v3.19.3
Assets and Liabilities with Recurring Fair Value Measurements Fair Value Hierarchy (Details) - USD ($)
$ in Millions
Sep. 30, 2019
Dec. 31, 2018
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Cash equivalents [1] $ 359 $ 168
Derivative Asset [2] 387 302
Effect of Netting and Allocation of Collateral [3],[4] (959) (1,221)
Total assets 746 470
Derivative Liability [2] 282 443
Effect of Netting and Allocation of Collateral, Liability [3],[4] (1,049) (1,268)
Total Liabilities 282 443
Fair Value, Inputs, Level 1 [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Cash equivalents [1] 359 168
Effect of Netting and Allocation of Collateral [3],[4] (679) (933)
Total assets 359 168
Effect of Netting and Allocation of Collateral, Liability [3],[4] (767) (932)
Total Liabilities 0 0
Fair Value, Inputs, Level 2 [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Cash equivalents [1] 0 0
Effect of Netting and Allocation of Collateral [3],[4] (257) (262)
Total assets 92 116
Effect of Netting and Allocation of Collateral, Liability [3],[4] (259) (310)
Total Liabilities 194 249
Fair Value, Inputs, Level 3 [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Cash equivalents [1] 0 0
Effect of Netting and Allocation of Collateral [3],[4] (23) (26)
Total assets 295 186
Effect of Netting and Allocation of Collateral, Liability [3],[4] (23) (26)
Total Liabilities 88 194
Future [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Derivative Asset 679 933
Derivative Liability 767 932
Future [Member] | Fair Value, Inputs, Level 1 [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Derivative Asset 679 933
Derivative Liability 767 932
Future [Member] | Fair Value, Inputs, Level 2 [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Derivative Asset 0 0
Derivative Liability 0 0
Future [Member] | Fair Value, Inputs, Level 3 [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Derivative Asset 0 0
Derivative Liability 0 0
Forward Contracts [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Derivative Asset [5] 661 550
Derivative Liability [5] 526 769
Forward Contracts [Member] | Fair Value, Inputs, Level 1 [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Derivative Asset [5] 0 0
Derivative Liability [5] 0 0
Forward Contracts [Member] | Fair Value, Inputs, Level 2 [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Derivative Asset [5] 343 338
Derivative Liability [5] 415 549
Forward Contracts [Member] | Fair Value, Inputs, Level 3 [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Derivative Asset [5] 318 212
Derivative Liability [5] 111 220
Interest Rate Hedging Instruments    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Derivative Asset 6 40
Derivative Liability 38 10
Interest Rate Hedging Instruments | Fair Value, Inputs, Level 1 [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Derivative Asset 0 0
Derivative Liability 0 0
Interest Rate Hedging Instruments | Fair Value, Inputs, Level 2 [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Derivative Asset 6 40
Derivative Liability 38 10
Interest Rate Hedging Instruments | Fair Value, Inputs, Level 3 [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Derivative Asset 0 0
Derivative Liability $ 0 $ 0
[1] At September 30, 2019 and December 31, 2018, we had cash equivalents of $187 million and $23 million included in cash and cash equivalents and $172 million and $145 million included in restricted cash, respectively.
[2] At September 30, 2019 and December 31, 2018, we had $116 million and $244 million, respectively, of collateral under master netting arrangements that were not offset against our derivative instruments on the Consolidated Condensed Balance Sheets primarily related to initial margin requirements.
[3] Cash collateral posted with (received from) counterparties allocated to level 1, level 2 and level 3 derivative instruments totaled $88 million, $2 million and nil, respectively, at September 30, 2019. Cash collateral posted with (received from) counterparties allocated to level 1, level 2 and level 3 derivative instruments totaled $(1) million, $48 million and nil, respectively, at December 31, 2018.
[4] We offset fair value amounts recognized for derivative instruments executed with the same counterparty under a master netting arrangement for financial statement presentation; therefore, amounts recognized for the right to reclaim, or the obligation to return, cash collateral are presented net with the corresponding derivative instrument fair values. See Note 8 for further discussion of our derivative instruments subject to master netting arrangements.
[5] Includes OTC swaps and options.