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Derivative Financial Instruments (Tables) | 6 Months Ended
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Jun. 30, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract] |
Derivative Instruments, Gain (Loss) | The effect of derivatives in our consolidated statements of operations is shown in the table below.
| Gain (loss) recognized in income
|  |  | Three months ended June 30, |  | Six months ended June 30,
| Location |  | 2024 |  | 2023 |  | 2024 |  | 2023 |  |
|  |  | (in millions)
Unrealized net gains on natural gas derivatives | Cost of sales |  | $ | 1 |  |  | $ | — |  |  | $ | 34 |  |  | $ | 72 |  |  |
Realized net losses on natural gas derivatives | Cost of sales |  | (1) |  |  | — |  |  | (38) |  |  | (118) |  |  |
Net derivative losses |  |  | $ | — |  |  | $ | — |  |  | $ | (4) |  |  | $ | (46) |  |  |
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value | The fair values of derivatives on our consolidated balance sheets are shown below. As of June 30, 2024 and December 31, 2023, none of our derivative instruments were designated as hedging instruments. See Note 9—Fair Value Measurements for additional information on derivative fair values.
| Asset Derivatives |  | Liability Derivatives
| Balance Sheet Location |  | June 30, 2024 |  | December 31, 2023 |  | Balance Sheet Location |  | June 30, 2024 |  | December 31, 2023
|  |  | (in millions) |  |  |  | (in millions)
Natural gas derivatives | Other current assets |  | $ | 2 |  |  | $ | 1 |  |  | Other current liabilities |  | $ | (2) |  |  | $ | (35) |
Offsetting Liabilities | The following table presents amounts relevant to offsetting of our derivative assets and liabilities as of June 30, 2024 and December 31, 2023:
| Amounts presented in consolidated balance sheets(1) |  | Gross amounts not offset in consolidated balance sheets |  |
|  | Financial instruments |  | Cash collateral received (pledged) |  | Net amount
| (in millions)
June 30, 2024 |  |  |  |  |  |  |
Total derivative assets | $ | 2 |  |  | $ | — |  |  | $ | — |  |  | $ | 2 |
Total derivative liabilities | (2) |  |  | — |  |  | — |  |  | (2) |
Net derivative liabilities | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
December 31, 2023 |  |  |  |  |  |  |
Total derivative assets | $ | 1 |  |  | $ | — |  |  | $ | — |  |  | $ | 1 |
Total derivative liabilities | (35) |  |  | — |  |  | — |  |  | (35) |
Net derivative liabilities | $ | (34) |  |  | $ | — |  |  | $ | — |  |  | $ | (34) |
_______________________________________________________________________________ (1)We report the fair values of our derivative assets and liabilities on a gross basis on our consolidated balance sheets. As a result, the gross amounts recognized and net amounts presented are the same.
Offsetting Assets | The following table presents amounts relevant to offsetting of our derivative assets and liabilities as of June 30, 2024 and December 31, 2023:
| Amounts presented in consolidated balance sheets(1) |  | Gross amounts not offset in consolidated balance sheets |  |
|  | Financial instruments |  | Cash collateral received (pledged) |  | Net amount
| (in millions)
June 30, 2024 |  |  |  |  |  |  |
Total derivative assets | $ | 2 |  |  | $ | — |  |  | $ | — |  |  | $ | 2 |
Total derivative liabilities | (2) |  |  | — |  |  | — |  |  | (2) |
Net derivative liabilities | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
December 31, 2023 |  |  |  |  |  |  |
Total derivative assets | $ | 1 |  |  | $ | — |  |  | $ | — |  |  | $ | 1 |
Total derivative liabilities | (35) |  |  | — |  |  | — |  |  | (35) |
Net derivative liabilities | $ | (34) |  |  | $ | — |  |  | $ | — |  |  | $ | (34) |
_______________________________________________________________________________ (1)We report the fair values of our derivative assets and liabilities on a gross basis on our consolidated balance sheets. As a result, the gross amounts recognized and net amounts presented are the same.

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