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Derivative Instruments and Hedging Activities (Tables)
 12 Months Ended
Dec. 31, 2018
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Interest Rate 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 December 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)
 
$
4,584

 
2044
Cross-currency Swaps (Chilean Unidad de Fomento and Chilean peso)
 
344

 
2029
Foreign Currency:
 
 
 
 
Argentine peso
 
68

 
2026
Chilean peso
 
270

 
2021
Colombian peso
 
117

 
2021
Brazilian real
 
23

 
2019
Others, primarily with weighted average remaining maturities of a year or less
 
112

 
2021
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 the periods indicated (in millions):
Fair Value
 
December 31, 2018
 
December 31, 2017
Assets
 
Designated
 
Not Designated
 
Total
 
Designated
 
Not Designated
 
Total
Interest rate derivatives
 
$
29

 
$
—

 
$
29

 
$
15

 
$
—

 
$
15

Cross-currency derivatives
 
6

 
—

 
6

 
29

 
—

 
29

Foreign currency derivatives
 
—

 
217

 
217

 
8

 
261

 
269

Commodity derivatives
 
—

 
10

 
10

 
5

 
30

 
35

Total assets
 
$
35

 
$
227

 
$
262

 
$
57

 
$
291

 
$
348

Liabilities
 
 
 
 
 
 
 
 
 
 
 
 
Interest rate derivatives
 
$
205

 
$
3

 
$
208

 
$
125

 
$
137

 
$
262

Cross-currency derivatives
 
5

 
—

 
5

 
3

 
—

 
3

Foreign currency derivatives
 
28

 
13

 
41

 
1

 
29

 
30

Commodity derivatives
 
—

 
3

 
3

 
9

 
11

 
20

Total liabilities
 
$
238

 
$
19

 
$
257

 
$
138

 
$
177

 
$
315

 
 
December 31, 2018
 
December 31, 2017
Fair Value
 
Assets
 
Liabilities
 
Assets
 
Liabilities
Current
 
$
75

 
$
51

 
$
84

 
$
211

Noncurrent
 
187

 
206

 
264

 
104

Total
 
$
262

 
$
257

 
$
348

 
$
315


As of December 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 Accumulated Other Comprehensive Income And Earnings On Effective Portion Of Qualifying Cash Flow Hedges Table The following table presents the pre-tax gains (losses) recognized in AOCL and earnings related to all derivative instruments for the periods indicated (in millions):
 
 
Years Ended December 31,
2018
 
2017
 
2016
Effective portion of cash flow hedges
 
 
 
 
 
 
Gains (losses) recognized in AOCL
 
 
 
 
 
 
Interest rate derivatives
 
$
(16
)
 
$
(66
)
 
$
(35
)
Cross-currency derivatives
 
(26
)
 
31

 
21

Foreign currency derivatives
 
(52
)
 
(5
)
 
(4
)
Commodity derivatives
 
—

 
18

 
30

Total
 
$
(94
)
 
$
(22
)
 
$
12

Gains (losses) reclassified from AOCL to earnings
 
 
 
 
 
 
Interest rate derivatives
 
$
(52
)
 
$
(82
)
 
$
(101
)
Cross-currency derivatives
 
(43
)
 
34

 
8

Foreign currency derivatives
 
(16
)
 
(20
)
 
(8
)
Commodity derivatives
 
(6
)
 
17

 
56

Total
 
$
(117
)
 
$
(51
)
 
$
(45
)
Loss reclassified from AOCL to earnings due to discontinuance of hedge accounting (1)
 
$
—

 
$
(13
)
 
$
—

Gain (losses) recognized in earnings related to
 
 
 
 
 
 
Ineffective portion of cash flow hedges
 
$
(7
)
 
$
3

 
$
(1
)
Not designated as hedging instruments:
 
 
 
 
 
 
Foreign currency derivatives
 
148

 
1

 
19

Commodity derivatives and other
 
25

 
14

 
(16
)
Total
 
$
173

 
$
15

 
$
3