periodic pension costs and net postretirement benefit cost (as a percent)	3.75%	4.47%	3.89%

Pensions Benefit Plans and Ot70

Pensions Benefit Plans and Other Postretirement Benefits (Details 5)-K - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
U.S Pension Plans
Defined Benefit Plan Disclosure
Plan assets at fair value	$ 1,909	$ 2,190	$ 2,273
Non-U.S. Pension Plans
Defined Benefit Plan Disclosure
Plan assets at fair value	$ 1,012	1,094	1,578
Equity securities | U.S Pension Plans
Defined Benefit Plan Disclosure
Percentage of U.S. pension plan assets classified as Level 2 assets	62.00%
Equity securities | U.S Pension Plans | Minimum
Defined Benefit Plan Disclosure
Target allocation percentage	45.00%
Equity securities | U.S Pension Plans | Maximum
Defined Benefit Plan Disclosure
Target allocation percentage	55.00%
Debt securities | U.S Pension Plans
Defined Benefit Plan Disclosure
Percentage of U.S. pension plan assets classified as Level 2 assets	30.00%
Debt securities | U.S Pension Plans | Minimum
Defined Benefit Plan Disclosure
Target allocation percentage	40.00%
Debt securities | U.S Pension Plans | Maximum
Defined Benefit Plan Disclosure
Target allocation percentage	50.00%
Real estate | U.S Pension Plans
Defined Benefit Plan Disclosure
Percentage of U.S. pension plan assets classified as Level 2 assets	8.00%
Real estate | U.S Pension Plans | Minimum
Defined Benefit Plan Disclosure
Target allocation percentage	0.00%
Real estate | U.S Pension Plans | Maximum
Defined Benefit Plan Disclosure
Target allocation percentage	10.00%
Other | U.S Pension Plans | Minimum
Defined Benefit Plan Disclosure
Target allocation percentage	0.00%
Other | U.S Pension Plans | Maximum
Defined Benefit Plan Disclosure
Target allocation percentage	10.00%
Level 1 | U.S Pension Plans
Defined Benefit Plan Disclosure
Plan assets at fair value	$ 637	721
Level 1 | Cash and cash equivalents | U.S Pension Plans
Defined Benefit Plan Disclosure
Plan assets at fair value	30	14
Level 1 | Equity securities | U.S Pension Plans
Defined Benefit Plan Disclosure
Plan assets at fair value	278	343
Level 1 | Debt securities | U.S Pension Plans
Defined Benefit Plan Disclosure
Plan assets at fair value	329	364
Level 2 | U.S Pension Plans
Defined Benefit Plan Disclosure
Plan assets at fair value	364	368
Level 2 | Equity securities | U.S Pension Plans
Defined Benefit Plan Disclosure
Plan assets at fair value	176	200
Level 2 | Debt securities | U.S Pension Plans
Defined Benefit Plan Disclosure
Plan assets at fair value	111	119
Level 2 | Real estate | U.S Pension Plans
Defined Benefit Plan Disclosure
Plan assets at fair value	53	30
Level 2 | Other | U.S Pension Plans
Defined Benefit Plan Disclosure
Plan assets at fair value	24	19
Level 3 | U.S Pension Plans
Defined Benefit Plan Disclosure
Plan assets at fair value	11	5
Level 3 | Non-U.S. Pension Plans
Defined Benefit Plan Disclosure
Plan assets at fair value	11	5	$ 8
Level 3 | Debt securities | U.S Pension Plans
Defined Benefit Plan Disclosure
Plan assets at fair value		2
Level 3 | Real estate | U.S Pension Plans
Defined Benefit Plan Disclosure
Plan assets at fair value	5	$ 3
Level 3 | Other | U.S Pension Plans
Defined Benefit Plan Disclosure
Plan assets at fair value	$ 6

Pensions Benefit Plans and Ot71

Pensions Benefit Plans and Other Postretirement Benefits (Details 6)-K - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Estimated future benefit payments
Defined contribution plans for salaried and hourly U.S. employees	$ 29	$ 19	$ 16
U.S Pension Plans
Defined Benefit Plan Disclosure
Fair value at beginning of year	2,190	2,273
Net increase (decrease)	(281)	(83)
Fair value at end of year	1,909	2,190	2,273
Estimated future benefit payments
2,015	171
2,016	175
2,017	163
2,018	162
2,019	160
2020 - 2024	744
Non-U.S. Pension Plans
Defined Benefit Plan Disclosure
Fair value at beginning of year	1,094	1,578
Net increase (decrease)	(82)	(484)
Fair value at end of year	1,012	1,094	1,578
Contribution to defined benefit plan in 2014	25
Estimated future benefit payments
2,015	59
2,016	55
2,017	56
2,018	58
2,019	60
2020 - 2024	331
U.S Postretirement Benefit Plans
Estimated future benefit payments
2,015	8
2,016	8
2,017	8
2,018	8
2,019	8
2020 - 2024	33
Non-U.S. Postretirement Benefit Plans
Estimated future benefit payments
2,015	3
2,016	3
2,017	3
2,018	3
2,019	3
2020 - 2024	16
Level 3 | U.S Pension Plans
Defined Benefit Plan Disclosure
Fair value at beginning of year	5
Fair value at end of year	11	5
Level 3 | Non-U.S. Pension Plans
Defined Benefit Plan Disclosure
Fair value at beginning of year	5	8
Net increase (decrease)	6	(3)
Fair value at end of year	11	$ 5	$ 8
Level 3 | Other | U.S Pension Plans
Defined Benefit Plan Disclosure
Fair value at end of year	$ 6

