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Derivative Assets And Liabilities (Tables) | 3 Months Ended
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Mar. 31, 2018
Outstanding Commodity-Related Derivatives | The following table details our outstanding commodity-related derivatives:
| March 31, 2018 |  | December 31, 2017
| Notional Volume |  | Maturity |  | Notional Volume |  | Maturity
Mark-to-Market Derivatives |  |  |  |  |  |  |
(Trading) |  |  |  |  |  |  |
Natural Gas (BBtu): |  |  |  |  |  |  |
Fixed Swaps/Futures | 1,008 |  |  | 2018 |  | 1,078 |  |  | 2018
Basis Swaps IFERC/NYMEX (1) | 82,493 |  |  | 2018-2020 |  | 48,510 |  |  | 2018-2020
Options – Puts | 13,000 |  |  | 2018 |  | 13,000 |  |  | 2018
Options – Calls | 460 |  |  | 2018 |  | — |  |  | —
Power (Megawatt): |  |  |  |  |  |  |
Forwards | 236,680 |  |  | 2018-2019 |  | 435,960 |  |  | 2018-2019
Futures | 126,200 |  |  | 2018 |  | (25,760 | ) |  | 2018
Options — Puts | 238,400 |  |  | 2018 |  | (153,600 | ) |  | 2018
Options — Calls | 349,600 |  |  | 2018 |  | 137,600 |  |  | 2018
(Non-Trading) |  |  |  |  |  |  |
Natural Gas (BBtu): |  |  |  |  |  |  |
Basis Swaps IFERC/NYMEX | 9,750 |  |  | 2018-2020 |  | 4,650 |  |  | 2018-2020
Swing Swaps IFERC | (24,825 | ) |  | 2018-2019 |  | 87,253 |  |  | 2018-2019
Fixed Swaps/Futures | (4,540 | ) |  | 2018-2019 |  | (4,390 | ) |  | 2018-2019
Forward Physical Contracts | (224,178 | ) |  | 2018-2020 |  | (145,105 | ) |  | 2018-2020
Natural Gas Liquid/Crude (MBbls) – Forwards/Swaps | 38,874 |  |  | 2018-2019 |  | 6,744 |  |  | 2018-2019
Refined Products (MBbls) – Futures | (871 | ) |  | 2018-2019 |  | (3,901 | ) |  | 2018-2019
Corn (Bushels) – Futures | (780,000 | ) |  | 2018 |  | 1,870,000 |  |  | 2018
Fair Value Hedging Derivatives |  |  |  |  |  |  |
(Non-Trading) |  |  |  |  |  |  |
Natural Gas (BBtu): |  |  |  |  |  |  |
Basis Swaps IFERC/NYMEX | (18,685 | ) |  | 2018 |  | (39,770 | ) |  | 2018
Fixed Swaps/Futures | (18,685 | ) |  | 2018 |  | (39,770 | ) |  | 2018
Hedged Item — Inventory | 18,685 |  |  | 2018 |  | 39,770 |  |  | 2018
(1) | Includes aggregate amounts for open positions related to Houston Ship Channel, Waha Hub, NGPL TexOk, West Louisiana Zone and Henry Hub locations
Interest Rate Swaps Outstanding | The following table summarizes our interest rate swaps outstanding none of which were designated as hedges for accounting purposes:
|  |  |  | Notional Amount Outstanding
Term |  | Type(1) |  | March 31, 2018 |  | December 31, 2017
July 2018(2) |  | Forward-starting to pay a fixed rate of 3.76% and receive a floating rate |  | $ | 300 |  |  | $ | 300 |
July 2019(2) |  | Forward-starting to pay a fixed rate of 3.64% and receive a floating rate |  | 300 |  |  | 300 |
July 2020(2) |  | Forward-starting to pay a fixed rate of 3.52% and receive a floating rate |  | 400 |  |  | 400 |
December 2018 |  | Pay a floating rate based on a 3-month LIBOR and receive a fixed rate of 1.53% |  | 1,200 |  |  | 1,200 |
March 2019 |  | Pay a floating rate based on a 3-month LIBOR and receive a fixed rate of 1.42% |  | 300 |  |  | 300 |
(1) | Floating rates are based on 3-month LIBOR.
(2) | Represents the effective date. These forward-starting swaps have a term of 30 years with a mandatory termination date the same as the effective date.
