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Fair Value Measurements (Tables)
 3 Months Ended
Mar. 31, 2016
Fair Value Disclosures [Abstract]  
Fair Value, Assets Measured on Recurring Basis
Assets and liabilities measured at fair value on a recurring basis at March 31, 2016 and December 31, 2015 are in the following table:
 
 
 
 
 
 
Fair Value
 
 
Total Cost Basis
 
Level 1
 
Level 2
 
Total
Millions of dollars
 
2016
 
2015
 
2016
 
2015
 
2016
 
2015
 
2016
 
2015
Money market funds(1)
 
$
7

 
$
13

 
$
7

 
$
13

 
$
—

 
$
—

 
$
7

 
$
13

Net derivative contracts
 
—

 
—

 
—

 
—

 
(66
)
 
(42
)
 
(66
)
 
(42
)
Available for sale investments
 
12

 
11

 
26

 
25

 
—

 
—

 
26

 
25

(1)Money market funds are comprised primarily of government obligations and other first tier obligations.