XML 70 R14.htm IDEA: XBRL DOCUMENT
v3.6.0.2

Derivative Instruments and Hedging Activities | 12 Months Ended
--- | ---
Dec. 31, 2016
Derivative Instruments and Hedging Activities Disclosure [Abstract] |
DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES | DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES Volume of Activity — The following table presents the Company's significant outstanding notional (in millions) by type of derivative as of December 31, 2016, regardless of whether they are in qualifying cash flow hedging relationships, and the dates through which the maturities for each type of derivative range:
Derivatives |  | Current Notional Translated to USD |  | Latest Maturity
Interest Rate (LIBOR and EURIBOR) |  | $ | 3,581 |  |  | 2034
Cross Currency Swaps (Chilean Unidad de Fomento and Chilean Peso) |  | 374 |  |  | 2029
Foreign Currency: |  |  |  |
Argentine Peso |  | 171 |  |  | 2026
Chilean Unidad de Fomento |  | 151 |  |  | 2019
Euro |  | 226 |  |  | 2019
Others, primarily with weighted average remaining maturities of a year or less |  | 749 |  |  | 2018
Accounting and Reporting — Assets and Liabilities — The following tables present the fair value of assets and liabilities related to the Company's derivative instruments as of the periods indicated (in millions):
Fair Value |  | December 31, 2016 |  | December 31, 2015
Assets |  | Designated |  | Not Designated |  | Total |  | Designated |  | Not Designated |  | Total
Interest rate derivatives |  | $ | 18 |  |  | $ | — |  |  | $ | 18 |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Cross currency derivatives |  | 4 |  |  | — |  |  | 4 |  |  | — |  |  | — |  |  | — |
Foreign currency derivatives |  | 9 |  |  | 300 |  |  | 309 |  |  | 8 |  |  | 319 |  |  | 327 |
Commodity derivatives |  | 20 |  |  | 25 |  |  | 45 |  |  | 30 |  |  | 18 |  |  | 48 |
Total assets |  | $ | 51 |  |  | $ | 325 |  |  | $ | 376 |  |  | $ | 38 |  |  | $ | 337 |  |  | $ | 375 |
Liabilities |  |  |  |  |  |  |  |  |  |  |  |
Interest rate derivatives |  | $ | 295 |  |  | $ | 5 |  |  | $ | 300 |  |  | $ | 358 |  |  | $ | — |  |  | $ | 358 |
Cross currency derivatives |  | 18 |  |  | — |  |  | 18 |  |  | 43 |  |  | — |  |  | 43 |
Foreign currency derivatives |  | 19 |  |  | 45 |  |  | 64 |  |  | 35 |  |  | 21 |  |  | 56 |
Commodity derivatives |  | 26 |  |  | 16 |  |  | 42 |  |  | 12 |  |  | 21 |  |  | 33 |
Total liabilities |  | $ | 358 |  |  | $ | 66 |  |  | $ | 424 |  |  | $ | 448 |  |  | $ | 42 |  |  | $ | 490 |
|  | December 31, 2016 |  | December 31, 2015
Fair Value |  | Assets |  | Liabilities |  | Assets |  | Liabilities
Current |  | $ | 99 |  |  | $ | 155 |  |  | $ | 86 |  |  | $ | 144 |
Noncurrent |  | 277 |  |  | 269 |  |  | 289 |  |  | 346 |
Total |  | $ | 376 |  |  | $ | 424 |  |  | $ | 375 |  |  | $ | 490 |
Credit Risk-Related Contingent Features (1) |  |  |  |  |  | December 31, 2016 |  | December 31, 2015
Present value of liabilities subject to collateralization |  |  |  |  |  | $ | 41 |  |  | $ | 58 |
Cash collateral held by third parties or in escrow |  |  |  |  |  | 18 |  |  | 38 |
_____________________________
(1) | Based on the credit rating of certain subsidiaries
Earnings and other Comprehensive (Loss) Income — The following table presents (in millions) the pretax gains (losses) recognized in AOCL and earnings related to all derivative instruments for the periods indicated:
Cash flow hedges |  | Years Ended December 31,
2016 |  | 2015 |  | 2014
Effective portion gain (losses) recognized in AOCL |  |  |  |  |  |
Interest rate derivatives |  | $ | (35 | ) |  | $ | (103 | ) |  | $ | (421 | )
Cross-currency derivatives |  | 21 |  |  | (20 | ) |  | (25 | )
Foreign currency derivatives |  | (4 | ) |  | 10 |  |  | (28 | )
Commodity derivatives |  | 30 |  |  | 40 |  |  | 44 |
Total |  | $ | 12 |  |  | $ | (73 | ) |  | $ | (430 | )
