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Derivative Instruments and Hedging Activities (Tables)
 9 Months Ended
Sep. 30, 2020
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Interest Rate And Cross Currency Derivatives By Type Table The following tables present the Company’s maximum notional (in millions) over the remaining contractual period by type of derivative as of September 30, 2020, regardless of whether they are in qualifying cash flow hedging relationships, and the dates through which the maturities for each type of derivative range:
Interest Rate and Foreign Currency DerivativesMaximum Notional Translated to USDLatest Maturity
Interest rate (LIBOR and EURIBOR)$4,750 2047
Cross-currency swaps (Chilean Unidad de Fomento and Chilean peso)191 2029
Foreign Currency:
Argentine peso103 2026
Chilean peso129 2022
Colombian peso133 2022
Mexican peso217 2020
Euro131 2023
Others, primarily with weighted average remaining maturities of a year or less34 2022
Commodity Derivatives
Maximum NotionalLatest Maturity
Natural Gas (in MMBtu)30 2021
Power (in MWhs)10 2024
Coal (in Tons or Metric Tons)9 2027
Derivative Assets Liabilities At Fair Value Net By Balance Sheet Classification And Type Table 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 ValueSeptember 30, 2020December 31, 2019
AssetsDesignatedNot DesignatedTotalDesignatedNot DesignatedTotal
Interest rate derivatives$3 $— $3 $31 $— $31 
Foreign currency derivatives20 80 100 31 79 110 
Commodity derivatives— 22 22 — 30 30 
Total assets$23 $102 $125 $62 $109 $171 
Liabilities
Interest rate derivatives$673 $9 $682 $323 $5 $328 
Cross-currency derivatives27 — 27 21 — 21 
Foreign currency derivatives14 23 37 22 22 44 
Commodity derivatives— 24 24 2 29 31 
Total liabilities$714 $56 $770 $368 $56 $424 
September 30, 2020December 31, 2019
Fair ValueAssetsLiabilitiesAssetsLiabilities
Current$68 $335 $72 $126 
Noncurrent57 435 99 298 
Total$125 $770 $171 $424 
Credit Risk-Related Contingent Features (1)
September 30, 2020
Present value of liabilities subject to collateralization$19 
Cash collateral held by third parties or in escrow19 
Gain Loss In Earnings On Ineffective Portion Of Qualifying Cash Flow Hedges Table The following table presents the pre-tax gains (losses) recognized in AOCL and earnings related to all derivative instruments for the periods indicated (in millions):
Three Months Ended September 30,Nine Months Ended September 30,
2020201920202019
Cash flow hedges
Gains (losses) recognized in AOCL
Interest rate derivatives$20 $(186)$(532)$(450)
Equity in earnings— — (43)— 
Cross-currency derivatives11 (19)(25)(10)
Foreign currency derivatives— (20)(14)(14)
Commodity derivatives— 3 4 2 
Total$31 $(222)$(610)$(472)
Gains (losses) reclassified from AOCL into earnings
Interest rate derivatives$(38)$(8)$(83)$(25)
Cross-currency derivatives4 (11)(11)(5)
Foreign currency derivatives(3)(4)(16)(15)
Commodity derivatives— — 2 — 
Total$(37)$(23)$(108)$(45)
Gains reclassified from AOCL to earnings due to discontinuance of hedge accounting (1)
$— $— $— $2 
Gains (losses) recognized in earnings related to
Not designated as hedging instruments:
Interest rate derivatives$— $(2)$(1)$(6)
Foreign currency derivatives8 (39)30 (33)
Commodity derivatives and other(56)(2)(50)2 
Total$(48)$(43)$(21)$(37)