17 unchanged sentences
In order to manage such price risks, we enter into commodity derivative instruments such as physical forward contracts, futures contracts, fixed-for-float swaps and basis swaps.
−Removed: At June 30, 2025 , our predominant commodity hedging strategies consisted of (i) hedging anticipated future purchases and sales of commodity products associated with transportation, storage and blending activities, (ii) hedging natural gas processing margins, (iii) hedging the fair value of commodity products held in inventory and (iv) hedging anticipated future purchases of power for certain operations in Southeast Texas.
+Added: At September 30, 2025 , our predominant commodity hedging strategies consisted of (i) hedging anticipated future purchases and sales of commodity products associated with transportation, storage and blending activities, (ii) hedging natural gas processing margins, (iii) hedging the fair value of commodity products held in inventory and (iv) hedging anticipated future purchases of power for certain operations in Southeast Texas.
For a summary of our portfolio of commodity derivative instruments outstanding, see Note 14 of the Notes to Unaudited Condensed Consolidated Financial Statements included under Part I, Item 1 of this quarterly report.
8 unchanged sentences
Scenario Resulting
−Removed: Classification December 31, 2024 June 30,
−Removed: 2025 July 15,
+Added: Classification December 31, 2024 September 30,
+Added: 2025 October 15,
Fair value assuming no change in underlying commodity prices Asset (Liability) $ 5 $ (4) $ 20
4 unchanged sentences
Scenario Resulting
−Removed: Classification December 31, 2024 June 30,
−Removed: 2025 July 15,
+Added: Classification December 31, 2024 September 30,
+Added: 2025 October 15,
Fair value assuming no change in underlying commodity prices Asset (Liability) $ 61 $ 44 $ 50
4 unchanged sentences
Scenario Resulting
−Removed: Classification December 31, 2024 June 30,
−Removed: 2025 July 15,
+Added: Classification December 31, 2024 September 30,
+Added: 2025 October 15,
Fair value assuming no change in underlying commodity prices Asset (Liability) $ 19 $ 58 $ 112
4 unchanged sentences
Scenario Resulting
−Removed: Classification December 31, 2024 June 30,
−Removed: 2025 July 15,
+Added: Classification December 31, 2024 September 30,
+Added: 2025 October 15,
Fair value assuming no change in underlying commodity prices Asset (Liability) $ (3) $ (2) $ (7)
6 unchanged sentences
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.