Fair Value Measurements (Tables)

6 Months Ended

Jun. 30, 2020

Fair Value, by Balance Sheet Grouping [Table Text Block]

The following tables summarize the gross fair value of our financial assets and liabilities measured and recorded at fair value on a recurring basis as of June 30, 2020 and December 31, 2019 based on inputs used to derive their fair values:



				Fair Value Measurements at June 30, 2020
	Fair Value Total			Level 1			Level 2
Assets:
Commodity derivatives:
Natural Gas:
Basis Swaps IFERC/NYMEX	$	112		$	112		$	—
Swing Swaps IFERC	2			—			2
Fixed Swaps/Futures	93			93			—
Forward Physical Contracts	7			—			7
Power:
Forwards	21			—			21
Futures	3			3			—
Options – Puts	1			1			—
Options – Calls	1			1			—
NGLs – Forwards/Swaps	208			208			—
Refined Products – Futures	4			4			—
Crude – Forwards/Swaps	3			3			—
Total commodity derivatives	455			425			30
Other non-current assets	29			19			10
Total assets	$	484		$	444		$	40
Liabilities:
Interest rate derivatives	$	(577	)	$	—		$	(577	)
Commodity derivatives:
Natural Gas:
Basis Swaps IFERC/NYMEX	(83		)	(83		)	—
Swing Swaps IFERC	(5		)	—			(5		)
Fixed Swaps/Futures	(117		)	(117		)	—
Forward Physical Contracts	(1		)	—			(1		)
Power:
Forwards	(17		)	—			(17		)
Futures	(3		)	(3		)	—
NGLs – Forwards/Swaps	(218		)	(218		)	—
Refined Products – Futures	(21		)	(21		)	—
Crude – Forwards/Swaps	(1		)	(1		)	—
Total commodity derivatives	(466		)	(443		)	(23		)
Total liabilities	$	(1,043	)	$	(443	)	$	(600	)



				Fair Value Measurements at December 31, 2019
	Fair Value Total			Level 1			Level 2
Assets:
Commodity derivatives:
Natural Gas:
Basis Swaps IFERC/NYMEX	$	17		$	17		$	—
Swing Swaps IFERC	1			—			1
Fixed Swaps/Futures	65			65			—
Forward Physical Contracts	3			—			3
Power:
Forwards	11			—			11
Futures	4			4			—
Options – Puts	1			1			—
Options – Calls	1			1			—
NGLs – Forwards/Swaps	260			260			—
Refined Products – Futures	8			8			—
Crude – Forwards/Swaps	13			13			—
Total commodity derivatives	384			369			15
Other non-current assets	31			20			11
Total assets	$	415		$	389		$	26
Liabilities:
Interest rate derivatives	$	(399	)	$	—		$	(399	)
Commodity derivatives:
Natural Gas:
Basis Swaps IFERC/NYMEX	(49		)	(49		)	—
Swing Swaps IFERC	(1		)	—			(1		)
Fixed Swaps/Futures	(43		)	(43		)	—
Power:
Forwards	(5		)	—			(5		)
Futures	(3		)	(3		)	—
NGLs – Forwards/Swaps	(278		)	(278		)	—
Refined Products – Futures	(10		)	(10		)	—
Total commodity derivatives	(389		)	(383		)	(6		)
Total liabilities	$	(788	)	$	(383	)	$	(405	)