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Fair Value Measures (Tables)
9 Months Ended
Sep. 30, 2013
Fair Value Measures [Abstract]  
FV of Partnership's Derivative Assets and Liabilities
The following table presents the Partnership’s derivative assets and liabilities measured at fair value on a recurring basis:
 
Fair Value Measurements at September 30, 2013
 
Fair Value Measurements at December 31, 2012
 
Fair Value Total
 
Significant
Observable
Inputs
(Level 2)
 
Unobservable
Inputs
(Level 3)
 
Fair Value Total
 
Significant
Observable
Inputs
(Level 2)
 
Unobservable
Inputs
(Level 3)
Assets
 
 
 
 
 
 
 
 
 
 
 
Commodity Derivatives:
 
 
 
 
 
 
 
 
 
 
 
Natural Gas
$
6

 
$
6

 
$

 
$
2

 
$
2

 
$

NGLs
1

 
1

 

 
1

 
1

 

Condensate

 

 

 
2

 
2

 

Total Assets
$
7

 
$
7

 
$

 
$
5

 
$
5

 
$

Liabilities
 
 
 
 
 
 
 
 
 
 
 
Commodity Derivatives:
 
 
 
 
 
 
 
 
 
 
 
Natural Gas
$
1

 
$
1

 
$

 
$
5

 
$
5

 
$

NGLs
2

 
2

 

 
1

 
1

 

Condensate
2

 
2

 

 

 

 

Embedded derivatives in Series A preferred units
23

 

 
23

 
25

 

 
25

Total Liabilities
$
28

 
$
5

 
$
23

 
$
31

 
$
6

 
$
25

Significant Unobservable Inputs for FV Estimation of Embedded Derivatives
The following table presents the material unobservable inputs used to estimate the fair value of the embedded derivatives in the Series A preferred units:
Unobservable Input
 
September 30, 2013
Credit Spread
 
6.39
%
Volatility
 
19.96
%
Valuation Changes in Level 3 Derivatives
The following table presents the changes in Level 3 derivatives measured on a recurring basis for the nine months ended September 30, 2013. There were no transfers between the fair value hierarchy levels for the nine months ended September 30, 2013.
 
Embedded Derivatives in Series A Preferred Units
Net liability balance at December 31, 2012
$
25

Change in fair value, net of gain at conversion of $26 million
(2
)
Net liability balance at September 30, 2013
$
23