Pensions Benefit Plans and Ot72

Pensions Benefit Plans and Other Postretirement Benefits (Details 7)-K € in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2015EUR (€)	Dec. 31, 2015USD ($)	Dec. 31, 2014USD ($)	Dec. 31, 2013USD ($)
Pension Benefit Plans and Other Postretirement Benefits
Payments to the trust as required by the bargaining agreements are based upon specified amounts per hour worked		$ 6	$ 6	$ 6
U.S Postretirement Benefit Plans
Weighted average assumed health care cost trend (in percent)
Health care cost trend rate assumed for next year (as a percent)	6.60%	6.60%	7.00%
Rate to which the cost trend rate is assumed to decline (ultimate trend rate) (as a percent)	5.00%	5.00%	5.00%
Year that the rate reaches the ultimate trend rate	2,024	2,024	2,024
Effect of one-percentage-point change in assumed health care cost trend rates (in percent)
One-Percentage-Point Increase, effect on accumulated postretirement benefit obligations		$ 4
One-Percentage-Point Decrease, effect on accumulated postretirement benefit obligations		$ (3)
Non-U.S. Postretirement Benefit Plans
Weighted average assumed health care cost trend (in percent)
Health care cost trend rate assumed for next year (as a percent)	5.00%	5.00%	5.00%
Rate to which the cost trend rate is assumed to decline (ultimate trend rate) (as a percent)	5.00%	5.00%	5.00%
Year that the rate reaches the ultimate trend rate	2,015	2,015	2,014
Effect of one-percentage-point change in assumed health care cost trend rates (in percent)
One-Percentage-Point Increase, effect on total of service and interest cost | €	€ 1
One-Percentage-Point Decrease, effect on total of service and interest cost | €	€ (1)
One-Percentage-Point Increase, effect on accumulated postretirement benefit obligations		$ 11
One-Percentage-Point Decrease, effect on accumulated postretirement benefit obligations		$ (9)

Income Taxes (Details)-K

Income Taxes (Details)-K - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Continuing operations
U.S.	$ (209)	$ (53)	$ 86
Non-U.S.	268	271	249
Earnings (loss) from continuing operations before income taxes	59	218	335
Discontinued operations;
U.S.		(19)	(8)
Non-U.S.	(4)	(4)	(10)
Discontinued operations total	(4)	(23)	(18)
Current:
U.S.	9	7	7
Non-U.S.	85	103	116
Total	94	110	123
Deferred:
U.S.	10
Non-U.S.	2	(18)	(3)
Total	12	(18)	(3)
Total:
U.S.	19	7	7
Non-U.S.	87	85	113
Total for continuing operations	106	92	120
Total	$ 106	$ 92	$ 120

Income Taxes (Details 2)-K

Income Taxes (Details 2)-K - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
A reconciliation of the provision (benefit) for income taxes
Statutory U.S. Federal tax rate (as a percent)	35.00%
Increase (decrease) in provision for income taxes due to:
Tax provision on pretax earnings (loss) from continuing operations at statutory U.S. Federal tax rate	$ 21	$ 76	$ 117
Non-U.S. tax rates	(12)	(22)	(18)
Changes in valuation allowance	74	29
Withholding tax, net	18	18	22
Non-deductible acquisition costs	6
U.S. tax on intercompany dividends and interest	16	1	3
Tax exempt income	(3)	(5)	(6)
Tax law changes	(3)		6
Tax credit	(13)	(3)	(2)
Other items	2	(2)	(2)
Provision for income taxes	$ 106	$ 92	$ 120

Income Taxes (Details 3)-K

Income Taxes (Details 3)-K - USD ($) $ in Millions	Dec. 31, 2015	Dec. 31, 2014
Deferred tax assets:
Accrued postretirement benefits	$ 51	$ 58
Asbestos-related liabilities	183	152
Foreign tax credit	389	376
Operating and capital loss carryovers	435	464
Other credit carryovers	38	37
Accrued liabilities	82	85
Pension liability	128	117
Other	54	65
Total deferred tax assets	1,360	1,354
Deferred tax liabilities:
Property, plant, and equipment	128	127
Intangibles and deferred software	131	34
Other	22	36
Total deferred tax liabilities	281	197
Valuation allowance	(1,026)	(1,036)
Net deferred taxes	53	121
Deferred taxes are included in the Consolidated Balance Sheets:
Prepaid expenses		39
Other assets	177	203
Deferred taxes	(124)	(121)
Net deferred taxes	$ 53	$ 121

Income Taxes (Details 4)-K

Income Taxes (Details 4)-K - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Reasonably possible change in unrecognized tax benefits
Unused foreign tax credits expiring in 2017 through 2025	$ 389	$ 376
Unused research tax credits expiring from 2019 to 2035	14
Alternative minimum tax credits	23
Operating and capital loss carryforwards with indefinite life	145
Operating and capital loss carryforwards expiring between 2016 and 2036	290
Valuation allowance	1,026	1,036
Equity in undistributed earnings of foreign subsidiaries	2,500
Reconciliation of the Company's total gross unrecognized tax benefits
Balance at beginning of the period	77	100	$ 97
Additions and reductions for tax positions of prior years	1	(13)	(3)
Additions based on tax positions related to the current year	10	10	9
Reduction due to lapse of the applicable statute of limitations	(5)	(8)	(2)
Reductions due to settlements	(1)	(1)
Foreign currency translation	8	11	1
Balance at ending of the period	74	77	100
Unrecognized tax benefits, which if recognized, would impact the Company's effective income tax rate	67	70	92
Accrued interest and penalties	25	29	35
Interest and penalties included in tax expense	$ (1)	$ (2)	$ 1
Period during which unrecognized tax benefits are reasonably possible of being settled as a result of audit settlements or statute expirations	12 months
Maximum
Reconciliation of the Company's total gross unrecognized tax benefits
Reasonably possible decrease in unrecognized tax benefits related to audit settlements or statute expirations	$ 47

Debt (Details)-K

Debt (Details)-K $ / shares in Units, € in Millions	Feb. 03, 2016	Sep. 01, 2015USD ($)	Apr. 22, 2015USD ($)	Aug. 31, 2015USD ($)	Dec. 31, 2015USD ($)	Dec. 31, 2014USD ($)	Dec. 31, 2013USD ($)	Dec. 31, 2015EUR (€)	Dec. 31, 2015USD ($)$ / shares
Debt Instrument [Line Items]
Total long-term debt						$ 3,318,000,000			$ 5,413,000,000
Less amounts due within one year						361,000,000			68,000,000
Long-term debt						2,957,000,000			5,345,000,000
Face Value									300,000,000
Interest expense					$ 251,000,000	230,000,000	$ 229,000,000
Net proceeds, after deducting debt issuance costs					4,538,000,000	1,247,000,000	768,000,000
Short-term loans and long-term debt due within one year						488,000,000			$ 228,000,000
New Senior Credit Facility
Debt Instrument [Line Items]
Net proceeds, after deducting debt issuance costs				$ 972,000,000
Weighted average interest rate, short-term debt (as a percent)								2.37%	2.37%
Leverage ratio as defined in the Agreement		4.5	4
Leverage ratio as defined in the Agreement for three fiscal quarters following the end of the current reporting period	5
Leverage ratio as defined in the Agreement for the last fiscal quarter following the end of the current reporting period and three quarters of the next reporting period	4.5
Leverage ratio defined in the Agreement for fiscal quarters subsequent to fluctuating ratios	4
Parent
Debt Instrument [Line Items]
Long-term debt						250,000,000			$ 250,000,000
Interest expense					20,000,000	20,000,000	$ 20,000,000
Senior Secured Credit Agreement
Debt Instrument [Line Items]
Unused Credit									872,000,000
Term Loan A
Debt Instrument [Line Items]
Total long-term debt									1,546,000,000
Face Value									1,575,000,000
Term Loan A (279 million EUR at June 30, 2015)
Debt Instrument [Line Items]
Total long-term debt									301,000,000
Term Loan B (USD tranche)
Debt Instrument [Line Items]
Total long-term debt									563,000,000
Face Value									$ 575,000,000
Term Loan B (USD tranche) | Previous Secured Credit Agreement
Debt Instrument [Line Items]
Total long-term debt						404,000,000
Term Loan B (USD tranche) | New Senior Credit Facility
Debt Instrument [Line Items]
Interest rate margin, Eurocurrency Rate loans (as a percent)			2.75%
Interest rate margin, Base Rate loans (as a percent)			1.75%
Term Loan C (CAD tranche) | Previous Secured Credit Agreement
Debt Instrument [Line Items]
Total long-term debt						70,000,000
Term Loan D (EURO tranche) | Previous Secured Credit Agreement
Debt Instrument [Line Items]
Total long-term debt						103,000,000
Senior Notes 3.00%, Exchangeable, due 2015
Debt Instrument [Line Items]
Total long-term debt						18,000,000
Interest rate, stated percentage								3.00%	3.00%
Senior Notes 7.375%, due 2016
Debt Instrument [Line Items]
Total long-term debt						594,000,000
Interest rate, stated percentage								7.375%	7.375%
Senior Notes 7.375%, due 2016 | Previous Secured Credit Agreement
Debt Instrument [Line Items]
Interest charges for note repurchase premiums and related write-off of unamortized finance fees			$ 42,000,000
Senior Notes 6.75%, due 2020 (500 million EUR)
Debt Instrument [Line Items]
Total long-term debt						603,000,000		€ 500	$ 542,000,000
Interest rate, stated percentage								6.75%	6.75%
Indicated Market Price (in dollars per share) | $ / shares									$ 116.75
Principal Amount									$ 547,000,000
Fair Value									639,000,000
Senior Notes 4.875%, due 2021 (330 million EUR)
Debt Instrument [Line Items]
Total long-term debt						397,000,000		€ 330	$ 357,000,000
Interest rate, stated percentage								4.875%	4.875%
Indicated Market Price (in dollars per share) | $ / shares									$ 109.19
Principal Amount									$ 361,000,000
Fair Value									394,000,000
Senior Notes 5.875%, due 2023
Debt Instrument [Line Items]
Total long-term debt									$ 680,000,000
Interest rate, stated percentage								5.875%	5.875%
Indicated Market Price (in dollars per share) | $ / shares									$ 101
Principal Amount									$ 700,000,000
Fair Value									707,000,000
Senior Notes 5.375%, due 2025
Debt Instrument [Line Items]
Total long-term debt						295,000,000			$ 296,000,000
Interest rate, stated percentage								5.375%	5.375%
Indicated Market Price (in dollars per share) | $ / shares									$ 101.50
Principal Amount									$ 300,000,000
Fair Value									305,000,000
Senior Notes 6.375%, due 2025
Debt Instrument [Line Items]
Total long-term debt									$ 293,000,000
Interest rate, stated percentage								6.375%	6.375%
Indicated Market Price (in dollars per share) | $ / shares									$ 97.50
Principal Amount									$ 300,000,000
Fair Value									293,000,000
Senior Debentures 7.80%, due 2018
Debt Instrument [Line Items]
Total long-term debt						249,000,000			$ 250,000,000
Interest rate, stated percentage								7.80%	7.80%
Indicated Market Price (in dollars per share) | $ / shares									$ 110.90
Principal Amount									$ 250,000,000
Fair Value									277,000,000
Senior Notes issued during December 2014
Debt Instrument [Line Items]
Long-term debt									611,000,000
Net proceeds, after deducting debt issuance costs					$ 790,000,000
Capital leases
Debt Instrument [Line Items]
Total long-term debt						63,000,000			62,000,000
Other
Debt Instrument [Line Items]
Total long-term debt						29,000,000			29,000,000
Senior Notes 5.00%, due 2022
Debt Instrument [Line Items]
Total long-term debt						$ 493,000,000			$ 494,000,000
Interest rate, stated percentage						5.00%		5.00%	5.00%
Face Value						$ 500,000,000
Indicated Market Price (in dollars per share) | $ / shares									$ 98.25
Principal Amount									$ 500,000,000
Fair Value									491,000,000
Revolving Credit Facility | New Senior Credit Facility
Debt Instrument [Line Items]
Total long-term debt									300,000,000
Multicurrency Revolving Credit Facility | New Senior Credit Facility
Debt Instrument [Line Items]
Total long-term debt									600,000,000
Accounts Receivable Securitization Program
Debt Instrument [Line Items]
Short-term loans and long-term debt due within one year						$ 122,000,000			$ 158,000,000
Weighted average interest rate, short-term debt (as a percent)						1.41%		1.21%	1.21%
European Accounts Receivable Securitization Program
Debt Instrument [Line Items]
Maximum Borrowing Capacity | €								€ 185
Incremental Secured Term Loan B Facility Member
Debt Instrument [Line Items]
Libor Floor Interest Rate			0.75
Minimum | Senior Secured Credit Agreement
Debt Instrument [Line Items]
Interest rate margin, Eurocurrency Rate loans (as a percent)								1.25%	1.25%
Interest rate margin, Base Rate loans (as a percent)					0.25%
Minimum | Revolving Loans
Debt Instrument [Line Items]
Facility fee payable (as a percent)					0.20%
Maximum | New Senior Credit Facility
Debt Instrument [Line Items]
Leverage Ratio Increase			0.5
Maximum | Senior Secured Credit Agreement
Debt Instrument [Line Items]
Interest rate margin, Eurocurrency Rate loans (as a percent)								1.75%	1.75%
Interest rate margin, Base Rate loans (as a percent)					0.75%
Maximum | Revolving Loans
Debt Instrument [Line Items]
Facility fee payable (as a percent)					0.30%
Vitro, S.A.B. de C.V | Amended Agreement
Debt Instrument [Line Items]
Face Value		$ 1,250,000,000
Vitro, S.A.B. de C.V | Senior Secured Incremental Term Loan Facility Member
Debt Instrument [Line Items]
Face Value		1,250,000,000
Vitro, S.A.B. de C.V | Incremental Secured Term Loan A Facility Member
Debt Instrument [Line Items]
Face Value		675,000,000
Vitro, S.A.B. de C.V | Incremental Secured Term Loan B Facility Member
Debt Instrument [Line Items]
Face Value		$ 575,000,000

