O-I Glass (OI) 10-Q 13 May 16 2016 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information	3 Months Ended
	Mar. 31, 2016shares
Document and Entity Information [Abstract]
Entity Registrant Name	OWENS ILLINOIS INC /DE/
Entity Central Index Key	812,074
Document Type	10-Q
Document Period End Date	Mar. 31, 2016
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Entity Current Reporting Status	Yes
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding	161,918,797
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	Q1

CONDENSED CONSOLIDATED RESULTS

CONDENSED CONSOLIDATED RESULTS OF OPERATIONS - USD ($) shares in Thousands, $ in Millions	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
CONDENSED CONSOLIDATED RESULTS OF OPERATIONS
Net sales	$ 1,588	$ 1,421
Cost of goods sold	(1,269)	(1,153)
Gross profit	319	268
Selling and administrative expense	(129)	(124)
Research, development and engineering expense	(15)	(15)
Interest expense, net	(66)	(47)
Equity earnings	14	15
Other income (expense), net	(22)	3
Earnings from continuing operations before income taxes	101	100
Provision for income taxes	(27)	(25)
Earnings from continuing operations	74	75
Loss from discontinued operations	(1)
Net earnings	73	75
Net (earnings) attributable to noncontrolling interests	(6)	(4)
Net earnings attributable to the Company	67	71
Amounts attributable to the Company:
Earnings from continuing operations	68	71
Loss from discontinued operations	(1)
Net earnings	$ 67	$ 71
Basic earnings per share:
Earnings from continuing operations(in dollars per share)	$ 0.42	$ 0.44
Loss from discontinued operations (in dollars per share)	(0.01)
Net earnings (in dollars per share)	$ 0.41	$ 0.44
Weighted average shares outstanding (thousands) (in shares)	161,204	162,146
Diluted earnings per share:
Earnings from continuing operations (in dollars per share)	$ 0.42	$ 0.44
Loss from discontinued operations (in dollars per share)	(0.01)
Net earnings (in dollars per share)	$ 0.41	$ 0.44
Weighted average diluted shares outstanding (thousands) (in shares)	161,793	163,287

CONDENSED CONSOLIDATED COMPREHE

CONDENSED CONSOLIDATED COMPREHENSIVE INCOME - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
CONDENSED CONSOLIDATED COMPREHENSIVE INCOME
Net earnings (loss)	$ 73	$ 75
Other comprehensive income (loss):
Foreign currency translation adjustments	94	(257)
Pension and other postretirement benefit adjustments, net of tax	(42)	37
Change in fair value of derivative instruments, net of tax	(2)
Other comprehensive income (loss)	50	(220)
Total comprehensive income (loss)	123	(145)
Comprehensive income attributable to noncontrolling interests	(9)
Comprehensive income (loss) attributable to the Company	$ 114	$ (145)

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	Mar. 31, 2016	Dec. 31, 2015	Mar. 31, 2015	Dec. 31, 2014
Current assets:
Cash and cash equivalents	$ 239	$ 399	$ 257
Trade receivables, net of allowance of $31 million, $29 million and $31 million at March 31, 2016, December 31, 2015 and March 31, 2015, respectively	771	562	667
Inventories	1,107	1,007	1,007
Prepaid expenses and other current assets	359	366	268
Total current assets	2,476	2,334	2,199
Property, plant and equipment, net	2,996	2,961	2,337
Goodwill	2,532	2,489	1,752
Intangibles	587	597
Other assets	1,097	1,040	1,024
Total assets	9,688	9,421	7,312
Current liabilities:
Short-term loans and long-term debt due within one year	239	228	635
Current portion of asbestos-related liabilities	130	130	143
Accounts payable	1,050	1,212	919
Other liabilities	467	552	417
Total current liabilities	1,886	2,122	2,114
Long-term debt	5,662	5,345	2,972
Asbestos-related liabilities	676	687	782
Other long-term liabilities	1,048	988	920
Share owners' equity	416	279	524	$ 771
Total liabilities and share owners' equity	$ 9,688	$ 9,421	$ 7,312

CONDENSED CONSOLIDATED BALANCE5

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Millions	Mar. 31, 2016	Dec. 31, 2015	Mar. 31, 2015
CONDENSED CONSOLIDATED BALANCE SHEETS
Trade receivables allowance	$ 31	$ 29	$ 31

CONDENSED CONSOLIDATED CASH FLO

CONDENSED CONSOLIDATED CASH FLOWS - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Cash flows from operating activities:
Net earnings (loss)	$ 73	$ 75
Loss from discontinued operations	1
Non-cash charges
Depreciation and amortization	125	95
Pension expense	6	7
Restructuring, asset impairment and related charges	19
Cash payments
Pension contributions	(4)	(4)
Asbestos-related payments	(11)	(15)
Cash paid for restructuring activities	(13)	(10)
Change in components of working capital	(488)	(429)
Other, net (a)	(9)	3
Cash utilized in continuing operating activities	(301)	(278)
Cash utilized in discontinued operating activities	(1)
Total cash utilized in operating activities	(302)	(278)
Cash flows from investing activities:
Additions to property, plant and equipment	(117)	(106)
Acquisitions, net of cash acquired	(22)	(52)
Other, net	6	1
Cash utilized in investing activities	(133)	(157)
Cash flows from financing activities:
Changes in borrowings, net	274	308
Issuance of common stock	5
Treasury shares purchased		(100)
Payment of finance fees	(3)	(1)
Cash provided by financing activities	276	207
Effect of exchange rate fluctuations on cash	(1)	(27)
Decrease in cash	(160)	(255)
Cash at beginning of period	399	512
Cash at end of period	$ 239	$ 257

Segment Information

Segment Information	3 Months Ended
	Mar. 31, 2016
Segment Information
Segment Information	1. 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 15), 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 for the three months ended March 31, 2016 and 2015 regarding the Company’s reportable segments is as follows: 2016 2015 Net sales: Europe $ $ North America Latin America Asia Pacific Reportable segment totals Other Net sales $ $ 2016 2015 Segment operating profit: Europe $ $ North America Latin America Asia Pacific Reportable segment totals Items excluded from segment operating profit: Retained corporate costs and other Restructuring, asset impairment and other Interest expense, net Earnings from continuing operations before income taxes $ $ Financial information regarding the Company’s total assets is as follows: March 31, December 31, March 31, 2016 2015 2015 Total assets: Europe $ $ $ North America Latin America Asia Pacific Reportable segment totals Other Consolidated totals $ $ $

Inventories

Inventories	3 Months Ended
	Mar. 31, 2016
Inventories
Inventories	2. Inventories Major classes of inventory at March 31, 2016, December 31, 2015 and March 31, 2015 are as follows: March 31, December 31, March 31, 2016 2015 2015 Finished goods $ $ $ Raw materials Operating supplies $ $ $

Prepaid Expenses and Other Curr

Prepaid Expenses and Other Current Assets	3 Months Ended
	Mar. 31, 2016
Prepaid Expenses and Other Current Assets
Prepaid Expenses and Other Assets	3 . Prepaid Expenses and Other Current Assets Prepaid expenses and other current assets at March 31, 2016, December 31, 2015 and March 31, 2015 are as follows: March 31, December 31, March 31, 2016 2015 2015 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 before the end of 2016.

Derivative Instruments

Derivative Instruments	3 Months Ended
	Mar. 31, 2016
Derivative Instruments
Derivative Instruments	4. 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 several regions, 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. In North America, the majority of its customer contracts contain provisions that pass the price of natural gas to its customers. In certain of these contracts, the customer has the option of fixing the natural gas price component for a specified period of time. To limit the effects of fluctuations in cash flows resulting from these customer contracts, the Company enters into commodity forward contracts related to forecasted natural gas requirements. In Asia Pacific, the Company implemented a hedging program in the first quarter of 2016, which included the execution of commodity forward contracts for certain contracted natural gas requirements. At March 31, 2016 and 2015, the Company had entered into commodity forward contracts covering approximately 12,600,000 MM BTUs and 5,400,000 MM BTUs, respectively. The Company accounts for the above forward contracts as cash flow hedges at March 31, 2016 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 and an unrecognized loss of less than $1 million at March 31, 2016 and 2015, respectively, related to the commodity forward contracts was included in Accumulated OCI, and will be reclassif ied into earnings in the period when the commodity forward contracts expire. 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 three months ended March 31, 2016 and 2015 was not material. The effect of the commodity forward contracts on the results of operations for the three months ended March 31, 2016 and 2015 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) 2016 2015 2016 2015 $ (4) $ — $ 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 March 31, 2016 and 2015, the Company had outstanding foreign exchange and option agreements denominated in various currencies covering the equivalent of approximately $660 million and $532 million, respectively, related primarily to intercompany transactions and loans. The effect of the forward exchange derivative contracts on the results of operations for the three months ended March 31, 2016 and 2015 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 2016 2015 Other expense $ 5 $ 11 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 at March 31, 2016, December 31, 2015 and March 31, 2015: Fair Value Balance Sheet March 31, December 31, March 31, Location 2016 2015 2015 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

