Fair Value Measurements (Tables)

6 Months Ended

Jun. 30, 2020

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, 2020, and December 31, 2019, is as follows:

Assets and Liabilities Measured at Fair Value on a Recurring Basis

(Millions of dollars)

	At June 30, 2020								At December 31, 2019
	Total		Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3
Marketable Securities	$	59	$	59	$	—	$	—	$	63	$	63	$	—	$	—
Derivatives	23		14		9		—		11		1		10		—
Total Assets at Fair Value	$	82	$	73	$	9	$	—	$	74	$	64	$	10	$	—
Derivatives	83		32		51		—		74		26		48		—
Total Liabilities at Fair Value	$	83	$	32	$	51	$	—	$	74	$	26	$	48	$	—

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, 2020, is as follows:

Assets and Liabilities Measured at Fair Value on a Nonrecurring Basis

(Millions of dollars)

	At June 30, 2020
									Before-Tax Loss
									Three Months Ended		Six Months Ended
	Total		Level 1		Level 2		Level 3
Properties, plant and equipment, net (held and used)	$	2,171	$	—	$	20	$	2,151	$	2,551	$	2,551
Properties, plant and equipment, net (held for sale)	655		—		655		—		92		166
Investments and advances	12		—		—		12		2,549		2,549
Total Assets at Fair Value	$	2,838	$	—	$	675	$	2,163	$	5,192	$	5,266