Debt (Details 2)-K

Debt (Details 2)-K $ in Millions	Dec. 31, 2015USD ($)
Annual maturities of long-term debt through 2018
2,015	$ 68
2,016	84
2,017	358
2,018	108
2,019	$ 2,100

Contingencies (Details)-K

Contingencies (Details)-K	3 Months Ended	12 Months Ended
	Dec. 31, 2015USD ($)item	Dec. 31, 2015USD ($)item	Dec. 31, 2014USD ($)item	Dec. 31, 2013USD ($)item	Dec. 31, 2012item	Dec. 31, 1993USD ($)
Percentage of asbestos plaintiffs
Sale of goods containing asbestos from 1948 to 1958		$ 40,000,000
Approximate number of claims disposed of to date | item	396,000	396,000
Average indemnity payment per claim	$ 9,200	$ 9,200
Deferred amounts payable	17,000,000	17,000,000	$ (13,000,000)
Payments for Asbestos-Related Liabilities		138,000,000	$ 148,000,000	$ 158,000,000
Asbestos-related liability, total amount accrued beginning in 1993 through 2014 before insurance recoveries	4,600,000,000	$ 4,600,000,000				$ 975,000,000
Number of years, estimate of accrued liability		4 years
Asbestos related charges	$ 225,000,000	$ 522,000,000
Approximate number of plaintiffs and claimants asbestos claims pending against the entity
Number of pending plaintiffs and claimants | item	2,080	2,080	2,260	2,620	2,610
Disposed (in number of litigants) | item		1,460	1,830	1,700
Filed (in number of litigants) | item		1,280	1,470	1,710
Damages unspecified or sufficient to invoke jurisdictional minimum
Percentage of asbestos plaintiffs
Percentage of asbestos plaintiffs, approximate percentage	82.00%	82.00%
Damages of $15 million or less
Percentage of asbestos plaintiffs
Percentage of asbestos plaintiffs, approximate percentage	11.00%	11.00%
Damages greater than $15 million but less than $100 million
Percentage of asbestos plaintiffs
Percentage of asbestos plaintiffs, approximate percentage	7.00%	7.00%

Accumulated Other Comprehensi80

Accumulated Other Comprehensive Income (Loss) (Details)-K - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Increase (Decrease) Accumulated Other Comprehensive Loss, Net of Tax
Balance at beginning of the period	$ (1,494)
Balance at beginning of the period	1,158
Other comprehensive income (loss)	(539)	$ (394)	$ 379
Balance at end of the period	(2,017)	(1,494)
Balance at end of the period	466	1,158
Net Effect of Exchange Rate Fluctuations
Increase (Decrease) Accumulated Other Comprehensive Loss, Net of Tax
Balance at beginning of the period	(55)	229
Change before reclassifications	(513)	(284)
Other comprehensive income (loss)	(513)	(284)
Balance at end of the period	(568)	(55)	229
Change in Certain Derivative Instruments
Increase (Decrease) Accumulated Other Comprehensive Loss, Net of Tax
Balance at beginning of the period	(11)	(12)
Change before reclassifications	(4)	3
Amounts reclassified from accumulated other comprehensive income	(1)	(2)
Tax effect	(1)
Other comprehensive income (loss)	(6)	1
Balance at end of the period	(17)	(11)	(12)
Employee Benefit Plans
Increase (Decrease) Accumulated Other Comprehensive Loss, Net of Tax
Balance at beginning of the period	(1,428)	(1,338)
Change before reclassifications	(58)	(140)
Amounts reclassified from accumulated other comprehensive income	83	92
Translation effect	(31)	(32)
Tax effect	2	(10)
Other comprehensive income (loss)	(4)	(90)
Balance at end of the period	(1,432)	(1,428)	(1,338)
Accumulated Other Comprehensive Loss
Increase (Decrease) Accumulated Other Comprehensive Loss, Net of Tax
Balance at beginning of the period	(1,494)	(1,121)
Change before reclassifications	(575)	(421)
Amounts reclassified from accumulated other comprehensive income	82	90
Translation effect	(31)	(32)
Tax effect	1	(10)
Other comprehensive income (loss)	(523)	(373)
Balance at end of the period	(2,017)	(1,494)	(1,121)
Parent
Increase (Decrease) Accumulated Other Comprehensive Loss, Net of Tax
Balance at beginning of the period	1,158
Other comprehensive income (loss)	(539)	(394)	$ 379
Balance at end of the period	$ 466	$ 1,158

