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Fair Value Option (Tables)
 12 Months Ended
Dec. 31, 2013
Fair Value Disclosures [Abstract]  
Fair Value, Liabilities Measured on Recurring Basis
We have elected to apply fair value option (“FVO”) reporting to certain of our fixed rate debt issuances which also qualify for FVO reporting under International Financial Reporting Standards. The following table summarizes fixed rate debt issuances accounted for under FVO:
 
December 31, 2013
 
December 31, 2012
 
(in millions)
Fixed rate debt accounted for under FVO reported in:
 
 
 
Long-term debt
$
8,025

 
$
9,725

Due to affiliates
496

 
514

Total fixed rate debt accounted for under FVO
$
8,521

 
$
10,239

 
 
 
 
Unpaid principal balance of fixed rate debt accounted for under FVO(1)
$
7,942

 
$
9,415

 
 
 
 
Fixed rate long-term debt not accounted for under FVO
$
7,083

 
$
8,057

 
(1) 
Balance includes a foreign currency translation adjustment relating to our foreign denominated FVO debt which increased the debt balance by $245 million and $247 million at December 31, 2013 and December 31, 2012, respectively.
Components of Gain (Loss) on Debt Designated at Fair Value and Related Derivatives
The following table summarizes the components of the gain (loss) on debt designated at fair value and related derivatives for the year ended December 31, 2013, 2012 and 2011:
Year Ended December 31,
2013
 
2012
 
2011
 
(in millions)
Mark-to-market on debt designated at fair value(1):
 
 
 
 
 
Interest rate component
$
314

 
$
166

 
$
25

Credit risk component
(71
)
 
(758
)
 
616

Total mark-to-market on debt designated at fair value
243

 
(592
)
 
641

Mark-to-market on the related derivatives(1)
(333
)
 
(260
)
 
(81
)
Net realized gains on the related derivatives
318

 
403

 
604

Gain (loss) on debt designated at fair value and related derivatives
$
228

 
$
(449
)
 
$
1,164

 
(1) 
Mark-to-market on debt designated at fair value and related derivatives excludes market value changes due to fluctuations in foreign currency exchange rates. Foreign currency translation gains (losses) recorded in derivative related income (expense) associated with debt designated at fair value was a loss of $73 million, a loss of $35 million and a gain of $63 million during 2013, 2012 and 2011, respectively. Offsetting gains (losses) recorded in derivative related income (expense) associated with the related derivatives was and a gain of $73 million, a gain of $35 million and a loss of $63 million during 2013, 2012 and 2011, respectively.