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Fair Value (Tables) | 3 Months Ended
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Mar. 31, 2016
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] |
Marketable Securities [Table Text Block] | The table below presents the gross proceeds from sale of AFS securities for the periods indicated (in millions):
| Three Months Ended March 31,
| 2016 |  | 2015
Gross proceeds from sale of AFS securities | $ | 1,619 |  |  | $ | 1,086 |
Fair value hierarchy for recurring measurements table | The following table presents by level within the fair value hierarchy, the Company’s financial assets and liabilities that were measured at fair value on a recurring basis as of the periods indicated (in millions). For the Company’s investments in marketable debt and equity securities, the security classes presented are determined based on the nature and risk of a security and are consistent with how the Company manages, monitors and measures its marketable securities:
| March 31, 2016 |  | December 31, 2015
| Level 1 |  | Level 2 |  | Level 3 |  | Total |  | Level 1 |  | Level 2 |  | Level 3 |  | Total
Assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
AVAILABLE FOR SALE: (1) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Debt securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Unsecured debentures | $ | — |  |  | $ | 568 |  |  | $ | — |  |  | $ | 568 |  |  | $ | — |  |  | $ | 327 |  |  | $ | — |  |  | $ | 327 |
Certificates of deposit | — |  |  | 37 |  |  | — |  |  | 37 |  |  | — |  |  | 135 |  |  | — |  |  | 135 |
Government debt securities | — |  |  | 11 |  |  | — |  |  | 11 |  |  | — |  |  | 28 |  |  | — |  |  | 28 |
Subtotal | — |  |  | 616 |  |  | — |  |  | 616 |  |  | — |  |  | 490 |  |  | — |  |  | 490 |
Equity securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Mutual funds | — |  |  | 15 |  |  | — |  |  | 15 |  |  | — |  |  | 15 |  |  | — |  |  | 15 |
Subtotal | — |  |  | 15 |  |  | — |  |  | 15 |  |  | — |  |  | 15 |  |  | — |  |  | 15 |
Total available for sale | — |  |  | 631 |  |  | — |  |  | 631 |  |  | — |  |  | 505 |  |  | — |  |  | 505 |
TRADING: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Equity securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Mutual funds | 14 |  |  | — |  |  | — |  |  | 14 |  |  | 15 |  |  | — |  |  | — |  |  | 15 |
Total trading | 14 |  |  | — |  |  | — |  |  | 14 |  |  | 15 |  |  | — |  |  | — |  |  | 15 |
DERIVATIVES: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Foreign currency derivatives | — |  |  | 37 |  |  | 304 |  |  | 341 |  |  | — |  |  | 35 |  |  | 292 |  |  | 327 |
Commodity derivatives | — |  |  | 67 |  |  | 4 |  |  | 71 |  |  | — |  |  | 41 |  |  | 7 |  |  | 48 |
Total derivatives | — |  |  | 104 |  |  | 308 |  |  | 412 |  |  | — |  |  | 76 |  |  | 299 |  |  | 375 |
TOTAL ASSETS | $ | 14 |  |  | $ | 735 |  |  | $ | 308 |  |  | $ | 1,057 |  |  | $ | 15 |  |  | $ | 581 |  |  | $ | 299 |  |  | $ | 895 |
Liabilities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
DERIVATIVES: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest rate derivatives | $ | — |  |  | $ | 48 |  |  | $ | 416 |  |  | $ | 464 |  |  | $ | — |  |  | $ | 54 |  |  | $ | 304 |  |  | $ | 358 |
Cross-currency derivatives | — |  |  | 33 |  |  | — |  |  | 33 |  |  | — |  |  | 43 |  |  | — |  |  | 43 |
Foreign currency derivatives | — |  |  | 46 |  |  | 14 |  |  | 60 |  |  | — |  |  | 41 |  |  | 15 |  |  | 56 |
Commodity derivatives | — |  |  | 46 |  |  | 4 |  |  | 50 |  |  | — |  |  | 29 |  |  | 4 |  |  | 33 |
Total derivatives | — |  |  | 173 |  |  | 434 |  |  | 607 |  |  | — |  |  | 167 |  |  | 323 |  |  | 490 |
TOTAL LIABILITIES | $ | — |  |  | $ | 173 |  |  | $ | 434 |  |  | $ | 607 |  |  | $ | — |  |  | $ | 167 |  |  | $ | 323 |  |  | $ | 490 |
_____________________________
(1) | Amortized cost approximated fair value at March 31, 2016 and December 31, 2015.