Stock Options and Other Stock81

Stock Options and Other Stock Based Compensation (Details)-K - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Stock Options and Other Stock Based Compensation
Shares available for grants under the plans	8,892,000
Compensation cost for all grants of shares and units	$ 15	$ 21	$ 11
Stock Options
Share-based Compensation Arrangement by Share-based Payment Award
Number of options may be exercised in whole or in part during the first year after the date granted	56,000
Stock Options | Shares granted to employees after March 21, 2005
Share-based Compensation Arrangement by Share-based Payment Award
Percentage of options exercisable per year beginning on the first anniversary from date of option granted	25.00%

Stock Options and Other Stock82

Stock Options and Other Stock Based Compensation (Details 2)-K - Stock Options - USD ($) $ / shares in Units, shares in Thousands, $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Number of Shares
Options outstanding, Beginning balance (in shares)	2,421
Granted (in shares)	688
Exercised (in shares)	(56)
Forfeited or expired (in shares)	(432)
Options outstanding, ending balance (in shares)	2,621	2,421
Options vested or expected to vest (in shares)	2,566
Options exercisable (in shares)	1,563
Weighted Average Exercise Price (per share)
Options outstanding, Beginning balance (in dollars per share)	$ 26.83
Granted (in dollars per share)	23.61
Exercised (in dollars per share)	13.04
Forfeited or expired (in dollars per share)	42.84
Options outstanding, Closing balance (in dollars per share)	23.64	$ 26.83
Options vested or expected to vest (in dollars per share)	23.60
Options exercisable (in dollars per share)	$ 22.16
Weighted Average Remaining Contractual Term (in years)
Options outstanding, Closing balance	3 years 3 months 18 days
Options vested or expected to vest	3 years 2 months 12 days
Options exercisable	1 year 9 months 18 days
Aggregate Intrinsic Value
Options outstanding, Closing balance (in dollars)	$ 4
Options vested or expected to vest (in dollars)	4
Options exercisable (in dollars)	$ 4
Weighted average grant-date fair value of options granted (in dollars per share)	$ 7.79	$ 13.17	$ 12.39
Aggregate intrinsic value of options exercised (in dollars)		$ 3	$ 16
Aggregate cash received from options exercised (in dollars)	$ 1	$ 5	$ 24
Weighted average assumptions used to estimate the fair value of each option grant
Expected life of options (years)	5 years	5 years	5 years
Expected stock price volatility (as a percent)	34.50%	43.00%	55.30%
Risk-free interest rate (as a percent)	1.70%	1.60%	0.90%
Expected dividend yield (as a percent)	0.00%	0.00%	0.00%

Stock Options and Other Stock83

Stock Options and Other Stock Based Compensation (Details 3)-K $ / shares in Units, $ in Millions	12 Months Ended
	Dec. 31, 2015USD ($)$ / sharesshares	Dec. 31, 2014USD ($)$ / sharesshares	Dec. 31, 2013USD ($)$ / shares
Restricted share and Restricted Share Units and Performance Vested Restricted Share Units
Unrecognized compensation cost of unvested stock options, restricted shares, restricted share units and performance vested restricted share units (in dollars) | $	$ 15
Weighted average period during which unrecognized compensation costs would be recognized	2 years
Restricted Shares and Restricted Share Units | Shares granted to employees after March 21, 2005
Share-based Compensation Arrangement by Share-based Payment Award
Percentage of shares vested per year beginning on first anniversary	25.00%
Restricted Shares and Restricted Share Units | Shares granted to employees after March 21, 2005 | Minimum
Restricted share and Restricted Share Units and Performance Vested Restricted Share Units
Fair value of restricted shares, amortization period	1 year
Restricted Shares and Restricted Share Units | Shares granted to employees after March 21, 2005 | Maximum
Restricted share and Restricted Share Units and Performance Vested Restricted Share Units
Fair value of restricted shares, amortization period	4 years
Restricted Shares
Restricted share and Restricted Share Units and Performance Vested Restricted Share Units
Nonvested, beginning balance (in shares)	487,000
Granted (in shares)	550,000
Vested (in shares)	(177,000)
Forfeited (in shares)	(188,000)
Nonvested, ending balance (in shares)	(672,000)	487,000
Nonvested, Beginning balance (in dollars per share) | $ / shares	$ 27.25
Granted (in dollars per share) | $ / shares	22.69	$ 33.36	$ 26.49
Vested (in dollars per share) | $ / shares	29.12
Forfeited (in dollars per share) | $ / shares	25.17
Nonvested, Closing balance (in dollars per share) | $ / shares	$ 23.60	$ 27.25
Total fair value of shares issued (in dollars) | $	$ 4	$ 5	$ 5
Restricted Shares | Shares granted to directors after 2007
Share-based Compensation Arrangement by Share-based Payment Award
Period after which shares granted can be vested	1 year
Restricted Shares | Shares granted to employees after 2010
Share-based Compensation Arrangement by Share-based Payment Award
Common stock distribution ratio	1
Restricted Share Units | Shares granted to employees after 2010
Share-based Compensation Arrangement by Share-based Payment Award
Percentage of shares vested per year beginning on first anniversary	25.00%
Performance Vested Restricted Share Units
Share-based Compensation Arrangement by Share-based Payment Award
Period after which shares granted can be vested	3 years
Restricted share and Restricted Share Units and Performance Vested Restricted Share Units
Nonvested, beginning balance (in shares)	903,000
Granted (in shares)	454,000
Vested (in shares)	(331,000)
Forfeited (in shares)	(93,000)
Nonvested, ending balance (in shares)	933,000	903,000
Nonvested, Beginning balance (in dollars per share) | $ / shares	$ 26.94
Granted (in dollars per share) | $ / shares	23.63	$ 33.41	$ 26.10
Vested (in dollars per share) | $ / shares	22.60
Forfeited (in dollars per share) | $ / shares	27.52
Nonvested, Closing balance (in dollars per share) | $ / shares	$ 26.81	$ 26.94
Total fair value of shares vested (in dollars) | $	$ 8
Shares issued	331,000
Performance Vested Restricted Share Units | Maximum
Restricted share and Restricted Share Units and Performance Vested Restricted Share Units
Shares of common stock holder may receive, per unit of vested units	2

