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Assets and Liabilities with Recurring Fair Value Measurements Fair Value Hierarchy (Details) - USD ($)
$ in Millions
Jun. 30, 2020
Dec. 31, 2019
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Cash equivalents [1] $ 417 $ 784
Derivative Asset [2] 449 402
Effect of Netting and Allocation of Collateral [3],[4] (1,330) (1,021)
Total assets 866 1,186
Derivative Liability [2] 364 288
Effect of Netting and Allocation of Collateral, Liability [3],[4] (1,337) (1,135)
Total Liabilities 364 288
Level 1    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Cash equivalents [1] 417 784
Effect of Netting and Allocation of Collateral [3],[4] (991) (872)
Total assets 417 784
Effect of Netting and Allocation of Collateral, Liability [3],[4] (1,001) (984)
Total Liabilities 0 0
Level 2    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Cash equivalents [1] 0 0
Effect of Netting and Allocation of Collateral [3],[4] (299) (131)
Total assets 125 126
Effect of Netting and Allocation of Collateral, Liability [3],[4] (296) (133)
Total Liabilities 286 183
Level 3    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Cash equivalents [1] 0 0
Effect of Netting and Allocation of Collateral [3],[4] (40) (18)
Total assets 324 276
Effect of Netting and Allocation of Collateral, Liability [3],[4] (40) (18)
Total Liabilities 78 105
Commodity exchange traded derivatives contracts    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Derivative Asset 991 872
Derivative Liability 1,001 984
Commodity exchange traded derivatives contracts | Level 1    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Derivative Asset 991 872
Derivative Liability 1,001 984
Commodity exchange traded derivatives contracts | Level 2    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Derivative Asset 0 0
Derivative Liability 0 0
Commodity exchange traded derivatives contracts | Level 3    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Derivative Asset 0 0
Derivative Liability 0 0
Commodity forward contracts    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Derivative Asset [5] 788 539
Derivative Liability [5] 539 408
Commodity forward contracts | Level 1    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Derivative Asset [5] 0 0
Derivative Liability [5] 0 0
Commodity forward contracts | Level 2    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Derivative Asset [5] 424 245
Derivative Liability [5] 421 285
Commodity forward contracts | Level 3    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Derivative Asset [5] 364 294
Derivative Liability [5] 118 123
Interest rate hedging instruments    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Derivative Asset 0 12
Derivative Liability 161 31
Interest rate hedging instruments | Level 1    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Derivative Asset 0 0
Derivative Liability 0 0
Interest rate hedging instruments | Level 2    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Derivative Asset 0 12
Derivative Liability 161 31
Interest rate hedging instruments | Level 3    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Derivative Asset 0 0
Derivative Liability $ 0 $ 0
[1] At June 30, 2020 and December 31, 2019, we had cash equivalents of $190 million and $573 million included in cash and cash equivalents and $227 million and $211 million included in restricted cash, respectively.
[2] At June 30, 2020 and December 31, 2019, we had $260 million and $191 million, respectively, of collateral under master netting arrangements that were not offset against our derivative instruments on the Consolidated Condensed Balance Sheets primarily related to initial margin requirements.
[3] Cash collateral posted with (received from) counterparties allocated to level 1, level 2 and level 3 derivative instruments totaled $10 million, $(3) million and nil, respectively, at June 30, 2020. Cash collateral posted with (received from) counterparties allocated to level 1, level 2 and level 3 derivative instruments totaled $112 million, $2 million and nil, respectively, at December 31, 2019.
[4] We offset fair value amounts recognized for derivative instruments executed with the same counterparty under a master netting arrangement for financial statement presentation; therefore, amounts recognized for the right to reclaim, or the obligation to return, cash collateral are presented net with the corresponding derivative instrument fair values. See Note 6 for further discussion of our derivative instruments subject to master netting arrangements.
[5] Includes OTC swaps and options.