Derivative Instruments and Hedging Activities (Tables)
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12 Months Ended |
Dec. 31, 2011
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Derivative Instruments And Hedging Activities Tables [Abstract] |
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Interest Rate Derivatives By Type Table |
| | | December 31, 2011 | | | | Current | | Maximum(1) | | | | | | | | | | Derivative | | | | Derivative | | Weighted | | % of Debt | | | | | | Notional | | | | Notional | | Average | | Currently | | | | Derivative | | Translated | | Derivative | | Translated | | Remaining | | Hedged | Interest Rate Derivatives | | Notional | | to USD | | Notional | | to USD | | Term(1) | | by Index(2) | | | | | | | | | | | | | | | | | | | | (in millions) | | (in years) | | | LIBOR (U.S. Dollar) | | 3,628 | | $ | 3,628 | | 4,697 | | $ | 4,697 | | 11 | | 67% | EURIBOR (Euro) | | 673 | | | 872 | | 673 | | | 872 | | 11 | | 63% | LIBOR (British Pound Sterling) | | 58 | | | 90 | | 82 | | | 128 | | 13 | | 87% | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
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Cross Currency Derivatives By Type Table |
| | | December 31, 2011 | | | | | | | | Weighted | | % of Debt | | | | | | Notional | | Average | | Currently | | | | | | Translated | | Remaining | | Hedged | Cross Currency Swaps | | Notional | | to USD | | Term(1) | | by Index(2) | | | | | | | | | | | | | | | (in millions) | | (in years) | | | Chilean Unidad de Fomento (CLF) | | 6 | | $ | 240 | | 14 | | 85% |
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Foreign Currency Options By Type Table |
| | | December 31, 2011 | | | | | | | | | | | | Weighted | | | | | | Notional | | Probability | | Average | | | | | | Translated | | Adjusted | | Remaining | Foreign Currency Options | | Notional(1) | | to USD(1) | | Notional(2) | | Term(3) | | | | | | | | | | | | | | | | (in millions) | | (in years) | Euro (EUR) | | 38 | | $ | 54 | | $ | 52 | | <1 | Brazilian Real (BRL) | | 86 | | | 52 | | | 49 | | <1 | British Pound (GBP) | | 27 | | | 44 | | | 35 | | <1 | Philippine Peso (PHP) | | 414 | | | 10 | | | 7 | | <1 | | | | | | | | | | | | |
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Foreign Currency Forwards By Type Table |
| | | December 31, 2011 | | | | | | | | | | | Weighted | | | | | | | Notional | | | Average | | | | | | | Translated | | | Remaining | | Foreign Currency Forwards | | Notional | | to USD | | | Term(1) | | | | | | | | | | | | | | | | (in millions) | | | (in years) | | Euro (EUR) | | 113 | | $ | 154 | | | 2 | | Chilean Peso (CLP) | | 72,169 | | | 145 | | | <1 | | British Pound (GBP) | | 11 | | | 16 | | | <1 | | Argentine Peso (ARS) | | 61 | | | 13 | | | <1 | | Colombian Peso (COP) | | 23,993 | | | 13 | | | <1 | | Hungarian Forint (HUF) | | 1,236 | | | 5 | | | <1 | |
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Embedded Foreign Currency Derivatives By Type Table |
| | | December 31, 2011 | | | | | | | | | | Weighted | | | | | | | Notional | | | Average | | | | | | | Translated | | | Remaining | | Embedded Foreign Currency Derivatives | | Notional | | to USD | | | Term(1) | | | | | | | | | | | | | | | | (in millions) | | | (in years) | | Philippine Peso (PHP) | | 13,692 | | $ | 312 | | | 2 | | Argentine Peso (ARS) | | 938 | | | 218 | | | 11 | | Kazakhstani Tenge (KZT) | | 29,635 | | | 200 | | | 8 | | Euro (EUR) | | 3 | | | 3 | | | 9 | |
