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Fair Value (Tables)
12 Months Ended
Dec. 31, 2018
Fair Value Disclosures [Abstract]  
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis
The following two tables summarize the fair value measurements of our (i) energy commodity derivative contracts; (ii) interest rate swap agreements; and (iii) cross-currency swap agreements, based on the three levels established by the Codification (in millions). The tables also identify the impact of derivative contracts which we have elected to present on our accompanying consolidated balance sheets on a gross basis that are eligible for netting under master netting agreements. 
 
Balance sheet asset fair value measurements by level
 
 
 
 
 

Level 1
 

Level 2
 

Level 3
 
Gross amount
 
Contracts available for netting
 
Cash collateral held(b)
 
Net amount
As of December 31, 2018
 
 
 
 
 
 
 
 
 
 
 
 
 
Energy commodity derivative contracts(a)
$
28

 
$
193

 
$

 
$
221

 
$
(39
)
 
$
(25
)
 
$
157

Interest rate contracts
$

 
$
133

 
$

 
$
133

 
$
(7
)
 
$

 
$
126

Foreign currency contracts
$

 
$
197

 
$

 
$
197

 
$
(6
)
 
$

 
$
191

As of December 31, 2017
 

 
 

 
 

 
 
 
 
 
 
 
 
Energy commodity derivative contracts(a)
$
17

 
$
70

 
$

 
$
87

 
$
(42
)
 
$
(12
)
 
$
33

Interest rate contracts
$

 
$
205

 
$

 
$
205

 
$
(15
)
 
$

 
$
190

Foreign currency contracts
$

 
$
166

 
$

 
$
166

 
$
(6
)
 
$

 
$
160


 
Balance sheet liability
fair value measurements by level
 
 
 
 
 
Level 1
 
Level 2
 
Level 3
 
Gross amount
 
Contracts available for netting
 
Collateral posted(b)
 
Net amount
As of December 31, 2018
 
 
 
 
 
 
 
 
 
 
 
 
 
Energy commodity derivative contracts(a)
$
(11
)
 
$
(39
)
 
$

 
$
(50
)
 
$
39

 
$

 
$
(11
)
Interest rate contracts
$

 
$
(115
)
 
$

 
$
(115
)
 
$
7

 
$

 
$
(108
)
Foreign currency contracts
$

 
$
(6
)
 
$

 
$
(6
)
 
$
6

 
$

 
$

As of December 31, 2017
 
 
 
 
 
 
 
 
 
 
 
 
 
Energy commodity derivative contracts(a)
$
(3
)
 
$
(98
)
 
$

 
$
(101
)
 
$
42

 
$

 
$
(59
)
Interest rate contracts
$

 
$
(65
)
 
$

 
$
(65
)
 
$
15

 
$

 
$
(50
)
Foreign currency contracts
$

 
$
(6
)
 
$

 
$
(6
)
 
$
6

 
$

 
$

_______
(a)
Level 1 consists primarily of NYMEX natural gas futures.  Level 2 consists primarily of OTC WTI swaps and NGL swaps. 
(b)
Any cash collateral paid or received is reflected in this table, but only to the extent that it represents variation margins. Any amount associated with derivative prepayments or initial margins that are not influenced by the derivative asset or liability amounts or those that are determined solely on their volumetric notional amounts are excluded from this table.

Fair Value, by Balance Sheet Grouping
The carrying value and estimated fair value of our outstanding debt balances is disclosed below (in millions): 
 
December 31, 2018
 
December 31, 2017
 
Carrying
value
 
Estimated
fair value
 
Carrying
value
 
Estimated
fair value
Total debt
$
37,324

 
$
37,469

 
$
37,843

 
$
40,050