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Debt (Tables)

12 Months Ended

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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