v3.25.3
Fair Value Measurements (Tables)
 9 Months Ended
Sep. 30, 2025
Fair Value Disclosures [Abstract]  
Schedule of Financial Assets and Liabilities Measured at Fair Value on a Recurring Basis
The following table presents financial assets and liabilities measured at fair value on a recurring basis and indicates their levels within the fair value hierarchy:
September 30, 2025December 31, 2024
Level 1Level 2
Level 3
TotalLevel 1Level 2
Level 3
Total
Assets
Money market funds(a)
$347 $— $— $347 $1,373 $— $— $1,373 
Interest rate swaps(b)
— 429 — 429 — 1,609 — 1,609 
Natural gas supply contracts(b)
— 1 47 48 — — 39 39 
Total$347 $430 $47 $824 $1,373 $1,609 $39 $3,021 
Liabilities
Interest rate swaps(c)
$— $259 $— $259 $— $3 $— $3 
Natural gas supply contracts(c)
— 15 121 136 — 3 33 36 
Total$— $274 $121 $395 $— $6 $33 $39 
____________
(a)Included in cash and cash equivalents on the condensed consolidated balance sheets.
(b)Included in derivative assets and noncurrent derivative assets on the condensed consolidated balance sheets.
(c)Included in accrued and other liabilities and other noncurrent liabilities on the condensed consolidated balance sheets.
Schedule of Quantitative Information for the Unobservable Inputs for Level 3 Natural Gas Supply Contracts
The following table includes quantitative information for the unobservable inputs for Level 3 natural gas supply contracts as of September 30, 2025 (natural gas price amounts in dollars):
Valuation approachSignificant unobservable inputRange of significant unobservable inputArithmetic average of significant unobservable input
Discounted cash flow
Forward natural gas price per MMBtu(a)
$1.62 to $5.34
$3.47 
Option pricing modelVolatility
23.1% to 88.6%
30.5 %
____________
(a)    At illiquid delivery locations.
Reconciliation of Change in Fair Value of Level 3 Derivative Instruments
The following table sets forth a reconciliation of changes in the fair value of derivative instruments measured at fair value on a recurring basis using Level 3 inputs for the three and nine months ended September 30, 2025. There were no derivative instruments measured at fair value using Level 3 inputs for the three and nine months ended September 30, 2024.
Natural gas supply contracts
Beginning balance as of July 1, 2025$(102)
Total realized and unrealized loss included in earnings— 
Settlements27 
Transfer out of Level 31 
Ending balance as of September 30, 2025$(74)
Unrealized gain included in earnings$27 
Natural gas supply contracts
Beginning balance as of January 1, 2025$6 
Total realized and unrealized loss included in earnings(141)
Settlements60 
Transfer out of Level 31 
Ending balance as of September 30, 2025$(74)
Unrealized loss included in earnings $(81)
Schedule of Fair Value of Outstanding Debt Instruments
The following table presents the fair value of outstanding debt instruments in the condensed consolidated balance sheets:
LevelSeptember 30,
2025		December 31,
2024
Fixed rate debt1$23,314 $16,085 
Variable and other fixed rate debt(a)
210,993 13,801 
____________
(a)    Carrying value approximates estimated fair value.