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Fair Value Measurement (Tables)
3 Months Ended
Mar. 31, 2020
Fair Value Disclosures [Abstract]  
Details of Impairment of Long-Lived Assets Held and Used by Asset
Fair Value Measurements Using Inputs Considered as
Net Carrying ValueLevel 1Level 2Level 3Asset Impairments
(millions)
Long-lived assets$96  $—  $—  $96  $587  
Goodwill—  —  —  —  159  
Direct investment in unconsolidated affiliate256  —  —  256  61  
Total impairments$352  $—  $—  $352  $807  
Fair Value, Assets and Liabilities Measured on Nonrecurring Basis, Valuation Techniques
March 31, 2020
Asset GroupsValuation TechniquesUnobservable InputsRange (low-high) (a)Average (b)
Long-lived assets, investment in unconsolidated affiliate, goodwillDiscounted cash flowOil prices
$34.52 - $67.61
$55.98  Per barrel
Natural gas prices
$2.28 - $4.12
$3.35  Per MMBtu
NGL prices
$0.30 - $0.62
$0.52  Per gallon
Discount rate14%14%
Terminal value multiple8x8x
GoodwillMarket comparable companiesEBITDA multiple
5.2x - 16.5x
8x
Financial Instruments Carried at Fair Value
 March 31, 2020December 31, 2019
 Level 1Level 2Level 3Total
Carrying
Value
Level 1Level 2Level 3Total
Carrying
Value
 (millions)
Current assets:
Commodity derivatives$233  $11  $ $252  $13  $15  $ $32  
Long-term assets:
Commodity derivatives$47  $ $ $53  $ $ $—  $ 
Current liabilities:
Commodity derivatives$(169) $(20) $(3) $(192) $(15) $(42) $(1) $(58) 
Long-term liabilities:
Commodity derivatives$(34) $(11) $(1) $(46) $(2) $(15) $(3) $(20) 
Fair Value Assets and Liabilities Measured On Recurring Basis Unobservable Input Reconciliation
 Commodity Derivative Instruments
 Current
Assets
Long-Term
Assets
Current
Liabilities
Long-Term
Liabilities
 (millions)
Three months ended March 31, 2020 (a):
Beginning balance$ $—  $(1) $(3) 
Net unrealized gains included in earnings    
Settlements(4) —  (7) —  
Ending balance$ $ $(3) $(1) 
Three months ended March 31, 2019 (a):
Beginning balance$14  $ $—  $(2) 
Net unrealized (losses) gains included in earnings(4) (1) (2)  
Transfers out of Level 3(2) —  —  —  
Settlements(3) —   —  
Ending balance$ $ $(1) $(1) 
(a)There were no purchases, issuances or sales of derivatives or transfers into Level 3 for the three months ended March 31, 2020 and 2019.
Schedule of Valuation Processes
March 31, 2020
Product GroupFair ValueValuation TechniquesUnobservable InputForward
Curve Range
Weighted Average (a) 
 (millions) 
Assets
NGLs$ Market approachLonger dated forward curve prices
$0.11-$0.47
$0.33Per gallon
Liabilities
NGLs$(3) Market approachLonger dated forward curve prices
$0.10-$0.53
$0.27Per gallon
Natural gas$(1) Market approachLonger dated forward curve prices
$1.63-$2.50
$1.99Per MMBtu
Schedule of Carrying Values and Estimated Fair Values of Debt Instruments [Table Text Block] March 31, 2020 and December 31, 2019, the carrying value and fair value of our total debt, including current maturities, were as follows:
 March 31, 2020December 31, 2019
 Carrying Value (a)Fair ValueCarrying Value (a)Fair Value
 (millions)
Total debt  $5,936  $4,252  $5,936  $6,130  
(a) Excludes unamortized issuance costs and finance lease liabilities.