Fair Value Measurements (Tables)

6 Months Ended

Jun. 30, 2022

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, 2022 and December 31, 2021 based on inputs used to derive their fair values:


			Fair Value Measurements at June 30, 2022
	Fair Value Total		Level 1		Level 2
Assets:

Commodity derivatives:

Natural Gas:
Basis Swaps IFERC/NYMEX	$	11	$	11	$	—
Swing Swaps IFERC	16		16		—
Fixed Swaps/Futures	51		51		—


Forward Physical Contracts	7		—		7
Power:
Forwards	88		—		88
Futures	21		21		—

Options – Calls	1		1		—
NGLs – Forwards/Swaps	236		236		—
Refined Products – Futures	36		36		—
Crude – Forwards/Swaps	21		21		—

Total commodity derivatives	488		393		95
Other non-current assets	36		23		13
Total assets	$	524	$	416	$	108
Liabilities:
Interest rate derivatives	$	(144)	$	—	$	(144)
Commodity derivatives:
Natural Gas:
Basis Swaps IFERC/NYMEX	(5)		(5)		—
Swing Swaps IFERC	(3)		(3)		—
Fixed Swaps/Futures	(50)		(50)		—


Forward Physical Contracts	(4)		—		(4)
Power:
Forwards	(67)		—		(67)
Futures	(30)		(30)		—
Options – Calls	(8)		(8)		—

NGLs – Forwards/Swaps	(204)		(204)		—
Refined Products – Futures	(3)		(3)		—
Crude – Forwards/Swaps	(7)		(7)		—
Total commodity derivatives	(381)		(310)		(71)
Total liabilities	$	(525)	$	(310)	$	(215)


			Fair Value Measurements at December 31, 2021
	Fair Value Total		Level 1		Level 2
Assets:

Commodity derivatives:

Natural Gas:
Basis Swaps IFERC/NYMEX	$	7	$	7	$	—
Swing Swaps IFERC	38		38		—
Fixed Swaps/Futures	26		26		—


Forward Physical Contracts	7		—		7
Power:
Forwards	17		—		17
Futures	6		6		—


NGLs – Forwards/Swaps	152		152		—
Refined Products – Futures	3		3		—

Crude – Forwards/Swaps	16		16		—

Total commodity derivatives	272		248		24
Other non-current assets	39		26		13
Total assets	$	311	$	274	$	37
Liabilities:
Interest rate derivatives	$	(387)	$	—	$	(387)
Commodity derivatives:
Natural Gas:
Basis Swaps IFERC/NYMEX	(10)		(10)		—
Swing Swaps IFERC	(6)		(6)		—
Fixed Swaps/Futures	(9)		(9)		—


Forward Physical Contracts	(6)		—		(6)
Power:
Forwards	(15)		—		(15)
Futures	(4)		(4)		—

NGLs – Forwards/Swaps	(140)		(140)		—
Refined Products – Futures	(18)		(18)		—

Crude – Forwards/Swaps	(3)		(3)		—

Total commodity derivatives	(211)		(190)		(21)
Total liabilities	$	(598)	$	(190)	$	(408)