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Fair Value Measurements (Tables)
 3 Months Ended
Mar. 31, 2017
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, 2017 and December 31, 2016 are as follows:






Fair Value


Total Cost Basis

Level 1

Level 2

Total
Millions of dollars

2017

2016

2017

2016

2017

2016

2017

2016
Money market funds(1)

$
10


$
29


$
10


$
29


$
—


$
—


$
10


$
29

Net derivative contracts

—


—


—


—


(4
)

41


(4
)

41

Available for sale investments

4


4


14


16


—


—


14


16

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