Fair Value Measurements (Tables)

3 Months Ended

Mar. 31, 2024

Fair Value Disclosures [Abstract]

Fair Value of Assets and Liabilities Measured on Recurring Basis

	March 31, 2024		December 31, 2023		March 31, 2023
(In millions)	Level 21		Level 21		Level 21
Assets at fair value:
Marketable securities	$	153	$	98	$	85
Debt securities:
Foreign government bonds2	103		—		—
Derivatives relating to:3
Foreign currency	22		83		41
Commodity contracts	3		5		2
Total assets at fair value	$	281	$	186	$	128
Liabilities at fair value:
Derivatives relating to:3
Foreign currency	60		61		87
Commodity contracts	7		14		15
Total liabilities at fair value	$	67	$	75	$	102

1.Reflects significant other observable inputs.

2.Represents the company's investments in debt securities that are classified as available-for-sale, which are included in other assets in the interim Consolidated Balance Sheets.

3.See Note 16 - Financial Instruments for the classification of derivatives in the interim Consolidated Balance Sheets.