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Derivative Instruments and Hedging Activities (Tables)
 3 Months Ended
Mar. 31, 2018
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Interest Rate And Cross Currency Derivatives By Type Table
The following table presents the Company’s maximum notional (in millions) over the remaining contractual period by type of derivative as of March 31, 2018, 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
 
Maximum Notional Translated to USD
 
Latest Maturity
Interest Rate (LIBOR and EURIBOR)
 
$
4,475

 
2041
Cross-Currency Swaps (Chilean Unidad de Fomento and Chilean Peso)
 
419

 
2029
Foreign Currency:
 
 
 
 
Argentine Peso
 
180

 
2026
Chilean Peso
 
388

 
2020
Colombian Peso
 
285

 
2019
Others, primarily with weighted average remaining maturities of a year or less
 
327

 
2020
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 March 31, 2018 and December 31, 2017 (in millions):
Fair Value
March 31, 2018
 
December 31, 2017
Assets
Designated
 
Not Designated
 
Total
 
Designated
 
Not Designated
 
Total
Interest rate derivatives
$
41

 
$
1

 
$
42

 
$
15

 
$
—

 
$
15

Cross-currency derivatives
45

 
—

 
45

 
29

 
—

 
29

Foreign currency derivatives
13

 
249

 
262

 
8

 
261

 
269

Commodity derivatives
—

 
11

 
11

 
5

 
30

 
35

Total assets
$
99

 
$
261

 
$
360

 
$
57

 
$
291

 
$
348

Liabilities
 
 
 
 
 
 
 
 
 
 
 
Interest rate derivatives
$
90

 
$
120

 
$
210

 
$
125

 
$
137

 
$
262

Cross-currency derivatives
1

 
—

 
1

 
3

 
—

 
3

Foreign currency derivatives
1

 
40

 
41

 
1

 
29

 
30

Commodity derivatives
—

 
1

 
1

 
9

 
11

 
20

Total liabilities
$
92

 
$
161

 
$
253

 
$
138

 
$
177

 
$
315

 
March 31, 2018
 
December 31, 2017
Fair Value
Assets
 
Liabilities
 
Assets
 
Liabilities
Current
$
70

 
$
170

 
$
84

 
$
211

Noncurrent
290

 
83

 
264

 
104

Total
$
360

 
$
253

 
$
348

 
$
315


As of March 31, 2018, all derivative instruments subject to credit risk-related contingent features were in an asset position.
Credit Risk-Related Contingent Features (1)
 
 
 
 
 
December 31, 2017
Present value of liabilities subject to collateralization
 
 
$
15

Cash collateral held by third parties or in escrow
 
 
9

 _____________________________
(1) 
Based on the credit rating of certain subsidiaries
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 March 31,
2018
 
2017
Effective portion of cash flow hedges
 
 
 
Gains (losses) recognized in AOCL
 
 
 
Interest rate derivatives
$
47

 
$
(22
)
Cross-currency derivatives
19

 
12

Foreign currency derivatives
6

 
(15
)
Commodity derivatives
—

 
12

Total
$
72

 
$
(13
)
Gains (losses) reclassified from AOCL into earnings
 
 
 
Interest rate derivatives
$
(16
)
 
$
(24
)
Cross-currency derivatives
10

 
4

Foreign currency derivatives
1

 
(2
)
Commodity derivatives
(4
)
 
1

Total
$
(9
)

$
(21
)
Gains (losses) recognized in earnings related to
 
 
 
Not designated as hedging instruments:
 
 
 
Foreign currency derivatives
$
108

 
$
(32
)
Commodity derivatives and other
9

 
(2
)
Total
$
117

 
$
(34
)