v3.25.4
Fair Value Measurements - Schedule of Fair Value of Derivative Assets and Liabilities and Effect of Counterparty Netting (Details) - USD ($)
$ in Millions
Dec. 31, 2025
Dec. 31, 2024
Commodity Derivative Assets    
Total fair value of gross assets $ 2,974 $ 2,473
Effect of Counterparty Netting (2,670) (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 304 355
Commodity Derivative Liabilities    
Total fair value gross liabilities 21,435 20,892
Effect of Counterparty Netting (2,670) (2,118)
Effect of Collateral Netting (20) (62)
Difference in Carrying Value and Fair Value 621 1,020
Net Carrying Value Presented on the Balance Sheet 19,366 19,732
Level 1    
Commodity Derivative Assets    
Total fair value of gross assets 2,901 2,326
Commodity Derivative Liabilities    
Total fair value gross liabilities 2,680 2,173
Level 2    
Commodity Derivative Assets    
Total fair value of gross assets 69 144
Commodity Derivative Liabilities    
Total fair value gross liabilities 18,754 18,718
Level 3    
Commodity Derivative Assets    
Total fair value of gross assets 4 3
Commodity Derivative Liabilities    
Total fair value gross liabilities 1 1
Rabbi trust assets    
Commodity Derivative Assets    
Investments in Rabbi trust assets and in NOVONIX 144 153
Difference in Carrying Value and Fair Value 0 0
Rabbi trust assets | Level 1    
Commodity Derivative Assets    
Investments in Rabbi trust assets and in NOVONIX 144 153
Rabbi trust assets | Level 2    
Commodity Derivative Assets    
Investments in Rabbi trust assets and in NOVONIX 0 0
Rabbi trust assets | Level 3    
Commodity Derivative Assets    
Investments in Rabbi trust assets and in NOVONIX 0 0
Investment in NOVONIX    
Commodity Derivative Assets    
Investments in Rabbi trust assets and in NOVONIX 26 36
Difference in Carrying Value and Fair Value 0 0
Investment in NOVONIX | Level 1    
Commodity Derivative Assets    
Investments in Rabbi trust assets and in NOVONIX 26 36
Investment in NOVONIX | Level 2    
Commodity Derivative Assets    
Investments in Rabbi trust assets and in NOVONIX 0 0
Investment in NOVONIX | Level 3    
Commodity Derivative Assets    
Investments in Rabbi trust assets and in NOVONIX 0 0
Floating-rate debt    
Commodity Derivative Liabilities    
Floating-rate debt and Fixed-rate debt, excluding finance leases and software obligations 400 1,760
Difference in Carrying Value and Fair Value 0 0
Floating-rate debt | Level 1    
Commodity Derivative Liabilities    
Floating-rate debt and Fixed-rate debt, excluding finance leases and software obligations 0 0
Floating-rate debt | Level 2    
Commodity Derivative Liabilities    
Floating-rate debt and Fixed-rate debt, excluding finance leases and software obligations 400 1,760
Floating-rate debt | Level 3    
Commodity Derivative Liabilities    
Floating-rate debt and Fixed-rate debt, excluding finance leases and software obligations 0 0
Fixed-rate debt, excluding finance leases and software obligations    
Commodity Derivative Liabilities    
Floating-rate debt and Fixed-rate debt, excluding finance leases and software obligations 18,324 16,913
Difference in Carrying Value and Fair Value 621 1,020
Fixed-rate debt, excluding finance leases and software obligations | Level 1    
Commodity Derivative Liabilities    
Floating-rate debt and Fixed-rate debt, excluding finance leases and software obligations 0 0
Fixed-rate debt, excluding finance leases and software obligations | Level 2    
Commodity Derivative Liabilities    
Floating-rate debt and Fixed-rate debt, excluding finance leases and software obligations 18,324 16,913
Fixed-rate debt, excluding finance leases and software obligations | Level 3    
Commodity Derivative Liabilities    
Floating-rate debt and Fixed-rate debt, excluding finance leases and software obligations 0 0
Commodity Derivative Assets | Exchange-cleared instruments    
Commodity Derivative Assets    
Total Fair Value of Gross Assets & Liabilities 2,731 2,137
