Energy Transfer 2015 Annual Report Download - page 222
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Table of Contents
For financial instruments, failure of a counterparty to perform on a contract could result in our inability to realize amounts that have been recorded on
our consolidated balance sheets and recognized in net income or other comprehensive income.
Derivative Summary
The following table provides a summary of our derivative assets and liabilities:
Fair Value of Derivative Instruments
Asset Derivatives
Liability Derivatives
December 31,
2015
December 31,
2014
December 31,
2015
December 31,
2014
Derivatives designated as hedging instruments:
Commodity derivatives (margin deposits) $ 38
$ 43
$ (3)
$ —
38
43
(3)
—
Derivatives not designated as hedging instruments:
Commodity derivatives (margin deposits) 353
617
(306)
(577)
Commodity derivatives 57
107
(41)
(23)
Interest rate derivatives —
3
(171)
(155)
Embedded derivatives in ETP Preferred Units —
—
(5)
(16)
410
727
(523)
(771)
Total derivatives $ 448
$ 770
$ (526)
$ (771)
The following table presents the fair value of our recognized derivative assets and liabilities on a gross basis and amounts offset on the consolidated
balance sheets that are subject to enforceable master netting arrangements or similar arrangements:
Asset Derivatives
Liability Derivatives
Balance Sheet Location
December 31, 2015
December 31, 2014
December 31, 2015
December 31, 2014
Derivatives without
offsetting agreements
Derivative assets
(liabilities)
$ —
$ 3
$ (176)
$ (171)
Derivatives in offsetting agreements:
OTC contracts
Derivative assets
(liabilities)
57
107
(41)
(23)
Broker cleared derivative
contracts
Other current assets
391
660
(309)
(577)
448
770
(526)
(771)
Offsetting agreements:
Counterparty netting
Derivative assets
(liabilities)
(17)
(19)
17
19
Payments on margin
deposit
Other current assets
(309)
(577)
309
577
Total net derivatives
$ 122
$ 174
$ (200)
$ (175)
We disclose the non-exchange traded financial derivative instruments as derivative assets and liabilities on our consolidated balance sheets at fair value
with amounts classified as either current or long-term depending on the anticipated settlement date.
F - 61