FAIR VALUE MEASUREMENTS (Tables)

6 Months Ended

Jun. 30, 2021

Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block]

The following table summarizes the bases used to measure certain assets and liabilities at fair value on a recurring basis:


Basis of Fair Value Measurements on a Recurring Basis	Jun 30, 2021								Dec 31, 2020
	Quoted Prices in Active Markets for Identical Items (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Total		Quoted Prices in Active Markets for Identical Items (Level 1)		Significant Other Observable Inputs (Level 2)		Total
In millions
Assets at fair value:
Cash equivalents:
Held-to-maturity securities 1	$	—	$	644	$	—	$	644	$	—	$	980	$	980
Money market funds	—		728		—		728		—		484		484
Marketable securities 2	—		105		—		105		—		45		45
Equity securities 3	32		—		—		32		40		—		40
Debt securities: 3
Government debt 4	—		594		—		594		—		698		698
Corporate bonds	30		999		—		1,029		28		908		936
Derivatives relating to: 5
Interest rates	—		178		—		178		—		44		44
Foreign currency	—		58		—		58		—		113		113
Commodities	12		499		—		511		8		173		181
Total assets at fair value	$	74	$	3,805	$	—	$	3,879	$	76	$	3,445	$	3,521
Liabilities at fair value:
Long-term debt including debt due within one year 6	$	—	$	18,682	$	—	$	18,682	$	—	$	20,604	$	20,604
Guarantee liability 7	—		—		230		230		—		—		—
Derivatives relating to: 5
Interest rates	—		364		—		364		—		185		185
Foreign currency	—		105		—		105		—		128		128
Commodities	27		441		—		468		7		201		208
Total liabilities at fair value	$	27	$	19,592	$	230	$	19,849	$	7	$	21,118	$	21,125

1.The Company's held-to-maturity securities primarily included treasury bills and time deposits.

2.The Company’s investments in marketable securities are included in “Other current assets” in the consolidated balance sheets.

3.The Company’s investments in debt securities, which are primarily available-for-sale, and equity securities are included in “Other investments” in the consolidated balance sheets.

4.U.S. Treasury obligations, U.S. agency obligations, U.S. agency mortgage-backed securities and other municipalities’ obligations.

5.See Note 18 for the classification of derivatives in the consolidated balance sheets.

6.See Note 18 for information on fair value measurements of long-term debt.

7.Estimated liability for TDCC's guarantee of Sadara's debt which is included in "Other noncurrent obligations" in the consolidated balance sheets. See Note 12 for additional information.