Derivative Instruments and Hedging Activities (Tables)

12 Months Ended

Dec. 31, 2015

Derivative Instruments and Hedging Activities Disclosure [Abstract]

The following tables present, by type of derivative, the Company's outstanding notional under its derivatives and the weighted-average remaining term as of December 31, 2015 regardless of whether the derivative instruments are in qualifying cash flow hedging relationships:



	Current			Maximum
Interest Rate and Cross Currency ⁽¹⁾	Derivative Notional	Derivative Notional Translated to USD		Derivative Notional	Derivative Notional Translated to USD		Weighted-Average Remaining Term	% of Debt Currently Hedged by Index ⁽²⁾
	(in millions)						(in years)
Interest Rate Derivatives:
LIBOR (U.S. Dollar)	2,639	$	2,639	2,872	$	2,872	11	48	%
EURIBOR (Euro)	482	524		482	524		6	83	%
Cross Currency Swaps:
Chilean Unidad de Fomento	4	159		4	159		13	76	%

_____________________________

⁽¹⁾

The Company's interest rate derivative instruments primarily include accreting and amortizing notionals. The maximum derivative notional represents the largest notional at any point between December 31, 2015 and the maturity of the derivative instrument, which includes forward-starting derivative instruments. The interest rate and cross currency derivatives range in maturity through 2033 and 2028, respectively.


⁽²⁾	The percentage of variable-rate debt currently hedged is based on the related index and excludes forecasted issuances of debt and variable-rate debt tied to other indices where the Company has no interest rate derivatives.

Foreign Currency Derivatives By Type Table



	December 31, 2015
Foreign Currency Derivatives	Notional⁽¹⁾		Notional Translated to USD		Weighted-Average Remaining Term⁽²⁾
	(in millions)				(in years)
Foreign Currency Derivatives
Argentine Peso	$	2,321	$	178	10
Brazilian Real	80		21		<1
British Pound	22		32		<1
Chilean Peso	84,669		119		<1
Chilean Unidad de Fomento	9		311		<1
Colombian Peso	252,166		80		<1
Euro	32		35		<1
Kazakhstani Tenge	1,691		5		1

_____________________________


⁽¹⁾	Represents contractual notionals. The notionals for options have not been probability adjusted, which generally would decrease them.


⁽²⁾	Represents the remaining tenor of our foreign currency derivatives weighted by the corresponding notional. These derivatives matures through 2026

Commodity Derivatives By Type Table



December 31, 2015		Weighted-Average
Commodity Derivatives	Notional	Remaining Term⁽¹⁾
	(in millions)	(in years)
Power (MWh)	10	3

_____________________________


⁽¹⁾	Represents the remaining tenor of our commodity derivatives weighted by the corresponding volume. These derivatives range in maturity through 2018.

Derivative Assets Liabilities At Fair Value Net By Balance Sheet Classification And Type Table

The following tables present in millions the Company's derivative instruments as of the periods indicated, first by whether or not they are designated hedging instruments, then by whether they are current or noncurrent to the extent they are subject to master netting agreements or similar agreements (where the rights to set-off relate to settlement of amounts receivable and payable under those derivatives) and by balances no longer accounted for as derivatives.



	December 31, 2015						December 31, 2014
	Designated		Not Designated		Total		Designated		Not Designated		Total
Assets
Foreign currency derivatives	$	8	$	319	$	327	$	6	$	230	$	236
Commodity derivatives	30		18		48		25		19		44
Total assets	$	38	$	337	$	375	$	31	$	249	$	280
Liabilities
Interest rate derivatives	$	358	$	—	$	358	$	416	$	—	$	416
Cross currency derivatives	43		—		43		29		—		29
Foreign currency derivatives	35		21		56		38		14		52
Commodity derivatives	12		21		33		7		10		17
Total liabilities	$	448	$	42	$	490	$	490	$	24	$	514