Restructuring Accruals	3 Months Ended
	Mar. 31, 2016
Restructuring Accruals
Restructuring Accruals	5. Restructuring Accruals Selected information related to the restructuring accruals for the three months ended March 31, 2016 and 2015 is as follows: Other Asia Pacific Restructuring Total Restructuring Actions Restructuring Balance at January 1, 2016 $ $ $ Charges Write-down of assets to net realizable value Net cash paid, principally severance and related benefits Other, including foreign exchange translation Balance at March 31, 2016 $ $ $ European Other Asset Asia Pacific Restructuring Total Optimization Restructuring Actions Restructuring Balance at January 1, 2015 $ $ $ $ Net cash paid, principally severance and related benefits Other, including foreign exchange translation Balance at March 31, 2015 $ $ $ $ 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, which was not material, as Level 3 in the fair value hierarchy as set forth in the general accounting principles for fair value measurements. Asia Pacific Restructuring During the three months ended March 31, 2016, the Company recorded charges of $1 million. These charges primarily represented other exit costs as part of the Company’s Asia Pacific Restructuring program. The Company has recorded total cumulative charges of $221 million under this program. Other Restructuring Actions During the three months ended March 31, 2016, the Company recorded charges of $18 million. These charges primarily represented employee costs, write-down of assets, and other exit costs of $ 14 million for a plant closure in the first quarter of 2016 in Latin America, $3 million related to a previous plant closure in North America and $1 million related to other restructuring actions.

Pension Benefit Plans

Pension Benefit Plans	3 Months Ended
	Mar. 31, 2016
Pension Benefit Plans.
Pension Benefit Plans	6. Pension Benefit Plans The components of the net periodic pension cost for the three months ended March 31, 2016 and 2015 are as follows: U.S. Non-U.S. 2016 2015 2016 2015 Service cost $ $ $ $ Interest cost Expected asset return Amortization: Actuarial loss Net periodic pension cost $ $ $ $ —

Income Taxes

Income Taxes	3 Months Ended
	Mar. 31, 2016
Income Taxes
Income Taxes	7. Income Taxes The Company performs a quarterly review of the annual effective tax rate and makes changes if necessary based on new information or events. The estimated annual effective tax rate is forecasted quarterly using actual historical information and forward-looking estimates. The estimated annual effective tax rate may fluctuate due to changes in forecasted annual operating income; changes in the forecasted mix of earnings by country; changes to the valuation allowance for deferred tax assets (such changes would be recorded discretely in the quarter in which they occur); changes to actual or forecasted permanent book to tax differences (non-deductible expenses); impacts from future tax settlements with state, federal or foreign tax authorities (such changes would be recorded discretely in the quarter in which they occur); or impacts from tax law changes. To the extent such changes impact deferred tax assets/liabilities, these changes would generally be recorded discretely in the quarter in which they occur. Additionally, the annual effective tax rate differs from the statutory U.S. Federal tax rate of 35% primarily because of valuation allowances in some jurisdictions and varying non-U.S. tax rates.

Debt

Debt	3 Months Ended
	Mar. 31, 2016
Debt
Debt	8. Debt The following table summarizes the long-term debt of the Company: March 31, December 31, March 31, 2016 2015 2015 Secured Credit Agreement: Revolving Credit Facility: Revolving Loans $ $ — $ — Term Loans: Term Loan A Term Loan A (€279 million at March 31, 2016) Term Loan B Previous Secured Credit Agreement: Revolving Credit Facility: Revolving Loans 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 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. In connection with the closing of the Vitro Acquisition on September 1, 2015 (see Note 15), 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. On February 3, 2016, the Company entered into Amendment No. 4 (“Amendment No. 4”) to the Agreement which provided for an increase in the maximum Total Leverage Ratio (which is calculated by dividing consolidated total debt, less cash and cash equivalents, by consolidated EBITDA, as defined in the Agreement) for purposes of the financial covenant in the Agreement to 5.0x for the fiscal quarters ending March 31, 2016, June 30, 2016 and September 30, 2016, 4.5x for the fiscal quarters ending December 31, 2016, March 31, 2017, June 30, 2017 and September 30, 2017, and stepping down to 4.0x for the fiscal quarter ending December 31, 2017 and each fiscal quarter thereafter. At March 31, 2016, the Agreement, as amended through Amendment No. 4 (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 ( $1,534 million net of debt issuance costs), and a €279 million term loan A facility ( $309 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 ( $558 million net of debt issuance costs) with a final maturity date of September 1, 2022. At March 31, 2016, the Company had unused credit of $586 million available under the Amended Agreement. The weighted average interest rate on borrowings outstanding under the Amended Agreement at March 31, 2016 was 2.53% . 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 the maximum levels set forth in Amendment No. 4 (as more particularly described above). 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. Failure to comply with these covenants and restrictions could result in an event of default under the Amended Agreement. 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 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 March 31, 2016, 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 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. The Company has a €185 million European accounts receivable securitization program, which extends through March 2019, subject to periodic renewal of backup credit lines. Information related to the Company’s accounts receivable securitization program is as follows: March 31, December 31, March 31, 2016 2015 2015 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. Fair values at March 31, 2016 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

Contingencies	3 Months Ended
	Mar. 31, 2016
Contingencies
Contingencies	9. 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 insulation material containing a sbestos. The Company sold its insulation business unit at the end of 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"). As of March 31, 2016, the Company has determined that it is a named defendant in asbestos lawsuits and claims involving approximately 2,000 plaintiffs and claimants. 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 type and severity of the plaintiff’s asbestos disease, the plaintiff’s medical history and exposure to other disease-causing agents, the product identification evidence against the Company and other co-defendants, the defenses available to the Company and other co-defendants, the specific jurisdiction in which the claim is made, and the plaintiff’s firm representing the claimant. 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 March 31, 2016, has disposed of the asbestos claims of approximately 396,000 plaintiffs and claimants at an average indemnity payment per claim of approximately $9,200 . 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 . The Company’s cash payments per claim disposed (inclusive of legal costs) were approximately $95,000 , $81,000 and $93,000 for the years ended December 31, 2015, 2014 and 2013, 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. Beginning with the initial liability of $975 million established in 1993, the Company has accrued a total of approximately $4.9 billion through 2015, before insurance recoveries, for its asbestos-related liability. The Company’s estimates of its liability have 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; 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. 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. As part of its annual comprehensive legal review , the Company provides historical claims filing data to a third party with expertise in determining the impact of disease incidence and mortality on future filing trends to develop information to assist the Company in estimating the total number of future claims to be filed. The Company uses this estimate o f total future claims, along with an estimation of disposition costs and related legal costs as inputs to develop its best estimate of probable liability. If the results of the annual comprehensive legal review indicate that the existing amount of the accrued liability is lower (higher) than its reasonably estimable asbestos-related costs, then the Company will record an appropriate charge (credit) to the Company’s results of operations to increase (decrease) the accrued liability. The significant assumptions underlying the material components of the Company’s accrual are: a) settlements will continue to be limited almost exclusively to claimants who were exposed to the Company’s asbestos ‑containing insulation prior to its exit from that business in 1958; b) claims will continue to be resolved primarily under the Company’s administrative claims agreements or on terms comparable to those set forth in those agreements; c) the incidence of serious asbestos ‑related disease cases and claiming patterns against the Company for such cases do not change materially; d) the Company is substantially able to defend itself successfully at trial and on appeal; e) the number and timing of additional co ‑defendant bankruptcies do not change significantly the assets available to participate in the resolution of cases in which the Company is a defendant; and f) co-defendants with substantial resources and assets continue to participate significantly in the resolution of future asbestos lawsuits and claims. The Company revised its method for estimating its asbestos-related liabilities in connection with finalizing and reporting its restated results of operations for the year ended December 31, 2015 and 2014 and concluded that an accrual in the amount of $817 million and $939 million as of December 31, 2015 and 2014, respectively was required . These amounts have not been discounted for the time value of money. The application of the revised method also resulted in charges of $16 million, $46 million and $12 million for the years ending December 31, 2015, 2014 and 2013, respectively. T he Company believes it is reasonably possible that it will incur a loss for its asbestos-related liabilities in excess of the amount currently recognized , which is $817 million as of December 31, 2015 . The Company estimates that reasonably possible losses could be as high as $950 million. Th is estimate of additional reasonably poss ible loss reflects a legal judg me nt about the number and cost of potential future claims and legal costs . The Company believes this estimate is consistent with the level of variability it has experienced when comparing actual results to recent near-term projections. However, it is also possible that the ultimate asbestos-related liability could be above this estimate. The Company expects a significant majority of the tot al number of claims to be received in the next ten years. T his timeframe appropriately reflects the mortality of current and expected claimants in light of the Company’s sale of its insulation business unit in 1958. As noted above, the Company’s asbestos-related liability is based on a projection of new claims that will eventually be filed again st the Company and the estimated average disposition cost of these claims and related legal costs. Changes in the significant assumptions noted above ha ve the potential to impact these key factors, which are critical to the estimation of the Company’s asbestos-related liability significantl y. 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.

