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Derivatives and Other Financial Instruments (Tables) | 9 Months Ended
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Sep. 30, 2014
Derivative Instruments and Hedging Activities Disclosure [Abstract] |
Schedule of Fair Values and Corresponding Level of Fair Value Hierarchy of Outstanding Derivative Contracts Recorded as Assets | The fair values and corresponding classifications under the appropriate level of the fair value hierarchy of outstanding derivative contracts recorded as assets in the accompanying Consolidated Balance Sheet were as follows:
Asset Derivatives |  | Level |  | September 30, 2014 |  |  | December 31, 2013 |
Derivatives designated as hedging instruments: |  |  |  |  |  |  |  |  |  |
Prepaid expenses and other current assets: |  |  |  |  |  |  |  |  |  |
Aluminum contracts |  | 1 |  | $ | 8 |  |  | $ | 4 |
Aluminum contracts |  | 3 |  |  | 5 |  |  |  | 9 |
Foreign exchange contracts |  | 1 |  |  | — |  |  |  | 2 |
Interest rate contracts |  | 2 |  |  | 6 |  |  |  | 9 |
Other noncurrent assets: |  |  |  |  |  |  |  |  |  |
Aluminum contracts |  | 3 |  |  | 8 |  |  |  | 16 |
Energy contracts |  | 3 |  |  | — |  |  |  | 6 |
Interest rate contracts |  | 2 |  |  | 21 |  |  |  | 23 |
Total derivatives designated as hedging instruments |  |  |  | $ | 48 |  |  | $ | 69 |
Derivatives not designated as hedging instruments*: |  |  |  |  |  |  |  |  |  |
Prepaid expenses and other current assets: |  |  |  |  |  |  |  |  |  |
Aluminum contracts |  | 3 |  | $ | 104 |  |  | $ | 149 |
Other noncurrent assets: |  |  |  |  |  |  |  |  |  |
Aluminum contracts |  | 3 |  |  | 100 |  |  |  | 175 |
Total derivatives not designated as hedging instruments |  |  |  | $ | 204 |  |  | $ | 324 |
Less margin held**: |  |  |  |  |  |  |  |  |  |
Prepaid expenses and other current assets: |  |  |  |  |  |  |  |  |  |
Aluminum contracts |  | 1 |  | $ | 3 |  |  | $ | — |
Interest rate contracts |  | 2 |  |  | — |  |  |  | 3 |
Sub-total |  |  |  | $ | 3 |  |  | $ | 3 |
Total Asset Derivatives |  |  |  | $ | 249 |  |  | $ | 390 |
* | See the “Other” section within Note P for additional information on Alcoa’s purpose for entering into derivatives not designated as hedging instruments and its overall risk management strategies.
** | All margin held is in the form of cash and is valued under a Level 1 technique. The levels that correspond to the margin held in the table above reference the level of the corresponding asset for which it is held. Alcoa elected to net the margin held against the fair value amounts recognized for derivative instruments executed with the same counterparties under master netting arrangements.
