XML 162 R137.htm IDEA: XBRL DOCUMENT v3.24.0.1
FAIR VALUE MEASUREMENTS (Basis of Fair Value Measurements on a Recurring Basis) (Details) - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Investment in nonconsolidated affiliates $ 1,267 $ 1,589 $ 2,045
Debt securities 1,860    
Derivative Asset, Fair Value, Gross Asset 257 776  
Gain included in earnings 21 21  
Derivative, Amount of Hedged Item 4,479 2,279  
Debt Securities, Available-for-sale, Amortized Cost 2,138    
Long Term Debt, Accumulated Fair Value Adjustment 49 46  
Sadara Chemical Company      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Investment in nonconsolidated affiliates 128    
Quoted Prices in Active Markets for Identical Items (Level 1)      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Equity Securities, Amortized Cost Basis 5 5  
Equity Securities, Accumulated Gross Unrealized Gain, Before Tax 12 5  
Equity Securities, Accumulated Gross Unrealized Loss, Before Tax 0 0  
Quoted Prices in Active Markets for Identical Items (Level 1) | Commodities      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Derivative Assets, Accumulated Gross Unrealized Gain, Before Tax 2 63  
Derivative Assets, Accumulated Gross Unrealized Loss, Before Tax 0 0  
Derivative Liabilities, Accumulated Gross Unrealized Gain, Before Tax 0 0  
Derivative Liabilities, Accumulated Gross Unrealized Loss, Before Tax (2) (103)  
Quoted Prices in Active Markets for Identical Items (Level 1) | Corporate bonds      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Debt Securities, Available-for-sale, Amortized Cost 24 38  
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax 0 0  
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Loss, before Tax (3) (3)  
Significant Other Observable Inputs (Level 2)      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Available-for-sale Debt Securities, Amortized Cost Basis, Current 1,361 927  
Available-for-sale Debt Securities, Accumulated Gross Unrealized Gain, Current, before Tax 0 12  
Available-for-sale Debt Securities, Accumulated Gross Unrealized Loss, Current, before Tax (61) 0  
Long-Term Debt (15,024) (15,060)  
Long Term Debt, Accumulated Gross Unrealized Gain, Before Tax 1,089 1,683  
Long Term Debt, Accumulated Gross Unrealized Loss, Before Tax (747) (498)  
Significant Other Observable Inputs (Level 2) | Interest Rate Contract [Member]      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Derivative Assets, Accumulated Gross Unrealized Gain, Before Tax 136 351  
Derivative Assets, Accumulated Gross Unrealized Loss, Before Tax 0 0  
Derivative Liabilities, Accumulated Gross Unrealized Gain, Before Tax 0 0  
Derivative Liabilities, Accumulated Gross Unrealized Loss, Before Tax (154) (246)  
Significant Other Observable Inputs (Level 2) | Foreign currency      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Derivative Assets, Accumulated Gross Unrealized Gain, Before Tax 59 204  
Derivative Assets, Accumulated Gross Unrealized Loss, Before Tax 0 0  
Derivative Liabilities, Accumulated Gross Unrealized Gain, Before Tax 0 0  
Derivative Liabilities, Accumulated Gross Unrealized Loss, Before Tax (46) (119)  
Significant Other Observable Inputs (Level 2) | Commodities      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Derivative Assets, Accumulated Gross Unrealized Gain, Before Tax 60 158  
Derivative Assets, Accumulated Gross Unrealized Loss, Before Tax 0 0  
Derivative Liabilities, Accumulated Gross Unrealized Gain, Before Tax 0 0  
Derivative Liabilities, Accumulated Gross Unrealized Loss, Before Tax (68) (167)  
Significant Other Observable Inputs (Level 2) | Government debt      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Debt Securities, Available-for-sale, Amortized Cost 766 754  
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax 3 1  
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Loss, before Tax (107) (133)  
Significant Other Observable Inputs (Level 2) | Corporate bonds      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Debt Securities, Available-for-sale, Amortized Cost 1,148 1,236  
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax 17 10  
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Loss, before Tax (99) (156)  
Significant Unobservable Inputs (Level 3) | Corporate bonds      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Debt Securities, Available-for-sale, Amortized Cost 200 0  
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax 0 0  
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Loss, before Tax (89) 0  
Fair Value, Measurements, Recurring      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Total assets at fair value 4,589 4,706  
Total liabilities at fair value (15,130) (14,709)  
Fair Value, Measurements, Recurring | Quoted Prices in Active Markets for Identical Items (Level 1)      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Equity Securities, FV-NI, Current 17 10  
Fair Value, Measurements, Recurring | Quoted Prices in Active Markets for Identical Items (Level 1) | Commodities      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Derivative Asset, Fair Value, Gross Asset 2 63  
Derivative Liability, Fair Value, Gross Liability 2 103  
Fair Value, Measurements, Recurring | Quoted Prices in Active Markets for Identical Items (Level 1) | Corporate bonds      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Debt securities 21 35  
Fair Value, Measurements, Recurring | Significant Other Observable Inputs (Level 2)      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Long-term debt including debt due within one year (14,682) (13,875)  
Debt Securities, Available-for-sale, Current 1,300 939  
Fair Value, Measurements, Recurring | Significant Other Observable Inputs (Level 2) | Interest Rate Contract [Member]      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Derivative Asset, Fair Value, Gross Asset 136 351  
Derivative Liability, Fair Value, Gross Liability 154 246  
Fair Value, Measurements, Recurring | Significant Other Observable Inputs (Level 2) | Foreign currency      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Derivative Asset, Fair Value, Gross Asset 59 204  
Derivative Liability, Fair Value, Gross Liability 46 119  
Fair Value, Measurements, Recurring | Significant Other Observable Inputs (Level 2) | Commodities      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Derivative Asset, Fair Value, Gross Asset 60 158  
Derivative Liability, Fair Value, Gross Liability 68 167  
Fair Value, Measurements, Recurring | Significant Other Observable Inputs (Level 2) | Government debt      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Debt securities 662 622  
Fair Value, Measurements, Recurring | Significant Other Observable Inputs (Level 2) | Corporate bonds      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Debt securities 1,066 1,090  
Fair Value, Measurements, Recurring | Significant Unobservable Inputs (Level 3) | Equity Method Investments      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Investment in nonconsolidated affiliates 7 7  
Fair Value, Measurements, Recurring | Significant Unobservable Inputs (Level 3) | Sadara Chemical Company      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Guarantees, Fair Value Disclosure (178) (199)  
Fair Value, Measurements, Recurring | Significant Unobservable Inputs (Level 3) | Corporate bonds      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Debt securities 111 0  
Held-to-maturity Securities [Member] | Significant Other Observable Inputs (Level 2)      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Cash Equivalents, at Carrying Value 485 872  
Cash Equivalents, Accumulated Gross Unrealized Loss, Before Tax 0 0  
Cash Equivalents, Accumulated Gross Unrealized Loss, Before Tax 0 0  
Held-to-maturity Securities [Member] | Fair Value, Measurements, Recurring | Significant Other Observable Inputs (Level 2)      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Cash Equivalents, Fair Value 485 872  
Money Market Funds [Member] | Significant Other Observable Inputs (Level 2)      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Cash Equivalents, at Carrying Value 663 355  
Cash Equivalents, Accumulated Gross Unrealized Loss, Before Tax 0 0  
Cash Equivalents, Accumulated Gross Unrealized Loss, Before Tax 0 0  
Money Market Funds [Member] | Fair Value, Measurements, Recurring | Significant Other Observable Inputs (Level 2)      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Cash Equivalents, Fair Value $ 663 $ 355