Fair Value Measurements (Tables)

9 Months Ended

Sep. 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 September 30, 2020, and December 31, 2019, is as follows:

Assets and Liabilities Measured at Fair Value on a Recurring Basis

(Millions of dollars)

	At September 30, 2020								At December 31, 2019
	Total		Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3
Marketable Securities	$	28	$	28	$	—	$	—	$	63	$	63	$	—	$	—
Derivatives	104		55		49		—		11		1		10		—
Total Assets at Fair Value	$	132	$	83	$	49	$	—	$	74	$	64	$	10	$	—
Derivatives	8		5		3		—		74		26		48		—
Total Liabilities at Fair Value	$	8	$	5	$	3	$	—	$	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 September 30, 2020, is as follows:

Assets and Liabilities Measured at Fair Value on a Nonrecurring Basis

(Millions of dollars)

	At September 30, 2020
									Before-Tax Loss
									Three Months Ended		Nine Months Ended
	Total		Level 1		Level 2		Level 3
Properties, plant and equipment, net (held and used)	$	—	$	—	$	—	$	—	$	—	$	2,551
Properties, plant and equipment, net (held for sale)	22		—		22		—		17		183
Investments and advances	—		—		—		—		—		2,550
Total Assets at Fair Value	$	22	$	—	$	22	$	—	$	17	$	5,284