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Fair Value Measurements (Tables) | 12 Months Ended
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Dec. 31, 2018
Fair Value Disclosures [Abstract] |
Fair Value, Assets Measured on Recurring Basis | Assets and liabilities measured at fair value on a recurring basis at December 31, 2018 and 2017 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 |  | 2018 |  | 2017 |  | 2018 |  | 2017 |  | 2018 |  | 2017 |  | 2018 |  | 2017
Short-term investments (1) |  | $ | 511 |  |  | $ | 455 |  |  | $ | 5 |  |  | $ | 2 |  |  | $ | 506 |  |  | $ | 453 |  |  | $ | 511 |  |  | $ | 455 |
Net derivative contracts |  | — |  |  | — |  |  | — |  |  | — |  |  | (67 | ) |  | (66 | ) |  | (67 | ) |  | (66 | )
Available for sale investments |  | 7 |  |  | 6 |  |  | 12 |  |  | 22 |  |  | — |  |  | — |  |  | 12 |  |  | 22 |
Held-to-maturity investments(2) |  | — |  |  | 60 |  |  | — |  |  | — |  |  | — |  |  | 60 |  |  | — |  |  | 60 |
(1) Short-term investments are primarily comprised of money market funds and highly liquid, low risk investments less than 90 days. (2) Held-to-maturity investments are primarily comprised of certificate of deposits with an approximate maturity term of less than six months.
Fair Value Measurements, Nonrecurring | The following table summarizes the valuation of our assets measured at fair value on a non-recurring basis as of June 30, 2018.
| Fair Value
Millions of dollars | Level 3
Measured at fair value on a non-recurring basis: | 2018 | 2017
Assets: |  |
Goodwill (3) | $ | 315 |  | $ | — |
Indefinite-lived intangible assets (4) | 384 |  | — |
Definite-lived intangible assets (5) | — |  | — |
Total level 3 assets | $ | 699 |  | $ | — |
(3) Goodwill with a carrying amount of $894 million was written down to a fair value of $315 million resulting in a goodwill impairment charge of $579 million. (4) Indefinite-lived intangible assets with a carrying amount of approximately $492 million were written down to a fair value of $384 million resulting in an impairment charge of $108 million. (5) A definite-lived intangible asset with a carrying amount of approximately $60 million was written down to a fair value of $0 million resulting in an impairment charge of $60 million.

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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://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=99377789&loc=d3e19207-110258 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (bbb) -URI http://asc.fasb.org/extlink&oid=99377789&loc=d3e19207-110258 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=99377789&loc=d3e19207-110258 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=99377789&loc=d3e19190-110258 + 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://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=99377789&loc=d3e19190-110258 + Details
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