XML 58 R45.htm IDEA: XBRL DOCUMENT v3.26.1
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 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Jun. 30, 2026
Jun. 30, 2025
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]        
Balance at beginning of period $ 3,782 $ 3,611 $ 3,185 $ 3,458
Increase (decrease) in unrealized gains included in Cost of products sold (840) (677) (175) (367)
Increase in unrealized losses included in Cost of products sold 0 0 0 0
Realized (decreases) increases included in Cost of products sold (1,015) (46) (1,260) 10
Purchases 5,266 4,620 9,816 8,705
Sales (3,032) (3,868) (7,454) (8,446)
Settlements (277) (221) (526) (449)
Transfers into Level 3 570 584 1,075 1,268
Transfers out of Level 3 (494) (700) (701) (876)
Balance at end of period 3,960 3,303 3,960 3,303
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]        
Balance at beginning of period 664 404 329 493
Increase (decrease) in unrealized gains included in Cost of products sold 0 0 0 0
Increase in unrealized losses included in Cost of products sold 307 266 862 459
Realized (decreases) increases included in Cost of products sold (1) (1) (4) (3)
Purchases 14 4 29 7
Sales (5) (19) (6) (55)
Settlements (401) (237) (623) (513)
Transfers into Level 3 17 19 47 54
Transfers out of Level 3 (67) (10) (106) (16)
Balance at end of period 528 426 528 426
Inventory-related Payables        
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]        
Balance at beginning of period 30 52 16 88
Increase (decrease) in unrealized gains included in Cost of products sold 0 0 0 0
Increase in unrealized losses included in Cost of products sold 2 5 3 4
Realized (decreases) increases included in Cost of products sold (1) (1) (4) (3)
Purchases 14 4 29 7
Sales (5) (19) (6) (55)
Settlements 0 0 0 0
Transfers into Level 3 0 0 2 0
Transfers out of Level 3 0 0 0 0
Balance at end of period 40 41 40 41
Commodity Derivative Contracts Losses        
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]        
Balance at beginning of period 634 352 313 405
Increase (decrease) in unrealized gains included in Cost of products sold 0 0 0 0
Increase in unrealized losses included in Cost of products sold 305 261 859 455
Realized (decreases) increases included in Cost of products sold 0 0 0 0
Purchases 0 0 0 0
Sales 0 0 0 0
Settlements (401) (237) (623) (513)
Transfers into Level 3 17 19 45 54
Transfers out of Level 3 (67) (10) (106) (16)
Balance at end of period 488 385 488 385
Inventories  Carried at  Market        
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]        
Balance at beginning of period 3,242 3,103 2,673 3,031
Increase (decrease) in unrealized gains included in Cost of products sold (1,162) (1,030) (787) (933)
Increase in unrealized losses included in Cost of products sold 0 0 0 0
Realized (decreases) increases included in Cost of products sold (1,015) (46) (1,260) 10
Purchases 5,266 4,620 9,816 8,705
Sales (3,032) (3,868) (7,454) (8,446)
Settlements 0 0 0 0
Transfers into Level 3 554 548 1,049 1,119
Transfers out of Level 3 (491) (620) (675) (779)
Balance at end of period 3,362 2,707 3,362 2,707
Commodity Derivative Contracts Gains        
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]        
Balance at beginning of period 540 508 512 427
Increase (decrease) in unrealized gains included in Cost of products sold 322 353 612 566
Increase in unrealized losses included in Cost of products sold 0 0 0 0
Realized (decreases) increases included in Cost of products sold 0 0 0 0
Purchases 0 0 0 0
Sales 0 0 0 0
Settlements (277) (221) (526) (449)
Transfers into Level 3 16 36 26 149
Transfers out of Level 3 (3) (80) (26) (97)
Balance at end of period $ 598 $ 596 $ 598 $ 596