Share Owners' Equity

Share Owners' Equity	3 Months Ended
	Mar. 31, 2016
Share Owners' Equity
Share Owners' Equity	10. Share Owners’ Equity The activity in share owners’ equity for the three months ended March 31, 2016 and 2015 is as follows: Share Owners’ Equity of the Company Accumulated Capital in Other Non- Common Excess of Treasury Retained Comprehensive controlling Total Share Stock Par Value Stock Loss Loss Interests Owners' Equity Balance on January 1, 2016 $ $ $ $ $ $ $ Issuance of common stock ( 503,410 shares) Reissuance of common stock ( 134,602 shares) Stock compensation Net earnings Other comprehensive income Balance on March 31, 2016 $ $ $ $ $ $ $ Share Owners’ Equity of the Company Accumulated Capital in Other Non- Common Excess of Treasury Retained Comprehensive controlling Total Share Stock Par Value Stock Loss Loss Interests Owners' Equity Balance on January 1, 2015 $ $ $ $ $ $ $ Issuance of common stock ( 32,179 shares) — Reissuance of common stock ( 57,459 shares) Treasury shares purchased ( 3,509,496 shares) Stock compensation Net earnings Other comprehensive loss Acquisitions of noncontrolling interests Balance on March 31, 2015 $ $ $ $ $ $ $ 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. The Company has 250,000,000 shares of common stock authorized with a par value of $.01 per share. Shares outstanding are as follows: Shares Outstanding (in thousands) March 31, December 31, March 31, 2016 2015 2015 Shares of common stock issued (including treasury shares) Treasury shares

Accumulated Other Comprehensive

Accumulated Other Comprehensive Loss	3 Months Ended
	Mar. 31, 2016
Accumulated Other Comprehensive Loss.
Accumulated Other Comprehensive Loss	11. Accumulated Other Comprehensive Loss The activity in accumulated other comprehensive loss for the three months ended March 31, 2016 and 2015 is as follows: Total Accumulated Net Effect of Change in Certain Other Exchange Rate Derivative Employee Comprehensive Fluctuations Instruments Benefit Plans Loss Balance on January 1, 2016 $ Change before reclassifications Amounts reclassified from accumulated other comprehensive income (a) (b) Translation effect Other comprehensive income (loss) attributable to the Company Balance on March 31, 2016 $ $ $ $ Total Accumulated Net Effect of Change in Certain Other Exchange Rate Derivative Employee Comprehensive Fluctuations Instruments Benefit Plans Loss Balance on January 1, 2015 $ $ $ $ Change before reclassifications Amounts reclassified from accumulated other comprehensive income (b) Translation effect Tax effect Other comprehensive income (loss) attributable to the Company — Balance on March 31, 2015 $ $ $ $ (a) Amount is included in Cost of goods sold on the Condensed Consolidated Results of Operations (see Note 4 for additional information). (b) Amount is included in the computation of net periodic pension cost (see Note 6 for additional information) and net postretirement benefit cost.

Other Expense (Income), net

Other Expense (Income), net	3 Months Ended
	Mar. 31, 2016
Other Expense (Income), net
Other Expense (Income), net	12. Other Expense (Income), net Other expense (income), net for the three months ended March 31, 2016 and 2015 included the following: Three months ended March 31, 2016 2015 Restructuring, asset impairment and related charges $ $ — Gain on sale of land in China Foreign currency exchange loss (gain) Other expense (income) $ $

Earnings Per Share

Earnings Per Share	3 Months Ended
	Mar. 31, 2016
Earnings Per Share
Earnings Per Share	13. Earnings Per Share The following table sets forth the computation of basic and diluted earnings per share: Three months ended March 31, 2016 2015 Numerator: Net earnings 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 per share: Earnings from continuing operations $ $ Loss from discontinued operations Net earnings $ $ Diluted earnings per share: Earnings from continuing operations $ $ Loss from discontinued operations Net earnings $ $ Options to purchase 2,970,687 and 1,798, 933 weighted average shares of common stock which were outstanding during the three months ended March 31, 2016 and 2015, 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.

Supplemental Cash Flow Informat

Supplemental Cash Flow Information	3 Months Ended
	Mar. 31, 2016
Supplemental Cash Flow Information
Supplemental Cash Flow Information	14. Supplemental Cash Flow Information Financial information regarding the Company’s supplemental cash flow information is as follows: Three months ended March 31, 2016 2015 Interest paid in cash $ $ Income taxes paid in cash (all non-U.S.) The Company uses various factoring programs to sell certain receivables to financial institutions as part of managing its cash flows. At March 31, 2016 and 2015, the amount of receivables sold by the Company was $268 million and $219 million, respectively. Any continuing involvement with the sold receivables is immaterial.

Business Combinations

Business Combinations	3 Months Ended
	Mar. 31, 2016
Business Combinations
Business Combinations	15. Business Combinations On September 1, 2015, the Company completed the Vitro Acquisition in a cash transaction valued at approximately $2.297 billion in cash, 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 $210 million of net sales and $42 million of segment operating profit in the first quarter of 2016. 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 a senior notes offering, cash on hand and the incremental term loan facilities (see Note 8). 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 resolved with the seller in the first quarter of 2016. The purchase price allocation has not been finalized as of March 31, 2016, 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 March 31, 2016 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	3 Months Ended
	Mar. 31, 2016
Pro Forma Information – Vitro Acquisition
Pro Forma Information – Vitro Acquisition	16. Pro Forma Information – Vitro Acquisition Had the Vitro Acquisition, described in Note 15 and the related financing described in Note 8, occurred at the beginning of the 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: Three Months Ended March 31, 2015 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

Discontinued Operations	3 Months Ended
	Mar. 31, 2016
Discontinued Operations
Discontinued Operations	17. Discontinued Operations On April 4, 2016, the annulment committee formed by the World Bank’s International Centre for Settlement of Investment Disputes (“ICSID”) ruled that a subsidiary of the Company is free to pursue the enforcement of a prior arbitration award against Venezuela. That award amounts to more than $485 million after including interest from the date of the expropriation by Venezuela (October 26, 2010). Venezuela’s application to annul the award is still pending and can take up to several years to complete. The Company intends to take appropriate steps to vigorously enforce and collect the award, which is enforceable in approximately 150 member states that are party to the ICSID Convention. However, even with the lifting of the stay of enforcement, the Company recognizes that the collection of the award may present significant practical challenges. Because the award has yet to be satisfied and the annulment proceeding is pending, the Company is unable at this stage to reasonably predict the efforts that will be necessary to successfully enforce collection of the award, the amount of the award or the timing of any such collection efforts. 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 $1 million and less than $1 million for the three months ended March 31, 2016 and 2015 relates to ongoing costs for the Venezuelan expropriation.

New Accounting Pronouncement

New Accounting Pronouncement	3 Months Ended
	Mar. 31, 2016
New Accounting Pronouncement
New Accounting Pronouncement	18. New Accounting Pronouncement 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 and is in the process of determining the effect of the standard on its ongoing financial reporting. Leases - In February 2016, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") No. 2016-02, "Leases", which will require an entity to recognize lease-related assets and liabilities on their balance sheet. The amendments in this update are effective for fiscal years beginning after December 15, 2018. The Company is currently evaluating the effect this standard will have on its consolidated financial statements and related disclosures.