Other Expense, net (Details)-K

Other Expense, net (Details)-K - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Restructuring, asset impairment and related charges	$ 63	$ 76	$ 97
Charge for asbestos related costs	225	135	145
Strategic transaction costs	23
Acquisition-related fair value inventory adjustments	22
Acquisition-related fair value intangible adjustments	10
Non-income tax charge		69
Charge for Argentina impairment			22
Cumulative currency translation losses	(10)	(2)	9
Other expense (income)	(3)	13	(7)
Other expense, net	320	283	$ 266
Other Expenses.
Restructuring, asset impairment and related charges	$ 75	$ 68

Operating Leases (Details)-K

Operating Leases (Details)-K - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Operating Leases
Rent expense attributable to warehouse, office buildings and equipment operating leases	$ 72	$ 63	$ 57
Minimum future rentals under operating leases
2,016	82
2,017	78
2,018	73
2,019	65
2020 and thereafter	$ 42

Earnings Per Share (Details)-K

Earnings Per Share (Details)-K - USD ($) $ / shares in Units, $ in Millions	May. 25, 2015	Feb. 05, 2015	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013	Feb. 04, 2015
Numerator:
Net earnings attributable to the Company			$ (74)	$ 75	$ 184
Denominator (in thousands):
Denominator for basic earnings per share - weighted average shares outstanding (in shares)			161,169,000	164,720,000	164,425,000
Effect of dilutive securities:
Stock options and other (in shares)				1,327,000	1,403,000
Denominator for diluted earnings per share - adjusted weighted average shares outstanding (in shares)			161,169,000	166,047,000	165,828,000
Basic earnings per share:
Earnings (loss) from continuing operations (in dollars per share)			$ (0.44)	$ 0.60	$ 1.22
Loss from discontinued operations (in dollars per share)			(0.03)	(0.14)	(0.11)
Net earnings (loss) (in dollars per share)			(0.47)	0.46	1.11
Diluted earnings per share:
Earnings (loss) from continuing operations (in dollars per share)			(0.44)	0.59	1.22
Loss from discontinued operations (in dollars per share)			(0.03)	(0.14)	(0.11)
Net earnings (loss) (in dollars per share)			$ (0.47)	$ 0.45	$ 1.11
Weighted average shares of common stock attributable to options not included in diluted earnings per share (in shares)				1,143,933	1,315,216
Payments for Repurchase of Common Stock			$ 100	$ 32	$ 33
Treasury Stock, Shares, Acquired			4,100,000	1,100,000	1,100,000
J. P. Morgan Securities LLC
Diluted earnings per share:
Purchase of common stock						$ 100
Payments for Repurchase of Common Stock		$ 100
Treasury Stock, Shares, Acquired	599,760	3,509,496
Stock Repurchase Program Authorized Percent Acquired Shares		85.00%
Parent
Numerator:
Net earnings attributable to the Company			$ (74)	$ 75	$ 184

Supplemental Cash Flow Inform87

Supplemental Cash Flow Information (Details)-K - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Supplemental Cash Flow Information
Interest paid note repurchase premiums	$ 32	$ 9	$ 12
Decrease (increase) in current assets:
Receivables	(14)	59	18
Inventories	(13)	(26)	(30)
Prepaid expenses and other	(4)	(1)	3
Increase (decrease) in current liabilities:
Accounts payable	100	103	128
Accrued liabilities	21	12	7
Salaries and wages	12	(3)	(2)
U.S. and foreign income taxes	(14)	(27)
Changes in components of working capital, total	88	117	124
Amount of receivables sold.	317	276
Carrying Amount Of Receivables Sold	317	276
Interest paid in cash	227	199	205
Income taxes paid in cash (all non-US)	$ 101	$ 101	$ 128

Business Combinations (Details)

Business Combinations (Details)-K - USD ($) $ in Millions	4 Months Ended	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013	Sep. 01, 2015	Dec. 31, 2012
Business Combinations
Net sales		$ 6,156	$ 6,784	$ 6,967
Gross profit		1,110	1,253	1,331
Fair values of the assets and liabilities assumed
Goodwill	$ 2,489	2,489	$ 1,893	$ 2,059	$ 2,297	$ 2,079
Vitro, S.A.B. de C.V
Business Combinations
Net sales	258
Gross profit	46
Fair values of the assets and liabilities assumed
Cash	17	17			17
Current assets	344	344			344
Goodwill	788	788			1,073
Customer list intangibles	635	635			406
Net property, plant, and equipment	653	653			597
Total assets	2,437	2,437			2,437
Current liabilities	103	103			93
Long-term debt	11	11			11
Long-term liabilities	26	26			36
Net assets acquired	2,297	2,297			$ 2,297
Vitro, S.A.B. de C.V | As Adjusted
Fair values of the assets and liabilities assumed
Goodwill	(285)	(285)
Customer list intangibles	229	229
Net property, plant, and equipment	56	56
Current liabilities	10	10
Long-term liabilities	$ (10)	$ (10)

