LyondellBasell Industries (LYB) 10-Q 27 Apr 18 2018 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Mar. 31, 2018	Apr. 24, 2018
Document And Entity Information [Abstract]
Document Type	10-Q
Document period end date	Mar. 31, 2018
Amendment flag	false
Document Period Focus	Q1
Document Fiscal Year Focus	2,018
Current fiscal year end date	--12-31
Entity central index key	1,489,393
Entity current reporting status	Yes
Entity filer category	Large Accelerated Filer
Entity registrant name	LyondellBasell Industries N.V.
Trading symbol	LYB
Entity voluntary filers	No
Entity well known seasoned issuer	Yes
Entity common stock shares outstanding		392,069,274

Consolidated Statements of Inco

Consolidated Statements of Income - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Sales and other operating revenues:
Trade	$ 9,530	$ 8,243
Related parties	237	187
Sales revenue, net	9,767	8,430
Operating costs and expenses:
Cost of sales	8,012	6,991
Selling, general and administrative expenses	233	204
Research and development expenses	28	25
Costs and expenses	8,273	7,220
Operating income	1,494	1,210
Interest expense	(91)	(207)
Interest income	11	6
Other income, net	24	30
Income from continuing operations before equity investments and income taxes	1,438	1,039
Income from equity investments	96	81
Income from continuing operations before income taxes	1,534	1,120
Provision for income taxes	303	315
Income from continuing operations	1,231	805
Loss from discontinued operations, net of tax	0	(8)
Net income	1,231	797
Net (income) loss attributable to non-controlling interests	0	0
Net income attributable to the Company shareholders	$ 1,231	$ 797
Net income (loss) attributable to the Company shareholders - Basic:
Continuing operations (in dollars per share)	$ 3.12	$ 2
Discontinued operations (in dollars per share)	0	(0.02)
Basic (in dollars per share)	3.12	1.98
Net income (loss) attributable to the Company shareholders - Diluted:
Continuing operations (in dollars per share)	3.11	2
Discontinued operations (in dollars per share)	0	(0.02)
Diluted (in dollars per share)	$ 3.11	$ 1.98

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Consolidated Statements of Comprehensive Income [Abstract]
Net income	$ 1,231	$ 797
Other comprehensive income (loss), net of tax -
Financial derivatives	7	22
Unrealized losses on available-for-sale debt securities	0	(1)
Unrealized gains on equity securities and equity securities held by equity investees	0	9
Defined pension and other postretirement benefit plans	7	7
Foreign currency translations	40	36
Total other comprehensive income, net of tax	54	73
Comprehensive income	1,285	870
Comprehensive (income) loss attributable to non-controlling interests	0	0
Comprehensive income attributable to the Company shareholders	$ 1,285	$ 870

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Millions	Mar. 31, 2018	Dec. 31, 2017
Current assets:
Cash and cash equivalents	$ 1,840	$ 1,523
Restricted cash	0	5
Short-term investments	1,042	1,307
Accounts receivable:
Trade, net	3,642	3,359
Related parties	217	180
Inventories	4,257	4,217
Prepaid expenses and other current assets	1,070	1,147
Total current assets	12,068	11,738
Property, plant and equipment at cost	17,057	16,570
Less: Accumulated depreciation	(5,808)	(5,573)
Property, plant and equipment, net	11,249	10,997
Investments and long-term receivables:
Investment in PO joint ventures	424	420
Equity investments	1,767	1,635
Other investments and long-term receivables	22	17
Goodwill	578	570
Intangible assets, net	567	568
Other assets	221	261
Total assets	26,896	26,206
Current liabilities:
Current maturities of long-term debt	5	2
Short-term debt	77	68
Accounts payable:
Trade	2,379	2,258
Related parties	631	637
Accrued liabilities	1,506	1,812
Total current liabilities	4,598	4,777
Long-term debt	8,531	8,549
Other liabilities	2,350	2,275
Deferred income taxes	1,688	1,655
Commitments and contingencies
Stockholders' equity:
Ordinary shares, EUR 0.04 par value, 1,275 million shares authorized, 393,482,424 and 394,512,054 shares outstanding, respectively	31	31
Additional paid-in capital	10,186	10,206
Retained earnings	16,677	15,746
Accumulated other comprehensive loss	(1,301)	(1,285)
Treasury stock, at cost, 184,957,739 and 183,928,109 ordinary shares, respectively	(15,865)	(15,749)
Total Company share of stockholders' equity	9,728	8,949
Non-controlling interests	1	1
Total equity	9,729	8,950
Total liabilities and equity	$ 26,896	$ 26,206

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parentheticals) - € / shares	Mar. 31, 2018	Dec. 31, 2017
Stockholders' equity:
Ordinary shares par value (in euros per share)	€ 0.04	€ 0.04
Ordinary shares, shares authorized (in shares)	1,275,000,000	1,275,000,000
Ordinary shares, shares outstanding (in shares)	393,482,424	394,512,054
Treasury stock, shares (in shares)	184,957,739	183,928,109

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Cash flows from operating activities:
Net income	$ 1,231	$ 797
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	299	296
Amortization of debt-related costs	4	4
Charges related to repayment of debt	0	48
Share-based compensation	9	13
Equity investments -
Equity income	(96)	(81)
Distributions of earnings, net of tax	0	19
Deferred income taxes	61	47
Changes in assets and liabilities that provided (used) cash:
Accounts receivable	(196)	(432)
Inventories	(55)	(44)
Accounts payable	72	53
Other, net	(323)	(42)
Net cash provided by operating activities	1,006	678
Cash flows from investing activities:
Expenditures for property, plant and equipment	(429)	(421)
Payments for repurchase agreements	0	(324)
Proceeds from repurchase agreements	0	202
Purchases of available-for-sale debt securities	(50)	(408)
Proceeds from sales and maturities of available-for-sale debt securities	335	338
Proceeds from maturities of held-to-maturity securities	0	44
Other, net	(45)	28
Net cash used in investing activities	(189)	(541)
Cash flows from financing activities:
Repurchases of Company ordinary shares	(119)	(160)
Dividends paid	(395)	(343)
Issuance of long-term debt	0	990
Repayment of long-term debt	0	(1,000)
Debt extinguishment costs	0	(65)
Net proceeds from commercial paper	0	50
Payments of debt issuance costs	0	(7)
Other, net	(6)	(2)
Net cash used in financing activities	(520)	(537)
Effect of exchange rate changes on cash	15	8
Increase (decrease) in cash and cash equivalents and restricted cash	312	(392)
Cash and cash equivalents and restricted cash at beginning of period	1,528	878
Cash and cash equivalents and restricted cash at end of period	$ 1,840	$ 486

Consolidated Statement of Stock

Consolidated Statement of Stockholders' Equity - 3 months ended Mar. 31, 2018 - USD ($) $ in Millions	Total	Ordinary Shares	Treasury Stock	Additional Paid-in Capital	Retained Earnings	Accumulated Other Comprehensive Income (Loss)	Company Share of Stockholders' Equity	Non-Controlling Interests
Beginning balance at Dec. 31, 2017	$ 8,950	$ 31	$ (15,749)	$ 10,206	$ 15,746	$ (1,285)	$ 8,949	$ 1
Net income	1,231	0	0	0	1,231	0	1,231	0
Other comprehensive income	54	0	0	0	0	54	54	0
Share-based compensation		0	22	8	0	0	30	0
Dividends ($1.00 per share)		0	0	0	(395)	0	(395)	0
Repurchases of Company ordinary shares		0	(138)	0	0	0	(138)	0
Purchase of non-controlling interest		0	0	(28)	0	0	(28)	0
Ending balance at Mar. 31, 2018	$ 9,729	31	(15,865)	10,186	16,677	(1,301)	9,728	1
Adoption of accounting standards		$ 0	$ 0	$ 0	$ 95	$ (70)	$ 25	$ 0

Consolidated Statement of Stoc8

Consolidated Statement of Stockholders' Equity (Parentheticals)	3 Months Ended
	Mar. 31, 2018$ / shares
Consolidated Statement of Stockholders' Equity [Abstract]
Dividends per share (in dollars per share)	$ 1

Basis of Presentation

Basis of Presentation	3 Months Ended
	Mar. 31, 2018
Basis of Presentation [Abstract]
Basis of Presentation [Text Block]	1 . Basis of Presentation LyondellBasell Industries N.V., together with its consolidated subsidiaries (collectively “LyondellBasell N.V.”), is a worldwide manufacturer of chemicals and polymers, a refiner of crude oil, a significant producer of gasoline blending components and a developer and licensor of technologies for production of polymers. Unless otherwise indicated, the “Company , ” “we,” “us,” “our” or similar words are used to refer to LyondellBasell N.V. The accompanying Consolidated Fina ncial Statements are unaudited and have been prepared from the books and records of LyondellBasell N.V. in accordance with the instructions to Form 10-Q and Rule 10-1 of Regulation S-X for interim financial information. Accordingly, they do not include all of the information and notes required by accounting principles generally accepted in the United States (“U.S. GAAP”) for complete financial statements. In our opinion, all adjustments, consisting only of normal recurring adjustments, considered necessary for a fair presentation have been included. The results for interim periods are not necessarily indicative of results for the entire year. These Consolidated Financial Statements should be read in conjunction with the Consolidated Financial Statements and notes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2017 .

Accounting and Reporting Change

Accounting and Reporting Changes	3 Months Ended
	Mar. 31, 2018
Accounting and Reporting Changes [Abstract]
Accounting and Reporting Changes [Text Block]	2 . Accounting and Reporting Changes Recently Adopted Guidance Revenue Recognition —In May 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2014-09, Revenue from Contracts with Customers (Topic 606) , which supersedes the current revenue recognition requirements in ASC 606, Revenue Recognition. Under this guidance, entities should recognize revenues to depict the transfer of promised goods or services to customers in an amount that reflects the consid eration the entity expects to receive in exchange for those goods or services. This ASU also requires enhanced disclosures. This guidance including subsequently issued amendments: ASU 2015-14, ASU 2016-08, ASU 2016-10, ASU 2016-12, and ASU 2016-20, was eff ective for annual and interim periods beginning after December 15, 2017. We adopted this guidance in the first quarter of 2018. For disclosures related to the adoption of this guidance, see Note 3. Financial Instruments —In January 2016, the FASB issued A SU 2016-01, Financial Instruments-Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities . The new guidance in this ASU includes a requirement for equity investments (except those accounted for under the equity method of accounting or those that result in consolidation of the investee) to be measured at fair value with changes in fair value recognized in net income. This guidance was effective for annual and interim periods beginning on or after December 15, 2017 . We adopted this guidance prospectively in the first quarter of 2018 and recorded a cumulative-effect adjustment of $ 15 million to beginning retained earnings. Recognition and Measurement of Financial Assets and Financial Liabilities —In February 2018, th e FASB issued ASU 2018-03, Technical Corrections and Improvements to Financial Instruments – Overall (Subtopic 825-10) . This ASU was issued as part of the FASB’s ongoing agenda to make improvements clarifying the Accounting Standards Codification and provi des technical corrections and improvements related to ASU 2016-01. This ASU was effective for annual and interim periods beginning after December 15, 2017. We adopted this guidance in the first quarter of 2018 and it did not have a material impact on our C onsolidated Financial Statements. Income Taxes —In October 2016, the FASB issued ASU 2016-16, Accounting for Income Taxes: Intra-Entity Asset Transfers of Assets Other than Inventory . The ASU is aimed at reducing complexity in accounting standards. Under cu rrent GAAP, the tax effects of intra-entity asset transfers (intercompany sales) are deferred until the transferred asset is sold to a third party or otherwise recovered through use. The new guidance eliminates the exception for all intra-entity sales of a ssets other than inventory. A reporting entity would be required to recognize tax expense from the sale of assets in the seller’s tax jurisdiction when the transfer occurs, even though the pre-tax effects of that transaction are eliminated in consolidation. Any defer red tax asset that arises in the buyer’s jurisdiction would also be recognized at the time of the transfer. This guidance was effective for annual periods beginning after December 15, 2017. We adopted this guidance in the first quarter of 2018 following th e modified retrospective method and recorded a cumulative-effect adjustment of $ 9 million to beginning retained earnings . Accumulated Other Comprehensive Income— In February 2018, the FASB issued ASU 2018-02, Income Statement—Reporting Comprehensive Income (Topic 220): Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income . The guidance permits entities to reclassify tax effects stranded in accumulated other comprehensive income as a result of the U.S.-enacted “H.R.1, ” also known as the “Tax Cuts and Jobs Act” (the “Tax Act”) to retained earnings. The amendment will be effective for annual and interim periods beginning after December 15, 2018. We early adopted this guidance in the first quarter of 2018 using the specific identific ation method and recorded a cumulative-effect adjustment of $ 52 million to beginning retained earnings. Business Combinations —In January 2017, the FASB issued ASU 2017-01, Cla rifying the Definition of a Business. This ASU clarifies the definition of a busi ness with the objective of adding guidance to assist entities with evaluating whether a transaction should be accounted for as an acquisition or disposal of an asset or a business. This amendment was effective for annual and interim periods beginning after December 15, 2017. The prospective adoption of this guidance in the first quarter of 2018 did not have a material impact on our Consolidated Financial Statements. Other Income — Gains and Losses from the Derecognition of Nonfinancial Assets— In February 2017 , the FASB issued ASU 2017-05, Clarifying the Scope of Asset Derecognition Guidance and Accounting for Partial Sales of Nonfinancial Assets . The guidance provides clarification about the term in substance nonfinancial asset , other aspects of the scope of S ubtopic 610-20 Other Income , and how an entity should account for partial sales of nonfinancial assets once the amendments in AS U 2014-09 become effective. This amendment was effective for annual and interim periods beginning after December 15, 2017. Th e retrospective adoption of this guidance in the first quarter of 2018 did not have a material impact on our Consolidated Financial Statements. Compensation—Retirement Benefits —In March 2017, the FASB issued ASU 2017-07, Improving the Presentation of Net P eriodic Pension Cost and Net Periodic Postretirement Benefit Cost . The guidance requires changes in presentation of current service cost and other components of net benefit cost. This amendment was effective for annual and interim periods beginning after D ecember 15, 2017. The retrospective adoption of this guidance in the first quarter of 2018 did not have a material impact on our Consolidated Financial Statements. Derivatives and Hedging— In August 2017, the FASB issued ASU 2017-12, Targeted Improvements t o Accounting for Hedging Activities. The new guidance makes more financial and nonfinancial hedging strategies eligible for hedge accounting and amends the presentation and disclosure requirements while changing how companies assess effectiveness. These am endments will be effective for annual and interim periods beginning after December 15, 2018. The early adopt ion of this guidance in the first quarter of 2018 did not have a material impact on our Consolidated Financial Statements. Accounting Guidance Is sued But Not Adopted as of March 31, 2018 Leases —In February 2016, the FASB issued ASU 2016-02, Leases (Topic 842) which supersedes the existing guidance for lease accounting in ASC 840, Leases . Under the new guidance, for leases with a term longer than 12 months a lessee should recognize a lease liability and a right-of-use asset representing its right to use the underlying asset for the lease term. Topic 842 retains a classification distinction between finance leases and operating leases, with the classifi cation affecting the pattern of expense recognition in the income statement. This ASU also requires enhanced disclosures. A modified retrospective transition approach is required for annual and interim periods beginning on or after December 15, 2018. Early adoption is permitted. We are currently assessing the impact of this new guidance on our Consolidated Financial Statements via review of existing lease contracts and other purchase obligations that contain embedded lease features, which are generally clas sified as operating leases under the existing guidance. We will complete any required changes to our systems and processes, including updating our internal controls during 2018. In 2018, the FASB also issued ASU 2018-01, Land Easement Practical Expedient f or Transition to Topic 842. Under this guidance, an optional transition practical expedient is available whereby existing or expired land easements that were not previously accounted for as leases under Topic 840 are not required to be evaluated under Topi c 842. We will evaluate the application of this ASU together with the overall assessment of Topic 842. Financial Instruments —In June 2016, the FASB issued ASU 2016-13, Financial Instruments—Credit Losses (Topic 326) : Measurement of Credit Losses on Financial Instruments . This amendment requires financial assets measured at amortized cost basis to be presented at the net amount expected to be collected, resulting in the use of a current expected credit loss (“CECL”) m odel when measuring an impairment of financial instruments. Credit losses related to available-for-sale securities should be recorded in the consolidated income statement through an allowance for credit losses. Estimated credit losses utilizing the CECL mo del are based on reasonable use of historical experience, current conditions and forecasts that affect the collectability of reported financial assets. This ASU also modifies the impairment model for available-for-sale debt securities by eliminating the co ncept of “other than temporary” as well as providing a simplified accounting model for purchased financial assets with credit deterioration since their origination. The guidance will be effective for public entities for annual and interim periods beginning after December 15, 2019. Early adoption is permitted. We are currently assessing the impact of the amendment in this guidance on our Consolidated Financial Statements. Receivables—Nonrefundable Fees and Other Costs —In March 2017, the FASB issued ASU 2017- 08, Premium Amortization of Purchased Callable Debt Securities . This new guidance requires the premium on callable debt securities to be amortized to the earliest call date. Under current requirements, premiums on callable debt securities are generally amo rtized over the contractual life of the security. The amendment will be effective for public entities for annual and interim periods beginning after December 15, 2018. Early adoption is permitted. We are currently assessing the impact of this guidance on o ur Consolidated Financial Statements.

