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Derivative Assets And Liabilities (Tables)

12 Months Ended

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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