Derivative Instruments and Hedging Activities (Tables)

12 Months Ended

Dec. 31, 2021

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, 2021, 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 Derivatives	Maximum Notional Translated to USD		Latest Maturity
Interest rate (LIBOR and EURIBOR)	$	5,014	2059
Cross-currency swaps (Brazilian Reais)	254		2026
Foreign currency:
Argentine peso	12		2026
Chilean peso	366		2024
Colombian peso	121		2023
Euro	87		2023
Brazilian real	5		2022

Commodity Derivatives By Type Table

Commodity Derivatives	Maximum Notional	Latest Maturity
Natural Gas (in MMBtu)	93	2029
Power (in MWhs)	18	2043
Coal (in Tons or Metric Tonnes)	8	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 Value	December 31, 2021						December 31, 2020
Assets	Designated		Not Designated		Total		Designated		Not Designated		Total
Interest rate derivatives	$	53	$	—	$	53	$	13	$	—	$	13
Cross-currency derivatives	5		—		5		5		—		5
Foreign currency derivatives	28		109		137		40		121		161
Commodity derivatives	6		32		38		2		8		10
Total assets	$	92	$	141	$	233	$	60	$	129	$	189
Liabilities
Interest rate derivatives	$	288	$	6	$	294	$	506	$	104	$	610
Cross-currency derivatives	11		—		11		4		—		4
Foreign currency derivatives	23		12		35		8		35		43
Commodity derivatives	11		33		44		—		22		22
Total liabilities	$	333	$	51	$	384	$	518	$	161	$	679

	December 31, 2021				December 31, 2020
Fair Value	Assets		Liabilities		Assets		Liabilities
Current	$	85	$	83	$	51	$	236
Noncurrent	148		301		138		443
Total	$	233	$	384	$	189	$	679

Credit Risk-Related Contingent Features (1)	December 31, 2021		December 31, 2020
Present value of liabilities subject to collateralization	$	—	$	6
Cash collateral held by third parties or in escrow	—		6

_____________________________

(1)     Based on the credit rating of certain subsidiaries

As of December 31, 2021, 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,
	2021		2020		2019
Cash flow hedges
Gains (losses) recognized in AOCL
Interest rate derivatives	$	51	$	(511)	$	(290)
Cross-currency derivatives	(11)		3		(26)
Foreign currency derivatives	(34)		25		(23)
Commodity derivatives	(1)		5		—
Total	$	5	$	(478)	$	(339)
Gains (losses) reclassified from AOCL to earnings
Interest rate derivatives	$	(419)	$	(75)	$	(28)
Cross-currency derivatives	(15)		(5)		(12)
Foreign currency derivatives	(62)		(9)		(13)
Commodity derivatives	4		(2)		(1)
Total	$	(492)	$	(91)	$	(54)
Loss reclassified from AOCL to earnings due to discontinuance of hedge accounting (1)	$	—	$	—	$	(2)
Gain (losses) recognized in earnings related to
Not designated as hedging instruments:
Interest rate derivatives	$	105	$	(1)	$	—
Foreign currency derivatives	29		68		(46)
Commodity derivatives and other	(28)		(68)		(6)
Total	$	106	$	(1)	$	(52)