Derivative and Financial Instruments (Tables) |
9 Months Ended |
|---|---|
Sep. 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 September 30 December 31 2020 2019 Assets Prepaid expenses and other current assets $ 273 288 Other assets 28 34 Liabilities Other accruals 258 283 Other liabilities and deferred credits 19 28 The following table presents the gross fair values collateral, and the line items where they appear Millions of Dollars September 30 December 31 2020 2019 Assets Prepaid expenses and other current assets $ 16 1 Liabilities Other accruals - 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 Nine Months Ended September 30 September 30 2020 2019 2020 2019 Sales and other operating revenues $ 33 4 30 68 Other income (loss) (2) 3 3 4 Purchased commodities (27) (9) (29) (60) The (gains) losses from foreign currency exchange on our consolidated income statement were: Millions of Dollars Nine Months Ended September 30 September 30 2020 2019 2020 2019 Foreign currency transaction (gain) loss $ 7 (24) (55) (3) |
| Net exposures from outstanding commodity derivative contracts | The table below summarizes our material net exposures contracts: Open Position Long/(Short) September 30 December 31 2020 2019 Commodity Natural gas and power (billions of cubic feet equivalent) (9) (5) (50) (23) We had the following net notional position of outstanding foreign currency exchange In Millions Notional Currency September 30 December 31 2020 2019 Foreign Currency Exchange Derivatives Buy GBP, GBP 3 4 Sell CAD, buy USD CAD 416 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 September 30 December 31 September 30 December 31 2020 2019 2020 2019 Cash $ 545 759 Demand Deposits 1,182 1,483 Time Deposits Remaining maturities from 1 to 90 days 755 2,030 2,961 1,395 Remaining maturities from 91 to 180 days - - 741 465 Remaining maturities within one year - - 7 - Commercial Paper Remaining maturities from 1 to 90 days - 413 50 1,069 U.S. Government Obligations Remaining maturities from 1 to 90 days 5 394 - - $ 2,487 5,079 3,759 2,929 |
| Debt Securities Carried at Fair Value | The following investments in debt securities balance sheet at fair value: Millions of Dollars Carrying Amount Cash and Cash Equivalents Short-Term Investments Investments and Long-Term Receivables September 30 2020 December 31 2019 September 30 2020 December 31 2019 September 30 2020 December 31 2019 Corporate Bonds Maturities within one year $ - 1 157 59 - - Maturities greater than one year - - - - 128 99 Commercial Paper Maturities within one year 3 8 108 30 - - U.S. Government Obligations Maturities within one year - - 8 10 - - Maturities greater than one year - - - - 13 15 U.S. Government Agency Obligations Maturities greater than one year - - - - 17 - Foreign Government Obligations Maturities greater than one year - - - - 2 - Asset-backed Securities Maturities greater than one year - - - - 46 19 $ 3 9 273 99 206 133 |
| 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 September 30, 2020 December 31, 2019 Amortized Cost Basis Fair Value Amortized Cost Basis Fair Value Major Security Type Corporate bonds $ 283 285 159 159 Commercial paper 111 111 38 38 U.S. government obligations 21 21 25 25 U.S. government agency obligations 17 17 - - Foreign government obligations 2 2 - - Asset-backed securities 46 46 19 19 $ 480 482 241 241 |