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Derivative Financial Instruments (Tables)
 12 Months Ended
Dec. 31, 2015
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of Derivative Instruments
The following table presents the fair value of derivative contracts by major product type on a gross basis. Gross fair values exclude the effects of both counterparty netting and collateral, and therefore are not representative of our exposure. The table below also presents the amounts of counterparty netting and cash collateral that have been offset in the consolidated balance sheet.
 
December 31, 2015
 
December 31, 2014
 
Derivative Financial Assets
 
Derivative Financial Liabilities
 
Derivative Financial Assets
 
Derivative Financial Liabilities
 
(in millions)
Derivatives(1)
 
 
 
 
 
 
 
Derivatives accounted for as cash flow hedges associated with debt:
 
 
 
 
 
 
 
Interest rate swaps
$
—

 
$
(18
)
 
$
7

 
$
(74
)
Currency swaps
97

 
(178
)
 
97

 
(133
)
Cash flow hedges
97

 
(196
)
 
104

 
(207
)
 
 
 
 
 
 
 
 
Non-qualifying hedge activities:
 
 
 
 
 
 
 
Derivatives not designated as hedging instruments:
 
 
 
 
 
 
 
Interest rate swaps
20

 
(286
)
 
20

 
(379
)
Derivatives not designated as hedging instruments
20

 
(286
)
 
20

 
(379
)
 
 
 
 
 
 
 
 
Derivatives associated with debt carried at fair value:
 
 
 
 
 
 
 
Interest rate swaps
4

 
—

 
117

 
—

Currency swaps
14

 
(201
)
 
50

 
—

Derivatives associated with debt carried at fair value
18

 
(201
)
 
167

 
—

Total derivatives
135

 
(683
)
 
291

 
(586
)
Less: Gross amounts offset in the balance sheet(2)
(135
)
 
626

 
(291
)
 
504

Net amounts of derivative financial assets and liabilities presented in the balance sheet(3)
$
—

 
$
(57
)
 
$
—

 
$
(82
)
 

(1) 
All of our derivatives are bilateral over-the-counter ("OTC") derivatives.
(2) 
Represents the netting of derivative receivable and payable balances for the same counterparty under an enforceable netting agreement. Gross amounts offset in the balance sheet includes cash collateral paid of $491 million at December 31, 2015 and $213 million at December 31, 2014. At December 31, 2015 and December 31, 2014, we did not have any financial instrument collateral received/posted.
(3) 
At December 31, 2015 and December 31, 2014, we had not received any cash not subject to an enforceable master netting agreement.
Gain or Loss Recorded on Our Cash Flow Hedging Relationships
The following table provides the gain or loss recorded on our cash flow hedging relationships.
 
Gain (Loss) Recognized in AOCI on Derivative (Effective Portion)
 
Location of Gain
(Loss) Reclassified
from AOCI into Income
(Effective Portion)
 
Gain (Loss) Reclassed From AOCI into Income (Effective Portion)
 
Location of Gain
(Loss) Recognized
in Income on the Derivative(Ineffective Portion)
 
Gain (Loss) Recognized In Income on Derivative (Ineffective Portion)
 
2015
 
2014
 
2013
 
2015
 
2014
 
2013
 
 
2015
 
2014
 
2013
 
(in millions)
Year Ended December 31,
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Interest rate swaps
$
43

 
$
45

 
$
118

 
Interest expense
 
$
—

 
$
1

 
$
(2
)
 
Derivative related income (expense)
 
$
—

 
$
—

 
$
2

Currency swaps
2

 
14

 
73

 
Interest expense
 
(13
)
 
(12
)
 
(13
)
 
Derivative related income (expense)
 
18

 
14

 
27

 
—

 
—

 
—

 
Derivative loss recognized on termination of hedges
 
—

 
—

 
(199
)
 
 
 
—

 
—

 
—

Total
$
45

 
$
59

 
$
191

 
 
 
$
(13
)
 
$
(11
)
 
$
(214
)
 
 
 
$
18

 
$
14

 
$
29
Gain or Loss Recorded on Our Non Qualifying Hedges
The following table provides detail of the realized and unrealized gain or loss recorded on our non-qualifying hedges:
 
Location of Gain (Loss) Recognized in Income on Derivative
Amount of Gain (Loss) Recognized in Derivative Related Expense
Year Ended December 31,
2015
 
2014
 
2013
 
 
(in millions)
Interest rate contracts
Derivative related income (expense)
$
(115
)
 
$
(317
)
 
$
315

Total
 
$
(115
)
 
$
(317
)
 
$
315
Gain or Loss Recorded on Derivatives Related to Fair Value Option Debt Primarily Due to Changes in Interest Rates
The following table provides the gain or loss recorded on the derivatives related to fair value option debt. See Note 10, “Fair Value Option,” for further discussion.
 
Location of Gain (Loss)
Recognized in Income on Derivative
Amount of Gain (Loss) Recognized in Derivative Related Expense
 
Year Ended December 31,
 
2015
 
2014
 
2013
 
 
(in millions)
Interest rate contracts
Gain (loss) on debt designated at fair value and related derivatives
$
3

 
$
9

 
$
10

Currency contracts
Gain (loss) on debt designated at fair value and related derivatives
(21
)
 
4

 
(25
)
Total
 
$
(18
)
 
$
13

 
$
(15
)
Notional Values of Derivative Contracts
The following table provides the notional amounts of derivative contracts.
 
December 31, 2015
 
December 31, 2014
 
(in millions)
Derivatives designated as hedging instruments:
 
 
 
Interest rate swaps
$
1,300

 
$
1,959

Currency swaps
1,588

 
2,248

 
2,888

 
4,207

Non-qualifying hedges:
 
 
 
Derivatives not designated as hedging instruments:
 
 
 
Interest rate swaps
2,624

 
3,199

 
2,624

 
3,199

Derivatives associated with debt carried at fair value:
 
 
 
Interest rate swaps
1,859

 
3,682

Currency swaps
1,562

 
2,892

 
3,421

 
6,574

Total
$
8,933

 
$
13,980