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Debt (Tables)
 12 Months Ended
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