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Derivative Instruments and Hedging Activities (Tables) | 3 Months Ended
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Mar. 31, 2023
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 March 31, 2023, 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 |  | $ | 6,413 |  |  | 2059
Cross-currency swaps (Brazilian real) |  | 404 |  |  | 2026
Foreign Currency: |  |  |  |
Chilean peso |  | 144 |  |  | 2025
Euro |  | 141 |  |  | 2025
Colombian peso |  | 50 |  |  | 2024
Brazilian real |  | 25 |  |  | 2024
Mexican peso |  | 11 |  |  | 2024
Argentine peso |  | 4 |  |  | 2026
Commodity Derivatives |  | Maximum Notional |  | Latest Maturity
Natural Gas (in MMBtu) |  | 103 |  |  | 2030
Power (in MWhs) |  | 13 |  |  | 2040
Coal (in Tons or Metric Tons) |  | 6 |  |  | 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 | March 31, 2023 |  | December 31, 2022
Assets | Designated |  | Not Designated |  | Total |  | Designated |  | Not Designated |  | Total
Interest rate derivatives | $ | 192 |  |  | $ | — |  |  | $ | 192 |  |  | $ | 313 |  |  | $ | 1 |  |  | $ | 314 |
Foreign currency derivatives | 28 |  |  | 56 |  |  | 84 |  |  | 27 |  |  | 59 |  |  | 86 |
Commodity derivatives | — |  |  | 246 |  |  | 246 |  |  | — |  |  | 245 |  |  | 245 |
Total assets | $ | 220 |  |  | $ | 302 |  |  | $ | 522 |  |  | $ | 340 |  |  | $ | 305 |  |  | $ | 645 |
Liabilities |  |  |  |  |  |  |  |  |  |  |
Interest rate derivatives | $ | 46 |  |  | $ | — |  |  | $ | 46 |  |  | $ | 6 |  |  | $ | — |  |  | $ | 6 |
Cross-currency derivatives | 50 |  |  | — |  |  | 50 |  |  | 42 |  |  | — |  |  | 42 |
Foreign currency derivatives | 5 |  |  | 12 |  |  | 17 |  |  | 9 |  |  | 11 |  |  | 20 |
Commodity derivatives | 76 |  |  | 256 |  |  | 332 |  |  | 59 |  |  | 347 |  |  | 406 |
Total liabilities | $ | 177 |  |  | $ | 268 |  |  | $ | 445 |  |  | $ | 116 |  |  | $ | 358 |  |  | $ | 474 |
| March 31, 2023 |  | December 31, 2022
Fair Value | Assets |  | Liabilities |  | Assets |  | Liabilities
Current | $ | 295 |  |  | $ | 161 |  |  | $ | 271 |  |  | $ | 168 |
Noncurrent | 227 |  |  | 284 |  |  | 374 |  |  | 306 |
Total | $ | 522 |  |  | $ | 445 |  |  | $ | 645 |  |  | $ | 474 |
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 March 31,
|  |  |  | 2023 |  | 2022
Cash flow hedges |  |  |  |  |  |  |
Gains (losses) recognized in AOCL |  |  |  |  |  |  |
Interest rate derivatives |  |  |  |  | $ | (138) |  |  | $ | 304 |
Foreign currency derivatives |  |  |  |  | 8 |  |  | 12 |
Commodity derivatives |  |  |  |  | (23) |  |  | 29 |
Total |  |  |  |  | $ | (153) |  |  | $ | 345 |
Gains (losses) reclassified from AOCL into earnings |  |  |  |  |  |  |
Interest rate derivatives |  |  |  |  | $ | 36 |  |  | $ | (27) |
Commodity derivatives |  |  |  |  | 14 |  |  | (1) |
Total |  |  |  |  | $ | 50 |  |  | $ | (28) |
Gains (losses) on fair value hedging relationship |  |  |  |  |  |  |
Cross-currency derivatives |  |  |  |  | $ | (53) |  |  | $ | (55) |
Hedged items |  |  |  |  | 50 |  |  | 57 |
Total |  |  |  |  | $ | (3) |  |  | $ | 2 |
Gains reclassified from AOCL to earnings due to discontinuance of hedge accounting |  |  |  |  | $ | 1 |  |  | $ | — |
Gains (losses) recognized in earnings related to |  |  |  |  |  |  |
Not designated as hedging instruments: |  |  |  |  |  |  |
Interest rate derivatives |  |  |  |  | $ | — |  |  | $ | 2 |
Foreign currency derivatives |  |  |  |  | (4) |  |  | (19) |
Commodity derivatives and other |  |  |  |  | 65 |  |  | (13) |
Total |  |  |  |  | $ | 61 |  |  | $ | (30) |

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- Definition This element represents a table which sets forth, by type of interest rate and cross currency derivative, the current and maximum outstanding notional, weighted average remaining term and percentage of variable-rate debt hedged at the balance sheet date, regardless of whether the derivative instruments are in qualifying cash flow hedging relationships. As well as, a table which sets for, by type of foreign currency denomination, the outstanding notionals over the remaining terms of the foreign currency derivative instruments at the balance sheet date, regardless of whether the derivative instruments are in qualifying hedging relationships. + References No definition available. + Details
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- Definition Tabular disclosure of the effective portion of gains and losses on derivative instruments (and nonderivative instruments) designated and qualifying in net investment hedges recorded in accumulated other comprehensive income (loss) during the term of the hedging relationship and reclassified into earnings during the current period. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 815 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 4CCC -Publisher FASB -URI https://asc.fasb.org//1943274/2147480434/815-10-50-4CCC + Details
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