Shareholders' Equity and Redeemable Non-controlling Interests, Shareholders' Equity (Tables)

9 Months Ended

Sep. 30, 2020

Shareholders Equity and Redeemable Non-controlling Interests Abstract [Abstract]

Dividend distributions [Table Text Block]

Dividend Distributions—The following table summarizes the dividends paid in the periods presented:

Millions of dollars, except per share amounts	Dividend Per Ordinary Share		Aggregate Dividends Paid		Date of Record
March 2020	$	1.05	$	351	March 2, 2020
June 2020	1.05		350		June 8, 2020
September 2020	1.05		352		August 31, 2020
	$	3.15	$	1,053

Schedule of share repurchase authorization [Table Text Block]

The following table summarizes our share repurchase activity for the periods presented:

Millions of dollars, except shares and per share amounts	Shares Repurchased	Average Purchase Price		Total Purchase Price, Including Commissions and Fees
For nine months ended September 30, 2020:
September 2019 Share Repurchase Authorization	50,685	$	78.93	$	4
May 2020 Share Repurchase Authorization	—	—		—
	50,685	$	78.93	$	4
For nine months ended September 30, 2019:
June 2018 Share Repurchase Authorization	5,648,900	$	86.38	$	488
May 2019 Share Repurchase Authorization	37,032,594	87.50		3,240
	42,681,494	$	87.35	$	3,728

Due to the timing of settlements, total cash paid for share repurchases for the nine months ended September 30, 2020 and 2019 was $4 million and $3,752 million, respectively.

Schedule of changes in ordinary and treasury shares outstanding during the period [Table Text Block]

Ordinary Shares—The changes in the outstanding amounts of ordinary shares are as follows:

	Nine Months Ended September 30,
	2020	2019
Ordinary shares outstanding:
Beginning balance	333,476,883	375,696,661
Share-based compensation	246,640	268,851
Employee stock purchase plan	245,521	123,869
Purchase of ordinary shares	(50,685)	(42,681,505)
Ending balance	333,918,359	333,407,876

Treasury Shares—The changes in the amounts of treasury shares held by the Company are as follows:

	Nine Months Ended September 30,
	2020	2019
Ordinary shares held as treasury shares:
Beginning balance	6,568,745	24,513,619
Share-based compensation	(246,640)	(268,851)
Employee stock purchase plan	(245,521)	(123,869)
Purchase of ordinary shares	50,685	42,681,505
Ending balance	6,127,269	66,802,404

Schedule of accumulated other comprehensive income (loss) [Table Text Block]

Accumulated Other Comprehensive Loss—The components of, and after-tax changes in, Accumulated other comprehensive loss as of and for the nine months ended September 30, 2020 and 2019 are presented in the following tables:

Millions of dollars	Financial Derivatives		Unrealized Gains on Available -for-Sale Debt Securities		Defined Benefit Pension and Other Postretirement Benefit Plans		Foreign Currency Translation Adjustments		Total
Balance – January 1, 2020	$	(200)	$	—	$	(711)	$	(873)	$	(1,784)
Other comprehensive income (loss) before reclassifications	(447)		1		—		(53)		(499)
Tax (expense) benefit before reclassifications	93		—		—		6		99
Amounts reclassified from accumulated other comprehensive loss	84		—		42		—		126
Tax (expense) benefit	(19)		—		(11)		—		(30)
Net other comprehensive income (loss)	(289)		1		31		(47)		(304)
Balance – September 30, 2020	$	(489)	$	1	$	(680)	$	(920)	$	(2,088)

Millions of dollars	Financial Derivatives		Unrealized Gains on Available -for-Sale Debt Securities		Defined Benefit Pension and Other Postretirement Benefit Plans		Foreign Currency Translation Adjustments		Total
Balance – January 1, 2019	$	(68)	$	—	$	(442)	$	(853)	$	(1,363)
Other comprehensive income (loss) before reclassifications	(184)		1		—		(92)		(275)
Tax (expense) benefit before reclassifications	36		—		—		(14)		22
Amounts reclassified from accumulated other comprehensive loss	(110)		—		20		—		(90)
Tax (expense) benefit	28		—		(5)		—		23
Net other comprehensive income (loss)	(230)		1		15		(106)		(320)
Balance – September 30, 2019	$	(298)	$	1	$	(427)	$	(959)	$	(1,683)

Reclassification out of accumulated other comprehensive income (loss) [Table Text Block]

The amounts reclassified out of each component of Accumulated other comprehensive loss are as follows: 

	Three Months Ended September 30,				Nine Months Ended September 30,				Affected Line Item on the Consolidated Statements of Income
Millions of dollars	2020		2019		2020		2019
Reclassification adjustments for:
Financial derivatives:
Foreign currency	$	89	$	(86)	$	81	$	(99)	Other income, net
Commodities	—		(10)		—		(18)		Sales and other operating revenue
Commodities	—		8		—		12		Cost of sales
Interest rates	1		(1)		3		(5)		Interest expense
Income tax expense (benefit)	22		(25)		19		(28)		Provision for income taxes
Financial derivatives, net of tax	68		(64)		65		(82)
Amortization of defined pension items:
Prior service cost	1		—		3		1		Other income, net
Actuarial loss	13		6		39		19		Other income, net
Income tax expense (benefit)	4		1		11		5		Provision for income taxes
Defined pension items, net of tax	10		5		31		15
Total reclassifications, before tax	104		(83)		126		(90)
Income tax expense (benefit)	26		(24)		30		(23)		Provision for income taxes
Total reclassifications, after tax	$	78	$	(59)	$	96	$	(67)	Amount included in net income