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Financial Instruments (Tables) | 12 Months Ended
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Dec. 31, 2015
Financial Instruments [Abstract] |
Schedule of Other Derivatives Not Designated as Hedging Instruments, Statements of Financial Performance and Financial Position, Location | The following table presents the consolidated fair values of our derivatives that are not designated as hedging instruments:
|  | Asset Derivatives(1) |  | Liability Derivatives(2)
Derivatives Not Designated as Hedging Instruments |  | December 31, |  | December 31,
| 2015 |  | 2014 |  | 2015 |  | 2014
|  | (in millions)
Equity contracts |  | $ | 339 |  |  | $ | — |  |  | $ | 122 |  |  | $ | 552 |
Foreign exchange contracts |  | — |  |  | 11 |  |  | 19 |  |  | — |
Credit contracts |  | 45 |  |  | 1 |  |  | 53 |  |  | 85 |
Interest rate contracts |  | — |  |  | 1 |  |  | — |  |  | — |
Commodity contracts |  | 46 |  |  | 47 |  |  | 10 |  |  | — |
Sub-total |  | 430 |  |  | 60 |  |  | 204 |  |  | 637 |
Netting across contract types(3) |  | (171 | ) |  | (10 | ) |  | (171 | ) |  | (10 | )
Total(3) |  | $ | 259 |  |  | $ | 50 |  |  | $ | 33 |  |  | $ | 627 |
(1) | Net asset derivatives are located within other assets in our consolidated balance sheets.
(2) | Net liability derivatives are located within accrued expenses and other liabilities in our consolidated balance sheets.
(3) | Excludes netting of cash collateral received and posted. The total collateral posted at December 31, 2015 and 2014 was $883 million and $1.2 billion, respectively, across all counterparties.
The following table presents the effects of our derivative instruments not designated as hedging instruments on the statements of operations for the years ended December 31, 2015, 2014 and 2013:
|  | Gain (Loss) Recognized in Income(1)
|  | Year Ended December 31,
Derivatives Not Designated as Hedging Instruments |  | 2015 |  | 2014 |  | 2013
|  | (in millions) |  |  |  |
Equity contracts |  | $ | (1 | ) |  | $ | (1,251 | ) |  | $ | (1,871 | )
Foreign exchange contracts |  | 160 |  |  | 213 |  |  | (80 | )
Credit contracts |  | 489 |  |  | 70 |  |  | — |
Commodity contracts |  | 57 |  |  | 186 |  |  | 64 |
|  | $ | 705 |  |  | $ | (782 | ) |  | $ | (1,887 | )
(1) | Gains (losses) recognized on derivatives are classified in net gain from investment activities in our consolidated statements of operations for our Investment segment and are included in other income (loss), net for all other segments.
Schedule of Notional Amounts of Outstanding Derivative Positions | At December 31, 2015 and 2014, the volume of our derivative activities based on their notional exposure, categorized by primary underlying risk, are as follows:
| December 31, 2015 |  | December 31, 2014
| Long Notional Exposure |  | Short Notional Exposure |  | Long Notional Exposure |  | Short Notional Exposure
Primary underlying risk: | (in millions)
Credit swaps(1) | $ | 187 |  |  | $ | 2,306 |  |  | $ | 389 |  |  | $ | 1,495 |
Equity swaps | 1,343 |  |  | 14,167 |  |  | 108 |  |  | 11,312 |
Foreign currency forwards | — |  |  | 842 |  |  | — |  |  | 1,578 |
Interest rate contracts(2) | — |  |  | 137 |  |  | — |  |  | 137 |
Commodity contracts | 43 |  |  | 643 |  |  | 36 |  |  | 234 |
(1) | The short notional amount on our credit default swap positions is approximately $10.0 billion as of December 31, 2015. However, because credit spreads cannot compress below zero, our downside short notional exposure to loss is approximately $2.3 billion.
(2) | The short notional amount on certain of our interest rate contracts with a three month duration is $16.0 billion as of December 31, 2015. We assume that interest rates will not fall below zero and therefore our downside short notional exposure to loss on these contracts is $74 million (of the total $137 million disclosed in the above table).

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- Definition Tabular disclosure of the notional amounts of outstanding derivative positions. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 1A -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=56946850&loc=SL5579245-113959 + Details
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- Definition Tabular disclosure for other derivative instruments not designated as hedging instruments of (a) the location and amount of gains and losses reported in the statement of financial performance and (b) the location and fair value amounts of the instruments reported in the statement of financial position. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4C -Subparagraph (e) -URI http://asc.fasb.org/extlink&oid=56946850&loc=SL5624171-113959 + Details
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