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Derivative Financial Instruments and Hedging Activities
 12 Months Ended
Dec. 31, 2017
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Derivative Financial Instruments and Hedging Activities
Derivative Financial Instruments and Hedging Activities
 
 
 
December 31, 2017
 
December 31, 2016
 
Level
 
Notional
 
Fair Value
 
Notional
 
Fair Value
Derivatives designated as hedges
 
 
 
 
 
 
 
 
 
Assets
 
 
 
 
 
 
 
 
 
Fair value hedges
 
 
 
 
 
 
 
 
 
Interest rate swaps
2
 
$
1,250

 
$
2

 
$
—

 
$
—

Cash flow hedges
 
 
 
 
 
 
 
 
 
Interest rate swaps
2,3
 
2,177

 
15

 
3,070

 
12

Foreign currency swaps
2
 
1,574

 
103

 
—

 
—

Total assets(a)
 
 
$
5,001

 
$
120

 
$
3,070

 
$
12

Liabilities
 
 
 
 
 
 
 
 
 
Fair value hedges
 
 
 
 
 
 
 
 
 
Interest rate swaps
2
 
$
9,860

 
$
290

 
$
7,700

 
$
276

Cash flow hedges
 
 
 
 
 
 
 
 
 
Interest rate swaps
2,3
 
—

 
—

 
500

 
1

Foreign currency swaps
2
 
—

 
—

 
791

 
33

Total liabilities(b)
 
 
$
9,860

 
$
290

 
$
8,991

 
$
310

Derivatives not designated as hedges
 
 
 
 
 
 
 
 
 
Assets
 
 
 
 
 
 
 
 
 
Interest rate swaps
2,3
 
$
38,741

 
$
260

 
$
7,959

 
$
54

Interest rate caps and floors
2
 
16,840

 
69

 
9,698

 
26

Foreign currency swaps
2
 
1,201

 
104

 
—

 
—

Total assets(a)
 
 
$
56,782

 
$
433

 
$
17,657

 
$
80

Liabilities
 
 
 
 
 
 
 
 
 
Interest rate swaps
2,3
 
$
8,404

 
$
137

 
$
6,170

 
$
28

Interest rate caps and floors
2
 
17,953

 
70

 
12,146

 
26

Total liabilities(b)
 
 
$
26,357

 
$
207

 
$
18,316

 
$
54


 _________________
(a)
Derivative assets are included in other assets.
(b)
Derivative liabilities are included in other liabilities. Amounts accrued for interest payments in a net receivable position are included in other assets.

The fair value for Level 2 instruments 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. The fair value for Level 3 instruments 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. The activity for interest rate swap agreements measured at fair value on a recurring basis using significant unobservable inputs (Level 3) was insignificant for 2017, 2016 and 2015.
 
Income (Losses) Recognized In Income
 
Years Ended December 31,
 
2017
 
2016
 
2015
Fair value hedges
 
 
 
 
 
Interest rate contracts(a)(b)
$
42

 
$
(7
)
 
$
1

Cash flow hedges
 
 
 
 
 
Interest rate contracts(a)
3

 
(3
)
 
—

Foreign currency contracts(c)
121

 
39

 
—

Derivatives not designated as hedges
 
 
 
 
 
Interest rate contracts(a)
40

 
27

 
(12
)
Foreign currency contracts(c)(d)
86

 
—

 
4

Total
$
292

 
$
56

 
$
(7
)
_________________
(a)
Recognized in earnings as interest expense.
(b)
Includes hedge ineffectiveness which reflects the net change in the fair value of interest rate contracts offset by the change in fair value of hedged debt attributable to the hedged risk.
(c)
Recognized in earnings as other operating expenses and interest expense.
(d)
Activity is partially offset by translation activity (included in other operating expenses) related to foreign currency-denominated loans.
 
Gains (Losses) Recognized In
Accumulated Other Comprehensive Loss
 
Years Ended December 31,
 
2017
 
2016
 
2015
Cash flow hedges
 
 
 
 
 
Interest rate contracts
$
5

 
$
4

 
$
—

Foreign currency contracts
81

 
(20
)
 
—

Total
$
86

 
$
(16
)
 
$
—

 
(Losses) Gains Reclassified From
Accumulated Other Comprehensive Loss Into Income
 
Years Ended December 31,
 
2017
 
2016
 
2015
Cash flow hedges
 
 
 
 
 
Interest rate contracts
$
(1
)
 
$
2

 
$
—

Foreign currency contracts
(86
)
 
31

 
—

Total
$
(87
)
 
$
33

 
$
—