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Debt (Tables) | 12 Months Ended
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Dec. 31, 2014
Debt Disclosure [Abstract] |
Carrying Amount and Terms of Non-Recourse Debt | The following table summarizes the carrying amount and terms of non-recourse debt as of the periods indicated:
NON-RECOURSE DEBT | Weighted Average Interest Rate |  | Maturity |  | December 31, |
2014 |  | 2013 |
|  |  |  |  | (in millions) |
VARIABLE RATE:(1) |  |  |  |  |  |  |  |
Bank loans | 3.42 | % |  | 2015 – 2033 |  | $ | 1,893 |  |  | $ | 2,783 |  |
Notes and bonds | 12.06 | % |  | 2015 – 2040 |  | 1,912 |  |  | 1,845 |  |
Debt to (or guaranteed by) multilateral, export credit agencies or development banks(2) | 2.62 | % |  | 2015 – 2034 |  | 2,375 |  |  | 2,446 |  |
Other | 8.46 | % |  | 2015 – 2043 |  | 668 |  |  | 349 |  |
FIXED RATE: |  |  |  |  |  |  |  |
Bank loans | 5.44 | % |  | 2015 – 2023 |  | 750 |  |  | 477 |  |
Notes and bonds | 5.89 | % |  | 2015 – 2073 |  | 7,654 |  |  | 7,164 |  |
Debt to (or guaranteed by) multilateral, export credit agencies or development banks(2) | 5.34 | % |  | 2015 – 2034 |  | 259 |  |  | 164 |  |
Other | 5.64 | % |  | 2015 – 2061 |  | 89 |  |  | 152 |  |
SUBTOTAL |  |  |  |  | 15,600 |  | (3) | 15,380 |  | (3)
Less: Current maturities |  |  |  |  | (1,982 | ) |  | (2,062 | ) |
TOTAL |  |  |  |  | $ | 13,618 |  |  | $ | 13,318 |  |
(1) | The interest rate on variable rate debt represents the total of a variable component that is based on changes in an interest rate index and of a fixed component. The Company has interest rate swaps and option agreements in an aggregate notional principal amount of approximately $3.0 billion on non-recourse debt outstanding at December 31, 2014. These agreements economically fix the variable component of the interest rates on the portion of the variable-rate debt being hedged so that the total interest rate on that debt has been fixed at rates ranging from approximately 2.87% to 9.80%. These agreements expire at various dates from 2016 through 2033.
(2) | Multilateral loans include loans funded and guaranteed by bilaterals, multilaterals, development banks and other similar institutions.
(3) | There was no non-recourse debt excluded from non-recourse debt and included in current and noncurrent liabilities of held for sale and discontinued businesses in the accompanying Consolidated Balance Sheets as of December 31, 2014. There were $658 million excluded in 2013.
Schedule For Maturity For Non-Recourse Debt | Non-recourse debt as of December 31, 2014 is scheduled to reach maturity as set forth in the table below:
December 31, | Annual Maturities
| (in millions)
2015 | $ | 1,993 |
2016 | 2,099 |
2017 | 837 |
2018 | 1,445 |
2019 | 1,064 |
Thereafter | 8,162 |
Total non-recourse debt | $ | 15,600 |
Debt In Default Table | The following table summarizes the Company’s subsidiary non-recourse debt in default as of December 31, 2014. Due to the defaults, these amounts are included in the current portion of non-recourse debt:
| Primary Nature of Default |  | December 31, 2014
Subsidiary | Default |  | Net Assets
|  |  | (in millions)
Maritza | Covenant |  | $ | 690 |  |  | $ | 581 |
Kavarna | Covenant |  | 168 |  |  | 75 |
Total |  |  | $ | 858 |  |  |
Schedule of Recourse Debt Detail | The table below summarizes the carrying amount and terms of recourse debt of the Company as of the periods indicated:
| Interest Rate |  | Final Maturity |  | December 31,
RECOURSE DEBT | 2014 |  | 2013
|  |  |  |  | (in millions)
Senior Unsecured Note | 7.75% |  | 2014 |  | — |  |  | 110 |
