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Fair Value Disclosures (Tables)
 6 Months Ended
Jun. 30, 2019
Fair Value Disclosures [Abstract]  
Schedule of Assets and Liabilities Measured at Fair Value on a Recurring Basis
The following table summarizes assets and liabilities measured at fair value on a recurring basis:
 
Fair Value Measurements Using
 
Level 1
 
Level 2
 
Level 3
(Millions of dollars)
June 30,
2019
 
December 31,
2018
 
June 30,
2019
 
December 31,
2018
 
June 30,
2019
 
December 31,
2018
Assets
 
 
 
 
 
 
 
 
 
 
 
Derivative assets
$
—

 
$
—

 
$
165

 
$
193

 
$
—

 
$
—

Investments and securities*
21

 
22

 
—

 
—

 
29

 
30

                 Total
$
21

 
$
22

 
$
165

 
$
193

 
$
29

 
$
30

 
 
 
 
 
 
 
 
 
 
 
 
Liabilities
 
 
 
 
 
 
 
 
 
 
 
Derivative liabilities
$
—

 
$
—

 
$
121

 
$
121

 
$
—

 
$
—



* Investments and securities are recorded in prepaid and other current assets in the company's condensed consolidated balance sheets.
Schedule of Level 3 Investments and Securities
The following table summarizes the changes in level 3 investments and securities for the six months ended June 30, 2019. Gains (losses) recognized in earnings are recorded to interest expense - net in the company's consolidated statements of income.
(Millions of dollars)
2019
Balance at January 1
$
30

Gains (losses) recognized in earnings
(1
)
Balance at June 30
$
29