Fair Value Measurements (Tables)

9 Months Ended

Sep. 30, 2024

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, 2024, and December 31, 2023, is as follows:

Assets and Liabilities Measured at Fair Value on a Recurring Basis

	At September 30, 2024								At December 31, 2023
	(Millions of dollars)
	Total		Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3
Marketable Securities	$	—	$	—	$	—	$	—	$	45	$	45	$	—	$	—
Derivatives - not designated	167		95		72		—		152		24		128		—
Derivatives - designated	18		18		—		—		7		7		—		—
Total Assets at Fair Value	$	185	$	113	$	72	$	—	$	204	$	76	$	128	$	—
Derivatives - not designated	128		78		50		—		262		160		102		—
Total Liabilities at Fair Value	$	128	$	78	$	50	$	—	$	262	$	160	$	102	$	—

Fair Value Measurements, Nonrecurring

The fair value hierarchy for assets and liabilities measured at fair value on a nonrecurring basis at September 30, 2024, is as follows:

Assets and Liabilities Measured at Fair Value on a Nonrecurring Basis

	At September 30, 2024
	(Millions of dollars)
									Before-Tax Loss
	Total		Level 1		Level 2		Level 3		Three Months Ended		Nine Months Ended
Properties, plant and equipment, net (held for sale)	$	663	$	—	$	663	$	—	$	145	$	161
Investments and advances	—		—		—		—		9		9
Total Assets at Fair Value	$	663	$	—	$	663	$	—	$	154	$	170