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Fair Value Measurements (Tables)
9 Months Ended
Sep. 30, 2013
Fair Value Measurements  
Assets and liabilities measured at fair value on a recurring basis (in millions)

 

 

 

 

Fair Value Measurements at

 

 

 

 

 

 

 

September 30, 2013 Using

 

 

 

 

 

 

 

 

 

Netting and

 

Total Fair

 

Description

 

Level 1

 

Level 2

 

Level 3

 

Collateral

(a)

Value

 

Assets:

 

 

 

 

 

 

 

 

 

 

 

Commodity derivatives

 

$

551

 

$

314

 

$

 

$

(750

)

$

115

 

Liabilities:

 

 

 

 

 

 

 

 

 

 

 

Commodity derivatives

 

$

524

 

$

344

 

$

 

$

(784

)

$

84

 

 

 

 

Fair Value Measurements at

 

 

 

 

 

 

 

December 31, 2012 Using

 

 

 

 

 

 

 

 

 

Netting and

 

Total Fair

 

Description

 

Level 1

 

Level 2

 

Level 3

 

Collateral

(a)

Value

 

Assets:

 

 

 

 

 

 

 

 

 

 

 

Commodity derivatives

 

$

107

 

$

312

 

$

 

$

(301

)

$

118

 

Liabilities:

 

 

 

 

 

 

 

 

 

 

 

Commodity derivatives

 

$

99

 

$

398

 

$

 

$

(371

)

$

126

 

 

(a)   Represents the impact of netting assets, liabilities and collateral when a legal right of offset exists.