XML 59 R43.htm IDEA: XBRL DOCUMENT
v3.8.0.1

Fair Value (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2017
Fair Value Disclosures [Abstract] |
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis | The following two tables summarize the fair value measurements of our (i) energy commodity derivative contracts; (ii) interest rate swap agreements; and (iii) cross-currency swap agreements, based on the three levels established by the Codification (in millions). The tables also identify the impact of derivative contracts which we have elected to present on our accompanying consolidated balance sheets on a gross basis that are eligible for netting under master netting agreements.
| Balance sheet asset fair value measurements by level |  |  |  |
| Level 1 |  | Level 2 |  | Level 3 |  | Gross amount |  | Contracts available for netting |  | Cash collateral held(b) |  | Net amount
As of December 31, 2017 |  |  |  |  |  |  |  |  |  |  |  |  |
Energy commodity derivative contracts(a) | $ | 17 |  |  | $ | 70 |  |  | $ | — |  |  | $ | 87 |  |  | $ | (42 | ) |  | $ | (12 | ) |  | $ | 33 |
Interest rate swap agreements | $ | — |  |  | $ | 205 |  |  | $ | — |  |  | $ | 205 |  |  | $ | (15 | ) |  | $ | — |  |  | $ | 190 |
Cross-currency swap agreements | $ | — |  |  | $ | 166 |  |  | $ | — |  |  | $ | 166 |  |  | $ | (6 | ) |  | $ | — |  |  | $ | 160 |
As of December 31, 2016 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Energy commodity derivative contracts(a) | $ | 6 |  |  | $ | 168 |  |  | $ | — |  |  | $ | 174 |  |  | $ | (43 | ) |  | $ | — |  |  | $ | 131 |
Interest rate swap agreements | $ | — |  |  | $ | 300 |  |  | $ | — |  |  | $ | 300 |  |  | $ | (18 | ) |  | $ | — |  |  | $ | 282 |
| Balance sheet liability fair value measurements by level |  |  |  |
| Level 1 |  | Level 2 |  | Level 3 |  | Gross amount |  | Contracts available for netting |  | Collateral posted(b) |  | Net amount
As of December 31, 2017 |  |  |  |  |  |  |  |  |  |  |  |  |
Energy commodity derivative contracts(a) | $ | (3 | ) |  | $ | (98 | ) |  | $ | — |  |  | $ | (101 | ) |  | $ | 42 |  |  | $ | — |  |  | $ | (59 | )
Interest rate swap agreements | $ | — |  |  | $ | (65 | ) |  | $ | — |  |  | $ | (65 | ) |  | $ | 15 |  |  | $ | — |  |  | $ | (50 | )
Cross-currency swap agreements | $ | — |  |  | $ | (6 | ) |  | $ | — |  |  | $ | (6 | ) |  | $ | 6 |  |  | $ | — |  |  | $ | — |
As of December 31, 2016 |  |  |  |  |  |  |  |  |  |  |  |  |
Energy commodity derivative contracts(a) | $ | (29 | ) |  | $ | (82 | ) |  | $ | — |  |  | $ | (111 | ) |  | $ | 43 |  |  | $ | 37 |  |  | $ | (31 | )
Interest rate swap agreements | $ | — |  |  | $ | (57 | ) |  | $ | — |  |  | $ | (57 | ) |  | $ | 18 |  |  | $ | — |  |  | $ | (39 | )
Cross-currency swap agreements | $ | — |  |  | $ | (31 | ) |  | $ | — |  |  | $ | (31 | ) |  | $ | — |  |  | $ | — |  |  | $ | (31 | )
_______
(a) | Level 1 consists primarily of NYMEX natural gas futures. Level 2 consists primarily of OTC WTI swaps and NGL swaps.
(b) | Any cash collateral paid or received is reflected in this table, but only to the extent that it represents variation margins. Any amount associated with derivative prepayments or initial margins that are not influenced by the derivative asset or liability amounts or those that are determined solely on their volumetric notional amounts are excluded from this table.
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation | The table below provides a summary of changes in the fair value of our Level 3 energy commodity derivative contracts (in millions):
Significant unobservable inputs (Level 3)
| Year Ended December 31,
| 2017 |  | 2016
Derivatives-net asset (liability) |  |  |
Beginning of period | $ | — |  |  | $ | (15 | )
Total gains or (losses) included in earnings | — |  |  | (9 | )
Settlements | — |  |  | 24 |
End of period | $ | — |  |  | $ | — |
The amount of total gains or (losses) for the period included in earnings attributable to the change in unrealized gains or (losses) relating to assets held at the reporting date | $ | — |  |  | $ | — |
Fair Value, by Balance Sheet Grouping | The carrying value and estimated fair value of our outstanding debt balances is disclosed below (in millions):
| December 31, 2017 |  | December 31, 2016
| Carrying value |  | Estimated fair value |  | Carrying value |  | Estimated fair value
Total debt | $ | 37,843 |  |  | $ | 40,050 |  |  | $ | 40,050 |  |  | $ | 41,015 |

X
- Definition Tabular disclosure of the fair value measurement of assets using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes during the period attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets) and gains or losses recognized in other comprehensive income (loss), and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs), by class of asset. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c) -URI http://asc.fasb.org/extlink&oid=66048111&loc=d3e19207-110258 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=66048111&loc=d3e19279-110258 + Details
Name: | us-gaap_FairValueAssetsMeasuredOnRecurringBasisUnobservableInputReconciliationTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the fair value of financial instruments, including financial assets and financial liabilities, and the measurements of those instruments, assets, and liabilities. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=77997519&loc=d3e13476-108611 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=66048111&loc=d3e19207-110258 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 11 -URI http://asc.fasb.org/extlink&oid=77997519&loc=d3e13467-108611 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 45 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=75026489&loc=d3e13220-108610 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 30 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=75031198&loc=d3e14172-108612 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 10 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=77997519&loc=d3e13433-108611 + Details
Name: | us-gaap_FairValueByBalanceSheetGroupingTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_FairValueDisclosuresAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=66048111&loc=d3e19190-110258 + Details
Name: | us-gaap_ScheduleOfFairValueAssetsAndLiabilitiesMeasuredOnRecurringBasisTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration