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Fair Value Measurements (Tables)
 9 Months Ended
Sep. 30, 2017
Fair Value Disclosures [Abstract]  
Fair Value, Assets Measured on Recurring Basis [Table Text Block]
The following tables present information about CERC’s assets and liabilities (including derivatives that are presented net) measured at fair value on a recurring basis as of September 30, 2017 and December 31, 2016, and indicate the fair value hierarchy of the valuation techniques utilized by CERC to determine such fair value.
 
Quoted Prices in
Active Markets
for Identical Assets
(Level 1)
 
Significant Other
Observable
Inputs
(Level 2)
 
Significant
Unobservable
Inputs
(Level 3)
 
Netting
Adjustments (1)
 
Balance as of September 30, 2017
 
(in millions)
Assets
 
 
 
 
 
 
 
 
 
Corporate equities
$
3

 
$
—

 
$
—

 
$
—

 
$
3

Investments, including money
market funds (2)
11

 
—

 
—

 
—

 
11

Natural gas derivatives (3)
3

 
128

 
33

 
(44
)
 
120

Hedged portion of natural gas inventory
65

 
—

 
—

 
—

 
65

Total assets
$
82

 
$
128

 
$
33

 
$
(44
)
 
$
199

Liabilities
 

 
 

 
 

 
 

 
 

Natural gas derivatives (3)
$
3

 
$
74

 
$
7

 
$
(57
)
 
$
27

Total liabilities
$
3

 
$
74

 
$
7

 
$
(57
)
 
$
27


(1)
Amounts represent the impact of legally enforceable master netting arrangements that allow CERC to settle positive and negative positions and also include cash collateral of $13 million posted with the same counterparties.
 
(2)
Amounts are included in Other Assets in the Condensed Consolidated Balance Sheets.
 
(3)
Natural gas derivatives include no material amounts related to physical forward transactions with Enable.

 
Quoted Prices in
Active Markets
for Identical Assets
(Level 1)
 
Significant Other
Observable
Inputs
(Level 2)
 
Significant
Unobservable
Inputs
(Level 3)
 
Netting
Adjustments (1)
 
Balance as of December 31, 2016
 
(in millions)
Assets
 
 
 
 
 
 
 
 
 
Corporate equities
$
3

 
$
—

 
$
—

 
$
—

 
$
3

Investments, including money
market funds (2)
10

 
—

 
—

 
—

 
10

Natural gas derivatives (3)
11

 
74

 
20

 
(35
)
 
70

Total assets
$
24

 
$
74

 
$
20

 
$
(35
)
 
$
83

Liabilities
 

 
 

 
 

 
 

 
 

Natural gas derivatives (3)
$
4

 
$
56

 
$
7

 
$
(21
)
 
$
46

Total liabilities
$
4

 
$
56

 
$
7

 
$
(21
)
 
$
46


(1)
Amounts represent the impact of legally enforceable master netting arrangements that allow CERC to settle positive and negative positions and also include cash collateral of $14 million held by CES from the same counterparties.

(2)
Amounts are included in Other Assets in the Condensed Consolidated Balance Sheets.

(3)
Natural gas derivatives include no material amounts related to physical forward transactions with Enable.
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block]
The following table presents additional information about assets or liabilities, including derivatives that are measured at fair value on a recurring basis for which CERC has utilized Level 3 inputs to determine fair value:
 
Fair Value Measurements Using Significant
 Unobservable Inputs (Level 3)
 
Derivative Assets and Liabilities, Net
 
Three Months Ended September 30,
 
Nine Months Ended September 30,
 
2017
 
2016
 
2017
 
2016
 
(in millions)
Beginning balance
$
28

 
$
16

 
$
13

 
$
12

Purchases (1)
—

 
—

 
—

 
12

Total gains
(2
)
 
9

 
21

 
13

Total settlements
(1
)
 
(8
)
 
(5
)
 
(24
)
Transfers into Level 3
7

 
—

 
9

 
5

Transfers out of Level 3
(6
)
 
—

 
(12
)
 
(1
)
Ending balance (2)
$
26

 
$
17

 
$
26

 
$
17

The amount of total gains for the period included
in earnings attributable to the change in unrealized gains or losses relating to assets still held at the reporting date
$
—

 
$
6

 
$
17

 
$
14


(1)
Mark-to-market value of Level 3 derivative assets acquired through the purchase of AEM was less than $1 million at the acquisition date.

(2)
CERC did not have significant Level 3 sales during either of the three or nine months ended September 30, 2017 or 2016.
Fair Value, by Balance Sheet Grouping [Table Text Block]
Estimated Fair Value of Financial Instruments

The fair values of cash and cash equivalents and short-term borrowings are estimated to be approximately equivalent to carrying amounts and have been excluded from the table below. The carrying amounts of non-trading derivative assets and liabilities are stated at fair value and are excluded from the table below. The fair value of each debt instrument is determined by multiplying the principal amount of each debt instrument by a combination of historical trading prices and comparable issue data. These liabilities, which are not measured at fair value in the Condensed Consolidated Balance Sheets, but for which the fair value is disclosed, would be classified as Level 2 in the fair value hierarchy.
 
September 30, 2017
 
December 31, 2016
 
Carrying
Amount
 
Fair
Value
 
Carrying
Amount
 
Fair
Value
 
(in millions)
Financial liabilities:
 
 
 
 
 
 
 
Long-term debt
$
2,636

 
$
2,854

 
$
2,375

 
$
2,551