Fair Value Measurements (Tables)

6 Months Ended

Jun. 30, 2017

Fair Value Disclosures [Abstract]

Assets and Liabilities Measured at Fair Value on a Recurring Basis

The fair value hierarchy for assets and liabilities measured at fair value on a recurring basis at June 30, 2017, and December 31, 2016, is as follows:

Assets and Liabilities Measured at Fair Value on a Recurring Basis

(Millions of dollars)

	At June 30, 2017								At December 31, 2016
	Total		Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3
Marketable Securities	$	13	$	13	$	—	$	—	$	13	$	13	$	—	$	—
Derivatives	43		31		12		—		32		15		17		—
Total Assets at Fair Value	$	56	$	44	$	12	$	—	$	45	$	28	$	17	$	—
Derivatives	11		1		10		—		109		78		31		—
Total Liabilities at Fair Value	$	11	$	1	$	10	$	—	$	109	$	78	$	31	$	—

Assets and Liabilities Measured at Fair Value on a Non-Recurring Basis

The fair value hierarchy for assets and liabilities measured at fair value on a nonrecurring basis at June 30, 2017, is as follows:

Assets and Liabilities Measured at Fair Value on a Nonrecurring Basis

(Millions of dollars)

	At June 30, 2017
									Before-Tax Loss
	Total		Level 1		Level 2		Level 3		Three Months Ended		Six Months Ended
Properties, plant and equipment, net (held and used)	$	490	$	—	$	—	$	490	$	537	$	618
Properties, plant and equipment, net (held for sale)	636		—		636		—		203		278
Investments and advances	5		—		2		3		3		7
Total Assets at Fair Value	$	1,131	$	—	$	638	$	493	$	743	$	903