Financing Arrangements (Tables)

9 Months Ended

Sep. 30, 2016

Financing Arrangements [Abstract]

Schedule of notes payable

The following table summarizes the carrying value of notes payable at September 30, 2016 and December 31, 2015:

Millions of dollars	September 30, 2016		December 31, 2015
Commercial paper	$	1,196	$	—
Short-term borrowings to banks	212		20
Total notes payable	$	1,408	$	20