Schedule of Fair Values and Corresponding Level of Fair Value Hierarchy of Outstanding Derivative Contracts Recorded as Liabilities | The fair values and corresponding classifications under the appropriate level of the fair value hierarchy of outstanding derivative contracts recorded as liabilities in the accompanying Consolidated Balance Sheet were as follows:
Liability Derivatives |  | Level |  | September 30, 2014 |  |  | December 31, 2013 |
Derivatives designated as hedging instruments: |  |  |  |  |  |  |  |  |  |
Other current liabilities: |  |  |  |  |  |  |  |  |  |
Aluminum contracts |  | 1 |  | $ | 9 |  |  | $ | 45 |
Aluminum contracts |  | 3 |  |  | 29 |  |  |  | 23 |
Energy contracts |  | 1 |  |  | 1 |  |  |  | — |
Other noncurrent liabilities and deferred credits: |  |  |  |  |  |  |  |  |  |
Aluminum contracts |  | 1 |  |  | 4 |  |  |  | 14 |
Aluminum contracts |  | 3 |  |  | 378 |  |  |  | 387 |
Energy contracts |  | 3 |  |  | 6 |  |  |  | — |
Total derivatives designated as hedging instruments |  |  |  | $ | 427 |  |  | $ | 469 |
Derivatives not designated as hedging instruments*: |  |  |  |  |  |  |  |  |  |
Other current liabilities: |  |  |  |  |  |  |  |  |  |
Aluminum contracts |  | 1 |  | $ | 1 |  |  | $ | 4 |
Embedded credit derivative |  | 3 |  |  | 3 |  |  |  | 2 |
Foreign exchange contracts |  | 1 |  |  | — |  |  |  | 3 |
Other noncurrent liabilities and deferred credits: |  |  |  |  |  |  |  |  |  |
Embedded credit derivative |  | 3 |  |  | 21 |  |  |  | 19 |
Total derivatives not designated as hedging instruments |  |  |  | $ | 25 |  |  | $ | 28 |
Less margin posted**: |  |  |  |  |  |  |  |  |  |
Other current liabilities: |  |  |  |  |  |  |  |  |  |
Aluminum contracts |  | 1 |  | $ | 5 |  |  | $ | 18 |
Other noncurrent liabilities and deferred credits: |  |  |  |  |  |  |  |  |  |
Aluminum contracts |  | 1 |  |  | 1 |  |  |  | — |
Sub-total |  |  |  | $ | 6 |  |  | $ | 18 |
Total Liability Derivatives |  |  |  | $ | 446 |  |  | $ | 479 |
* | See the “Other” section within Note P for additional information on Alcoa’s purpose for entering into derivatives not designated as hedging instruments and its overall risk management strategies.
** | All margin posted is in the form of cash and is valued under a Level 1 technique. The levels that correspond to the margin posted in the table above reference the level of the corresponding liability for which it is posted. Alcoa elected to net the margin posted against the fair value amounts recognized for derivative instruments executed with the same counterparties under master netting arrangements.
Gross Amounts of Recognized Derivative Assets and Liabilities and Gross Amounts Offset in Accompanying Consolidated Balance Sheet | The gross amounts of recognized derivative assets and liabilities and gross amounts offset in the accompanying Consolidated Balance Sheet were as follows:
|  | Assets |  |  | Liabilities |
|  | September 30, 2014 |  |  | December 31, 2013 |  |  | September 30, 2014 |  |  | December 31, 2013 |
Gross amounts recognized: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Aluminum contracts |  | $ | 47 |  |  | $ | 40 |  |  | $ | 49 |  |  | $ | 81 |
Interest rate contracts |  |  | 27 |  |  |  | 32 |  |  |  | — |  |  |  | 3 |
|  | $ | 74 |  |  | $ | 72 |  |  | $ | 49 |  |  | $ | 84 |
Gross amounts offset: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Aluminum contracts* |  | $ | (42 | ) |  | $ | (36 | ) |  | $ | (42 | ) |  | $ | (36 | )
Interest rate contracts** |  |  | — |  |  |  | (3 | ) |  |  | — |  |  |  | (3 | )
|  | $ | (42 | ) |  | $ | (39 | ) |  | $ | (42 | ) |  | $ | (39 | )
Net amounts presented in the Consolidated Balance Sheet: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Aluminum contracts |  | $ | 5 |  |  | $ | 4 |  |  | $ | 7 |  |  | $ | 45 |
Interest rate contracts |  |  | 27 |  |  |  | 29 |  |  |  | — |  |  |  | — |
|  | $ | 32 |  |  | $ | 33 |  |  | $ | 7 |  |  | $ | 45 |
* | The amounts under Assets and Liabilities as of September 30, 2014 and December 31, 2013 include $6 and $18, respectively, of margin posted with counterparties.
