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Derivative Assets And Liabilities (Tables) | 12 Months Ended
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Dec. 31, 2022
General Discussion of Derivative Instruments and Hedging Activities [Abstract] |
Offsetting Assets [Table Text Block] |
|  |  |  | Asset Derivatives |  | Liability Derivatives
|  | Balance Sheet Location |  | December 31, 2022 |  | December 31, 2021 |  | December 31, 2022 |  | December 31, 2021
Derivatives without offsetting agreements |  | Derivative liabilities |  | $ | — |  |  | $ | — |  |  | $ | (23) |  |  | $ | (387) |
Derivatives in offsetting agreements: |  |  |  |  |  |  |  |
OTC contracts |  | Derivative assets (liabilities) |  | 95 |  |  | 53 |  |  | (108) |  |  | (52) |
Broker cleared derivative contracts |  | Other current assets (liabilities) |  | 593 |  |  | 219 |  |  | (418) |  |  | (159) |
|  | 688 |  |  | 272 |  |  | (549) |  |  | (598) |
Offsetting agreements: |  |  |  |  |  |  |  |
Counterparty netting |  | Derivative assets (liabilities) |  | (85) |  |  | (43) |  |  | 85 |  |  | 43 |
Counterparty netting |  | Other current assets (liabilities) |  | (359) |  |  | (150) |  |  | 359 |  |  | 150 |
Total net derivatives |  | $ | 244 |  |  | $ | 79 |  |  | $ | (105) |  |  | $ | (405) |
Outstanding Commodity-Related Derivatives | The following table details our outstanding commodity-related derivatives:
| December 31, 2022 |  | December 31, 2021
| Notional Volume |  | Maturity |  | Notional Volume |  | Maturity
Mark-to-Market Derivatives |  |  |  |  |  |  |
(Trading) |  |  |  |  |  |  |
Natural Gas (BBtu): |  |  |  |  |  |  |
Fixed Swaps/Futures | 145 |  |  | 2023 |  | 585 |  |  | 2022-2023
Basis Swaps IFERC/NYMEX(1) | (39,563) |  |  | 2023 |  | (66,665) |  |  | 2022
Power (Megawatt): |  |  |  |  |  |  |
Forwards | — |  |  | 2023-2029 |  | 653,000 |  |  | 2023-2029
Futures | (21,384) |  |  | 2023 |  | (604,920) |  |  | 2022-2023
Options – Puts | 119,200 |  |  | 2023 |  | (7,859) |  |  | 2022
Options – Calls | — |  |  | — |  | (30,932) |  |  | 2022
(Non-Trading) |  |  |  |  |  |  |
Natural Gas (BBtu): |  |  |  |  |  |  |
Basis Swaps IFERC/NYMEX | 42,440 |  |  | 2023-2024 |  | 6,738 |  |  | 2022-2023
Swing Swaps IFERC | (202,815) |  |  | 2023-2024 |  | (106,333) |  |  | 2022-2023
Fixed Swaps/Futures | (15,758) |  |  | 2023-2025 |  | (63,898) |  |  | 2022-2023
Forward Physical Contracts | 2,423 |  |  | 2023-2024 |  | (5,950) |  |  | 2023
NGL (MBbls) – Forwards/Swaps | 6,934 |  |  | 2023-2025 |  | 8,493 |  |  | 2022-2024
Crude (MBbls) – Forwards/Swaps | 795 |  |  | 2023-2024 |  | 3,672 |  |  | 2022-2023
Refined Products (MBbls) – Futures | (3,547) |  |  | 2023-2024 |  | (3,349) |  |  | 2022-2023
Fair Value Hedging Derivatives |  |  |  |  |  |  |
(Non-Trading) |  |  |  |  |  |  |
Natural Gas (BBtu): |  |  |  |  |  |  |
Basis Swaps IFERC/NYMEX | (37,448) |  |  | 2023 |  | (40,533) |  |  | 2022
Fixed Swaps/Futures | (37,448) |  |  | 2023 |  | (40,533) |  |  | 2022
Hedged Item – Inventory | 37,448 |  |  | 2023 |  | 40,533 |  |  | 2022
(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, 2022 |  | December 31, 2021
July 2022 (2) |  | Forward-starting to pay a fixed rate of 3.80% and receive a floating rate |  | $ | — |  |  | $ | 400 |
July 2023 (2)(3) |  | Forward-starting to pay a fixed rate of 3.845% and receive a floating rate |  | — |  |  | 200 |
July 2024 (2) |  | Forward-starting to pay a fixed rate of 3.512% and receive a floating rate |  | 400 |  |  | 200 |
(1)Floating rates are based on either SOFR or three-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) This interest rate swap was terminated and settled in 2022.
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, 2022 |  | December 31, 2021 |  | December 31, 2022 |  | December 31, 2021
Derivatives designated as hedging instruments: |  |  |  |  |  |  |
Commodity derivatives (margin deposits) | $ | 87 |  |  | $ | 46 |  |  | $ | (7) |  |  | $ | (3) |
| 87 |  |  | 46 |  |  | (7) |  |  | (3) |
Derivatives not designated as hedging instruments: |  |  |  |  |  |  |
Commodity derivatives (margin deposits) | 506 |  |  | 173 |  |  | (411) |  |  | (156) |
Commodity derivatives | 95 |  |  | 53 |  |  | (108) |  |  | (52) |
Interest rate derivatives | — |  |  | — |  |  | (23) |  |  | (387) |
| 601 |  |  | 226 |  |  | (542) |  |  | (595) |
Total derivatives | $ | 688 |  |  | $ | 272 |  |  | $ | (549) |  |  | $ | (598) |
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,
|  |  | 2022 |  | 2021 |  | 2020
Derivatives not designated as hedging instruments: |  |  |  |  |  |  |
Commodity derivatives – Trading | Cost of products sold |  | $ | 83 |  |  | $ | (6) |  |  | $ | 8 |
Commodity derivatives – Non-trading | Cost of products sold |  | 41 |  |  | (141) |  |  | (34) |
Interest rate derivatives | Gains (losses) on interest rate derivatives |  | 293 |  |  | 61 |  |  | (203) |
Total |  |  | $ | 417 |  |  | $ | (86) |  |  | $ | (229) |

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