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Commodity Non Hedge Derivatives By Type Table |
| | | December 31, 2011 | | | | | | | | Weighted Average | | | | | | Commodity Derivatives | | Notional | | Remaining Term(1) | | | | | | | | (in millions) | | (in years) | | | | | | Natural gas (MMBtu) | | 31 | | 12 | | | | | | Petcoke (Metric tons) | | 13 | | 12 | | | | | | Aluminum (MWh) | | 16(2) | | 8 | | | | | | Heating Oil (Gallons) | | 3 | | 1 | | | | | | Coal (Metric tons) | | 4 | | 3 | | | | |
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Fair Value Hierarchy Derivative Assets Liabilities By Balance Sheet Classification Text Block |
| | | | | December 31, 2011 | | December 31, 2010 | | | | | | Level 1 | | Level 2 | | Level 3 | | Total | | Level 1 | | Level 2 | | Level 3 | | Total | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | (in millions) | | (in millions) | Assets | | | | | | | | | | | | | | | | | | | | | | | | | Current assets: | | | | | | | | | | | | | | | | | | | | | | | | | | Foreign currency derivatives | | $ | - | | $ | 24 | | $ | 4 | | $ | 28 | | $ | - | | $ | 3 | | $ | 3 | | $ | 6 | | Commodity and other derivatives | | | 2 | | | 16 | | | 3 | | | 21 | | | - | | | 2 | | | 3 | | | 5 | | | Total current assets | | | 2 | | | 40 | | | 7 | | | 49 | | | - | | | 5 | | | 6 | | | 11 | Noncurrent assets: | | | | | | | | | | | | | | | | | | | | | | | | | | Interest rate derivatives | | | - | | | - | | | - | | | - | | | - | | | 49 | | | - | | | 49 | | Cross currency derivatives | | | - | | | - | | | 1 | | | 1 | | | - | | | - | | | 12 | | | 12 | | Foreign currency derivatives | | | - | | | 3 | | | 58 | | | 61 | | | - | | | - | | | 27 | | | 27 | | Commodity and other derivatives | | | - | | | 9 | | | - | | | 9 | | | - | | | 4 | | | 16 | | | 20 | | | Total noncurrent assets | | | - | | | 12 | | | 59 | | | 71 | | | - | | | 53 | | | 55 | | | 108 | | | | Total assets | | $ | 2 | | $ | 52 | | $ | 66 | | $ | 120 | | $ | - | | $ | 58 | | $ | 61 | | $ | 119 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Liabilities | | | | | | | | | | | | | | | | | | | | | | | | | Current liabilities: | | | | | | | | | | | | | | | | | | | | | | | | | | Interest rate derivatives | | $ | - | | $ | 97 | | $ | 22 | | $ | 119 | | $ | - | | $ | 118 | | $ | - | | $ | 118 | | Cross currency derivatives | | | - | | | - | | | 5 | | | 5 | | | - | | | - | | | 2 | | | 2 | | Foreign currency derivatives | | | - | | | 5 | | | 1 | | | 6 | | | - | | | 13 | | | - | | | 13 | | Commodity and other derivatives | | | - | | | 17 | | | 6 | | | 23 | | | - | | | - | | | - | | | - | | | Total current liabilities | | | - | | | 119 | | | 34 | | | 153 | | | - | | | 131 | | | 2 | | | 133 | Long-term liabilities: | | | | | | | | | | | | | | | | | | | | | | | | | | Interest rate derivatives | | | - | | | 334 | | | 106 | | | 440 | | | - | | | 200 | | | 1 | | | 201 | | Cross currency derivatives | | | - | | | - | | | 14 | | | 14 | | | - | | | - | | | - | | | - | | Foreign currency derivatives | | | - | | | 10 | | | 10 | | | 20 | | | - | | | 15 | | | 8 | | | 23 | | Commodity and other derivatives | | | - | | | 13 | | | 50 | | | 63 | | | - | | | - | | | 1 | | | 1 | | | Total long-term liabilities | | | - | | | 357 | | | 180 | | | 537 | | | - | | | 215 | | | 10 | | | 225 | | | | Total liabilities | | $ | - | | $ | 476 | | $ | 214 | | $ | 690 | | $ | - | | $ | 346 | | $ | 12 | | $ | 358 |
