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Derivative Instruments and Hedging Activities (Tables)
 6 Months Ended
Jun. 30, 2016
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Interest Rate And Cross Currency Derivatives By Type Table
The following table presents the Company’s significant outstanding notional (in millions) by type of derivative as of June 30, 2016, regardless of whether they are in qualifying cash flow hedging relationships, and the dates through which the maturities for each type of derivative range:
Derivatives
 
Current Notional Translated to USD
 
Latest Maturity
Interest Rate (LIBOR and EURIBOR)
 
$
3,267

 
2033
Cross-Currency Swaps (Chilean Unidad de Fomento and Chilean Peso)
 
375

 
2029
Foreign Currency:
 
 
 
 
Argentine Peso
 
161

 
2026
Chilean Unidad de Fomento
 
264

 
2019
Others, primarily with weighted average remaining maturities of a year or less
 
861

 
2018
Derivative Assets Liabilities At Fair Value Net By Balance Sheet Classification And Type Table
The following tables present the fair value of assets and liabilities related to the Company’s derivative instruments as of June 30, 2016 and December 31, 2015 (in millions):
Fair Value
June 30, 2016
 
December 31, 2015
Assets
Designated
 
Not Designated
 
Total
 
Designated
 
Not Designated
 
Total
Cross-currency derivatives
$
1

 
$
—

 
$
1

 
$
—

 
$
—

 
$
—

Foreign currency derivatives
10

 
307

 
317

 
8

 
319

 
327

Commodity derivatives
27

 
39

 
66

 
30

 
18

 
48

Total assets
$
38

 
$
346

 
$
384

 
$
38

 
$
337

 
$
375

Liabilities
 
 
 
 
 
 
 
 
 
 
 
Interest rate derivatives
$
524

 
$
1

 
$
525

 
$
358

 
$
—

 
$
358

Cross-currency derivatives
39

 
—

 
39

 
43

 
—

 
43

Foreign currency derivatives
36

 
30

 
66

 
35

 
21

 
56

Commodity derivatives
26

 
32

 
58

 
12

 
21

 
33

Total liabilities
$
625

 
$
63

 
$
688

 
$
448

 
$
42

 
$
490

 
June 30, 2016
 
December 31, 2015
Fair Value
Assets
 
Liabilities
 
Assets
 
Liabilities
Current
$
104

 
$
172

 
$
86

 
$
144

Noncurrent
280

 
516

 
289

 
346

Total
$
384

 
$
688

 
$
375

 
$
490

 
 
 
 
 
 
 
 
Credit Risk-Related Contingent Features (1)
 
 
 
 
June 30, 2016
 
December 31, 2015
Present value of liabilities subject to collateralization
 
$
68

 
$
58

Cash collateral held by third parties or in escrow
 
$
34

 
$
38
Gain Loss In Earnings On Ineffective Portion Of Qualifying Cash Flow Hedges Table
The next table presents (in millions) the pretax gains (losses) recognized in AOCL and earnings related to all derivative instruments for the periods indicated:
 
Three Months Ended June 30,
 
Six Months Ended June 30,
2016
 
2015
 
2016
 
2015
Effective portion of cash flow hedges:
 
 
 
 
 
 
 
Gain (Losses) recognized in AOCL
 
 
 
 
 
 
 
Interest rate derivatives
$
(90
)
 
$
94

 
$
(220
)
 
$
(4
)
Cross-currency derivatives
(11
)
 
1

 
(3
)
 
1

Foreign currency derivatives
(5
)
 
(1
)
 
(5
)
 
1

Commodity derivatives
(12
)
 
8

 
25

 
15

Total
$
(118
)
 
$
102

 
$
(203
)
 
$
13

Gain (Losses) reclassified from AOCL into earnings
 
 
 
 
 
 
 
Interest rate derivatives
$
(26
)
 
$
(16
)
 
$
(55
)
 
$
(40
)
Cross-currency derivatives
1

 
—

 
10

 
(1
)
Foreign currency derivatives
2

 
2

 
4

 
8

Commodity derivatives
16

 
6

 
38

 
11

Total
$
(7
)
 
$
(8
)
 
$
(3
)

$
(22
)
Gain (Losses) recognized in earnings related to
 
 
 
 
 
 
 
Ineffective portion of cash flow hedges
$
—

 
$
(1
)
 
$
2

 
$
(3
)
Not designated as hedging instruments:
 
 
 
 
 
 
 
Foreign currency derivatives
(24
)
 
7

 
15

 
39

Commodity derivatives and Other
(9
)
 
—

 
(17
)
 
(8
)
Total
$
(33
)
 
$
7

 
$
(2
)
 
$
31

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Twelve Months Ended June 30, 2017
AOCL expected to decrease pre-tax income from continuing operations (1)
 
$
119