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Employee Benefit Plans (Tables)

12 Months Ended

Dec. 31, 2016

Compensation and Retirement Disclosure [Abstract]

Reconciliation of Projected Benefit Obligations and Plan Assets

The following table provides a reconciliation of the projected benefit obligations and plan assets for our pension plans and accumulated benefit obligations for our other postretirement benefit plans:

	Millions of Dollars
	Pension Benefits													Other Benefits
	2016							2015						2016			2015
	U.S.				Int’l.			U.S.			Int’l.
Change in Benefit Obligation
Benefit obligation at January 1	$	2,791			912			2,895			941			219			203
Service cost	127				32			124			38			7			7
Interest cost	116				28			109			28			8			7
Plan participant contributions	—				3			—			3			2			1
Actuarial loss (gain)	62				237			(25	)		(10	)		(6	)		13
Benefits paid	(215		)		(19	)		(312	)		(20	)		(13	)		(12	)
Curtailment gain	—				(31	)		—			—			—			—
Acquisition of a business	—				—			—			—			8			—
Foreign currency exchange rate change	—				(107	)		—			(68	)		—			—
Benefit obligation at December 31	$	2,881			1,055			2,791			912			225			219
Change in Fair Value of Plan Assets
Fair value of plan assets at January 1	$	2,023			742			2,124			724			—			—
Actual return on plan assets	136				148			(10	)		18			—			—
Company contributions	330				40			221			63			11			11
Plan participant contributions	—				3			—			3			2			1
Benefits paid	(215		)		(19	)		(312	)		(20	)		(13	)		(12	)
Foreign currency exchange rate change	—				(118	)		—			(46	)		—			—
Fair value of plan assets at December 31	$	2,274			796			2,023			742			—			—
Funded Status at December 31	$	(607	)		(259	)		(768	)		(170	)		(225	)		(219	)

Amounts Recognized in the Consolidated Balance Sheet

Amounts recognized in the consolidated balance sheet for our pension and other postretirement benefit plans at December 31, 2016 and 2015, include:

	Millions of Dollars
	Pension Benefits													Other Benefits
	2016							2015						2016			2015
	U.S.				Int’l.			U.S.			Int’l.
Amounts Recognized in the Consolidated Balance Sheet at December 31
Noncurrent assets	$	—			—			—			20			—			—
Current liabilities	(10		)		—			(10	)		—			(10	)		(10	)
Noncurrent liabilities	(597		)		(259	)		(758	)		(190	)		(215	)		(209	)
Total recognized	$	(607	)		(259	)		(768	)		(170	)		(225	)		(219	)

Before Tax Amounts Unrecognized in Net Periodic Benefit Cost Included in Accumulated Other Comprehensive Income

Included in accumulated other comprehensive income/loss at December 31 were the following before-tax amounts that had not been recognized in net periodic benefit cost:

	Millions of Dollars
	Pension Benefits													Other Benefits
	2016							2015						2016			2015
	U.S.				Int’l.			U.S.			Int’l.
Unrecognized net actuarial loss (gain)	$	684			227			710			143			(5	)		2
Unrecognized prior service cost (credit)	3				(5	)		6			(7	)		(9	)		(10	)

Sources of Change in Other Comprehensive Income

	Millions of Dollars
	Pension Benefits													Other Benefits
	2016							2015						2016			2015
	U.S.				Int’l.			U.S.			Int’l.
Sources of Change in Other Comprehensive Income/Loss
Net gain (loss) arising during the period	$	(54	)		(129	)		(124	)		7			7			(14	)
Curtailment gain	—				31			—			—			—			—
Amortization of (gain) loss and settlements included in income	80				14			155			15			—			(1	)
Net change during the period	$	26			(84	)		31			22			7			(15	)
Prior service cost arising during the period	$	—			—			—			—			—			—
Amortization of prior service cost (credit) included in income	3				(1	)		3			(1	)		(1	)		(2	)
Net change during the period	$	3			(1	)		3			(1	)		(1	)		(2	)

Schedule of Accumulated Benefit Obligations in Excess of Fair Value of Plan Assets

Information for U.S. and international pension plans with an accumulated benefit obligation in excess of plan assets at December 31 were:

	Millions of Dollars
	Pension Benefits
	2016							2015
	U.S.				Int’l.			U.S.			Int’l.
Projected benefit obligations	$	2,881			1,055			2,791			351
Accumulated benefit obligations	2,601				880			2,485			303
Fair value of plan assets	2,274				796			2,023			160

Components of Net Periodic Benefit Cost

Components of net periodic benefit cost for all defined benefit plans are presented in the table below:

	Millions of Dollars
	Pension Benefits																			Other Benefits
	2016							2015						2014						2016			2015			2014
	U.S.				Int’l.			U.S.			Int’l.			U.S.			Int’l.
Components of Net Periodic Benefit Cost
Service cost	$	127			32			124			38			121			38			7			7			7
Interest cost	116				28			109			28			108			35			8			7			8
Expected return on plan assets	(128		)		(38	)		(138	)		(37	)		(142	)		(37	)		—			—			—
Amortization of prior service cost (credit)	3				(1	)		3			(1	)		3			(2	)		(1	)		(2	)		(1	)
Recognized net actuarial loss (gain)	72				14			75			15			40			12			—			(1	)		(2	)
Settlements	8				—			80			—			—			—			—			—			—
Total net periodic benefit cost	$	198			35			253			43			130			46			14			11			12

Amounts Included in Accumulated Other Comprehensive Income Expected to be Amortized into Net Periodic Benefit Cost Over the Next Fiscal Year

