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Derivative Instruments and Hedging Activities (Tables)
 12 Months Ended
Dec. 31, 2020
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, 2020, regardless of whether they are in qualifying cash flow hedging relationships, and the dates through which the maturities for each type of derivative range:
Interest Rate and Foreign Currency DerivativesMaximum Notional Translated to USDLatest Maturity
Interest Rate (LIBOR and EURIBOR)$4,772 2047
Cross-currency swaps (Chilean Unidad de Fomento and Brazilian Reais)246 2028
Foreign Currency:
Argentine peso56 2026
Chilean peso318 2022
Colombian peso190 2023
Euro149 2023
Others, primarily with weighted average remaining maturities of a year or less31 2022
Commodity Derivatives By Type Table
Commodity DerivativesMaximum NotionalLatest Maturity
Natural Gas (in MMBtu)23 2021
Power (in MWhs)6 2024
Coal (in Tons or Metric Tonnes)7 2027
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 ValueDecember 31, 2020December 31, 2019
AssetsDesignatedNot DesignatedTotalDesignatedNot DesignatedTotal
Interest rate derivatives$13 $— $13 $31 $— $31 
Cross-currency derivatives5 — 5 — — — 
Foreign currency derivatives40 121 161 31 79 110 
Commodity derivatives2 8 10 — 30 30 
Total assets$60 $129 $189 $62 $109 $171 
Liabilities
Interest rate derivatives$506 $104 $610 $323 $5 $328 
Cross-currency derivatives4 — 4 21 — 21 
Foreign currency derivatives8 35 43 22 22 44 
Commodity derivatives— 22 22 2 29 31 
Total liabilities$518 $161 $679 $368 $56 $424 

December 31, 2020December 31, 2019
Fair ValueAssetsLiabilitiesAssetsLiabilities
Current$51 $236 $72 $126 
Noncurrent138 443 99 298 
Total$189 $679 $171 $424 

Credit Risk-Related Contingent Features (1)
December 31, 2020December 31, 2019
Present value of liabilities subject to collateralization$6 $— 
Cash collateral held by third parties or in escrow6 — 
_____________________________
(1)     Based on the credit rating of certain subsidiaries
As of December 31, 2019, all derivative instruments subject to credit risk-related contingent features were in an asset position.
Gain Loss In Accumulated Other Comprehensive Income And Earnings On Effective Portion Of Qualifying Cash Flow Hedges Table The following table presents the pre-tax gains (losses) recognized in AOCL and earnings related to all derivative instruments for the periods indicated (in millions):
Years Ended December 31,
202020192018
Cash flow hedges
Gains (losses) recognized in AOCL
Interest rate derivatives$(511)$(290)$(16)
Cross-currency derivatives3 (26)(26)
Foreign currency derivatives25 (23)(52)
Commodity derivatives5 — — 
Total$(478)$(339)$(94)
Gains (losses) reclassified from AOCL to earnings
Interest rate derivatives$(75)$(28)$(52)
Cross-currency derivatives(5)(12)(43)
Foreign currency derivatives(9)(13)(16)
Commodity derivatives(2)(1)(6)
Total$(91)$(54)$(117)
Loss reclassified from AOCL to earnings due to discontinuance of hedge accounting (1)
$— $(2)$— 
Gain (losses) recognized in earnings related to
Ineffective portion of cash flow hedges$— $— $(7)
Not designated as hedging instruments:
Interest rate derivatives(1)— — 
Foreign currency derivatives68 (46)148 
Commodity derivatives and other(68)(6)25 
Total$(1)$(52)$173