v3.25.2
Fair Value Measurements - Schedule of Fair Value of Derivative Assets and Liabilities and Effect of Counterparty Netting (Details) - USD ($)
$ in Millions
Jun. 30, 2025
Dec. 31, 2024
Assets    
Total Fair Value of Gross Assets & Liabilities $ 5,117 $ 2,473
Effect of Counterparty Netting (4,741) (2,118)
Effect of Collateral Netting 0 0
Difference in Carrying Value and Fair Value 0 0
Net Carrying Value Presented on the Balance Sheet 376 355
Liabilities    
Total fair value gross liabilities 24,669 20,892
Effect of Counterparty Netting (4,741) (2,118)
Effect of Collateral Netting (70) (62)
Difference in Carrying Value and Fair Value 915 1,020
Net Carrying Value Presented on the Balance Sheet 20,773 19,732
Foreign Exchange Contract    
Assets    
Foreign currency derivative   67
Difference in Carrying Value and Fair Value   0
Liabilities    
Derivative liabilities 89  
Effect of Counterparty Netting 0  
Effect of Collateral Netting 0  
Difference in Carrying Value and Fair Value 0  
Net Carrying Value Presented on the Balance Sheet 89  
Exchange-cleared instruments | Commodity derivatives    
Assets    
Commodity Derivative Assets 4,827 2,137
Effect of Counterparty Netting (4,730) (2,111)
Effect of Collateral Netting 0 0
Difference in Carrying Value and Fair Value 0 0
Net Carrying Value Presented on the Balance Sheet 97 26
Liabilities    
Derivative liabilities 4,800 2,173
Effect of Counterparty Netting (4,730) (2,111)
Effect of Collateral Netting (70) (62)
Difference in Carrying Value and Fair Value 0 0
Net Carrying Value Presented on the Balance Sheet 0 0
OTC instruments | Commodity derivatives    
Assets    
Commodity Derivative Assets   7
Effect of Counterparty Netting   0
Effect of Collateral Netting   0
Difference in Carrying Value and Fair Value   0
Net Carrying Value Presented on the Balance Sheet   7
Physical forward contracts | Commodity derivatives    
Assets    
Commodity Derivative Assets 124 73
Effect of Counterparty Netting (11) (7)
Effect of Collateral Netting 0 0
Difference in Carrying Value and Fair Value 0 0
Net Carrying Value Presented on the Balance Sheet 113 66
Liabilities    
Derivative liabilities 138 46
Effect of Counterparty Netting (11) (7)
Effect of Collateral Netting 0 0
Difference in Carrying Value and Fair Value 0 0
Net Carrying Value Presented on the Balance Sheet 127 39
Level 1    
Assets    
Total Fair Value of Gross Assets & Liabilities 4,993 2,326
Liabilities    
Total fair value gross liabilities 4,800 2,173
Level 1 | Foreign Exchange Contract    
Assets    
Foreign currency derivative   0
Liabilities    
Derivative liabilities 0  
Level 1 | Exchange-cleared instruments | Commodity derivatives    
Assets    
Commodity Derivative Assets 4,827 2,137
Liabilities    
Derivative liabilities 4,800 2,173
Level 1 | OTC instruments | Commodity derivatives    
Assets    
Commodity Derivative Assets   0
Level 1 | Physical forward contracts | Commodity derivatives    
Assets    
Commodity Derivative Assets 0 0
Liabilities    
Derivative liabilities 0 0
Level 2    
Assets    
Total Fair Value of Gross Assets & Liabilities 119 144
Liabilities    
Total fair value gross liabilities 19,868 18,718
Level 2 | Foreign Exchange Contract    
Assets    
Foreign currency derivative   67
Liabilities    
Derivative liabilities 89  
Level 2 | Exchange-cleared instruments | Commodity derivatives    
Assets    
Commodity Derivative Assets 0 0
Liabilities    
Derivative liabilities 0 0
Level 2 | OTC instruments | Commodity derivatives    
Assets    
Commodity Derivative Assets   7
Level 2 | Physical forward contracts | Commodity derivatives    
Assets    
Commodity Derivative Assets 119 70
Liabilities    
Derivative liabilities 137 45
Level 3    
Assets    
Total Fair Value of Gross Assets & Liabilities 5 3
Liabilities    
Total fair value gross liabilities 1 1
Level 3 | Foreign Exchange Contract    
Assets    
Foreign currency derivative   0
Liabilities    
Derivative liabilities 0  
Level 3 | Exchange-cleared instruments | Commodity derivatives    
Assets    
Commodity Derivative Assets 0 0
Liabilities    
Derivative liabilities 0 0
Level 3 | OTC instruments | Commodity derivatives    
Assets    
Commodity Derivative Assets   0
Level 3 | Physical forward contracts | Commodity derivatives    
Assets    
Commodity Derivative Assets 5 3
Liabilities    
Derivative liabilities 1 1
Rabbi trust assets    
Assets    
Investments in Rabbi trust assets and in NOVONIX 143 153
Difference in Carrying Value and Fair Value 0 0
Rabbi trust assets | Level 1    
Assets    
Investments in Rabbi trust assets and in NOVONIX 143 153
Rabbi trust assets | Level 2    
Assets    
Investments in Rabbi trust assets and in NOVONIX 0 0
Rabbi trust assets | Level 3    
Assets    
Investments in Rabbi trust assets and in NOVONIX 0 0
Investment in NOVONIX    
Assets    
Investments in Rabbi trust assets and in NOVONIX 23 36
Difference in Carrying Value and Fair Value 0 0
Investment in NOVONIX | Level 1    
Assets    
Investments in Rabbi trust assets and in NOVONIX 23 36
Investment in NOVONIX | Level 2    
Assets    
Investments in Rabbi trust assets and in NOVONIX 0 0
Investment in NOVONIX | Level 3    
Assets    
Investments in Rabbi trust assets and in NOVONIX 0 0
Floating-rate debt    
Liabilities    
Debt 3,196 1,760
Difference in Carrying Value and Fair Value 0 0
Floating-rate debt | Net Carrying Value Presented on the Balance Sheet    
Liabilities    
Debt 3,196 1,760
Floating-rate debt | Level 1    
Liabilities    
Debt 0 0
Floating-rate debt | Level 2    
Liabilities    
Debt 3,196 1,760
Floating-rate debt | Level 3    
Liabilities    
Debt 0 0
Fixed-rate debt, excluding finance leases and software obligations    
Liabilities    
Debt 16,446 16,913
Difference in Carrying Value and Fair Value 915 1,020
Fixed-rate debt, excluding finance leases and software obligations | Net Carrying Value Presented on the Balance Sheet    
Liabilities    
Debt 17,361 17,933
Fixed-rate debt, excluding finance leases and software obligations | Level 1    
Liabilities    
Debt 0 0
Fixed-rate debt, excluding finance leases and software obligations | Level 2    
Liabilities    
Debt 16,446 16,913
Fixed-rate debt, excluding finance leases and software obligations | Level 3    
Liabilities    
Debt $ 0 $ 0