Revenues

Revenues	3 Months Ended
	Mar. 31, 2018
Revenues [Abstract]
Revenue from contract with customer [Text Block]	3 . Revenues Adoption of new revenue accounting guidance— On January 1, 2018, we adopted the accounting standard ASC 606, Revenue from Contracts with Customers and all related amendments using the modified retrospective method applied to those contracts which were not completed as of January 1, 2018 . We recognized a n $ 18 million adjustment to the beginning retained earnings balance for the cumulative effect of initially applying the new standard. Comparative information has not been restated and continues to be reported under the accounting standards in effect for those periods. The impact of the adoption of th is new guidance was immaterial for the three months ended March 31, 2018, and we expect the impact to be immaterial to o ur Consolidated Financial Statements on an ongoing basis. Revenue Recognition— Substantially all our revenues are derived from contracts with customers. We account for contracts when both parties have approved the contract and are committed to perform, the rights of the parties and payment terms have been identified , the contract has commercial substance, and collectability is probable. Payments are typically required within a short period following the transfer of control over the product to the customer. We occasionally require customers to prepay purchases to ensure collectability. Such prepayments do not represent financing arrangements , and payment and fulfillment of the performance obligation occurs within a short time frame. We elected to apply the pr actical expedient , which permits us not to adjust the promised amount of consideration for the effects of a significant financing component when , at contract inception , we expect that payment will occur in one year or less. Revenue is recognized when obli gations under the terms of a contract with our customer are satisfied. This generally occurs at the point in time when performance obligations are fulfilled and control transfers to the customer. In most instances, control transfers upon transfer of risk o f loss and title to the customer, which usually occurs when we ship products to the customer from our manufacturing facility. Revenue is measured as the amount of consideration we expect to receive in exchange for transferring goods. Customer incentives ar e generally based on volumes purchased and recognized over the period earned . Sales, value added, and other taxes that we collect concurrent with revenue-producing activities are excluded from the transaction price as they represent amounts collected on be half of third parties . Incidental costs incurred to obtain a contract are immaterial in the context of the contract a nd are recognized as expense. We have elected the practical expedient to recognize the incremental costs of obtaining a contract as an expe nse when incurred if the amortization period of the asset that we otherwise would have recognized is one year or less. Shipping and handling costs are treated as a fulfillment cost and not a separate performance obligation. Contract B alances— Contract ba lances typically arise when a difference in timing between the transfer of control to the customer and receipt of consideration occurs. Our contract liabilities, which are reflected in the Consolidated Financial Statements as Accrued liabilities and Other liabilities , consist p rimarily of customer payments for products or services received before the transfer of control to the customer occurs. These contract liabilities were $ 144 million as of March 31, 2018. Revenue recognized in the reporting period included in the contract li ability balance at the beginning of the period is immaterial. Disaggregation of Revenues — We participate globally across the petrochemical value chain and are an industry leader in many of our product lines. Our chemicals businesses consist primarily of la rge processing plants that convert large volumes of liquid and gaseous hydrocarbon feedstocks into plastic resins and other chemicals. Our chemical products tend to be basic building blocks for other chemicals and plastics, while our plastic products are t ypically used in large volume applications. Our refining business consists of our Houston refinery, which processes crude oil into refined products such as gasoline, diesel and jet fuel. Petrochemical products generally follow global price trends of crud e oil, natural gas liquids and/or natural gas. Price volatility significantly affects our revenues, as our sales contract s are tied to global commodity indexes. Other factors such as global industry capacities and operating rates, foreign exchange rates an d worldwide geopolitical trends also affect our revenues. The following table presents our revenues disaggregated by key products for the three months ended March 31, 2018 : Millions of dollars Sales and other operating revenues: Olefins & co-products $ 1,020 Polyethylene 1,978 Polypropylene 2,331 PO & derivatives 649 Oxyfuels and related products 795 Intermediate chemicals 848 Refined products 2,002 Other 144 Total $ 9,767 The following table presents our revenues disaggregated by geography, based upon the location of the customer , for the three months ended March 31, 2018 : Millions of dollars Sales and other operating revenues: United States $ 4,653 Germany 821 Italy 394 France 350 Mexico 478 The Netherlands 276 Other 2,795 Total $ 9,767 Transaction Price Allocated to the Remaining Performance Obligations —We have elected to exclude contracts which have an initial term of one year or less from this disclosure. Our contracts with customers are commodity supply arrangements that settle based on market prices at future delivery dates; therefore, transaction prices are entirely variable. Transaction prices are known at the time revenue is recognized since they are generally determined by the commodity price index at a specific date, at mon th-end or at the month average once products are shipped to our customers. Future estimates of transaction prices for disclosure purposes are substantially constrained as they are highly susceptible to factors outside our influence, including volatility in commod ity markets, industry production capacities and operating rates, planned and unplanned industry operating interruptions, foreign exchange rates and worldwide geopolitical trends.

Accounts Receivable

Accounts Receivable	3 Months Ended
	Mar. 31, 2018
Accounts Receivable [Abstract]
Accounts Receivable [Text Block]	4 . Accounts Receivable Our allowance for doubtful accounts receivable, which is reflected in the Consolidated Balance Sheets as a reduction of accounts receivable, was $ 17 million at March 31, 2018 and December 31, 2017 .

Inventories

Inventories	3 Months Ended
	Mar. 31, 2018
Inventories [Abstract]
Inventories [Text Block]	5 . Inventories Inventories consisted of the following components: March 31, December 31, Millions of dollars 2018 2017 Finished goods $ 2,849 $ 2,932 Work-in-process 190 142 Raw materials and supplies 1,218 1,143 Total inventories $ 4,257 $ 4,217

Debt

Debt	3 Months Ended
	Mar. 31, 2018
Debt [Abstract]
Debt [Text Block]	6 . Debt Long-term loans, notes and other long-term debt, net of unamortized discount and debt issuance cost, consisted of the following: March 31, December 31, Millions of dollars 2018 2017 Senior Notes due 2019, $1,000 million, 5.0% ($2 million of debt issuance cost) $ 963 $ 961 Senior Notes due 2021, $1,000 million, 6.0% ($7 million of debt issuance cost) 967 981 Senior Notes due 2024, $1,000 million, 5.75% ($8 million of debt issuance cost) 992 992 Senior Notes due 2055, $1,000 million, 4.625% ($16 million of discount; $11 million of debt issuance cost) 973 973 Guaranteed Notes due 2044, $1,000 million, 4.875% ($11 million of discount; $9 million of debt issuance cost) 980 979 Guaranteed Notes due 2043, $750 million, 5.25% ($21 million of discount; $7 million of debt issuance cost) 722 722 Guaranteed Notes due 2023, $750 million, 4.0% ($6 million of discount; $3 million of debt issuance cost) 741 740 Guaranteed Notes due 2027, $300 million, 8.1% 300 300 Guaranteed Notes due 2022, €750 million, 1.875% ($3 million of discount; $3 million of debt issuance cost) 919 894 Guaranteed Notes due 2027, $1,000 million, 3.5% ($9 million of discount; $8 million of debt issuance cost) 953 984 Other 26 25 Total 8,536 8,551 Less current maturities (5) (2) Long-term debt $ 8,531 $ 8,549 F air value hedging adjustments associated with the fair value hedge accounting of our fixed-for-floating interest rate swaps for the applicable periods are as follows: Cumulative Fair Value Hedging Adjustment Included Gains (Losses) in Carrying Amount of Debt Three Months Ended Inception March 31, March 31, December 31, Millions of dollars Year 2018 2017 2018 2017 Senior Notes due 2019, 5.0% 2014 $ (1) $ (36) $ 35 $ 36 Senior Notes due 2021, 6.0% 2016 14 2 26 12 Guaranteed Notes due 2027, 3.5% 2017 31 (1) 30 (1) Total $ 44 $ (35) $ 91 $ 47 The cumulative fair value hedging adjustment remaining at March 31, 2018 and December 31, 2017 associated with our Senior Notes due 2019 includes $ 25 million and $ 31 million , respectively, for hedges that have been discontinued. The $36 million loss in the three months ended March 31, 2017 included a $ 44 million charge for the write-off of the cumulative fair value hedging adjustment related to our 5% Senior Notes due 2019 described below. These fair value adjustments are recognized in Interest expense in the Consolidated Statements of Income. Short-term loans, notes, and other short-term debt consisted of the following: March 31, December 31, Millions of dollars 2018 2017 $2,500 million Senior Revolving Credit Facility $ - - $ - - $900 million U.S. Receivables Securitization Facility - - - - Commercial paper - - - - Precious metal financings 73 64 Other 4 4 Total short-term debt $ 77 $ 68 Long-Term Debt Guaranteed Notes due 2027— In March 2017 , LYB International Finance II B.V. (“LYB Finance II ”), a direct, 100 % owned finance subsi diary of LyondellBasell Industries N.V., as defined in Rule 3-10(b) of Regulation S-X, issued $ 1,000 million of 3.5 % guaranteed notes due 2027 at a discounted price of 98.968 %. Senior Notes due 2019 ―In March 2017, we redeemed $ 1,000 million aggregate principal amount of our outstanding 5% senior notes due 2019 , and paid $ 65 million in make-whole premiums. In co njunction with the redemption of these notes, we recognized non-cash charges of $ 4 million for the write-off of unamortized debt issuance costs and $ 44 million for the write-off of the cumulative fair value hedge accounting adjustment related to the redeem ed notes. Short-Term Debt Senior Revolving Credit Facility ― Our $2,500 million revolving credit facility, which expires in June 2022 , may be used for dollar and euro denominated borrowings, has a $ 5 00 million sublimit for dollar and euro denominated lette rs of credit , a $ 1,000 million uncommitted accordion feature, and supports our commercial paper program . The aggregate balance of outstanding borrowings, including amounts outstanding under our commercial paper program, and letters of credit under this fac ility may not exceed $2,500 million at any given time. Borrowings under the facility bear interest at a Base Rate or LIBOR, plus an applicable margin. Additional fees are incurred for the average daily unused commitments. The facility contains customary co venants and warranties, including specified restrictions on indebtedness and liens. In addition, we are required to maintain a leverage ratio at the end of every fiscal quarter of 3.50 to 1.00 or less for the period covering the most recent four quarters. We are in compliance with these covenants as of March 31, 2018 . Commercial Paper Program ― We have a commercial paper program under which we may issue up to $ 2,500 million of privately placed, unsecured, short-term promissory notes (“commercial paper”). Thi s program is backed by our $2,500 million Senior Revolving Credit Facility. Proceeds from the issuance of commercial paper may be used for general corporate purposes, including dividends and share repurchases. U.S. Receivables Securitization Facility ― Our U.S. accounts receivable securitization facility , which expires in August 2018 , has a purchase limit of $900 million in addition to a $ 300 million uncommitted accordion feature . This facility provides liquidity through the sale or contribution of trade receivables by certain of our U.S. subsidiaries to a wholly owned, bankruptcy-remote subsidiary on an ongoing basis and without recourse . The bankruptcy-remote subsidiary may then, at its option and subject to a borrowing base of eligible receivables, sell undivided interests in the pool of trade receivables to financial institutions participating in the facility. In the event of liquidation, the bankruptcy-remote subsidiary’s assets will be used to satisfy the claims of its creditors prior to any assets or value in the bankruptcy-remote subsidiary becoming available to us. We are responsible for servicing the receivables. This facility also provides for the issuance of letters of credit up to $ 20 0 million. The term of the securitization facility may be extended in accordance with the terms of the agreement. The facility is also subject to customary warranties and covenants, including limits and reserves and the maintenance of specified financial r atios. We are required to maintain a leverage ratio at the end of every fiscal quarter of 3.50 to 1.00 or less for the period covering the most recent four quarters. Performance obligations under the facility are guaranteed by the parent company. Additiona l fees are incurred for the average daily unused commitments. At March 31, 2018 , there were no borrowings or letters of credit under the facility. Weighted Average Interest Rate ― At March 31, 2018 and December 31, 2017 , our weighted average int erest rate on outstanding short-term debt was 4.1 % and 1.8 % , respectively . Debt Discount and Issuance Costs ― In the three months ended March 31, 2018 and 2017 , amortization of debt discounts and debt issuance costs resulted i n amortization expense of $ 4 million and $ 8 million, respectively, which is included in Interest expense in the Consolidated Statements of Income. Other Information ― On December 28, 2016, LYB International Finance III, LLC was formed as a private company w ith limited liability in Delaware . LYB International Finance III, LLC is a direct, 100 % owned finance subsidiary of LyondellBasell N.V., as defined in Rule 3-10(b) of Regulation S-X. Any debt securities issued by LYB International Finance III, LLC will be fully and unconditionally guaranteed by LyondellBasell N.V.