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Derivative Assets Liabilities At Fair Value Net By Balance Sheet Classification And Type Table |
| | | | | December 31, 2011 | | December 31, 2010 | | | | | | | | Not | | | | | | Not | | | | | | | | Designated | | Designated | | | | | Designated | | Designated | | | | | | | | | as Hedging | | as Hedging | | | | as Hedging | | as Hedging | | | | | | | | Instruments | | Instruments | | Total | | Instruments | | Instruments | | Total | | | | | | | | | | | | | | | | | | | | | | | | | | | | (in millions) | | | | | (in millions) | | | | Assets | | | | | | | | | | | | | | | | | | | Current assets: | | | | | | | | | | | | | | | | | | | | Foreign currency derivatives | | $ | 10 | | $ | 18 | | $ | 28 | | $ | - | | $ | 6 | | $ | 6 | | Commodity and other derivatives | | | 2 | | | 19 | | | 21 | | | - | | | 5 | | | 5 | | | Total current assets | | | 12 | | | 37 | | | 49 | | | - | | | 11 | | | 11 | | | | | | | | | | | | | | | | | | | | | | | Noncurrent assets: | | | | | | | | | | | | | | | | | | | | Interest rate derivatives | | | - | | | - | | | - | | | 49 | | | - | | | 49 | | Cross currency derivatives | | | 1 | | | - | | | 1 | | | 12 | | | - | | | 12 | | Foreign currency derivatives | | | 3 | | | 58 | | | 61 | | | - | | | 27 | | | 27 | | Commodity and other derivatives | | | - | | | 9 | | | 9 | | | - | | | 20 | | | 20 | | | Total noncurrent assets | | | 4 | | | 67 | | | 71 | | | 61 | | | 47 | | | 108 | Total assets | | $ | 16 | | $ | 104 | | $ | 120 | | $ | 61 | | $ | 58 | | $ | 119 | | | | | | | | | | | | | | | | | | | | | | | Liabilities | | | | | | | | | | | | | | | | | | | Current liabilities: | | | | | | | | | | | | | | | | | | | | Interest rate derivatives | | $ | 110 | | $ | 9 | | $ | 119 | | $ | 107 | | $ | 11 | | $ | 118 | | Cross currency derivatives | | | 5 | | | - | | | 5 | | | 2 | | | - | | | 2 | | Foreign currency derivatives | | | 1 | | | 5 | | | 6 | | | 8 | | | 5 | | | 13 | | Commodity and other derivatives | | | - | | | 23 | | | 23 | | | - | | | - | | | - | | | Total current liabilities | | | 116 | | | 37 | | | 153 | | | 117 | | | 16 | | | 133 | | | | | | | | | | | | | | | | | | | | | | | Long-term liabilities: | | | | | | | | | | | | | | | | | | | | Interest rate derivatives | | | 425 | | | 15 | | | 440 | | | 186 | | | 15 | | | 201 | | Cross currency derivatives | | | 14 | | | - | | | 14 | | | - | | | - | | | - | | Foreign currency derivatives | | | - | | | 20 | | | 20 | | | - | | | 23 | | | 23 | | Commodity and other derivatives | | | 3 | | | 60 | | | 63 | | | - | | | 1 | | | 1 | | | Total long-term liabilities | | | 442 | | | 95 | | | 537 | | | 186 | | | 39 | | | 225 | Total liabilities | | $ | 558 | | $ | 132 | | $ | 690 | | $ | 303 | | $ | 55 | | $ | 358 |
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Accumulated Other Comprehensive Income Loss Derivatives Table |
| | | Accumulated Other | | | | Comprehensive | | | | Income (Loss) (1) | | | | (in millions) | | Interest rate derivatives | | $ | (101) | | Cross currency derivatives | | $ | (1) | | Foreign currency derivatives | | $ | 7 | | Commodity and other derivatives | | $ | (1) |
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Gain Loss In Accumulated Other Comprehensive IncomeOn Effective Portion Of Qualifying Cash Flow Hedges Rollforward Table |