Amounts included in accumulated other comprehensive income at December 31, 2016, that are expected to be amortized into net periodic benefit cost during 2017 are provided below:

	Millions of Dollars
	Pension Benefits							Other Benefits
	U.S.				Int’l.
Unrecognized net actuarial loss	$	70			23			—
Unrecognized prior service cost (credit)	3				(1	)		(1	)

Weighted-Average Assumptions Used to Determine Benefit Obligations and Net Periodic Benefit Costs

The following weighted-average assumptions were used to determine benefit obligations and net periodic benefit costs for years ended December 31:

	Pension Benefits									Other Benefits
	2016					2015				2016		2015
	U.S.			Int’l.		U.S.		Int’l.
Assumptions Used to Determine Benefit Obligations:
Discount rate	3.95	%		2.42		4.35		3.35		3.65		4.00
Rate of compensation increase	4.00			3.78		4.00		3.65		—		—
Assumptions Used to Determine Net Periodic Benefit Cost:
Discount rate	4.35	%		3.35		3.90		3.10		4.00		3.70
Expected return on plan assets	6.75			5.31		7.00		5.15		—		—
Rate of compensation increase	4.00			3.65		4.00		3.20		—		—

Fair Values of Pension Plan Assets

The fair values of our pension plan assets at December 31, by asset class, were as follows:

	Millions of Dollars
	U.S.													International
	Level 1				Level 2			Level 3			Total			Level 1			Level 2			Level 3			Total
2016
Equity securities	$	533			—			—			533			—			—			—			—
Mutual funds	47				—			—			47			—			—			—			—
Cash and cash equivalents	21				—			—			21			5			—			—			5
Insurance contracts	—				—			—			—			—			—			13			13
Real estate	—				—			—			—			—			—			6			6
Total assets in the fair value hierarchy	601				—			—			601			5			—			19			24
Common/collective trusts measured at NAV											1,673												772
Total	$	601			—			—			2,274			5			—			19			796

	Millions of Dollars
	U.S.													International
	Level 1				Level 2			Level 3			Total			Level 1			Level 2			Level 3			Total
2015
Equity securities	$	447			—			—			447			235			—			—			235
Government debt securities	—				—			—			—			144			—			—			144
Mutual funds	41				—			—			41			—			—			—			—
Cash and cash equivalents	22				—			—			22			3			—			—			3
Insurance contracts	—				—			—			—			—			—			13			13
Real estate	—				—			—			—			—			—			6			6
Total assets in the fair value hierarchy	510				—			—			510			382			—			19			401
Common/collective trusts measured at NAV											1,513												339
Other receivables											—												2
Total	$	510			—			—			2,023			382			—			19			742

Expected Benefit Payments

The following benefit payments, which reflect expected future service, as appropriate, are expected to be paid by us in the years indicated:

	Millions of Dollars
	Pension Benefits							Other Benefits
	U.S.				Int’l.
2017	$	301			18			25
2018	294				20			26
2019	278				20			26
2020	272				21			24
2021	279				23			23
2022-2025	1,278				140			98

Share-Based Compensation Expense Recognized in Income and the Associated Tax Benefit

Total share-based compensation expense recognized in income and the associated tax benefits for the years ended December 31 were as follows:

	Millions of Dollars
	2016				2015			2014
Share-based compensation expense	$	156			144			134
Tax benefit	(59		)		(54	)		(50	)

Stock Option Activity

The following table summarizes our stock option activity from January 1, 2016, to December 31, 2016:

												Millions of Dollars
	Options			Weighted-   Average Exercise Price				Weighted-Average Grant-Date Fair Value				Aggregate Intrinsic Value
Outstanding at January 1, 2016	5,431,739			$	41.27
Granted	818,100			78.86				$	16.94
Forfeited	(24,465	)		77.85
Exercised	(1,122,244	)		30.53								$	58
Expired or canceled	—			—
Outstanding at December 31, 2016	5,103,130			$	49.48
Vested at December 31, 2016	4,625,221			$	46.60							$	185
Exercisable at December 31, 2016	3,684,109			$	39.06							$	175

Significant Assumptions Used to Calculate Grant Date Fair Market Values of Options Granted

The following table provides the significant assumptions used to calculate the grant date fair market values of options granted over the years shown below, as calculated using the Black-Scholes-Merton option-pricing model:

	2016			2015		2014
Assumptions used
Risk-free interest rate	1.71	%		1.60		1.96
Dividend yield	3.00	%		3.00		3.00
Volatility factor	28.68	%		34.17		34.97
Expected life (years)	7.08			6.66		6.23

Summary of Stock Unit Activity

The following table summarizes our RSU activity from January 1, 2016, to December 31, 2016:

								Millions of Dollars
	Stock Units			Weighted-Average Grant-Date  Fair Value				Total Fair Value
Outstanding at January 1, 2016	3,134,615			$	60.19
Granted	955,923			78.56
Forfeited	(48,877	)		75.33
Issued	(1,398,522	)		51.27				$	109
Outstanding at December 31, 2016	2,643,139			$	71.28
Not Vested at December 31, 2016	1,656,407			$	72.06

Summary of Performance Share Program Activity

The following table summarizes our PSU activity from January 1, 2016, to December 31, 2016:

								Millions of Dollars
	Performance Share Units			Weighted-Average Grant-Date  Fair Value				Total Fair Value
Outstanding at January 1, 2016	3,556,826			$	50.11
Granted	767,561			78.62
Forfeited	—			—
Issued	(317,329	)		50.03				$	26
Cash settled	(767,561	)		78.62				60
Outstanding at December 31, 2016	3,239,497			$	50.12
Not Vested at December 31, 2016	561,376			$	52.45

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