Financial Instruments and Fair

Financial Instruments and Fair Value Measurements	3 Months Ended
	Mar. 31, 2018
Financial Instruments and Fair Value [Abstract]
Financial Instruments and Fair Value Measurements [Text Block]	7 . Financial Instruments and Fair Value Measurements We are exposed to market risks, such as changes in commodity pricing, currency exchange rates and interest rates. To manage the volatility related to these exposures, we selectively enter into derivative transactions pursuant to our risk management policies. A summary of our financial instruments, risk management policies, derivative instruments, hedging activities and fair value measurement can be found in Notes 2 and 14 to our Consolida ted Financial Statements included in our Annual Report on Form 10-K for the year ended December 31, 2017. If applicable, updates have been included in the respective sections below. At March 31, 2018 and December 31, 2017 , we had marketable securities classified as Cash and cash equivalents of $ 1,312 million and $ 1,035 million, respectively. Foreign Currency Gain (Loss) ―Other income, net, in the Consolidated Statements of Income reflected foreign currency gains of $ 6 million for the three months ended March 31, 2018 and foreign currency losses of $ 5 million for the three months ended March 31, 2017 . Financial Instruments Measured at Fair Value on a Recurring Basis — The following table summarizes financial instruments outstanding as of March 31, 2018 and December 31, 2017 that are measured at fair value on a recurring basis: March 31, 2018 December 31, 2017 Notional Fair Notional Fair Balance Sheet Millions of dollars Amount Value Amount Value Classification Assets– Derivatives designated as hedges: Foreign currency $ 498 $ 54 $ - - $ 26 Prepaid expenses and other current assets Foreign currency - - - - 2,000 25 Other assets Interest rates - - 26 - - 20 Prepaid expenses and other current assets Interest rates 600 13 650 1 Other assets Derivatives not designated as hedges: Commodities 74 5 77 20 Prepaid expenses and other current assets Foreign currency 377 2 19 - - Prepaid expenses and other current assets Non-derivatives: Available-for-sale 696 696 960 960 Short-term investments debt securities Equity securities 350 346 350 347 Short-term investments Total $ 2,595 $ 1,142 $ 4,056 $ 1,399 Liabilities– Derivatives designated as hedges: Commodities $ 71 $ 7 $ 97 $ 8 Accrued liabilities Commodities 3 - - 5 - - Other liabilities Foreign currency 139 52 139 29 Accrued liabilities Foreign currency 2,950 237 950 140 Other liabilities Interest rates - - 5 - - 5 Accrued liabilities Interest rates 3,400 67 3,350 58 Other liabilities Derivatives not designated as hedges: Commodities 65 8 108 29 Accrued liabilities Foreign currency 372 5 995 11 Accrued liabilities Non-derivatives: Performance share 28 28 23 23 Accrued liabilities awards Performance share 1 1 27 27 Other liabilities awards Total $ 7,029 $ 410 $ 5,694 $ 330 All derivatives and available-for-sale debt securities in the tables above are classified as Level 2. Our limited partnership investments included in our equity securities discussed below, are measured at fair value using the net asset value (“NAV”) per share (or its equivalent) practical expedient and have not been classified in the fair value hierarchy. At March 31, 2018 , our outstanding foreign currency and commodity contracts not designated as hedges mature from April 2018 to June 2018 and from April 2018 to January 2019, respectively. Financial Instruments Not Measured at Fair Value on a Recurring Basis —The following table presents the carrying value and estimated fair value of our financial instruments that are not measured at fair value on a recurring basis as of March 31, 2018 and December 31, 2017. Short-term loans receivable, which represent our repurchase agreements, and short-term and long-term debt are recorded at amortized cost in the Consolidated Balance Sheets. The carrying fair values of short-term and long-term debt e xclude capital leases and commercial paper. March 31, 2018 December 31, 2017 Carrying Fair Carrying Fair Millions of dollars Value Value Value Value Non-derivatives: Assets: Short-term loans receivable $ 586 $ 586 $ 570 $ 570 Liabilities: Short-term debt $ 73 $ 71 $ 64 $ 75 Long-term debt 8,510 9,158 8,526 9,442 Total $ 8,583 $ 9,229 $ 8,590 $ 9,517 All financial instruments in the table above are classified as Level 2. There were no transfers between Level 1 and Level 2 for any of our financial instruments during the three months ended March 31, 2018 and the year ended December 31, 2017 . Net Investment Hedges— In March 2018, we entered into € 400 million of foreign currency contracts that were designated as net investment hedges. These foreign currency contracts expire June 15, 2018. In 2017, we entered into € 617 million of foreign currency contracts that were designated as net investment hedges. In 2016, we also issued euro denominated notes payable due 2022 with notional amounts totaling € 750 million that were designated as a net investment hedge. At March 31, 2018 and De cember 31, 201 7 , we had outstanding foreign currency contracts with an aggregate notional value of € 1,142 million ($ 1,287 million) and € 742 million ($ 7 89 million), respectively, designated as net investment hedges. In addition, at March 31, 2018 and December 31, 2017 we had outstanding foreign-currency denominated debt, with notional amounts totaling € 750 million ($ 925 million) and € 750 million ($ 899 million), respectively, designated as a net investment hedge. There was no ineff ectiveness recorded during the three months ended March 31, 2017 related to these hedging relationships . Cash Flow Hedges— The following table summarizes our cash flow hedges outstanding at March 31, 2018 and December 31, 201 7 : March 31, 2018 December 31, 2017 Notional Notional Expiration Millions of dollars Value Value Date Foreign currency $ 2,300 $ 2,300 2021 to 2027 Interest rates 1,000 1,000 2019 Commodities 74 102 2018 to 2019 There was no ineffectiveness recorded during the three months ended March 31, 2017 related to these hedging rel ationships. As of March 31, 2018 , less than $1 million (on a pretax basis) is scheduled to be reclassified as a decrease to interest expense and $ 7 million (on a pretax basis) is scheduled to be reclassified as an increase to cost of sales over the next twelve months. Fair Value Hedges — In February 2017, we entered into U.S. dollar fixed-for-floating interest rate swaps to mitigate changes in the fair value of our $ 1,000 million 3.5 % guaranteed notes due 2027 associated with the risk of variability in the 3 Month USD LIBOR rate (the benchmark interest rate). The fixed-rate and variable-rate are settled semi-annually and quarterly, respectively. In March 2017, concurrent with the redemption of $ 1,000 million of our outstanding 5 % senior notes due 2019 , we dedesignated the related $2,000 million fair value hedge and terminated swaps in the notional amount of $1,000 million. At the same time, we redesignated the re maining $1,000 million notional amount of swaps a s a fair value hedge of the remaining $1,000 million of 5% senior notes outstanding. W e had outstanding interest rate contracts with aggregate notional amounts of $ 3,000 million a t March 31, 2018 and December 31, 201 7 , respectively, designated as fair value hedges. Our interest rate contracts outstanding at March 31, 2018 mature from 20 19 to 2027 . There was no ineffectiveness recorded for the three months ended March 31, 2017 related to these hedging relationships. Impact on Earnings and Other Comprehensive Income — The following table summarizes the pre-tax effect of derivative instruments and non-derivative instruments on Other comprehensive income and earnings for the three months ended March 31 : Effect of Financial Instruments Gain (Loss) Gain (Loss) Gain (Loss) Recognized Reclassified from Recognized Income in AOCI AOCI to Income in Income Statement Millions of dollars 2018 2017 2018 2017 2018 2017 Classification Derivatives designated as net investment hedges: Foreign currency $ (17) $ (22) $ - - $ - - $ 5 $ - - Interest expense Derivatives designated as cash flow hedges: Commodities (3) (2) 4 - - - - - - Cost of sales Foreign currency (108) (7) 62 25 8 12 Other income, net; Interest expense Interest rates 49 7 - - - - - - - - Interest expense Derivatives designated as fair value hedges: Interest rates - - - - - - - - (44) (1) Interest expense Derivatives not designated as hedges: Commodities - - - - - - - - 1 (1) Sales and other operating revenues Commodities - - - - - - - - (4) (11) Cost of sales Foreign currency - - - - - - - - (19) (1) Other income, net Non-derivatives designated as net investment hedges: Long-term debt (25) (10) - - - - - - - - Other income, net Total $ (104) $ (34) $ 66 $ 25 $ (53) $ (2) The derivative amounts excluded from effectiveness testing for foreign currency contracts designated as net investment hedges recognized in other comprehensive income and interest income for the three months ended March 31, 2018 were $ 4 million and $ 5 million , respectively. For the three months ended March 31, 2018, a $ 62 million gain for our foreign currency contracts designated as cash flow hedges was reclassified from AOCI to Other income, net. T he pre - tax effect of the periodic receipt of fixed i nterest and payment of variable interest associated with our fixed-for-floating interest rate swaps resulted in an additional gain recognized in Interest expense of $ 3 million and $ 7 million during the three months ended March 31, 2018 and 2017 , respective ly . Investments in Available-for-sale Debt Securities — The following table summarizes the amortized cost, gross unrealized gains and losses, and fair value of our available-for-sale debt securities that are outstanding as of March 31, 2018 and December 31, 2017 : March 31, 2018 Gross Gross Unrealized Unrealized Fair Millions of dollars Cost Gains Losses Value Available-for-sale debt securities: Commercial paper $ 50 $ - - $ - - $ 50 Bonds 646 1 (1) 646 Total available-for-sale debt securities $ 696 $ 1 $ (1) $ 696 December 31, 2017 Gross Gross Unrealized Unrealized Fair Millions of dollars Cost Gains Losses Value Available-for-sale securities: Commercial paper $ 180 $ - - $ - - $ 180 Bonds 630 - - - - 630 Certificates of deposit 150 - - - - 150 Limited partnership investments 350 2 (5) 347 Total available-for-sale securities $ 1,310 $ 2 $ (5) $ 1,307 N o losses related to other-than-temporary impairments of our available-for-sale debt securities have been recorded in Accumulated other comprehensive loss during the three months ended March 31, 2018 and the year ended December 31, 2017 . As of March 31, 2018 , our available-for-sale debt securities had the following maturities: commercial paper securities had maturities of three months and bonds had maturities between three and thirty-one months . The proceeds from maturities and sales of our available-for-sale debt securities during the three months ended March 31, 2018 and 2017 are summarized in the following table: Three Months Ended March 31, Millions of dollars 2018 2017 Proceeds from maturities of securities $ 335 $ 338 Proceeds from sales of securities - - - - No gain or loss was realized in connection with the sales of our available-for-sale debt securities during the three months ended March 31, 2018 and 2017. During the three months ended March 31, 2017, we had maturities of our held-to-maturity securities of $ 44 million. The following table summarizes the fair value and unrealized losses related to available-for-sale debt securities that were in a continuous unrealized loss position for less than and greater than twelve months as of March 31, 2018 and December 31, 2017 : March 31, 2018 Less than 12 months Greater than 12 months Fair Unrealized Fair Unrealized Millions of dollars Value Loss Value Loss Available-for-sale debt securities: Bonds $ 247 $ (1) $ 25 $ - - December 31, 2017 Less than 12 months Greater than 12 months Fair Unrealized Fair Unrealized Millions of dollars Value Loss Value Loss Available-for-sale securities: Limited partnership investments $ 117 $ (5) $ - - $ - - Investments in Equity Securities —Our equity securities primarily consist of our limited partnership investments, which include investments in, among other things, equities and equity related securities, debt securities, credit instruments, global interest rate products, currencies, commodities, futures, options, warrants and swaps. These investments may be redeemed at least monthly with advance notice ranging up to ninety days. The following table summ arizes the portion of unrealized gains and losses for the equity securities that are outstanding as of March 31, 2018: Millions of dollars Net losses recognized during the period $ (1) Less: Net gains (losses) recognized during the period on securities sold - - Unrealized losses recognized during the period $ (1)

Pension and Other Postretiremen

Pension and Other Postretirement Benefits	3 Months Ended
	Mar. 31, 2018
Pension and Other Postretirement Benefits [Abstract]
Pension and Other Postretirement Benefits [Text Block]	8 . Pension and Other Postretirement Benefits Net periodic pension benefits included the following cost components for the periods presented : Three Months Ended March 31, 2018 2017 Millions of dollars U.S. Non-U.S. U.S. Non-U.S. Service cost $ 13 $ 9 $ 12 $ 9 Interest cost 15 8 15 5 Expected return on plan assets (30) (6) (30) (4) Actuarial and investment loss amortization 5 3 5 4 Net periodic benefit costs $ 3 $ 14 $ 2 $ 14 Net periodic other postretirement benefits included the following cost components for the periods presented: Three Months Ended March 31, 2018 2017 Millions of dollars U.S. Non-U.S. U.S. Non-U.S. Service cost $ 1 $ 1 $ 1 $ 1 Interest cost 2 - - 2 - - Actuarial loss amortization - - - - - - 1 Net periodic benefit costs $ 3 $ 1 $ 3 $ 2 The components of net periodic benefit cost other than the service cost component are included in Other income, net in the Consolidated Statements of Income.

Income Taxes

Income Taxes	3 Months Ended
	Mar. 31, 2018
Income Taxes [Abstract]
Income Taxes [Text Block]	9 . Income Taxes Our effective income tax rate for the three months ended March 31, 2018 was 19.8% compared with 28.1% for the three months ended March 31, 2017 . Our effective income tax rate fluctuates based on, among other factors, changes in statutory tax rates, changes in pretax income in countries with varying statutory tax rates, changes in valuation allowances, changes in foreign exchange gains/losses, the amount of exempt income, and changes in unrecognized tax benefit s associated with uncertain tax positions. Compared with the three months ended March 31, 2017 , the low er effective tax rate for the three months ended March 31, 2018 was primarily attributable to the impact of the reduction to the U.S. federal statutory tax rate as a result of the U.S.-enacted “H.R.1 , ” also known as the “Tax Act” and increases in exempt income, partially offset by the repeal of the U.S. domestic production activity deduction. We monitor income tax developments in countries where we conduct b usiness. On December 22, 2017 , the Tax Act was enacted with some provisions effective as early as 2017 while o thers were delayed until 2018. This change in U.S. tax law included a reduction in the federal corporate tax rate from 35 % to 21 % for years beginn ing after 2017, which resulted in the remeasurement of our U.S. net deferred income tax liabilities. Our 2017 income tax provision included a provisional estimate of $ 819 million income tax benefit related to the remeasurement of our U.S. net de ferred inco me tax liabilities. The impact of the Tax Act may differ from this reasonable estimate due to additional guidance that may be issued, changes in assumptions made, and the finalization of certain U.S. income tax positions with the filing of our 2017 U.S. in come tax return which will allow for the ability to conclude whether any further adjustments are necessary to our deferred tax assets and liabilities. Any adjustments to these provisional amounts will be reported as a component of income tax expense in the reporting period in which any such adjustments are identified which will be no later than the fourth quarter of 2018. We will continue to analyze the Tax Act to determine th e full effects of the new law. In September 2016, the United Kingdom enacted provi sions (the so called “anti-hybrid provisions”), effective for years beginning January 1, 2017, that resulted in changes to our internal financing structure which did not materially impact our Co nsolidated Financial Statements . In addition, in October 2016 the U.S. Treasury issued final Section 385 debt-equity regulations that may impact our internal financings in future years. Pursuant to a recent Executive Order, the Treasury Department reviewed these regulations and determined to delay but retain these re gulations, subject to further review after enactment of U.S. tax reform. There has been an increase in attention, both in the U.S. and globally, to the tax practices of multinational companies, including the European Union’s state aid investigations and pr oposals by the Organization for Economic Cooperation and Development with respect to base erosion and profit shifting. Such attention may result in additional legislative changes that could adversely affect our tax rate. Other than the recently enacted Tax Act, m anagement does not believe that recent changes in income tax laws will have a material impact on our Consolidated Financial Statements, although new or proposed changes to tax laws could affect our tax liabilities in the future.

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Mar. 31, 2018
Commitments and Contingencies [Abstract]
Commitments and Contingencies [Text Block]	10 . Commitments and Contingencies Financial Assurance Instruments —We have obtained letters of credit, performance and surety bonds and have issued financial and performance guarantees to support trade payables, potential liabilities and other obligations. Considering the frequency of claims made against the financial instruments we use to support our obligations, and the magnitude of those financial instruments in light of our current financial position, management does not expect that any claims against or draws on these instruments would have a material adverse effect on our Consolidated Financial Statements. We have not experienced any unmanageable difficulty in obtaining the require d financial assurance instruments for our current operations. Environmental Remediation —Our accrued liability for future environmental remediation costs at current and former plant sites and other remediation sites totaled $ 102 million as of March 31, 2018 and December 31, 2017 . At March 31, 2018 , the accrued liabilities for individual sites range from less than $ 1 million to $ 19 million . The remediation expenditures are expected to occu r over a number of years, and not to be concentrated in any single year. In our opinion, it is reasonably possible that losses in excess of the liabilities recorded may have been incurred. However, we cannot estimate any amount or range of such possible ad ditional losses. New information about sites, new technology or future developments such as involvement in investigations by regulatory agencies, could require us to reassess our potential exposure related to environmental matters . The following table summarizes the activity in our accrued environmental liability included in “Accrued liabilities” and “Other liabilities : ” Three Months Ended March 31, Millions of dollars 2018 2017 Beginning balance $ 102 $ 95 Amounts paid (2) (2) Foreign exchange effects 2 1 Ending balance $ 102 $ 94 Access Indemnity Demand ―In December 2010, one of our subsidiaries received demand letters from affiliates of Access Industries (collectively, “Access Entities”), a more than five percent shareholder of the Company , demanding indemnity for losses, including attorney’s fees and expenses, arising out of a 2007 management agreement and a pending lawsuit styled Edward S. Weisfelner, as Litigation Trustee of the LB Litigation Trust v. Leonard Blavatnik, et al., Adversary Proceeding No. 09-1375 (REG), in the United States Bankruptcy Court, Southern District of New York. In the Weisfelner lawsuit, the plaintiffs sought recovery from Access all amounts earned by the Access Entities related to their purchase of shares of Lyondell Chemical Company (“Lyondell C hemical”) prior to its acquisition by Basell AF S.C.A.; distributions by Basell AF S.C.A. to its shareholders before it acquired Lyondell Chemical; and management and transaction fees and expenses. The Access Entities also demanded $ 100 million in mana gement fees under the management agreement between an Access affiliate and the predecessor of LyondellBasell AF, as well as other unspecified amounts relating to advice purportedly given in connection with financing and other strategic transactions. In Ju ne 2009, an Access affiliate filed a proof of claim in Bankruptcy Court against LyondellBasell AF seeking “no less than $ 72 3 ,963.65 ” for the amounts allegedly owed under the 2007 management agreement . We do not believe that the 2007 management agreement i s in effect or that the Company or any Company-affiliated entity owes any obligations under the management agreement, including for management fees or for indemnification. We have defend ed our position in proceedings and against any claims or demands that have be en asserted. In April 2011, Lyondell Chemical filed an objection to the claim and brought a declaratory judgment action for a determination that the demands are not valid and t he declaratory judgment action was stayed p er the parties’ agreement pending the outcome of the Weisfelner lawsuit. The Weisfelner lawsuit went to trial in October 2016. In April 2017, the trial court awarded $ 12.6 million to the plaintiffs and denied all other relief, and in May 2017 the court issued its Final Judgment reflecting this ruling. The plaintiffs filed an appeal to the Federal District Court for the Southern District of New York, which largely affirmed the Final Judgment on January 24, 2018. In April 201 8 , the Company and the Access Entities agreed to settle all claims, including under the 2009 Proof of Claim and 2007 Managem ent Agreement, described in the April 2011 declaratory judgment action and the Access Entities’ December 2010 demand letters. No payments were required by either side under the settlement agreement; the declaratory judgment action will be dismissed and the Proof of Claim will be withdrawn. Indemnification —We are parties to various indemnification arrangements, including arrangements entered into in connection with acquisitions, divestitures and the formation and dissolution of joint ventures. Pursuant to these arrangements, we provide indemnification to and/o r receive indemnification from other parties in connection with liabilities that may arise in connection with the transactions and in connection with activities prior to completion of the transactions. These indemnification arrangements typically include p rovisions pertaining to third party claims relating to environmental and tax matters and various types of litigation. As of March 31, 2018 , we had not accrued any significant amounts for our indemnification obligations , and we are not aware of other circumstances that would likely lead to significant future indemnification obligations. We cannot determine with certainty the potential amount of future payments under the indemnification arrangements until events arise that would trigger a liability und er the arrangements. As part of our technology licensing contracts, we give indemnifications to our licensees for liabilities arising from possible patent infringement claims with respect to certain proprietary licensed technologies. Such indemnifications have a stated maximum amount and generally cover a period of five to ten years .