| | | Gains (Losses) | | | | | Gains (Losses) Reclassified | | | | Recognized in AOCL | | Consolidated | | from AOCL into Earnings | | | | 2011 | | 2010 | | 2009 | | Statement of Operations | | 2011 | | 2010 | | 2009 | | | | | | | | | | | | | | | | | | | | | | | | | | | (in millions) | | | | | (in millions) | Interest rate derivatives | | $ | (475)(1) | | $ | (243)(1) | | $ | 49 | | Interest expense | | $ | (125)(2) | | $ | (108)(2) | | $ | (72)(2) | | | | | | | | | | | | | Non-regulated cost of sales | | | (3) | | | (2) | | | - | | | | | | | | | | | | | Net equity in earnings of | | | | | | | | | | | | | | | | | | | | | | | affiliates | | | (4) | | | (1) | | | - | Cross currency derivatives | | | (36) | | | 11 | | | 48 | | Interest expense | | | (10) | | | (1) | | | 2 | | | | | | | | | | | | | Foreign currency transaction | | | | | | | | | | | | | | | | | | | | | | | gains (losses) | | | (16) | | | 25 | | | 43 | Foreign currency derivatives | | | 24 | | | (9) | | | 2 | | Foreign currency transaction | | | | | | | | | | | | | | | | | | | | | | | gains (losses) | | | 1 | | | (3) | | | - | Commodity and other | | | | | | | | | | | | | | | | | | | | | | | derivatives | | | - | | | (8) | | | 120 | | Non-regulated revenue | | | -(3) | | | -(3) | | | 3(3) | | | | | | | | | | | | | Non-regulated cost of sales | | | (2) | | | - | | | - | Total | | $ | (487) | | $ | (249) | | $ | 219 | | | | | $ | (159) | | $ | (90) | | $ | (24) |
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Gain Loss In Earnings On Ineffective Portion Of Qualifying Cash Flow Hedges Table |
| | | | | Gains (Losses) | | | Classification in | | Recognized in Earnings | | | Consolidated Statement of Operations | | 2011 | | 2010 | | 2009 | | | | | | | | | | | | | | | | (in millions) | Interest rate derivatives | | Interest expense | | $ | (6) | | $ | (15) | | $ | (8) | | | Net equity in earnings of affiliates | | | (2) | | | - (1) | | | (1) | Cross currency derivatives | | Interest expense | | | (4) | | | 5 | | | (11) | Foreign currency derivatives | | Foreign currency transaction | | | | | | | | | | | | | gains (losses) | | | - (1) | | | - (1) | | | -(1) | Total | | | | | $ | (12) | | $ | (10) | | $ | (20) |
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Gain Loss In Earnings On Non Hedging Instruments Table |
| | Classification | | Gains (Losses) | | | in Consolidated | | Recognized in Earnings | | | Statement of Operations | | 2011 | | 2010 | | 2009 | | | | | | | | | | | | | | | | (in millions) | Interest rate derivatives | | Interest expense | | $ | (4) | | $ | (9) | | $ | (26) | Foreign currency derivatives | | Foreign currency transaction | | | | | | | | | | | | | gains (losses) | | | 57 | | | (36) | | | (38) | | | Net equity in earnings of | | | | | | | | | | | | | affiliates | | | - | | | (2) | | | - | Commodity and other derivatives | | Non-regulated revenue | | | (71) | | | 21 | | | 1 | | | Regulated revenue | | | 1 | | | - | | | - | | | Non-regulated cost of sales | | | (9) | | | 5 | | | (30) | | | Regulated cost of sales | | | (5) | | | - | | | - | Total | | | | | $ | (31) | | $ | (21) | | $ | (93) |
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Regulatory Asset Liability Change In Fair Value Of Derivatives |
| | 2011 | | 2010 | | | | | | | | | | (in millions) | (Increase) decrease in regulatory assets | | $ | (5) | | $ | (3) | Increase (decrease) in regulatory liabilities | | $ | 8 | | $ | 1 |
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