Financial Information for Subsi

Financial Information for Subsidiary Guarantors and Non-Guarantors	3 Months Ended
	Mar. 31, 2016
Financial Information for Subsidiary Guarantors and Non-Guarantors Disclosure [Abstract]
Financial Information for Subsidiary Guarantors and Non-Guarantors	19. Financial Information for Subsidiary Guarantors and Non-Guarantors The following presents condensed consolidating financial information for the Company, segregating: (1) Owens-Illinois, Inc., the issuer of senior debentures (the “Parent”); (2) the two subsidiaries which have guaranteed the senior debentures on a subordinated basis (the “Guarantor Subsidiaries”); and (3) all other subsidiaries (the “Non-Guarantor Subsidiaries”). The Guarantor Subsidiaries are 100% owned direct and indirect subsidiaries of the Company and their guarantees are full, unconditional and joint and several. They have no operations and function only as intermediate holding companies. Certain reclassifications have been made to conform all of the financial information to the financial presentation on a consolidated basis. The principal eliminations relate to investments in subsidiaries and intercompany balances and transactions. March 31, 2016 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 Goodwill Intangibles 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, 2015 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 Intangibles 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 $ $ $ $ $ March 31, 2015 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 $ $ $ $ $ Three months ended March 31, 2016 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 $ $ $ $ $ Three months ended March 31, 2016 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 $ $ $ $ $ Three months ended March 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 $ $ $ $ $ Three months ended March 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 $ $ $ $ $ Three months ended March 31, 2016 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 $ — $ — $ $ — $ Three months ended March 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 $ — $ — $ $ — $

Segment Information (Tables)

Segment Information (Tables)	3 Months Ended
	Mar. 31, 2016
Segment Information
Net sales for the Company's reportable segments	2016 2015 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	2016 2015 Segment operating profit: Europe $ $ North America Latin America Asia Pacific Reportable segment totals Items excluded from segment operating profit: Retained corporate costs and other Restructuring, asset impairment and other Interest expense, net Earnings from continuing operations before income taxes $ $
Total assets for the Company's reportable segments	March 31, December 31, March 31, 2016 2015 2015 Total assets: Europe $ $ $ North America Latin America Asia Pacific Reportable segment totals Other Consolidated totals $ $ $

Inventories (Tables)

Inventories (Tables)	3 Months Ended
	Mar. 31, 2016
Inventories
Major classes of inventory	March 31, December 31, March 31, 2016 2015 2015 Finished goods $ $ $ Raw materials Operating supplies $ $ $

Prepaid Expenses and Other Cu28

Prepaid Expenses and Other Current Assets (Tables)	3 Months Ended
	Mar. 31, 2016
Prepaid Expenses and Other Current Assets
Schedule of Prepaid expenses and other current assets	March 31, December 31, March 31, 2016 2015 2015 Prepaid expenses $ $ $ Value added taxes Other $ $ $

Derivative Instruments (Tables)

Derivative Instruments (Tables)	3 Months Ended
	Mar. 31, 2016
Derivative Instruments
Effect of commodity futures contracts designated as cash flow hedges on the results of operations	The effect of the commodity forward contracts on the results of operations for the three months ended March 31, 2016 and 2015 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) 2016 2015 2016 2015 $ (4) $ — $ 2 $ —
Effect of the foreign exchange contracts not designated as hedging instruments on the results of operations	The effect of the forward exchange derivative contracts on the results of operations for the three months ended March 31, 2016 and 2015 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 2016 2015 Other expense $ 5 $ 11
Balance Sheet Classification of derivative instruments	Fair Value Balance Sheet March 31, December 31, March 31, Location 2016 2015 2015 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 (Tables)

Restructuring Accruals (Tables)	3 Months Ended
	Mar. 31, 2016
Restructuring Accruals
Selected information related to the restructuring accruals	Selected information related to the restructuring accruals for the three months ended March 31, 2016 and 2015 is as follows: Other Asia Pacific Restructuring Total Restructuring Actions Restructuring Balance at January 1, 2016 $ $ $ Charges Write-down of assets to net realizable value Net cash paid, principally severance and related benefits Other, including foreign exchange translation Balance at March 31, 2016 $ $ $ European Other Asset Asia Pacific Restructuring Total Optimization Restructuring Actions Restructuring Balance at January 1, 2015 $ $ $ $ Net cash paid, principally severance and related benefits Other, including foreign exchange translation Balance at March 31, 2015 $ $ $ $

Pension Benefit Plans (Tables)

Pension Benefit Plans (Tables)	3 Months Ended
	Mar. 31, 2016
Pension Benefit Plans.
Components of net periodic pension cost (income) and net periodic postretirement (benefit) cost	The components of the net periodic pension cost for the three months ended March 31, 2016 and 2015 are as follows: U.S. Non-U.S. 2016 2015 2016 2015 Service cost $ $ $ $ Interest cost Expected asset return Amortization: Actuarial loss Net periodic pension cost $ $ $ $ —

Debt (Tables)

Debt (Tables)	3 Months Ended
	Mar. 31, 2016
Debt
Long-term Debt	March 31, December 31, March 31, 2016 2015 2015 Secured Credit Agreement: Revolving Credit Facility: Revolving Loans $ $ — $ — Term Loans: Term Loan A Term Loan A (€279 million at March 31, 2016) Term Loan B Previous Secured Credit Agreement: Revolving Credit Facility: Revolving Loans 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	March 31, December 31, March 31, 2016 2015 2015 Balance (included in short-term loans) $ $ $ Weighted average interest rate % % %
Fair values of the Company's significant fixed rate debt obligations	Fair values at March 31, 2016 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

Share Owners' Equity (Tables)

Share Owners' Equity (Tables)	3 Months Ended
	Mar. 31, 2016
Share Owners' Equity
Activity in share owner's equity	The activity in share owners’ equity for the three months ended March 31, 2016 and 2015 is as follows: Share Owners’ Equity of the Company Accumulated Capital in Other Non- Common Excess of Treasury Retained Comprehensive controlling Total Share Stock Par Value Stock Loss Loss Interests Owners' Equity Balance on January 1, 2016 $ $ $ $ $ $ $ Issuance of common stock ( 503,410 shares) Reissuance of common stock ( 134,602 shares) Stock compensation Net earnings Other comprehensive income Balance on March 31, 2016 $ $ $ $ $ $ $ Share Owners’ Equity of the Company Accumulated Capital in Other Non- Common Excess of Treasury Retained Comprehensive controlling Total Share Stock Par Value Stock Loss Loss Interests Owners' Equity Balance on January 1, 2015 $ $ $ $ $ $ $ Issuance of common stock ( 32,179 shares) — Reissuance of common stock ( 57,459 shares) Treasury shares purchased ( 3,509,496 shares) Stock compensation Net earnings Other comprehensive loss Acquisitions of noncontrolling interests Balance on March 31, 2015 $ $ $ $ $ $ $
Schedule of shares outstanding	Shares Outstanding (in thousands) March 31, December 31, March 31, 2016 2015 2015 Shares of common stock issued (including treasury shares) Treasury shares

Accumulated Other Comprehensi34

Accumulated Other Comprehensive Loss (Tables)	3 Months Ended
	Mar. 31, 2016
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 Loss Balance on January 1, 2016 $ Change before reclassifications Amounts reclassified from accumulated other comprehensive income (a) (b) Translation effect Other comprehensive income (loss) attributable to the Company Balance on March 31, 2016 $ $ $ $ Total Accumulated Net Effect of Change in Certain Other Exchange Rate Derivative Employee Comprehensive Fluctuations Instruments Benefit Plans Loss Balance on January 1, 2015 $ $ $ $ Change before reclassifications Amounts reclassified from accumulated other comprehensive income (b) Translation effect Tax effect Other comprehensive income (loss) attributable to the Company — Balance on March 31, 2015 $ $ $ $ (a) Amount is included in Cost of goods sold on the Condensed Consolidated Results of Operations (see Note 4 for additional information). Amount is included in the computation of net periodic pension cost (see Note 6 for additional information) and net postretirement benefit cost.

Other Expense (Income), net (Ta

Other Expense (Income), net (Tables)	3 Months Ended
	Mar. 31, 2016
Other Expense (Income), net
Schedule of other expense (income), net	Three months ended March 31, 2016 2015 Restructuring, asset impairment and related charges $ $ — Gain on sale of land in China Foreign currency exchange loss (gain) Other expense (income) $ $

Earnings Per Share (Tables)

Earnings Per Share (Tables)	3 Months Ended
	Mar. 31, 2016
Earnings Per Share
Computation of basic and diluted earnings per share	Three months ended March 31, 2016 2015 Numerator: Net earnings 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 per share: Earnings from continuing operations $ $ Loss from discontinued operations Net earnings $ $ Diluted earnings per share: Earnings from continuing operations $ $ Loss from discontinued operations Net earnings $ $

Supplemental Cash Flow Inform37

Supplemental Cash Flow Information (Tables)	3 Months Ended
	Mar. 31, 2016
Supplemental Cash Flow Information
Supplemental cash flow information	Three months ended March 31, 2016 2015 Interest paid in cash $ $ Income taxes paid in cash (all non-U.S.)

