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Fair Value Disclosures (Tables)
 3 Months Ended
Mar. 31, 2020
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)
March 31,
2020
 
December 31,
2019
 
March 31,
2020
 
December 31,
2019
 
March 31,
2020
 
December 31,
2019
Assets
 
 
 
 
 
 
 
 
 
 
 
Derivative assets
$
—

 
$
—

 
$
246

 
$
167

 
$
—

 
$
—

Investments and securities*
19

 
18

 
—

 
—

 
27

 
28

                 Total
$
19

 
$
18

 
$
246

 
$
167

 
$
27

 
$
28

 
 
 
 
 
 
 
 
 
 
 
 
Liabilities
 
 
 
 
 
 
 
 
 
 
 
Derivative liabilities
$
—

 
$
—

 
$
226

 
$
99

 
$
—

 
$
—



* Investments and securities are recorded in prepaid and other current assets and other long-term 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 three months ended March 31, 2020. Gains (losses) recognized in earnings are recorded to interest expense - net in the company's consolidated statements of income.
(Millions of dollars)
2020
Balance at January 1
$
28

Additions
—

Gains (losses) recognized in earnings
(1
)
Balance at March 31
$
27