Derivative Interpretation
1) Can someone ELI5 what the following passage means.
"This secured debt is issued by ALL C. and includes asset-backed securities used to fund operations and maintain liquidity.
The third-party investors in the securitization transactions have legal recourse only to the assets securing the debt and do not have such recourse to us, except for the customary representation and warranty provisions or when we are counterparty to certain derivative transactions of the special purpose entities (“SPEs”).
SPEs that are exposed to interest rate or currency risk may reduce their risks by entering into derivative transactions. In certain instances, we have entered into derivative transactions with the counterparty to protect the counterparty from risks absorbed through derivative transactions with the SPEs. Derivative income/(expense) related to the derivative transactions that support ALL C's securitization programs were $2 million, $(29) million, and $60 million for the years ended December 31, 2014, 2015, and 2016, respectively. "
2) What can we conclude from the values going from 2 million to (29) million to 60 million?