Business Combinations (Tables)

Business Combinations (Tables)	3 Months Ended
	Mar. 31, 2016
Business Combinations
Schedule of preliminary estimates of fair value of the assets and liabilities	September 1, 2015 Measurement Period Adjustments March 31, 2016 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 _ Vitro39

Pro Forma Information – Vitro Acquisition (Tables)	3 Months Ended
	Mar. 31, 2016
Pro Forma Information – Vitro Acquisition
Schedule of pro-forma information	Three Months Ended March 31, 2015 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 Sub40

Financial Information for Subsidiary Guarantors and Non-Guarantors (Tables)	3 Months Ended
	Mar. 31, 2016
Financial Information for Subsidiary Guarantors and Non-Guarantors Disclosure [Abstract]
Balance Sheet	March 31, 2016 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 Goodwill Intangibles 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, 2015 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 Intangibles 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 $ $ $ $ $ March 31, 2015 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	Three months ended March 31, 2016 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 $ $ $ $ $ Three months ended March 31, 2016 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 $ $ $ $ $ Three months ended March 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 $ $ $ $ $ Three months ended March 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 $ $ $ $ $
Cash Flows	Three months ended March 31, 2016 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 $ — $ — $ $ — $ Three months ended March 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 $ — $ — $ $ — $

Segment Information - Reportabl

Segment Information - Reportable Segments (Details) $ in Millions	3 Months Ended
	Mar. 31, 2016USD ($)item	Mar. 31, 2015USD ($)
Segment Reporting Information
Number of reportable segments | item	4
Net sales:
Net sales	$ 1,588	$ 1,421
Items excluded from Segment Operating Profit:
Retained corporate costs and other	(32)	(21)
Restructuring, asset impairment and other	(12)
Interest expense, net
Interest expense, net	(66)	(47)
Earnings from continuing operations before income taxes
Earnings from continuing operations before income taxes	101	100
Reportable Segment Totals
Net sales:
Net sales	1,566	1,405
Segment Operating Profit:
Segment Operating Profit	211	168
Europe
Net sales:
Net sales	563	567
Segment Operating Profit:
Segment Operating Profit	55	49
North America
Net sales:
Net sales	532	470
Segment Operating Profit:
Segment Operating Profit	76	71
Latin America
Net sales:
Net sales	312	205
Segment Operating Profit:
Segment Operating Profit	63	30
Asia Pacific
Net sales:
Net sales	159	163
Segment Operating Profit:
Segment Operating Profit	17	18
Other.
Net sales:
Net sales	$ 22	$ 16

Segment Information - Total Ass

Segment Information - Total Assets (Details) - USD ($) $ in Millions	Mar. 31, 2016	Dec. 31, 2015	Mar. 31, 2015
Assets
Total assets:	$ 9,688	$ 9,421	$ 7,312
Reportable Segment Totals
Assets
Total assets:	9,385	9,126	6,998
Europe
Assets
Total assets:	3,047	2,902	2,926
North America
Assets
Total assets:	2,550	2,500	2,033
Latin America
Assets
Total assets:	2,855	2,807	1,097
Asia Pacific
Assets
Total assets:	933	917	942
Other.
Assets
Total assets:	$ 303	$ 295	$ 314

Inventories (Details)

Inventories (Details) - USD ($) $ in Millions	Mar. 31, 2016	Dec. 31, 2015	Mar. 31, 2015
Inventories
Finished goods	$ 954	$ 858	$ 858
Raw materials	116	113	109
Operating supplies	37	36	40
Inventories	$ 1,107	$ 1,007	$ 1,007

Prepaid Expenses and Other Cu44

Prepaid Expenses and Other Current Assets (Details) - USD ($) $ in Millions	Mar. 31, 2016	Dec. 31, 2015	Mar. 31, 2015
Prepaid expenses and other current assets:
Prepaid expenses	$ 52	$ 52	$ 37
Value added taxes	192	195	44
Other	115	119	187
Prepaid expenses and other current assets	359	$ 366	$ 268
Vitro Acquisition
Prepaid expenses and other current assets:
Amount of value added tax remitted	$ 143

Derivative Instruments - Deriva

Derivative Instruments - Derivatives and Hedges (Details) $ in Millions	3 Months Ended
	Mar. 31, 2016USD ($)MMBTU	Mar. 31, 2015USD ($)MMBTU
Commodity forward contracts | Cash Flow Hedges
Derivatives and Hedges
Coverage of commodity forward contracts (in MM BTUs) | MMBTU	12,600,000	5,400,000
Unrecognized (loss) gain included in Accumulated OCI	$ (4)	$ (1)
Commodity forward contracts gain (loss) recognized in OCI	(4)
Commodity forward contracts gain (loss) reclassified from accumulated OCI into income	2
Foreign exchange derivative contracts | Derivatives not designated as hedging instruments | Other Expenses.
Derivatives and Hedges
Foreign exchange contracts gain (loss) recognized in income	5	11
Forward exchange contracts | Derivatives not designated as hedging instruments
Derivatives and Hedges
Foreign exchange contracts in various currencies	$ 660	$ 532

Derivative Instruments - Balanc

Derivative Instruments - Balance Sheet Classification (Details) - USD ($) $ in Millions	Mar. 31, 2016	Dec. 31, 2015	Mar. 31, 2015
Derivatives, Fair Value
Total asset derivatives	$ 15	$ 14	$ 21
Total liability derivatives	6	5	2
Derivatives not designated as hedging instruments | Forward exchange contracts | Receivables.
Derivatives, Fair Value
Total asset derivatives	15	14	21
Derivatives not designated as hedging instruments | Forward exchange contracts | Other accrued liabilities or other liabilities (current)
Derivatives, Fair Value
Total liability derivatives	2	2	$ 2
Derivatives designated as hedging instruments | Commodity forward contracts | Other accrued liabilities or other liabilities (current)
Derivatives, Fair Value
Total liability derivatives	$ 4	$ 3

Restructuring Accruals (Details

Restructuring Accruals (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Restructuring accrual
Beginning balance, restructuring reserve	$ 43	$ 60
Restructuring, asset impairment and related charges	19
Write-down of assets to net realizable value	(7)
Net cash paid, principally severance and related benefits	(13)	(10)
Other, including foreign exchange translation	(2)	(4)
Ending balance, restructuring reserve	40	46
European Asset Optimization
Restructuring accrual
Beginning balance, restructuring reserve		12
Other, including foreign exchange translation		(1)
Ending balance, restructuring reserve		11
Asia Pacific Restructuring
Restructuring accrual
Beginning balance, restructuring reserve	7	12
Restructuring, asset impairment and related charges	1
Net cash paid, principally severance and related benefits	(1)	(1)
Other, including foreign exchange translation	(1)	(1)
Ending balance, restructuring reserve	6	10
Restructuring, Additional Information
Cumulative employee costs and asset impairments	221
Other Restructuring Actions
Restructuring accrual
Beginning balance, restructuring reserve	36	36
Restructuring, asset impairment and related charges	18
Write-down of assets to net realizable value	(7)
Net cash paid, principally severance and related benefits	(12)	(9)
Other, including foreign exchange translation	(1)	(2)
Ending balance, restructuring reserve	34	$ 25
Restructuring, Additional Information
Other restructuring costs	1
Other Restructuring Actions | Latin America
Restructuring, Additional Information
Employee costs, asset impairments and other exit costs	14
Other Restructuring Actions | North America
Restructuring, Additional Information
Employee costs, asset impairments and other exit costs	$ 3

Pension Benefit Plans (Details)

Pension Benefit Plans (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
U.S Pension Plans
Components of net periodic pension cost
Service cost	$ 4	$ 6
Interest cost	24	24
Expected asset return	(38)	(42)
Amortization:
Actuarial loss	15	19
Net periodic pension cost	5	7
Increase in pension liability	60
Non-U.S. Pension Plans
Components of net periodic pension cost
Service cost	4	4
Interest cost	13	12
Expected asset return	(21)	(21)
Amortization:
Actuarial loss	5	$ 5
Net periodic pension cost	$ 1

Income Taxes (Details)

Income Taxes (Details)	3 Months Ended
	Mar. 31, 2016
Income Taxes
Statutory U.S. Federal tax rate (as a percent)	35.00%

Debt (Details)