Stockholders' Equity

Stockholders' Equity	3 Months Ended
	Mar. 31, 2018
Stockholders' Equity [Abstract]
Stockholders' Equity [Text Block]	11 . Stockholders’ Equity Dividend Distributions —On March 1 2 , 201 8 , we paid a cash dividend of $ 1.00 per share for an aggregate of $395 million to shareholders of record on March 5 , 201 8 . Share Repurchase Program s — In May 2017, our shareholders approved a proposal to authorize us to repurchase up to an additional 10 % of our outstanding ordinary shares through November 2018 (“May 2017 Share Repurchase Program”). As a result, the authorization of the remaining unpurchased shares under the share repurchase program approved by our shareholders in May 2016 (“May 2016 Share Repurchase Program”) was superseded. These repurchases, which are determined at the discretion of our Management Board, may be executed from time to time through open market or privately negotiated transactions. The repurchased shares, which are recorded at cost, are classified as Treasury stock and may be retired or used for general corporate purposes, including for various employee benefit and compensation plans. The following table summarizes our share repurchase activity for the periods presented: Three Months Ended March 31, 2018 Average Total Purchase Shares Purchase Price, Including Millions of dollars, except shares and per share amounts Repurchased Price Commissions May 2017 Share Repurchase Program 1,292,480 $ 107.17 $ 138 Three Months Ended March 31, 2017 Average Total Purchase Shares Purchase Price, Including Millions of dollars, except shares and per share amounts Repurchased Price Commissions May 2016 Share Repurchase Program 1,533,713 $ 90.64 $ 139 Due to the timing of settlements, total cash paid for share repurchases for the three months ended March 31, 2018 and 2017 was $119 million and $160 million, respectively . Ordinary Shares —The changes in the outstanding amounts of ordinary shares are as follows: Three Months Ended March 31, 2018 2017 Ordinary shares outstanding: Beginning balance 394,512,054 404,046,331 Share-based compensation 235,671 237,758 Warrants exercised - - 4,099 Employee stock purchase plan 27,179 26,909 Purchase of ordinary shares (1,292,480) (1,533,713) Ending balance 393,482,424 402,781,384 Treasury Shares— The changes in the amounts of treasury shares held by the Company are as follows: Three Months Ended March 31, 2018 2017 Ordinary shares held as treasury shares: Beginning balance 183,928,109 174,389,139 Share-based compensation (235,671) (237,758) Warrants exercised - - 509 Employee stock purchase plan (27,179) (26,909) Purchase of ordinary shares 1,292,480 1,533,713 Ending balance 184,957,739 175,658,694 Accumulated O ther C omprehensive Income (Loss) — The components of, and after-tax changes in, Accumulated other comprehensive loss as of and for the three months ended March 31, 2018 and 2017 are presented in the following table : Unrealized Gains (Losses) Unrealized on Equity Gains Securities Defined (Losses) and Equity Benefit on Available Securities Pension Foreign -For-Sale Held by and Other Currency Financial Debt Equity Postretirement Translation Millions of dollars Derivatives Securities Investees Benefit Plans Adjustments Total Balance – January 1, 2018 $ (120) $ - - $ 17 $ (421) $ (761) $ (1,285) Adoption of accounting standards (2) - - (17) (51) - - (70) Other comprehensive income (loss) before reclassifications (61) - - - - - - 37 (24) Tax benefit before reclassifications 17 - - - - - - 3 20 Amounts reclassified from accumulated other comprehensive income (loss) 66 - - - - 8 - - 74 Tax expense (15) - - - - (1) - - (16) Net other comprehensive income (loss) 7 - - - - 7 40 54 Balance – March 31, 2018 $ (115) $ - - $ - - $ (465) $ (721) $ (1,301) Balance – January 1, 2017 $ (75) $ 1 $ - - $ (498) $ (939) $ (1,511) Other comprehensive income (loss) before reclassifications (2) (1) 8 - - 38 43 Tax (expense) benefit before reclassifications 6 - - 1 - - (2) 5 Amounts reclassified from accumulated other comprehensive income (loss) 25 - - - - 10 - - 35 Tax expense (7) - - - - (3) - - (10) Net other comprehensive income (loss) 22 (1) 9 7 36 73 Balance – March 31, 2017 $ (53) $ - - $ 9 $ (491) $ (903) $ (1,438) The amounts reclassified out of each component of A ccumulated other comprehensive loss are as follows: Three Months Ended Affected Line Item on the March 31, Consolidated Millions of dollars 2018 2017 Statements of Income Reclassification adjustments for: Financial derivatives - Foreign currency $ 62 $ 25 Other income, net Financial derivatives - Commodities 4 - - Cost of sales Income tax expense 15 7 Provision for income taxes Financial derivatives, net of tax 51 18 Amortization of defined pension items: Actuarial loss 8 10 Income tax expense 1 3 Defined pension items, net of tax 7 7 Total reclassifications, before tax 74 35 Income tax expense 16 10 Provision for income taxes Total reclassifications, after tax $ 58 $ 25 Amount included in net income Amortization of prior service cost and a ctuarial loss is included in the computation of net periodic pension and other postretirement benefit costs (see Note 8 ).

Per Share Data

Per Share Data	3 Months Ended
	Mar. 31, 2018
Per Share Data [Abstract]
Per Share Data [Text Block]	12 . Per Share Data Basic earnings per share are based upon the weighted average number of shares of common stock outstanding during the periods. Diluted earnings per share includes the effect of certain stock option awards and other equity-based compensation awards . We have unvested restricted stock units that are considered participating securities for earnings per share. Earnings per share data and dividends declared per share of common stock are as follows: Three Months Ended March 31, 2018 2017 Continuing Discontinued Continuing Discontinued Millions of dollars Operations Operations Operations Operations Net income (loss) $ 1,231 $ - - $ 805 $ (8) Less: net (income) loss attributable to non-controlling interests - - - - - - - - Net income (loss) attributable to the Company shareholders 1,231 - - 805 (8) Net income attributable to participating securities (1) - - (1) - - Net income (loss) attributable to ordinary shareholders – basic and diluted $ 1,230 $ - - $ 804 $ (8) Millions of shares, except per share amounts Basic weighted average common stock outstanding 394 394 403 403 Effect of dilutive securities: PSU awards 1 1 - - - - Potential dilutive shares 395 395 403 403 Earnings (loss) per share: Basic $ 3.12 $ - - $ 2.00 $ (0.02) Diluted $ 3.11 $ - - $ 2.00 $ (0.02) Millions of shares, except per share amounts Participating securities 0.5 0.5 0.4 0.4 Dividends declared per share of common stock $ 1.00 $ - - $ 0.85 $ - -

Segment and Related Information

Segment and Related Information	3 Months Ended
	Mar. 31, 2018
Segment and Related Information [Abstract]
Segment and Related Information [Text Block]	13 . Segment and Related Information Our operations are managed through five operating segments, as shown below . We disclose the results of each of our operating segments in accordance with ASC 280, Segment Reporting . Each of our operating segments is managed by a senior executive reporting directly to our Chief Executive Officer , the chief operating decision maker. D iscrete financial information is available for each of the segments , and o ur Chief Executive Officer uses the opera ting results of each of the operating segments for performance evaluation and resource allocation . The activities of each of our segments from which they earn revenues and incur expenses are described below: Olefins and Polyolefins–Americas (“O&P–Americas” ). Our O&P–Americas segment produces and markets olefins and co-products, polyethylene and polypropylene . Olefins and Polyolefins–Europe, Asia, International (“O&P–EAI”). Our O&P–EAI segment produces and markets olefins and co-products, polyethylene, and polypropylene , including polypropylene compounds. Intermediates and Derivatives (“I&D”). Our I&D segment produces and markets propylene oxide and its co-products and derivatives, oxyfuels and related products and intermediate chemicals such as styrene mono mer, acetyls, ethylene oxide and ethylene glycol. Refining . Our Refining segment refines heavy, high-sulfur crude oils and other crude oils of varied types and sources available on the U.S. Gulf Coast into refined products, including gasoline and distillat es. Technology . Our Technology segment develops and licenses chemical and polyolefin process technologies and manufactures and sells polyolefin catalysts. Our chief operating decision maker uses EBITDA as the primary measure for reviewing our segments’ pr ofitability and therefore, in accordance with ASC 280, Segment Reporting , we have presented EBITDA for all segments. We define EBITDA as earnings before interest, taxes and depreciation and amortization. “Other” includes i ntersegment eliminations and i te ms that are not directly related or allocated to business operations , such as foreign exchange gains (losses) and components of pension and other postretirement benefit costs other than service cost. Sales between segments are made primarily at prices approximating prevailing market prices. Summarized financial information concerning reportable segments is shown in the following table for the periods presented : Three Months Ended March 31, 2018 O&P– O&P– Millions of dollars Americas EAI I&D Refining Technology Other Total Sales and other operating revenues: Customers $ 1,882 $ 3,485 $ 2,310 $ 2,002 $ 88 $ - - $ 9,767 Intersegment 876 77 33 255 27 (1,268) - - 2,758 3,562 2,343 2,257 115 (1,268) 9,767 Income from equity investments 17 76 3 - - - - - - 96 EBITDA 780 518 486 63 56 10 1,913 Three Months Ended March 31, 2017 O&P– O&P– Millions of dollars Americas EAI I&D Refining Technology Other Total Sales and other operating revenues: Customers $ 1,999 $ 2,967 $ 2,121 $ 1,250 $ 93 $ - - $ 8,430 Intersegment 605 57 29 103 27 (821) - - 2,604 3,024 2,150 1,353 120 (821) 8,430 Income from equity investments 14 66 1 - - - - - - 81 EBITDA 723 529 339 (30) 60 (4) 1,617 In the first three months of 2017, our O&P–Americas segment results included a $ 31 million gain on the sale of our Lake Charles, Louisiana site. Our I&D segment results for the first quarter of 2017 included charges approximating $ 40 million primarily related to the precious metal catalysts. A reconciliation of EBITDA to Income from continuing operations before income taxes is shown in the following table for each of the periods presented: Three Months Ended March 31, Millions of dollars 2018 2017 EBITDA: Total segment EBITDA $ 1,903 $ 1,621 Other EBITDA 10 (4) Less: Depreciation and amortization expense (299) (296) Interest expense (91) (207) Add: Interest income 11 6 Income from continuing operations before income taxes $ 1,534 $ 1,120

Revenue (Policies)

Revenue (Policies)	3 Months Ended
	Mar. 31, 2018
Revenues [Abstract]
Revenue from contract with customer [Policy Text Block]	Revenue Recognition— Substantially all our revenues are derived from contracts with customers. We account for contracts when both parties have approved the contract and are committed to perform, the rights of the parties and payment terms have been identified , the contract has commercial substance, and collectability is probable. Payments are typically required within a short period following the transfer of control over the product to the customer. We occasionally require customers to prepay purchases to ensure collectability. Such prepayments do not represent financing arrangements , and payment and fulfillment of the performance obligation occurs within a short time frame. We elected to apply the pr actical expedient , which permits us not to adjust the promised amount of consideration for the effects of a significant financing component when , at contract inception , we expect that payment will occur in one year or less. Revenue is recognized when obli gations under the terms of a contract with our customer are satisfied. This generally occurs at the point in time when performance obligations are fulfilled and control transfers to the customer. In most instances, control transfers upon transfer of risk o f loss and title to the customer, which usually occurs when we ship products to the customer from our manufacturing facility. Revenue is measured as the amount of consideration we expect to receive in exchange for transferring goods. Customer incentives ar e generally based on volumes purchased and recognized over the period earned . Sales, value added, and other taxes that we collect concurrent with revenue-producing activities are excluded from the transaction price as they represent amounts collected on be half of third parties . Incidental costs incurred to obtain a contract are immaterial in the context of the contract a nd are recognized as expense. We have elected the practical expedient to recognize the incremental costs of obtaining a contract as an expe nse when incurred if the amortization period of the asset that we otherwise would have recognized is one year or less. Shipping and handling costs are treated as a fulfillment cost and not a separate performance obligation.

Revenues (Tables)

Revenues (Tables)	3 Months Ended
	Mar. 31, 2018
Revenues [Abstract]
Disaggregation of revenue [Table Text Block]	The following table presents our revenues disaggregated by key products for the three months ended March 31, 2018 : Millions of dollars Sales and other operating revenues: Olefins & co-products $ 1,020 Polyethylene 1,978 Polypropylene 2,331 PO & derivatives 649 Oxyfuels and related products 795 Intermediate chemicals 848 Refined products 2,002 Other 144 Total $ 9,767 The following table presents our revenues disaggregated by geography, based upon the location of the customer , for the three months ended March 31, 2018 : Millions of dollars Sales and other operating revenues: United States $ 4,653 Germany 821 Italy 394 France 350 Mexico 478 The Netherlands 276 Other 2,795 Total $ 9,767

Inventories (Tables)

Inventories (Tables)	3 Months Ended
	Mar. 31, 2018
Inventories [Abstract]
Schedule of inventory, current [Table Text Block]	Inventories consisted of the following components: March 31, December 31, Millions of dollars 2018 2017 Finished goods $ 2,849 $ 2,932 Work-in-process 190 142 Raw materials and supplies 1,218 1,143 Total inventories $ 4,257 $ 4,217

Debt (Tables)

Debt (Tables)	3 Months Ended
	Mar. 31, 2018
Debt [Abstract]
Schedule of long-term debt [Table Text Block]	Long-term loans, notes and other long-term debt, net of unamortized discount and debt issuance cost, consisted of the following: March 31, December 31, Millions of dollars 2018 2017 Senior Notes due 2019, $1,000 million, 5.0% ($2 million of debt issuance cost) $ 963 $ 961 Senior Notes due 2021, $1,000 million, 6.0% ($7 million of debt issuance cost) 967 981 Senior Notes due 2024, $1,000 million, 5.75% ($8 million of debt issuance cost) 992 992 Senior Notes due 2055, $1,000 million, 4.625% ($16 million of discount; $11 million of debt issuance cost) 973 973 Guaranteed Notes due 2044, $1,000 million, 4.875% ($11 million of discount; $9 million of debt issuance cost) 980 979 Guaranteed Notes due 2043, $750 million, 5.25% ($21 million of discount; $7 million of debt issuance cost) 722 722 Guaranteed Notes due 2023, $750 million, 4.0% ($6 million of discount; $3 million of debt issuance cost) 741 740 Guaranteed Notes due 2027, $300 million, 8.1% 300 300 Guaranteed Notes due 2022, €750 million, 1.875% ($3 million of discount; $3 million of debt issuance cost) 919 894 Guaranteed Notes due 2027, $1,000 million, 3.5% ($9 million of discount; $8 million of debt issuance cost) 953 984 Other 26 25 Total 8,536 8,551 Less current maturities (5) (2) Long-term debt $ 8,531 $ 8,549 F air value hedging adjustments associated with the fair value hedge accounting of our fixed-for-floating interest rate swaps for the applicable periods are as follows: Cumulative Fair Value Hedging Adjustment Included Gains (Losses) in Carrying Amount of Debt Three Months Ended Inception March 31, March 31, December 31, Millions of dollars Year 2018 2017 2018 2017 Senior Notes due 2019, 5.0% 2014 $ (1) $ (36) $ 35 $ 36 Senior Notes due 2021, 6.0% 2016 14 2 26 12 Guaranteed Notes due 2027, 3.5% 2017 31 (1) 30 (1) Total $ 44 $ (35) $ 91 $ 47 The cumulative fair value hedging adjustment remaining at March 31, 2018 and December 31, 2017 associated with our Senior Notes due 2019 includes $ 25 million and $ 31 million , respectively, for hedges that have been discontinued. The $36 million loss in the three months ended March 31, 2017 included a $ 44 million charge for the write-off of the cumulative fair value hedging adjustment related to our 5% Senior Notes due 2019 described below. These fair value adjustments are recognized in Interest expense in the Consolidated Statements of Income.
Schedule of short-term debt [Table Text Block]	Short-term loans, notes, and other short-term debt consisted of the following: March 31, December 31, Millions of dollars 2018 2017 $2,500 million Senior Revolving Credit Facility $ - - $ - - $900 million U.S. Receivables Securitization Facility - - - - Commercial paper - - - - Precious metal financings 73 64 Other 4 4 Total short-term debt $ 77 $ 68

