Fair Value Measurements (Tables)

3 Months Ended

Mar. 31, 2023

Fair Value Disclosures [Abstract]

Fair Value of Assets and Liabilities Measured on Recurring Basis

	March 31, 2023		December 31, 2022		March 31, 2022
(In millions)	Level 22		Level 22		Level 11		Level 22
Assets at fair value:
Marketable securities	$	85	$	124	$	—	$	290
Derivatives relating to:3
Foreign currency	41		92		—		37
Commodity contracts	2		4		—		8
Equity Securities4	—		—		29		—
Total assets at fair value	$	128	$	220	$	29	$	335
Liabilities at fair value:
Derivatives relating to:3
Foreign currency	87		67		—		194
Commodity contracts	15		3		—		3
Total liabilities at fair value	$	102	$	70	$	—	$	197

1.Reflects quoted prices in active markets for identical items.

2.Reflects significant other observable inputs.

3.See Note 16 - Financial Instruments for the classification of derivatives in the interim Consolidated Balance Sheets.

4.The company's equity securities are included in other assets in the interim Consolidated Balance Sheets.