v3.23.2
FAIR VALUE MEASUREMENTS - ASSETS AND LIABILITIES AT FAIR VALUE (Details) - USD ($)
$ in Millions
Jun. 30, 2023
Dec. 31, 2022
Assets:    
Unrealized gain on derivative contracts $ 1,865 $ 1,597
Liabilities:    
Trade accounts payable 1,095 643
Unrealized loss on derivative contracts 1,574 1,570
Unrealized loss on derivative contracts, at fair value 324 332
Other noncurrent assets    
Liabilities:    
Unrealized gains (losses) on derivative contracts 1 1
Assets and Liabilities Measured at Fair Value on a Recurring Basis    
Assets:    
Cash equivalents 300 81
Readily marketable inventories (Note 5) 7,196 6,680
Trade accounts receivable 9 7
Total assets 9,427 8,465
Liabilities:    
Trade accounts payable 1,095 643
Total liabilities 2,993 2,545
Assets and Liabilities Measured at Fair Value on a Recurring Basis | Economic hedges    
Assets:    
Other 56 100
Assets and Liabilities Measured at Fair Value on a Recurring Basis | Interest rate | Hedge accounting    
Assets:    
Unrealized gain on derivative contracts 13 3
Liabilities:    
Unrealized loss on derivative contracts 337 344
Assets and Liabilities Measured at Fair Value on a Recurring Basis | Foreign exchange | Hedge accounting    
Assets:    
Unrealized gain on derivative contracts 566 379
Liabilities:    
Unrealized loss on derivative contracts 433 462
Assets and Liabilities Measured at Fair Value on a Recurring Basis | Commodities | Economic hedges    
Assets:    
Unrealized gain on derivative contracts 1,140 1,000
Liabilities:    
Unrealized loss on derivative contracts 1,042 908
Assets and Liabilities Measured at Fair Value on a Recurring Basis | Freight | Economic hedges    
Assets:    
Unrealized gain on derivative contracts 98 80
Liabilities:    
Unrealized loss on derivative contracts 42 28
Assets and Liabilities Measured at Fair Value on a Recurring Basis | Energy | Economic hedges    
Assets:    
Unrealized gain on derivative contracts 44 130
Liabilities:    
Unrealized loss on derivative contracts 44 159
Assets and Liabilities Measured at Fair Value on a Recurring Basis | Credit | Economic hedges    
Assets:    
Unrealized gain on derivative contracts 5 5
Liabilities:    
Unrealized loss on derivative contracts 0 1
Level 1 | Assets and Liabilities Measured at Fair Value on a Recurring Basis    
Assets:    
Cash equivalents 115 0
Readily marketable inventories (Note 5) 0 0
Trade accounts receivable 0 0
Total assets 450 378
Liabilities:    
Trade accounts payable 0 0
Total liabilities 230 309
Level 1 | Assets and Liabilities Measured at Fair Value on a Recurring Basis | Economic hedges    
Assets:    
Other 24 33
Level 1 | Assets and Liabilities Measured at Fair Value on a Recurring Basis | Interest rate | Hedge accounting    
Assets:    
Unrealized gain on derivative contracts 6 0
Liabilities:    
Unrealized loss on derivative contracts 4 0
Level 1 | Assets and Liabilities Measured at Fair Value on a Recurring Basis | Foreign exchange | Hedge accounting    
Assets:    
Unrealized gain on derivative contracts 0 1
Liabilities:    
Unrealized loss on derivative contracts 0 1
Level 1 | Assets and Liabilities Measured at Fair Value on a Recurring Basis | Commodities | Economic hedges    
Assets:    
Unrealized gain on derivative contracts 165 136
Liabilities:    
Unrealized loss on derivative contracts 145 127
Level 1 | Assets and Liabilities Measured at Fair Value on a Recurring Basis | Freight | Economic hedges    
Assets:    
Unrealized gain on derivative contracts 98 80
Liabilities:    
Unrealized loss on derivative contracts 42 28
Level 1 | Assets and Liabilities Measured at Fair Value on a Recurring Basis | Energy | Economic hedges    
Assets:    
Unrealized gain on derivative contracts 42 128
Liabilities:    
Unrealized loss on derivative contracts 39 153
