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Derivatives And Risk Management (Tables)
12 Months Ended
Dec. 31, 2015
Derivatives And Risk Management [Abstract]  
Balance Sheet Classification Of Derivative Financial Instruments

 

 

 

 

 

 

 

 

 

 

 

 

 

Derivative Assets

 

 

December 31, 2015

 

December 31, 2014

 

 

Balance Sheet Classification

 

Fair Value

 

Balance Sheet Classification

 

Fair Value

 

 

(in millions)

Derivatives designated as hedging instruments:

 

 

 

 

 

 

 

 

Fixed price swaps

 

Derivative assets

 

$

 –

 

Derivative assets

 

$

165 

Total derivatives designated as hedging instruments

 

$

 –

 

 

 

$

165 

 

 

 

 

 

 

 

 

 

 

 

Derivatives not designated as hedging instruments:

 

 

 

 

 

 

 

 

Basis swaps

 

Derivative assets

 

$

 

Derivative assets

 

$

Fixed price swaps

 

Derivative assets

 

 

 –

 

Derivative assets

 

 

163 

Basis swaps

 

Other long-term assets

 

 

 –

 

Other long-term assets

 

 

Interest rate swaps

 

Other long-term assets

 

 

 –

 

Other long-term assets

 

 

Total derivatives not designated as hedging instruments

 

$

 

 

 

$

174 

 

 

 

 

 

 

 

 

 

 

 

Total derivative assets

 

 

 

$

 

 

 

$

339 

 

 

 

 

 

Derivative Liabilities

 

 

December 31, 2015

 

December 31, 2014

 

 

Balance Sheet Classification

 

Fair Value

 

Balance Sheet Classification

 

Fair Value

 

 

(in millions)

Derivatives not designated as hedging instruments:

 

 

 

 

 

 

 

 

Basis swaps

 

Derivative liabilities

 

$

 –

 

Derivative liabilities

 

$

Fixed price call options

 

Derivative liabilities

 

 

 –

 

Derivative liabilities

 

 

Interest rate swaps

 

Derivative liabilities

 

 

 

Derivative liabilities

 

 

Fixed price call options

 

Other long-term liabilities

 

 

 –

 

Other long-term liabilities

 

 

10 

Basis swaps

 

Other long-term liabilities

 

 

 –

 

Other long-term liabilities

 

 

Interest rate swaps

 

Other long-term liabilities

 

 

 

Other long-term liabilities

 

 

Total derivatives not designated as hedging instruments

 

$

 

 

 

$

23 

 

 

 

 

 

 

 

 

 

 

 

Total derivative liabilities

 

 

 

$

 

 

 

$

23 

 

Summary Of Before Tax Effect Of Cash Flow Hedges On Consolidated Financial Statements

 

 

 

 

 

 

 

 

 

 

 

 

 

Gain Recognized in Other Comprehensive Income

 

 

 

 

(Effective Portion)

 

 

 

 

For the years ended

 

 

 

 

December 31,

Derivative Instrument

 

 

 

2015

 

2014

 

 

 

 

(in millions)

Fixed price swaps

 

 

 

$

45 

 

$

122 

 

 

 

 

 

 

 

 

 

 

 

Classification of Gain (Loss)

 

Gain (Loss) Reclassified from Accumulated Other Comprehensive Income into Earnings

 

 

Reclassified from Accumulated

 

(Effective Portion)

 

 

Other Comprehensive Income

 

For the years ended

 

 

into Earnings

 

December 31,

Derivative Instrument

 

(Effective Portion)

 

2015

 

2014

 

 

 

 

(in millions)

Fixed price swaps

 

Gas Sales

 

$

209 

 

$

(26)

 

 

 

 

 

 

 

 

 

 

Summary Of Before Tax Effect Of Fair Value Hedges Not Designated For Hedge Accounting

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Gain (Loss) on Derivatives,

 

 

 

 

Excluding Derivatives, Settled

 

 

 

 

Recognized in Earnings

 

 

Consolidated Statements of Operations

 

For the years ended

 

 

Classification of Gain (Loss) on

 

December 31,

Derivative Instrument

 

Derivatives, Net of Settlement

 

2015

 

2014

 

 

 

 

(in millions)

Basis swaps

 

Gain on Derivatives

 

$

(2)

 

$

(7)

Fixed price call options

 

Gain on Derivatives

 

 

13 

 

 

18 

Fixed price swaps

 

Gain on Derivatives

 

 

(164)

 

 

126 

Interest rate swaps

 

Gain on Derivatives

 

 

(2)

 

 

(7)

 

 

 

 

 

 

 

 

 

 

 

 

 

Gain (Loss)

 

 

 

 

on Derivatives, Settled (1)

 

 

 

 

Recognized in Earnings

 

 

Consolidated Statements of Operations

 

For the years ended

 

 

Classification of Gain (Loss)

 

December 31,

Derivative Instrument

 

on Derivatives, Settled (1)

 

2015

 

2014

 

 

 

 

(in millions)

Basis swaps

 

Gain on Derivatives

 

$

(2)

 

$

12 

Fixed price swaps

 

Gain on Derivatives

 

 

208 

 

 

(2)

Interest rate swaps

 

Gain on Derivatives

 

 

(4)

 

 

(1)

 

(1)

The Company calculates gain (loss) on derivatives, settled, as the summation of gains and losses on positions that have settled within the period.