Debt (Details) $ / shares in Units, € in Millions	Sep. 01, 2015USD ($)	Apr. 22, 2015item	Aug. 31, 2015USD ($)	Mar. 31, 2016EUR (€)	Mar. 31, 2016USD ($)$ / shares	Feb. 03, 2016	Dec. 31, 2015USD ($)	Mar. 31, 2015USD ($)
Debt Instrument [Line Items]
Total long-term debt					$ 5,724,000,000		$ 5,413,000,000	$ 3,430,000,000
Less amounts due within one year					62,000,000		68,000,000	458,000,000
Long-term debt					5,662,000,000		5,345,000,000	2,972,000,000
Accounts receivable securitization
Short-term loans and long-term debt due within one year					239,000,000		228,000,000	635,000,000
The Agreement, Senior Secured Credit Facility
Debt Instrument [Line Items]
Leverage ratio, period one						500.00%
Leverage ratio, period two						450.00%
Leverage ratio, period three						400.00%
Unused Credit					$ 586,000,000
Number financial maintenance covenants | item		1
Net proceeds, after deducting debt issuance costs			$ 972,000,000
Accounts receivable securitization
Weighted average interest rate, short-term debt (as a percent)				2.53%	2.53%
Revolving Loans
Debt Instrument [Line Items]
Total long-term debt					$ 288,000,000
Revolving Loans | The Previous Agreement
Debt Instrument [Line Items]
Total long-term debt								264,000,000
Term Loan A
Debt Instrument [Line Items]
Total long-term debt					1,534,000,000		1,546,000,000
Face Value					1,575,000,000
Term Loan A (279 million EUR at March 31, 2016)
Debt Instrument [Line Items]
Total long-term debt				€ 279	309,000,000		301,000,000
Term Loan B (USD tranche)
Debt Instrument [Line Items]
Total long-term debt					558,000,000		563,000,000
Face Value					$ 575,000,000
Term Loan B (USD tranche) | The Previous Agreement
Debt Instrument [Line Items]
Total long-term debt								389,000,000
Term Loan B (USD tranche) | The Agreement, Senior Secured 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) | The Previous Agreement
Debt Instrument [Line Items]
Total long-term debt								59,000,000
Term Loan D (EURO tranche) | The Previous Agreement
Debt Instrument [Line Items]
Total long-term debt								91,000,000
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								595,000,000
Interest rate, stated percentage				7.375%	7.375%
Senior Notes 7.375%, due 2016 | The Previous Agreement
Debt Instrument [Line Items]
Interest rate, stated percentage		7.375%
Senior Notes 6.75%, due 2020 (500 million EUR)
Debt Instrument [Line Items]
Total long-term debt				€ 500	$ 561,000,000		542,000,000	534,000,000
Interest rate, stated percentage				6.75%	6.75%
Fair values of fixed rate debt obligations
Principal Amount					$ 566,000,000
Indicated Market Price (in dollars per share) | $ / shares					$ 117.13
Fair Value					$ 663,000,000
Senior Notes 4.875%, due 2021 (330 million EUR)
Debt Instrument [Line Items]
Total long-term debt				€ 330	$ 370,000,000		357,000,000	352,000,000
Interest rate, stated percentage				4.875%	4.875%
Fair values of fixed rate debt obligations
Principal Amount					$ 374,000,000
Indicated Market Price (in dollars per share) | $ / shares					$ 109.69
Fair Value					$ 410,000,000
Senior Notes 5.00%, due 2022
Debt Instrument [Line Items]
Total long-term debt					$ 494,000,000		494,000,000	493,000,000
Interest rate, stated percentage				5.00%	5.00%
Fair values of fixed rate debt obligations
Principal Amount					$ 500,000,000
Indicated Market Price (in dollars per share) | $ / shares					$ 101.25
Fair Value					$ 506,000,000
Senior Notes 5.875% due 2023
Debt Instrument [Line Items]
Total long-term debt					$ 680,000,000		680,000,000
Interest rate, stated percentage				5.875%	5.875%
Fair values of fixed rate debt obligations
Principal Amount					$ 700,000,000
Indicated Market Price (in dollars per share) | $ / shares					$ 104.38
Fair Value					$ 731,000,000
Senior Notes 5.375%, due 2025
Debt Instrument [Line Items]
Total long-term debt					$ 296,000,000		296,000,000	296,000,000
Interest rate, stated percentage				5.375%	5.375%
Fair values of fixed rate debt obligations
Principal Amount					$ 300,000,000
Indicated Market Price (in dollars per share) | $ / shares					$ 100.13
Fair Value					$ 300,000,000
Senior Notes 6.375%, due 2025
Debt Instrument [Line Items]
Total long-term debt					$ 294,000,000		293,000,000
Interest rate, stated percentage				6.375%	6.375%
Fair values of fixed rate debt obligations
Principal Amount					$ 300,000,000
Indicated Market Price (in dollars per share) | $ / shares					$ 105.13
Fair Value					$ 315,000,000
Senior Debentures 7.80%, due 2018
Debt Instrument [Line Items]
Total long-term debt					$ 250,000,000		250,000,000	249,000,000
Interest rate, stated percentage				7.80%	7.80%
Fair values of fixed rate debt obligations
Principal Amount					$ 250,000,000
Indicated Market Price (in dollars per share) | $ / shares					$ 110.45
Fair Value					$ 276,000,000
Capital leases
Debt Instrument [Line Items]
Total long-term debt					58,000,000		62,000,000	66,000,000
Other
Debt Instrument [Line Items]
Total long-term debt					32,000,000		29,000,000	24,000,000
Revolving Credit Facility | The Agreement, Senior Secured Credit Facility
Debt Instrument [Line Items]
Total long-term debt					300,000,000
Multicurrency Revolving Credit Facility | The Agreement, Senior Secured Credit Facility
Debt Instrument [Line Items]
Total long-term debt					600,000,000
Incremental Secured Term Loan B Facility Member
Debt Instrument [Line Items]
Libor Floor Interest Rate		0.75
Accounts Receivable Securitization Program
Accounts receivable securitization
Short-term loans and long-term debt due within one year					$ 157,000,000		$ 158,000,000	$ 171,000,000
Weighted average interest rate, short-term debt (as a percent)				1.03%	1.03%		1.21%	1.36%
European Accounts Receivable Securitization Program
Accounts receivable securitization
Maximum Borrowing Capacity | €				€ 185
Minimum | Term Loan A | The Agreement, Senior Secured Credit Facility
Debt Instrument [Line Items]
Interest rate margin, Eurocurrency Rate loans (as a percent)		0.25%
Interest rate margin, Base Rate loans (as a percent)		1.25%
Minimum | Term Loan B (USD tranche)
Debt Instrument [Line Items]
Facility fee payable (as a percent)		0.20%
Maximum | Term Loan A | The Agreement, Senior Secured Credit Facility
Debt Instrument [Line Items]
Interest rate margin, Eurocurrency Rate loans (as a percent)		0.75%
Interest rate margin, Base Rate loans (as a percent)		1.75%
Maximum | Term Loan B (USD tranche)
Debt Instrument [Line Items]
Facility fee payable (as a percent)		0.30%
Vitro Acquisition | The Agreement, Senior Secured Credit Facility
Debt Instrument [Line Items]
Face Value	$ 1,250,000,000
Vitro Acquisition | Incremental Secured Term Loan A Facility Member
Debt Instrument [Line Items]
Face Value	675,000,000
Vitro Acquisition | Incremental Secured Term Loan B Facility Member
Debt Instrument [Line Items]
Face Value	575,000,000
Vitro Acquisition | Senior Secured Incremental Term Loan Facility Member
Debt Instrument [Line Items]
Face Value	$ 1,250,000,000
Maturity period after the closing of acquisition	7 years

Contingencies (Details)

Contingencies (Details)	3 Months Ended		12 Months Ended
	Mar. 31, 2016USD ($)item	Mar. 31, 2015USD ($)	Dec. 31, 2015USD ($)	Dec. 31, 2014USD ($)	Dec. 31, 2013USD ($)	Dec. 31, 1993USD ($)
Percentage of asbestos plaintiffs
Sale of goods containing asbestos from 1948 to 1958	$ 40,000,000
Number of pending plaintiffs and claimants | item	2,000
Loss contingency, plaintiffs damages, maximum amount			$ 950,000,000
Approximate number of claims disposed of to date | item	396,000
Average indemnity payment per claim	$ 9,200
Payments for Asbestos-Related Liabilities	$ 11,000,000	$ 15,000,000	138,000,000	$ 148,000,000	$ 158,000,000
Cash payments per claim disposed including legal costs			95,000	81,000	93,000
Asbestos-related liability, total amount accrued beginning in 1993 through 2014 before insurance recoveries			4,900,000,000			$ 975,000,000
Accrual of asbestos related liabilty			817,000,000	939,000,000
Asbestos related charges			$ 16,000,000	$ 46,000,000	$ 12,000,000
Damages unspecified or sufficient to invoke jurisdictional minimum
Percentage of asbestos plaintiffs
Percentage of asbestos plaintiffs, approximate percentage			82.00%
Damages of $15 million or less
Percentage of asbestos plaintiffs
Percentage of asbestos plaintiffs, approximate percentage	11.00%
Loss contingency, plaintiffs damages, maximum amount	$ 15,000,000
Damages greater than $15 million but less than $100 million
Percentage of asbestos plaintiffs
Percentage of asbestos plaintiffs, approximate percentage	7.00%
Loss contingency, plaintiffs damages, minimum amount	$ 15,000,000
Loss contingency, plaintiffs damages, maximum amount	$ 100,000,000

Share Owners' Equity (Details)

Share Owners' Equity (Details) - USD ($) $ / shares in Units, $ in Millions	May. 26, 2015	Feb. 05, 2015	Mar. 31, 2016	Mar. 31, 2015	Dec. 31, 2015	Feb. 04, 2015
Increase (Decrease) in Share Owners' Equity
Balance			$ 279	$ 771
Issuance of common stock			$ 5
Issuance of common stock (in shares)			503,410	32,179
Reissuance of common stock			$ 4	$ 2
Reissuance of common stock (in shares)			134,602	57,459
Treasury shares purchased				$ (100)
Treasury shares purchased (in shares)				3,509,496
Stock compensation			$ 5	$ 8
Net earnings (loss)			73	75
Other comprehensive income (loss)			50	(220)
Acquisitions of noncontrolling interest				(12)
Balance			$ 416	524
Payments for Repurchase of Common Stock				$ 100
Common Stock, Number of Shares, Par Value and Other Disclosures
Common stock, shares authorized			250,000,000
Common stock, par value (in dollars per share)			$ 0.01
Shares of common stock issued (including treasury shares)			185,303,000	184,421,000	184,481,000
Treasury stock, shares			23,384,000	23,170,000	23,519,000
J. P. Morgan Securities LLC
Increase (Decrease) in Share Owners' Equity
Treasury shares purchased (in shares)	599,760	3,509,496
Payments for Repurchase of Common Stock		$ 100
Repurchase of common stock						$ 100
Percentage of repurchased common stock		85.00%
Common Stock
Increase (Decrease) in Share Owners' Equity
Balance			$ 2	$ 2
Balance			2	2
Capital in Excess of Par Value
Increase (Decrease) in Share Owners' Equity
Balance			3,064	3,066
Issuance of common stock			5
Stock compensation			5	8
Acquisitions of noncontrolling interest				(18)
Balance			3,074	3,056
Treasury Stock
Increase (Decrease) in Share Owners' Equity
Balance			(573)	(480)
Reissuance of common stock			4	2
Treasury shares purchased				(100)
Balance			(569)	(578)
Retained Loss
Increase (Decrease) in Share Owners' Equity
Balance			(305)	(440)
Net earnings (loss)			67	71
Balance			(238)	(369)
Accumulated Other Comprehensive Loss
Increase (Decrease) in Share Owners' Equity
Balance			(2,017)	(1,494)
Other comprehensive income (loss)			46	(216)
Balance			(1,971)	(1,710)
Non-controlling Interests
Increase (Decrease) in Share Owners' Equity
Balance			108	117
Net earnings (loss)			6	4
Other comprehensive income (loss)			4	(4)
Acquisitions of noncontrolling interest				6
Balance			$ 118	$ 123

Accumulated Other Comprehensi53

Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Increase (Decrease) Accumulated Other Comprehensive Loss, Net of Tax
Balance at beginning of the period	$ 171
Other comprehensive income (loss) attributable to the Company	50	$ (220)
Balance at end of the period	299	401
Net Effect of Exchange Rate Fluctuations
Increase (Decrease) Accumulated Other Comprehensive Loss, Net of Tax
Balance at beginning of the period	(568)	(55)
Change before reclassifications	90	(253)
Other comprehensive income (loss) attributable to the Company	90	(253)
Balance at end of the period	(478)	(308)
Change in Certain Derivative Instruments
Increase (Decrease) Accumulated Other Comprehensive Loss, Net of Tax
Balance at beginning of the period	(17)	(11)
Amounts reclassified from accumulated other comprehensive income	(2)
Other comprehensive income (loss) attributable to the Company	(2)
Balance at end of the period	(19)	(11)
Employee Benefit Plans
Increase (Decrease) Accumulated Other Comprehensive Loss, Net of Tax
Balance at beginning of the period	(1,432)	(1,428)
Amounts reclassified from accumulated other comprehensive income	(43)	21
Translation effect	1	15
Tax effect		1
Other comprehensive income (loss) attributable to the Company	(42)	37
Balance at end of the period	(1,474)	(1,391)
Accumulated Other Comprehensive Loss
Increase (Decrease) Accumulated Other Comprehensive Loss, Net of Tax
Balance at beginning of the period	(2,017)	(1,494)
Change before reclassifications	90	(253)
Amounts reclassified from accumulated other comprehensive income	(45)	21
Translation effect	1	15
Tax effect		1
Other comprehensive income (loss) attributable to the Company	46	(216)
Balance at end of the period	$ (1,971)	$ (1,710)

Other Expense (Income), net (De

Other Expense (Income), net (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Other Expense (Income), net
Restructuring, asset impairment and related charges	$ 19
Gain on sale of land in China	(7)
Foreign currency exchange loss (gain)	3	$ (5)
Other expense (income)	7	2
Other Expense (Income), net	$ 22	$ (3)

Earnings Per Share (Details)

Earnings Per Share (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Numerator:
Net earnings attributable to the Company	$ 67	$ 71
Denominator (in thousands):
Denominator for basic earnings per share - weighted average shares outstanding (in shares)	161,204,000	162,146,000
Effect of dilutive securities:
Stock options and other (in shares)	589,000	1,141,000
Denominator for diluted earnings per share - adjusted weighted average shares outstanding (in shares)	161,793,000	163,287,000
Basic earnings per share:
Earnings from continuing operations(in dollars per share)	$ 0.42	$ 0.44
Loss from discontinued operations (in dollars per share)	(0.01)
Net earnings (in dollars per share)	0.41	0.44
Diluted earnings per share:
Earnings from continuing operations (in dollars per share)	0.42	0.44
Loss from discontinued operations (in dollars per share)	(0.01)
Net earnings (in dollars per share)	$ 0.41	$ 0.44
Weighted average shares of common stock attributable to options not included in diluted earnings per share (in shares)	2,970,687	1,798,933

Supplemental Cash Flow Inform56

Supplemental Cash Flow Information (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Supplemental Cash Flow Information
Interest paid in cash	$ 84	$ 59
Income taxes paid in cash (all non-US)	37	32
Amount of receivables sold under factoring program	$ 268	$ 219

Business Combinations (Details)

Business Combinations (Details) $ in Millions	Sep. 01, 2015USD ($)item	Mar. 31, 2016USD ($)	Mar. 31, 2015USD ($)	Mar. 31, 2016USD ($)	Dec. 31, 2015USD ($)
Business Combinations
Net sales		$ 1,588	$ 1,421
Gross profit		319	268
Fair values of the assets and liabilities assumed
Goodwill		2,532	$ 1,752	$ 2,532	$ 2,489
Vitro Acquisition
Business Combinations
Total consideration	$ 2,297
Number of plants acquired | item	5
Net sales				210
Gross profit				42
Fair values of the assets and liabilities assumed
Cash	$ 17	17		17
Current assets	344	342		342
Goodwill	1,073	781		781
Customer list intangibles	406	635		635
Net property, plant, and equipment	597	653		653
Total assets	2,437	2,428		2,428
Current liabilities	93	103		103
Long-term debt	11	11		11
Long-term liabilities	36	17		17
Net assets acquired	$ 2,297	2,297		2,297
Vitro Acquisition | As Adjusted
Fair values of the assets and liabilities assumed
Current assets		(2)		(2)
Goodwill		(292)		(292)
Customer list intangibles		229		229
Net property, plant, and equipment		56		56
Total assets		(9)		(9)
Current liabilities		10		10
Long-term liabilities		$ (19)		$ (19)

Pro Forma Information _ Viro Ac

Pro Forma Information – Viro Acquisition (Details) $ / shares in Units, $ in Millions	3 Months Ended
	Mar. 31, 2016USD ($)$ / shares
Business Combinations, Pro Forma
Net sales	$ 1,628
Earnings (loss) from continuing operations attributable to the Company	$ 77
Diluted earnings per share from continuing operations | $ / shares	$ 0.47
As Reported
Business Combinations, Pro Forma
Net sales	$ 1,421
Earnings (loss) from continuing operations attributable to the Company	$ 71
Diluted earnings per share from continuing operations | $ / shares	$ 0.44
Acquisition Adjustments
Business Combinations, Pro Forma
Net sales	$ 207
Earnings (loss) from continuing operations attributable to the Company	23
Financing Adjustments
Business Combinations, Pro Forma
Earnings (loss) from continuing operations attributable to the Company	$ (17)

