XML 56 R43.htm IDEA: XBRL DOCUMENT v3.23.3
Fair Value Measurements (Tables)
 9 Months Ended
Sep. 30, 2023
Fair Value Disclosures [Abstract]  
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis
The following tables present assets and liabilities accounted for at fair value on a recurring basis as of September 30, 2023 and December 31, 2022 by hierarchy level.
September 30, 2023
(In millions)Level 1Level 2Level 3Total
Derivative instruments, assets
Commodity(a)
$— $3 $— $3 
Interest rate - designated as cash flow hedges — 25 — 25 
Derivative instruments, assets$— $28 $— $28 
 December 31, 2022
(In millions)Level 1Level 2Level 3Total
Derivative instruments, assets
Commodity(a)
$— $10 $— $10 
Interest rate - designated as cash flow hedges— 24 — 24 
Derivative instruments, assets$— $34 $— $34 
(a)Commodity derivative instruments are recorded on a net basis in our consolidated balance sheet. See Note 12.
Schedule of Fair Value, by Balance Sheet Grouping
The following table summarizes financial instruments, excluding receivables, commercial paper borrowings, payables and derivative financial instruments, and their reported fair values by individual balance sheet line item at September 30, 2023 and December 31, 2022.
September 30, 2023December 31, 2022
(In millions)Fair ValueCarrying AmountFair ValueCarrying Amount
Financial assets    
Other noncurrent assets$9 $27 $10 $28 
Total financial assets$9 $27 $10 $28 
Financial liabilities    
Other current liabilities$132 $198 $140 $204 
Long-term debt, including current portion(a)
5,126 5,297 5,806 5,948 
Deferred credits and other liabilities45 45 73 73 
Total financial liabilities$5,303 $5,540 $6,019 $6,225 
(a)Excludes debt issuance costs.