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Derivative Instruments and Hedging Activities (Tables) | 12 Months Ended
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Dec. 31, 2020
Derivative Instruments and Hedging Activities Disclosure [Abstract] |
Interest Rate Derivatives By Type Table | The following table presents the Company's maximum notional (in millions) over the remaining contractual period by type of derivative as of December 31, 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 Derivatives |  | Maximum Notional Translated to USD |  | Latest Maturity
Interest Rate (LIBOR and EURIBOR) |  | $ | 4,772 |  |  | 2047
Cross-currency swaps (Chilean Unidad de Fomento and Brazilian Reais) |  | 246 |  |  | 2028
Foreign Currency: |  |  |  |
Argentine peso |  | 56 |  |  | 2026
Chilean peso |  | 318 |  |  | 2022
Colombian peso |  | 190 |  |  | 2023
Euro |  | 149 |  |  | 2023
Others, primarily with weighted average remaining maturities of a year or less |  | 31 |  |  | 2022
Commodity Derivatives By Type Table |
Commodity Derivatives |  | Maximum Notional |  | Latest Maturity
Natural Gas (in MMBtu) |  | 23 |  |  | 2021
Power (in MWhs) |  | 6 |  |  | 2024
Coal (in Tons or Metric Tonnes) |  | 7 |  |  | 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 Value |  | December 31, 2020 |  | December 31, 2019
Assets |  | Designated |  | Not Designated |  | Total |  | Designated |  | Not Designated |  | Total
Interest rate derivatives |  | $ | 13 |  |  | $ | — |  |  | $ | 13 |  |  | $ | 31 |  |  | $ | — |  |  | $ | 31 |
Cross-currency derivatives |  | 5 |  |  | — |  |  | 5 |  |  | — |  |  | — |  |  | — |
Foreign currency derivatives |  | 40 |  |  | 121 |  |  | 161 |  |  | 31 |  |  | 79 |  |  | 110 |
Commodity derivatives |  | 2 |  |  | 8 |  |  | 10 |  |  | — |  |  | 30 |  |  | 30 |
Total assets |  | $ | 60 |  |  | $ | 129 |  |  | $ | 189 |  |  | $ | 62 |  |  | $ | 109 |  |  | $ | 171 |
Liabilities |  |  |  |  |  |  |  |  |  |  |  |
Interest rate derivatives |  | $ | 506 |  |  | $ | 104 |  |  | $ | 610 |  |  | $ | 323 |  |  | $ | 5 |  |  | $ | 328 |
Cross-currency derivatives |  | 4 |  |  | — |  |  | 4 |  |  | 21 |  |  | — |  |  | 21 |
Foreign currency derivatives |  | 8 |  |  | 35 |  |  | 43 |  |  | 22 |  |  | 22 |  |  | 44 |
Commodity derivatives |  | — |  |  | 22 |  |  | 22 |  |  | 2 |  |  | 29 |  |  | 31 |
Total liabilities |  | $ | 518 |  |  | $ | 161 |  |  | $ | 679 |  |  | $ | 368 |  |  | $ | 56 |  |  | $ | 424 |
|  | December 31, 2020 |  | December 31, 2019
Fair Value |  | Assets |  | Liabilities |  | Assets |  | Liabilities
Current |  | $ | 51 |  |  | $ | 236 |  |  | $ | 72 |  |  | $ | 126 |
Noncurrent |  | 138 |  |  | 443 |  |  | 99 |  |  | 298 |
Total |  | $ | 189 |  |  | $ | 679 |  |  | $ | 171 |  |  | $ | 424 |
Credit Risk-Related Contingent Features (1) | December 31, 2020 |  | December 31, 2019
Present value of liabilities subject to collateralization | $ | 6 |  |  | $ | — |
Cash collateral held by third parties or in escrow | 6 |  |  | — |
_____________________________ (1) Based on the credit rating of certain subsidiaries As of December 31, 2019, all derivative instruments subject to credit risk-related contingent features were in an asset position.
Gain Loss In Accumulated Other Comprehensive Income And Earnings On Effective 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):
|  | Years Ended December 31,
2020 |  | 2019 |  | 2018
Cash flow hedges |  |  |  |  |  |
Gains (losses) recognized in AOCL |  |  |  |  |  |
Interest rate derivatives |  | $ | (511) |  |  | $ | (290) |  |  | $ | (16) |
Cross-currency derivatives |  | 3 |  |  | (26) |  |  | (26) |
Foreign currency derivatives |  | 25 |  |  | (23) |  |  | (52) |
Commodity derivatives |  | 5 |  |  | — |  |  | — |
Total |  | $ | (478) |  |  | $ | (339) |  |  | $ | (94) |
Gains (losses) reclassified from AOCL to earnings |  |  |  |  |  |
Interest rate derivatives |  | $ | (75) |  |  | $ | (28) |  |  | $ | (52) |
Cross-currency derivatives |  | (5) |  |  | (12) |  |  | (43) |
Foreign currency derivatives |  | (9) |  |  | (13) |  |  | (16) |
Commodity derivatives |  | (2) |  |  | (1) |  |  | (6) |
Total |  | $ | (91) |  |  | $ | (54) |  |  | $ | (117) |
Loss reclassified from AOCL to earnings due to discontinuance of hedge accounting (1) |  | $ | — |  |  | $ | (2) |  |  | $ | — |
Gain (losses) recognized in earnings related to |  |  |  |  |  |
Ineffective portion of cash flow hedges |  | $ | — |  |  | $ | — |  |  | $ | (7) |
Not designated as hedging instruments: |  |  |  |  |  |
Interest rate derivatives |  | (1) |  |  | — |  |  | — |
Foreign currency derivatives |  | 68 |  |  | (46) |  |  | 148 |
Commodity derivatives and other |  | (68) |  |  | (6) |  |  | 25 |
Total |  | $ | (1) |  |  | $ | (52) |  |  | $ | 173 |

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