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Fair Value Option (Tables)
 12 Months Ended
Dec. 31, 2015
Fair Value Disclosures [Abstract]  
Fair Value, Liabilities Measured on Recurring Basis
The following table summarizes fixed rate debt issuances accounted for under FVO:
 
December 31, 2015
 
December 31, 2014
 
(in millions)
Fixed rate debt accounted for under FVO reported in:
 
 
 
Long-term debt
$
3,257

 
$
6,762

Due to affiliates
496

 
512

Total fixed rate debt accounted for under FVO
$
3,753

 
$
7,274

 
 
 
 
Unpaid principal balance of fixed rate debt accounted for under FVO(1)
$
3,598

 
$
6,888

 
 
 
 
Fixed rate long-term debt not accounted for under FVO
$
4,074

 
$
5,863

 
(1) 
Balance includes a foreign currency translation adjustment relating to our foreign denominated FVO debt which decreased the debt balance by $283 million at December 31, 2015 and decreased the debt balance by $146 million at December 31, 2014.
Components of Gain (Loss) on Debt Designated at Fair Value and Related Derivatives
The following table summarizes the components of the gain on debt designated at fair value and related derivatives for the years ended December 31, 2015, 2014 and 2013:
Year Ended December 31,
2015
 
2014
 
2013
 
(in millions)
Mark-to-market on debt designated at fair value(1):
 
 
 
 
 
Interest rate component
$
189

 
$
168

 
$
314

Credit risk component
42

 
27

 
(71
)
Total mark-to-market on debt designated at fair value
231

 
195

 
243

Mark-to-market on the related derivatives(1)(2)
(213
)
 
(254
)
 
(333
)
Net realized gains on the related derivatives(1)
195

 
267

 
318

Gain on debt designated at fair value and related derivatives
$
213

 
$
208

 
$
228

 
(1) 
The derivatives associated with debt designated at fair value are economic hedges but do not qualify for hedge accounting. See Note 11, "Derivative Financial Instruments," for additional discussion of these non-qualifying hedges.
(2) 
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 gain of $264 million, a gain of $391 million and a loss of $73 million for the years ended December 31, 2015, 2014 and 2013, respectively. Offsetting gains (losses) recorded in derivative related income (expense) associated with the related derivatives was a loss of $264 million, a loss of $391 million and a gain of $73 million for the years ended December 31, 2015, 2014 and 2013, respectively.