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Fair Value Measurements and Guarantees (Tables)
 3 Months Ended
Mar. 31, 2017
Fair Value Disclosures [Abstract]  
Fair Value Assets and Liabilities Measured On Recurring Basis [Table Text Block]
The following table presents, by level within the fair value hierarchy, certain of our financial assets and liabilities. The carrying values of cash and cash equivalents, accounts receivable, commercial paper, and accounts payable approximate fair value because of the short-term nature of these instruments. Therefore, these assets and liabilities are not presented in the following table.
 
 
 
 
 
 
Fair Value Measurements Using
 
 
Carrying
Amount
 
Fair
Value
 
Quoted
Prices In
Active
Markets for
Identical
Assets
(Level 1)
 
Significant
Other
Observable
Inputs
(Level 2)
 
Significant
Unobservable
Inputs
(Level 3)
 
 
(Millions)
Assets (liabilities) at March 31, 2017:
 
 
 
 
 
 
 
 
 
 
Measured on a recurring basis:
 
 
 
 
 
 
 
 
 
 
ARO Trust investments
 
$
112

 
$
112

 
$
112

 
$
—

 
$
—

Energy derivatives assets designated as hedging instruments
 
5

 
5

 
5

 
—

 
—

Energy derivatives assets not designated as hedging instruments
 
2

 
2

 
1

 
—

 
1

Energy derivatives liabilities not designated as hedging instruments
 
(4
)
 
(4
)
 
—

 
—

 
(4
)
Additional disclosures:
 
 
 
 
 
 
 
 
 
 
Other receivables
 
5

 
5

 
5

 
—

 
—

Long-term debt
 
(21,825
)
 
(23,055
)
 
—

 
(23,055
)
 
—

Guarantees
 
(44
)
 
(31
)
 
—

 
(15
)
 
(16
)
 
 
 
 
 
 
 
 
 
 
 
Assets (liabilities) at December 31, 2016:
 
 
 
 
 
 
 
 
 
 
Measured on a recurring basis:
 
 
 
 
 
 
 
 
 
 
ARO Trust investments
 
$
96

 
$
96

 
$
96

 
$
—

 
$
—

Energy derivatives assets designated as hedging instruments
 
2

 
2

 
—

 
2

 
—

Energy derivatives assets not designated as hedging instruments
 
1

 
1

 
—

 
—

 
1

Energy derivatives liabilities not designated as hedging instruments
 
(6
)
 
(6
)
 
—

 
—

 
(6
)
Additional disclosures:
 
 
 
 
 
 
 
 
 
 
Other receivables
 
15

 
15

 
15

 
—

 
—

Long-term debt, including current portion
 
(23,409
)
 
(24,090
)
 
—

 
(24,090
)
 
—

Guarantees
 
(44
)
 
(30
)
 
—

 
(14
)
 
(16
)
Fair Value Measurements, Nonrecurring [Table Text Block]
Nonrecurring fair value measurements
The following table presents impairments of investments associated with certain nonrecurring fair value measurements within Level 3 of the fair value hierarchy.
 
 
 
 
 
 
 
 
 
Impairments
 
 
 
 
 
 
 
 
 
Three Months Ended March 31,
 
Classification
 
Segment
 
Date of Measurement
 
Fair Value
 
2017
 
2016
 
 
 
 
 
 
 
(Millions)
Equity-method investments (1)
Investments
 
Williams Partners
 
March 31, 2016
 
$
1,294

 
$
—

 
$
109

Other equity-method investment
Investments
 
Williams Partners
 
March 31, 2016
 
—

 
—

 
3

Impairment of equity-method investments
 
 
 
 
 
 
 
 
$
—

 
$
112

___________
(1)
Relates to equity-method investments in DBJV and Laurel Mountain. Our carrying values in these equity-method investments had been written down to fair value at December 31, 2015. Our first-quarter 2016 analysis reflected higher discount rates for both of these investments, along with lower natural gas prices for Laurel Mountain. We estimated the fair value of these investments using an income approach based on expected future cash flows and appropriate discount rates. The determination of estimated future cash flows involved significant assumptions regarding gathering volumes and related capital spending. Discount rates utilized ranged from 13.0 percent to 13.3 percent and reflected increases in our estimated cost of capital, revised estimates of expected future cash flows, and risks associated with the underlying businesses.