Financial Instruments and Fai26

Financial Instruments and Fair Value Measurements (Tables)	3 Months Ended
	Mar. 31, 2018
Financial Instruments and Fair Value [Abstract]
Summary of fair value of outstanding financial instruments [Table Text Block]	Financial Instruments Measured at Fair Value on a Recurring Basis — The following table summarizes financial instruments outstanding as of March 31, 2018 and December 31, 2017 that are measured at fair value on a recurring basis: March 31, 2018 December 31, 2017 Notional Fair Notional Fair Balance Sheet Millions of dollars Amount Value Amount Value Classification Assets– Derivatives designated as hedges: Foreign currency $ 498 $ 54 $ - - $ 26 Prepaid expenses and other current assets Foreign currency - - - - 2,000 25 Other assets Interest rates - - 26 - - 20 Prepaid expenses and other current assets Interest rates 600 13 650 1 Other assets Derivatives not designated as hedges: Commodities 74 5 77 20 Prepaid expenses and other current assets Foreign currency 377 2 19 - - Prepaid expenses and other current assets Non-derivatives: Available-for-sale 696 696 960 960 Short-term investments debt securities Equity securities 350 346 350 347 Short-term investments Total $ 2,595 $ 1,142 $ 4,056 $ 1,399 Liabilities– Derivatives designated as hedges: Commodities $ 71 $ 7 $ 97 $ 8 Accrued liabilities Commodities 3 - - 5 - - Other liabilities Foreign currency 139 52 139 29 Accrued liabilities Foreign currency 2,950 237 950 140 Other liabilities Interest rates - - 5 - - 5 Accrued liabilities Interest rates 3,400 67 3,350 58 Other liabilities Derivatives not designated as hedges: Commodities 65 8 108 29 Accrued liabilities Foreign currency 372 5 995 11 Accrued liabilities Non-derivatives: Performance share 28 28 23 23 Accrued liabilities awards Performance share 1 1 27 27 Other liabilities awards Total $ 7,029 $ 410 $ 5,694 $ 330 All derivatives and available-for-sale debt securities in the tables above are classified as Level 2. Our limited partnership investments included in our equity securities discussed below, are measured at fair value using the net asset value (“NAV”) per share (or its equivalent) practical expedient and have not been classified in the fair value hierarchy.
Schedule of the carrying value and estimated fair value of non-derivative financial instruments [Table Text Block]	Financial Instruments Not Measured at Fair Value on a Recurring Basis —The following table presents the carrying value and estimated fair value of our financial instruments that are not measured at fair value on a recurring basis as of March 31, 2018 and December 31, 2017. Short-term loans receivable, which represent our repurchase agreements, and short-term and long-term debt are recorded at amortized cost in the Consolidated Balance Sheets. The carrying fair values of short-term and long-term debt e xclude capital leases and commercial paper. March 31, 2018 December 31, 2017 Carrying Fair Carrying Fair Millions of dollars Value Value Value Value Non-derivatives: Assets: Short-term loans receivable $ 586 $ 586 $ 570 $ 570 Liabilities: Short-term debt $ 73 $ 71 $ 64 $ 75 Long-term debt 8,510 9,158 8,526 9,442 Total $ 8,583 $ 9,229 $ 8,590 $ 9,517 All financial instruments in the table above are classified as Level 2. There were no transfers between Level 1 and Level 2 for any of our financial instruments during the three months ended March 31, 2018 and the year ended December 31, 2017 .
Summary of cash flow hedges [Table Text Block]	Cash Flow Hedges— The following table summarizes our cash flow hedges outstanding at March 31, 2018 and December 31, 201 7 : March 31, 2018 December 31, 2017 Notional Notional Expiration Millions of dollars Value Value Date Foreign currency $ 2,300 $ 2,300 2021 to 2027 Interest rates 1,000 1,000 2019 Commodities 74 102 2018 to 2019 There was no ineffectiveness recorded during the three months ended March 31, 2017 related to these hedging rel ationships.
Summary of the impact of financial instruments on earnings and other comprehensive income [Table Text Block]	Impact on Earnings and Other Comprehensive Income — The following table summarizes the pre-tax effect of derivative instruments and non-derivative instruments on Other comprehensive income and earnings for the three months ended March 31 : Effect of Financial Instruments Gain (Loss) Gain (Loss) Gain (Loss) Recognized Reclassified from Recognized Income in AOCI AOCI to Income in Income Statement Millions of dollars 2018 2017 2018 2017 2018 2017 Classification Derivatives designated as net investment hedges: Foreign currency $ (17) $ (22) $ - - $ - - $ 5 $ - - Interest expense Derivatives designated as cash flow hedges: Commodities (3) (2) 4 - - - - - - Cost of sales Foreign currency (108) (7) 62 25 8 12 Other income, net; Interest expense Interest rates 49 7 - - - - - - - - Interest expense Derivatives designated as fair value hedges: Interest rates - - - - - - - - (44) (1) Interest expense Derivatives not designated as hedges: Commodities - - - - - - - - 1 (1) Sales and other operating revenues Commodities - - - - - - - - (4) (11) Cost of sales Foreign currency - - - - - - - - (19) (1) Other income, net Non-derivatives designated as net investment hedges: Long-term debt (25) (10) - - - - - - - - Other income, net Total $ (104) $ (34) $ 66 $ 25 $ (53) $ (2) The derivative amounts excluded from effectiveness testing for foreign currency contracts designated as net investment hedges recognized in other comprehensive income and interest income for the three months ended March 31, 2018 were $ 4 million and $ 5 million , respectively. For the three months ended March 31, 2018, a $ 62 million gain for our foreign currency contracts designated as cash flow hedges was reclassified from AOCI to Other income, net.
Summary of available-for-sale debt securities [Table Text Block]	Investments in Available-for-sale Debt Securities — The following table summarizes the amortized cost, gross unrealized gains and losses, and fair value of our available-for-sale debt securities that are outstanding as of March 31, 2018 and December 31, 2017 : March 31, 2018 Gross Gross Unrealized Unrealized Fair Millions of dollars Cost Gains Losses Value Available-for-sale debt securities: Commercial paper $ 50 $ - - $ - - $ 50 Bonds 646 1 (1) 646 Total available-for-sale debt securities $ 696 $ 1 $ (1) $ 696 December 31, 2017 Gross Gross Unrealized Unrealized Fair Millions of dollars Cost Gains Losses Value Available-for-sale securities: Commercial paper $ 180 $ - - $ - - $ 180 Bonds 630 - - - - 630 Certificates of deposit 150 - - - - 150 Limited partnership investments 350 2 (5) 347 Total available-for-sale securities $ 1,310 $ 2 $ (5) $ 1,307 The proceeds from maturities and sales of our available-for-sale debt securities during the three months ended March 31, 2018 and 2017 are summarized in the following table: Three Months Ended March 31, Millions of dollars 2018 2017 Proceeds from maturities of securities $ 335 $ 338 Proceeds from sales of securities - - - - No gain or loss was realized in connection with the sales of our available-for-sale debt securities during the three months ended March 31, 2018 and 2017. The following table summarizes the fair value and unrealized losses related to available-for-sale debt securities that were in a continuous unrealized loss position for less than and greater than twelve months as of March 31, 2018 and December 31, 2017 : March 31, 2018 Less than 12 months Greater than 12 months Fair Unrealized Fair Unrealized Millions of dollars Value Loss Value Loss Available-for-sale debt securities: Bonds $ 247 $ (1) $ 25 $ - - December 31, 2017 Less than 12 months Greater than 12 months Fair Unrealized Fair Unrealized Millions of dollars Value Loss Value Loss Available-for-sale securities: Limited partnership investments $ 117 $ (5) $ - - $ - -
Summary of the portion of unrealized gains and losses for equity securities outstanding [Table Text Block]	The following table summ arizes the portion of unrealized gains and losses for the equity securities that are outstanding as of March 31, 2018: Millions of dollars Net losses recognized during the period $ (1) Less: Net gains (losses) recognized during the period on securities sold - - Unrealized losses recognized during the period $ (1)

Pension and Other Postretirem27

Pension and Other Postretirement Benefits (Tables)	3 Months Ended
	Mar. 31, 2018
Pension and Other Postretirement Benefits [Abstract]
Schedule of the components of net periodic benefit costs (credits) [TableText Block]	Net periodic pension benefits included the following cost components for the periods presented : Three Months Ended March 31, 2018 2017 Millions of dollars U.S. Non-U.S. U.S. Non-U.S. Service cost $ 13 $ 9 $ 12 $ 9 Interest cost 15 8 15 5 Expected return on plan assets (30) (6) (30) (4) Actuarial and investment loss amortization 5 3 5 4 Net periodic benefit costs $ 3 $ 14 $ 2 $ 14 Net periodic other postretirement benefits included the following cost components for the periods presented: Three Months Ended March 31, 2018 2017 Millions of dollars U.S. Non-U.S. U.S. Non-U.S. Service cost $ 1 $ 1 $ 1 $ 1 Interest cost 2 - - 2 - - Actuarial loss amortization - - - - - - 1 Net periodic benefit costs $ 3 $ 1 $ 3 $ 2 The components of net periodic benefit cost other than the service cost component are included in Other income, net in the Consolidated Statements of Income.

Commitments and Contingencies (

Commitments and Contingencies (Tables)	3 Months Ended
	Mar. 31, 2018
Commitments and Contingencies [Abstract]
Schedule of environmental loss contingencies [Table Text Block]	The following table summarizes the activity in our accrued environmental liability included in “Accrued liabilities” and “Other liabilities : ” Three Months Ended March 31, Millions of dollars 2018 2017 Beginning balance $ 102 $ 95 Amounts paid (2) (2) Foreign exchange effects 2 1 Ending balance $ 102 $ 94

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)	3 Months Ended
	Mar. 31, 2018
Stockholders' Equity [Abstract]
Schedule of share repurchase programs [Table Text Block]	The following table summarizes our share repurchase activity for the periods presented: Three Months Ended March 31, 2018 Average Total Purchase Shares Purchase Price, Including Millions of dollars, except shares and per share amounts Repurchased Price Commissions May 2017 Share Repurchase Program 1,292,480 $ 107.17 $ 138 Three Months Ended March 31, 2017 Average Total Purchase Shares Purchase Price, Including Millions of dollars, except shares and per share amounts Repurchased Price Commissions May 2016 Share Repurchase Program 1,533,713 $ 90.64 $ 139 Due to the timing of settlements, total cash paid for share repurchases for the three months ended March 31, 2018 and 2017 was $119 million and $160 million, respectively .
Schedule of changes in ordinary and treasury shares outstanding during the period [Table Text Block]	Ordinary Shares —The changes in the outstanding amounts of ordinary shares are as follows: Three Months Ended March 31, 2018 2017 Ordinary shares outstanding: Beginning balance 394,512,054 404,046,331 Share-based compensation 235,671 237,758 Warrants exercised - - 4,099 Employee stock purchase plan 27,179 26,909 Purchase of ordinary shares (1,292,480) (1,533,713) Ending balance 393,482,424 402,781,384 Treasury Shares— The changes in the amounts of treasury shares held by the Company are as follows: Three Months Ended March 31, 2018 2017 Ordinary shares held as treasury shares: Beginning balance 183,928,109 174,389,139 Share-based compensation (235,671) (237,758) Warrants exercised - - 509 Employee stock purchase plan (27,179) (26,909) Purchase of ordinary shares 1,292,480 1,533,713 Ending balance 184,957,739 175,658,694
Schedule of accumulated other comprehensive income (loss) [Table Text Block]	Accumulated O ther C omprehensive Income (Loss) — The components of, and after-tax changes in, Accumulated other comprehensive loss as of and for the three months ended March 31, 2018 and 2017 are presented in the following table : Unrealized Gains (Losses) Unrealized on Equity Gains Securities Defined (Losses) and Equity Benefit on Available Securities Pension Foreign -For-Sale Held by and Other Currency Financial Debt Equity Postretirement Translation Millions of dollars Derivatives Securities Investees Benefit Plans Adjustments Total Balance – January 1, 2018 $ (120) $ - - $ 17 $ (421) $ (761) $ (1,285) Adoption of accounting standards (2) - - (17) (51) - - (70) Other comprehensive income (loss) before reclassifications (61) - - - - - - 37 (24) Tax benefit before reclassifications 17 - - - - - - 3 20 Amounts reclassified from accumulated other comprehensive income (loss) 66 - - - - 8 - - 74 Tax expense (15) - - - - (1) - - (16) Net other comprehensive income (loss) 7 - - - - 7 40 54 Balance – March 31, 2018 $ (115) $ - - $ - - $ (465) $ (721) $ (1,301) Balance – January 1, 2017 $ (75) $ 1 $ - - $ (498) $ (939) $ (1,511) Other comprehensive income (loss) before reclassifications (2) (1) 8 - - 38 43 Tax (expense) benefit before reclassifications 6 - - 1 - - (2) 5 Amounts reclassified from accumulated other comprehensive income (loss) 25 - - - - 10 - - 35 Tax expense (7) - - - - (3) - - (10) Net other comprehensive income (loss) 22 (1) 9 7 36 73 Balance – March 31, 2017 $ (53) $ - - $ 9 $ (491) $ (903) $ (1,438)
Reclassification out of accumulated other comprehensive income (loss) [Table Text Block]	The amounts reclassified out of each component of A ccumulated other comprehensive loss are as follows: Three Months Ended Affected Line Item on the March 31, Consolidated Millions of dollars 2018 2017 Statements of Income Reclassification adjustments for: Financial derivatives - Foreign currency $ 62 $ 25 Other income, net Financial derivatives - Commodities 4 - - Cost of sales Income tax expense 15 7 Provision for income taxes Financial derivatives, net of tax 51 18 Amortization of defined pension items: Actuarial loss 8 10 Income tax expense 1 3 Defined pension items, net of tax 7 7 Total reclassifications, before tax 74 35 Income tax expense 16 10 Provision for income taxes Total reclassifications, after tax $ 58 $ 25 Amount included in net income Amortization of prior service cost and a ctuarial loss is included in the computation of net periodic pension and other postretirement benefit costs (see Note 8 ).

Per Share Data (Tables)

Per Share Data (Tables)	3 Months Ended
	Mar. 31, 2018
Per Share Data [Abstract]
Schedule of earnings per share, basic and diluted [Table Text Block]	Earnings per share data and dividends declared per share of common stock are as follows: Three Months Ended March 31, 2018 2017 Continuing Discontinued Continuing Discontinued Millions of dollars Operations Operations Operations Operations Net income (loss) $ 1,231 $ - - $ 805 $ (8) Less: net (income) loss attributable to non-controlling interests - - - - - - - - Net income (loss) attributable to the Company shareholders 1,231 - - 805 (8) Net income attributable to participating securities (1) - - (1) - - Net income (loss) attributable to ordinary shareholders – basic and diluted $ 1,230 $ - - $ 804 $ (8) Millions of shares, except per share amounts Basic weighted average common stock outstanding 394 394 403 403 Effect of dilutive securities: PSU awards 1 1 - - - - Potential dilutive shares 395 395 403 403 Earnings (loss) per share: Basic $ 3.12 $ - - $ 2.00 $ (0.02) Diluted $ 3.11 $ - - $ 2.00 $ (0.02) Millions of shares, except per share amounts Participating securities 0.5 0.5 0.4 0.4 Dividends declared per share of common stock $ 1.00 $ - - $ 0.85 $ - -

Segment and Related Informati31

Segment and Related Information (Tables)	3 Months Ended
	Mar. 31, 2018
Segment and Related Information [Abstract]
Summary of financial information concerning reportable segments [Table Text Block]	Summarized financial information concerning reportable segments is shown in the following table for the periods presented : Three Months Ended March 31, 2018 O&P– O&P– Millions of dollars Americas EAI I&D Refining Technology Other Total Sales and other operating revenues: Customers $ 1,882 $ 3,485 $ 2,310 $ 2,002 $ 88 $ - - $ 9,767 Intersegment 876 77 33 255 27 (1,268) - - 2,758 3,562 2,343 2,257 115 (1,268) 9,767 Income from equity investments 17 76 3 - - - - - - 96 EBITDA 780 518 486 63 56 10 1,913 Three Months Ended March 31, 2017 O&P– O&P– Millions of dollars Americas EAI I&D Refining Technology Other Total Sales and other operating revenues: Customers $ 1,999 $ 2,967 $ 2,121 $ 1,250 $ 93 $ - - $ 8,430 Intersegment 605 57 29 103 27 (821) - - 2,604 3,024 2,150 1,353 120 (821) 8,430 Income from equity investments 14 66 1 - - - - - - 81 EBITDA 723 529 339 (30) 60 (4) 1,617
Reconciliation of EBITDA to income (loss) from continuing operations before income taxes [Table Text Block]	A reconciliation of EBITDA to Income from continuing operations before income taxes is shown in the following table for each of the periods presented: Three Months Ended March 31, Millions of dollars 2018 2017 EBITDA: Total segment EBITDA $ 1,903 $ 1,621 Other EBITDA 10 (4) Less: Depreciation and amortization expense (299) (296) Interest expense (91) (207) Add: Interest income 11 6 Income from continuing operations before income taxes $ 1,534 $ 1,120

Accounting and Reporting Chan32

Accounting and Reporting Changes (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2018	Dec. 31, 2017
New accounting pronouncements or change in accounting principle [Line Items]
New accounting pronouncement or change in accounting principle, cumulative effect of change on equity or net assets	$ (70)
ASU 2016-01 adoption [Member] | ASU 2016-01 prospective adoption [Member]
New accounting pronouncements or change in accounting principle [Line Items]
New accounting pronouncement, description of prospective transition impact	We adopted this guidance prospectively in the first quarter of 2018 and recorded a cumulative-effect adjustment of $15 million to beginning retained earnings.
New accounting pronouncement or change in accounting principle, cumulative effect of change on equity or net assets		$ 15
ASU 2016-16 adoption [Member]
New accounting pronouncements or change in accounting principle [Line Items]
New accounting pronouncement, description of retrospective transition impact	We adopted this guidance in the first quarter of 2018 following the modified retrospective method and recorded a cumulative-effect adjustment of $9 million to beginning retained earnings.
New accounting pronouncement or change in accounting principle, cumulative effect of change on equity or net assets		9
ASU 2018-02 adoption [Member] | New accounting pronouncement early adoption effect [Member] | ASU 2018-02 prospective adoption [Member]
New accounting pronouncements or change in accounting principle [Line Items]
New accounting pronouncement, description of prospective transition impact	We early adopted this guidance in the first quarter of 2018 using the specific identification method and recorded a cumulative-effect adjustment of $52 million to beginning retained earnings.
New accounting pronouncement or change in accounting principle, cumulative effect of change on equity or net assets		$ 52

Revenues (Details)

Revenues (Details) $ in Millions	3 Months Ended
	Mar. 31, 2018USD ($)
Contract with customer, liability [Abstract]
Contract with customer, liability, current	$ 144
Revenue recognized included in beginning contract liability	Revenue recognized in the reporting period included in the contract liability balance at the beginning of the period is immaterial.
ASU 2014-09 adoption effect [Member]
Revenue, initial application period cumulative effect transition [Line Items]
Cumulative effect on retained earnings, after tax	$ 18

Revenues, Key product revenues

Revenues, Key product revenues (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Revenue from contract with customer, excluding assessed tax [Abstract]
Revenues	$ 9,767	$ 8,430
Olefins & co-products [Member]
Revenue from contract with customer, excluding assessed tax [Abstract]
Revenues	1,020
Polyethylene [Member]
Revenue from contract with customer, excluding assessed tax [Abstract]
Revenues	1,978
Polypropylene [Member]
Revenue from contract with customer, excluding assessed tax [Abstract]
Revenues	2,331
PO & derivatives [Member]
Revenue from contract with customer, excluding assessed tax [Abstract]
Revenues	649
Oxyfuels and related products [Member]
Revenue from contract with customer, excluding assessed tax [Abstract]
Revenues	795
Intermediate chemicals [Member]
Revenue from contract with customer, excluding assessed tax [Abstract]
Revenues	848
Refined products [Member]
Revenue from contract with customer, excluding assessed tax [Abstract]
Revenues	2,002
Other [Member]
Revenue from contract with customer, excluding assessed tax [Abstract]
Revenues	$ 144

Revenues, Geographic location (

Revenues, Geographic location (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Revenue from contract with customer, excluding assessed tax [Abstract]
Revenues	$ 9,767	$ 8,430
United States [Member]
Revenue from contract with customer, excluding assessed tax [Abstract]
Revenues	4,653
Germany [Member]
Revenue from contract with customer, excluding assessed tax [Abstract]
Revenues	821
Italy [Member]
Revenue from contract with customer, excluding assessed tax [Abstract]
Revenues	394
France [Member]
Revenue from contract with customer, excluding assessed tax [Abstract]
Revenues	350
Mexico [Member]
Revenue from contract with customer, excluding assessed tax [Abstract]
Revenues	478
The Netherlands [Member]
Revenue from contract with customer, excluding assessed tax [Abstract]
Revenues	276
Other [Member]
Revenue from contract with customer, excluding assessed tax [Abstract]
Revenues	$ 2,795

Accounts Receivable (Details)

Accounts Receivable (Details) - USD ($) $ in Millions	Mar. 31, 2018	Dec. 31, 2017
Accounts Receivable [Abstract]
Allowance for doubtful accounts receivable	$ 17	$ 17

Inventories (Details)

Inventories (Details) - USD ($) $ in Millions	Mar. 31, 2018	Dec. 31, 2017
Inventory, finished goods, work-in-process, and raw materials and supplies [Abstract]
Finished goods	$ 2,849	$ 2,932
Work-in-process	190	142
Raw materials and supplies	1,218	1,143
Total inventories	$ 4,257	$ 4,217

Debt, Long-term debt (Details)

Debt, Long-term debt (Details) € in Millions, $ in Millions	1 Months Ended	3 Months Ended		12 Months Ended
	Mar. 31, 2017USD ($)	Mar. 31, 2018EUR (€)	Mar. 31, 2017USD ($)	Dec. 31, 2017EUR (€)	Mar. 31, 2018USD ($)	Dec. 31, 2017USD ($)
Long-term debt [Line Items]
Long-term debt					$ 8,536	$ 8,551
Long-term debt, current portion					(5)	(2)
Long-term debt, non-current portion					8,531	8,549
Senior Notes due 2019, $1,000 million, 5.0% ($2 million of debt issuance cost) [Member]
Long-term debt [Line Items]
Maturity year	2,019	2,019	2,019	2,019
Face amount					$ 1,000	$ 1,000
Stated interest rate (in hundredths)	5.00%	5.00%	5.00%	5.00%	5.00%	5.00%
Unamortized debt issuance cost					$ 2
Long-term debt					963	$ 961
Senior Notes due 2021, $1,000 million, 6.0% ($7 million of debt issuance cost) [Member]
Long-term debt [Line Items]
Maturity year		2,021	2,021	2,021
Face amount					$ 1,000	$ 1,000
Stated interest rate (in hundredths)		6.00%		6.00%	6.00%	6.00%
Unamortized debt issuance cost					$ 7
Long-term debt					967	$ 981
Senior Notes due 2024, $1,000 million, 5.75% ($8 million of debt issuance cost) [Member]
Long-term debt [Line Items]
Maturity year		2,024		2,024
Face amount					$ 1,000	$ 1,000
Stated interest rate (in hundredths)		5.75%		5.75%	5.75%	5.75%
Unamortized debt issuance cost					$ 8
Long-term debt					992	$ 992
Senior Notes due 2055, $1,000 million, 4.625% ($16 million of discount; $11 million of debt issuance cost) [Member]
Long-term debt [Line Items]
Maturity year		2,055		2,055
Face amount					$ 1,000	$ 1,000
Stated interest rate (in hundredths)		4.625%		4.625%	4.625%	4.625%
Unamortized debt issuance cost					$ 11
Unamortized discount					16
Long-term debt					973	$ 973
Guaranteed Notes due 2044, $1,000 million, 4.875% ($11 million of discount; $9 million of debt issuance cost) [Member]
Long-term debt [Line Items]
Maturity year		2,044		2,044
Face amount					$ 1,000	$ 1,000
Stated interest rate (in hundredths)		4.875%		4.875%	4.875%	4.875%
Unamortized debt issuance cost					$ 9
Unamortized discount					11
Long-term debt					980	$ 979
Guaranteed Notes due 2043, $750 million, 5.25% ($21 million of discount; $7 million of debt issuance cost) [Member]
Long-term debt [Line Items]
Maturity year		2,043		2,043
Face amount					$ 750	$ 750
Stated interest rate (in hundredths)		5.25%		5.25%	5.25%	5.25%
Unamortized debt issuance cost					$ 7
Unamortized discount					21
Long-term debt					722	$ 722
Guaranteed Notes due 2023, $750 million, 4.0% ($6 million of discount; $3 million of debt issuance cost) [Member]
Long-term debt [Line Items]
Maturity year		2,023		2,023
Face amount					$ 750	$ 750
Stated interest rate (in hundredths)		4.00%		4.00%	4.00%	4.00%
Unamortized debt issuance cost					$ 3
Unamortized discount					6
Long-term debt					741	$ 740
Guaranteed Notes due 2027, $300 million, 8.1% [Member]
Long-term debt [Line Items]
Maturity year		2,027		2,027
Face amount					$ 300	$ 300
Stated interest rate (in hundredths)		8.10%		8.10%	8.10%	8.10%
Long-term debt					$ 300	$ 300
Guaranteed Notes due 2022, Euro 750 million, 1.875% ($3 million of discount; $3 million of debt issuance cost) [Member]
Long-term debt [Line Items]
Maturity year		2,022		2,022
Face amount | €		€ 750		€ 750
Stated interest rate (in hundredths)		1.875%		1.875%	1.875%	1.875%
Unamortized debt issuance cost					$ 3
Unamortized discount					3
Long-term debt					919	$ 894
Guaranteed Notes due 2027, $1,000 million, 3.50% ($9 million of discount; $8 million of debt issuance cost) [Member]
Long-term debt [Line Items]
Maturity year	2,027	2,027	2,027	2,027
Face amount	$ 1,000		$ 1,000		$ 1,000	$ 1,000
Stated interest rate (in hundredths)	3.50%	3.50%	3.50%	3.50%	3.50%	3.50%
Unamortized debt issuance cost					$ 8
Unamortized discount					9
Long-term debt					953	$ 984
Other long-term debt [Member]
Long-term debt [Line Items]
Long-term debt					$ 26	$ 25

Debt, Description of fair value

Debt, Description of fair value adjustments for senior and guaranteed notes (Details) - USD ($) $ in Millions	1 Months Ended	3 Months Ended		12 Months Ended	15 Months Ended	24 Months Ended	27 Months Ended	48 Months Ended	51 Months Ended
	Mar. 31, 2017	Mar. 31, 2018	Mar. 31, 2017	Dec. 31, 2017	Mar. 31, 2018	Dec. 31, 2017	Mar. 31, 2018	Dec. 31, 2017	Mar. 31, 2018
Interest rate swap fair value adjustments related to long-term debt [Line Items]
Gain (loss) on fair value adjustments of the hedged item related to interest rate swaps		$ 44	$ (35)					$ 47	$ 91
Senior Notes due 2019, $1,000 million, 5.0% [Member]
Interest rate swap fair value adjustments related to long-term debt [Line Items]
Maturity year	2,019	2,019	2,019	2,019
Stated interest rate (in hundredths)	5.00%	5.00%	5.00%	5.00%	5.00%	5.00%	5.00%	5.00%	5.00%
Inception Year		2,014	2,014	2,014
Gain (loss) on fair value adjustments of the hedged item related to interest rate swaps		$ (1)	$ (36)					$ 36	$ 35
Cumulative fair value hedging adjustment remaining for discontinued hedges		$ 25		$ 31
Charges associated with the redemption of Senior Notes due 2019	$ (44)		$ (44)
Senior Notes due 2021, $1,000 million, 6.0% [Member]
Interest rate swap fair value adjustments related to long-term debt [Line Items]
Maturity year		2,021	2,021	2,021
Stated interest rate (in hundredths)		6.00%		6.00%	6.00%	6.00%	6.00%	6.00%	6.00%
Inception Year		2,016	2,016	2,016
Gain (loss) on fair value adjustments of the hedged item related to interest rate swaps		$ 14	$ 2			$ 12	$ 26
Guaranteed Notes due 2027, $1,000 million, 3.50% [Member]
Interest rate swap fair value adjustments related to long-term debt [Line Items]
Maturity year	2,027	2,027	2,027	2,027
Stated interest rate (in hundredths)	3.50%	3.50%	3.50%	3.50%	3.50%	3.50%	3.50%	3.50%	3.50%
Inception Year		2,017	2,017	2,017
Gain (loss) on fair value adjustments of the hedged item related to interest rate swaps		$ 31	$ (1)	$ (1)	$ 30

Debt, Short-term debt (Details)

Debt, Short-term debt (Details) - USD ($) $ in Millions	Mar. 31, 2018	Dec. 31, 2017
Short-term debt [Line Items]
Short-term debt	$ 77	$ 68
$2,500 million Senior Revolving Credit Facility [Member]
Short-term debt [Line Items]
Maximum borrowing capacity on line of credit	2,500	2,500
Short-term debt	0	0
$900 million U.S. Receivables Securitization Facility [Member]
Short-term debt [Line Items]
Maximum borrowing capacity on line of credit	900	900
Short-term debt	0	0
Commercial paper [Member]
Short-term debt [Line Items]
Maximum borrowing capacity on line of credit	2,500
Short-term debt	0	0
Precious metal financings [Member]
Short-term debt [Line Items]
Short-term debt	73	64
Other short-term debt [Member]
Short-term debt [Line Items]
Short-term debt	$ 4	$ 4

Debt, Description of long-term

Debt, Description of long-term debt (Details) - USD ($) $ in Millions	1 Months Ended	3 Months Ended		12 Months Ended
	Mar. 31, 2017	Mar. 31, 2018	Mar. 31, 2017	Dec. 31, 2017
Description of long-term debt changes [Line Items]
Redemption of 5% Senior Notes due 2019		$ 0	$ 1,000
Guaranteed Notes due 2027, $1,000 million, 3.50% [Member]
Description of long-term debt changes [Line Items]
Issuance date	March 2,017
Percentage ownership by parent of finance subsidiary (in hundredths)	100.00%		100.00%
Face amount	$ 1,000	$ 1,000	$ 1,000	$ 1,000
Interest rate (in hundredths)	3.50%	3.50%	3.50%	3.50%
Maturity year	2,027	2,027	2,027	2,027
Discounted price at which long-term debt was issued (in hundredths)	98.968%		98.968%
Senior Notes due 2019, $1,000 million, 5.0% [Member]
Description of long-term debt changes [Line Items]
Face amount		$ 1,000		$ 1,000
Interest rate (in hundredths)	5.00%	5.00%	5.00%	5.00%
Maturity year	2,019	2,019	2,019	2,019
Redemption of 5% Senior Notes due 2019	$ 1,000
Premium paid on redemption of Senior Notes due 2019	65
Write-off of debt issuance costs	4
Charges associated with the redemption of Senior Notes due 2019	$ (44)		$ (44)

Debt, Description of short-term

Debt, Description of short-term debt (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2018	Dec. 31, 2017
Description of short-term debt [Line Items]
Weighted average interest rate, short-term debt (in hundredths)	4.10%	1.80%
$2,500 million Senior Revolving Credit Facility [Member]
Description of short-term debt [Line Items]
Expiration date	June 2,022
Maximum allowed letters of credit	$ 500
Maximum borrowing capacity	2,500	$ 2,500
Additional borrowing capacity, uncommitted loans	$ 1,000
Terms of debt covenants	The facility contains customary covenants and warranties, including specified restrictions on indebtedness and liens. In addition, we are required to maintain a leverage ratio at the end of every fiscal quarter of 3.50 to 1.00 or less for the period covering the most recent four quarters.
Commercial paper program [Member]
Description of short-term debt [Line Items]
Maximum borrowing capacity	$ 2,500
$900 million U.S. Receivables Securitization Facility [Member]
Description of short-term debt [Line Items]
Expiration date	August 2,018
Maximum allowed letters of credit	$ 200
Maximum borrowing capacity	900	$ 900
Additional borrowing capacity, uncommitted loans	$ 300
Terms of debt covenants	The term of the securitization facility may be extended in accordance with the terms of the agreement. The facility is also subject to customary warranties and covenants, including limits and reserves and the maintenance of specified financial ratios. We are required to maintain a leverage ratio at the end of every fiscal quarter of 3.50 to 1.00 or less for the period covering the most recent four quarters. Performance obligations under the facility are guaranteed by the parent company.
Outstanding borrowings	$ 0
Outstanding letters of credit	$ 0

Debt, Debt discount and issuanc

Debt, Debt discount and issuance costs (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Debt discount and issuance costs [Abstract]
Amortization of debt discounts and debt issuance costs	$ 4	$ 8

Debt, Formation of LYB Internat

Debt, Formation of LYB International Finance III, LLC (Details)	1 Months Ended
	Dec. 28, 2016
Formation of direct, 100% owned finance subsidiary [Abstract]
LYB International Finance III, LLC formation date	Dec. 28, 2016
LYB International Finance III, LLC state of formation	Delaware
LYB International Finance III, LLC business activities and description	LYB International Finance III, LLC is a direct, 100% owned finance subsidiary of LyondellBasell N.V., as defined in Rule 3-10(b) of Regulation S-X. Any debt securities issued by LYB International Finance III, LLC will be fully and unconditionally guaranteed by LyondellBasell N.V.

Financial Instruments and Fai45

Financial Instruments and Fair Value, Market risks, commodity prices and foreign currency rates (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	Dec. 31, 2017
Marketable securities [Abstract]
Amount of marketable securities classified as cash and cash equivalents	$ 1,312		$ 1,035
Foreign currency [Abstract]
Foreign currency gains (losses)	$ 6	$ (5)

Financial Instruments and Fai46

Financial Instruments and Fair Value Measurements, Summary of derivative and non-derivative financial instruments outstanding measured at fair value on a recurring basis (Details) - USD ($) $ in Millions	3 Months Ended	12 Months Ended
	Mar. 31, 2018	Dec. 31, 2017
Derivative and non-derivative assets and liabilities at fair value, net, by balance sheet classification [Abstract]
Notional amount, derivative and non-derivative financial instruments assets	$ 2,595	$ 4,056
Notional amount, derivative and non-derivative financial instruments liabilities	7,029	5,694
Fair value, derivative and non-derivative financial instruments assets	1,142	1,399
Fair value, derivative and non-derivative financial instruments liabilities	$ 410	$ 330
Derivatives and available-for-sale debt securities, fair value level description	All derivatives and available-for-sale debt securities in the tables above are classified as Level 2. Our limited partnership investments included in our equity securities discussed below, are measured at fair value using the net asset value (“NAV”) per share (or its equivalent) practical expedient and have not been classified in the fair value hierarchy.	All derivatives and available-for-sale debt securities in the tables above are classified as Level 2. Our limited partnership investments included in our equity securities discussed below, are measured at fair value using the net asset value (“NAV”) per share (or its equivalent) practical expedient and have not been classified in the fair value hierarchy.
Derivatives: [Member] | Designated as hedges: [Member] | Commodities [Member] | Accrued liabilities [Member]
Derivative and non-derivative assets and liabilities at fair value, net, by balance sheet classification [Abstract]
Notional amount, derivative and non-derivative financial instruments liabilities	$ 71	$ 97
Fair value, derivative and non-derivative financial instruments liabilities	7	8
Derivatives: [Member] | Designated as hedges: [Member] | Commodities [Member] | Other liabilities [Member]
Derivative and non-derivative assets and liabilities at fair value, net, by balance sheet classification [Abstract]
Notional amount, derivative and non-derivative financial instruments liabilities	3	5
Fair value, derivative and non-derivative financial instruments liabilities	0	0
Derivatives: [Member] | Designated as hedges: [Member] | Foreign currency [Member] | Prepaid expenses and other current assets [Member]
Derivative and non-derivative assets and liabilities at fair value, net, by balance sheet classification [Abstract]
Notional amount, derivative and non-derivative financial instruments assets	498	0
Fair value, derivative and non-derivative financial instruments assets	54	26
Derivatives: [Member] | Designated as hedges: [Member] | Foreign currency [Member] | Other assets [Member]
Derivative and non-derivative assets and liabilities at fair value, net, by balance sheet classification [Abstract]
Notional amount, derivative and non-derivative financial instruments assets	0	2,000
Fair value, derivative and non-derivative financial instruments assets	0	25
Derivatives: [Member] | Designated as hedges: [Member] | Foreign currency [Member] | Accrued liabilities [Member]
Derivative and non-derivative assets and liabilities at fair value, net, by balance sheet classification [Abstract]
Notional amount, derivative and non-derivative financial instruments liabilities	139	139
Fair value, derivative and non-derivative financial instruments liabilities	52	29
Derivatives: [Member] | Designated as hedges: [Member] | Foreign currency [Member] | Other liabilities [Member]
Derivative and non-derivative assets and liabilities at fair value, net, by balance sheet classification [Abstract]
Notional amount, derivative and non-derivative financial instruments liabilities	2,950	950
Fair value, derivative and non-derivative financial instruments liabilities	237	140
Derivatives: [Member] | Designated as hedges: [Member] | Interest rates [Member] | Prepaid expenses and other current assets [Member]
Derivative and non-derivative assets and liabilities at fair value, net, by balance sheet classification [Abstract]
Notional amount, derivative and non-derivative financial instruments assets	0	0
Fair value, derivative and non-derivative financial instruments assets	26	20
Derivatives: [Member] | Designated as hedges: [Member] | Interest rates [Member] | Other assets [Member]
Derivative and non-derivative assets and liabilities at fair value, net, by balance sheet classification [Abstract]
Notional amount, derivative and non-derivative financial instruments assets	600	650
Fair value, derivative and non-derivative financial instruments assets	13	1
Derivatives: [Member] | Designated as hedges: [Member] | Interest rates [Member] | Accrued liabilities [Member]
Derivative and non-derivative assets and liabilities at fair value, net, by balance sheet classification [Abstract]
Notional amount, derivative and non-derivative financial instruments liabilities	0	0
Fair value, derivative and non-derivative financial instruments liabilities	5	5
Derivatives: [Member] | Designated as hedges: [Member] | Interest rates [Member] | Other liabilities [Member]
Derivative and non-derivative assets and liabilities at fair value, net, by balance sheet classification [Abstract]
Notional amount, derivative and non-derivative financial instruments liabilities	3,400	3,350
Fair value, derivative and non-derivative financial instruments liabilities	67	58
Derivatives: [Member] | Not designated as hedges: [Member] | Commodities [Member] | Prepaid expenses and other current assets [Member]
Derivative and non-derivative assets and liabilities at fair value, net, by balance sheet classification [Abstract]
Notional amount, derivative and non-derivative financial instruments assets	74	77
Fair value, derivative and non-derivative financial instruments assets	5	20
Derivatives: [Member] | Not designated as hedges: [Member] | Commodities [Member] | Accrued liabilities [Member]
Derivative and non-derivative assets and liabilities at fair value, net, by balance sheet classification [Abstract]
Notional amount, derivative and non-derivative financial instruments liabilities	65	108
Fair value, derivative and non-derivative financial instruments liabilities	8	29
Derivatives: [Member] | Not designated as hedges: [Member] | Foreign currency [Member] | Prepaid expenses and other current assets [Member]
Derivative and non-derivative assets and liabilities at fair value, net, by balance sheet classification [Abstract]
Notional amount, derivative and non-derivative financial instruments assets	377	19
Fair value, derivative and non-derivative financial instruments assets	2	0
Derivatives: [Member] | Not designated as hedges: [Member] | Foreign currency [Member] | Accrued liabilities [Member]
Derivative and non-derivative assets and liabilities at fair value, net, by balance sheet classification [Abstract]
Notional amount, derivative and non-derivative financial instruments liabilities	372	995
Fair value, derivative and non-derivative financial instruments liabilities	5	11
Non-derivatives: [Member] | Available-for-sale debt securities [Member] | Short-term investments [Member]
Derivative and non-derivative assets and liabilities at fair value, net, by balance sheet classification [Abstract]
Notional amount, derivative and non-derivative financial instruments assets	696	960
Fair value, derivative and non-derivative financial instruments assets	696	960
Non-derivatives: [Member] | Equity securities [Member] | Short-term investments [Member]
Derivative and non-derivative assets and liabilities at fair value, net, by balance sheet classification [Abstract]
Notional amount, derivative and non-derivative financial instruments assets	350	350
Fair value, derivative and non-derivative financial instruments assets	346	347
Non-derivatives: [Member] | Performance share awards [Member] | Accrued liabilities [Member]
Derivative and non-derivative assets and liabilities at fair value, net, by balance sheet classification [Abstract]
Notional amount, derivative and non-derivative financial instruments liabilities	28	23
Fair value, derivative and non-derivative financial instruments liabilities	28	23
Non-derivatives: [Member] | Performance share awards [Member] | Other liabilities [Member]
Derivative and non-derivative assets and liabilities at fair value, net, by balance sheet classification [Abstract]
Notional amount, derivative and non-derivative financial instruments liabilities	1	27
Fair value, derivative and non-derivative financial instruments liabilities	$ 1	$ 27

