Note 15 - Fair Value Measurements

12 Months Ended

Dec. 31, 2022

Notes to Financial Statements

Fair Value Disclosures [Text Block]

The following table provides the fair value measurement information for the Company’s major categories of financial assets and liabilities measured on a recurring basis (in millions):

			Fair value measurements at reporting date								Fair value measurements at reporting date
	December 31,								December 31,
	2022		Level 1		Level 2		Level 3		2021		Level 1		Level 2		Level 3
Current assets:
Other current assets (1)	$	505	$	2	$	454	$	49	$	352	$	10	$	336	$	6
Non-current assets:
Other assets (1)	$	225			$	224	$	1	$	175			$	164	$	11
Current liabilities:
Other accrued liabilities (1)	$	174			$	174			$	144			$	144
Non-current liabilities:
Other liabilities (1)	$	34			$	34			$	66			$	66

(1) Derivative assets and liabilities include foreign exchange and precious metals lease contracts which are measured using observable inputs for similar assets and liabilities.

Assets and Liabilities Measured on a Non-Recurring Basis

There were no significant financial assets or liabilities measured on a nonrecurring basis as of December 31, 2022 and 2021.