** | The amounts under Assets and Liabilities as of December 31, 2013 represent margin held from the counterparty.
Schedule of Derivative Contract Assets and Liabilities Measured and Recognized at Fair Value on Recurring Basis | The following table presents Alcoa’s derivative contract assets and liabilities that are measured and recognized at fair value on a recurring basis classified under the appropriate level of the fair value hierarchy (there were no transfers in or out of Levels 1 and 2 during the periods presented):
|  | September 30, 2014 |  |  | December 31, 2013 |
Assets: |  |  |  |  |  |  |  |
Level 1 |  | $ | 8 |  |  | $ | 6 |
Level 2 |  |  | 27 |  |  |  | 32 |
Level 3 |  |  | 217 |  |  |  | 355 |
Margin held |  |  | (3 | ) |  |  | (3 | )
Total |  | $ | 249 |  |  | $ | 390 |
Liabilities: |  |  |  |  |  |  |  |
Level 1 |  | $ | 15 |  |  | $ | 66 |
Level 2 |  |  | — |  |  |  | — |
Level 3 |  |  | 437 |  |  |  | 431 |
Margin posted |  |  | (6 | ) |  |  | (18 | )
Total |  | $ | 446 |  |  | $ | 479 |
Schedule of Reconciliation of Activity for Derivative Contracts | Financial instruments classified as Level 3 in the fair value hierarchy represent derivative contracts in which management has used at least one significant unobservable input in the valuation model. The following tables present a reconciliation of activity for such derivative contracts:
|  | Assets |  |  | Liabilities |
Third quarter ended September 30, 2014 |  | Aluminum contracts |  |  | Energy contracts |  |  | Aluminum contracts |  |  | Embedded credit derivative |  |  | Energy contracts |
Opening balance – June 30, 2014 |  | $ | 281 |  |  | $ | 24 |  |  | $ | 422 |  |  | $ | 14 |  |  | $ | — |
Total gains or losses (realized and unrealized) included in: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Sales |  |  | — |  |  |  | — |  |  |  | (8 | ) |  |  | — |  |  |  | — |
Cost of goods sold |  |  | (36 | ) |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Other expenses, net |  |  | (12 | ) |  |  | (5 | ) |  |  | — |  |  |  | 10 |  |  |  | — |
Other comprehensive loss |  |  | (11 | ) |  |  | (18 | ) |  |  | (7 | ) |  |  | — |  |  |  | 6 |
Purchases, sales, issuances, and settlements* |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Transfers into and/or out of Level 3* |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Foreign currency translation |  |  | (5 | ) |  |  | (1 | ) |  |  | — |  |  |  | — |  |  |  | — |
Closing balance – September 30, 2014 |  | $ | 217 |  |  | $ | — |  |  | $ | 407 |  |  | $ | 24 |  |  | $ | 6 |
Change in unrealized gains or losses included in earnings for derivative contracts held at September 30, 2014: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Sales |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Cost of goods sold |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Other expenses, net |  |  | (12 | ) |  |  | (5 | ) |  |  | — |  |  |  | 10 |  |  |  | — |
* | There were no purchases, sales, issuances or settlements of Level 3 financial instruments. Additionally, there were no transfers of financial instruments into or out of Level 3.
|  | Assets |  |  | Liabilities |
Nine months ended September 30, 2014 |  | Aluminum contracts |  |  | Energy contracts |  |  | Aluminum contracts |  |  | Embedded credit derivative |  |  | Energy contracts |
Opening balance – January 1, 2014 |  | $ | 349 |  |  | $ | 6 |  |  | $ | 410 |  |  | $ | 21 |  |  | $ | — |
Total gains or losses (realized and unrealized) included in: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Sales |  |  | — |  |  |  | — |  |  |  | (19 | ) |  |  | — |  |  |  | — |
Cost of goods sold |  |  | (147 | ) |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Other expenses, net |  |  | (13 | ) |  |  | — |  |  |  | — |  |  |  | 3 |  |  |  | — |
Other comprehensive loss |  |  | (11 | ) |  |  | (6 | ) |  |  | 16 |  |  |  | — |  |  |  | 6 |
Purchases, sales, issuances, and settlements* |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Transfers into and/or out of Level 3* |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Foreign currency translation |  |  | 39 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Closing balance – September 30, 2014 |  | $ | 217 |  |  | $ | — |  |  | $ | 407 |  |  | $ | 24 |  |  | $ | 6 |
Change in unrealized gains or losses included in earnings for derivative contracts held at September 30, 2014: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Sales |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Cost of goods sold |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Other expenses, net |  |  | (13 | ) |  |  | — |  |  |  | — |  |  |  | 3 |  |  |  | — |
* | There were no purchases, sales, issuances or settlements of Level 3 financial instruments. Additionally, there were no transfers of financial instruments into or out of Level 3.
