XML 61 R49.htm IDEA: XBRL DOCUMENT v3.25.3
Fair Value Measurements - Roll Forward of Assets and Liabilities Measured at Fair Value on a Recurring Basis Using Unobservable Inputs (Details) - Level 3 - USD ($)
$ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]        
Balance at beginning of period $ 3,303 $ 2,941 $ 3,458 $ 3,444
Increase (decrease) in unrealized gains included in Cost of products sold (65) 436 (432) 1,300
Increase (decrease) in unrealized losses included in Cost of products sold 0 0 0 0
Realized increases (decreases) included in Cost of products sold (42) (313) (32) (515)
Purchases 4,956 4,174 13,661 11,600
Sales (4,499) (3,736) (12,945) (11,813)
Settlements (359) (288) (808) (1,077)
Transfers into Level 3 457 423 1,725 1,553
Transfers out of Level 3 (796) (533) (1,672) (1,388)
Balance at end of period 2,955 3,104 2,955 3,104
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]        
Balance at beginning of period 426 401 493 558
Increase (decrease) in unrealized gains included in Cost of products sold 0 0 0 0
Increase (decrease) in unrealized losses included in Cost of products sold 169 346 628 892
Realized increases (decreases) included in Cost of products sold (5) (6) (8) (26)
Purchases 7 8 14 10
Sales (28) (12) (83) (75)
Settlements (293) (251) (806) (823)
Transfers into Level 3 8 22 62 50
Transfers out of Level 3 (4) (7) (20) (85)
Balance at end of period 280 501 280 501
Inventory-related Payables        
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]        
Balance at beginning of period 41 34 88 101
Increase (decrease) in unrealized gains included in Cost of products sold 0 0 0 0
Increase (decrease) in unrealized losses included in Cost of products sold 7 3 11 17
Realized increases (decreases) included in Cost of products sold (5) (6) (8) (26)
Purchases 7 8 14 10
Sales (28) (12) (83) (75)
Settlements 0 0 0 0
Transfers into Level 3 0 0 0 0
Transfers out of Level 3 0 0 0 0
Balance at end of period 22 27 22 27
Commodity Derivative Contracts Losses        
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]        
Balance at beginning of period 385 367 405 457
Increase (decrease) in unrealized gains included in Cost of products sold 0 0 0 0
Increase (decrease) in unrealized losses included in Cost of products sold 162 343 617 875
Realized increases (decreases) included in Cost of products sold 0 0 0 0
Purchases 0 0 0 0
Sales 0 0 0 0
Settlements (293) (251) (806) (823)
Transfers into Level 3 8 22 62 50
Transfers out of Level 3 (4) (7) (20) (85)
Balance at end of period 258 474 258 474
Inventories  Carried at  Market        
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]        
Balance at beginning of period 2,707 2,546 3,031 2,713
Increase (decrease) in unrealized gains included in Cost of products sold (340) 221 (1,273) 512
Increase (decrease) in unrealized losses included in Cost of products sold 0 0 0 0
Realized increases (decreases) included in Cost of products sold (42) (313) (32) (515)
Purchases 4,956 4,174 13,661 11,600
Sales (4,499) (3,736) (12,945) (11,813)
Settlements 0 0 0 0
Transfers into Level 3 415 265 1,534 1,339
Transfers out of Level 3 (781) (529) (1,560) (1,208)
Balance at end of period 2,416 2,628 2,416 2,628
Commodity Derivative Contracts Gains        
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]        
Balance at beginning of period 596 395 427 731
Increase (decrease) in unrealized gains included in Cost of products sold 275 215 841 788
Increase (decrease) in unrealized losses included in Cost of products sold 0 0 0 0
Realized increases (decreases) included in Cost of products sold 0 0 0 0
Purchases 0 0 0 0
Sales 0 0 0 0
Settlements (359) (288) (808) (1,077)
Transfers into Level 3 42 158 191 214
Transfers out of Level 3 (15) (4) (112) (180)
Balance at end of period $ 539 $ 476 $ 539 $ 476