Level 1 | Assets and Liabilities Measured at Fair Value on a Recurring Basis | Credit | Economic hedges    
Assets:    
Unrealized gain on derivative contracts 0 0
Liabilities:    
Unrealized loss on derivative contracts 0 0
Level 2 | Assets and Liabilities Measured at Fair Value on a Recurring Basis    
Assets:    
Cash equivalents 185 81
Readily marketable inventories (Note 5) 5,812 6,268
Trade accounts receivable 9 7
Total assets 7,522 7,547
Liabilities:    
Trade accounts payable 658 513
Total liabilities 2,275 2,056
Level 2 | Assets and Liabilities Measured at Fair Value on a Recurring Basis | Economic hedges    
Assets:    
Other 21 40
Level 2 | Assets and Liabilities Measured at Fair Value on a Recurring Basis | Interest rate | Hedge accounting    
Assets:    
Unrealized gain on derivative contracts 7 3
Liabilities:    
Unrealized loss on derivative contracts 333 344
Level 2 | Assets and Liabilities Measured at Fair Value on a Recurring Basis | Foreign exchange | Hedge accounting    
Assets:    
Unrealized gain on derivative contracts 566 378
Liabilities:    
Unrealized loss on derivative contracts 433 461
Level 2 | Assets and Liabilities Measured at Fair Value on a Recurring Basis | Commodities | Economic hedges    
Assets:    
Unrealized gain on derivative contracts 915 763
Liabilities:    
Unrealized loss on derivative contracts 846 731
Level 2 | Assets and Liabilities Measured at Fair Value on a Recurring Basis | Freight | Economic hedges    
Assets:    
Unrealized gain on derivative contracts 0 0
Liabilities:    
Unrealized loss on derivative contracts 0 0
Level 2 | Assets and Liabilities Measured at Fair Value on a Recurring Basis | Energy | Economic hedges    
Assets:    
Unrealized gain on derivative contracts 2 2
Liabilities:    
Unrealized loss on derivative contracts 5 6
Level 2 | Assets and Liabilities Measured at Fair Value on a Recurring Basis | Credit | Economic hedges    
Assets:    
Unrealized gain on derivative contracts 5 5
Liabilities:    
Unrealized loss on derivative contracts 0 1
Level 3 | Assets and Liabilities Measured at Fair Value on a Recurring Basis    
Assets:    
Cash equivalents 0 0
Readily marketable inventories (Note 5) 1,384 412
Trade accounts receivable 0 0
Total assets 1,455 540
Liabilities:    
Trade accounts payable 437 130
Total liabilities 488 180
Level 3 | Assets and Liabilities Measured at Fair Value on a Recurring Basis | Economic hedges    
Assets:    
Other 11 27
Level 3 | Assets and Liabilities Measured at Fair Value on a Recurring Basis | Interest rate | Hedge accounting    
Assets:    
Unrealized gain on derivative contracts 0 0
Liabilities:    
Unrealized loss on derivative contracts 0 0
Level 3 | Assets and Liabilities Measured at Fair Value on a Recurring Basis | Foreign exchange | Hedge accounting    
Assets:    
Unrealized gain on derivative contracts 0 0
Liabilities:    
Unrealized loss on derivative contracts 0 0
Level 3 | Assets and Liabilities Measured at Fair Value on a Recurring Basis | Commodities | Economic hedges    
Assets:    
Unrealized gain on derivative contracts 60 101
Liabilities:    
Unrealized loss on derivative contracts 51 50
Level 3 | Assets and Liabilities Measured at Fair Value on a Recurring Basis | Freight | Economic hedges    
Assets:    
Unrealized gain on derivative contracts 0 0
Liabilities:    
Unrealized loss on derivative contracts 0 0
Level 3 | Assets and Liabilities Measured at Fair Value on a Recurring Basis | Energy | Economic hedges    
Assets:    
Unrealized gain on derivative contracts 0 0
Liabilities:    
Unrealized loss on derivative contracts 0 0
Level 3 | Assets and Liabilities Measured at Fair Value on a Recurring Basis | Credit | Economic hedges    
Assets:    
Unrealized gain on derivative contracts 0 0
Liabilities:    
Unrealized loss on derivative contracts $ 0 $ 0