Derivatives (Tables)

9 Months Ended

Sep. 30, 2022

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Derivative Instruments

At September 30, 2022, the notional volume of the net long (short) positions for our commodity-related derivative contracts were as follows:

	Commodity	Unit of Measure	Net Long (Short) Position
Index Risk	Natural Gas	MMBtu	485,699,255
Central Hub Risk - Henry Hub	Natural Gas	MMBtu	(58,780,281)
Basis Risk	Natural Gas	MMBtu	(60,614,348)
Central Hub Risk - Mont Belvieu	Natural Gas Liquids	Barrels	(52,710,000)
Basis Risk	Natural Gas Liquids	Barrels	(2,520,000)
Central Hub Risk - WTI	Crude Oil	Barrels	(216,000)

Schedule of Derivatives Instruments Statements of Financial Performance and Financial Position, Location

The fair value of commodity-related derivatives, which are not designated as hedging instruments for accounting purposes, was reflected as follows:

	September 30, 2022				December 31, 2021
Derivative Category	Assets		(Liabilities)		Assets		(Liabilities)
	(Millions)
Current	$	1,144	$	(1,475)	$	619	$	(760)
Noncurrent	328		(717)		166		(429)
Total derivatives	$	1,472	$	(2,192)	$	785	$	(1,189)
Gross amounts recognized	$	1,472	$	(2,192)	$	785	$	(1,189)
Counterparty and collateral netting offset	(1,246)		1,456		(476)		772
Amounts recognized in our Consolidated Balance Sheet	$	226	$	(736)	$	309	$	(417)

Pretax Effect Of Interest Rate And Energy Related Derivatives

For the three and nine months ended September 30, 2022 and 2021 the pre-tax effects of commodity-related derivatives in Net gain (loss) on commodity derivatives reflected within Total revenues and Net processing commodity expenses in our Consolidated Statement of Income were as follows:

	Gain (Loss)
	Three Months Ended  September 30,				Nine Months Ended  September 30,
	2022		2021		2022		2021
	(Millions)
Realized commodity-related derivatives designated as hedging instruments	$	—	$	(20)	$	—	$	(28)
Realized commodity-related derivatives not designated as hedging instruments	(13)		(62)		(145)		(96)
Unrealized commodity-related derivatives not designated as hedging instruments	29		(309)		(346)		(317)
Net gain (loss) on commodity derivatives	$	16	$	(391)	$	(491)	$	(441)
Realized commodity-related derivatives not designated as hedging instruments in Net processing commodity expenses	$	6	$	1	$	12	$	1
Unrealized commodity-related derivatives not designated as hedging instruments in Net processing commodity expenses	$	6	$	—	$	17	$	—