Derivative and Financial Instruments (Tables) |
6 Months Ended |
|---|---|
Jun. 30, 2020 | |
| Derivative and Financial Instruments [Abstract] | |
| Balance sheet location and fair value amounts of derivatives | The following table presents the gross fair values line items where they appear on our consolidated Millions of Dollars June 30 December 31 2020 2019 Assets Prepaid expenses and other current assets $ 316 288 Other assets 35 34 Liabilities Other accruals 310 283 Other liabilities and deferred credits 25 28 The following table presents the gross fair values collateral, and the line items where they appear Millions of Dollars June 30 December 31 2020 2019 Assets Prepaid expenses and other current assets $ 23 1 Liabilities Other accruals 1 20 Other liabilities and deferred credits - 8 |
| Income statement location and gain/loss amounts of derivatives | The gains (losses) from commodity derivatives consolidated income statement were: Millions of Dollars Six Months Ended June 30 June 30 2020 2019 2020 2019 Sales and other operating revenues $ (50) 45 (3) 64 Other income (loss) 3 2 5 1 Purchased commodities 24 (31) (2) (51) The (gains) losses from foreign currency exchange on our consolidated income statement were: Millions of Dollars Six Months Ended June 30 June 30 2020 2019 2020 2019 Foreign currency transaction (gain) loss $ 12 23 (62) 21 |
| Net exposures from outstanding commodity derivative contracts | The table below summarizes our material net exposures contracts: Open Position Long/(Short) June 30 December 31 2020 2019 Commodity Natural gas and power (billions of cubic feet equivalent) (20) (5) (27) (23) We had the following net notional position of outstanding foreign currency exchange In Millions Notional Currency June 30 December 31 2020 2019 Foreign Currency Exchange Derivatives Buy GBP, GBP 7 4 Sell CAD, buy USD CAD 427 1,337 |
| Net carrying amount of held to maturity investments | The following investments are carried on our Millions of Dollars Carrying Amount Cash and Cash Equivalents Short-Term Investments Investments and Long- Term Receivables June 30 December 31 June 30 December 31 June 30 December 31 2020 2019 2020 2019 2020 2019 Cash $ 575 759 Demand Deposits 917 1,483 - - - - Time Deposits Remaining maturities from 1 to 90 days 1,396 2,030 2,339 1,395 - - Remaining maturities from - - 1,302 465 - - Remaining maturities within one year - - 14 - - - Remaining maturities greater than one year through five years - - - - 3 - Commercial Paper Remaining maturities from 1 to 90 days - 413 - 1,069 - - Remaining maturities from - - 50 - - - U.S. Government Obligations Remaining maturities from 1 to 90 days 15 394 - - - - $ 2,903 5,079 3,705 2,929 3 - |
| Debt Securities Carried at Fair Value | The following investments in debt securities sheet at fair value: Millions of Dollars Carrying Amount Cash and Cash Equivalents Short-Term Investments Investments and Long- Term Receivables June 30 2020 December 31 2019 June 30 2020 December 31 2019 June 30 2020 December 31 2019 Corporate Bonds Maturities within one year $ - 1 144 59 - - Maturities greater than one year - - - - 134 99 Commercial Paper Maturities within one year 4 8 126 30 - - U.S. Government Obligations Maturities within one year - - 10 10 - - Maturities greater than one year - - - - 16 15 U.S. Government Agency Obligations Maturities greater than one year - - - - 4 - Asset-backed Securities Maturities greater than one year - - - - 37 19 $ 4 9 280 99 191 133 |
| Amortized cost basis and fair value of investments in debt securities classified as available for sale | The following table summarizes the amortized classified as available for sale: Millions of Dollars June 30, 2020 December 31, 2019 Amortized Cost Basis Fair Value Amortized Cost Basis Fair Value Major Security Type Corporate bonds $ 276 278 159 159 Commercial paper 130 130 38 38 U.S. government obligations 25 26 25 25 U.S. government agency obligations 4 4 - - Asset-backed securities 37 37 19 19 $ 472 475 241 241 |