Quarterly report [Sections 13 or 15(d)]

Derivative Instruments - Fair Value of Derivative Assets and Liabilities (Details)

v3.26.3
Derivative Instruments - Fair Value of Derivative Assets and Liabilities (Details) - USD ($)
$ in Millions
Sep. 30, 2026
Dec. 31, 2025
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Derivative Assets (Liabilities), at Fair Value, Net [1] $ (121) $ (523)
Normal Purchase Normal Sale Designated    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Derivative Assets (Liabilities), at Fair Value, Net   (394)
Fair Value, Inputs, Level 1 [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Derivative Assets (Liabilities), at Fair Value, Net [1] 0 0
Fair Value, Inputs, Level 2 [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Derivative Assets (Liabilities), at Fair Value, Net [1] (4) (23)
Fair Value, Inputs, Level 3 [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Derivative Assets (Liabilities), at Fair Value, Net [1] $ (117) $ (500)
[1] As described in Note 1—Nature of Operations and Basis of Presentation, in June 2026, we designated the NPNS scope exception for our IPM agreements. As a result, these agreements ceased to be accounted for as derivative instruments, with the then-current carrying amounts of the related derivative assets and liabilities reclassified to the applicable financial statement line items described in Note 1—Nature of Operations and Basis of Presentation. These agreements are therefore no longer included in the fair value amounts presented as of September 30, 2026. As of December 31, 2025, these agreements had a fair value of $394 million, classified as a liability within Level 3 of the fair value hierarchy. Accordingly, the reduction in Level 3 fair value balances between the periods reflects, in part, the exclusion of these agreements following the June 2026 NPNS designation, in addition to market movements, settlements and other fair value activity.