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Fair Value Measurements and Disclosures (Tables)
 12 Months Ended
Dec. 31, 2018
Fair Value Disclosures [Abstract]  
Assets and liabilities measured at fair value on a recurring basis Measurement information for assets and liabilities that are measured at fair value on a recurring basis was as follows:
 
Fair Value Measurements Using
 
 
 
 
(millions)
Quoted Prices in Active Markets
(Level 1) (1)
 
Significant Other
Observable Inputs
(Level 2) (1)
 
Significant
Unobservable
Inputs (Level 3) (1)
 
Adjustment (2)
 
Fair Value Measurement
December 31, 2018
 
 
 
 
 
 
 
 
 
Financial Assets
 
 
 
 
 
 
 
 
 
Mutual Fund Investments
$
38

 
$
—

 
$
—

 
$
—

 
$
38

Commodity Derivative Instruments
—

 
187

 
—

 
(7
)
 
180

Financial Liabilities
 
 
 
 
 
 
 
 
 
Commodity Derivative Instruments
—

 
(34
)
 
—

 
7

 
(27
)
Portion of Deferred Compensation Liability Measured at Fair Value
(43
)
 
—

 
—

 
—

 
(43
)
Stock Based Compensation Liability Measured at Fair Value
(8
)
 
—

 
—

 
—

 
(8
)
December 31, 2017
 
 
 
 
 
 
 

 
 

Financial Assets
 

 
 

 
 

 
 

 
 

Mutual Fund Investments
$
57

 
$
—

 
$
—

 
$
—

 
$
57

Commodity Derivative Instruments
—

 
7

 
—

 
(5
)
 
2

Financial Liabilities
 
 
 
 
 
 
 
 
 
Commodity Derivative Instruments
—

 
(78
)
 
—

 
5

 
(73
)
Portion of Deferred Compensation Liability Measured at Fair Value
(71
)
 
—

 
—

 
—

 
(71
)
Stock Based Compensation Liability Measured at Fair Value
(10
)
 
—

 
—

 
—

 
(10
)
(1) 
(2) 
Amount represents the impact of netting clauses within our master agreements that allow us to net cash settle asset and liability positions with the same counterparty.
Additional fair value disclosures Fair value information regarding our debt is as follows:
 
December 31, 2018
 
December 31, 2017
(millions)
Carrying Amount
 
Fair Value
 
Carrying Amount
 
Fair Value
Long-Term Debt, Net (1)
$
6,452

 
$
6,121

 
$
6,586

 
$
7,142

(1)Excludes unamortized discount, premium, debt issuance costs and capital lease obligations.