Fair Value Of Derivative Instruments | The following table provides a summary of our derivative assets and liabilities:
| Fair Value of Derivative Instruments
| Asset Derivatives |  | Liability Derivatives
| March 31, 2018 |  | December 31, 2017 |  | March 31, 2018 |  | December 31, 2017
Derivatives designated as hedging instruments: |  |  |  |  |  |  |
Commodity derivatives (margin deposits) | $ | — |  |  | $ | 14 |  |  | $ | — |  |  | $ | (2 | )
Derivatives not designated as hedging instruments: |  |  |  |  |  |  |
Commodity derivatives (margin deposits) | 166 |  |  | 262 |  |  | (206 | ) |  | (281 | )
Commodity derivatives | 89 |  |  | 45 |  |  | (144 | ) |  | (58 | )
Interest rate derivatives | — |  |  | — |  |  | (167 | ) |  | (219 | )
| 255 |  |  | 307 |  |  | (517 | ) |  | (558 | )
Total derivatives | $ | 255 |  |  | $ | 321 |  |  | $ | (517 | ) |  | $ | (560 | )
Derivatives, Offsetting Fair Value Amounts [Table Text Block] | The following table presents the fair value of our recognized derivative assets and liabilities on a gross basis and amounts offset on the consolidated balance sheets that are subject to enforceable master netting arrangements or similar arrangements:
|  |  |  | Asset Derivatives |  | Liability Derivatives
|  | Balance Sheet Location |  | March 31, 2018 |  | December 31, 2017 |  | March 31, 2018 |  | December 31, 2017
Derivatives without offsetting agreements |  | Derivative liabilities |  | $ | — |  |  | $ | — |  |  | $ | (167 | ) |  | $ | (219 | )
Derivatives in offsetting agreements: |  |  |  |  |  |  |  |
OTC contracts |  | Derivative assets (liabilities) |  | 89 |  |  | 45 |  |  | (144 | ) |  | (58 | )
Broker cleared derivative contracts |  | Other current assets (liabilities) |  | 166 |  |  | 276 |  |  | (206 | ) |  | (283 | )
Total gross derivatives |  | 255 |  |  | 321 |  |  | (517 | ) |  | (560 | )
Offsetting agreements: |  |  |  |  |  |  |  |
Counterparty netting |  | Derivative assets (liabilities) |  | (63 | ) |  | (21 | ) |  | 63 |  |  | 21 |
Counterparty netting |  | Other current assets (liabilities) |  | (165 | ) |  | (263 | ) |  | 165 |  |  | 263 |
Total net derivatives |  | $ | 27 |  |  | $ | 37 |  |  | $ | (289 | ) |  | $ | (276 | )
Schedule of Cash Flow Hedging Instruments, Statements of Financial Performance and Financial Position, Location [Table Text Block] | The following tables summarize the amounts recognized with respect to our derivative financial instruments:
|  | Location of Gain/(Loss) Recognized in Income on Derivatives |  | Amount of Gain/(Loss) Recognized in Income Representing Hedge Ineffectiveness and Amount Excluded from the Assessment of Effectiveness
|  |  |  | Three Months Ended March 31,
|  |  |  | 2018 |  | 2017
Derivatives in fair value hedging relationships (including hedged item): |  |  |  |
Commodity derivatives |  | Cost of products sold |  | $ | 3 |  |  | $ | (4 | )
Schedule of Other Derivatives Not Designated as Hedging Instruments, Statements of Financial Performance and Financial Position, Location [Table Text Block] |
|  | Location of Gain/(Loss) Recognized in Income on Derivatives |  | Amount of Gain/(Loss) Recognized in Income on Derivatives
|  |  |  | Three Months Ended March 31,
|  |  |  | 2018 |  | 2017
Derivatives not designated as hedging instruments: |  |  |  |
Commodity derivatives — Trading |  | Cost of products sold |  | $ | 17 |  |  | $ | 11 |
Commodity derivatives — Non-trading |  | Cost of products sold |  | (71 | ) |  | 2 |
Interest rate derivatives |  | Gains on interest rate derivatives |  | 52 |  |  | 5 |
Embedded derivatives |  | Other, net |  | — |  |  | 1 |
Total |  |  |  | $ | (2 | ) |  | $ | 19 |

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