Schedule of Quantitative Information for Level 3 Derivative Contracts | The following table presents quantitative information for Level 3 derivative contracts:
|  | Fair value at September 30, 2014 |  |  | Valuation technique |  | Unobservable input |  | Range ($ in full amounts)
Assets: |  |  |  |  |  |  |  |  |  |
Aluminum contract |  | $ | — |  |  | Discounted cash flow |  | Interrelationship of future aluminum and oil prices |  | Aluminum: $1,921 per metric ton in 2014 to $2,137 per metric ton in 2018 Oil: $97 per barrel in 2014 to $96 per barrel in 2018
Aluminum contract |  |  | 204 |  |  | Discounted cash flow |  | Interrelationship of future aluminum prices, foreign currency exchange rates, and the U.S. consumer price index (CPI) |  | Aluminum: $1,936 per metric ton in 2014 to $2,051 per metric ton in 2016 Foreign currency: A$1 = $0.87 in 2014 to $0.89 in 2016 CPI: 1982 base year of 100 and 236 in 2014 to 246 in 2016
Aluminum contract |  |  | 13 |  |  | Discounted cash flow |  | Interrelationship of LME price to overall energy price |  | Aluminum: $1,914 per metric ton in 2014 to $2,177 per metric ton in 2019
Liabilities: |  |  |  |  |  |  |  |  |  |
Aluminum contracts |  |  | 407 |  |  | Discounted cash flow |  | Price of aluminum beyond forward curve |  | $2,460 per metric ton in 2025 to $2,588 per metric ton in 2027
Embedded credit derivative |  |  | 24 |  |  | Discounted cash flow |  | Credit spread between Alcoa and counterparty |  | 1.79% to 2.49% (2.14% median)
Energy contracts |  |  | 6 |  |  | Discounted cash flow |  | Price of electricity beyond forward curve |  | $51 per megawatt hour in 2014 to $100 per megawatt hour in 2036
Schedule of Gain or Loss on Hedged Items and Derivative Contracts | The gain or loss on the hedged items are included in the same line items as the loss or gain on the related derivative contracts as follows (there were no contracts that ceased to qualify as a fair value hedge in any of the periods presented):
Derivatives in Fair Value Hedging Relationships |  | Location of Gain or (Loss) Recognized in Earnings on Derivatives |  | Amount of Gain or (Loss) Recognized in Earnings on Derivatives |
|  | Third quarter ended September 30, |  |  | Nine months ended September 30, |
|  | 2014 |  |  | 2013 |  |  | 2014 |  |  | 2013 |
Aluminum contracts* |  | Sales |  | $ | 20 |  |  | $ | 20 |  |  | $ | 19 |  |  | $ | (110 | )
Interest rate contracts |  | Interest expense |  |  | 3 |  |  |  | 3 |  |  |  | 8 |  |  |  | 8 |
Total |  |  |  | $ | 23 |  |  | $ | 23 |  |  | $ | 27 |  |  | $ | (102 | )
* In the third quarter and nine months ended September 30, 2014, the loss recognized in earnings includes a gain of $1 and a loss of $12, respectively, related to the ineffective portion of the hedging relationships. In the third quarter and nine months ended September 30, 2013, the gain and loss, respectively, recognized in earnings includes a gain of $18 and $22, respectively, related to the ineffective portion of the hedging relationships. |
Hedged Items in Fair Value Hedging Relationships |  | Location of Gain or (Loss) Recognized in Earnings on Hedged Items |  | Amount of Gain or (Loss) Recognized in Earnings on Hedged Items |
|  | Third quarter ended September 30, |  |  | Nine months ended September 30, |
|  | 2014 |  |  | 2013 |  |  | 2014 |  |  | 2013 |
Aluminum contracts |  | Sales |  | $ | (19 | ) |  | $ | (2 | ) |  | $ | (31 | ) |  | $ | 132 |
Interest rate contracts |  | Interest expense |  |  | (3 | ) |  |  | (3 | ) |  |  | (8 | ) |  |  | (8 | )
Total |  |  |  | $ | (22 | ) |  | $ | (5 | ) |  | $ | (39 | ) |  | $ | 124 |
Schedule of Gains and Losses on Derivative Excluded from Assessment of Effectiveness Recognized in Current Earnings | Gains and losses on the derivative representing either hedge ineffectiveness or hedge components excluded from the assessment of effectiveness are recognized in current earnings.
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | Location of Gain or |  |  |  |  |  |  |  |  |  |  |  |
Derivatives in Cash Flow Hedging Relationships |  | Amount of Gain or (Loss) Recognized in OCI on Derivatives (Effective Portion) |  |  | Location of Gain or (Loss) Reclassified from Accumulated OCI into Earnings (Effective Portion) |  | Amount of Gain or (Loss) Reclassified from Accumulated OCI into Earnings (Effective Portion)* |  |  | (Loss) Recognized in Earnings on Derivatives (Ineffective Portion and Amount Excluded from Effectiveness Testing) |  | Amount of Gain or (Loss) Recognized in Earnings on Derivatives (Ineffective Portion and Amount Excluded from Effectiveness Testing)** |
| Third quarter ended September 30, |  |  | Nine months ended September 30, |  |  |  | Third quarter ended September 30, |  |  | Nine months ended September 30, |  |  |  | Third quarter ended September 30, |  |  | Nine months ended September 30, |
| 2014 |  |  | 2013 |  |  | 2014 |  |  | 2013 |  |  |  | 2014 |  |  | 2013 |  |  | 2014 |  |  | 2013 |  |  |  | 2014 |  |  | 2013 |  |  | 2014 |  |  | 2013 |
Aluminum contracts |  | $ | (2 | ) |  | $ | (61 | ) |  | $ | (21 | ) |  | $ | 117 |  |  | Sales |  | $ | (6 | ) |  | $ | (4 | ) |  | $ | (15 | ) |  | $ | (11 | ) |  | Other expenses (income), net |  | $ | — |  |  | $ | — |  |  | $ | (1 | ) |  | $ | (2 | )
Energy contracts |  |  | (21 | ) |  |  | 1 |  |  |  | (6 | ) |  |  | — |  |  | Cost of goods sold |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  | Other expenses (income), net |  |  | (5 | ) |  |  | — |  |  |  | — |  |  |  | — |
Foreign exchange contracts |  |  | (1 | ) |  |  | 3 |  |  |  | 1 |  |  |  | 1 |  |  | Sales |  |  | — |  |  |  | (2 | ) |  |  | 1 |  |  |  | (2 | ) |  | Other expenses (income), net |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Interest rate contracts |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  | Interest expense |  |  | 1 |  |  |  | — |  |  |  | — |  |  |  | (1 | ) |  | Other expenses (income), net |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Interest rate contracts |  |  | — |  |  |  | 1 |  |  |  | 2 |  |  |  | 2 |  |  | Other expenses (income), net |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  | Other expenses (income), net |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Total |  | $ | (24 | ) |  | $ | (56 | ) |  | $ | (24 | ) |  | $ | 120 |  |  |  |  | $ | (5 | ) |  | $ | (6 | ) |  | $ | (14 | ) |  | $ | (14 | ) |  |  |  | $ | (5 | ) |  | $ | — |  |  | $ | (1 | ) |  | $ | (2 | )
* | Assuming market rates remain constant with the rates at September 30, 2014, a loss of $22 is expected to be recognized in earnings over the next 12 months.
** | For the third quarter ended September 30, 2014, the amount of gain or (loss) recognized in earnings represents $(5) related to the ineffective portion of the hedging relationships. There was no ineffectiveness related to the derivatives in cash flow hedging relationships for the nine months ended September 30, 2014. There was also less than $1 and $(1) recognized in earnings related to the amount excluded from the assessment of hedge effectiveness for the third quarter and nine months ended September 30, 2014, respectively. For both the third quarter and nine months ended September 30, 2013, there was no ineffectiveness related to the derivatives in cash flow hedging relationships. There was less than $1 and $(2) recognized in earnings related to the amount excluded from the assessment of hedge effectiveness for the third quarter and nine months ended September 30, 2013, respectively.