Effect of Counterparty Netting (2,660) (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 71 26
Commodity Derivative Liabilities    
Total Fair Value of Gross Assets & Liabilities 2,680 2,173
Effect of Counterparty Netting (2,660) (2,111)
Effect of Collateral Netting (20) (62)
Difference in Carrying Value and Fair Value 0 0
Net Carrying Value Presented on the Balance Sheet 0 0
Commodity Derivative Assets | OTC instruments    
Commodity Derivative Assets    
Total Fair Value of Gross Assets & Liabilities   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
Commodity Derivative Assets | Physical forward contracts    
Commodity Derivative Assets    
Total Fair Value of Gross Assets & Liabilities 73 73
Effect of Counterparty Netting (10) (7)
Effect of Collateral Netting 0 0
Difference in Carrying Value and Fair Value 0 0
Net Carrying Value Presented on the Balance Sheet 63 66
Commodity Derivative Liabilities    
Total Fair Value of Gross Assets & Liabilities 31 46
Effect of Counterparty Netting (10) (7)
Effect of Collateral Netting 0 0
Difference in Carrying Value and Fair Value 0 0
Net Carrying Value Presented on the Balance Sheet 21 39
Commodity Derivative Assets | Level 1 | Exchange-cleared instruments    
Commodity Derivative Assets    
Total Fair Value of Gross Assets & Liabilities 2,731 2,137
Commodity Derivative Liabilities    
Total Fair Value of Gross Assets & Liabilities 2,680 2,173
Commodity Derivative Assets | Level 1 | OTC instruments    
Commodity Derivative Assets    
Total Fair Value of Gross Assets & Liabilities   0
Commodity Derivative Assets | Level 1 | Physical forward contracts    
Commodity Derivative Assets    
Total Fair Value of Gross Assets & Liabilities 0 0
Commodity Derivative Liabilities    
Total Fair Value of Gross Assets & Liabilities 0 0
Commodity Derivative Assets | Level 2 | Exchange-cleared instruments    
Commodity Derivative Assets    
Total Fair Value of Gross Assets & Liabilities 0 0
Commodity Derivative Liabilities    
Total Fair Value of Gross Assets & Liabilities 0 0
Commodity Derivative Assets | Level 2 | OTC instruments    
Commodity Derivative Assets    
Total Fair Value of Gross Assets & Liabilities   7
Commodity Derivative Assets | Level 2 | Physical forward contracts    
Commodity Derivative Assets    
Total Fair Value of Gross Assets & Liabilities 69 70
Commodity Derivative Liabilities    
Total Fair Value of Gross Assets & Liabilities 30 45
Commodity Derivative Assets | Level 3 | Exchange-cleared instruments    
Commodity Derivative Assets    
Total Fair Value of Gross Assets & Liabilities 0 0
Commodity Derivative Liabilities    
Total Fair Value of Gross Assets & Liabilities 0 0
Commodity Derivative Assets | Level 3 | OTC instruments    
Commodity Derivative Assets    
Total Fair Value of Gross Assets & Liabilities   0
Commodity Derivative Assets | Level 3 | Physical forward contracts    
Commodity Derivative Assets    
Total Fair Value of Gross Assets & Liabilities 4 3
Commodity Derivative Liabilities    
Total Fair Value of Gross Assets & Liabilities 1 1
Foreign currency derivative    
Commodity Derivative Assets    
Foreign currency derivative   67
Difference in Carrying Value and Fair Value   0
Foreign currency derivative | Level 1    
Commodity Derivative Assets    
Foreign currency derivative   0
Foreign currency derivative | Level 2    
Commodity Derivative Assets    
Foreign currency derivative   67
Foreign currency derivative | Level 3    
Commodity Derivative Assets    
Foreign currency derivative   0
Net Carrying Value Presented on the Balance Sheet | Floating-rate debt    
Commodity Derivative Liabilities    
Floating-rate debt and Fixed-rate debt, excluding finance leases and software obligations 400 1,760
Net Carrying Value Presented on the Balance Sheet | Fixed-rate debt, excluding finance leases and software obligations    
Commodity Derivative Liabilities    
Floating-rate debt and Fixed-rate debt, excluding finance leases and software obligations $ 18,945 $ 17,933