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Debt (Tables)
 12 Months Ended
Dec. 31, 2013
Debt Disclosure [Abstract]  
Carrying Amount and Terms of Non-Recourse Debt
Non-Recourse Debt
The following table summarizes the carrying amount and terms of non-recourse debt as of December 31, 2013 and 2012:
NON-RECOURSE DEBT
Weighted Average Interest Rate
 
Maturity
 
December 31,
 
2013
 
2012
 
 
 
 
 
 
(in millions)
 
VARIABLE RATE:(1)
 
 
 
 
 
 
 
 
Bank loans
3.30
%
 
2014 – 2029
 
$
2,783

 
$
3,556

 
Notes and bonds
10.51
%
 
2014 – 2040
 
1,845

 
1,887

 
Debt to (or guaranteed by) multilateral, export credit agencies or development banks(2)
2.46
%
 
2014 – 2034
 
2,446

 
1,711

 
Other
4.62
%
 
2014 – 2043
 
349

 
349

 
FIXED RATE:
 
 
 
 
 
 
 
 
Bank loans
5.06
%
 
2014 – 2023
 
477

 
209

 
Notes and bonds
6.25
%
 
2014 – 2073
 
7,164

 
6,448

 
Debt to (or guaranteed by) multilateral, export credit agencies or development banks(2)
4.65
%
 
2014 – 2027
 
164

 
411

 
Other
6.55
%
 
2014 – 2061
 
152

 
188

 
SUBTOTAL
 
 
 
 
15,380

(3) 
14,759

(3) 
Less: Current maturities
 
 
 
 
(2,062
)
 
(2,494
)
 
TOTAL
 
 
 
 
$
13,318

 
$
12,265

 

(1)
The interest rate on variable rate debt represents the total of a variable component that is based on changes in an interest rate index and of a fixed component. The Company has interest rate swaps and option agreements in an aggregate notional principal amount of approximately $3.6 billion on non-recourse debt outstanding at December 31, 2013. These agreements economically fix the variable component of the interest rates on the portion of the variable-rate debt being hedged so that the total interest rate on that debt has been fixed at rates ranging from approximately 4.09% to 8.98% and 5.85% to 8.75% for swaps and options, respectively. These agreements expire at various dates from 2014 through 2030.
(2)
Multilateral loans include loans funded and guaranteed by bilaterals, multilaterals, development banks and other similar institutions.
(3) 
Non-recourse debt of $658 million as of December 31, 2013 was excluded from non-recourse debt and included in current and noncurrent liabilities of held for sale and discontinued businesses in the accompanying Consolidated Balance Sheets. There were no amounts excluded in 2012.
Schedule For Maturity For Non-Recourse Debt
Non-recourse debt as of December 31, 2013 is scheduled to reach maturity as set forth in the table below:
December 31,
Annual Maturities
 
(in millions)
2014
$
2,062

2015
692

2016
2,422

2017
792

2018
1,444

Thereafter
7,968

Total non-recourse debt
$
15,380
Debt In Default Table
The following table summarizes the Company’s subsidiary non-recourse debt in default or accelerated as of December 31, 2013 and is included in the current portion of non-recourse debt:
 
Primary Nature
of  Default
 
December 31, 2013
Subsidiary
Default
 
Net Assets
 
 
 
(in millions)
Maritza
Covenant
 
$
850

 
$
714

Kavarna
Covenant
 
205

 
90

Total
 
 
$
1,055

 
 
Schedule of Recourse Debt Detail
The following table summarizes the carrying amount and terms of recourse debt of the Company as of December 31, 2013 and 2012:
 
Interest Rate
 
Final
Maturity
 
December 31,
RECOURSE DEBT
2013
 
2012
 
 
 
 
 
(in millions)
Senior Unsecured Note
7.75%
 
2014
 
110

 
500

Senior Unsecured Note
7.75%
 
2015
 
356

 
500

Senior Unsecured Note
9.75%
 
2016
 
369

 
535

Senior Unsecured Note
8.00%
 
2017
 
1,150

 
1,500

Senior Secured Term Loan
LIBOR + 2.75%
 
2018
 
799

 
807

Senior Unsecured Note
8.00%
 
2020
 
625

 
625

Senior Unsecured Note
7.38%
 
2021
 
1,000

 
1,000

Senior Unsecured Note
4.88%
 
2023
 
750

 
—

Term Convertible Trust Securities
6.75%
 
2029
 
517

 
517

Unamortized discounts
 
 
 
 
(7
)
 
(22
)
SUBTOTAL
 
 
 
 
5,669

 
5,962

Less: Current maturities
 
 
 
 
(118
)
 
(11
)
Total
 
 
 
 
$
5,551

 
$
5,951

 
 
 
 
 
 
December 31,
 
 
Interest Rate
 
Maturity
 
2013
 
2012
 
 
 
 
 
 
(in millions)
Senior Unsecured Note
 
7.75%
 
2014
 
$
110

 
$
500

Senior Unsecured Note
 
7.75%
 
2015
 
356

 
500

Senior Unsecured Note
 
9.75%
 
2016
 
369

 
535

Senior Unsecured Note
 
8.00%
 
2017
 
1,150

 
1,500

Senior Secured Term Loan
 
LIBOR + 2.75%
 
2018
 
799

 
807

Revolving Loan under Senior Secured Credit Facility
 
LIBOR + 2.25%
 
2018
 
—

 
—

Senior Unsecured Note
 
8.00
%
 
2020
 
625

 
625

Senior Unsecured Note
 
7.38%
 
2021
 
1,000

 
1,000

Senior Unsecured Note
 
4.88%
 
2023
 
750

 
—

Unamortized discounts
 
 
 
 
 
(7
)
 
(22
)
SUBTOTAL
 
 
 
 
 
5,152

 
5,445

Less: Current maturities
 
 
 
 
 
(118
)
 
(11
)
Total
 
 
 
 
 
$
5,034

 
$
5,434
Schedule of Future Maturities of Recourse Debt
 
Interest Rate
 
Final
Maturity
 
December 31,
RECOURSE DEBT
2013
 
2012
 
 
 
 
 
(in millions)
Senior Unsecured Note
7.75%
 
2014
 
110

 
500

Senior Unsecured Note
7.75%
 
2015
 
356

 
500

Senior Unsecured Note
9.75%
 
2016
 
369

 
535

Senior Unsecured Note
8.00%
 
2017
 
1,150

 
1,500

Senior Secured Term Loan
LIBOR + 2.75%
 
2018
 
799

 
807

Senior Unsecured Note
8.00%
 
2020
 
625

 
625

Senior Unsecured Note
7.38%
 
2021
 
1,000

 
1,000

Senior Unsecured Note
4.88%
 
2023
 
750

 
—

Term Convertible Trust Securities
6.75%
 
2029
 
517

 
517

Unamortized discounts
 
 
 
 
(7
)
 
(22
)
SUBTOTAL
 
 
 
 
5,669

 
5,962

Less: Current maturities
 
 
 
 
(118
)
 
(11
)
Total
 
 
 
 
$
5,551

 
$
5,951


The table below summarizes the principal amounts due, net of unamortized discounts, under our recourse debt for the next five years and thereafter:
December 31,
Net Principal Amounts Due
 
(in millions)
2014
$
118

2015
364

2016
368

2017
1,158

2018
764

Thereafter
2,897

Total recourse debt
$
5,669

December 31,
Annual Maturities
 
(in millions)
2014
$
118

2015
364

2016
368

2017
1,158

2018
764

Thereafter
2,897

Total debt
$
5,669