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Derivative and Financial Instruments (Tables) | 3 Months Ended
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Mar. 31, 2023
Derivative Instruments and Hedging Activities Disclosure [Abstract] |
Schedule of Balance Sheet Location and Fair Value Amounts of Derivatives | The following table presents the gross fair values of our commodity derivatives, excluding collateral, and the line items where they appear on our consolidated balance sheet:
| Millions of Dollars
| March 31 2023 | December 31 2022
Assets |  |
Prepaid expenses and other current assets | $ | 983 |  | 1,795 |
Other assets | 235 |  | 242 |
Liabilities |  |
Other accruals | 969 |  | 1,800 |
Other liabilities and deferred credits | 198 |  | 210 |
Schedule of Income Statement Location and Gain (Loss) Amounts of Derivatives | The gains (losses) from commodity derivatives incurred, and the line items where they appear on our consolidated income statement were:
| Millions of Dollars
| Three Months Ended March 31 |
| 2023 | 2022 |  |
Sales and other operating revenues | $ | 28 |  | (407) |  |  |
Other income | 1 |  | 1 |  |  |
Purchased commodities | (72) |  | 401 |  |  |
Schedule of Net Exposures from Outstanding Commodity Derivative Contracts | The table below summarizes our net exposures resulting from outstanding commodity derivative contracts:
| Open Position Long (Short)
| March 31 2023 | December 31 2022
Commodity |  |
Natural gas and power (billions of cubic feet equivalent) |  |
Fixed price | (16) |  | (14) |
Basis | (39) |  | (8) |
Schedule of Net Carrying Amount of Held to Maturity Investments | The following investments are carried on our consolidated balance sheet at cost, plus accrued interest, and the table reflects remaining maturities at March 31, 2023, and December 31, 2022:
| Millions of Dollars
| Carrying Amount
| Cash and Cash Equivalents | Short-Term Investments |
| March 31 2023 | December 31 2022 | March 31 2023 | December 31 2022 |  |
Cash | $ | 676 |  | 593 |  |  |  |  |
Demand Deposits | 1,174 |  | 1,638 |  |  |  |  |
Time Deposits |  |  |  |  |  |
1 to 90 days | 4,257 |  | 4,116 |  | 985 |  | 1,288 |  |  |
91 to 180 days |  |  | 16 |  | 883 |  |  |
Within one year |  |  | 91 |  | 11 |  |  |
U.S. Government Obligations |  |  |  |  |  |
1 to 90 days | 754 |  | 14 |  | — |  | — |  |  |
| $ | 6,861 |  | 6,361 |  | 1,092 |  | 2,182 |  |  |
Schedule of Debt Securities Carried at Fair Value | The following investments in debt securities classified as available for sale are carried at fair value on our consolidated balance sheet at March 31, 2023, and December 31, 2022:
| Millions of Dollars
| Carrying Amount
| Cash and Cash Equivalents | Short-Term Investments | Investments and Long-Term Receivables
| March 31 2023 | December 31 2022 | March 31 2023 | December 31 2022 | March 31 2023 | December 31 2022
Major Security Type |  |  |  |  |  |
Corporate Bonds | $ | — |  | — |  | 307 |  | 323 |  | 391 |  | 309 |
Commercial Paper | 101 |  | 97 |  | 136 |  | 156 |  |  |
U.S. Government Obligations | 12 |  | — |  | 87 |  | 115 |  | 96 |  | 63 |
U.S. Government Agency Obligations |  |  | 13 |  | 8 |  | 7 |  | 5 |
Foreign Government Obligations |  |  | — |  | — |  | 7 |  | 7 |
Asset-backed Securities |  |  | — |  | 1 |  | 111 |  | 138 |
| $ | 113 |  | 97 |  | 543 |  | 603 |  | 612 |  | 522 |
The following table summarizes the amortized cost basis and fair value of investments in debt securities classified as available for sale:
| Millions of Dollars
| Amortized Cost Basis | Fair Value
| March 31 2023 | December 31 2022 | March 31 2023 | December 31 2022
Major Security Type |  |  |  |
Corporate Bonds | $ | 705 |  | 641 |  | 698 |  | 632 |
Commercial Paper | 237 |  | 253 |  | 237 |  | 253 |
U.S. Government Obligations | 197 |  | 181 |  | 195 |  | 178 |
U.S. Government Agency Obligations | 20 |  | 13 |  | 20 |  | 13 |
Foreign Government Obligations | 7 |  | 7 |  | 7 |  | 7 |
Asset-backed Securities | 112 |  | 139 |  | 111 |  | 139 |
| $ | 1,278 |  | 1,234 |  | 1,268 |  | 1,222 |

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