Financing Receivables

6 Months Ended

Jun. 30, 2015

Financing receivables are defined as receivables that have contractual maturities of greater than one year. The Company primarily has financing receivables pursuant to amended agreements or government resolutions that are due from certain governmental bodies in Argentina. The following table presents financing receivables by country as of the periods indicated:



	June 30, 2015		December 31, 2014
	(in millions)
Argentina	$	256	$	278
Cameroon sale ⁽¹⁾	—		44
United States	20		—
Brazil	15		15
Total long-term financing receivables	$	291	$	337

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⁽¹⁾	Represents non-contingent consideration to be received in 2016 from the sale of the Cameroon businesses in 2014. Balance is classified as short-term as of June 30, 2015. See Note 17—Discontinued Operations and Held-For-Sale Businesses.

Argentina — Collection of the principal and interest on these receivables is subject to various business risks and uncertainties including, but not limited to, the completion and operation of power plants which generate cash for payments of these receivables, regulatory changes that could impact the timing and amount of collections, and economic conditions in Argentina. The Company monitors these risks including the credit ratings of the Argentine government on a quarterly basis to assess the collectability of these receivables. The Company accrues interest on these receivables once the recognition criteria have been met. The Company’s collection estimates are based on assumptions that it believes to be reasonable, but are inherently uncertain. Actual future cash flows could differ from these estimates.