Pro Forma Information _ Viro Ac

Pro Forma Information – Viro Acquisition (Details)-K - USD ($) $ / shares in Units, $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Net sales	$ 6,730	$ 7,642
Earnings (loss) from continuing operations attributable to the Company	$ (41)	$ 97
Diluted earnings per share from continuing operations	$ (0.25)	$ 0.58
As Reported
Net sales	$ 6,156	$ 6,784
Earnings (loss) from continuing operations attributable to the Company	$ (70)	$ 98
Diluted earnings per share from continuing operations	$ (0.44)	$ 0.59
Vitro F&B Adjustments
Net sales	$ 574	$ 858
Earnings (loss) from continuing operations attributable to the Company	75	70
Financing Adjustments
Earnings (loss) from continuing operations attributable to the Company	$ (46)	$ (71)

Discontinued Operations (Detail

Discontinued Operations (Details)-K $ in Millions	Mar. 10, 2015USD ($)Plant	Dec. 31, 2015USD ($)	Dec. 31, 2014USD ($)	Dec. 31, 2013USD ($)
Subsidiaries
Loss from discontinued operations		$ 4	$ 23	$ 18
Consolidated Results of Operations
Cumulative currency translation losses		(10)	(2)	9
Disposed Venezuelan subsidiaries
Subsidiaries
Expropriated plants | Plant	2
Disposed Venezuelan subsidiaries | Minimum
Subsidiaries
Litigation Settlement, Amount	$ 455
Disposed Venezuelan subsidiaries | Discontinued Operations, Disposed of by Means Other than Sale
Subsidiaries
Loss from discontinued operations			$ 23	$ 18
Ongoing costs related to the expropriation		$ 4

Financial Information for Sub91

Financial Information for Subsidiary Guarantors and Non-Guarantors (Details)-K $ in Millions	12 Months Ended
	Dec. 31, 2015USD ($)item	Sep. 01, 2015USD ($)	Dec. 31, 2014USD ($)	Dec. 31, 2013USD ($)	Dec. 31, 2012USD ($)
Financial Information for Subsidiary Guarantors and Non-Guarantors Disclosure [Abstract]
Number of subsidiaries that have guaranteed the notes | item	2
Ownership percentage in Guarantor Subsidiaries	100.00%
Current assets:
Cash and cash equivalents	$ 399		$ 512
Trade receivables, net	562		550
Inventories	1,007		1,035
Prepaid expenses	52		40
Prepaid expenses and other current assets	366		274
Total current assets	2,334		2,371
Property, plant and equipment, net	2,961		2,445	$ 2,632
Intangibles	597
Goodwill	2,489	$ 2,297	1,893	2,059	$ 2,079
Other non-current assets	1,040		1,134
Total other assets	4,126		3,027
Total assets	9,421		7,843	$ 8,393
Current liabilities:
Short-term loans and long-term debt due within one year	228		488
Current portion of asbestos liability	130		143
Accounts payable	1,212		1,137
Other liabilities	552		560
Total current liabilities	2,122		2,328
Long-term debt	5,345		2,957
Asbestos-related liabilities	392		292
Other long-term liabilities	988		991
Total share owners' equity of the Company	466		1,158
Noncontrolling interests	108		117
Total liabilities and share owners' equity	9,421		7,843
Eliminations
Current assets:
Investments in and advances to subsidiaries	(2,228)		(3,456)
Total assets	(2,228)		(3,456)
Current liabilities:
Other liabilities	(2)		(20)
Total current liabilities	(2)		(20)
Long-term debt	(250)		(250)
Total share owners' equity of the Company	(1,976)		(3,186)
Total liabilities and share owners' equity	(2,228)		(3,456)
Parent
Current assets:
Investments in and advances to subsidiaries	1,240		1,863
Total assets	1,240		1,863
Current liabilities:
Current portion of asbestos liability	130		143
Other liabilities	2		20
Total current liabilities	132		163
Long-term debt	250		250
Asbestos-related liabilities	392		292
Total share owners' equity of the Company	466		1,158
Total liabilities and share owners' equity	1,240		1,863
Guarantor Subsidiaries
Current assets:
Investments in and advances to subsidiaries	988		1,593
Total assets	988		1,593
Current liabilities:
Total share owners' equity of the Company	988		1,593
Total liabilities and share owners' equity	988		1,593
Non-Guarantor Subsidiaries
Current assets:
Cash and cash equivalents	399		512
Trade receivables, net	562		550
Inventories	1,007		1,035
Prepaid expenses and other current assets	366		274
Total current assets	2,334		2,371
Property, plant and equipment, net	2,961		2,445
Intangibles	597
Goodwill	2,489		1,893
Other non-current assets	1,040		1,134
Total assets	9,421		7,843
Current liabilities:
Short-term loans and long-term debt due within one year	228		488
Accounts payable	1,212		1,137
Other liabilities	552		560
Total current liabilities	1,992		2,185
Long-term debt	5,345		2,957
Other long-term liabilities	988		991
Total share owners' equity of the Company	988		1,593
Noncontrolling interests	108		117
Total liabilities and share owners' equity	$ 9,421		$ 7,843