Financial Instruments and Fai47

Financial Instruments and Fair Value Measurements, Outstanding foreign currency and commodity contracts (Details) - Not designated as hedges: [Member]	3 Months Ended
	Mar. 31, 2018
Foreign currency rates [Member] | Minimum [Member]
Derivative [Line Items]
Derivative, maturity date	2018-04
Foreign currency rates [Member] | Maximum [Member]
Derivative [Line Items]
Derivative, maturity date	2018-06
Commodities [Member] | Minimum [Member]
Derivative [Line Items]
Derivative, maturity date	2018-04
Commodities [Member] | Maximum [Member]
Derivative [Line Items]
Derivative, maturity date	2019-01

Financial Instruments and Fai48

Financial Instruments and Fair Value Measurements, Carrying value and estimated fair value of non-derivative financial instruments (Details) - USD ($) $ in Millions	3 Months Ended	12 Months Ended
	Mar. 31, 2018	Dec. 31, 2017
Liabilities: [Abstract]
Short-term debt, carrying value	$ 77	$ 68
Non-derivatives, fair value level description	All financial instruments in the table above are classified as Level 2.
Amount of transfers between Level 1 and Level 2 of the fair value hierarchy	$ 0	0
Nonrecurring [Member] | Non-derivatives: [Member]
Assets: [Abstract]
Short-term loans receivable, carrying value	586	570
Short-term loans receivable, fair value	586	570
Liabilities: [Abstract]
Short-term debt, carrying value	73	64
Long-term debt, carrying value	8,510	8,526
Total liabilities, carrying value	8,583	8,590
Short-term debt, fair value	71	75
Long-term debt, fair value	9,158	9,442
Total liabilities, fair value	$ 9,229	$ 9,517

Financial Instruments and Fai49

Financial Instruments and Fair Value Measurements, Summary of net investment hedges (Details) - Net-investment hedge [Member] € in Millions, $ in Millions	3 Months Ended	12 Months Ended
	Mar. 31, 2017USD ($)	Dec. 31, 2016EUR (€)	Mar. 31, 2018EUR (€)	Mar. 31, 2018USD ($)	Dec. 31, 2017EUR (€)	Dec. 31, 2017USD ($)
Derivative [Line Items]
Gain (loss) recognized related to the ineffectiveness of net investment hedging relationship | $	$ 0
Derivatives: [Member] | Foreign currency contracts [Member]
Derivative [Line Items]
Notional amounts, initial value of derivatives			€ 400		€ 617
Notional amounts value			1,142	$ 1,287	742	$ 789
Non-derivatives: [Member] | Foreign-currency denominated debt [Member]
Derivative [Line Items]
Notional amounts value			€ 750	$ 925	€ 750	$ 899
Non-derivatives: [Member] | Euro denominated notes payable due 2022 [Member]
Derivative [Line Items]
Notional amounts value		€ 750
Maturity year		2,022

Financial Instruments and Fai50

Financial Instruments and Fair Value Measurements, Summary of cash flow hedges (Details) - Cash-flow hedge [Member] - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	Dec. 31, 2017
Derivative [Line Items]
Gain (loss) recognized related to the ineffectiveness of cash flow hedging relationships		$ 0
Pre-tax deferred gains (losses) scheduled to be reclassified from AOCI to interest expense over the next twelve months	less than $1 million
Pre-tax unrealized gain (loss) to be reclassified to cost of sales over the next twelve months	$ 7
Foreign currency [Member]
Derivative [Line Items]
Notional amounts value	$ 2,300		$ 2,300
Foreign currency [Member] | Minimum [Member]
Derivative [Line Items]
Expiration Date	2,021
Foreign currency [Member] | Maximum [Member]
Derivative [Line Items]
Expiration Date	2,027
Interest rate contract [Member]
Derivative [Line Items]
Notional amounts value	$ 1,000		1,000
Expiration Date	2,019
Commodity contract [Member]
Derivative [Line Items]
Notional amounts value	$ 74		$ 102
Commodity contract [Member] | Minimum [Member]
Derivative [Line Items]
Expiration Date	2,018
Commodity contract [Member] | Maximum [Member]
Derivative [Line Items]
Expiration Date	2,019

Financial Instruments and Fai51

Financial Instruments and Fair Value Measurements, Summary of fair value hedges (Details) - USD ($) $ in Millions	1 Months Ended		3 Months Ended		12 Months Ended
	Mar. 31, 2017	Feb. 28, 2017	Mar. 31, 2018	Mar. 31, 2017	Dec. 31, 2017
Senior Notes due 2019 [Member]
Derivative [Line Items]
Face amount			$ 1,000		$ 1,000
Stated interest rate (in hundredths)	5.00%		5.00%	5.00%	5.00%
Maturity year	2,019		2,019	2,019	2,019
Fixed-for-floating interest rate swaps [Member]
Derivative [Line Items]
Gain (loss) recognized related to the ineffectiveness of fair value hedging relationships				$ 0
Fixed-for-floating interest rate swaps [Member] | Interest rates [Member]
Derivative [Line Items]
Notional amounts value			$ 3,000		$ 3,000
Fixed-for-floating interest rate swaps [Member] | Interest rates [Member] | Minimum [Member]
Derivative [Line Items]
Derivative, maturity date			2,019
Fixed-for-floating interest rate swaps [Member] | Interest rates [Member] | Maximum [Member]
Derivative [Line Items]
Derivative, maturity date			2,027
Fixed-for-floating interest rate swaps [Member] | Interest rates [Member] | Guaranteed Notes due 2027 [Member]
Derivative [Line Items]
Face amount		$ 1,000
Stated interest rate (in hundredths)		3.50%
Maturity year		2,027
Fixed-for-floating interest rate swaps [Member] | Interest rates [Member] | Senior Notes due 2019 [Member]
Derivative [Line Items]
Dedesignation of fixed-for-floating interest rate swap hedging arrangement				In March 2017, concurrent with the redemption of $1,000 million of our outstanding 5% senior notes due 2019, we dedesignated the related $2,000 million fair value hedge and terminated swaps in the notional amount of $1,000 million. At the same time, we redesignated the remaining $1,000 million notional amount of swaps as a fair value hedge of the remaining $1,000 million of 5% senior notes outstanding.
Face amount	$ 1,000			$ 1,000
Stated interest rate (in hundredths)	5.00%			5.00%
Maturity year				2,019

Financial Instruments and Fai52

Financial Instruments and Fair Value Measurements, Pretax effect of derivative instruments charged directly to income (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Derivative instruments gain (loss) [Line Items]
Gain (loss) recognized in AOCI	$ (104)	$ (34)
Gain (loss) reclassified from AOCI to income	66	25
Gain (loss) recognized in income	(53)	(2)
Amount of gain (loss) recognized in other comprehensive income on derivative amount excluded for effectiveness testing	4
Amount of gain (loss) recognized in income on derivative amount excluded for effectiveness testing	5
Pretax effect of the periodic receipt of fixed interest and payment of variable interest	3	7
Derivatives: [Member] | Designated as hedges: [Member] | Designated as net investment hedges: [Member] | Foreign currency contracts [Member] | Interest expense [Member]
Derivative instruments gain (loss) [Line Items]
Gain (loss) recognized in AOCI	(17)	(22)
Gain (loss) reclassified from AOCI to income	0	0
Gain (loss) recognized in income	5	0
Derivatives: [Member] | Designated as hedges: [Member] | Designated as cash flow hedges: [Member] | Commodities [Member] | Cost of sales [Member]
Derivative instruments gain (loss) [Line Items]
Gain (loss) recognized in AOCI	(3)	(2)
Gain (loss) reclassified from AOCI to income	4	0
Gain (loss) recognized in income	0	0
Derivatives: [Member] | Designated as hedges: [Member] | Designated as cash flow hedges: [Member] | Foreign currency contracts [Member]
Derivative instruments gain (loss) [Line Items]
Gain (loss) reclassified from AOCI to income	62
Derivatives: [Member] | Designated as hedges: [Member] | Designated as cash flow hedges: [Member] | Foreign currency contracts [Member] | Other income (expense), net; Interest expense [Member]
Derivative instruments gain (loss) [Line Items]
Gain (loss) recognized in AOCI	(108)	(7)
Gain (loss) reclassified from AOCI to income	62	25
Gain (loss) recognized in income	8	12
Derivatives: [Member] | Designated as hedges: [Member] | Designated as cash flow hedges: [Member] | Interest rate contract [Member] | Interest expense [Member]
Derivative instruments gain (loss) [Line Items]
Gain (loss) recognized in AOCI	49	7
Gain (loss) reclassified from AOCI to income	0	0
Gain (loss) recognized in income	0	0
Derivatives: [Member] | Designated as hedges: [Member] | Designated as fair value hedges: [Member] | Interest rate contract [Member] | Interest expense [Member]
Derivative instruments gain (loss) [Line Items]
Gain (loss) recognized in AOCI	0	0
Gain (loss) reclassified from AOCI to income	0	0
Gain (loss) recognized in income	(44)	(1)
Derivatives: [Member] | Not designated as hedges: [Member] | Commodities [Member] | Sales and other operating revenues [Member]
Derivative instruments gain (loss) [Line Items]
Gain (loss) recognized in AOCI	0	0
Gain (loss) reclassified from AOCI to income	0	0
Gain (loss) recognized in income	1	(1)
Derivatives: [Member] | Not designated as hedges: [Member] | Commodities [Member] | Cost of sales [Member]
Derivative instruments gain (loss) [Line Items]
Gain (loss) recognized in AOCI	0	0
Gain (loss) reclassified from AOCI to income	0	0
Gain (loss) recognized in income	(4)	(11)
Derivatives: [Member] | Not designated as hedges: [Member] | Foreign currency contracts [Member] | Other income (expense), net [Member]
Derivative instruments gain (loss) [Line Items]
Gain (loss) recognized in AOCI	0	0
Gain (loss) reclassified from AOCI to income	0	0
Gain (loss) recognized in income	(19)	(1)
Non-derivatives: [Member] | Designated as hedges: [Member] | Designated as net investment hedges: [Member] | Long-term debt [Member] | Other income (expense), net [Member]
Derivative instruments gain (loss) [Line Items]
Gain (loss) recognized in AOCI	(25)	(10)
Gain (loss) reclassified from AOCI to income	0	0
Gain (loss) recognized in income	$ 0	$ 0

Financial Instruments and Fai53

Financial Instruments and Fair Value Measurements, Summary of available-for-sale debt securities (Details) - USD ($) $ in Millions	3 Months Ended		12 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	Dec. 31, 2017
Available-for-sale securities [Abstract]
Cost	$ 696		$ 1,310
Gross unrealized gains	1		2
Gross unrealized losses	(1)		(5)
Fair value	696		1,307
Available-for-sale and held-to-maturity securities, additional information [Abstract]
Amount of losses related to other-than-temporary impairments on available-for-sale debt securities	0		0
Proceeds from maturities and sales of available-for-sale securities and the related gross realized gains and losses [Abstract]
Proceeds from maturities of securities	335	$ 338
Proceeds from sales of securities	0	0
Gross realized gains	0	0
Gross realized losses	0	0
Proceeds from maturities of held-to-maturity securities		$ 44
Commercial paper [Member]
Available-for-sale securities [Abstract]
Cost	50		180
Gross unrealized gains	0		0
Gross unrealized losses	0		0
Fair value	$ 50		180
Available-for-sale and held-to-maturity securities, additional information [Abstract]
Investment maturity period	3 months
Bonds [Member]
Available-for-sale securities [Abstract]
Cost	$ 646		630
Gross unrealized gains	1		0
Gross unrealized losses	(1)		0
Fair value	646		630
Available-for-sale and held-to-maturity securities continuous unrealized loss position [Abstract]
Fair value of available-for-sale securities in continuous unrealized loss position for less than twelve months	247
Unrealized losses on available-for-sale securities in continuous unrealized loss position for less than twelve months	(1)
Fair value of available-for-sale securities in continuous unrealized loss position for greater than twelve months	25
Unrealized losses on available-for-sale securities in continuous unrealized loss position for greater than twelve months	$ 0
Bonds [Member] | Minimum [Member]
Available-for-sale and held-to-maturity securities, additional information [Abstract]
Investment maturity period	3 months
Bonds [Member] | Maximum [Member]
Available-for-sale and held-to-maturity securities, additional information [Abstract]
Investment maturity period	31 months
Certificates of deposit [Member]
Available-for-sale securities [Abstract]
Cost			150
Gross unrealized gains			0
Gross unrealized losses			0
Fair value			150
Limited partnership investments [Member]
Available-for-sale securities [Abstract]
Cost			350
Gross unrealized gains			2
Gross unrealized losses			(5)
Fair value			347
Available-for-sale and held-to-maturity securities continuous unrealized loss position [Abstract]
Fair value of available-for-sale securities in continuous unrealized loss position for less than twelve months			117
Unrealized losses on available-for-sale securities in continuous unrealized loss position for less than twelve months			(5)
Fair value of available-for-sale securities in continuous unrealized loss position for greater than twelve months			0
Unrealized losses on available-for-sale securities in continuous unrealized loss position for greater than twelve months			$ 0

Financial Instruments, Equity S

Financial Instruments, Equity Securities (Details) $ in Millions	3 Months Ended
	Mar. 31, 2018USD ($)
Unrealized gains and losses for equity securities [Abstract]
Net gains and (losses) recognized during the period	$ (1)
Net gains and (losses) recognized during the period on securities sold	0
Unrealized gains and (losses) recognized during the period	$ (1)

Pension and Other Postretirem55

Pension and Other Postretirement Benefits (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
U.S. [Member] | Pension plan [Member]
Net periodic pension and other postretirement benefit costs (credits): [Abstract]
Service cost	$ 13	$ 12
Interest cost	15	15
Expected return on plan assets	(30)	(30)
Actuarial and investment loss amortization	5	5
Net periodic benefit costs (credits)	3	2
U.S. [Member] | Other postretirement benefits plan [Member]
Net periodic pension and other postretirement benefit costs (credits): [Abstract]
Service cost	1	1
Interest cost	2	2
Actuarial and investment loss amortization	0	0
Net periodic benefit costs (credits)	3	3
Non-U.S. [Member] | Pension plan [Member]
Net periodic pension and other postretirement benefit costs (credits): [Abstract]
Service cost	9	9
Interest cost	8	5
Expected return on plan assets	(6)	(4)
Actuarial and investment loss amortization	3	4
Net periodic benefit costs (credits)	14	14
Non-U.S. [Member] | Other postretirement benefits plan [Member]
Net periodic pension and other postretirement benefit costs (credits): [Abstract]
Service cost	1	1
Interest cost	0	0
Actuarial and investment loss amortization	0	1
Net periodic benefit costs (credits)	$ 1	$ 2