Fair Value, Net Derivative Assets (Liabilities) measured on a recurring basis, Unobservable Input Reconciliation Table | The following tables present a reconciliation of net derivative assets and liabilities measured at fair value on a recurring basis using significant unobservable inputs (Level 3) for the three months ended March 31, 2016 and 2015 (presented in millions and net by type of derivative). Transfers between Level 3 and Level 2 are determined as of the end of the reporting period and principally result from changes in the significance of unobservable inputs used to calculate the credit valuation adjustment.
Three Months Ended March 31, 2016 | Interest Rate |  | Foreign Currency |  | Commodity |  | Total
Balance at the beginning of the period | $ | (304 | ) |  | $ | 277 |  |  | $ | 3 |  |  | $ | (24 | )
Total gains (losses) (realized and unrealized): |  |  |  |  |  |  |
Included in earnings | 3 |  |  | 47 |  |  | — |  |  | 50 |
Included in other comprehensive income — derivative activity | (99 | ) |  | 3 |  |  | — |  |  | (96 | )
Included in other comprehensive income — foreign currency translation activity | (3 | ) |  | (33 | ) |  | — |  |  | (36 | )
Settlements | 18 |  |  | (1 | ) |  | (3 | ) |  | 14 |
Transfers of assets (liabilities) into Level 3 | (31 | ) |  | — |  |  | — |  |  | (31 | )
Transfers of (assets) liabilities out of Level 3 | — |  |  | (3 | ) |  | — |  |  | (3 | )
Balance at the end of the period | $ | (416 | ) |  | $ | 290 |  |  | $ | — |  |  | $ | (126 | )
Total gains (losses) for the period included in earnings attributable to the change in unrealized gains (losses) relating to assets and liabilities held at the end of the period | $ | 4 |  |  | $ | 45 |  |  | $ | — |  |  | $ | 49 |
Three Months Ended March 31, 2015 | Interest Rate |  | Foreign Currency |  | Commodity |  | Cross Currency |  | Total
Balance at the beginning of the period | $ | (210 | ) |  | $ | 209 |  |  | $ | 6 |  |  | $ | — |  |  | $ | 5 |
Total gains (losses) (realized and unrealized): |  |  |  |  |  |  |  |  |
Included in earnings | — |  |  | 22 |  |  | 3 |  |  | — |  |  | 25 |
Included in other comprehensive income — derivative activity | (35 | ) |  | — |  |  | — |  |  | — |  |  | (35 | )
Included in other comprehensive income — foreign currency translation activity | 11 |  |  | (6 | ) |  | — |  |  | — |  |  | 5 |
Settlements | 6 |  |  | (2 | ) |  | (5 | ) |  | — |  |  | (1 | )
Transfers of assets (liabilities) into Level 3 | (74 | ) |  | — |  |  | — |  |  | (33 | ) |  | (107 | )
Balance at the end of the period | $ | (302 | ) |  | $ | 223 |  |  | $ | 4 |  |  | $ | (33 | ) |  | $ | (108 | )
Total gains (losses) for the period included in earnings attributable to the change in unrealized gains (losses) relating to assets and liabilities held at the end of the period | $ | — |  |  | $ | 21 |  |  | $ | 3 |  |  | $ | — |  |  | $ | 24 |
Derivative Assets, Significant unobservable inputs | The following table summarizes the significant unobservable inputs used in the Level 3 measurement on a nonrecurring basis during the three months ended March 31, 2016 ($ in millions):
| Fair Value |  | Valuation Technique |  | Unobservable Input |  | Range (Weighted Average)
Long-lived assets held and used: |  |  |  |  |  |  |
Buffalo Gap II | $ | 92 |  |  | Discounted cash flow |  | Annual revenue growth |  | -17% to 21% (20%) |
