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Fair Value Measurements (Tables)

6 Months Ended

Jun. 30, 2024

Fair Value Measurements [Abstract]

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, 2024 and December 31, 2023 based on inputs used to derive their fair values:

									Fair Value Measurements at June 30, 2024
			Fair Value Total						Level 1						Level 2
Assets:
Interest rate derivatives			$	8					$	—					$	8
Commodity derivatives:
Natural Gas:
Basis Swaps IFERC/NYMEX			6						6						—
Swing Swaps IFERC			3						3						—
Fixed Swaps/Futures			6						6						—
Forward Physical Contracts			9						—						9
Power:
Forwards			67						67						—
Futures			11						11						—
NGLs – Forwards/Swaps			469						469						—
Refined Products – Futures			6						6						—
Crude – Forwards/Swaps			20						20						—
Total commodity derivatives			597						588						9
Other non-current assets			33						22						11
Total assets			$	638					$	610					$	28
Liabilities:
Commodity derivatives:
Natural Gas:
Basis Swaps IFERC/NYMEX			$	(8)					$	(8)					$	—
Swing Swaps IFERC			(3)						(3)						—
Fixed Swaps/Futures			(9)						(9)						—
Power:
Forwards			(64)						(64)						—
Futures			(7)						(7)						—
NGLs – Forwards/Swaps			(481)						(481)						—
Refined Products – Futures			(6)						(6)						—
Crude – Forwards/Swaps			(12)						(12)						—
Total commodity derivatives			(590)						(590)						—
Total liabilities			$	(590)					$	(590)					$	—

									Fair Value Measurements at December 31, 2023
			Fair Value Total						Level 1						Level 2
Assets:
Interest rate derivatives			$	6					$	—					$	6
Commodity derivatives:
Natural Gas:
Basis Swaps IFERC/NYMEX			24						24						—
Swing Swaps IFERC			20						20						—
Fixed Swaps/Futures			77						77						—
Forward Physical Contracts			8						—						8
Power:
Forwards			57						57						—
Futures			8						8						—
NGLs – Forwards/Swaps			336						336						—
Refined Products – Futures			35						35						—
Crude – Forwards/Swaps			45						45						—
Total commodity derivatives			610						602						8
Other non-current assets			31						20						11
Total assets			$	647					$	622					$	25
Liabilities:
Interest rate derivatives			$	(4)					$	—					$	(4)
Commodity derivatives:
Natural Gas:
Basis Swaps IFERC/NYMEX			(3)						(3)						—
Swing Swaps IFERC			(2)						(2)						—
Fixed Swaps/Futures			(16)						(16)						—
Options – Puts			(2)						(2)						—
Power:
Forwards			(56)						(56)						—
Futures			(8)						(8)						—
NGL/Refined Products Option - Puts			(1)						(1)						—
NGL/Refined Products Option - Calls			(1)						(1)						—
NGLs – Forwards/Swaps			(316)						(316)						—
Refined Products – Futures			(18)						(18)						—
Crude – Forwards/Swaps			(37)						(37)						—
Total commodity derivatives			(460)						(460)						—
Total liabilities			$	(464)					$	(460)					$	(4)

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- Definition

Fair value measurements abstract.

+ References

No definition available.

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- Definition

Tabular disclosure of the fair value of financial instruments, including financial assets and financial liabilities, and the measurements of those instruments, assets, and liabilities.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 50
-Paragraph 11
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482907/825-10-50-11

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