Derivative Assets And Liabilities (Tables)

9 Months Ended

Sep. 30, 2017

Outstanding Commodity-Related Derivatives

The following table details our outstanding commodity-related derivatives:

	September 30, 2017			December 31, 2016
	Notional Volume		Maturity	Notional Volume		Maturity
Mark-to-Market Derivatives
(Trading)
Natural Gas (MMBtu):
Fixed Swaps/Futures	1,297,500		2017-2018	(682,500	)	2017
Basis Swaps IFERC/NYMEX (1)	(15,810,000	)	2017-2019	2,242,500		2017
Options – Puts	13,000,000		2018	—		—
Power (Megawatt):
Forwards	665,040		2017-2018	391,880		2017-2018
Futures	(213,840	)	2017-2018	109,564		2017-2018
Options — Puts	(280,800	)	2017-2018	(50,400	)	2017
Options — Calls	545,600		2017-2018	186,400		2017
Crude (Bbls):
Futures	(160,000	)	2017	(617,000	)	2017
(Non-Trading)
Natural Gas (MMBtu):
Basis Swaps IFERC/NYMEX	67,500		2017-2020	10,750,000		2017-2018
Swing Swaps IFERC	91,897,500		2017-2019	(5,662,500	)	2017
Fixed Swaps/Futures	(20,220,000	)	2017-2019	(52,652,500	)	2017-2019
Forward Physical Contracts	(140,937,993	)	2017-2018	(22,492,489	)	2017
Natural Gas Liquid and Crude (Bbls) — Forwards/Swaps	(8,744,200	)	2017-2019	(5,786,627	)	2017
Refined Products (Bbls) — Futures	(1,947,000	)	2017-2018	(3,144,000	)	2017
Corn (Bushels) — Futures	650,000		2017-2018	1,580,000		2017
Fair Value Hedging Derivatives
(Non-Trading)
Natural Gas (MMBtu):
Basis Swaps IFERC/NYMEX	(41,102,500	)	2017	(36,370,000	)	2017
Fixed Swaps/Futures	(41,102,500	)	2017	(36,370,000	)	2017
Hedged Item — Inventory	41,102,500		2017	36,370,000		2017

⁽¹⁾  Includes aggregate amounts for open positions related to Houston Ship Channel, Waha Hub, NGPL TexOk, West Louisiana Zone and Henry Hub locations

Interest Rate Swaps Outstanding

The following table summarizes our interest rate swaps outstanding none of which were designated as hedges for accounting purposes:

		Notional Amount Outstanding
Term	Type(1)	September 30, 2017		December 31, 2016
July 2017(2)	Forward-starting to pay a fixed rate of 3.90% and receive a floating rate	$	—	$	500
July 2018(2)	Forward-starting to pay a fixed rate of 3.76% and receive a floating rate	300		200
July 2019(2)	Forward-starting to pay a fixed rate of 3.64% and receive a floating rate	300		200
July 2020(2)	Forward-starting to pay a fixed rate of 3.52% and receive a floating rate	400		—
December 2018	Pay a floating rate based on a 3-month LIBOR and receive a fixed rate of 1.53%	1,200		1,200
March 2019	Pay a floating rate based on a 3-month LIBOR and receive a fixed rate of 1.42%	300		300

⁽¹⁾  Floating rates are based on 3-month LIBOR.

⁽²⁾  Represents the effective date. These forward-starting swaps have a term of 30 years with a mandatory termination date the same as the effective date.

Fair Value Of Derivative Instruments

The following table provides a summary of our derivative assets and liabilities:

	Fair Value of Derivative Instruments
	Asset Derivatives				Liability Derivatives
	September 30, 2017		December 31, 2016		September 30, 2017			December 31, 2016
Derivatives designated as hedging instruments:
Commodity derivatives (margin deposits)	$	7	$	—	$	—		$	(4	)
Derivatives not designated as hedging instruments:
Commodity derivatives (margin deposits)	$	222	$	338	$	(262	)	$	(416	)
Commodity derivatives	52		25		(61		)	(58		)
Interest rate derivatives	—		—		(210		)	(193		)
Embedded derivatives in the ETP Preferred Units	—		—		—			(1		)
	274		363		(533		)	(668		)
Total derivatives	$	281	$	363	$	(533	)	$	(672	)

Derivatives, Offsetting Fair Value Amounts [Table Text Block]

The following table presents the fair value of our recognized derivative assets and liabilities on a gross basis and amounts offset on the consolidated balance sheets that are subject to enforceable master netting arrangements or similar arrangements:

		Asset Derivatives						Liability Derivatives
	Balance Sheet Location	September 30, 2017			December 31, 2016			September 30, 2017			December 31, 2016
Derivatives without offsetting agreements	Derivative assets (liabilities)	$	—		$	—		$	(210	)	$	(194	)
Derivatives in offsetting agreements:
OTC contracts	Derivative assets (liabilities)	52			25			(61		)	(58		)
Broker cleared derivative contracts	Other current assets	229			338			(262		)	(420		)
Total gross derivatives		281			363			(533		)	(672		)
Less offsetting agreements:
Counterparty netting	Derivative assets (liabilities)	(10		)	(4		)	10			4
Payments on margin deposit	Other current assets	(220		)	(338		)	220			338
Total net derivatives		$	51		$	21		$	(303	)	$	(330	)

Schedule of Cash Flow Hedging Instruments, Statements of Financial Performance and Financial Position, Location [Table Text Block]

	Location of Gain/(Loss) Recognized in Income on Derivatives	Amount of Gain/(Loss) Recognized in Income Representing Hedge Ineffectiveness and Amount Excluded from the Assessment of Effectiveness
		Three Months Ended September 30,					Nine Months Ended September 30,
		2017		2016			2017		2016
Derivatives in fair value hedging relationships (including hedged item):
Commodity derivatives	Cost of products sold	$	2	$	(9	)	$	4	$	8
Total		$	2	$	(9	)	$	4	$	8

Schedule of Other Derivatives Not Designated as Hedging Instruments, Statements of Financial Performance and Financial Position, Location [Table Text Block]

	Location of Gain/(Loss) Recognized in Income on Derivatives	Amount of Gain/(Loss) Recognized in Income on Derivatives
		Three Months Ended September 30,						Nine Months Ended September 30,
		2017			2016			2017			2016
Derivatives not designated as hedging instruments:
Commodity derivatives —Trading	Cost of products sold	$	(5	)	$	(7	)	$	21		$	(24	)
Commodity derivatives —Non-trading	Cost of products sold	(25		)	(16		)	(6		)	(61		)
Interest rate derivatives	Losses on interest rate derivatives	(8		)	(28		)	(28		)	(179		)
Embedded derivatives	Other, net	—			8			1			4
Total		$	(38	)	$	(43	)	$	(12	)	$	(260	)