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Derivatives and Financial Instruments (Tables) | 6 Months Ended
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Jun. 30, 2016
Derivative Instruments and Hedging Activities Disclosure [Abstract] |
Summary of Fair Value of Commodity Derivative Assets and Liabilities and Gains (Losses) from Derivative Contracts | The following table indicates the balance sheet line items that include the fair values of commodity derivative assets and liabilities presented net (i.e., commodity derivative assets and liabilities with the same counterparty are netted where the right of setoff exists); however, the balances in the following table are presented gross. For information on the impact of counterparty netting and collateral netting, see Note 13—Fair Value Measurements.
| Millions of Dollars
| June 30 2016 |  |  | December 31 2015 |
Assets |  |  |
Prepaid expenses and other current assets | $ | 612 |  |  | 2,607 |
Other assets | 20 |  |  | 5 |
Liabilities |  |  |
Other accruals | 637 |  |  | 2,425 |
Other liabilities and deferred credits | 17 |  |  | 5 |
Hedge accounting has not been used for any item in the table. The recognized gains (losses) incurred from commodity derivatives, and the line items where they appear on our consolidated statement of income, were:
| Millions of Dollars
| Three Months Ended June 30 |  | Six Months Ended June 30
| 2016 |  | 2015 |  |  | 2016 |  | 2015 |
Sales and other operating revenues | $ | (182 | ) | (143 | ) |  | (268 | ) | (174 | )
Other income | 7 |  | 4 |  |  | 16 |  | 47 |
Purchased crude oil and products | (89 | ) | (71 | ) |  | (125 | ) | (51 | )
Hedge accounting has not been used for any item in the table.
Summary of Material Net Exposures and Notional Amount of Derivative Contracts |
| Open Position Long/(Short)
| June 30 2016 |  |  | December 31 2015 |
Commodity |  |  |
Crude oil, refined products and NGL (millions of barrels) | (35 | ) |  | (17 | )

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- Definition Tabular disclosure of the notional amounts of outstanding derivative positions. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 1A -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=56946850&loc=SL5579245-113959 + Details
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- Definition Tabular disclosure of price risk derivatives, including, but not limited to, the fair value of the derivatives, statement of financial position location, and statement of financial performance location of these instruments. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4C -URI http://asc.fasb.org/extlink&oid=56946850&loc=SL5624171-113959 + Details
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