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Fair Value Measurements (Tables)
9 Months Ended
Sep. 30, 2011
Fair Value Measurements 
Assets and liabilities measured at fair value on a recurring basis

 

 

 

Fair Value Measurements at
September 30, 2011 Using

 

 

 

 

 

Description

 

Level 1

 

Level 2

 

Level 3

 

Netting and
Collateral

(a)

Total Fair
Value

 

 

 

 

 

 

 

 

 

 

 

 

 

Assets:

 

 

 

 

 

 

 

 

 

 

 

Trading equity securities — natural resources industry

 

$

139

 

$

 

$

 

$

 

$

139

 

Commodity derivatives

 

727

 

911

 

 

(1,390

)

248

 

Total assets

 

$

866

 

$

911

 

$

 

$

(1,390

)

$

387

 

Liabilities:

 

 

 

 

 

 

 

 

 

 

 

Commodity derivatives

 

$

697

 

$

1,027

 

$

 

$

(1,431

)

$

293

 

Total liabilities

 

$

697

 

$

1,027

 

$

 

$

(1,431

)

$

293

 

 

 

 

Fair Value Measurements at
December 31, 2010 Using

 

 

 

 

 

Description

 

Level 1

 

Level 2

 

Level 3

 

Netting and
Collateral

(a)

Total Fair
Value

 

 

 

 

 

 

 

 

 

 

 

 

 

Assets:

 

 

 

 

 

 

 

 

 

 

 

Trading equity securities — natural resources industry

 

$

116

 

$

 

$

 

$

 

$

116

 

Trading U.S. treasury securities

 

10

 

 

 

 

10

 

Commodity derivatives

 

178

 

797

 

 

(680

)

295

 

Total assets

 

$

304

 

$

797

 

$

 

$

(680

)

$

421

 

Liabilities:

 

 

 

 

 

 

 

 

 

 

 

Commodity derivatives

 

$

201

 

$

916

 

$

 

$

(736

)

$

381

 

Total liabilities

 

$

201

 

$

916

 

$

 

$

(736

)

$

381

 

 

(a)     Represents the impact of netting assets, liabilities and collateral when a legal right of offset exists.