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Fair Value Measurements (Tables) | 6 Months Ended
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Jun. 30, 2019
Fair Value Disclosures [Abstract] |
Schedule of fair value measurement of financial assets (liabilities) measured at fair value on a recurring basis | The following table provides information for financial assets (liabilities) measured at fair value on a recurring basis as of June 30, 2019 and December 31, 2018:
|  | Quoted Prices in Active Markets (Level 1) |  | Significant Other Observable Inputs (Level 2) |  | Significant Unobservable Inputs (Level 3) |  | Total Fair Value
|  |  |  | ($ in millions) |  |
As of June 30, 2019 |  |  |  |  |  |  |  |
Derivative Assets (Liabilities): |  |  |  |  |  |  |  |
Commodity assets |  | $ | — |  |  | $ | 280 |  |  | $ | 34 |  |  | $ | 314 |
Commodity liabilities |  | — |  |  | (40 | ) |  | (12 | ) |  | (52 | )
Utica divestiture contingent consideration |  | — |  |  | — |  |  | — |  |  | — |
Total derivatives |  | $ | — |  |  | $ | 240 |  |  | $ | 22 |  |  | $ | 262 |
As of December 31, 2018 |  |  |  |  |  |  |  |
Derivative Assets (Liabilities): |  |  |  |  |  |  |  |
Commodity assets |  | $ | — |  |  | $ | 319 |  |  | $ | 103 |  |  | $ | 422 |
Commodity liabilities |  | — |  |  | (131 | ) |  | (16 | ) |  | (147 | )
Utica divestiture contingent consideration |  | — |  |  | — |  |  | 7 |  |  | 7 |
Total derivatives |  | $ | — |  |  | $ | 188 |  |  | $ | 94 |  |  | $ | 282 |
A summary of the changes in the fair values of our financial assets (liabilities) classified as Level 3 during the Current Period and the Prior Period is presented below:
|  | Commodity Derivatives |  | Utica Contingent Consideration
|  | ($ in millions)
Balance, as of January 1, 2019 |  | $ | 87 |  |  | $ | 7 |
Total gains (losses) (realized/unrealized): |  |  |  |
Included in earnings(a) |  | (64 | ) |  | (7 | )
Total purchases, issuances, sales and settlements: |  |  |  |
Settlements |  | (1 | ) |  | — |
Balance, as of June 30, 2019 |  | $ | 22 |  |  | $ | — |
Balance, as of January 1, 2018 |  | $ | (15 | ) |  | $ | — |
Total gains (losses) (realized/unrealized): |  |  |  |
Included in earnings(a) |  | (32 | ) |  | — |
Total purchases, issuances, sales and settlements: |  |  |  |
Settlements |  | 2 |  |  | — |
Balance, as of June 30, 2018 |  | $ | (45 | ) |  | $ | — |
___________________________________________
(a) |  |  | Commodity Derivatives |  | Utica Contingent Consideration
|  |  | 2019 |  | 2018 |  | 2019 |  | 2018
|  |  | ($ in millions)
| Total gains (losses) included in earnings for the period |  | $ | (64 | ) |  | $ | (32 | ) |  | $ | (7 | ) |  | $ | — |
| Change in unrealized gains (losses) related to assets still held at reporting date |  | $ | (66 | ) |  | $ | (30 | ) |  | $ | (7 | ) |  | $ | — |
The following table provides fair value measurement information for the above-noted financial assets (liabilities) measured at fair value on a recurring basis as of June 30, 2019 and December 31, 2018:
|  | Quoted Prices in Active Markets (Level 1) |  | Significant Other Observable Inputs (Level 2) |  | Significant Unobservable Inputs (Level 3) |  | Total Fair Value
|  | ($ in millions)
As of June 30, 2019 |  |  |  |  |  |  |  |
Financial Assets (Liabilities): |  |  |  |  |  |  |  |
Other current assets |  | $ | 44 |  |  | $ | — |  |  | $ | — |  |  | $ | 44 |
Other current liabilities |  | (45 | ) |  | — |  |  | — |  |  | (45 | )
Total |  | $ | (1 | ) |  | $ | — |  |  | $ | — |  |  | $ | (1 | )
As of December 31, 2018 |  |  |  |  |  |  |  |
Financial Assets (Liabilities): |  |  |  |  |  |  |  |
Other current assets |  | $ | 50 |  |  | $ | — |  |  | $ | — |  |  | $ | 50 |
Other current liabilities |  | (51 | ) |  | — |  |  | — |  |  | (51 | )
Total |  | $ | (1 | ) |  | $ | — |  |  | $ | — |  |  | $ | (1 | )

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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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