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Fair Value Option (Tables)
 12 Months Ended
Dec. 31, 2016
Fair Value Disclosures [Abstract]  
Fair Value, Liabilities Measured on Recurring Basis
The following table summarizes fixed rate debt issuances accounted for under fair value option reporting ("FVO"):
 
December 31, 2016
 
December 31, 2015
 
(in millions)
Fixed rate debt accounted for under FVO reported in:
 
 
 
Long-term debt
$
1,317

 
$
3,257

Due to affiliates
485

 
496

Total fixed rate debt accounted for under FVO
$
1,802

 
$
3,753

 
 
 
 
Unpaid principal balance of fixed rate debt accounted for under FVO(1)
$
1,712

 
$
3,598

 
 
 
 
Fixed rate long-term debt not accounted for under FVO
$
2,619

 
$
4,074

 
(1) 
Balance includes a foreign currency translation adjustment relating to our foreign denominated FVO debt which decreased the debt balance by $310 million at December 31, 2016 and decreased the debt balance by $283 million at December 31, 2015.
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 years ended December 31, 2016, 2015 and 2014:
Year Ended December 31,
2016
 
2015
 
2014
 
(in millions)
Mark-to-market on debt designated at fair value(1):
 
 
 
 
 
Interest rate component
$
75

 
$
189

 
$
168

Credit risk component
(10
)
 
42

 
27

Total mark-to-market on debt designated at fair value
65

 
231

 
195

Mark-to-market on the related derivatives(1)(2)
(61
)
 
(213
)
 
(254
)
Net realized gains on the related derivatives(1)
48

 
195

 
267

Gain on debt designated at fair value and related derivatives
$
52

 
$
213

 
$
208

 
(1) 
The derivatives associated with debt designated at fair value are economic hedges but do not qualify for hedge accounting. See Note 10, "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 $27 million, a gain of $264 million and a gain of $391 million for the years ended December 31, 2016, 2015 and 2014, respectively. Offsetting gains (losses) recorded in derivative related income (expense) associated with the related derivatives was a loss of $27 million, a loss of $264 million and a loss of $391 million for the years ended December 31, 2016, 2015 and 2014, respectively.