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Fair Value Measurements (Tables)
 12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Fair Value Disclosures [Abstract]    
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block]
The following tables set forth, by level, the Company’s assets and liabilities that were accounted for at fair value on a recurring basis as of December 31, 2021 and 2020.

 Fair Value Measurements at December 31, 2021
Quoted Prices in
Active Markets
for Identical
Assets
(Level 1)		Significant
Other
Observable
Inputs
(Level 2)		Significant
Unobservable
Inputs
(Level 3)		Total
  (In millions) 
Assets:    
Inventories carried at market$— $6,765 $3,004 $9,769 
Unrealized derivative gains:    
Commodity contracts— 902 460 1,362 
Foreign exchange contracts
— 238 — 238 
Interest rate contracts— 46 — 46 
Cash equivalents448 — — 448 
Segregated investments1,338 — — 1,338 
Total Assets$1,786 $7,951 $3,464 $13,201 
Liabilities:    
Unrealized derivative losses:    
Commodity contracts$— $944 $815 $1,759 
Foreign exchange contracts
— 191 — 191 
Debt conversion option— — 15 15 
Inventory-related payables— 859 106 965 
Total Liabilities$— $1,994 $936 $2,930 

 
 Fair Value Measurements at December 31, 2020
Quoted Prices in
Active Markets
for Identical
Assets
(Level 1)		Significant
Other
Observable
Inputs
(Level 2)		Significant
Unobservable
Inputs
(Level 3)		Total
  (In millions) 
Assets:    
Inventories carried at market$— $5,758 $2,183 $7,941 
Unrealized derivative gains:    
Commodity contracts— 1,905 859 2,764 
Foreign currency contracts— 283 — 283 
Interest rate contracts— 61 — 61 
Cash equivalents297 — — 297 
Marketable securities1 — — 1 
Segregated investments1,067 — — 1,067 
Total Assets$1,365 $8,007 $3,042 $12,414 
Liabilities:    
Unrealized derivative losses:    
Commodity contracts$— $1,116 $918 $2,034 
Foreign currency contracts— 535 — 535 
Interest rate contracts— 15 — 15 
Debt conversion option— — 34 34 
Inventory-related payables— 498 11 509 
Total Liabilities$— $2,164 $963 $3,127 
  
Reconciliation Of Assets Measured At Fair Value On A Recurring Basis
 Level 3 Fair Value Assets Measurements at
December 31, 2021
Inventories
Carried at
Market		Commodity
Derivative
Contracts
Gains		Total
 (In millions)
Balance, December 31, 2020$2,183 $859 $3,042 
Total increase (decrease) in net realized/unrealized gains included in cost of products sold1,131 1,071 2,202 
Purchases30,357 — 30,357 
Sales(30,471)— (30,471)
Settlements— (1,437)(1,437)
Transfers into Level 31,200 103 1,303 
Transfers out of Level 3(1,396)(136)(1,532)
Ending balance, December 31, 2021 (1)
$3,004 $460 $3,464 

(1) Includes increase in unrealized gains of $2.2 billion relating to Level 3 assets still held at December 31, 2021.
 Level 3 Fair Value Assets Measurements at
December 31, 2020
Inventories
Carried at
Market		Commodity
Derivative
Contracts
Gains		Total
 (In millions)
Balance, December 31, 2019$1,477 $201 $1,678 
Total increase (decrease) in net realized/unrealized gains included in cost of products sold146 938 1,084 
Purchases14,185 — 14,185 
Sales(13,852)— (13,852)
Settlements— (257)(257)
Transfers into Level 3290 70 360 
Transfers out of Level 3(63)(93)(156)
Ending balance, December 31, 2020 (1)
$2,183 $859 $3,042 

(1) Includes increase in unrealized gains of $1.7 billion relating to Level 3 assets still held at December 31, 2020.
Reconciliation Of Liabilities Measured At Fair Value On A Recurring Basis
 Level 3 Fair Value Liabilities Measurements at
December 31, 2021
Inventory-
related
Payables		Commodity
Derivative
Contracts
Losses		Debt Conversion OptionTotal
 (In millions)
Balance, December 31, 2020$11 $918 $34 $963 
Total increase (decrease) in net realized/unrealized losses included in cost of products sold and interest expense2 1,992 (19)1,975 
Purchases123 — — 123 
Sales(30)— — (30)
Settlements— (2,191)— (2,191)
Transfers into Level 3— 324 — 324 
Transfers out of Level 3— (228)— (228)
Ending balance, December 31, 2021 (1)
$106 $815 $15 $936 
 
(1) Includes increase in unrealized losses of $0.8 billion relating to Level 3 liabilities still held at December 31, 2021.
 Level 3 Fair Value Liabilities Measurements at
December 31, 2020
Inventory-
related
Payables		Commodity
Derivative
Contracts
Losses		Debt Conversion OptionTotal
 (In millions)
Balance, December 31, 2019$27 $199 $— $226 
Total increase (decrease) in net realized/unrealized losses included in cost of products sold and interest expense— 1,729 17 1,746 
Purchases/Issuance of debt conversion option20 — 17 37 
Sales(36)— — (36)
Settlements— (1,059)— (1,059)
Transfers into Level 3— 112 — 112 
Transfers out of Level 3— (63)— (63)
Ending balance, December 31, 2020 (1)
$11 $918 $34 $963 

(1) Includes increase in unrealized losses of $0.9 billion relating to Level 3 liabilities still held at December 31, 2020.
Unobservable Price Components Present in the Level 3 Valuations of Assets and Liabilities Measured at Fair Value on a Recurring Basis
The following table sets forth the weighted average percentage of the unobservable price components included in the Company’s Level 3 valuations as of December 31, 2021 and 2020.  The Company’s Level 3 measurements may include basis only, transportation cost only, or both price components.  As an example, for Level 3 inventories with basis, the unobservable component as of December 31, 2021 is a weighted average 28.7% of the total price for assets and 13.1% of the total price for liabilities.
 
Weighted Average % of Total Price
 December 31, 2021December 31, 2020
Component TypeAssetsLiabilitiesAssetsLiabilities
Inventories and Related Payables    
Basis28.7%13.1%4.3%13.7%
Transportation cost13.0%—%10.6%—%
Commodity Derivative Contracts    
Basis30.0%27.1%28.3%0.7%
Transportation cost8.1%0.7%1.9%1.3%