Fair Value Measurements (Tables)

9 Months Ended

Sep. 30, 2017

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 September 30, 2017, and December 31, 2016, is as follows:

Assets and Liabilities Measured at Fair Value on a Recurring Basis

(Millions of dollars)



	At September 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	10		1		9		—		32		15		17		—
Total Assets at Fair Value	$	23	$	14	$	9	$	—	$	45	$	28	$	17	$	—
Derivatives	147		130		17		—		109		78		31		—
Total Liabilities at Fair Value	$	147	$	130	$	17	$	—	$	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 September 30, 2017, is as follows:

Assets and Liabilities Measured at Fair Value on a Nonrecurring Basis

(Millions of dollars)



	At September 30, 2017
									Before-Tax Loss
	Total		Level 1		Level 2		Level 3		Three Months Ended		Nine Months Ended
	Total		Level 1		Level 2		Level 3		Three Months Ended		Nine Months Ended
Properties, plant and equipment, net (held and used)	$	106	$	—	$	—	$	106	$	36	$	654
Properties, plant and equipment, net (held for sale)	115		—		115		—		11		290
Investments and advances	12		—		—		12		8		14
Total Assets at Fair Value	$	233	$	—	$	115	$	118	$	55	$	958