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Equity Investments
12 Months Ended
Dec. 31, 2015
Equity Method Investments and Joint Ventures [Abstract]  
Equity Investments
Equity Investments

Our equity investments in unconsolidated affiliates were $76 million and $106 million for the years ended December 31, 2015 and 2014, respectively. Equity in earnings of unconsolidated affiliates for the years ended December 31, 2015, 2014 and 2013 totaled $3 million, $9 million and $37 million, respectively.

During 2015, we prepared analyses to determine the fair value of our equity investments in less than majority owned entities. Upon completion of these valuations, we determined that the fair value attributable to certain equity investments were significantly below its carrying value. We assessed this decline in value as other than temporary and recognized an impairment loss of $25 million. See “Note 14 – Fair Value of Financial Instruments, Assets and Equity Investments” for additional information regarding the fair value determination. 

During 2014, we sold our interests in Proserv, resulting in a gain on the sale of $65 million. In 2013, we sold our interest in Borets resulting in a gain on the sale of $18 million (see “Note 2 – Business Combinations and Divestitures”).