	December 31, 2015						December 31, 2014
	Assets			Liabilities			Assets			Liabilities
Current	$	86		$	144		$	77		$	148
Noncurrent	289			346			203			366
Total	$	375		$	490		$	280		$	514
Derivatives subject to master netting agreement or similar agreement:
Gross amounts recognized in the balance sheet	$	57		$	467		$	53		$	507
Gross amounts of derivative instruments not offset	(18		)	(18		)	(10		)	(10		)
Gross amounts of cash collateral received/pledged not offset	—			(38		)	—			(26		)
Net amount	$	39		$	411		$	43		$	471
Other balances that had been, but are no longer, accounted for as derivatives that are to be amortized to earnings over the remaining term of the associated PPA	$	147		$	166		$	161		$	180

Gain Loss In Accumulated Other Comprehensive Income And Earnings On Effective Portion Of Qualifying Cash Flow Hedges Table

The following tables present (in millions) the pretax gains (losses) recognized in AOCL and earnings related to the effective portion of derivative instruments in qualifying cash flow hedging relationships (including amounts that were reclassified from AOCL as interest expense related to interest rate derivative instruments that previously, but no longer, qualify for cash flow hedge accounting), as defined in the accounting standards for derivatives and hedging, for the periods indicated:



Years Ended December 31,	Gains (Losses) Recognized in AOCL									Classification in Consolidated Statements of Operations	Gains (Losses) Reclassified from AOCL into Earnings
Type of Derivative	2015			2014			2013			Classification in Consolidated Statements of Operations	2015			2014			2013
Interest rate derivatives	$	(103	)	$	(421	)	$	155		Interest expense	$	(108	)	$	(139	)	$	(127	)
										Non-regulated cost of sales	(2		)	(2		)	(5		)
										Net equity in earnings of affiliates	(2		)	(3		)	(6		)
										Gain on sale of investments	(4		)	—			(21		)
Cross currency derivatives	(20		)	(25		)	(18		)	Interest expense	(4		)	—			(10		)
										Foreign currency transaction gains (losses)	(20		)	(23		)	(18		)
Foreign currency derivatives	10			(28		)	—			Foreign currency transaction gains (losses)	32			14			12
Commodity derivatives	40			44			2			Non-regulated revenue	43			30			(3		)
										Non-regulated cost of sales	(12		)	(2		)	(2		)
Total	$	(73	)	$	(430	)	$	139			$	(77	)	$	(125	)	$	(180	)

Gain Loss In Earnings On Ineffective Portion Of Qualifying Cash Flow Hedges Table

The following table presents (in millions) the pretax gains (losses) recognized in earnings related to the ineffective portion of derivative instruments in qualifying cash flow hedging relationships, as defined in the accounting standards for derivatives and hedging, for the periods indicated:



		Gains (Losses) Recognized in Earnings
	Classification in Consolidated Statements of Operations	Years Ended December 31,
Type of Derivative	Classification in Consolidated Statements of Operations	2015			2014			2013
Interest rate derivatives	Interest expense	$	(4	)	$	—		$	42
	Net equity in earnings of affiliates	—			(1		)	1
Foreign currency derivatives	Foreign currency transaction gains (losses)	(3		)	(2		)	—
Cross currency derivatives	Interest expense	1			(1		)	—
Total		$	(6	)	$	(4	)	$	43

Gain Loss In Earnings On Non Hedging Instruments Table

The next table presents (in millions) the gains (losses) recognized in earnings related to derivative instruments not designated as hedging instruments under the accounting standards for derivatives and hedging, and amortization of balances that had been, but are no longer, accounted for as derivatives, for the periods indicated:



		Gains (Losses) Recognized in Earnings
	Classification in Consolidated Statements of Operations	Years Ended December 31,
Type of Derivative	Classification in Consolidated Statements of Operations	2015			2014			2013
Interest rate derivatives	Interest expense	$	—		$	(3	)	$	(1	)
	Net equity in earnings of affiliates	—			—			(6		)
Foreign currency derivatives	Foreign currency transaction gains (losses)	211			146			64
	Net equity in earnings of affiliates	—			(2		)	(24		)
Commodity and other derivatives	Non-regulated revenue	(8		)	5			11
	Non-regulated cost of sales	(16		)	(3		)	1
	Regulated cost of sales	(5		)	(6		)	2
	Income (loss) from operations of discontinued businesses	—			(7		)	(18		)
	Net gain (loss) from disposal and impairments of discontinued operations	—			72			—
Total		$	182		$	202		$	29