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Derivative Assets And Liabilities (Tables) | 12 Months Ended
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Dec. 31, 2021
General Discussion of Derivative Instruments and Hedging Activities [Abstract] |
Offsetting Assets [Table Text Block] |
|  |  |  | Asset Derivatives |  | Liability Derivatives
|  | Balance Sheet Location |  | December 31, 2021 |  | December 31, 2020 |  | December 31, 2021 |  | December 31, 2020
Derivatives without offsetting agreements |  | Derivative liabilities |  | $ | — |  |  | $ | — |  |  | $ | (387) |  |  | $ | (448) |
Derivatives in offsetting agreements: |  |  |  |  |  |  |  |
OTC contracts |  | Derivative assets (liabilities) |  | 53 |  |  | 53 |  |  | (52) |  |  | (71) |
Broker cleared derivative contracts |  | Other current assets (liabilities) |  | 219 |  |  | 115 |  |  | (159) |  |  | (198) |
|  | 272 |  |  | 168 |  |  | (598) |  |  | (717) |
Offsetting agreements: |  |  |  |  |  |  |  |
Counterparty netting |  | Derivative assets (liabilities) |  | (43) |  |  | (44) |  |  | 43 |  |  | 44 |
Counterparty netting |  | Other current assets (liabilities) |  | (150) |  |  | (64) |  |  | 150 |  |  | 64 |
Total net derivatives |  | $ | 79 |  |  | $ | 60 |  |  | $ | (405) |  |  | $ | (609) |
Outstanding Commodity-Related Derivatives | The following table details our outstanding commodity-related derivatives:
| December 31, 2021 |  | December 31, 2020
| Notional Volume |  | Maturity |  | Notional Volume |  | Maturity
Mark-to-Market Derivatives |  |  |  |  |  |  |
(Trading) |  |  |  |  |  |  |
Natural Gas (BBtu): |  |  |  |  |  |  |
Fixed Swaps/Futures | 585 |  |  | 2022-2023 |  | 1,603 |  |  | 2021-2022
Basis Swaps IFERC/NYMEX(1) | (66,665) |  |  | 2022 |  | (44,225) |  |  | 2021-2022
Power (Megawatt): |  |  |  |  |  |  |
Forwards | 653,000 |  |  | 2023-2029 |  | 1,392,400 |  |  | 2021-2029
Futures | (604,920) |  |  | 2022-2023 |  | 18,706 |  |  | 2021-2022
Options – Puts | (7,859) |  |  | 2022 |  | 519,071 |  |  | 2021
Options – Calls | (30,932) |  |  | 2022 |  | 2,343,293 |  |  | 2021
(Non-Trading) |  |  |  |  |  |  |
Natural Gas (BBtu): |  |  |  |  |  |  |
Basis Swaps IFERC/NYMEX | 6,738 |  |  | 2022-2023 |  | (29,173) |  |  | 2021-2022
Swing Swaps IFERC | (106,333) |  |  | 2022-2023 |  | 11,208 |  |  | 2021
Fixed Swaps/Futures | (63,898) |  |  | 2022-2023 |  | (53,575) |  |  | 2021-2022
Forward Physical Contracts | (5,950) |  |  | 2023 |  | (11,861) |  |  | 2021
NGL (MBbls) – Forwards/Swaps | 8,493 |  |  | 2022-2024 |  | (5,840) |  |  | 2021-2022
Crude (MBbls) – Forwards/Swaps | 3,672 |  |  | 2022-2023 |  | — |  |  | —
Refined Products (MBbls) – Futures | (3,349) |  |  | 2022-2023 |  | (2,765) |  |  | 2021
Fair Value Hedging Derivatives |  |  |  |  |  |  |
(Non-Trading) |  |  |  |  |  |  |
Natural Gas (BBtu): |  |  |  |  |  |  |
Basis Swaps IFERC/NYMEX | (40,533) |  |  | 2022 |  | (30,113) |  |  | 2021
Fixed Swaps/Futures | (40,533) |  |  | 2022 |  | (30,113) |  |  | 2021
Hedged Item – Inventory | 40,533 |  |  | 2022 |  | 30,113 |  |  | 2021
(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:
Term |  | Type(1) |  | Notional Amount Outstanding
December 31, 2021 |  | December 31, 2020
July 2021 (2) (3) |  | Forward-starting to pay a fixed rate of 3.55% and receive a floating rate |  | $ | — |  |  | $ | 400 |
July 2022 (2) |  | Forward-starting to pay a fixed rate of 3.80% and receive a floating rate |  | 400 |  |  | 400 |
July 2023 (2) |  | Forward-starting to pay a fixed rate of 3.78% and receive a floating rate |  | 200 |  |  | — |
July 2024 (2) |  | Forward-starting to pay a fixed rate of 3.88% and receive a floating rate |  | 200 |  |  | — |
(1)Floating rates are based on 3-month LIBOR. (2)Represents the effective date. These forward-starting swaps have terms of 30 years with a mandatory termination date the same as the effective date. (3)The July 2021 interest rate swaps were amended in June 2021.
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
| December 31, 2021 |  | December 31, 2020 |  | December 31, 2021 |  | December 31, 2020
Derivatives designated as hedging instruments: |  |  |  |  |  |  |
Commodity derivatives (margin deposits) | $ | 46 |  |  | $ | 25 |  |  | $ | (3) |  |  | $ | (32) |
| 46 |  |  | 25 |  |  | (3) |  |  | (32) |
Derivatives not designated as hedging instruments: |  |  |  |  |  |  |
Commodity derivatives (margin deposits) | 173 |  |  | 90 |  |  | (156) |  |  | (166) |
Commodity derivatives | 53 |  |  | 53 |  |  | (52) |  |  | (71) |
Interest rate derivatives | — |  |  | — |  |  | (387) |  |  | (448) |
| 226 |  |  | 143 |  |  | (595) |  |  | (685) |
Total derivatives | $ | 272 |  |  | $ | 168 |  |  | $ | (598) |  |  | $ | (717) |
Derivatives Not Designated as Hedging Instruments [Table Text Block] |
| Location of Gain (Loss) Recognized in Income on Derivatives |  | Amount of Gain (Loss) Recognized in Income on Derivatives
|  |  | Years Ended December 31,
|  |  | 2021 |  | 2020 |  | 2019
Derivatives not designated as hedging instruments: |  |  |  |  |  |  |
Commodity derivatives – Trading | Revenues |  | $ | — |  |  | $ | — |  |  | $ | (3) |
Commodity derivatives – Trading | Cost of products sold |  | (6) |  |  | 8 |  |  | 21 |
Commodity derivatives – Non-trading | Cost of products sold |  | (141) |  |  | (34) |  |  | (100) |
Interest rate derivatives | Gains (losses) on interest rate derivatives |  | 61 |  |  | (203) |  |  | (241) |
Total |  |  | $ | (86) |  |  | $ | (229) |  |  | $ | (323) |

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