Financial Instruments and Risk Management (Tables)

12 Months Ended

Dec. 31, 2013

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Available-for-sale Securities

These securities are accounted for as available-for-sale and recorded at fair value as follows:

	December 31, 2013						December 31, 2012
Millions of dollars	Level 1		Level 2		Total		Level 1		Level 2		Total
Fixed Income Securities:
U.S. treasuries (a)	$	100	—		$	100	$	150	$	—	$	150
Other (b)	—		273		273		—		248		248
Total	$	100	$	273	$	373	$	150	$	248	$	398

(a) These securities are classified as "Other current assets" in our consolidated balance sheets.

(b) Of these securities, $139 million are classified as “Other current assets” and $134 million are classified as “Other assets” on our consolidated balance sheets as of December 31, 2013, compared to $120 million classified as "Other current assets" and $128 million classified as "Other assets" as of December 31, 2012. These securities consist primarily of municipal bonds, corporate bonds, and other debt instruments.

Schedule of Carrying Values and Estimated Fair Values of Debt Instruments

The carrying amount and fair value of our long-term debt is as follows:

	December 31, 2013								December 31, 2012
Millions of dollars	Level 1		Level 2		Total fair value		Carrying value		Level 1		Level 2		Total fair value		Carrying value
Long-term debt	$	8,405	$	292	$	8,697	$	7,816	$	1,112	$	5,272	$	6,384	$	4,820