XML 50 R36.htm IDEA: XBRL DOCUMENT v3.25.1

Derivative Assets And Liabilities (Tables)

3 Months Ended

Mar. 31, 2025

General Discussion of Derivative Instruments and Hedging Activities [Abstract]

Derivatives, Offsetting Fair Value Amounts [Table Text Block]

The following table presents the fair value of our recognized derivative assets and liabilities on a gross basis and amounts offset on the consolidated balance sheets that are subject to enforceable master netting arrangements or similar arrangements:

												Asset Derivatives												Liability Derivatives
						Balance Sheet Location						March 31, 2025						December 31, 2024						March 31, 2025						December 31, 2024
Derivatives in offsetting agreements:
OTC contracts						Derivative assets (liabilities)						$	43					$	51					$	(57)					$	(57)
Broker cleared derivative contracts						Other current assets (liabilities)						326						212						(347)						(236)
Total gross derivatives												369						263						(404)						(293)
Offsetting agreements:
Counterparty netting						Derivative assets (liabilities)						(37)						(42)						37						42
Counterparty netting						Other current assets (liabilities)						(282)						(204)						282						204
Total net derivatives												$	50					$	17					$	(85)					$	(47)

We disclose the non-exchange traded financial derivative instruments as derivative assets and liabilities on our consolidated balance sheets at fair value with amounts classified as either current or long-term depending on the anticipated settlement date.

The following table summarizes the location and amounts recognized in our consolidated statements of operations with respect to our derivative financial instruments:

			Location of Gain (Loss) Recognized on Income on Derivatives																		Amount of Gain (Loss) Recognized in Income on Derivatives
															Three Months Ended March 31,
																					2025						2024
Derivatives not designated as hedging instruments:
Commodity derivatives			Cost of products sold																		$	(12)					$	16
Interest rate derivative(1)			Gain on interest rate derivative																		—						9
Total																					$	(12)					$	25

(1)This interest rate derivative was terminated by USAC in August 2024.

Derivatives Not Designated as Hedging Instruments [Table Text Block]

The following table summarizes the location and amounts recognized in our consolidated statements of operations with respect to our derivative financial instruments:

			Location of Gain (Loss) Recognized on Income on Derivatives																		Amount of Gain (Loss) Recognized in Income on Derivatives
															Three Months Ended March 31,
																					2025						2024
Derivatives not designated as hedging instruments:
Commodity derivatives			Cost of products sold																		$	(12)					$	16
Interest rate derivative(1)			Gain on interest rate derivative																		—						9
Total																					$	(12)					$	25

(1)This interest rate derivative was terminated by USAC in August 2024.

Schedule of Derivative Instruments [Table Text Block]

The following table details our outstanding commodity-related derivatives:

			March 31, 2025												December 31, 2024
			Notional Volume						Maturity						Notional Volume						Maturity
Mark-to-Market Derivatives
Natural Gas (BBtu):
Fixed Swaps/Futures			(15,135)						2025-2027						6,630						2025-2026
Basis Swaps IFERC/NYMEX			880						2025-2028						3,490						2025-2027
Swing Swaps			(138,780)						2025-2027						(156,820)						2025-2027
Options – Calls			600						2025-2026						—
Power (Megawatt):
Forwards			58,600						2025-2029						6,040						2025-2029
Futures			(340,545)						2025-2027						(140,137)						2025-2026
Options – Puts			33,600						2025-2026						(17,600)						2025
Options – Calls			14,400						2025-2026						—
Crude (MBbls):
Forwards/Swaps			(21,363)						2025-2027						(22,512)						2025-2026
NGL/Refined Products (MBbls):
Forward/Swaps			(4,819)						2025-2028						(15,063)						2025-2027
Options – Puts			7						2025-2026						(9)						2025-2026
Options – Calls			(2)						2025-2026						(14)						2025-2026
Futures			(3,064)						2025-2027						(1,763)						2025-2026
Fair Value Hedging Derivatives
Natural Gas (BBtu):
Basis Swaps IFERC/NYMEX			(38,945)						2025						(47,170)						2025
Fixed Swaps/Futures			(38,945)						2025						(47,170)						2025
Hedged Item – Inventory			38,945						2025						44,170						2025

Schedule of Derivative Instruments in Statement of Financial Position, Fair Value [Table Text Block]

The following table provides a summary of our derivative assets and liabilities:

						Fair Value of Derivative Instruments
						Asset Derivatives												Liability Derivatives
						March 31, 2025						December 31, 2024						March 31, 2025						December 31, 2024
Derivatives designated as hedging instruments:
Commodity derivatives – margin deposits						$	18					$	3					$	(46)					$	(7)
						18						3						(46)						(7)
Derivatives not designated as hedging instruments:
Commodity derivatives – margin deposits						308						209						(301)						(229)
Commodity derivatives						43						51						(57)						(57)
						351						260						(358)						(286)
Total derivatives						$	369					$	263					$	(404)					$	(293)

X

- References

No definition available.

+ Details

Name:	us-gaap_GeneralDiscussionOfDerivativeInstrumentsAndHedgingActivitiesAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of derivative and other financial assets that are subject to offsetting, including master netting arrangements.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 7A
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480434/815-10-50-7A

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 210
-SubTopic 20
-Name Accounting Standards Codification
-Section 55
-Paragraph 10
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483444/210-20-55-10

Reference 3: http://www.xbrl.org/2003/role/exampleRef
-Topic 210
-SubTopic 20
-Name Accounting Standards Codification
-Section 55
-Paragraph 22
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483444/210-20-55-22

Reference 4: http://www.xbrl.org/2003/role/exampleRef
-Topic 210
-SubTopic 20
-Name Accounting Standards Codification
-Section 55
-Paragraph 21
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483444/210-20-55-21

Reference 5: http://www.xbrl.org/2003/role/exampleRef
-Topic 210
-SubTopic 20
-Name Accounting Standards Codification
-Section 55
-Paragraph 20
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483444/210-20-55-20

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 210
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483466/210-20-50-3

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 210
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 4
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483466/210-20-50-4

+ Details

Name:	us-gaap_OffsettingAssetsTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the location and fair value amounts of derivative instruments (and nonderivative instruments that are designated and qualify as hedging instruments) reported in the statement of financial position.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 815
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 182
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480401/815-10-55-182

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 4A
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480434/815-10-50-4A

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 4E
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480434/815-10-50-4E

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 4B
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480434/815-10-50-4B

+ Details

Name:	us-gaap_ScheduleOfDerivativeInstrumentsInStatementOfFinancialPositionFairValueTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of pertinent information about a derivative or group of derivatives on a disaggregated basis, such as for individual instruments, or small groups of similar instruments. May include a combination of the type of instrument, risks being hedged, notional amount, hedge designation, related hedged item, inception date, maturity date, or other relevant item.

+ References

No definition available.

+ Details

Name:	us-gaap_ScheduleOfDerivativeInstrumentsTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of derivative instrument not designated or qualifying as hedging instrument.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 815
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 4CC
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480434/815-10-50-4CC

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 815
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 4E
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480434/815-10-50-4E

Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 815
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 4A
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480434/815-10-50-4A

Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 815
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 4B
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480434/815-10-50-4B

+ Details

Name:	us-gaap_ScheduleOfOtherDerivativesNotDesignatedAsHedgingInstrumentsStatementsOfFinancialPerformanceAndFinancialPositionLocationTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration