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Derivative Instruments and Hedging Activities (Tables)
 12 Months Ended
Dec. 31, 2022
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, 2022, regardless of whether they are in qualifying 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, SOFR and EURIBOR)$6,040 2059
Cross-currency swaps (Brazilian Reais)293 2034
Foreign currency:
Euro198 2025
Chilean peso167 2025
Colombian peso57 2024
Brazilian real32 2024
Argentine peso5 2026
Commodity Derivatives By Type Table
Commodity DerivativesMaximum NotionalLatest Maturity
Natural Gas (in MMBtu)71 2030
Power (in MWhs)15 2040
Coal (in Tons or Metric Tonnes)6 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, 2022December 31, 2021
AssetsDesignatedNot DesignatedTotalDesignatedNot DesignatedTotal
Interest rate derivatives$313 $1 $314 $53 $— $53 
Cross-currency derivatives— — — 5 — 5 
Foreign currency derivatives27 59 86 28 109 137 
Commodity derivatives— 245 245 6 32 38 
Total assets$340 $305 $645 $92 $141 $233 
Liabilities
Interest rate derivatives$6 $— $6 $288 $6 $294 
Cross-currency derivatives42 — 42 11 — 11 
Foreign currency derivatives9 11 20 23 12 35 
Commodity derivatives59 347 406 11 33 44 
Total liabilities$116 $358 $474 $333 $51 $384 

December 31, 2022December 31, 2021
Fair ValueAssetsLiabilitiesAssetsLiabilities
Current$271 $168 $85 $83 
Noncurrent374 306 148 301 
Total$645 $474 $233 $384 

Credit Risk-Related Contingent Features December 31, 2022December 31, 2021
Present value of liabilities subject to collateralization$104 $— 
Cash collateral held by third parties or in escrow42 — 
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,
202220212020
Cash flow hedges
Gains (losses) recognized in AOCL
Interest rate derivatives$869 $51 $(511)
Cross-currency derivatives— (11)3 
Foreign currency derivatives17 (34)25 
Commodity derivatives16 (1)5 
Total$902 $5 $(478)
Gains (losses) reclassified from AOCL to earnings
Interest rate derivatives$(72)$(419)$(75)
Cross-currency derivatives— (15)(5)
Foreign currency derivatives2 (62)(9)
Commodity derivatives2 4 (2)
Total$(68)$(492)$(91)
Gains (Losses) on fair value hedging relationship
Cross Currency contracts
Derivatives designated as hedging instruments$(35)$(6)$— 
Hedged items26 4 — 
Total$(9)$(2)$— 
Loss reclassified from AOCL to earnings due to impairment of assets$(16)$— $(14)
Gain reclassified from AOCL to earnings due to discontinuance of hedge accounting$26 $— $— 
Gain (losses) recognized in earnings related to
Not designated as hedging instruments:
Interest rate derivatives$4 $105 $(1)
Foreign currency derivatives21 29 68 
Commodity derivatives and other(43)(28)(68)
Total$(18)$106 $(1)