Financial Information for Sub92

Financial Information for Subsidiary Guarantors and Non-Guarantors (Details 2)-K - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Results of Operations
Net sales	$ 6,156	$ 6,784	$ 6,967
Cost of goods sold	(5,046)	(5,531)	(5,636)
Gross profit	1,110	1,253	1,331
Selling and administrative expense	(476)	(523)	(506)
Research, development and engineering expense	(64)	(63)	(62)
Interest expense, net	(251)	(230)	(229)
Other equity earnings	60	64	67
Other expense, net	(320)	(283)	(266)
Earnings (loss) from continuing operations before income taxes	59	218	335
Provision for income taxes	(106)	(92)	(120)
Earnings (loss) from continuing operations	(47)	126	215
Loss from discontinued operation	(4)	(23)	(18)
Net earnings (loss)	(51)	103	197
Net (earnings) attributable to noncontrolling interests	(23)	(28)	(13)
Net earnings (loss) attributable to the Company	(74)	75	184
Other comprehensive income (loss):
Net earnings	(51)	103	197
Other comprehensive income (loss) attributable to the Company	(539)	(394)	379
Total comprehensive income (loss)	(590)	(291)	576
Comprehensive income attributable to noncontrolling interests	(7)	(7)	(7)
Comprehensive income (loss) attributable to the Company	(597)	(298)	569
Parent
Results of Operations
Net intercompany interest	20	20	20
Interest expense, net	(20)	(20)	(20)
Equity earnings from subsidiaries	151	210	329
Other expense, net	(225)	(135)	(145)
Earnings (loss) from continuing operations before income taxes	(74)	75	184
Earnings (loss) from continuing operations	(74)	75	184
Net earnings (loss)	(74)	75	184
Net earnings (loss) attributable to the Company	(74)	75	184
Other comprehensive income (loss):
Net earnings	(74)	75	184
Other comprehensive income (loss) attributable to the Company	(539)	(394)	379
Total comprehensive income (loss)	(613)	(319)	563
Comprehensive income attributable to noncontrolling interests			6
Comprehensive income (loss) attributable to the Company	(613)	(319)	569
Guarantor Subsidiaries
Results of Operations
Equity earnings from subsidiaries	151	210	329
Earnings (loss) from continuing operations before income taxes	151	210	329
Earnings (loss) from continuing operations	151	210	329
Net earnings (loss)	151	210	329
Net earnings (loss) attributable to the Company	151	210	329
Other comprehensive income (loss):
Net earnings	151	210	329
Other comprehensive income (loss) attributable to the Company	(539)	(394)	379
Total comprehensive income (loss)	(388)	(184)	708
Comprehensive income (loss) attributable to the Company	(388)	(184)	708
Non-Guarantor Subsidiaries
Results of Operations
Net sales	6,156	6,784	6,967
Cost of goods sold	(5,046)	(5,531)	(5,636)
Gross profit	1,110	1,253	1,331
Selling and administrative expense	(476)	(523)	(506)
Research, development and engineering expense	(64)	(63)	(62)
Net intercompany interest	(20)	(20)	(20)
Interest expense, net	(231)	(210)	(209)
Other equity earnings	60	64	67
Other expense, net	(95)	(148)	(121)
Earnings (loss) from continuing operations before income taxes	284	353	480
Provision for income taxes	(106)	(92)	(120)
Earnings (loss) from continuing operations	178	261	360
Loss from discontinued operation	(4)	(23)	(18)
Net earnings (loss)	174	238	342
Net (earnings) attributable to noncontrolling interests	(23)	(28)	(13)
Net earnings (loss) attributable to the Company	151	210	329
Other comprehensive income (loss):
Net earnings	174	238	342
Other comprehensive income (loss) attributable to the Company	(539)	(394)	379
Total comprehensive income (loss)	(365)	(156)	721
Comprehensive income attributable to noncontrolling interests	(7)	(7)	(7)
Comprehensive income (loss) attributable to the Company	(372)	(163)	714
Eliminations
Results of Operations
Equity earnings from subsidiaries	(302)	(420)	(658)
Earnings (loss) from continuing operations before income taxes	(302)	(420)	(658)
Earnings (loss) from continuing operations	(302)	(420)	(658)
Net earnings (loss)	(302)	(420)	(658)
Net earnings (loss) attributable to the Company	(302)	(420)	(658)
Other comprehensive income (loss):
Net earnings	(302)	(420)	(658)
Other comprehensive income (loss) attributable to the Company	1,078	788	(758)
Total comprehensive income (loss)	776	368	(1,416)
Comprehensive income attributable to noncontrolling interests			(6)
Comprehensive income (loss) attributable to the Company	$ 776	$ 368	$ (1,422)

Financial Information for Sub93

Financial Information for Subsidiary Guarantors and Non-Guarantors (Details 3)-K - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Cash Flows
Total cash provided by (utilized in) operating activities	$ 608	$ 675	$ 682
Cash utilized in investing activities	(2,748)	(455)	(402)
Cash provided by (utilized in) financing activities	2,057	(70)	(321)
Effect of exchange rate fluctuations on cash	(30)	(21)	(7)
Increase (decrease) in cash	(113)	129	(48)
Cash at beginning of period	512	383	431
Cash at end of period	399	512	383
Parent
Cash Flows
Total cash provided by (utilized in) operating activities	87	(148)	(158)
Cash provided by (utilized in) financing activities	(87)	148	158
Non-Guarantor Subsidiaries
Cash Flows
Total cash provided by (utilized in) operating activities	521	823	840
Cash utilized in investing activities	(2,748)	(455)	(402)
Cash provided by (utilized in) financing activities	2,144	(218)	(479)
Effect of exchange rate fluctuations on cash	(30)	(21)	(7)
Increase (decrease) in cash	(113)	129	(48)
Cash at beginning of period	512	383	431
Cash at end of period	$ 399	$ 512	$ 383

SCHEDULE II - VALUATION AND Q94

SCHEDULE II - VALUATION AND QUALIFYING ACCOUNTS (CONSOLIDATED) (Details)-K - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Allowances for losses and discounts on receivables
Reserves deducted from assets in the balance sheets:
Balance at beginning of period	$ 34	$ 39	$ 41
Additions
Charged to costs and expenses/charged to income	12	15	11
Other	(5)	(12)	(5)
Deductions	(12)	(8)	(8)
Balance at end of period	29	34	39
Valuation allowance on net deferred tax assets
Reserves deducted from assets in the balance sheets:
Balance at beginning of period	1,036	990	1,171
Additions
Charged to costs and expenses/charged to income	74	37	37
Other	5	55	(187)
Foreign currency translation	(20)	(15)	(7)
Other	(69)	(31)	(24)
Balance at end of period	$ 1,026	$ 1,036	$ 990