Derivatives (Tables)

12 Months Ended

Dec. 31, 2022

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Derivative Instruments

At December 31, 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	745,415,032
Central Hub Risk - Henry Hub	Natural Gas	MMBtu	(46,154,200)
Basis Risk	Natural Gas	MMBtu	(50,737,802)
Central Hub Risk - Mont Belvieu	Natural Gas Liquids	Barrels	35,548
Basis Risk	Natural Gas Liquids	Barrels	(3,880,364)
Central Hub Risk - WTI	Crude Oil	Barrels	(123,250)

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:

	December 31, 2022				December 31, 2021
Derivative Category	Assets		(Liabilities)		Assets		(Liabilities)
	(Millions)
Current	$	1,099	$	(1,278)	$	619	$	(760)
Noncurrent	269		(734)		166		(429)
Total derivatives	$	1,368	$	(2,012)	$	785	$	(1,189)
Counterparty and collateral netting offset	(1,034)		1,236		(476)		772
Amounts recognized in our Consolidated Balance Sheet	$	334	$	(776)	$	309	$	(417)

Pretax Effect Of Interest Rate And Energy Related Derivatives

The pre-tax effects of commodity-related derivative instruments 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)
	Year Ended December 31,
	2022		2021		2020
	(Millions)
Realized commodity-related derivatives designated as hedging instruments	$	—	$	(55)	$	(2)
Realized commodity-related derivatives not designated as hedging instruments	(91)		16		(3)
Unrealized commodity-related derivatives not designated as hedging instruments	(296)		(109)		—
Net gain (loss) on commodity derivatives	$	(387)	$	(148)	$	(5)
Realized commodity-related derivatives not designated as hedging instruments in Net processing commodity expenses	$	16	$	2	$	1
Unrealized commodity-related derivatives not designated as hedging instruments in Net processing commodity expenses	$	47	$	—	$	—