Effective portion gain (losses) reclassified from AOCL into earnings |  |  |  |  |  |
Interest rate derivatives |  | $ | (101 | ) |  | $ | (116 | ) |  | $ | (144 | )
Cross-currency derivatives |  | 8 |  |  | (24 | ) |  | (23 | )
Foreign currency deriviatives |  | (8 | ) |  | 32 |  |  | 14 |
Commodity derivatives |  | 56 |  |  | 31 |  |  | 28 |
Total |  | $ | (45 | ) |  | $ | (77 | ) |  | $ | (125 | )
Gain (losses) recognized in earnings related to |  |  |  |  |  |
Ineffective portion of cash flow hedges |  | $ | (1 | ) |  | $ | (6 | ) |  | $ | (4 | )
Not designated as hedging instruments: |  |  |  |  |  |
Foreign currency derivatives |  | 19 |  |  | 211 |  |  | 144 |
Commodity derivatives and Other |  | (16 | ) |  | (29 | ) |  | 58 |
Total |  | $ | 2 |  |  | $ | 176 |  |  | $ | 198 |
The AOCL expected to decrease pretax income from continuing operations, primarily due to interest rate derivatives, for the twelve months ended December 31, 2017 is $90 million.

X
- References No definition available. + Details
Name: | us-gaap_DerivativeInstrumentsAndHedgingActivitiesDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for derivative instruments and hedging activities including, but not limited to, risk management strategies, non-hedging derivative instruments, assets, liabilities, revenue and expenses, and methodologies and assumptions used in determining the amounts. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 30 -Section 45 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6441202&loc=d3e80720-113993 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4C -URI http://asc.fasb.org/extlink&oid=64837297&loc=SL5624171-113959 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=64837297&loc=d3e41620-113959 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4B -URI http://asc.fasb.org/extlink&oid=64837297&loc=SL5624163-113959 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=64837297&loc=SL5579240-113959 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4D -URI http://asc.fasb.org/extlink&oid=64837297&loc=SL5624177-113959 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 30 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=35736893&loc=d3e80784-113994 Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 5 -URI http://asc.fasb.org/extlink&oid=64837297&loc=d3e41641-113959 Reference 9: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 1A -URI http://asc.fasb.org/extlink&oid=64837297&loc=SL5579245-113959 Reference 10: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4H -URI http://asc.fasb.org/extlink&oid=64837297&loc=SL5624258-113959 Reference 11: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 30 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=35736893&loc=d3e80748-113994 Reference 12: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4K -URI http://asc.fasb.org/extlink&oid=64837297&loc=SL5708775-113959 Reference 13: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4J -URI http://asc.fasb.org/extlink&oid=64837297&loc=SL5708773-113959 Reference 14: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4A -URI http://asc.fasb.org/extlink&oid=64837297&loc=SL5618551-113959 Reference 15: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 1B -URI http://asc.fasb.org/extlink&oid=64837297&loc=SL5580258-113959 Reference 16: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4E -URI http://asc.fasb.org/extlink&oid=64837297&loc=SL5624181-113959 Reference 17: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 25 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6886632&loc=d3e76258-113986 Reference 18: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=64837297&loc=d3e41638-113959 Reference 19: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08.(n)) -URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690 + Details
Name: | us-gaap_DerivativeInstrumentsAndHedgingActivitiesDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration