Fair Value Measurements (Tables)

3 Months Ended

Mar. 31, 2017

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 March 31, 2017, and December 31, 2016, is as follows:

Assets and Liabilities Measured at Fair Value on a Recurring Basis

(Millions of dollars)

	At March 31, 2017								At December 31, 2016
	Total		Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3
Marketable Securities	$	11	$	11	$	—	$	—	$	13	$	13	$	—	$	—
Derivatives	73		51		22		—		32		15		17		—
Total Assets at Fair Value	$	84	$	62	$	22	$	—	$	45	$	28	$	17	$	—
Derivatives	8		1		7		—		109		78		31		—
Total Liabilities at Fair Value	$	8	$	1	$	7	$	—	$	109	$	78	$	31	$	—

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 March 31, 2017, is as follows:

Assets and Liabilities Measured at Fair Value on a Nonrecurring Basis

(Millions of dollars)

	At March 31, 2017
	Total		Level 1		Level 2		Level 3		Before-Tax Loss
Properties, plant and equipment, net (held and used)	$	—	$	—	$	—	$	—	$	81
Properties, plant and equipment, net (held for sale)	502		—		502		—		76
Investments and advances	10		—		—		10		3
Total Assets at Fair Value	$	512	$	—	$	502	$	10	$	160