ACCUMULATED OTHER COMPREHENSIVE LOSS (Tables)

9 Months Ended

Sep. 30, 2023

Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]

The following table sets forth the balance in accumulated other comprehensive loss for the period indicated, net of tax:


	Risk- Management Assets/Liabilities		Retirement and Other Postretirement Benefit Plan Obligations (a)		Risk- Management Assets/Liabilities of Unconsolidated Affiliates		Accumulated Other Comprehensive Loss
	(Millions of dollars)
January 1, 2023	$	(58)	$	(55)	$	5	$	(108)
Other comprehensive income before reclassifications	86		—		—		86
Amounts reclassified to net income (b)	(44)		3		(5)		(46)
Other comprehensive income (loss)	42		3		(5)		40
September 30, 2023	$	(16)	$	(52)	$	—	$	(68)

(a) - Includes amounts related to supplemental executive retirement plan.

(b) - See Note E for details of amounts reclassified to net income for risk-management assets/liabilities.

Schedule of Accumulated Other Comprehensive Loss for Risk-Management Assets/Liabilities

The following table sets forth information about the balance of accumulated other comprehensive loss at September 30, 2023, representing unrealized gains (losses) related to risk-management assets and liabilities, net of tax:


	Risk- Management Assets/Liabilities
	(Millions of dollars)
Commodity derivative instruments expected to be realized within the next 27 months (a)	$	19
Settled interest-rate swaps and Treasury locks to be recognized over the life of the long-term, fixed-rate debt (b)	(35)

Accumulated other comprehensive loss at September 30, 2023	$	(16)

(a) - Based on commodity prices on September 30, 2023, we expect net gains of $19 million, net of tax, will be reclassified into earnings during the next 12 months. The remaining forecasted gains and losses have offsetting positions and are immaterial.

(b) - We expect net losses of $15 million, net of tax, will be reclassified into earnings during the next 12 months.