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Debt (Tables) | 12 Months Ended
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Dec. 31, 2015
Debt Disclosure [Abstract] |
Carrying Amount and Terms of Non-Recourse Debt | The next table summarizes the carrying amount (in millions) and terms of non-recourse debt as of the periods indicated:
NON-RECOURSE DEBT | Weighted Average Interest Rate |  | Maturity |  | December 31,
2015 |  | 2014
VARIABLE RATE:(1) |  |  |  |  |  |  |
Bank loans | 4.37 | % |  | 2016 – 2033 |  | $ | 2,352 |  |  | $ | 1,893 |
Notes and bonds | 14.98 | % |  | 2016 – 2022 |  | 1,474 |  |  | 1,912 |
Debt to (or guaranteed by) multilateral, export credit agencies or development banks(2) | 2.39 | % |  | 2021 – 2034 |  | 3,078 |  |  | 2,375 |
Other | 12.65 | % |  | 2016 – 2043 |  | 47 |  |  | 668 |
FIXED RATE: |  |  |  |  |  |  |
Bank loans | 5.11 | % |  | 2016 – 2032 |  | 558 |  |  | 750 |
Notes and bonds | 5.54 | % |  | 2016 – 2073 |  | 7,948 |  |  | 7,654 |
Debt to (or guaranteed by) multilateral, export credit agencies or development banks(2) | 5.39 | % |  | 2023 – 2034 |  | 309 |  |  | 259 |
Other | 8.66 | % |  | 2016 – 2049 |  | 26 |  |  | 89 |
SUBTOTAL |  |  |  |  | 15,792 |  |  | 15,600 |
Less: Current maturities |  |  |  |  | (2,529 | ) |  | (1,982 | )
TOTAL |  |  |  |  | $ | 13,263 |  |  | $ | 13,618 |
(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 $3.2 billion on non-recourse debt outstanding at December 31, 2015. 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 8.24%. 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.
Schedule For Maturity For Non-Recourse Debt | Non-recourse debt (in millions) as of December 31, 2015 is scheduled to reach maturity as presented in the table below:
December 31, | Annual Maturities
2016 | $ | 2,529 |
2017 | 1,022 |
2018 | 1,359 |
2019 | 950 |
2020 | 1,431 |
Thereafter | 8,501 |
Total non-recourse debt | $ | 15,792 |
Debt In Default Table | The following table summarizes the Company's subsidiary non-recourse debt in default (in millions) as of December 31, 2015. Due to the defaults, these amounts are included in the current portion of non-recourse debt:
| Primary Nature of Default |  | December 31, 2015
Subsidiary | Default |  | Net Assets
Maritza (Bulgaria) | Covenant |  | $ | 559 |  |  | $ | 657 |
Sul (Brazil) | Covenant |  | 333 |  |  | 439 |
Kavarna (Bulgaria) | Covenant |  | 140 |  |  | 74 |
Sogrinsk (Kazakhstan) | Covenant |  | $ | 6 |  |  | 8 |
Total |  |  | $ | 1,038 |  |  |
Schedule of Recourse Debt Detail | The table below summarizes the carrying amount (in millions) and terms of recourse debt of the Company as of the periods indicated:
RECOURSE DEBT | Interest Rate |  | Final Maturity |  | December 31, 2015 |  |  | December 31, 2014
Senior Unsecured Note | 7.75% |  | 2015 |  | $ | — |  |  | $ | 151 |
Senior Unsecured Note | 9.75% |  | 2016 |  | — |  |  | 164 |
Senior Unsecured Note | 8.00% |  | 2017 |  | 181 |  |  | 525 |
Senior Unsecured Note | LIBOR + 3% |  | 2019 |  | 775 |  |  | 775 |
Senior Unsecured Note | 8.00% |  | 2020 |  | 469 |  |  | 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 |  |  | 750 |
Senior Unsecured Note | 5.50% |  | 2025 |  | 575 |  |  | — |
Term Convertible Trust Securities | 6.75% |  | 2029 |  | 517 |  |  | 517 |
Unamortized (Discounts)/Premiums |  |  |  |  | (2 | ) |  | 1 |
SUBTOTAL |  |  |  |  | 5,015 |  |  | 5,258 |
Less: Current maturities |  |  |  |  | — |  |  | (151 | )
Total |  |  |  |  | $ | 5,015 |  |  | $ | 5,107 |
|  |  |  |  |  | December 31,
|  | Interest Rate |  | Maturity |  | 2015 |  | 2014
Senior Unsecured Note |  | 7.75% |  | 2015 |  | $ | — |  |  | $ | 151 |
Senior Unsecured Note |  | 9.75% |  | 2016 |  | — |  |  | 164 |
Senior Unsecured Note |  | 8.00% |  | 2017 |  | 181 |  |  | 525 |
Senior Unsecured Note |  | LIBOR + 3.00% |  | 2019 |  | 775 |  |  | 775 |
Senior Unsecured Note |  | 8.00% |  | 2020 |  | 469 |  |  | 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 |  |  | 750 |
Senior Unsecured Note |  | 5.50% |  | 2025 |  | 575 |  |  | — |
Unamortized premium (discounts) |  |  |  |  |  | (2 | ) |  | 1 |
SUBTOTAL |  |  |  |  |  | 4,498 |  |  | 4,741 |
Less: Current maturities |  |  |  |  |  | — |  |  | (151 | )
Total |  |  |  |  |  | $ | 4,498 |  |  | $ | 4,590 |
Schedule of Future Maturities of Recourse Debt | The table below summarizes the principal amounts due, net of unamortized discounts, under our recourse debt for the next five years and thereafter in millions:
December 31, | Net Principal Amounts Due
2016 | $ | — |
2017 | 181 |
2018 | — |
2019 | 774 |
2020 | 469 |
Thereafter | 3,591 |
Total recourse debt | $ | 5,015 |
Recourse debt as of December 31, 2015 is scheduled to reach maturity as presented in the table below in millions:
December 31, | Annual Maturities
2016 | $ | — |
2017 | 181 |
2018 | — |
2019 | 774 |
2020 | 469 |
Thereafter | 3,591 |
Total debt | $ | 5,015 |

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