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Derivative and Financial Instruments (Tables) | 12 Months Ended
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Dec. 31, 2023
Derivative Instruments and Hedging Activities Disclosure [Abstract] |
Balance Sheet Location - Fair Value Amounts of Derivatives, Balance Sheet Location | The following table presents the gross fair values of our commodity derivatives, excluding collateral, on our consolidated balance sheet:
| Millions of Dollars
| 2023 | 2022
Assets |  |
Prepaid expenses and other current assets | $ | 611 |  | 1,795 |
Other assets | 113 |  | 242 |
Liabilities |  |
Other accruals | 567 |  | 1,800 |
Other liabilities and deferred credits | 80 |  | 210 |
Gain (Loss) Amounts of Derivatives, Income Statement Location | The gains (losses) from commodity derivatives included in our consolidated income statement are presented in the following table:
| Millions of Dollars
| 2023 | 2022 | 2021
Sales and other operating revenues | $ | 86 |  | (88) |  | (228) |
Other income | (6) |  | (5) |  | 25 |
Purchased commodities | (90) |  | (91) |  | 75 |
Net Exposures from Outstanding Derivative Contracts | The table below summarizes our net exposures resulting from outstanding commodity derivative contracts:
| Open Position Long/(Short)
| 2023 | 2022
Commodity |  |
Natural gas and power (billions of cubic feet equivalent) |  |
Fixed price | (12) |  | (14) |
Basis | (2) |  | (8) |
Net Carrying Amount of Investments and Long-term Receivables Carried at Cost plus Accrued Interest | The following investments are carried on our consolidated balance sheet at cost, plus accrued interest and the table reflects remaining maturities at December 31, 2023 and 2022:
| Millions of Dollars
| Carrying Amount
| Cash and Cash Equivalents | Short-Term Investments
| 2023 | 2022 | 2023 | 2022
Cash | $ | 474 |  | 593 |  |  |
Demand Deposits | 1,424 |  | 1,638 |  |  |
Time Deposits |  |  |  |
1 to 90 days | 3,713 |  | 4,116 |  | 511 |  | 1,288 |
91 to 180 days |  |  | 22 |  | 883 |
Within one year |  |  | 3 |  | 11 |
U.S. Government Obligations |  |  |  |
1 to 90 days | 24 |  | 14 |  | — |  | — |
| $ | 5,635 |  | 6,361 |  | 536 |  | 2,182 |
Debt Securities, Available-for-Sale | The following investments in debt securities classified as available for sale are carried at fair value on our consolidated balance sheet at December 31, 2023 and 2022:
| Millions of Dollars
| Carrying Amount
| Cash and Cash Equivalents | Short-Term Investments | Investments and Long-Term Receivables
| 2023 | 2022 | 2023 | 2022 | 2023 | 2022
Major Security Type |  |  |  |  |  |
Corporate Bonds | $ | — |  | — |  | 201 |  | 323 |  | 606 |  | 309 |
Commercial Paper | — |  | 97 |  | 131 |  | 156 |  |  |
U.S. Government Obligations | — |  | — |  | 89 |  | 115 |  | 189 |  | 63 |
U.S. Government Agency Obligations |  |  | 5 |  | 8 |  | 7 |  | 5 |
Foreign Government Obligations |  |  | 7 |  | — |  | 4 |  | 7 |
Asset-backed Securities |  |  | 2 |  | 1 |  | 183 |  | 138 |
| $ | — |  | 97 |  | 435 |  | 603 |  | 989 |  | 522 |
The following table summarizes the amortized cost basis and fair value of investments in debt securities classified as available for sale at December 31:
| Millions of Dollars
| Amortized Cost Basis | Fair Value
| 2023 | 2022 | 2023 | 2022
Major Security Type |  |  |  |
Corporate Bonds | $ | 806 |  | 641 |  | 807 |  | 632 |
Commercial Paper | 131 |  | 253 |  | 131 |  | 253 |
U.S. Government Obligations | 278 |  | 181 |  | 278 |  | 178 |
U.S. Government Agency Obligations | 12 |  | 13 |  | 12 |  | 13 |
Foreign Government Obligations | 11 |  | 7 |  | 11 |  | 7 |
Asset-backed Securities | 184 |  | 139 |  | 185 |  | 139 |
| $ | 1,422 |  | 1,234 |  | 1,424 |  | 1,222 |

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