Fair Value Measurements (Tables)

9 Months Ended

Sep. 30, 2022

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 at September 30, 2022, and December 31, 2021, is as follows:

Assets and Liabilities Measured at Fair Value on a Recurring Basis

(Millions of dollars)

	At September 30, 2022								At December 31, 2021
	Total		Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3
Marketable Securities	$	267	$	267	$	—	$	—	$	35	$	35	$	—	$	—
Derivatives - not designated	243		100		143		—		313		285		28		—
Derivatives - designated	49		49		—		—		—		—		—		—
Total Assets at Fair Value	$	559	$	416	$	143	$	—	$	348	$	320	$	28	$	—
Derivatives - not designated	163		62		101		—		72		24		48		—
Total Liabilities at Fair Value	$	163	$	62	$	101	$	—	$	72	$	24	$	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, 2022, is as follows:

Assets and Liabilities Measured at Fair Value on a Nonrecurring Basis

(Millions of dollars)

	At September 30, 2022
									Before-Tax Loss
	Total		Level 1		Level 2		Level 3		Three Months Ended		Nine Months Ended
Properties, plant and equipment, net (held and used)	$	54	$	—	$	—	$	54	$	210	$	210
Properties, plant and equipment, net (held for sale)	—		—		—		—		3		3
Investments and advances	—		—		—		—		—		—
Total Assets at Fair Value	$	54	$	—	$	—	$	54	$	213	$	213