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FAIR VALUE MEASUREMENTS (Tables) | 12 Months Ended
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Dec. 31, 2020
Fair Value Disclosures [Abstract] |
Assets and liabilities measured at fair value on a recurring basis | The following tables provide fair value measurement information for assets and liabilities that are measured on a recurring basis:
millions |  | Fair Value Measurements Using |  | Netting and Collateral |  | Total Fair Value
Embedded derivatives |  | Level 1 |  | Level 2 |  | Level 3 |  |
December 31, 2020 |  |  |  |  |  |  |  |  |  |
Accrued liabilities |  | $ | — |  |  | $ | 64 |  |  | $ | — |  |  | $ | — |  |  | $ | 64 |
December 31, 2019 |  |  |  |  |  |  |  |  |  |
Accrued liabilities |  | $ | — |  |  | $ | 40 |  |  | $ | — |  |  | $ | — |  |  | $ | 40 |
Deferred credits and other liabilities - other |  | $ | — |  |  | $ | 49 |  |  | $ | — |  |  | $ | — |  |  | $ | 49 |
Significant impairment and other charges measured on nonrecurring basis | The table below summarizes the significant impairments and other charges incurred to measure assets to their fair value on a nonrecurring basis throughout the year ended December 31, 2020:
millions |  | Total Fair Value
Asset impairments and other charges |  |
Goodwill |  | $ | 1,153 |
Oil and gas properties - proved |  | $ | 2,436 |
Oil and gas properties - unproved |  | $ | 4,591 |
Oil and gas properties - discontinued operations |  | $ | 2,191 |
WES equity investment |  | $ | 2,673 |

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- Definition Tabular disclosure of assets and liabilities by class, including financial instruments measured at fair value that are classified in shareholders' equity, if any, that are measured at fair value on a nonrecurring basis in periods after initial recognition (for example, impaired assets). Disclosures may include, but are not limited to: (a) the fair value measurements recorded and the reasons for the measurements and (b) the level within the fair value hierarchy in which the fair value measurements are categorized in their entirety (levels 1, 2, 3). + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (bbb) -URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258 + Details
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- Definition Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258 + Details
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