Senior Unsecured Note | 7.75% |  | 2015 |  | 151 |  |  | 356 |
Senior Unsecured Note | 9.75% |  | 2016 |  | 164 |  |  | 369 |
Senior Unsecured Note | 8.00% |  | 2017 |  | 525 |  |  | 1,150 |
Senior Secured Term Loan | LIBOR + 2.75% |  | 2018 |  | — |  |  | 799 |
Senior Unsecured Note | LIBOR + 3% |  | 2019 |  | 775 |  |  | — |
Senior Unsecured Note | 8.00% |  | 2020 |  | 625 |  |  | 625 |
Senior Unsecured Note | 7.38% |  | 2021 |  | 1,000 |  |  | 1,000 |
Senior Unsecured Note | 4.88% |  | 2023 |  | 750 |  |  | 750 |
Senior Unsecured Note | 5.50% |  | 2024 |  | 750 |  |  | — |
Term Convertible Trust Securities | 6.75% |  | 2029 |  | 517 |  |  | 517 |
Unamortized (Discounts)/Premiums |  |  |  |  | 1 |  |  | (7 | )
SUBTOTAL |  |  |  |  | 5,258 |  |  | 5,669 |
Less: Current maturities |  |  |  |  | (151 | ) |  | (118 | )
Total |  |  |  |  | $ | 5,107 |  |  | $ | 5,551 |
|  |  |  |  |  | December 31,
|  | Interest Rate |  | Maturity |  | 2014 |  | 2013
|  |  |  |  |  | (in millions)
Senior Unsecured Note |  | 7.75% |  | 2014 |  | $ | — |  |  | $ | 110 |
Senior Unsecured Note |  | 7.75% |  | 2015 |  | 151 |  |  | 356 |
Senior Unsecured Note |  | 9.75% |  | 2016 |  | 164 |  |  | 369 |
Senior Unsecured Note |  | 8.00% |  | 2017 |  | 525 |  |  | 1,150 |
Senior Secured Term Loan |  | LIBOR + 2.75% |  | 2018 |  | — |  |  | 799 |
Senior Unsecured Note |  | LIBOR + 3.00% |  | 2019 |  | 775 |  |  | — |
Senior Unsecured Note |  | 8.00% |  | 2020 |  | 625 |  |  | 625 |
Senior Unsecured Note |  | 7.38% |  | 2021 |  | 1,000 |  |  | 1,000 |
Senior Unsecured Note |  | 4.88% |  | 2023 |  | 750 |  |  | 750 |
Senior Unsecured Note |  | 5.50% |  | 2024 |  | 750 |  |  | — |
Unamortized premium (discounts) |  |  |  |  |  | 1 |  |  | (7 | )
SUBTOTAL |  |  |  |  |  | 4,741 |  |  | 5,152 |
Less: Current maturities |  |  |  |  |  | (151 | ) |  | (118 | )
Total |  |  |  |  |  | $ | 4,590 |  |  | $ | 5,034 |
Schedule of Future Maturities of Recourse Debt |
| Interest Rate |  | Final Maturity |  | December 31,
RECOURSE DEBT | 2014 |  | 2013
|  |  |  |  | (in millions)
Senior Unsecured Note | 7.75% |  | 2014 |  | — |  |  | 110 |
Senior Unsecured Note | 7.75% |  | 2015 |  | 151 |  |  | 356 |
Senior Unsecured Note | 9.75% |  | 2016 |  | 164 |  |  | 369 |
Senior Unsecured Note | 8.00% |  | 2017 |  | 525 |  |  | 1,150 |
Senior Secured Term Loan | LIBOR + 2.75% |  | 2018 |  | — |  |  | 799 |
Senior Unsecured Note | LIBOR + 3% |  | 2019 |  | 775 |  |  | — |
Senior Unsecured Note | 8.00% |  | 2020 |  | 625 |  |  | 625 |
Senior Unsecured Note | 7.38% |  | 2021 |  | 1,000 |  |  | 1,000 |
Senior Unsecured Note | 4.88% |  | 2023 |  | 750 |  |  | 750 |
Senior Unsecured Note | 5.50% |  | 2024 |  | 750 |  |  | — |
Term Convertible Trust Securities | 6.75% |  | 2029 |  | 517 |  |  | 517 |
Unamortized (Discounts)/Premiums |  |  |  |  | 1 |  |  | (7 | )
SUBTOTAL |  |  |  |  | 5,258 |  |  | 5,669 |
Less: Current maturities |  |  |  |  | (151 | ) |  | (118 | )
Total |  |  |  |  | $ | 5,107 |  |  | $ | 5,551 |
The table below summarizes the principal amounts due, net of unamortized discounts, under our recourse debt for the next five years and thereafter:
December 31, | Net Principal Amounts Due
| (in millions)
2015 | $ | 151 |
2016 | 162 |
2017 | 525 |
2018 | — |
2019 | 773 |
Thereafter | 3,647 |
Total recourse debt | $ | 5,258 |
Recourse debt as of December 31, 2014 is scheduled to reach maturity as set forth in the table below:
December 31, | Annual Maturities
| (in millions)
2015 | $ | 151 |
2016 | 162 |
2017 | 525 |
2018 | — |
2019 | 773 |
Thereafter | 3,647 |
Total debt | $ | 5,258 |

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