Fair Value Measurements (Tables)

9 Months Ended

Sep. 30, 2020

Fair Value, by Balance Sheet Grouping [Table Text Block]

The following tables summarize the gross fair value of our financial assets and liabilities measured and recorded at fair value on a recurring basis as of September 30, 2020 and December 31, 2019 based on inputs used to derive their fair values:


			Fair Value Measurements at September 30, 2020
	Fair Value Total		Level 1		Level 2
Assets:

Commodity derivatives:

Natural Gas:
Basis Swaps IFERC/NYMEX	$	13	$	13	$	—
Swing Swaps IFERC	2		—		2
Fixed Swaps/Futures	5		5		—


Forward Physical Contracts	6		—		6
Power:
Forwards	8		—		8
Futures	2		2		—
Options – Puts	—		—		—
Options – Calls	1		1		—
NGLs – Forwards/Swaps	103		103		—
Refined Products – Futures	5		5		—
Crude – Forwards/Swaps	2		2		—

Total commodity derivatives	147		131		16
Other non-current assets	31		20		11
Total assets	$	178	$	151	$	27
Liabilities:
Interest rate derivatives	$	(522)	$	—	$	(522)
Commodity derivatives:
Natural Gas:
Basis Swaps IFERC/NYMEX	(9)		(9)		—
Swing Swaps IFERC	(4)		(1)		(3)
Fixed Swaps/Futures	(29)		(29)		—



Power:
Forwards	(3)		—		(3)
Futures	(2)		(2)		—


NGLs – Forwards/Swaps	(153)		(153)		—
Refined Products – Futures	(4)		(4)		—

Total commodity derivatives	(204)		(198)		(6)
Total liabilities	$	(726)	$	(198)	$	(528)


			Fair Value Measurements at December 31, 2019
	Fair Value Total		Level 1		Level 2
Assets:

Commodity derivatives:

Natural Gas:
Basis Swaps IFERC/NYMEX	$	17	$	17	$	—
Swing Swaps IFERC	1		—		1
Fixed Swaps/Futures	65		65		—


Forward Physical Contracts	3		—		3
Power:
Forwards	11		—		11
Futures	4		4		—
Options – Puts	1		1		—
Options – Calls	1		1		—
NGLs – Forwards/Swaps	260		260		—
Refined Products – Futures	8		8		—

Crude – Forwards/Swaps	13		13		—

Total commodity derivatives	384		369		15
Other non-current assets	31		20		11
Total assets	$	415	$	389	$	26
Liabilities:
Interest rate derivatives	$	(399)	$	—	$	(399)
Commodity derivatives:
Natural Gas:
Basis Swaps IFERC/NYMEX	(49)		(49)		—
Swing Swaps IFERC	(1)		—		(1)
Fixed Swaps/Futures	(43)		(43)		—



Power:
Forwards	(5)		—		(5)
Futures	(3)		(3)		—

NGLs – Forwards/Swaps	(278)		(278)		—
Refined Products – Futures	(10)		(10)		—



Total commodity derivatives	(389)		(383)		(6)
Total liabilities	$	(788)	$	(383)	$	(405)