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Fair Value Measurements (Tables)
 12 Months Ended
Dec. 31, 2017
Fair Value Disclosures [Abstract]  
Assets and Liabilities Measured at Fair Value on a Recurring Basis
Assets and liabilities measured at fair value on a recurring basis at December 31, 2017 and 2016 are as follows:
 
 
Total Cost Basis
 
Quoted Prices In
Active Markets for
Identical Assets
(Level 1)
 
Significant Other
Observable Inputs
(Level 2)
 
Total Fair Value
Millions of dollars
 
2017
 
2016
 
2017
 
2016
 
2017
 
2016
 
2017
 
2016
Money market funds (1)
 
$
2

 
$
29

 
$
2

 
$
29

 
$
—

 
$
—

 
$
2

 
$
29

Net derivative contracts
 
—

 
—

 
—

 
—

 
(66
)
 
41

 
(66
)
 
41

Available for sale investments
 
6

 
4

 
22

 
16

 
—

 
—

 
22

 
16

Held to maturity investments(2)
 
60

 
—

 
60

 
—

 
—

 
—

 
60

 
—

(1) Money market funds are comprised primarily of government obligations and other first tier obligations.
(2) Held to maturity investments are primarily comprised of certificate of deposits with an approximate maturity term of less than six months.