Schedule of Outstanding Forward Contracts that were Entered into Hedge Forecasted Transactions | Alcoa had the following outstanding forward contracts that were entered into to hedge forecasted transactions:
|  | September 30, 2014 |  |  | December 31, 2013 |
Aluminum contracts (000 metric tons) |  |  | 707 |  |  |  | 841 |
Energy contracts: |  |  |  |  |  |  |  |
Electricity (megawatt hours) |  |  | 59,409,328 |  |  |  | 59,409,328 |
Natural gas (million British thermal units) |  |  | 20,570,000 |  |  |  | 19,980,000 |
Foreign exchange contracts |  | $ | 632 |  |  | $ | 335 |
Schedule of Fair Value Gains and Losses on Derivatives Contracts Recorded in Earnings | Alcoa has certain derivative contracts that do not qualify for hedge accounting treatment and, therefore, the fair value gains and losses on these contracts are recorded in earnings as follows:
Derivatives Not Designated as Hedging Instruments |  | Location of Gain or (Loss) Recognized in Earnings on Derivatives |  | Amount of Gain or (Loss) Recognized in Earnings on Derivatives |
|  | Third quarter ended September 30, |  |  | Nine months ended September 30, |
|  | 2014 |  |  | 2013 |  |  | 2014 |  |  | 2013 |
Aluminum contracts |  | Sales |  | $ | — |  |  | $ | 1 |  |  | $ | (4 | ) |  | $ | (6 | )
Aluminum contracts |  | Other expenses (income), net |  |  | (11 | ) |  |  | 4 |  |  |  | (12 | ) |  |  | 19 |
Embedded credit derivative |  | Other expenses (income), net |  |  | (10 | ) |  |  | 11 |  |  |  | (3 | ) |  |  | 2 |
Foreign exchange contracts |  | Other expenses (income), net |  |  | 1 |  |  |  | 2 |  |  |  | (2 | ) |  |  | (3 | )
Total |  |  |  | $ | (20 | ) |  | $ | 18 |  |  | $ | (21 | ) |  | $ | 12 |
Schedule of Carrying Values and Fair Values of Other Financial Instruments | The carrying values and fair values of Alcoa’s other financial instruments were as follows:
|  | September 30, 2014 |  |  | December 31, 2013 |
|  | Carrying value |  |  | Fair value |  |  | Carrying value |  |  | Fair value |
Cash and cash equivalents |  | $ | 3,272 |  |  | $ | 3,272 |  |  | $ | 1,437 |  |  | $ | 1,437 |
Restricted cash |  |  | 18 |  |  |  | 18 |  |  |  | 18 |  |  |  | 18 |
Noncurrent receivables |  |  | 18 |  |  |  | 18 |  |  |  | 19 |  |  |  | 19 |
Available-for-sale securities |  |  | 144 |  |  |  | 144 |  |  |  | 119 |  |  |  | 119 |
Short-term borrowings |  |  | 57 |  |  |  | 57 |  |  |  | 57 |  |  |  | 57 |
Commercial paper |  |  | 99 |  |  |  | 99 |  |  |  | — |  |  |  | — |
Long-term debt due within one year |  |  | 35 |  |  |  | 35 |  |  |  | 655 |  |  |  | 1,040 |
Long-term debt, less amount due within one year |  |  | 8,797 |  |  |  | 9,335 |  |  |  | 7,607 |  |  |  | 7,863 |

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- Definition Schedule of quantitative information for level three derivative contracts. + References No definition available. + Details
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- Definition Tabular disclosure of financial instrument classified as a derivative asset (liability) after deduction of derivative liability (asset) using recurring unobservable inputs that reflect the entity's own assumption about the assumptions market participants would use in pricing. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 3 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=36462937&loc=d3e19279-110258 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c) -URI http://asc.fasb.org/extlink&oid=36462937&loc=d3e19207-110258 + Details
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- Definition Tabular disclosure of derivative assets at fair value. + References No definition available. + Details
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- Definition Tabular disclosure of the location and amount of derivative instruments and nonderivative instruments designated as hedging instruments reported before netting adjustments, and the amount of gain (loss) on derivative instruments and nonderivative instruments designated and qualified as hedging instruments. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4A -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=35706170&loc=SL5618551-113959 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4C -URI http://asc.fasb.org/extlink&oid=35706170&loc=SL5624171-113959 + Details
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- Definition Tabular disclosure for other derivative instruments not designated as hedging instruments of (a) the location and amount of gains and losses reported in the statement of financial performance and (b) the location and fair value amounts of the instruments reported in the statement of financial position. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4C -Subparagraph (e) -URI http://asc.fasb.org/extlink&oid=35706170&loc=SL5624171-113959 + Details
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