XML 59 R42.htm IDEA: XBRL DOCUMENT v3.20.4
Derivative and Financial Instruments (Tables)
 12 Months Ended
Dec. 31, 2020
Derivative and Financial Instruments [Abstract]  
Balance sheet location and fair value amounts of derivatives
The following table presents the gross fair values
 
of our commodity derivatives, excluding
 
collateral, and the
line items where they appear on our consolidated
 
balance sheet:
Millions of Dollars
2020
2019
Assets
Prepaid expenses and other current assets
$
229
288
Other assets
26
34
Liabilities
Other accruals
202
283
Other liabilities and deferred credits
18
28
The following table presents the gross fair values
 
of our foreign currency exchange derivatives,
 
excluding
collateral, and the line items where they appear
 
on our consolidated balance sheet:
Millions of Dollars
2020
2019
Assets
Prepaid expenses and other current assets
$
2
1
Liabilities
Other accruals
16
20
Other liabilities and deferred credits
-
8
Income statement location and gain/loss amounts of derivatives
The gains (losses) from commodity derivatives
 
incurred, and the line items where they appear
 
on our
consolidated income statement were:
Millions of Dollars
2020
2019
2018
Sales and other operating revenues
$
19
141
45
Other income (loss)
4
4
7
Purchased commodities
11
(118)
(41)
The (gains) losses from foreign currency exchange
 
derivatives incurred and the line item where they
 
appear
 
on our consolidated income statement were:
Millions of Dollars
2020
2019
2018
Foreign currency transaction (gains) losses
 
$
(40)
16
1
Net exposures/net notional positions of derivative contracts
The table below summarizes our material net exposures
 
resulting from outstanding commodity
 
derivative
contracts:
Open Position
Long/(Short)
2020
2019
Commodity
Natural gas and power (billions of cubic feet equivalent)
Fixed price
(20)
(5)
Basis
(10)
(23)
We had the following net notional position of outstanding foreign currency exchange
 
derivatives:
In Millions
Notional Currency
 
2020
2019
Foreign Currency Exchange Derivatives
Buy British pound, sell euro
GBP
-
4
Sell British pound, buy euro
GBP
5
-
Sell Canadian dollar, buy U.S. dollar
CAD
370
1,337
Net carrying amount of held to maturity investments
The following investments are carried on our
 
consolidated balance sheet at cost, plus accrued
 
interest and the
table reflects remaining maturities at December
 
31, 2020 and 2019:
Millions of Dollars
Carrying Amount
Cash and Cash
Equivalents
Short-Term
Investments
Investments and Long-
Term Receivables
2020
2019
2020
2019
2020
2019
Cash
$
597
759
Demand Deposits
1,133
1,483
Time Deposits
1 to 90 days
1,225
2,030
2,859
1,395
91 to 180 days
448
465
Within one year
13
-
One year through five years
1
-
Commercial Paper
1 to 90 days
-
413
-
1,069
U.S. Government Obligations
1 to 90 days
23
394
-
-
$
2,978
5,079
3,320
2,929
1
-
Debt Securities Carried at Fair Value
The following investments in debt securities
 
classified as available for sale are carried on our
 
consolidated
balance sheet at fair value as of December 31,
 
2020 and 2019:
Millions of Dollars
Carrying Amount
Cash and Cash
Equivalents
Short-Term
Investments
Investments and Long-
Term Receivables
2020
2019
2020
2019
2020
2019
Major Security Type
Corporate Bonds
$
-
1
130
59
143
99
Commercial Paper
13
8
155
30
U.S. Government Obligations
-
-
4
10
13
15
U.S. Government Agency
 
 
Obligations
17
-
Foreign Government Obligations
2
-
Asset-backed Securities
-
-
41
19
$
13
9
289
99
216
133
Cash and Cash Equivalents and Short-Term Investments have remaining maturities
 
within one year.
Investments and Long-Term Receivables have remaining maturities
 
greater than one year through five years.
Schedule of Unrealized Loss on Investments [Table Text Block]
The following table summarizes the amortized
 
cost basis and fair value of investments in
 
debt securities
classified as available for sale:
Millions of Dollars
Amortized Cost Basis
Fair Value
2020
2019
2020
2019
Major Security Type
Corporate bonds
$
271
159
273
159
Commercial paper
168
38
168
38
U.S. government obligations
17
25
17
25
U.S. government agency obligations
17
-
17
-
Foreign government obligations
2
-
2
-
Asset-backed securities
41
19
41
19
$
516
241
518
241