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Fair Value Measurements and Guarantees (Tables)
 9 Months Ended
Sep. 30, 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, 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 September 30, 2019:
 
 
 
 
 
 
 
 
 
 
Measured on a recurring basis:
 
 
 
 
 
 
 
 
 
 
ARO Trust investments
 
$
187

 
$
187

 
$
187

 
$
—

 
$
—

Energy derivatives assets not designated as hedging instruments
 
4

 
4

 
4

 
—

 
—

Energy derivatives liabilities not designated as hedging instruments
 
(5
)
 
(5
)
 
(2
)
 
—

 
(3
)
Additional disclosures:
 
 
 
 
 
 
 
 
 
 
Long-term debt, including current portion
 
(22,257
)
 
(25,234
)
 
—

 
(25,234
)
 
—

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, except as specifically noted.
 
 
 
 
 
 
 
 
Impairments
 
 
 
 
 
 
 
 
Nine Months Ended 
 September 30,
 
 
Segment
 
Date of Measurement
 
Fair Value
 
2019
 
2018
 
 
 
 
 
 
(Millions)
Impairment of certain assets:
 
 
 
 
 
 
 
 
 
 
Certain gathering assets (1)
 
West
 
June 30, 2019
 
$
40

 
$
59

 
 
Certain idle gathering assets (2)
 
West
 
March 31, 2019
 
—

 
12

 
 
Certain idle pipeline assets (3)
 
Other
 
June 30, 2018
 
25

 

 
$
66

Other impairments and write-downs
 
 
 
 
 
 
 
5

 
—

Impairment of certain assets
 
 
 
 
 
 
 
$
76

 
$
66

Impairment of equity-method investments:
 
 
 
 
 
 
 
 
 
 
Laurel Mountain (4)
 
Northeast G&P
 
September 30, 2019
 
$
242

 
$
79

 
 
Appalachia Midstream Investments (5)
 
Northeast G&P
 
September 30, 2019
 
102

 
17

 
 
Pennant (6)
 
Northeast G&P
 
August 31, 2019
 
11

 
17

 
 
UEOM (7)
 
Northeast G&P
 
March 17, 2019
 
1,210

 
74

 
 
Other
 
 
 
 
 
 
 
(1
)
 
 
Impairment of equity-method investments
 
 
 
 
 
 
 
$
186

 
 
_______________
(1)
Relates to a gas gathering system in the Eagle Ford region with expected declines in asset utilization and possible idling of the gathering system. The estimated fair value of the Property, plant, and equipment – net was determined using a market approach which incorporated indications of interest from third parties.

(2)
Reflects impairment of Property, plant, and equipment – net that is no longer in use for which the fair value was determined to be lower than the carrying value.

(3)
Relates to certain idle pipelines. The estimated fair value of the Property, plant, and equipment – net was determined by a market approach incorporating information derived from bids received for these assets, which we marketed for sale together with certain other assets. These inputs resulted in a fair value measurement within Level 2 of the fair value hierarchy. We sold these assets in the fourth quarter of 2018.

(4)
Relates to a gas gathering system in the Marcellus region that was adversely impacted by lower sustained forward natural gas price expectations and changes in expected producer activity. The estimated fair value was determined using an income approach. We utilized a discount rate of 10.2 percent in our analysis. This impairment is reported in Other investing income (loss) – net in the Consolidated Statement of Income.

(5)
Relates to a certain gathering system held in Appalachia Midstream Investments that was adversely impacted by changes in the timing of expected producer activity. The estimated fair value was determined using an income approach. We utilized a discount rate of 9.0 percent in our analysis. This impairment is reported in Other investing income (loss) – net in the Consolidated Statement of Income.

(6)
The estimated fair value of Pennant Midstream, LLC (“Pennant”) was determined by a market approach based on recent observable third-party transactions. These inputs resulted in a fair value measurement within Level 2 of the fair value hierarchy. This impairment is reported in Other investing income (loss) – net in the Consolidated Statement of Income.

(7)
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). These inputs resulted in a fair value measurement within Level 2 of the fair value hierarchy. This impairment is reported in Other investing income (loss) - net in the Consolidated Statement of Income.