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Fair Value Measurements and Guarantees (Tables)
 3 Months Ended
Mar. 31, 2019
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, margin deposits, 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, 2019:
 
 
 
 
 
 
 
 
 
 
Measured on a recurring basis:
 
 
 
 
 
 
 
 
 
 
ARO Trust investments
 
$
173

 
$
173

 
$
173

 
$
—

 
$
—

Energy derivatives assets not designated as hedging instruments
 
2

 
2

 
2

 
—

 
—

Energy derivatives liabilities not designated as hedging instruments
 
(9
)
 
(9
)
 
(6
)
 
—

 
(3
)
Additional disclosures:
 
 
 
 
 
 
 
 
 
 
Long-term debt, including current portion
 
(22,264
)
 
(24,449
)
 
—

 
(24,449
)
 
—

Guarantees
 
(42
)
 
(29
)
 
—

 
(13
)
 
(16
)
 
 
 
 
 
 
 
 
 
 
 
Assets (liabilities) at December 31, 2018:
 
 
 
 
 
 
 
 
 
 
Measured on a recurring basis:
 
 
 
 
 
 
 
 
 
 
ARO Trust investments
 
$
150

 
$
150

 
$
150

 
$
—

 
$
—

Energy derivatives assets not designated as hedging instruments
 
3

 
3

 
3

 
—

 
—

Energy derivatives liabilities not designated as hedging instruments
 
(7
)
 
(7
)
 
(4
)
 
—

 
(3
)
Additional disclosures:
 
 
 
 
 
 
 
 
 
 
Long-term debt, including current portion
 
(22,414
)
 
(23,330
)
 
—

 
(23,330
)
 
—

Guarantees
 
(43
)
 
(30
)
 
—

 
(14
)
 
(16
)
Fair Value Measurements, Nonrecurring [Table Text Block]
The following table presents impairments of assets and equity-method 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
 
2019
 
2018
 
 
 
 
 
 
 
(Millions)
Impairment of assets (1)
Property, plant, and equipment – net
 
West
 
March 31, 2019
 
$
—

 
$
12

 
 
 
 
 
 
 
 
 
 
 
 
 
 
Equity-method investments (2)
Investments
 
Northeast G&P
 
March 17, 2019
 
$
1,209

 
$
74

 
 
_______________
(1)
Reflects impairment of assets that are no longer in use for which the fair value was determined to be lower than the carrying value. This impairment is reported in Other (income) expense – net within Costs and expenses in the Consolidated Statement of Income.

(2)
Relates to Northeast G&P’s equity-method investment in UEOM. The estimated fair value was determined by a market approach based on the transaction price for the purchase of the remaining interest in UEOM as finalized just prior to the signing and closing of the acquisition in March 2019 (see Note 2 – Acquisitions). This impairment is reported in Impairment of equity-method investments in the Consolidated Statement of Income.