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Fair Value Measurements (Tables)
 12 Months Ended
Dec. 31, 2016
Fair Value Disclosures [Abstract]  
Assets and Liabilities Measured at Fair Value on a Recurring Basis
Assets and liabilities measured at fair value on a recurring basis at December 31, 2016 and 2015 are as follows:
 
 
Total Cost Basis
 
Quoted Prices In
Active Markets for
Identical Assets
(Level 1)
 
Significant Other
Observable Inputs
(Level 2)
 
Total Fair Value
Millions of dollars
 
2016
 
2015
 
2016
 
2015
 
2016
 
2015
 
2016
 
2015
Money market funds (1)
 
$
29

 
$
13

 
$
29

 
$
13

 
$
—

 
$
—

 
$
29

 
$
13

Net derivative contracts
 
—

 
—

 
—

 
—

 
41

 
(42
)
 
41

 
(42
)
Available for sale investments
 
4

 
11

 
16

 
25

 
—

 
—

 
16

 
25

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