The carrying amounts of derivative contracts at December 31 (see Notes 11 and 15), designated and not designated as hedging instruments for hedge accounting purposes, were as follows:
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2017 |
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$ million |
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Assets |
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Liabilities |
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Designated |
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Not designated |
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Total |
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Designated |
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Not designated |
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Total |
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Net |
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Interest rate swaps |
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— |
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16 |
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16 |
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165 |
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34 |
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199 |
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(183 |
) |
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Forward foreign exchange contracts |
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22 |
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|
403 |
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|
425 |
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— |
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591 |
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|
591 |
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(166 |
) |
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Currency swaps and options |
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|
483 |
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|
208 |
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|
691 |
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|
815 |
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|
76 |
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|
891 |
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(200 |
) |
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Commodity derivatives |
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— |
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4,929 |
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4,929 |
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— |
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4,428 |
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4,428 |
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|
501 |
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Other contracts |
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— |
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|
162 |
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|
162 |
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— |
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|
125 |
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|
125 |
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|
37 |
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Total |
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|
505 |
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5,718 |
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6,223 |
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|
980 |
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5,254 |
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6,234 |
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(11 |
) |
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2016 |
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$ million |
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Assets |
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Liabilities |
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Designated |
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Not designated |
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Total |
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Designated |
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Not designated |
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Total |
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Net |
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Interest rate swaps |
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|
38 |
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|
15 |
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|
53 |
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|
136 |
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|
38 |
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|
174 |
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(121 |
) |
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Forward foreign exchange contracts |
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— |
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|
469 |
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|
469 |
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|
10 |
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|
348 |
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|
358 |
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|
111 |
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Currency swaps and options |
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|
3 |
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|
280 |
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|
283 |
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3,241 |
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|
545 |
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|
3,786 |
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(3,503 |
) |
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Commodity derivatives |
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— |
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|
5,480 |
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|
5,480 |
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|
— |
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|
5,230 |
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|
5,230 |
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|
250 |
|
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Other contracts |
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|
— |
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|
|
77 |
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|
|
77 |
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|
|
— |
|
|
|
185 |
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|
|
185 |
|
|
|
(108 |
) |
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Total |
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|
41 |
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|
6,321 |
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|
6,362 |
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|
3,387 |
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6,346 |
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9,733 |
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(3,371 |
) |