Derivative Financial Instruments And Hedging Activities

9 Months Ended

Sep. 30, 2016

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Derivative Financial Instruments And Hedging Activities

Derivative Financial Instruments and Hedging Activities

		September 30, 2016				December 31, 2015
	Level	Notional		Fair Value		Notional		Fair Value
Derivatives designated as hedges
Assets
Fair value hedges
Interest rate swaps(a)	2	$	3,450	$	58	$	—	$	—
Cash flow hedges
Interest rate swaps(b)	3	889		1		—		—
Foreign currency swaps(a)	2	702		1		—		—
Total assets(c)		$	5,041	$	60	$	—	$	—
Liabilities
Fair value hedges
Interest rate swaps(a)	2	$	3,500	$	20	$	1,000	$	6
Cash flow hedges
Interest rate swaps(b)	3	1,870		3		—		—
Foreign currency swaps(a)	2	140		1		—		—
Total liabilities(d)		$	5,510	$	24	$	1,000	$	6
Derivatives not designated as hedges
Assets
Interest rate swaps(b)	3	$	5,483	$	22	$	4,122	$	8
Interest rate options(a)	2	8,734		8		6,327		19
Foreign currency swaps(a)	2	1,371		71		1,460		48
Total assets(c)		$	15,588	$	101	$	11,909	$	75
Liabilities
Interest rate swaps(b)	3	$	7,670	$	29	$	8,041	$	24
Interest rate options(a)	2	10,047		7		5,892		19
Total liabilities(d)		$	17,717	$	36	$	13,933	$	43

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(a) The fair value was derived using the market approach based on observable market inputs including quoted prices of similar instruments and foreign exchange and interest rate forward curves.

(b) The fair value was derived using the income approach based on a discounted cash flow model, in which expected cash flows are discounted using current risk-adjusted rates.

(c) Included in other assets in the condensed consolidated balance sheets.

(d) Included in other liabilities in the condensed consolidated balance sheets.

The following table presents information on the gains/(losses) on derivative instruments included in the condensed consolidated statements of income and comprehensive income:

	Income (Losses) Recognized In Income
	Three Months Ended September 30,						Nine Months Ended September 30,
	2016			2015			2016			2015
Fair value hedges
Interest rate contracts(a)(b)	$	6		$	—		$	26		$	—
Cash flow hedges
Interest rate contracts(a)	(2		)	—			(2		)	—
Foreign currency contracts	(1		)	—			(1		)	—
Derivatives not designated as hedges
Interest rate contracts(a)	7			(13		)	(8		)	(12		)
Foreign currency derivatives(c)	36			28			201			39
Total	$	46		$	15		$	216		$	27

	Gains Recognized In Accumulated Other Comprehensive Loss
	Three Months Ended September 30,				Nine Months Ended September 30,
	2016		2015		2016			2015
Cash flow hedges
Interest rate contracts(a)	$	2	$	—	$	(2	)	$	—
Foreign currency contracts	—		—		—			—
Total	$	2	$	—	$	(2	)	$	—

	Gains Reclassified From Accumulated Other Comprehensive Loss Into Income
	Three Months Ended September 30,					Nine Months Ended September 30,
	2016			2015		2016			2015
Cash flow hedges
Interest rate contracts(a)	$	1		$	—	$	1		$	—
Foreign currency contracts	(4		)	—		(4		)	—
Total	$	(3	)	$	—	$	(3	)	$	—

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(a) Recognized in earnings as interest expense.

(b) Includes hedge ineffectiveness which reflects the net change in the fair value of interest rate contracts of $57 million and $19 million offset by the change in fair value of hedged debt attributable to the hedged risk of $54 million and $14 million for the three and nine months ended September 30, 2016.

(c) Activity is substantially offset by translation activity (included in operating expenses) related to foreign currency-denominated loans.

The activity for interest rate swap agreements measured at fair value on a recurring basis using significant unobservable inputs (Level 3) was insignificant for the three and nine months ended September 30, 2016 and 2015.