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Derivative and Financial Instruments (Tables)
 3 Months Ended
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
20232022
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 EquivalentsShort-Term InvestmentsInvestments 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 Obligations12 — 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