Discontinued Operations (Detail

Discontinued Operations (Details) $ in Millions	Apr. 04, 2016USD ($)item	Mar. 10, 2015Plant	Mar. 31, 2016USD ($)	Mar. 31, 2015USD ($)
Subsidiaries
Loss from discontinued operations			$ (1)
Disposed Venezuelan subsidiaries
Subsidiaries
Number of member states | item	150
Expropriated plants | Plant		2
Disposed Venezuelan subsidiaries | Discontinued Operations, Disposed of by Means Other than Sale
Subsidiaries
Loss from discontinued operations			$ (1)
Disposed Venezuelan subsidiaries | Minimum
Subsidiaries
Litigation Settlement, Amount	$ 485
Disposed Venezuelan subsidiaries | Maximum | Discontinued Operations, Disposed of by Means Other than Sale
Subsidiaries
Loss from discontinued operations				$ (1)

Financial Information for Sub60

Financial Information for Subsidiary Guarantors and Non-Guarantors - Balance Sheet (Details) $ in Millions	3 Months Ended
	Mar. 31, 2016USD ($)item	Dec. 31, 2015USD ($)	Mar. 31, 2015USD ($)
Financial Information for Subsidiary Guarantors and Non Guarantors
Number of subsidiaries that have guaranteed the notes | item	2
Ownership percentage in Guarantor Subsidiaries	100.00%
Current assets:
Cash and cash equivalents	$ 239	$ 399	$ 257
Trade receivables, net	771	562	667
Inventories	1,107	1,007	1,007
Prepaid Expense and Other Assets, Current	359	366	268
Total current assets	2,476	2,334	2,199
Property, plant and equipment, net	2,996	2,961	2,337
Goodwill	2,532	2,489	1,752
Intangibles	587	597
Other assets	1,097	1,040	1,024
Total assets	9,688	9,421	7,312
Current liabilities:
Short-term loans and long-term debt due within one year	239	228	635
Current portion of asbestos liability	130	130	143
Accounts payable	1,050	1,212	919
Other liabilities	467	552	417
Total current liabilities	1,886	2,122	2,114
Long-term debt	5,662	5,345	2,972
Asbestos-related liabilities	676	687	782
Other long-term liabilities	1,048	988	920
Total share owners' equity of the Company	299	171	401
Noncontrolling interests	117	108	123
Total liabilities and share owners' equity	9,688	9,421	7,312
Eliminations
Current assets:
Investments in and advances to subsidiaries	(2,467)	(2,228)	(2,909)
Total assets	(2,467)	(2,228)	(2,909)
Current liabilities:
Other liabilities	(7)	(2)	(7)
Total current liabilities	(7)	(2)	(7)
Long-term debt	(250)	(250)	(250)
Total share owners' equity of the Company	(2,210)	(1,976)	(2,652)
Total liabilities and share owners' equity	(2,467)	(2,228)	(2,909)
Parent
Current assets:
Investments in and advances to subsidiaries	1,362	1,240	1,583
Total assets	1,362	1,240	1,583
Current liabilities:
Current portion of asbestos liability	130	130	143
Other liabilities	7	2	7
Total current liabilities	137	132	150
Long-term debt	250	250	250
Asbestos-related liabilities	676	687	782
Total share owners' equity of the Company	299	171	401
Total liabilities and share owners' equity	1,362	1,240	1,583
Guarantor Subsidiaries
Current assets:
Investments in and advances to subsidiaries	1,105	988	1,326
Total assets	1,105	988	1,326
Current liabilities:
Total share owners' equity of the Company	1,105	988	1,326
Total liabilities and share owners' equity	1,105	988	1,326
Non-Guarantor Subsidiaries
Current assets:
Cash and cash equivalents	239	399	257
Trade receivables, net	771	562	667
Inventories	1,107	1,007	1,007
Prepaid Expense and Other Assets, Current	359	366	268
Total current assets	2,476	2,334	2,199
Property, plant and equipment, net	2,996	2,961	2,337
Goodwill	2,532	2,489	1,752
Intangibles	587	597
Other assets	1,097	1,040	1,024
Total assets	9,688	9,421	7,312
Current liabilities:
Short-term loans and long-term debt due within one year	239	228	635
Accounts payable	1,050	1,212	919
Other liabilities	467	552	417
Total current liabilities	1,756	1,992	1,971
Long-term debt	5,662	5,345	2,972
Other long-term liabilities	1,048	988	920
Total share owners' equity of the Company	1,105	988	1,326
Noncontrolling interests	117	108	123
Total liabilities and share owners' equity	$ 9,688	$ 9,421	$ 7,312

Financial Information for Sub61

Financial Information for Subsidiary Guarantors and Non-Guarantors - Results of Operations and Comprehensive Income (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Results of Operations
Net sales	$ 1,588	$ 1,421
Cost of goods sold	(1,269)	(1,153)
Gross profit	319	268
Selling and administrative expense	(129)	(124)
Research, development and engineering expense	(15)	(15)
Interest expense, net	(66)	(47)
Other equity earnings	14	15
Other expense, net	(22)	3
Earnings from continuing operations before income taxes	101	100
Provision for income taxes	(27)	(25)
Earnings from continuing operations	74	75
Loss from discontinued operation	(1)
Net earnings	73	75
Net (earnings) attributable to noncontrolling interests	(6)	(4)
Net earnings attributable to the Company	67	71
Comprehensive Income
Net earnings (loss)	73	75
Other comprehensive income, net	50	(220)
Total comprehensive income (loss)	123	(145)
Comprehensive income attributable to noncontrolling interests	(9)
Comprehensive income (loss) attributable to the Company	114	(145)
Parent
Results of Operations
Net intercompany interest	5	7
Interest expense, net	(5)	(7)
Equity earnings from subsidiaries	67	71
Earnings from continuing operations before income taxes	67	71
Earnings from continuing operations	67	71
Net earnings	67	71
Net earnings attributable to the Company	67	71
Comprehensive Income
Net earnings (loss)	67	71
Other comprehensive income, net	50	(216)
Total comprehensive income (loss)	117	(145)
Comprehensive income (loss) attributable to the Company	117	(145)
Guarantor Subsidiaries
Results of Operations
Equity earnings from subsidiaries	67	71
Earnings from continuing operations before income taxes	67	71
Earnings from continuing operations	67	71
Net earnings	67	71
Net earnings attributable to the Company	67	71
Comprehensive Income
Net earnings (loss)	67	71
Other comprehensive income, net	50	(216)
Total comprehensive income (loss)	117	(145)
Comprehensive income (loss) attributable to the Company	117	(145)
Non-Guarantor Subsidiaries
Results of Operations
Net sales	1,588	1,421
Cost of goods sold	(1,269)	(1,153)
Gross profit	319	268
Selling and administrative expense	(129)	(124)
Research, development and engineering expense	(15)	(15)
Net intercompany interest	(5)	(7)
Interest expense, net	(61)	(40)
Other equity earnings	14	15
Other expense, net	(22)	3
Earnings from continuing operations before income taxes	101	100
Provision for income taxes	(27)	(25)
Earnings from continuing operations	74	75
Loss from discontinued operation	(1)
Net earnings	73	75
Net (earnings) attributable to noncontrolling interests	(6)	(4)
Net earnings attributable to the Company	67	71
Comprehensive Income
Net earnings (loss)	73	75
Other comprehensive income, net	50	(220)
Total comprehensive income (loss)	123	(145)
Comprehensive income attributable to noncontrolling interests	(9)
Comprehensive income (loss) attributable to the Company	114	(145)
Eliminations
Results of Operations
Equity earnings from subsidiaries	(134)	(142)
Earnings from continuing operations before income taxes	(134)	(142)
Earnings from continuing operations	(134)	(142)
Net earnings	(134)	(142)
Net earnings attributable to the Company	(134)	(142)
Comprehensive Income
Net earnings (loss)	(134)	(142)
Other comprehensive income, net	(100)	432
Total comprehensive income (loss)	(234)	290
Comprehensive income (loss) attributable to the Company	$ (234)	$ 290

Financial Information for Sub62

Financial Information for Subsidiary Guarantors and Non-Guarantors - Cash Flows (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Cash Flows
Total cash utilized in operating activities	$ (302)	$ (278)
Cash utilized in investing activities	(133)	(157)
Cash provided by financing activities	276	207
Effect of exchange rate fluctuations on cash	(1)	(27)
Decrease in cash	(160)	(255)
Cash at beginning of period	399	512
Cash at end of period	239	257
Parent
Cash Flows
Total cash utilized in operating activities	123	(15)
Cash provided by financing activities	(123)	15
Non-Guarantor Subsidiaries
Cash Flows
Total cash utilized in operating activities	(425)	(263)
Cash utilized in investing activities	(133)	(157)
Cash provided by financing activities	399	192
Effect of exchange rate fluctuations on cash	(1)	(27)
Decrease in cash	(160)	(255)
Cash at beginning of period	399	512
Cash at end of period	$ 239	$ 257