XML 83 R68.htm IDEA: XBRL DOCUMENT v3.25.1
Fair Value Measurements - Schedule of Fair Value of Derivative Assets and Liabilities and Effect of Counterparty Netting (Details) - USD ($)
$ in Millions
Mar. 31, 2025
Dec. 31, 2024
Assets    
Total Fair Value of Gross Assets & Liabilities $ 3,399 $ 2,473
Effect of Counterparty Netting (3,131) (2,118)
Effect of Collateral Netting 0 0
Difference in Carrying Value and Fair Value 0 0
Net Carrying Value Presented on the Balance Sheet 268 355
Liabilities    
Total fair value gross liabilities 20,860 20,892
Effect of Counterparty Netting (3,131) (2,118)
Effect of Collateral Netting (121) (62)
Difference in Carrying Value and Fair Value 890 1,020
Net Carrying Value Presented on the Balance Sheet 18,498 19,732
Foreign Exchange Contract    
Assets    
Foreign currency derivative   67
Difference in Carrying Value and Fair Value   0
Exchange-cleared instruments | Commodity derivatives    
Assets    
Commodity Derivative Assets 3,141 2,137
Effect of Counterparty Netting (3,126) (2,111)
Effect of Collateral Netting 0 0
Difference in Carrying Value and Fair Value 0 0
Net Carrying Value Presented on the Balance Sheet 15 26
Liabilities    
Commodity Derivative Liabilities 3,247 2,173
Effect of Counterparty Netting (3,126) (2,111)
Effect of Collateral Netting (121) (62)
Difference in Carrying Value and Fair Value 0 0
Net Carrying Value Presented on the Balance Sheet 0 0
OTC instruments | Commodity derivatives    
Assets    
Commodity Derivative Assets   7
Effect of Counterparty Netting   0
Effect of Collateral Netting   0
Difference in Carrying Value and Fair Value   0
Net Carrying Value Presented on the Balance Sheet   7
Physical forward contracts | Commodity derivatives    
Assets    
Commodity Derivative Assets 89 73
Effect of Counterparty Netting (5) (7)
Effect of Collateral Netting 0 0
Difference in Carrying Value and Fair Value 0 0
Net Carrying Value Presented on the Balance Sheet 84 66
Liabilities    
Commodity Derivative Liabilities 73 46
Effect of Counterparty Netting (5) (7)
Effect of Collateral Netting 0 0
Difference in Carrying Value and Fair Value 0 0
Net Carrying Value Presented on the Balance Sheet 68 39
Level 1    
Assets    
Total Fair Value of Gross Assets & Liabilities 3,310 2,326
Liabilities    
Total fair value gross liabilities 3,247 2,173
Level 1 | Foreign Exchange Contract    
Assets    
Foreign currency derivative   0
Level 1 | Exchange-cleared instruments | Commodity derivatives    
Assets    
Commodity Derivative Assets 3,141 2,137
Liabilities    
Commodity Derivative Liabilities 3,247 2,173
Level 1 | OTC instruments | Commodity derivatives    
Assets    
Commodity Derivative Assets   0
Level 1 | Physical forward contracts | Commodity derivatives    
Assets    
Commodity Derivative Assets 0 0
Liabilities    
Commodity Derivative Liabilities 0 0
Level 2    
Assets    
Total Fair Value of Gross Assets & Liabilities 85 144
Liabilities    
Total fair value gross liabilities 17,612 18,718
Level 2 | Foreign Exchange Contract    
Assets    
Foreign currency derivative   67
Level 2 | Exchange-cleared instruments | Commodity derivatives    
Assets    
Commodity Derivative Assets 0 0
Liabilities    
Commodity Derivative Liabilities 0 0
Level 2 | OTC instruments | Commodity derivatives    
Assets    
Commodity Derivative Assets   7
Level 2 | Physical forward contracts | Commodity derivatives    
Assets    
Commodity Derivative Assets 85 70
Liabilities    
Commodity Derivative Liabilities 72 45
Level 3    
Assets    
Total Fair Value of Gross Assets & Liabilities 4 3
Liabilities    
Total fair value gross liabilities 1 1
Level 3 | Foreign Exchange Contract    
Assets    
Foreign currency derivative   0
Level 3 | Exchange-cleared instruments | Commodity derivatives    
Assets    
Commodity Derivative Assets 0 0
Liabilities    
Commodity Derivative Liabilities 0 0
Level 3 | OTC instruments | Commodity derivatives    
Assets    
Commodity Derivative Assets   0
Level 3 | Physical forward contracts | Commodity derivatives    
Assets    
Commodity Derivative Assets 4 3
Liabilities    
Commodity Derivative Liabilities 1 1
Rabbi trust assets    
Assets    
Investments in Rabbi trust assets and in NOVONIX 143 153
Difference in Carrying Value and Fair Value 0 0
Rabbi trust assets | Level 1    
Assets    
Investments in Rabbi trust assets and in NOVONIX 143 153
Rabbi trust assets | Level 2    
Assets    
Investments in Rabbi trust assets and in NOVONIX 0 0
Rabbi trust assets | Level 3    
Assets    
Investments in Rabbi trust assets and in NOVONIX 0 0
Investment in NOVONIX    
Assets    
Investments in Rabbi trust assets and in NOVONIX 26 36
Difference in Carrying Value and Fair Value 0 0
Investment in NOVONIX | Level 1    
Assets    
Investments in Rabbi trust assets and in NOVONIX 26 36
Investment in NOVONIX | Level 2    
Assets    
Investments in Rabbi trust assets and in NOVONIX 0 0
Investment in NOVONIX | Level 3    
Assets    
Investments in Rabbi trust assets and in NOVONIX 0 0
Floating-rate debt    
Liabilities    
Debt 550 1,760
Difference in Carrying Value and Fair Value 0 0
Floating-rate debt | Net Carrying Value Presented on the Balance Sheet    
Liabilities    
Debt 550 1,760
Floating-rate debt | Level 1    
Liabilities    
Debt 0 0
Floating-rate debt | Level 2    
Liabilities    
Debt 550 1,760
Floating-rate debt | Level 3    
Liabilities    
Debt 0 0
Fixed-rate debt, excluding finance leases and software obligations    
Liabilities    
Debt 16,990 16,913
Difference in Carrying Value and Fair Value 890 1,020
Fixed-rate debt, excluding finance leases and software obligations | Net Carrying Value Presented on the Balance Sheet    
Liabilities    
Debt 17,880 17,933
Fixed-rate debt, excluding finance leases and software obligations | Level 1    
Liabilities    
Debt 0 0
Fixed-rate debt, excluding finance leases and software obligations | Level 2    
Liabilities    
Debt 16,990 16,913
Fixed-rate debt, excluding finance leases and software obligations | Level 3    
Liabilities    
Debt $ 0 $ 0