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Fair Value Measurements (Tables) | 9 Months Ended
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Sep. 30, 2024
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 at September 30, 2024, and December 31, 2023, is as follows: Assets and Liabilities Measured at Fair Value on a Recurring Basis
| At September 30, 2024 |  | At December 31, 2023
| (Millions of dollars)
| Total |  | Level 1 |  | Level 2 |  | Level 3 |  | Total |  | Level 1 |  | Level 2 |  | Level 3
Marketable Securities | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 45 |  |  | $ | 45 |  |  | $ | — |  |  | $ | — |
Derivatives - not designated | 167 |  |  | 95 |  |  | 72 |  |  | — |  |  | 152 |  |  | 24 |  |  | 128 |  |  | — |
Derivatives - designated | 18 |  |  | 18 |  |  | — |  |  | — |  |  | 7 |  |  | 7 |  |  | — |  |  | — |
Total Assets at Fair Value | $ | 185 |  |  | $ | 113 |  |  | $ | 72 |  |  | $ | — |  |  | $ | 204 |  |  | $ | 76 |  |  | $ | 128 |  |  | $ | — |
Derivatives - not designated | 128 |  |  | 78 |  |  | 50 |  |  | — |  |  | 262 |  |  | 160 |  |  | 102 |  |  | — |
Total Liabilities at Fair Value | $ | 128 |  |  | $ | 78 |  |  | $ | 50 |  |  | $ | — |  |  | $ | 262 |  |  | $ | 160 |  |  | $ | 102 |  |  | $ | — |
Fair Value Measurements, Nonrecurring | The fair value hierarchy for assets and liabilities measured at fair value on a nonrecurring basis at September 30, 2024, is as follows: Assets and Liabilities Measured at Fair Value on a Nonrecurring Basis
| At September 30, 2024 |  |  |  |
| (Millions of dollars) |  |
|  |  |  |  |  |  |  |  | Before-Tax Loss |  |  |  |
| Total |  | Level 1 |  | Level 2 |  | Level 3 |  | Three Months Ended |  | Nine Months Ended |  |  |  |
Properties, plant and equipment, net (held for sale) | $ | 663 |  |  | $ | — |  |  | $ | 663 |  |  | $ | — |  |  | $ | 145 |  |  | $ | 161 |  |  |  |  |
Investments and advances | — |  |  | — |  |  | — |  |  | — |  |  | 9 |  |  | 9 |  |  |  |  |
Total Assets at Fair Value | $ | 663 |  |  | $ | — |  |  | $ | 663 |  |  | $ | — |  |  | $ | 154 |  |  | $ | 170 |  |  |  |  |

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- Definition Tabular disclosure of assets and liabilities by class, including financial instruments measured at fair value that are classified in shareholders' equity, if any, that are measured at fair value on a nonrecurring basis in periods after initial recognition (for example, impaired assets). Disclosures may include, but are not limited to: (a) the fair value measurements recorded and the reasons for the measurements and (b) the level within the fair value hierarchy in which the fair value measurements are categorized in their entirety (levels 1, 2, 3). + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 + Details
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- Definition Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 + Details
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