Derivative Instruments and Hedging Activities (Tables)

12 Months Ended

Dec. 31, 2023

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, 2023, 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	$	7,738	2059
Cross-currency swaps (Brazilian Reais)	404		2026
Foreign currency:
Chilean peso	216		2026
Euro	110		2026
Mexican peso	75		2024
Brazilian real	32		2026
Colombian peso	25		2025
Argentine peso	1		2026

Commodity Derivatives By Type Table

Commodity Derivatives	Maximum Notional	Latest Maturity
Natural Gas (in MMBtu)	177	2029
Power (in MWhs)	23	2040
Coal (in Metric Tonnes)	4	2027

Derivative Assets Liabilities At Fair Value Net By Balance Sheet Classification And Type Table

The following tables present the fair value of the Company's derivative assets and liabilities as of the periods indicated (in millions):

Fair Value	December 31, 2023						December 31, 2022
Assets	Designated		Not Designated		Total		Designated		Not Designated		Total
Interest rate derivatives	$	184	$	—	$	184	$	313	$	1	$	314
Foreign currency derivatives	23		51		74		27		59		86
Commodity derivatives	—		128		128		—		245		245
Total assets	$	207	$	179	$	386	$	340	$	305	$	645
Liabilities
Interest rate derivatives	$	108	$	—	$	108	$	6	$	—	$	6
Cross-currency derivatives	63		—		63		42		—		42
Foreign currency derivatives	5		14		19		9		11		20
Commodity derivatives	107		149		256		59		347		406
Total liabilities	$	283	$	163	$	446	$	116	$	358	$	474

	December 31, 2023				December 31, 2022
Fair Value	Assets		Liabilities		Assets		Liabilities
Current	$	216	$	152	$	271	$	168
Noncurrent	170		294		374		306
Total	$	386	$	446	$	645	$	474

Credit Risk-Related Contingent Features	December 31, 2023		December 31, 2022
Net position of derivatives subject to collateralization	$	(4)	$	104
Cash collateral held by third parties or in escrow	104		42

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,
	2023		2022		2021
Cash flow hedges
Gains (losses) recognized in AOCL
Interest rate derivatives	$	42	$	869	$	51
Cross-currency derivatives	—		—		(11)
Foreign currency derivatives	2		17		(34)
Commodity derivatives	(48)		16		(1)
Total	$	(4)	$	902	$	5
Gains (losses) reclassified from AOCL to earnings
Interest rate derivatives	$	51	$	(72)	$	(419)
Cross-currency derivatives	—		—		(15)
Foreign currency derivatives	(4)		2		(62)
Commodity derivatives	17		2		4
Total	$	64	$	(68)	$	(492)
Gains (losses) on fair value hedging relationships
Cross-currency derivatives
Derivatives designated as hedging instruments	$	(72)	$	(35)	$	(6)
Hedged items	58		26		4
Total	$	(14)	$	(9)	$	(2)
Loss reclassified from AOCL to earnings due to impairment of assets	$	—	$	(16)	$	—
Gains reclassified from AOCL to earnings due to change in forecast	$	14	$	26	$	—
Gain (losses) recognized in earnings related to
Not designated as hedging instruments:
Interest rate derivatives	$	(7)	$	4	$	105
Foreign currency derivatives	19		21		29
Commodity derivatives and other	261		(43)		(28)
Total	$	273	$	(18)	$	106