Fair Value Measurements (Tables)

6 Months Ended

Jun. 30, 2016

Fair Value Disclosures [Abstract]

Assets and Liabilities Measured at Fair Value on a Recurring Basis

The fair value hierarchy for assets and liabilities measured at fair value on a recurring basis at June 30, 2016, and December 31, 2015, is as follows:

Assets and Liabilities Measured at Fair Value on a Recurring Basis

(Millions of dollars)

	At June 30, 2016								At December 31, 2015
	Total		Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3
Marketable Securities	$	320	$	320	$	—	$	—	$	310	$	310	$	—	$	—
Derivatives	23		4		19		—		205		189		16		—
Total Assets at Fair Value	$	343	$	324	$	19	$	—	$	515	$	499	$	16	$	—
Derivatives	74		69		5		—		53		47		6		—
Total Liabilities at Fair Value	$	74	$	69	$	5	$	—	$	53	$	47	$	6	$	—

Assets and Liabilities Measured at Fair Value on a Non-Recurring Basis

The fair value hierarchy for assets and liabilities measured at fair value on a nonrecurring basis at June 30, 2016, is as follows:

Assets and Liabilities Measured at Fair Value on a Nonrecurring Basis

(Millions of dollars)

	At June 30, 2016
									Before-Tax Loss
	Total		Level 1		Level 2		Level 3		Three Months Ended		Six Months Ended
Properties, plant and equipment, net (held and used)	$	358	$	—	$	13	$	345	$	2,261	$	2,335
Properties, plant and equipment, net (held for sale)	288		—		285		3		314		541
Investments and advances	23		—		20		3		214		218
Total Assets at Fair Value	$	669	$	—	$	318	$	351	$	2,789	$	3,094