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Fair Value Measurements (Tables)

6 Months Ended

Jun. 30, 2019

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, 2019, and December 31, 2018, is as follows:

Assets and Liabilities Measured at Fair Value on a Recurring Basis

(Millions of dollars)



	At June 30, 2019								At December 31, 2018
	Total		Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3
Marketable Securities	$	58	$	58	$	—	$	—	$	53	$	53	$	—	$	—
Derivatives	2		—		2		—		283		185		98		—
Total Assets at Fair Value	$	60	$	58	$	2	$	—	$	336	$	238	$	98	$	—
Derivatives	45		27		18		—		12		—		12		—
Total Liabilities at Fair Value	$	45	$	27	$	18	$	—	$	12	$	—	$	12	$	—

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, 2019, is as follows:

Assets and Liabilities Measured at Fair Value on a Nonrecurring Basis

(Millions of dollars)



	At June 30, 2019
									Before-Tax Loss
									Three Months Ended		Six Months Ended
	Total		Level 1		Level 2		Level 3		Three Months Ended		Six Months Ended
Properties, plant and equipment, net (held and used)	$	—	$	—	$	—	$	—	$	—	$	7
Properties, plant and equipment, net (held for sale)	45		—		45		—		17		30
Investments and advances	11		—		—		11		2		5
Total Assets at Fair Value	$	56	$	—	$	45	$	11	$	19	$	42