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Fair Value Measurements (Tables)
 12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Fair Value Disclosures [Abstract]    
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block]
The following tables set forth, by level, the Company’s assets and liabilities that were accounted for at fair value on a recurring basis as of December 31, 2020 and 2019.

 Fair Value Measurements at December 31, 2020
Quoted Prices in
Active Markets
for Identical
Assets
(Level 1)		Significant
Other
Observable
Inputs
(Level 2)		Significant
Unobservable
Inputs
(Level 3)		Total
  (In millions) 
Assets:    
Inventories carried at market$— $5,758 $2,183 $7,941 
Unrealized derivative gains:    
Commodity contracts— 1,905 859 2,764 
Foreign exchange contracts
— 283 — 283 
Interest rate contracts— 61 — 61 
Cash equivalents297 — — 297 
Marketable securities1 — — 1 
Segregated investments1,067 — — 1,067 
Total Assets$1,365 $8,007 $3,042 $12,414 
Liabilities:    
Unrealized derivative losses:    
Commodity contracts$— $1,116 $918 $2,034 
Foreign exchange contracts
— 535 — 535 
Interest rate contracts
— 15 — 15 
Debt conversion option— — 34 34 
Inventory-related payables— 498 11 509 
Total Liabilities$— $2,164 $963 $3,127 

 
 Fair Value Measurements at December 31, 2019
Quoted Prices in
Active Markets
for Identical
Assets
(Level 1)		Significant
Other
Observable
Inputs
(Level 2)		Significant
Unobservable
Inputs
(Level 3)		Total
  (In millions) 
Assets:    
Inventories carried at market$— $3,227 $1,477 $4,704 
Unrealized derivative gains:    
Commodity contracts— 277 201 478 
Foreign currency contracts— 138 — 138 
Interest rate contracts— 3 — 3 
Cash equivalents505 — — 505 
Marketable securities5 — — 5 
Segregated investments628 — — 628 
Deferred consideration— 446 — 446 
Total Assets$1,138 $4,091 $1,678 $6,907 
Liabilities:    
Unrealized derivative losses:    
Commodity contracts$— $375 $199 $574 
Foreign currency contracts— 125 — 125 
Interest rate contracts— 43 — 43 
Inventory-related payables— 702 27 729 
Total Liabilities$— $1,245 $226 $1,471 
  
Reconciliation Of Assets Measured At Fair Value On A Recurring Basis
 Level 3 Fair Value Assets Measurements at
December 31, 2020
Inventories
Carried at
Market		Commodity
Derivative
Contracts
Gains		Total
 (In millions)
Balance, December 31, 2019$1,477 $201 $1,678 
Total increase (decrease) in net realized/unrealized gains included in cost of products sold146 938 1,084 
Purchases14,185 — 14,185 
Sales(13,852)— (13,852)
Settlements— (257)(257)
Transfers into Level 3290 70 360 
Transfers out of Level 3(63)(93)(156)
Ending balance, December 31, 2020 (1)
$2,183 $859 $3,042 

(1) Includes increase in unrealized gains of $1.7 billion relating to Level 3 assets still held at December 31, 2020.
 Level 3 Fair Value Assets Measurements at
December 31, 2019
Inventories
Carried at
Market		Commodity
Derivative
Contracts
Gains		Total
 (In millions)
Balance, December 31, 2018$1,515 $155 $1,670 
Total increase (decrease) in net realized/unrealized gains included in cost of products sold327 417 744 
Purchases10,833 — 10,833 
Sales(11,167)— (11,167)
Settlements— (421)(421)
Transfers into Level 3108 74 182 
Transfers out of Level 3(139)(24)(163)
Ending balance, December 31, 2019 (1)
$1,477 $201 $1,678 

(1) Includes increase in unrealized gains of $900 million relating to Level 3 assets still held at December 31, 2019.
Reconciliation Of Liabilities Measured At Fair Value On A Recurring Basis
 Level 3 Fair Value Liabilities Measurements at
December 31, 2020
Inventory-
related
Payables		Commodity
Derivative
Contracts
Losses		Debt Conversion OptionTotal
 (In millions)
Balance, December 31, 2019$27 $199 $— $226 
Total increase (decrease) in net realized/unrealized losses included in cost of products sold and interest expense— 1,729 17 1,746 
Purchases/Issuance of debt conversion option20 — 17 37 
Sales(36)— — (36)
Settlements— (1,059)— (1,059)
Transfers into Level 3— 112 — 112 
Transfers out of Level 3— (63)— (63)
Ending balance, December 31, 2020 (1)
$11 $918 $34 $963 
 
(1) Includes increase in unrealized losses of $1.8 billion relating to Level 3 liabilities still held at December 31, 2020.
 Level 3 Fair Value Liabilities Measurements at
December 31, 2019
Inventory-
related
Payables		Commodity
Derivative
Contracts
Losses		Total
 (In millions)
Balance, December 31, 2018$18 $245 $263 
Total increase (decrease) in net realized/unrealized losses included in cost of products sold(1)398 397 
Purchases48 — 48 
Sales(38)— (38)
Settlements— (451)(451)
Transfers into Level 3— 51 51 
Transfers out of Level 3— (44)(44)
Ending balance, December 31, 2019 (1)
$27 $199 $226 

(1) Includes increase in unrealized losses of $7 million relating to Level 3 liabilities still held at December 31, 2019.
Unobservable Price Components Present in the Level 3 Valuations of Assets and Liabilities Measured at Fair Value on a Recurring Basis
The following table sets forth the weighted average percentage of the unobservable price components included in the Company’s Level 3 valuations as of December 31, 2020 and 2019.  The Company’s Level 3 measurements may include basis only, transportation cost only, or both price components.  As an example, for Level 3 inventories with basis, the unobservable component as of December 31, 2020 is a weighted average 4.3% of the total price for assets and 13.7% of the total price for liabilities.
 
Weighted Average % of Total Price
 December 31, 2020December 31, 2019
Component TypeAssetsLiabilitiesAssetsLiabilities
Inventories and Related Payables    
Basis4.3%13.7%28.2%14.7%
Transportation cost10.6%—%24.7%—%
Commodity Derivative Contracts    
Basis28.3%0.7%16.0%20.2%
Transportation cost1.9%1.3%9.7%3.1%