Fair Value Measurements (Tables)

9 Months Ended

Sep. 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 September 30, 2022 and December 31, 2021 based on inputs used to derive their fair values:


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

Commodity derivatives:

Natural Gas:
Basis Swaps IFERC/NYMEX	$	23	$	23	$	—
Swing Swaps IFERC	27		27		—
Fixed Swaps/Futures	50		50		—


Forward Physical Contracts	8		—		8
Power:
Forwards	63		—		63
Futures	6		6		—


NGLs – Forwards/Swaps	669		669		—
Refined Products – Futures	11		11		—
Crude – Forwards/Swaps	26		26		—

Total commodity derivatives	883		812		71
Other non-current assets	31		20		11
Total assets	$	914	$	832	$	82
Liabilities:
Interest rate derivatives	$	(84)	$	—	$	(84)
Commodity derivatives:
Natural Gas:
Basis Swaps IFERC/NYMEX	(11)		(11)		—
Swing Swaps IFERC	(2)		(2)		—
Fixed Swaps/Futures	(63)		(63)		—


Forward Physical Contracts	(2)		—		(2)
Power:
Forwards	(57)		—		(57)
Futures	(9)		(9)		—
Options – Calls	(1)		(1)		—

NGLs – Forwards/Swaps	(493)		(493)		—
Refined Products – Futures	(8)		(8)		—
Crude – Forwards/Swaps	(14)		(14)		—
Total commodity derivatives	(660)		(601)		(59)
Total liabilities	$	(744)	$	(601)	$	(143)


			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)