Financial Risk Management (Tables)

6 Months Ended

Jun. 30, 2015

Derivative Instruments And Hedging Activities Disclosure [Abstract]

Gross Notional Volumes of Corporation's Derivative Contracts Outstanding

The gross notional volumes of Corporate risk management derivative contracts outstanding were as follows:

	June 30,		December 31,
	2015		2014
Commodity, primarily crude oil (millions of barrels)		13		—
Foreign exchange (millions of USD)	$	947	$	1,189
Interest rate swaps (millions of USD)	$	1,300	$	1,300

Netting Arrangements on Physical and Financial Derivative Assets and (Liabilities)

Fair Value Measurements:The following table provides information about the effect of netting arrangements on the presentation of the Corporation’s physical and financial derivative assets and (liabilities) that are measured at fair value, with the effect of single counterparty multilateral netting being included in column (v):

				Gross Amounts Offset
				in the Consolidated
				Balance Sheet
				Physical					Net Amounts			Gross Amounts
				Derivative					Presented in			Not Offset in
				and					the			the
	Gross			Financial			Cash		Consolidated			Consolidated		Net
	Amounts			Instruments			Collateral		BalanceSheet			BalanceSheet		Amounts
	(i)			(ii)			(iii)		(iv)=(i)+(ii)+(iii)			(v)		(vi)=(iv)+(v)
	(In millions)
June 30, 2015
Assets
Derivative contracts
Commodity	$	33		$	(8	)	$	—	$	25		$	—	$	25
Interest rate and other		7			(4	)		—		3			—		3
Counterparty netting		—			—			—		—			—		—
Total derivative contracts	$	40		$	(12	)	$	—	$	28		$	—	$	28
Liabilities
Derivative contracts
Commodity	$	(11	)	$	8		$	—	$	(3	)	$	—	$	(3	)
Other		(10	)		4			—		(6	)		—		(6	)
Counterparty netting		—			—			—		—			—		—
Total derivative contracts	$	(21	)	$	12		$	—	$	(9	)	$	—	$	(9	)

Gross and Net Fair Values of Corporate and Trading Derivative Instruments

The table below reflects the gross and net fair values of risk management derivative instruments:

	Accounts			Accounts
	Receivable			Payable
	(In millions)
June 30, 2015
Derivative contracts designated as hedging instruments
Commodity	$	25		$	—
Interest rate and other		2			—
Total derivative contracts designated as hedging instruments		27			—
Derivative contracts not designated as hedging instruments
Commodity		8			(11	)
Foreign exchange		5			(10	)
Total derivative contracts not designated as hedging instruments		13			(21	)
Gross fair value of derivative contracts		40			(21	)
Master netting arrangements		(12	)		12
Net fair value of derivative contracts	$	28		$	(9	)