|  |  |  |  | Annual pretax operating margin |  | -166% to 48% (18%) |
|  |  |  |  | Weighted-average cost of capital |  | 9 | %
The table below summarizes the significant unobservable inputs used for Level 3 derivative assets (liabilities) as of March 31, 2016 ($ in millions):
Type of Derivative |  | Fair Value |  | Unobservable Input |  | Amount or Range (Weighted Avg)
Interest rate |  | $ | (416 | ) |  | Subsidiaries’ credit spreads |  | 2.88% — 9.7% (5.65%)
Foreign currency: |  |  |  |  |  |
Argentine Peso |  | 304 |  |  | Argentine Peso to USD currency exchange rate after one year |  | 18.91 — 37.07 (27.78)
Other |  | (14 | ) |  |  |  |
Total |  | $ | (126 | ) |  |  |  |
Fair value hierarchy for nonrecurring measurements table | The following table summarizes major categories of assets and liabilities measured at fair value on a nonrecurring basis and their level within the fair value hierarchy (in millions):
Three Months Ended March 31, 2016 | Measurement Date |  | Carrying Amount (1) |  | Fair Value |  | Pretax Loss
Assets |  | Level 1 |  | Level 2 |  | Level 3 |
Long-lived assets held and used: (2) |  |  |  |  |  |  |  |  |  |  |
Buffalo Gap II | 03/31/2016 |  | $ | 251 |  |  | $ | — |  |  | $ | — |  |  | $ | 92 |  |  | $ | 159 |
Three Months Ended March 31, 2015 | Measurement Date |  | Carrying Amount (1) |  | Fair Value |  | Pretax Loss
Assets |  | Level 1 |  | Level 2 |  | Level 3 |
Long-lived assets held and used: |  |  |  |  |  |  |  |  |  |  |
Other | Various |  | $ | 29 |  |  | $ | — |  |  | $ | 21 |  |  | $ | — |  |  | $ | 8 |
Equity method investments: |  |  |  |  |  |  |  |  |  |  |
Solar Spain | 02/09/2015 |  | 29 |  |  | — |  |  | — |  |  | 29 |  |  | — |
_____________________________
(1) | Represents the carrying values at the dates of measurement, before fair value adjustment.
(2) | See Note 13—Asset Impairment Expense for further information.
Financial instruments not measured at fair value in the condensed consolidated balance sheets | The next table presents (in millions) the carrying amount, fair value and fair value hierarchy of the Company’s financial assets and liabilities that are not measured at fair value in the Condensed Consolidated Balance Sheets as of March 31, 2016 and December 31, 2015, but for which fair value is disclosed:
|  | March 31, 2016 |  | December 31, 2015
|  | Carrying Amount |  | Fair Value |  | Carrying Amount |  | Fair Value
|  | Total |  | Level 1 |  | Level 2 |  | Level 3 |  | Total |  | Level 1 |  | Level 2 |  | Level 3
Assets: | Accounts receivable — noncurrent(1) | $ | 258 |  |  | $ | 337 |  |  | $ | — |  |  | $ | — |  |  | $ | 337 |  |  | $ | 270 |  |  | $ | 342 |  |  | $ | — |  |  | $ | 20 |  |  | $ | 322 |
Liabilities: | Non-recourse debt | 15,633 |  |  | 16,064 |  |  | — |  |  | 13,654 |  |  | 2,410 |  |  | 15,461 |  |  | 15,939 |  |  | — |  |  | 13,672 |  |  | 2,267 |
| Recourse debt | 4,924 |  |  | 4,998 |  |  | — |  |  | 4,998 |  |  | — |  |  | 4,966 |  |  | 4,696 |  |  | — |  |  | 4,696 |  |  | — |
_____________________________
(1) | These amounts principally relate to amounts due from CAMMESA, and are included in Noncurrent assets—Other in the accompanying Condensed Consolidated Balance Sheets. The fair value and carrying amount of these receivables exclude VAT of $24 million and $27 million as of March 31, 2016 and December 31, 2015, respectively.

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