Income Taxes (Details)

Income Taxes (Details)	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Effective income tax rate [Abstract]
Effective income tax rate (in hundredths)	19.80%	28.10%

Income Taxes, Components of inc

Income Taxes, Components of income tax provision (Details) - United States [Member] $ in Millions	12 Months Ended
	Dec. 31, 2017USD ($)
Corporate income tax rate [Line Items]
Corporate income tax rate (in hundredths)	35.00%
Tax Cuts and Jobs Act of 2017, new statutory tax rate effective 1/1/2018 (in hundredths)	21.00%
Remeasurement of U.S. net deferred tax liability	$ 819

Commitments and Contingencies58

Commitments and Contingencies (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Environmental remediation [Abstract]
Total accrued liability for future environmental remediation costs	$ 102	$ 94
Accrual for environmental loss contingencies [Roll Forward]
Beginning balance	102	95
Amounts paid	(2)	(2)
Foreign exchange effects	2	1
Ending balance	$ 102	$ 94
Minimum [Member]
Site contingencies [Line Items]
Accrued liability for individual site range	less than $1 million
Maximum [Member]
Site contingencies [Line Items]
Accrued liability for individual site range	$19 million

Commitments and Contingencies,

Commitments and Contingencies, Loss contingencies (Details) - USD ($)	1 Months Ended		3 Months Ended
	Apr. 30, 2017	Jun. 30, 2009	Mar. 31, 2018
Minimum [Member]
Loss contingencies [Line Items]
Technology licensing contracts indemnification period			5 years
Maximum [Member]
Loss contingencies [Line Items]
Technology licensing contracts indemnification period			10 years
Pending or threatened litigation [Member] | Affiliates of Access Industries indemnity demand letter [Member]
Loss contingencies [Line Items]
Description of parties who issued the demand letters			affiliates of Access Industries (collectively, “Access Entities”), a more than five percent shareholder of the Company
Description of indemnity demanded			demanding indemnity for losses, including attorney’s fees and expenses, arising out of a 2007 management agreement and a pending lawsuit styled Edward S. Weisfelner, as Litigation Trustee of the LB Litigation Trust v. Leonard Blavatnik, et al., Adversary Proceeding No. 09-1375 (REG), in the United States Bankruptcy Court, Southern District of New York.
Award to plaintiffs in lawsuit	$ 12,600,000
Pending or threatened litigation [Member] | Affiliates of Access Industries management agreement fee demand letters [Member]
Loss contingencies [Line Items]
Description of parties who issued the demand letters			affiliates of Access Industries (collectively, “Access Entities”), a more than five percent shareholder of the Company
Amount of management fees demanded			$ 100,000,000
Pending or threatened litigation [Member] | Affiliates of Access Industries management agreement fee demand letters [Member] | Predecessor [Member]
Loss contingencies [Line Items]
Description of parties who issued the demand letters		affiliates of Access Industries (collectively, “Access Entities”), a more than five percent shareholder of the Company
Proof of claim for management fees previously filed in Bankruptcy Court		$ 723,963.65

Stockholders' Equity, Dividend

Stockholders' Equity, Dividend distributions (Details) $ / shares in Units, $ in Millions	Mar. 12, 2018USD ($)$ / shares
Summary of dividend payments [Abstract]
Dividend per ordinary share (per share) | $ / shares	$ 1
Aggregate dividends paid | $	$ 395
Date of record	Mar. 5, 2018

Stockholders' Equity, Share rep

Stockholders' Equity, Share repurchase programs (Details) - USD ($) $ / shares in Units, $ in Millions	1 Months Ended		3 Months Ended
	May 31, 2017	May 31, 2016	Mar. 31, 2018	Mar. 31, 2017
Share repurchase programs [Line Items]
Cash paid for shares repurchased			$ 119	$ 160
May 2016 share repurchase program [Member]
Share repurchase programs [Line Items]
Approval date of share repurchase program		2016-05
Shares repurchased (in shares)				1,533,713
Average purchase price (in dollars per share)				$ 90.64
Total purchase price, including commissions				$ 139
May 2017 share repurchase program [Member]
Share repurchase programs [Line Items]
Approval date of share repurchase program	2017-05
Percent of outstanding shares authorized to be repurchased under a share repurchase program (in hundredths)	10.00%
The date through which shares are authorized for repurchase under a share repurchase program	2018-11
Shares repurchased (in shares)			1,292,480
Average purchase price (in dollars per share)			$ 107.17
Total purchase price, including commissions			$ 138

Stockholders' Equity, Ordinary

Stockholders' Equity, Ordinary shares (Details) - shares	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Ordinary shares outstanding: [Abstract]
Beginning balance (in shares)	394,512,054
Ending balance (in shares)	393,482,424
Ordinary shares [Member]
Ordinary shares outstanding: [Abstract]
Beginning balance (in shares)	394,512,054	404,046,331
Share-based compensation (in shares)	235,671	237,758
Warrants exercised (in shares)	0	4,099
Employee stock purchase plan (in shares)	27,179	26,909
Purchase of ordinary shares (in shares)	(1,292,480)	(1,533,713)
Ending balance (in shares)	393,482,424	402,781,384

Stockholders' Equity, Treasury

Stockholders' Equity, Treasury shares (Details) - shares	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Ordinary shares held as treasury shares: [Abstract]
Beginning balance (in shares)	183,928,109
Ending balance (in shares)	184,957,739
Treasury shares [Member]
Ordinary shares held as treasury shares: [Abstract]
Beginning balance (in shares)	183,928,109	174,389,139
Share-based compensation (in shares)	(235,671)	(237,758)
Warrants exercised (in shares)	0	509
Employee stock purchase plan (in shares)	(27,179)	(26,909)
Purchase of ordinary shares (in shares)	1,292,480	1,533,713
Ending balance (in shares)	184,957,739	175,658,694

Stockholders' Equity, Component

Stockholders' Equity, Components of accumulated other comprehensive income (loss) (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Accumulated other comprehensive income (loss) [Line Items]
Accumulated other comprehensive income (loss), beginning of period	$ (1,285)	$ (1,511)
Adoption of accounting standards	(70)
Other comprehensive income (loss) before reclassifications	(24)	43
Tax (expense) benefit before reclassifications	20	5
Amounts reclassified from accumulated other comprehensive income (loss)	74	35
Tax (expense) benefit	(16)	(10)
Total other comprehensive income, net of tax	54	73
Accumulated other comprehensive income (loss), end of period	(1,301)	(1,438)
Financial derivatives [Member]
Accumulated other comprehensive income (loss) [Line Items]
Accumulated other comprehensive income (loss), beginning of period	(120)	(75)
Adoption of accounting standards	(2)
Other comprehensive income (loss) before reclassifications	(61)	(2)
Tax (expense) benefit before reclassifications	17	6
Amounts reclassified from accumulated other comprehensive income (loss)	66	25
Tax (expense) benefit	(15)	(7)
Total other comprehensive income, net of tax	7	22
Accumulated other comprehensive income (loss), end of period	(115)	(53)
Unrealized gains (losses) on available-for-sale debt securities [Member]
Accumulated other comprehensive income (loss) [Line Items]
Accumulated other comprehensive income (loss), beginning of period	0	1
Adoption of accounting standards	0
Other comprehensive income (loss) before reclassifications	0	(1)
Tax (expense) benefit before reclassifications	0	0
Amounts reclassified from accumulated other comprehensive income (loss)	0	0
Tax (expense) benefit	0	0
Total other comprehensive income, net of tax	0	(1)
Accumulated other comprehensive income (loss), end of period	0	0
Unrealized gains (losses) on equity securities and equity securities held by equity investees [Member]
Accumulated other comprehensive income (loss) [Line Items]
Accumulated other comprehensive income (loss), beginning of period	17	0
Adoption of accounting standards	(17)
Other comprehensive income (loss) before reclassifications	0	8
Tax (expense) benefit before reclassifications	0	1
Amounts reclassified from accumulated other comprehensive income (loss)	0	0
Tax (expense) benefit	0	0
Total other comprehensive income, net of tax	0	9
Accumulated other comprehensive income (loss), end of period	0	9
Defined benefit pension and other postretirement benefit plans [Member]
Accumulated other comprehensive income (loss) [Line Items]
Accumulated other comprehensive income (loss), beginning of period	(421)	(498)
Adoption of accounting standards	(51)
Other comprehensive income (loss) before reclassifications	0	0
Tax (expense) benefit before reclassifications	0	0
Amounts reclassified from accumulated other comprehensive income (loss)	8	10
Tax (expense) benefit	(1)	(3)
Total other comprehensive income, net of tax	7	7
Accumulated other comprehensive income (loss), end of period	(465)	(491)
Foreign currency translation adjustments [Member]
Accumulated other comprehensive income (loss) [Line Items]
Accumulated other comprehensive income (loss), beginning of period	(761)	(939)
Adoption of accounting standards	0
Other comprehensive income (loss) before reclassifications	37	38
Tax (expense) benefit before reclassifications	3	(2)
Amounts reclassified from accumulated other comprehensive income (loss)	0	0
Tax (expense) benefit	0	0
Total other comprehensive income, net of tax	40	36
Accumulated other comprehensive income (loss), end of period	$ (721)	$ (903)

Stockholders' Equity, Reclassif

Stockholders' Equity, Reclassification out of accumulated other comprehensive income (loss) (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Reclassification adjustments out of accumulated other comprehensive income (loss) [Line Items]
Other income (expense), net	$ 24	$ 30
Cost of sales	8,012	6,991
Income (loss) from continuing operations before income taxes	1,534	1,120
Provision for (benefit from) income taxes	303	315
Net income attributable to the Company shareholders	1,231	797
Amounts reclassified out of accumulated other comprehensive income (loss) [Member]
Reclassification adjustments out of accumulated other comprehensive income (loss) [Line Items]
Income (loss) from continuing operations before income taxes	74	35
Provision for (benefit from) income taxes	16	10
Net income attributable to the Company shareholders	58	25
Financial derivatives [Member] | Amounts reclassified out of accumulated other comprehensive income (loss) [Member]
Reclassification adjustments out of accumulated other comprehensive income (loss) [Line Items]
Provision for (benefit from) income taxes	15	7
Net income attributable to the Company shareholders	51	18
Financial derivatives [Member] | Foreign currency [Member] | Amounts reclassified out of accumulated other comprehensive income (loss) [Member]
Reclassification adjustments out of accumulated other comprehensive income (loss) [Line Items]
Other income (expense), net	62	25
Financial derivatives [Member] | Commodities [Member] | Amounts reclassified out of accumulated other comprehensive income (loss) [Member]
Reclassification adjustments out of accumulated other comprehensive income (loss) [Line Items]
Cost of sales	4	0
Amortization of defined pension items [Member] | Amounts reclassified out of accumulated other comprehensive income (loss) [Member]
Reclassification adjustments out of accumulated other comprehensive income (loss) [Line Items]
Amortization of actuarial (gain) loss	8	10
Provision for (benefit from) income taxes	1	3
Net income attributable to the Company shareholders	$ 7	$ 7

Per Share Data (Details)

Per Share Data (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Earnings per share reconciliation [Abstract]
Net income (loss)	$ 1,231	$ 797
Less: net (income) loss attributable to non-controlling interests	0	0
Net income attributable to the Company shareholders	$ 1,231	$ 797
Earnings (loss) per share: [Abstract]
Basic (in dollars per share)	$ 3.12	$ 1.98
Diluted (in dollars per share)	3.11	$ 1.98
Earnings per share, basic and diluted, other disclosures [Abstract]
Dividends declared per share of common stock (in dollars per share)	$ 1
Continuing operations [Member]
Earnings per share reconciliation [Abstract]
Net income (loss)	$ 1,231	$ 805
Less: net (income) loss attributable to non-controlling interests	0	0
Net income attributable to the Company shareholders	1,231	805
Net (income) loss attributable to participating securities	(1)	(1)
Net income (loss) attributable to ordinary shareholders - Basic	1,230	804
Net income (loss) attributable to ordinary shareholders - Diluted	$ 1,230	$ 804
Weighted average number of shares outstanding reconciliation [Abstract]
Basic weighted average common stock outstanding (in shares)	394	403
Effect of dilutive securities: [Abstract]
PSU awards (in shares)	1	0
Potential dilutive shares (in shares)	395	403
Earnings (loss) per share: [Abstract]
Basic (in dollars per share)	$ 3.12	$ 2
Diluted (in dollars per share)	$ 3.11	$ 2
Earnings per share, basic and diluted, other disclosures [Abstract]
Participating securities (in shares)	0.5	0.4
Dividends declared per share of common stock (in dollars per share)	$ 1	$ 0.85
Discontinued operations [Member]
Earnings per share reconciliation [Abstract]
Net income (loss)	$ 0	$ (8)
Less: net (income) loss attributable to non-controlling interests	0	0
Net income attributable to the Company shareholders	0	(8)
Net (income) loss attributable to participating securities	0	0
Net income (loss) attributable to ordinary shareholders - Basic	0	(8)
Net income (loss) attributable to ordinary shareholders - Diluted	$ 0	$ (8)
Weighted average number of shares outstanding reconciliation [Abstract]
Basic weighted average common stock outstanding (in shares)	394	403
Effect of dilutive securities: [Abstract]
PSU awards (in shares)	1	0
Potential dilutive shares (in shares)	395	403
Earnings (loss) per share: [Abstract]
Basic (in dollars per share)	$ 0	$ (0.02)
Diluted (in dollars per share)	$ 0	$ (0.02)
Earnings per share, basic and diluted, other disclosures [Abstract]
Participating securities (in shares)	0.5	0.4
Dividends declared per share of common stock (in dollars per share)	$ 0	$ 0

Segment and Related Informati67

Segment and Related Information (Details) $ in Millions	3 Months Ended
	Mar. 31, 2018USD ($)OperatingSegments	Mar. 31, 2017USD ($)
Segment and Related Information [Abstract]
Number of operating segments | OperatingSegments	5
Summarized financial information concerning reportable segments: [Abstract]
Sales and other operating revenues	$ 9,767	$ 8,430
Income from equity investments	96	81
EBITDA	1,913	1,617
O&P - Americas [Member]
Summarized financial information concerning reportable segments: [Abstract]
Sales and other operating revenues	1,882	1,999
Income from equity investments	17	14
EBITDA	780	723
Additional benefits (charges) recognized in various segments [Abstract]
Gain on sale of assets		31
O&P - EAI [Member]
Summarized financial information concerning reportable segments: [Abstract]
Sales and other operating revenues	3,485	2,967
Income from equity investments	76	66
EBITDA	518	529
I&D [Member]
Summarized financial information concerning reportable segments: [Abstract]
Sales and other operating revenues	2,310	2,121
Income from equity investments	3	1
EBITDA	486	339
Additional benefits (charges) recognized in various segments [Abstract]
Gain (loss) on precious metal catalysts		(40)
Refining [Member]
Summarized financial information concerning reportable segments: [Abstract]
Sales and other operating revenues	2,002	1,250
Income from equity investments	0	0
EBITDA	63	(30)
Technology [Member]
Summarized financial information concerning reportable segments: [Abstract]
Sales and other operating revenues	88	93
Income from equity investments	0	0
EBITDA	56	60
Operating segments [Member] | O&P - Americas [Member]
Summarized financial information concerning reportable segments: [Abstract]
Sales and other operating revenues	2,758	2,604
Operating segments [Member] | O&P - EAI [Member]
Summarized financial information concerning reportable segments: [Abstract]
Sales and other operating revenues	3,562	3,024
Operating segments [Member] | I&D [Member]
Summarized financial information concerning reportable segments: [Abstract]
Sales and other operating revenues	2,343	2,150
Operating segments [Member] | Refining [Member]
Summarized financial information concerning reportable segments: [Abstract]
Sales and other operating revenues	2,257	1,353
Operating segments [Member] | Technology [Member]
Summarized financial information concerning reportable segments: [Abstract]
Sales and other operating revenues	115	120
Intersegment eliminations [Member]
Summarized financial information concerning reportable segments: [Abstract]
Sales and other operating revenues	(1,268)	(821)
Intersegment eliminations [Member] | O&P - Americas [Member]
Summarized financial information concerning reportable segments: [Abstract]
Sales and other operating revenues	(876)	(605)
Intersegment eliminations [Member] | O&P - EAI [Member]
Summarized financial information concerning reportable segments: [Abstract]
Sales and other operating revenues	(77)	(57)
Intersegment eliminations [Member] | I&D [Member]
Summarized financial information concerning reportable segments: [Abstract]
Sales and other operating revenues	(33)	(29)
Intersegment eliminations [Member] | Refining [Member]
Summarized financial information concerning reportable segments: [Abstract]
Sales and other operating revenues	(255)	(103)
Intersegment eliminations [Member] | Technology [Member]
Summarized financial information concerning reportable segments: [Abstract]
Sales and other operating revenues	(27)	(27)
Other [Member]
Summarized financial information concerning reportable segments: [Abstract]
Sales and other operating revenues	0	0
Income from equity investments	0	0
EBITDA	$ 10	$ (4)

Segment and Related Informati68

Segment and Related Information, Reconciliation of EBITDA to income (loss) from continuing operations before income taxes (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
EBITDA: [Abstract]
Total segment EBITDA	$ 1,903	$ 1,621
Other EBITDA	10	(4)
Less: [Abstract]
Depreciation and amortization expense	(299)	(296)
Interest expense	(91)	(207)
Add: [Abstract]
Interest income	11	6
Income from continuing operations before income taxes	$ 1,534	$ 1,120