XML 52 R14.htm IDEA: XBRL DOCUMENT
v3.8.0.1

Derivative Instruments and Hedging Activities | 12 Months Ended
--- | ---
Dec. 31, 2017
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 maximum notional (in millions) over the remaining contractual period by type of derivative as of December 31, 2017, 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 |  | Maximum Notional Translated to USD |  | Latest Maturity
Interest Rate (LIBOR and EURIBOR) |  | $ | 4,481 |  |  | 2036
Cross-Currency Swaps (Chilean Unidad de Fomento and Chilean Peso) |  | 410 |  |  | 2029
Foreign Currency: |  |  |  |
Argentine Peso |  | 187 |  |  | 2026
Chilean Peso |  | 410 |  |  | 2020
Colombian Peso |  | 305 |  |  | 2019
Others, primarily with weighted average remaining maturities of a year or less |  | 303 |  |  | 2020
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, 2017 |  | December 31, 2016
Assets |  | Designated |  | Not Designated |  | Total |  | Designated |  | Not Designated |  | Total
Interest rate derivatives |  | $ | 15 |  |  | $ | — |  |  | $ | 15 |  |  | $ | 18 |  |  | $ | — |  |  | $ | 18 |
Cross-currency derivatives |  | 29 |  |  | — |  |  | 29 |  |  | 4 |  |  | — |  |  | 4 |
Foreign currency derivatives |  | 8 |  |  | 261 |  |  | 269 |  |  | 9 |  |  | 300 |  |  | 309 |
Commodity derivatives |  | 5 |  |  | 30 |  |  | 35 |  |  | 20 |  |  | 25 |  |  | 45 |
Total assets |  | $ | 57 |  |  | $ | 291 |  |  | $ | 348 |  |  | $ | 51 |  |  | $ | 325 |  |  | $ | 376 |
Liabilities |  |  |  |  |  |  |  |  |  |  |  |
Interest rate derivatives |  | $ | 125 |  |  | $ | 137 |  |  | $ | 262 |  |  | $ | 295 |  |  | $ | 5 |  |  | $ | 300 |
Cross-currency derivatives |  | 3 |  |  | — |  |  | 3 |  |  | 18 |  |  | — |  |  | 18 |
Foreign currency derivatives |  | 1 |  |  | 29 |  |  | 30 |  |  | 19 |  |  | 45 |  |  | 64 |
Commodity derivatives |  | 9 |  |  | 11 |  |  | 20 |  |  | 26 |  |  | 16 |  |  | 42 |
Total liabilities |  | $ | 138 |  |  | $ | 177 |  |  | $ | 315 |  |  | $ | 358 |  |  | $ | 66 |  |  | $ | 424 |
|  | December 31, 2017 |  | December 31, 2016
Fair Value |  | Assets |  | Liabilities |  | Assets |  | Liabilities
Current |  | $ | 84 |  |  | $ | 211 |  |  | $ | 99 |  |  | $ | 155 |
Noncurrent |  | 264 |  |  | 104 |  |  | 277 |  |  | 269 |
Total |  | $ | 348 |  |  | $ | 315 |  |  | $ | 376 |  |  | $ | 424 |
Credit Risk-Related Contingent Features (1) |  |  |  |  |  | December 31, 2017 |  | December 31, 2016
Present value of liabilities subject to collateralization |  |  |  |  |  | $ | 15 |  |  | $ | 41 |
Cash collateral held by third parties or in escrow |  |  |  |  |  | 9 |  |  | 18 |
_____________________________
(1) | Based on the credit rating of certain subsidiaries
Earnings and Other Comprehensive Income (Loss) — The following table presents (in millions) the pre-tax gains (losses) recognized in AOCL and earnings related to all derivative instruments for the periods indicated:
|  | Years Ended December 31,
2017 |  | 2016 |  | 2015
Effective portion of cash flow hedges |  |  |  |  |  |
Gains (losses) recognized in AOCL |  |  |  |  |  |
Interest rate derivatives |  | $ | (66 | ) |  | $ | (35 | ) |  | $ | (103 | )
Cross-currency derivatives |  | 31 |  |  | 21 |  |  | (20 | )
Foreign currency derivatives |  | (5 | ) |  | (4 | ) |  | 10 |
Commodity derivatives |  | 18 |  |  | 30 |  |  | 40 |
Total |  | $ | (22 | ) |  | $ | 12 |  |  | $ | (73 | )
Gains (losses) reclassified from AOCL to earnings |  |  |  |  |  |
Interest rate derivatives |  | $ | (82 | ) |  | $ | (101 | ) |  | $ | (116 | )
Cross-currency derivatives |  | 34 |  |  | 8 |  |  | (24 | )
Foreign currency derivatives |  | (20 | ) |  | (8 | ) |  | 32 |
Commodity derivatives |  | 17 |  |  | 56 |  |  | 31 |
Total |  | $ | (51 | ) |  | $ | (45 | ) |  | $ | (77 | )
Loss reclassified from AOCL to earnings due to discontinuance of hedge accounting (1) |  | $ | (13 | ) |  | $ | — |  |  | $ | — |
Gain (losses) recognized in earnings related to |  |  |  |  |  |
Ineffective portion of cash flow hedges |  | $ | 3 |  |  | $ | (1 | ) |  | $ | (6 | )
Not designated as hedging instruments: |  |  |  |  |  |
Foreign currency derivatives |  | $ | 1 |  |  | $ | 19 |  |  | $ | 211 |
Commodity derivatives and other |  | 14 |  |  | (16 | ) |  | (29 | )
Total |  | $ | 15 |  |  | $ | 3 |  |  | $ | 182 |
_____________________________
(1) | Cash flow hedge was discontinued because it was probable the forecasted transaction will not occur.
The AOCL expected to decrease pre-tax income from continuing operations, primarily due to interest rate derivatives, for the twelve months ended December 31, 2017 is $58 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 -URI http://asc.fasb.org/topic&trid=2229140 + Details
Name: | us-gaap_DerivativeInstrumentsAndHedgingActivitiesDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration