LyondellBasell Industries (LYB) 10-Q 29 Oct 21 2021 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2021	Oct. 27, 2021
Document And Entity Information [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2021
Document Transition Report	false
Entity File Number	001-34726
Entity Registrant Name	LYONDELLBASELL INDUSTRIES N.V.
Entity Incorporation, State or Country Code	P7
Entity Tax Identification Number	98-0646235
Title of 12(b) Security	Ordinary Shares, €0.04 Par Value
Trading Symbol	LYB
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		332,783,944
Entity Central Index Key	0001489393
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q3
Amendment Flag	false
Entity Addresses [Line Items]
Entity Address, Address Line One	1221 McKinney St.,
Entity Address, Address Line Two	Suite 300
Entity Address, City or Town	Houston,
Entity Address, State or Province	TX
Entity Address, Country	US
Entity Address, Postal Zip Code	77010
City Area Code	(713)
Local Phone Number	309-7200
United Kingdom [Member]
Entity Addresses [Line Items]
Entity Address, Address Line One	4th Floor, One Vine Street
Entity Address, City or Town	London
Entity Address, Country	GB
Entity Address, Postal Zip Code	W1J0AH
Country Region	+44 (0)
City Area Code	207
Local Phone Number	220 2600
Netherlands [Member]
Entity Addresses [Line Items]
Entity Address, Address Line One	Delftseplein 27E
Entity Address, City or Town	Rotterdam
Entity Address, Country	NL
Entity Address, Postal Zip Code	3013AA
Country Region	+31 (0)
City Area Code	10
Local Phone Number	2755 500

Consolidated Statements of Inco

Consolidated Statements of Income - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Sales and other operating revenues:
Trade	$ 12,401	$ 6,587	$ 32,586	$ 19,261
Related parties	299	189	757	555
Sales revenue, net	12,700	6,776	33,343	19,816
Operating costs and expenses:
Cost of sales	10,109	5,885	26,463	17,647
Impairment of long-lived assets	0	582	0	582
Selling, general and administrative expenses	313	259	927	842
Research and development expenses	30	27	91	79
Costs and expenses	10,452	6,753	27,481	19,150
Operating income	2,248	23	5,862	666
Interest expense	(126)	(122)	(366)	(336)
Interest income	1	3	8	10
Other (expense) income, net	(12)	23	27	27
Income (loss) from continuing operations before equity investments and income taxes	2,111	(73)	5,531	367
Income from equity investments	104	62	389	123
Income (loss) from continuing operations before income taxes	2,215	(11)	5,920	490
Provision for (benefit from) income taxes	452	(125)	1,028	(82)
Income from continuing operations	1,763	114	4,892	572
Loss from discontinued operations, net of tax	(1)	0	(1)	0
Net income	1,762	114	4,891	572
Dividends on redeemable non-controlling interests	(2)	(2)	(5)	(5)
Net income attributable to the Company shareholders	$ 1,760	$ 112	$ 4,886	$ 567
Net income attributable to the Company shareholders - Basic:
Continuing operations (in dollars per share)	$ 5.25	$ 0.33	$ 14.58	$ 1.69
Basic (in dollars per share)	5.25	0.33	14.58	1.69
Net income attributable to the Company shareholders - Diluted:
Continuing operations (in dollars per share)	5.25	0.33	14.57	1.69
Diluted (in dollars per share)	$ 5.25	$ 0.33	$ 14.57	$ 1.69

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Net income	$ 1,762	$ 114	$ 4,891	$ 572
Other comprehensive income (loss), net of tax –
Financial derivatives	35	75	132	(289)
Unrealized (losses) gains on available-for-sale debt securities	0	0	(1)	1
Defined benefit pension and other postretirement benefit plans	28	10	56	31
Foreign currency translations	(97)	86	(127)	(47)
Total other comprehensive (loss) income, net of tax	(34)	171	60	(304)
Comprehensive income	1,728	285	4,951	268
Dividends on redeemable non-controlling interests	(2)	(2)	(5)	(5)
Comprehensive income attributable to the Company shareholders	$ 1,726	$ 283	$ 4,946	$ 263

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Millions	Sep. 30, 2021	Dec. 31, 2020
Current assets:
Cash and cash equivalents	$ 1,893	$ 1,763
Restricted cash	5	2
Short-term investments	36	702
Accounts receivable:
Trade, net	5,003	3,291
Related parties	248	150
Inventories	4,982	4,344
Prepaid expenses and other current assets	1,819	1,382
Total current assets	13,986	11,634
Operating lease assets	1,789	1,492
Property, plant and equipment	22,575	21,484
Less: Accumulated depreciation	(7,739)	(7,098)
Property, plant and equipment, net	14,836	14,386
Equity investments	4,888	4,729
Goodwill	1,894	1,953
Intangible assets, net	666	751
Other assets	603	458
Total assets	38,662	35,403
Current liabilities:
Current maturities of long-term debt	8	8
Short-term debt	563	663
Accounts payable:
Trade	3,494	2,398
Related parties	678	550
Accrued liabilities	2,665	1,883
Total current liabilities	7,408	5,502
Long-term debt	12,945	15,286
Operating lease liabilities	1,518	1,222
Other liabilities	2,383	2,957
Deferred income taxes	2,478	2,332
Commitments and contingencies
Redeemable non-controlling interests	116	116
Shareholders’ equity:
Ordinary shares, €0.04 par value, 1,275 million shares authorized, 333,627,352 and 334,015,220 shares outstanding, respectively	19	19
Additional paid-in capital	6,029	5,986
Retained earnings	8,216	4,440
Accumulated other comprehensive loss	(1,883)	(1,943)
Treasury stock, at cost, 6,518,226 and 6,030,408 ordinary shares, respectively	(581)	(531)
Total Company share of shareholders’ equity	11,800	7,971
Non-controlling interests	14	17
Total equity	11,814	7,988
Total liabilities, redeemable non-controlling interests and equity	$ 38,662	$ 35,403

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parentheticals) - € / shares	Sep. 30, 2021	Dec. 31, 2020
Shareholders’ 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)	333,627,352	334,015,220
Treasury stock, shares (in shares)	6,518,226	6,030,408

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020
Cash flows from operating activities:
Net income	$ 4,891	$ 572
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	1,016	1,056
Impairment of long-lived assets	0	582
Amortization of debt-related costs	21	12
Share-based compensation	50	43
Inventory valuation charges	0	163
Equity investments -
Equity income	(389)	(123)
Distributions of earnings, net of tax	169	104
Deferred income tax provision (benefit)	7	(135)
Changes in assets and liabilities that provided (used) cash:
Accounts receivable	(1,915)	152
Inventories	(741)	452
Accounts payable	1,139	(90)
Other, net	368	(127)
Net cash provided by operating activities	4,616	2,661
Cash flows from investing activities:
Expenditures for property, plant and equipment	(1,285)	(1,673)
Purchases of available-for-sale debt securities	0	(270)
Proceeds from sales and maturities of available-for-sale debt securities	346	90
Purchases of equity securities	0	(267)
Proceeds from equity securities	309	313
Acquisition of equity method investment	(104)	(472)
Proceeds from settlement of net investment hedges	358	0
Payments for settlement of net investment hedges	(355)	0
Other, net	(66)	(28)
Net cash used in investing activities	(797)	(2,307)
Cash flows from financing activities:
Repurchases of Company ordinary shares	(78)	(4)
Dividends paid - common stock	(1,110)	(1,053)
Purchase of non-controlling interest	0	(30)
Issuance of long-term debt	0	2,492
Payments of debt issuance costs	0	(18)
Repayments of long-term debt	(2,275)	(500)
Debt extinguishment costs	(57)	0
Issuance of short-term debt	0	521
Repayments of short-term debt	0	(504)
Net (repayments of) proceeds from commercial paper	(103)	194
Collateral paid for interest rate derivatives	0	(238)
Proceeds from settlement of cash flow hedges	0	346
Other, net	(4)	(14)
Net cash (used in) provided by financing activities	(3,627)	1,192
Effect of exchange rate changes on cash	(59)	50
Increase in cash and cash equivalents and restricted cash	133	1,596
Cash and cash equivalents and restricted cash at beginning of period	1,765	888
Cash and cash equivalents and restricted cash at end of period	$ 1,898	$ 2,484

Consolidated Statements of Shar

Consolidated Statements of Shareholders' Equity - USD ($) $ in Millions	Total	Ordinary Shares	Treasury Stock	Additional Paid-in Capital	Retained Earnings	Accumulated Other Comprehensive Loss	Company Share of Shareholders' Equity	Non-Controlling Interests
Beginning balance at Dec. 31, 2019		$ 19	$ (580)	$ 5,954	$ 4,435	$ (1,784)	$ 8,044	$ 19
Net income	$ 572	0	0	0	572	0	572	0
Other comprehensive income (loss)	(304)	0	0	0	0	(304)	(304)	0
Share-based compensation		0	44	14	(9)	0	49	0
Dividends - common stock		0	0	0	(1,053)	0	(1,053)	0
Dividends - redeemable non-controlling interests	(5)	0	0	0	(5)	0	(5)	0
Repurchases of Company ordinary shares		0	(4)	0	0	0	(4)	0
Purchase of non-controlling interest		0	0	7	0	0	7	0
Distributions to non-controlling interests		0	0	0	0	0	0	(2)
Ending balance at Sep. 30, 2020		19	(540)	5,975	3,940	(2,088)	7,306	17
Beginning balance at Jun. 30, 2020		19	(548)	5,958	4,188	(2,259)	7,358	19
Net income	114	0	0	0	114	0	114	0
Other comprehensive income (loss)	171	0	0	0	0	171	171	0
Share-based compensation		0	8	17	(8)	0	17	0
Dividends - common stock		0	0	0	(352)	0	(352)	0
Dividends - redeemable non-controlling interests	(2)	0	0	0	(2)	0	(2)	0
Distributions to non-controlling interests		0	0	0	0	0	0	(2)
Ending balance at Sep. 30, 2020		19	(540)	5,975	3,940	(2,088)	7,306	17
Beginning balance at Dec. 31, 2020	7,988	19	(531)	5,986	4,440	(1,943)	7,971	17
Net income	4,891	0	0	0	4,891	0	4,891	0
Other comprehensive income (loss)	60	0	0	0	0	60	60	0
Share-based compensation		0	39	43	0	0	82	0
Dividends - common stock	(1,110)	0	0	0	(1,110)	0	(1,110)	0
Dividends - redeemable non-controlling interests	(5)	0	0	0	(5)	0	(5)	0
Repurchases of Company ordinary shares		0	(89)	0	0	0	(89)	0
Sales of non-controlling interest		0	0	0	0	0	0	(3)
Ending balance at Sep. 30, 2021	11,814	19	(581)	6,029	8,216	(1,883)	11,800	14
Beginning balance at Jun. 30, 2021		19	(494)	6,011	6,837	(1,849)	10,524	14
Net income	1,762	0	0	0	1,762	0	1,762	0
Other comprehensive income (loss)	(34)	0	0	0	0	(34)	(34)	0
Share-based compensation		0	2	18	(1)	0	19	0
Dividends - common stock		0	0	0	(380)	0	(380)	0
Dividends - redeemable non-controlling interests	(2)	0	0	0	(2)	0	(2)	0
Repurchases of Company ordinary shares		0	(89)	0	0	0	(89)	0
Ending balance at Sep. 30, 2021	$ 11,814	$ 19	$ (581)	$ 6,029	$ 8,216	$ (1,883)	$ 11,800	$ 14

Consolidated Statements of Sh_2

Consolidated Statements of Shareholders' Equity (Parentheticals) - $ / shares	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Statement of Stockholders' Equity [Abstract]
Common stock, dividends per share (in dollars per share)	$ 1.13	$ 1.05	$ 3.31	$ 3.15
Redeemable non-controlling interests, dividends per share (in dollars per share)	$ 15	$ 15	$ 45	$ 45

Basis of Presentation

Basis of Presentation	9 Months Ended
	Sep. 30, 2021
Disclosure Text Block [Abstract]
Basis of Presentation [Text Block]	1. Basis of Presentation LyondellBasell Industries N.V. is a limited liability company (Naamloze Vennootschap) incorporated under Dutch law by deed of incorporation dated October 15, 2009. Unless otherwise indicated, the “Company,” “we,” “us,” “our” or similar words are used to refer to LyondellBasell Industries N.V. together with its consolidated subsidiaries (“LyondellBasell N.V.”). 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 the production of polymers. The accompanying unaudited Consolidated Financial Statements have been prepared from the books and records of LyondellBasell N.V. in accordance with the instructions to Form 10-Q and Rule 10-01 of Regulation S-X for interim financial information. Certain notes and other information have been condensed or omitted from the interim financial statements included in this report. 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. 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, 2020. In the opinion of management, all adjustments, including normal recurring adjustments, considered necessary for a fair statement have been included. These statements contain some amounts that are based upon management estimates and judgments. Future actual results could differ from such current estimates. The results for interim periods are not necessarily indicative of results for the entire year.

Accounting and Reporting Change

Accounting and Reporting Changes	9 Months Ended
	Sep. 30, 2021
Accounting Changes and Error Corrections [Abstract]
Accounting and Reporting Changes [Text Block]	2. Accounting and Reporting Changes Recently Adopted Guidance The following table provides a brief description of recently adopted Accounting Standard Updates (“ASU”) issued by the Financial Accounting Standards Board (“FASB”): Standard Description ASU 2020-01, Clarifying the Interactions between Topic 321, Topic 323, Equity Method and Joint Ventures, and Topic 815, Derivatives and Hedging This guidance clarifies that an entity should consider observable transactions that require it to either apply or discontinue the equity method of accounting for the purposes of applying the measurement alternative in accordance with Topic 321. The standard also includes scope considerations for entities that hold certain non-derivative forward contracts and purchased options to acquire equity securities that, upon settlement of the forward contract or exercise of the purchase option, would be accounted for under the equity method of accounting. This guidance is effective for fiscal years beginning after December 15, 2020, and interim periods within those fiscal years. The prospective adoption of this guidance from January 1, 2021 did not have a material impact on our Consolidated Financial Statements. ASU 2020-06, Debt - Debt with Conversion and Other Options and Derivatives and Hedging - Contracts in Entity’s Own Equity This guidance simplifies the accounting for convertible instruments and the application of the derivatives scope exception for contracts in an entity’s own equity. The standard also amends the accounting for convertible instruments in the diluted earnings per share calculation and requires enhanced disclosures of convertible instruments and contracts in an entity’s own equity. The guidance is effective for fiscal years beginning after December 15, 2021 and may be applied on a modified or fully retrospective basis. The early adoption of this guidance on a modified retrospective basis from January 1, 2021 did not have a material impact on our Consolidated Financial Statements. Standard Description ASU 2020-09, Debt (Topic 470): Amendments to SEC Paragraphs Pursuant to SEC Release No. 33-10762 This guidance amends and supersedes SEC paragraphs in the Accounting Standards Codification to reflect the issuance of SEC Release No. 33-10762 related to financial disclosure requirements for subsidiary issuers and guarantors of registered debt securities and affiliates whose securities are pledged as collateral for registered securities. The guidance is effective for annual and interim periods ending after January 4, 2021. The adoption of this guidance from January 1, 2021 did not have a material impact on our Consolidated Financial Statements. Accounting Guidance Issued But Not Adopted as of September 30, 2021 There are no ASUs issued and not yet adopted that are expected to have a material impact on our Consolidated Financial Statements.

Revenues

Revenues	9 Months Ended
	Sep. 30, 2021
Revenue from Contract with Customer [Abstract]
Revenues [Text Block]	3. Revenues Contract Balances— Contract liabilities were $250 million and $194 million at September 30, 2021 and December 31, 2020, respectively. Revenue recognized in each reporting period, included in the contract liability balance at the beginning of the period, was immaterial. Disaggregation of Revenues— The following table presents our revenues disaggregated by key products: Three Months Ended Nine Months Ended Millions of dollars 2021 2020 2021 2020 Sales and other operating revenues: Olefins and co-products $ 1,453 $ 568 $ 3,729 $ 1,695 Polyethylene 2,705 1,423 7,469 4,159 Polypropylene 2,162 1,103 5,876 3,173 Propylene oxide and derivatives 832 421 2,059 1,217 Oxyfuels and related products 1,088 573 2,533 1,669 Intermediate chemicals 910 486 2,436 1,434 Compounding and solutions 1,019 834 3,134 2,295 Advanced polymers 261 169 748 501 Refined products 2,050 1,003 4,784 3,193 Other 220 196 575 480 Total $ 12,700 $ 6,776 $ 33,343 $ 19,816 The following table presents our revenues disaggregated by geography, based upon the location of the customer: Three Months Ended Nine Months Ended Millions of dollars 2021 2020 2021 2020 Sales and other operating revenues: United States $ 6,387 $ 2,983 $ 16,089 $ 8,587 Germany 886 494 2,585 1,533 China 572 369 1,693 914 Italy 489 290 1,339 884 Mexico 496 285 1,133 868 France 384 213 1,040 644 The Netherlands 423 197 1,039 562 Japan 432 161 993 639 Poland 300 205 841 617 Other 2,331 1,579 6,591 4,568 Total $ 12,700 $ 6,776 $ 33,343 $ 19,816

Accounts Receivable

Accounts Receivable	9 Months Ended
	Sep. 30, 2021
Receivables [Abstract]
Accounts Receivable [Text Block]	4. Accounts Receivable Our accounts receivable are reflected in the Consolidated Balance Sheets, net of allowance for credit losses, of $7 million and $15 million at September 30, 2021 and December 31, 2020, respectively.

Inventories

Inventories	9 Months Ended
	Sep. 30, 2021
Inventory Disclosure [Abstract]
Inventories [Text Block]	5. Inventories Inventories consisted of the following components: Millions of dollars September 30, 2021 December 31, 2020 Finished goods $ 3,329 $ 2,816 Work-in-process 167 144 Raw materials and supplies 1,486 1,384 Total inventories $ 4,982 $ 4,344 Our inventories are stated at the lower of cost or market (“LCM”). Cost is determined using the last-in, first-out (“LIFO”) inventory valuation methodology, which means that the most recently incurred costs are charged to cost of sales and inventories are valued at the earliest acquisition costs. Market is determined based on an assessment of the current estimated replacement cost and selling price of the inventory. In periods where the market price of our inventory declines substantially, cost values of inventory may be higher than the market value, and as a result we adjust the value of inventory to market value. Fluctuations in the prices of crude oil, natural gas and correlated products from period to period may result in the recognition of charges to adjust the value of inventory to the LCM in periods of falling prices and the reversal of those charges in subsequent interim periods, within the fiscal year, as market prices recover. During the first nine months of 2020, we recognized an LCM inventory valuation charge of $163 million related to the decline in pricing for many of our raw material and finished goods inventories since December 31, 2019. During the third quarter of 2020, we recognized an LCM inventory valuation benefit of $160 million, largely driven by the recovery of market pricing for many of our raw material and finished goods inventories during the quarter.

Debt

Debt	9 Months Ended
	Sep. 30, 2021
Debt Disclosure [Abstract]
Debt [Text Block]	6. Debt Long-term loans, notes and other debt, net of unamortized discount and debt issuance cost, consisted of the following: Millions of dollars September 30, 2021 December 31, 2020 Senior Notes due 2024, $1,000 million, 5.75% ($3 million of debt issuance cost) $ 997 $ 996 Senior Notes due 2055, $1,000 million, 4.625% ($15 million of discount; $11 million of debt issuance cost) 974 974 Term Loan due 2022, $4,000 million — 1,448 Guaranteed Notes due 2023, $750 million, 4.0% ($1 million of discount; $1 million of debt issuance cost) 423 745 Guaranteed Floating Rate Notes due 2023, $650 million ($3 million of debt issuance cost) 647 646 Guaranteed Notes due 2025, $500 million, 2.875% — 496 Guaranteed Notes due 2025, $500 million, 1.25% ($1 million of discount; $3 million of debt issuance cost) 495 495 Guaranteed Notes due 2026, €500 million, 0.875% ($1 million of discount; $3 million of debt issuance cost) 575 608 Guaranteed Notes due 2027, $1,000 million, 3.5% ($6 million of discount; $5 million of debt issuance cost) 1,079 1,090 Guaranteed Notes due 2027, $300 million, 8.1% 300 300 Guaranteed Notes due 2030, $500 million, 3.375% ($1 million of discount; $3 million of debt issuance cost) 499 495 Guaranteed Notes due 2030, $500 million, 2.25% ($4 million of discount; $4 million of debt issuance cost) 491 492 Guaranteed Notes due 2031, €500 million, 1.625% ($6 million of discount; $3 million of debt issuance cost) 570 602 Guaranteed Notes due 2040, $750 million, 3.375% ($2 million of discount; $8 million of debt issuance cost) 740 740 Guaranteed Notes due 2043, $750 million, 5.25% ($19 million of discount; $7 million of debt issuance cost) 724 723 Guaranteed Notes due 2044, $1,000 million, 4.875% ($10 million of discount; $9 million of debt issuance cost) 981 981 Guaranteed Notes due 2049, $1,000 million, 4.2% ($15 million of discount; $10 million of debt issuance cost) 975 975 Guaranteed Notes due 2050, $1,000 million, 4.2% ($6 million of discount; $10 million of debt issuance cost) 983 984 Guaranteed Notes due 2051, $1,000 million, 3.625% ($3 million of discount; $11 million of debt issuance cost) 986 986 Guaranteed Notes due 2060, $500 million, 3.8% ($4 million of discount; $6 million of debt issuance cost) 490 490 Other 24 28 Total 12,953 15,294 Less current maturities (8) (8) Long-term debt $ 12,945 $ 15,286 Fair 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: Gains (Losses) Cumulative Fair Value Three Months Ended Nine Months Ended September 30, December 31, Millions of dollars 2021 2020 2021 2020 2021 2020 Senior Notes due 2021, 6.0% $ — $ 3 $ — $ (11) $ — $ — Guaranteed Notes due 2022, 1.875% — — — 1 — — Guaranteed Notes due 2025, 1.25% 1 — 1 — 1 — Guaranteed Notes due 2026, 0.875% 1 (1) 2 (2) — (2) Guaranteed Notes due 2027, 3.5% 5 4 12 (69) (90) (102) Guaranteed Notes due 2030, 3.375% 1 — (3) — (3) — Guaranteed Notes due 2030, 2.25% 1 — 1 — 1 — Guaranteed Notes due 2050, 4.2% 1 — 1 — 1 — Total $ 10 $ 6 $ 14 $ (81) $ (90) $ (104) Fair value adjustments are recognized in Interest expense in the Consolidated Statements of Income. Short-term loans, notes and other debt consisted of the following: Millions of dollars September 30, 2021 December 31, 2020 U.S. Receivables Facility $ — $ — Commercial paper 397 500 Precious metal financings 159 140 Other 7 23 Total Short-term debt $ 563 $ 663 Long-Term Debt Senior Revolving Credit Facility —Our $2,500 million Senior Revolving Credit Facility, of which $2,440 million expires in June 2023 and the remainder expires in June 2022, may be used for dollar and euro denominated borrowings. The facility has a $500 million sub-limit for dollar and euro denominated letters of credit, a $1,000 million uncommitted accordion feature, and supports our commercial paper program. Borrowings under the facility bear interest at either a base rate or LIBOR rate, plus an applicable margin. Additional fees are incurred for the average daily unused commitments. At September 30, 2021, we had no borrowings or letters of credit outstanding and $2,104 million of unused availability under this facility. Term Loan due 2022 —In March 2019, LYB Americas Finance Company LLC, a wholly owned subsidiary of LyondellBasell Industries N.V., entered into a $4,000 million senior unsecured delayed draw term loan credit facility that matures in March 2022. Borrowings under the credit agreement were available through December 31, 2019, subsequent to which no further borrowings may be made under the agreement. Outstanding borrowings bear interest at either a base rate or LIBOR rate, as defined, plus in each case, an applicable margin determined by reference to LyondellBasell N.V.’s current credit ratings. During the nine months ended September 30, 2021, we repaid $1,450 million outstanding under our Term Loan due 2022. Guaranteed Notes due 2023 —In July 2013, LYB International Finance B.V. issued $750 million of 4% guaranteed notes due 2023 at a discounted price of 98.678%. In June 2021, we redeemed $325 million of the outstanding notes. In conjunction with the partial redemption, we recognized $25 million of debt extinguishment costs which are reflected in Interest expense in the Consolidated Statements of Income. The debt extinguishment costs include $23 million paid for make-whole premiums, fees and expenses related to the redemption of the notes and non-cash charges of $2 million for the write-off of unamortized debt discount and issuance costs. Guaranteed Notes due 2025 —In April 2020, LYB International Finance III, LLC (“LYB Finance III”) issued $500 million of 2.875% guaranteed notes due 2025 at a discounted price of 99.911%. In September 2021, we redeemed the $500 million outstanding notes. In conjunction with the redemption, we recognized $37 million of debt extinguishment costs which are reflected in Interest expense in the Consolidated Statements of Income. The debt extinguishment costs include $34 million paid for make-whole premiums, fees and expenses related to the redemption of the notes and non-cash charges of $3 million for the write-off of unamortized debt issuance costs. Guaranteed Floating Rate Notes due 2023 —In October 2020, LYB Finance III issued $650 million of guaranteed floating rate notes due 2023. In October 2021, we redeemed the $650 million outstanding notes. In conjunction with the redemption, we recognized $3 million of debt extinguishment costs related to the non-cash write-off of unamortized debt issuance costs. Short-Term Debt U.S. Receivables Facility —Our U.S. Receivables Facility has a purchase limit of $900 million in addition to a $300 million uncommitted accordion feature. In June 2021, we extended the term of the facility to June 2024 in accordance with the terms of the agreement. 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. We pay variable interest rates on our secured borrowings. Additional fees are incurred for the average daily unused commitments. This facility also provides for the issuance of letters of credit up to $200 million. At September 30, 2021, we had no borrowings or letters of credit outstanding and $900 million unused availability under this facility. 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”). Interest rates on the commercial paper outstanding at September 30, 2021 are based on the terms of the notes and range from 0.13% to 0.17%. At September 30, 2021, we had $397 million of outstanding commercial paper. Weighted Average Interest Rate —At September 30, 2021 and December 31, 2020, our weighted average interest rates on outstanding Short-term debt were 0.7% and 0.9%, respectively. Additional Information Debt Discount and Issuance Costs —Amortization of debt discounts and debt issuance costs resulted in amortization expense of $21 million and $12 million for the nine months ended September 30, 2021 and 2020, respectively, which is included in Interest expense in the Consolidated Statements of Income. As of September 30, 2021, we are in compliance with our debt covenants.

Financial Instruments and Fair

Financial Instruments and Fair Value Measurements	9 Months Ended
	Sep. 30, 2021
Derivative Instruments and Hedging Activities Disclosure [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, interest rates and currency exchange rates. To manage the volatility related to these exposures, we selectively enter into derivative contracts 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 13 to our Consolidated Financial Statements included in our Annual Report on Form 10-K for the year ended December 31, 2020. If applicable, updates have been included in the respective sections below. Cash and Cash Equivalents —At September 30, 2021 and December 31, 2020, we had marketable securities classified as Cash and cash equivalents of $707 million and $682 million, respectively. Foreign Currency Gain (Loss) —Other income (expense), net, in the Consolidated Statements of Income includes foreign currency gains of $4 million and $2 million for the three and nine months ended September 30, 2021, respectively, and gains of $3 million and losses of $4 million for the three and nine months ended September 30, 2020, respectively. Financial Instruments Measured at Fair Value on a Recurring Basis —The following table summarizes financial instruments outstanding for the periods presented that are measured at fair value on a recurring basis: September 30, 2021 December 31, 2020 Millions of dollars Notional Amount Fair Value Notional Amount Fair Value Balance Sheet Assets– Derivatives designated as hedges: Commodities $ 35 $ 47 $ 19 $ 3 Prepaid expenses and other current assets Commodities 10 7 41 4 Other Assets Foreign currency 614 82 — 26 Prepaid expenses and other current assets Foreign currency 1,024 25 — — Other assets Interest rates — 5 — — Prepaid expenses and other current assets Interest rates 416 3 122 2 Other assets Derivatives not designated as hedges: Commodities 288 38 71 2 Prepaid expenses and other current assets Commodities 1 1 — — Other assets Foreign currency 150 2 149 — Prepaid expenses and other current assets Non-derivatives: Available-for-sale debt securities — — 348 349 Short-term investments Equity securities 36 35 353 353 Short-term investments Total $ 2,574 $ 245 $ 1,103 $ 739 September 30, 2021 December 31, 2020 Millions of dollars Notional Amount Fair Value Notional Amount Fair Value Balance Sheet Liabilities– Derivatives designated as hedges: Commodities $ — $ — $ — $ 2 Accrued liabilities Foreign currency 855 101 1,213 146 Accrued liabilities Foreign currency 2,270 144 2,682 302 Other liabilities Interest rates — 1 — — Accrued liabilities Interest rates 1,600 228 1,000 343 Other liabilities Derivatives not designated as hedges: Commodities 3 — 113 14 Accrued liabilities Foreign currency 842 16 76 1 Accrued liabilities Total $ 5,570 $ 490 $ 5,084 $ 808 As of September 30, 2021, our limited partnership investments included in our equity securities discussed below are measured at fair value using the net asset value per share, or its equivalent, practical expedient and have not been classified in the fair value hierarchy. All other financial instruments in the table above, including equity securities as of December 31, 2020, are classified as Level 2. We present the gross assets and liabilities of our derivative financial instruments on the Consolidated Balance Sheets. At September 30, 2021, our outstanding foreign currency contracts, not designated as hedges, mature from October 2021 to March 2022. Our commodity contracts, not designated as hedges, mature from October 2021 to December 2021. 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 for the periods presented. Due to the short maturity, the fair value of all non-derivative financial instruments included in Current assets and Current liabilities for which the carrying value approximates fair value are excluded from the table below. Short-term and long-term debt are recorded at amortized cost in the Consolidated Balance Sheets. The carrying and fair values of short-term and of long-term debt exclude commercial paper and other miscellaneous debt. All financial instruments in the table below are classified as Level 2. September 30, 2021 December 31, 2020 Millions of dollars Carrying Fair Carrying Fair Non-derivatives: Liabilities: Short-term debt $ 159 $ 129 $ 140 $ 154 Long-term debt 12,929 14,493 15,266 17,290 Total $ 13,088 $ 14,622 $ 15,406 $ 17,444 Net Investment Hedges— The following table summarizes our net investment hedges outstanding for the periods presented: September 30, 2021 December 31, 2020 Millions of euro/dollars Notional Value Notional Value Expiration Date Equivalent Equivalent Foreign currency € 2,367 $ 2,758 € 1,667 $ 1,890 2022 to 2030 In the first nine months of 2021, we entered into four foreign currency contracts with an aggregate notional value of €1,000 million that were designated as net investment hedges. In July 2021, foreign currency contracts with an aggregate notional value of €300 million expired. Upon settlement of these foreign currency contracts, we paid €300 million ($355 million at the expiry spot rate) to our counterparties and received $358 million from our counterparties. Cash Flow Hedges— The following table summarizes our cash flow hedges outstanding for the periods presented: September 30, 2021 December 31, 2020 Millions of dollars Notional Value Notional Value Expiration Date Foreign currency $ 2,005 $ 2,005 2021 to 2027 Interest rates 1,000 1,000 2023 to 2024 Commodities 45 60 2021 to 2022 As of September 30, 2021 and December 31, 2020, Other assets include $238 million of collateral held with our counterparties related to our forward-starting interest rate swaps; this amount represents the maximum amount of collateral required in accordance with the swap agreements. Related cash flows are included in financing activities in the Consolidated Statements of Cash Flows. As of September 30, 2021, on a pre-tax basis, $6 million is scheduled to be reclassified from Accumulated other comprehensive loss as an increase to Interest expense over the next twelve months. Fair Value Hedges— The following table summarizes our fair value hedges outstanding for the periods presented: September 30, 2021 December 31, 2020 Millions of dollars Notional Value Notional Value Expiration Date Interest rates $ 1,016 $ 122 2025 to 2030 In the first nine months of 2021, we entered into fixed-for-floating interest rate swaps to mitigate the change in the fair value associated with the risk of variability in the 3-month LIBOR rate component of $150 million of our $500 million, 3.375% guaranteed notes due 2030, $300 million of our $1,000 million, 3.5% guaranteed notes due 2027, $150 million of our $500 million, 2.875% guaranteed notes due 2025, $150 million of our $500 million, 1.25% guaranteed notes due 2025 and $150 million of our $500 million, 2.25% guaranteed notes due 2030. The fixed-rate and variable-rate components for these trades are settled semi-annually and quarterly, respectively. In September 2021, upon the redemption of our $500 million, 2.875% guaranteed notes due 2025, the $150 million fixed-for-floating interest rate swap entered in April 2021 was dedesignated and concurrently redesignated as a partial-term hedge to mitigate the change in the fair value associated with the risk of variability in the 3-month LIBOR rate component of $150 million of our $1,000 million, 4.2% guaranteed notes due 2050. Impact on Earnings and Other Comprehensive Income —The following tables summarize the pre-tax effect of derivative and non-derivative instruments recorded in Accumulated other comprehensive loss (“AOCI”), the gains (losses) reclassified from AOCI to earnings and additional gains (losses) recognized directly in earnings: Effects of Financial Instruments Three Months Ended September 30, Gain (Loss) Recognized in AOCI Gain (Loss) Reclassified from AOCI to Income Gain (Loss) Recognized in Income Income Statement Millions of dollars 2021 2020 2021 2020 2021 2020 Classification Derivatives designated as hedges: Commodities $ 38 $ 8 $ (14) $ — $ — $ — Cost of sales Foreign currency 135 (125) (60) 89 9 8 Interest expense Interest rates 17 102 1 1 (5) 1 Interest expense Derivatives not designated as hedges: Commodities — — — — 6 (1) Sales and other operating revenues Commodities — — — — 49 42 Cost of sales Foreign currency — — — — (32) (1) Other income (expense), net Non-derivatives designated as hedges: Long-term debt — (38) — — — — Other income (expense), net Total $ 190 $ (53) $ (73) $ 90 $ 27 $ 49 Effects of Financial Instruments Nine Months Ended September 30, Gain (Loss) Recognized in AOCI Gain (Loss) Reclassified from AOCI to Income Gain (Loss) Recognized in Income Income Statement Millions of dollars 2021 2020 2021 2020 2021 2020 Classification Derivatives designated as hedges: Commodities $ 67 $ 6 $ (18) $ — $ — $ — Cost of sales Foreign currency 274 (47) (128) 81 34 38 Interest expense Interest rates 117 (430) 4 3 — 91 Interest expense Derivatives not designated as hedges: Commodities — — — — 18 4 Sales and other operating revenues Commodities — — — — 72 116 Cost of sales Foreign currency — — — — (61) (11) Other income (expense), net Non-derivatives designated as hedges: Long-term debt — (36) — — — — Other income (expense), net Total $ 458 $ (507) $ (142) $ 84 $ 63 $ 238 The derivative amounts excluded from the assessment of effectiveness for foreign currency contracts designated as net investment hedges recognized in other comprehensive income for the three and nine months ended September 30, 2021 were gains of $1 million and $5 million, respectively, and for the three and nine months ended September 30, 2020 were gains of $1 million and losses of less than $1 million, respectively. The derivative amounts excluded from the assessment of effectiveness for foreign currency contracts designated as net investment hedges recognized in Interest expense for the three and nine months ended September 30, 2021 were gains of $1 million and $6 million, respectively, and for the three and nine months ended September 30, 2020 were gains of $1 million and $8 million, respectively. The pre-tax effect of the periodic receipt of fixed interest and payment of variable interest associated with our fixed-for-floating interest rate swaps resulted in $2 million and $3 million decrease in Interest expense during each of the three and nine months ended September 30, 2021, respectively, and less than $1 million and $3 million decrease in interest expense during the three and nine months ended September 30, 2020, respectively. Investments in Available-for-Sale Debt Securities —The following table summarizes the amortized cost, gross unrealized gains and losses, and fair value of our outstanding available-for-sale debt securities: Millions of dollars Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Debt securities at September 30, 2021 $ — $ — $ — $ — Debt securities at December 31, 2020 348 1 — 349 No allowance for credit losses related to our available-for-sale debt securities were recorded for the three and nine months ended September 30, 2021 and for the year ended December 31, 2020. The proceeds from maturities and sales of our available-for-sale debt securities during the three and nine months ended September 30, 2021 and 2020 are summarized in the following table: Three Months Ended Nine Months Ended Millions of dollars 2021 2020 2021 2020 Proceeds from maturities of available-for-sale debt securities $ 55 $ — $ 346 $ — Proceeds from sales of available-for-sale debt securities — 90 — 90 We had no available-for-sale debt securities which were in a continuous unrealized loss position for less than or greater than twelve months as of September 30, 2021 and December 31, 2020. Investments in Equity Securities —Our investment in equity securities consists of an investment in a limited partnership with a notional amount of $36 million and $353 million as of September 30, 2021 and December 31, 2020, respectively. The carrying amount approximates fair value. The investment is carried at its net asset value as a practical expedient at September 30, 2021 and fair value at December 31, 2020. The investment is under an orderly voluntary liquidation by the fund administrator and we expect the investment to be fully liquidated by early 2022, during which time redemption or sale of the investment is restricted. We received proceeds of $45 million and $309 million related to our investments in equity securities during the three and nine months ended September 30, 2021, respectively, and $312 million and $313 million during the three and nine months ended September 30, 2020, respectively. We recognized unrealized losses of less than $1 million on our equity securities that were outstanding during the three and nine months ended September 30, 2021, and no unrealized gains or losses were recognized during the three and nine months ended September 30, 2020.

Income Taxes

Income Taxes	9 Months Ended
	Sep. 30, 2021
Income Tax Disclosure [Abstract]
Income Taxes [Text Block]	8. Income Taxes For interim tax reporting, we estimate an annual effective tax rate which is applied to the year-to-date ordinary income (loss). Tax effects of significant unusual or infrequently occurring items are excluded from the estimated annual effective tax rate calculation and recognized in the interim period in which they occur. Our effective income tax rate fluctuates based on, among other factors, changes in pretax income in countries with varying statutory tax rates, changes in valuation allowances, changes in foreign exchange gains or losses, the amount of exempt income, changes in unrecognized tax benefits associated with uncertain tax positions and changes in tax laws. Our exempt income primarily includes interest income, export incentives, and equity earnings of joint ventures. Interest income earned by certain of our European subsidiaries through intercompany financings is taxed at rates substantially lower than the U.S. statutory rate. Export incentives relate to tax benefits derived from elections and structures available for U.S. exports. Equity earnings attributable to the earnings of our joint ventures, when paid through dividends to certain European subsidiaries, are exempt from all or portions of normal statutory income tax rates. We currently anticipate the favorable treatment for interest income, dividends, and export incentives to continue in the near term; however, this treatment is based on current law and tax rulings, which could change. Our effective income tax rates for the third quarter and the first nine months of 2021 were 20.4% and 17.4%, respectively, compared to 1,136.4% and -16.7% for the third quarter and first nine months of 2020. Our effective income tax rate decreased in the third quarter of 2021 compared to the third quarter of 2020. The lower effective tax rate for the third quarter of 2021 is primarily attributable to the recognition of a tax benefit of $125 million, primarily from a non-cash impairment in 2020. This tax benefit on our $11 million of pre-tax loss for the third quarter of 2020 resulted in an abnormally high effective tax rate. Our effective income tax rate increased in the first nine months of 2021 compared to the first nine months of 2020. The higher effective tax rate for the first nine months of 2021 is primarily attributable to increased pre-tax earnings relative to our tax rate drivers, primarily exempt income (12.4%), coupled with the tax benefit recognized on a non-cash impairment in 2020 (21.7%). As of September 30, 2021 and December 31, 2020, we had $497 million and $67 million, respectively, of income taxes payable which was included in Accrued liabilities in our Consolidated Balance Sheets.

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Sep. 30, 2021
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies [Text Block]	9. Commitments and Contingencies Commitments —We have various purchase commitments for materials, supplies and services incidental to the ordinary conduct of business, generally for quantities required for our businesses and at prevailing market prices. These commitments are designed to assure sources of supply and are not expected to be in excess of normal requirements. As of September 30, 2021 , we had capital expenditure commitments, which we incurred in our normal course of business , including commitments of approximately $472 million related to building our new PO/TBA plant in Houston, Texas. 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 required 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 $144 million and $133 million as of September 30, 2021 and December 31, 2020, respectively. At September 30, 2021, the accrued liabilities for individual sites range from less than $1 million to $27 million. The remediation expenditures are expected to occur over a number of years, and not 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 additional 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. 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/or 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 provisions pertaining to third-party claims relating to environmental and tax matters and various types of litigation. As of September 30, 2021, 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 under 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 5 to 10 years. Legal Proceedings— We are subject to various lawsuits and claims, including but not limited to, matters involving contract disputes, environmental damages, personal injury and property damage. We vigorously defend ourselves and prosecute these matters as appropriate. Our legal organization applies its knowledge, experience and professional judgment to the specific characteristics of our cases, employing a litigation management process to manage and monitor legal proceedings in which we are a party. Our process facilitates the early evaluation and quantification of potential exposures in individual cases. This process also enables us to track those cases that have been scheduled for trial, mediation or other resolution. We regularly assess the adequacy of legal accruals based on our professional judgment, experience and the information available regarding our cases. Based on a consideration of all relevant facts and circumstances, we do not believe the ultimate outcome of any currently pending lawsuit against us will have a material adverse effect upon our operations, financial condition or Consolidated Financial Statements.

Shareholders' Equity and Redeem

Shareholders' Equity and Redeemable Non-controlling Interests	9 Months Ended
	Sep. 30, 2021
Shareholders Equity and Redeemable Non-controlling Interests Abstract [Abstract]
Shareholders' Equity and Redeemable Non-controlling Interests Disclosure [Text Block]	10. Shareholders’ Equity and Redeemable Non-controlling Interests Shareholders’ Equity Dividend Distributions —The following table summarized the dividends paid in the periods presented: Millions of dollars, except per share amounts Dividend Per Ordinary Share Aggregate Dividends Paid Date of Record March 2021 $ 1.05 $ 352 March 8, 2021 June 2021 1.13 378 June 7, 2021 September 2021 1.13 380 August 30, 2021 $ 3.31 $ 1,110 Share Repurchase Authorization —In May 2021, our shareholders approved a proposal to authorize us to repurchase up to 34.0 million ordinary shares, through November 28, 2022 (“May 2021 Share Repurchase Authorization”), which superseded any prior repurchase authorizations. The timing and amount of these repurchases, which are determined based on our evaluation of market conditions and other factors, 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: Millions of dollars, except shares and per share amounts Shares Average Total Purchase Price, Including For nine months ended September 30, 2021: May 2021 Share Repurchase Authorization 953,681 $ 93.34 $ 89 For nine months ended September 30, 2020: September 2019 Share Repurchase Authorization 50,685 $ 78.93 $ 4 Total cash paid for share repurchases for the nine months ended September 30, 2021 and 2020 were $78 million and $4 million, respectively. Cash payments made during the reporting period may differ from the total purchase price, including commissions and fees, due to the timing of payments. Ordinary Shares —The changes in the outstanding amounts of ordinary shares are as follows: Nine Months Ended 2021 2020 Ordinary shares outstanding: Beginning balance 334,015,220 333,476,883 Share-based compensation 415,857 246,640 Employee stock purchase plan 149,956 245,521 Purchase of ordinary shares (953,681) (50,685) Ending balance 333,627,352 333,918,359 Treasury Shares— The changes in the amounts of treasury shares held by the Company are as follows: Nine Months Ended 2021 2020 Ordinary shares held as treasury shares: Beginning balance 6,030,408 6,568,745 Share-based compensation (415,857) (246,640) Employee stock purchase plan (50,006) (245,521) Purchase of ordinary shares 953,681 50,685 Ending balance 6,518,226 6,127,269 Accumulated Other Comprehensive Loss —The components of, and after-tax changes in, Accumulated other comprehensive loss as of and for the nine months ended September 30, 2021 and 2020 are presented in the following tables: Millions of dollars Financial Unrealized Defined Benefit Foreign Total Balance – December 31, 2020 $ (426) $ 1 $ (752) $ (766) $ (1,943) Other comprehensive income (loss) before reclassifications 311 (1) — (92) 218 Tax expense before reclassifications (69) — — (35) (104) Amounts reclassified from accumulated other comprehensive loss (142) — 66 — (76) Tax (expense) benefit 32 — (10) — 22 Net other comprehensive income (loss) 132 (1) 56 (127) 60 Balance – September 30, 2021 $ (294) $ — $ (696) $ (893) $ (1,883) Millions of dollars Financial Unrealized Defined Benefit Foreign Total Balance – December 31, 2019 $ (200) $ — $ (711) $ (873) $ (1,784) Other comprehensive income (loss) before reclassifications (447) 1 — (53) (499) Tax benefit before reclassifications 93 — — 6 99 Amounts reclassified from accumulated other comprehensive loss 84 — 42 — 126 Tax expense (19) — (11) — (30) Net other comprehensive income (loss) (289) 1 31 (47) (304) Balance – September 30, 2020 $ (489) $ 1 $ (680) $ (920) $ (2,088) The amounts reclassified out of each component of Accumulated other comprehensive loss are as follows: Three Months Ended Nine Months Ended Affected Line Item on Millions of dollars 2021 2020 2021 2020 Reclassification adjustments for: Financial derivatives: Foreign currency $ (60) $ 89 $ (128) $ 81 Interest expense Commodities (14) — (18) — Cost of sales Interest rates 1 1 4 3 Interest expense Income tax (expense) benefit 17 (22) 32 (19) Provision for income taxes Financial derivatives, net of tax (56) 68 (110) 65 Amortization of defined pension items: Prior service cost — 1 2 3 Other income (expense), net Actuarial loss 14 13 40 39 Other income (expense), net Settlement loss 20 — 24 — Other income (expense), net Income tax expense (6) (4) (10) (11) Provision for income taxes Defined pension items, net of tax 28 10 56 31 Total reclassifications, before tax (39) 104 (76) 126 Income tax (expense) benefit 11 (26) 22 (30) Provision for income taxes Total reclassifications, after tax $ (28) $ 78 $ (54) $ 96 Amount included in net income Redeemable Non-controlling Interests Our redeemable non-controlling interests relate to shares of cumulative perpetual special stock (“redeemable non-controlling interest stock”) issued by a consolidated subsidiary. As of September 30, 2021 and December 31, 2020, we had 115,374 shares of redeemable non-controlling interest stock outstanding. In February, May and August 2021, we paid cash dividends of $15.00 per share to our redeemable non-controlling interest shareholders of record as of January 15, 2021, April 15, 2021 and July 15, 2021. These dividends totaled $5 million for each of the nine months ended September 30, 2021 and 2020.

Per Share Data

Per Share Data	9 Months Ended
	Sep. 30, 2021
Earnings Per Share [Abstract]
Per Share Data [Text Block]	11. 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. There was no impact to basic or diluted earnings per share from discontinued operations. Earnings per share data and dividends declared per share of common stock are as follows: Three Months Ended September 30, 2021 2020 Millions of dollars Continuing Discontinued Continuing Discontinued Net income (loss) $ 1,763 $ (1) $ 114 $ — Dividends on redeemable non-controlling interests (2) — (2) — Net income attributable to participating securities (4) — (1) — Net income (loss) attributable to ordinary shareholders – basic and diluted $ 1,757 $ (1) $ 111 $ — Millions of shares, except per share amounts Basic weighted average common stock outstanding 334 334 334 334 Effect of dilutive securities — — — — Potential dilutive shares 334 334 334 334 Earnings per share: Basic $ 5.25 $ — $ 0.33 $ — Diluted $ 5.25 $ — $ 0.33 $ — Nine Months Ended September 30, 2021 2020 Millions of dollars Continuing Discontinued Continuing Discontinued Net income (loss) $ 4,892 $ (1) $ 572 $ — Dividends on redeemable non-controlling interests (5) — (5) — Net income attributable to participating securities (12) — (2) — Net income (loss) attributable to ordinary shareholders – basic and diluted $ 4,875 $ (1) $ 565 $ — Millions of shares, except per share amounts Basic weighted average common stock outstanding 334 334 334 334 Effect of dilutive securities — — — — Potential dilutive shares 334 334 334 334 Earnings per share: Basic $ 14.58 $ — $ 1.69 $ — Diluted $ 14.57 $ — $ 1.69 $ —

Segment and Related Information

Segment and Related Information	3 Months Ended
	Sep. 30, 2020
Segment Reporting [Abstract]
Segment and Related Information [Text Block]	12. Segment and Related Information Our operations are managed by senior executives who report to our Chief Executive Officer, the chief operating decision maker. Discrete financial information is available for each of the segments, and our Chief Executive Officer uses the operating 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. • Intermediates and Derivatives (“I&D”). Our I&D segment produces and markets propylene oxide and its derivatives, oxyfuels and related products, and intermediate chemicals such as styrene monomer, acetyls, ethylene oxide and ethylene glycol. • Advanced Polymer Solutions (“APS”) . Our APS segment produces and markets compounding and solutions, such as polypropylene compounds, engineered plastics, masterbatches, engineered composites, colors and powders, and advanced polymers, which includes Catalloy and polybutene-1. • Refining . Our Refining segment refines heavy, high-sulfur crude oil and other crude oils of varied types and sources available on the U.S. Gulf Coast into refined products, including gasoline and distillates. • 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 profitability of our segments, and therefore, we have presented EBITDA for all segments. We define EBITDA as earnings before interest, income taxes, and depreciation and amortization. “Other” includes intersegment eliminations and items that are not directly related or allocated to business operations, such as foreign exchange gains or losses and components of pension and other postretirement benefit costs other than service costs. Sales between segments are made primarily at prices approximating prevailing market prices. Summarized financial information concerning reportable segments is shown in the following tables for the periods presented: Three Months Ended September 30, 2021 Millions of dollars O&P– O&P– I&D APS Refining Technology Other Total Sales and other operating revenues: Customers $ 3,071 $ 3,262 $ 2,851 $ 1,280 $ 2,050 $ 186 $ — $ 12,700 Intersegment 1,337 196 43 6 238 52 (1,872) — 4,408 3,458 2,894 1,286 2,288 238 (1,872) 12,700 Income from equity investments 29 66 9 — — — — 104 EBITDA 1,568 474 348 121 41 155 (16) 2,691 Capital expenditures 72 54 327 20 17 22 2 514 Three Months Ended September 30, 2020 Millions of dollars O&P– O&P– I&D APS Refining Technology Other Total Sales and other operating revenues: Customers $ 1,268 $ 1,837 $ 1,498 $ 1,003 $ 1,003 $ 167 $ — $ 6,776 Intersegment 572 145 40 1 98 26 (882) — 1,840 1,982 1,538 1,004 1,101 193 (882) 6,776 Income from equity investments 15 40 7 — — — — 62 LCM inventory valuation benefit (70) (17) (22) (40) (11) — — (160) EBITDA 474 148 267 157 (692) 111 1 466 Capital expenditures 130 38 103 18 15 24 97 425 Nine Months Ended September 30, 2021 Millions of dollars O&P– O&P– I&D APS Refining Technology Other Total Sales and other operating revenues: Customers $ 7,770 $ 9,342 $ 7,086 $ 3,882 $ 4,784 $ 479 $ — $ 33,343 Intersegment 3,220 618 160 10 575 107 (4,690) — 10,990 9,960 7,246 3,892 5,359 586 (4,690) 33,343 Income from equity investments 94 263 32 — — — — 389 EBITDA 4,011 1,594 1,126 385 (150) 341 (13) 7,294 Capital expenditures 219 141 717 55 62 64 27 1,285 Nine Months Ended September 30, 2020 Millions of dollars O&P– O&P– I&D APS Refining Technology Other Total Sales and other operating revenues: Customers $ 3,514 $ 5,543 $ 4,370 $ 2,796 $ 3,193 $ 400 $ — $ 19,816 Intersegment 1,551 365 95 9 275 92 (2,387) — 5,065 5,908 4,465 2,805 3,468 492 (2,387) 19,816 Income (loss) from equity investments 24 88 12 (1) — — — 123 LCM inventory valuation charge 3 53 76 29 2 — — 163 EBITDA 1,088 522 571 226 (799) 279 (15) 1,872 Capital expenditures 524 114 761 41 52 80 101 1,673 During the third quarter of 2020, we assessed the Houston refinery for impairment and determined that the asset group carrying value exceeded its undiscounted estimated pre-tax cash flows and fair value. As a result, we recognized a non-cash impairment charge in the third quarter of 2020 of $582 million, which includes a $570 million impairment of property, plant and equipment and a $12 million impairment of intangible assets. The fair value measurement for the asset group is a Level 3 within the fair value hierarchy. We are currently weighing strategic options for our Refining segment, including a potential sale of our Houston refinery. While the refinery is a valuable asset, we believe that it may be even more valuable as part of a larger refining system. Any strategic option pursued for the Houston refinery remains subject to the approval of our Board of Directors and, assuming such approval is obtained, may require certain regulatory approvals or other closing conditions. A reconciliation of EBITDA to Income (loss) from continuing operations before income taxes is shown in the following table for each of the periods presented: Three Months Ended Nine Months Ended Millions of dollars 2021 2020 2021 2020 EBITDA: Total segment EBITDA $ 2,707 $ 465 $ 7,307 $ 1,887 Other EBITDA (16) 1 (13) (15) Less: Depreciation and amortization expense (351) (358) (1,016) (1,056) Interest expense (126) (122) (366) (336) Add: Interest income 1 3 8 10 Income (loss) from continuing operations before income taxes $ 2,215 $ (11) $ 5,920 $ 490

Accounting and Reporting Chan_2

Accounting and Reporting Changes (Tables)	9 Months Ended
	Sep. 30, 2021
Accounting Changes and Error Corrections [Abstract]
Schedule of accounting and reporting changes [Table Text Block]	The following table provides a brief description of recently adopted Accounting Standard Updates (“ASU”) issued by the Financial Accounting Standards Board (“FASB”): Standard Description ASU 2020-01, Clarifying the Interactions between Topic 321, Topic 323, Equity Method and Joint Ventures, and Topic 815, Derivatives and Hedging This guidance clarifies that an entity should consider observable transactions that require it to either apply or discontinue the equity method of accounting for the purposes of applying the measurement alternative in accordance with Topic 321. The standard also includes scope considerations for entities that hold certain non-derivative forward contracts and purchased options to acquire equity securities that, upon settlement of the forward contract or exercise of the purchase option, would be accounted for under the equity method of accounting. This guidance is effective for fiscal years beginning after December 15, 2020, and interim periods within those fiscal years. The prospective adoption of this guidance from January 1, 2021 did not have a material impact on our Consolidated Financial Statements. ASU 2020-06, Debt - Debt with Conversion and Other Options and Derivatives and Hedging - Contracts in Entity’s Own Equity This guidance simplifies the accounting for convertible instruments and the application of the derivatives scope exception for contracts in an entity’s own equity. The standard also amends the accounting for convertible instruments in the diluted earnings per share calculation and requires enhanced disclosures of convertible instruments and contracts in an entity’s own equity. The guidance is effective for fiscal years beginning after December 15, 2021 and may be applied on a modified or fully retrospective basis. The early adoption of this guidance on a modified retrospective basis from January 1, 2021 did not have a material impact on our Consolidated Financial Statements. Standard Description ASU 2020-09, Debt (Topic 470): Amendments to SEC Paragraphs Pursuant to SEC Release No. 33-10762 This guidance amends and supersedes SEC paragraphs in the Accounting Standards Codification to reflect the issuance of SEC Release No. 33-10762 related to financial disclosure requirements for subsidiary issuers and guarantors of registered debt securities and affiliates whose securities are pledged as collateral for registered securities. The guidance is effective for annual and interim periods ending after January 4, 2021. The adoption of this guidance from January 1, 2021 did not have a material impact on our Consolidated Financial Statements. Accounting Guidance Issued But Not Adopted as of September 30, 2021 There are no ASUs issued and not yet adopted that are expected to have a material impact on our Consolidated Financial Statements.

Revenues (Tables)

Revenues (Tables)	9 Months Ended
	Sep. 30, 2021
Revenue from Contract with Customer [Abstract]
Disaggregation of revenue [Table Text Block]	Disaggregation of Revenues— The following table presents our revenues disaggregated by key products: Three Months Ended Nine Months Ended Millions of dollars 2021 2020 2021 2020 Sales and other operating revenues: Olefins and co-products $ 1,453 $ 568 $ 3,729 $ 1,695 Polyethylene 2,705 1,423 7,469 4,159 Polypropylene 2,162 1,103 5,876 3,173 Propylene oxide and derivatives 832 421 2,059 1,217 Oxyfuels and related products 1,088 573 2,533 1,669 Intermediate chemicals 910 486 2,436 1,434 Compounding and solutions 1,019 834 3,134 2,295 Advanced polymers 261 169 748 501 Refined products 2,050 1,003 4,784 3,193 Other 220 196 575 480 Total $ 12,700 $ 6,776 $ 33,343 $ 19,816 The following table presents our revenues disaggregated by geography, based upon the location of the customer: Three Months Ended Nine Months Ended Millions of dollars 2021 2020 2021 2020 Sales and other operating revenues: United States $ 6,387 $ 2,983 $ 16,089 $ 8,587 Germany 886 494 2,585 1,533 China 572 369 1,693 914 Italy 489 290 1,339 884 Mexico 496 285 1,133 868 France 384 213 1,040 644 The Netherlands 423 197 1,039 562 Japan 432 161 993 639 Poland 300 205 841 617 Other 2,331 1,579 6,591 4,568 Total $ 12,700 $ 6,776 $ 33,343 $ 19,816

Inventories (Tables)

Inventories (Tables)	9 Months Ended
	Sep. 30, 2021
Inventory Disclosure [Abstract]
Schedule of inventory [Table Text Block]	Inventories consisted of the following components: Millions of dollars September 30, 2021 December 31, 2020 Finished goods $ 3,329 $ 2,816 Work-in-process 167 144 Raw materials and supplies 1,486 1,384 Total inventories $ 4,982 $ 4,344

Debt (Tables)

Debt (Tables)	9 Months Ended
	Sep. 30, 2021
Debt Disclosure [Abstract]
Schedule of long-term debt [Table Text Block]	Long-term loans, notes and other debt, net of unamortized discount and debt issuance cost, consisted of the following: Millions of dollars September 30, 2021 December 31, 2020 Senior Notes due 2024, $1,000 million, 5.75% ($3 million of debt issuance cost) $ 997 $ 996 Senior Notes due 2055, $1,000 million, 4.625% ($15 million of discount; $11 million of debt issuance cost) 974 974 Term Loan due 2022, $4,000 million — 1,448 Guaranteed Notes due 2023, $750 million, 4.0% ($1 million of discount; $1 million of debt issuance cost) 423 745 Guaranteed Floating Rate Notes due 2023, $650 million ($3 million of debt issuance cost) 647 646 Guaranteed Notes due 2025, $500 million, 2.875% — 496 Guaranteed Notes due 2025, $500 million, 1.25% ($1 million of discount; $3 million of debt issuance cost) 495 495 Guaranteed Notes due 2026, €500 million, 0.875% ($1 million of discount; $3 million of debt issuance cost) 575 608 Guaranteed Notes due 2027, $1,000 million, 3.5% ($6 million of discount; $5 million of debt issuance cost) 1,079 1,090 Guaranteed Notes due 2027, $300 million, 8.1% 300 300 Guaranteed Notes due 2030, $500 million, 3.375% ($1 million of discount; $3 million of debt issuance cost) 499 495 Guaranteed Notes due 2030, $500 million, 2.25% ($4 million of discount; $4 million of debt issuance cost) 491 492 Guaranteed Notes due 2031, €500 million, 1.625% ($6 million of discount; $3 million of debt issuance cost) 570 602 Guaranteed Notes due 2040, $750 million, 3.375% ($2 million of discount; $8 million of debt issuance cost) 740 740 Guaranteed Notes due 2043, $750 million, 5.25% ($19 million of discount; $7 million of debt issuance cost) 724 723 Guaranteed Notes due 2044, $1,000 million, 4.875% ($10 million of discount; $9 million of debt issuance cost) 981 981 Guaranteed Notes due 2049, $1,000 million, 4.2% ($15 million of discount; $10 million of debt issuance cost) 975 975 Guaranteed Notes due 2050, $1,000 million, 4.2% ($6 million of discount; $10 million of debt issuance cost) 983 984 Guaranteed Notes due 2051, $1,000 million, 3.625% ($3 million of discount; $11 million of debt issuance cost) 986 986 Guaranteed Notes due 2060, $500 million, 3.8% ($4 million of discount; $6 million of debt issuance cost) 490 490 Other 24 28 Total 12,953 15,294 Less current maturities (8) (8) Long-term debt $ 12,945 $ 15,286 Fair 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: Gains (Losses) Cumulative Fair Value Three Months Ended Nine Months Ended September 30, December 31, Millions of dollars 2021 2020 2021 2020 2021 2020 Senior Notes due 2021, 6.0% $ — $ 3 $ — $ (11) $ — $ — Guaranteed Notes due 2022, 1.875% — — — 1 — — Guaranteed Notes due 2025, 1.25% 1 — 1 — 1 — Guaranteed Notes due 2026, 0.875% 1 (1) 2 (2) — (2) Guaranteed Notes due 2027, 3.5% 5 4 12 (69) (90) (102) Guaranteed Notes due 2030, 3.375% 1 — (3) — (3) — Guaranteed Notes due 2030, 2.25% 1 — 1 — 1 — Guaranteed Notes due 2050, 4.2% 1 — 1 — 1 — Total $ 10 $ 6 $ 14 $ (81) $ (90) $ (104) 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 debt consisted of the following: Millions of dollars September 30, 2021 December 31, 2020 U.S. Receivables Facility $ — $ — Commercial paper 397 500 Precious metal financings 159 140 Other 7 23 Total Short-term debt $ 563 $ 663

Financial Instruments and Fai_2

Financial Instruments and Fair Value Measurements (Tables)	9 Months Ended
	Sep. 30, 2021
Derivative Instruments and Hedging Activities Disclosure [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 for the periods presented that are measured at fair value on a recurring basis: September 30, 2021 December 31, 2020 Millions of dollars Notional Amount Fair Value Notional Amount Fair Value Balance Sheet Assets– Derivatives designated as hedges: Commodities $ 35 $ 47 $ 19 $ 3 Prepaid expenses and other current assets Commodities 10 7 41 4 Other Assets Foreign currency 614 82 — 26 Prepaid expenses and other current assets Foreign currency 1,024 25 — — Other assets Interest rates — 5 — — Prepaid expenses and other current assets Interest rates 416 3 122 2 Other assets Derivatives not designated as hedges: Commodities 288 38 71 2 Prepaid expenses and other current assets Commodities 1 1 — — Other assets Foreign currency 150 2 149 — Prepaid expenses and other current assets Non-derivatives: Available-for-sale debt securities — — 348 349 Short-term investments Equity securities 36 35 353 353 Short-term investments Total $ 2,574 $ 245 $ 1,103 $ 739 September 30, 2021 December 31, 2020 Millions of dollars Notional Amount Fair Value Notional Amount Fair Value Balance Sheet Liabilities– Derivatives designated as hedges: Commodities $ — $ — $ — $ 2 Accrued liabilities Foreign currency 855 101 1,213 146 Accrued liabilities Foreign currency 2,270 144 2,682 302 Other liabilities Interest rates — 1 — — Accrued liabilities Interest rates 1,600 228 1,000 343 Other liabilities Derivatives not designated as hedges: Commodities 3 — 113 14 Accrued liabilities Foreign currency 842 16 76 1 Accrued liabilities Total $ 5,570 $ 490 $ 5,084 $ 808 As of September 30, 2021, our limited partnership investments included in our equity securities discussed below are measured at fair value using the net asset value per share, or its equivalent, practical expedient and have not been classified in the fair value hierarchy. All other financial instruments in the table above, including equity securities as of December 31, 2020, are classified as Level 2. We present the gross assets and liabilities of our derivative financial instruments on the Consolidated Balance Sheets.
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 for the periods presented. Due to the short maturity, the fair value of all non-derivative financial instruments included in Current assets and Current liabilities for which the carrying value approximates fair value are excluded from the table below. Short-term and long-term debt are recorded at amortized cost in the Consolidated Balance Sheets. The carrying and fair values of short-term and of long-term debt exclude commercial paper and other miscellaneous debt. All financial instruments in the table below are classified as Level 2. September 30, 2021 December 31, 2020 Millions of dollars Carrying Fair Carrying Fair Non-derivatives: Liabilities: Short-term debt $ 159 $ 129 $ 140 $ 154 Long-term debt 12,929 14,493 15,266 17,290 Total $ 13,088 $ 14,622 $ 15,406 $ 17,444
Summary of net investment hedges [Table Text Block]	Net Investment Hedges— The following table summarizes our net investment hedges outstanding for the periods presented: September 30, 2021 December 31, 2020 Millions of euro/dollars Notional Value Notional Value Expiration Date Equivalent Equivalent Foreign currency € 2,367 $ 2,758 € 1,667 $ 1,890 2022 to 2030
Summary of cash flow hedges [Table Text Block]	Cash Flow Hedges— The following table summarizes our cash flow hedges outstanding for the periods presented: September 30, 2021 December 31, 2020 Millions of dollars Notional Value Notional Value Expiration Date Foreign currency $ 2,005 $ 2,005 2021 to 2027 Interest rates 1,000 1,000 2023 to 2024 Commodities 45 60 2021 to 2022
Summary of fair value hedges [Table Text Block]	Fair Value Hedges— The following table summarizes our fair value hedges outstanding for the periods presented: September 30, 2021 December 31, 2020 Millions of dollars Notional Value Notional Value Expiration Date Interest rates $ 1,016 $ 122 2025 to 2030
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 tables summarize the pre-tax effect of derivative and non-derivative instruments recorded in Accumulated other comprehensive loss (“AOCI”), the gains (losses) reclassified from AOCI to earnings and additional gains (losses) recognized directly in earnings: Effects of Financial Instruments Three Months Ended September 30, Gain (Loss) Recognized in AOCI Gain (Loss) Reclassified from AOCI to Income Gain (Loss) Recognized in Income Income Statement Millions of dollars 2021 2020 2021 2020 2021 2020 Classification Derivatives designated as hedges: Commodities $ 38 $ 8 $ (14) $ — $ — $ — Cost of sales Foreign currency 135 (125) (60) 89 9 8 Interest expense Interest rates 17 102 1 1 (5) 1 Interest expense Derivatives not designated as hedges: Commodities — — — — 6 (1) Sales and other operating revenues Commodities — — — — 49 42 Cost of sales Foreign currency — — — — (32) (1) Other income (expense), net Non-derivatives designated as hedges: Long-term debt — (38) — — — — Other income (expense), net Total $ 190 $ (53) $ (73) $ 90 $ 27 $ 49 Effects of Financial Instruments Nine Months Ended September 30, Gain (Loss) Recognized in AOCI Gain (Loss) Reclassified from AOCI to Income Gain (Loss) Recognized in Income Income Statement Millions of dollars 2021 2020 2021 2020 2021 2020 Classification Derivatives designated as hedges: Commodities $ 67 $ 6 $ (18) $ — $ — $ — Cost of sales Foreign currency 274 (47) (128) 81 34 38 Interest expense Interest rates 117 (430) 4 3 — 91 Interest expense Derivatives not designated as hedges: Commodities — — — — 18 4 Sales and other operating revenues Commodities — — — — 72 116 Cost of sales Foreign currency — — — — (61) (11) Other income (expense), net Non-derivatives designated as hedges: Long-term debt — (36) — — — — Other income (expense), net Total $ 458 $ (507) $ (142) $ 84 $ 63 $ 238
Schedule of available-for-sale debt securities reconciliation [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 outstanding available-for-sale debt securities: Millions of dollars Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Debt securities at September 30, 2021 $ — $ — $ — $ — Debt securities at December 31, 2020 348 1 — 349
Summary of proceeds from maturities and sales of available-for-sale debt securities [Table Text Block]	The proceeds from maturities and sales of our available-for-sale debt securities during the three and nine months ended September 30, 2021 and 2020 are summarized in the following table: Three Months Ended Nine Months Ended Millions of dollars 2021 2020 2021 2020 Proceeds from maturities of available-for-sale debt securities $ 55 $ — $ 346 $ — Proceeds from sales of available-for-sale debt securities — 90 — 90

Shareholders' Equity and Rede_2

Shareholders' Equity and Redeemable Non-controlling Interests, Shareholders' Equity (Tables)	9 Months Ended
	Sep. 30, 2021
Shareholders Equity and Redeemable Non-controlling Interests Abstract [Abstract]
Dividend distributions [Table Text Block]	Dividend Distributions —The following table summarized the dividends paid in the periods presented: Millions of dollars, except per share amounts Dividend Per Ordinary Share Aggregate Dividends Paid Date of Record March 2021 $ 1.05 $ 352 March 8, 2021 June 2021 1.13 378 June 7, 2021 September 2021 1.13 380 August 30, 2021 $ 3.31 $ 1,110
Schedule of share repurchase authorization [Table Text Block]	The following table summarizes our share repurchase activity for the periods presented: Millions of dollars, except shares and per share amounts Shares Average Total Purchase Price, Including For nine months ended September 30, 2021: May 2021 Share Repurchase Authorization 953,681 $ 93.34 $ 89 For nine months ended September 30, 2020: September 2019 Share Repurchase Authorization 50,685 $ 78.93 $ 4
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: Nine Months Ended 2021 2020 Ordinary shares outstanding: Beginning balance 334,015,220 333,476,883 Share-based compensation 415,857 246,640 Employee stock purchase plan 149,956 245,521 Purchase of ordinary shares (953,681) (50,685) Ending balance 333,627,352 333,918,359 Treasury Shares— The changes in the amounts of treasury shares held by the Company are as follows: Nine Months Ended 2021 2020 Ordinary shares held as treasury shares: Beginning balance 6,030,408 6,568,745 Share-based compensation (415,857) (246,640) Employee stock purchase plan (50,006) (245,521) Purchase of ordinary shares 953,681 50,685 Ending balance 6,518,226 6,127,269
Schedule of accumulated other comprehensive income (loss) [Table Text Block]	Accumulated Other Comprehensive Loss —The components of, and after-tax changes in, Accumulated other comprehensive loss as of and for the nine months ended September 30, 2021 and 2020 are presented in the following tables: Millions of dollars Financial Unrealized Defined Benefit Foreign Total Balance – December 31, 2020 $ (426) $ 1 $ (752) $ (766) $ (1,943) Other comprehensive income (loss) before reclassifications 311 (1) — (92) 218 Tax expense before reclassifications (69) — — (35) (104) Amounts reclassified from accumulated other comprehensive loss (142) — 66 — (76) Tax (expense) benefit 32 — (10) — 22 Net other comprehensive income (loss) 132 (1) 56 (127) 60 Balance – September 30, 2021 $ (294) $ — $ (696) $ (893) $ (1,883) Millions of dollars Financial Unrealized Defined Benefit Foreign Total Balance – December 31, 2019 $ (200) $ — $ (711) $ (873) $ (1,784) Other comprehensive income (loss) before reclassifications (447) 1 — (53) (499) Tax benefit before reclassifications 93 — — 6 99 Amounts reclassified from accumulated other comprehensive loss 84 — 42 — 126 Tax expense (19) — (11) — (30) Net other comprehensive income (loss) (289) 1 31 (47) (304) Balance – September 30, 2020 $ (489) $ 1 $ (680) $ (920) $ (2,088)
Reclassification out of accumulated other comprehensive income (loss) [Table Text Block]	The amounts reclassified out of each component of Accumulated other comprehensive loss are as follows: Three Months Ended Nine Months Ended Affected Line Item on Millions of dollars 2021 2020 2021 2020 Reclassification adjustments for: Financial derivatives: Foreign currency $ (60) $ 89 $ (128) $ 81 Interest expense Commodities (14) — (18) — Cost of sales Interest rates 1 1 4 3 Interest expense Income tax (expense) benefit 17 (22) 32 (19) Provision for income taxes Financial derivatives, net of tax (56) 68 (110) 65 Amortization of defined pension items: Prior service cost — 1 2 3 Other income (expense), net Actuarial loss 14 13 40 39 Other income (expense), net Settlement loss 20 — 24 — Other income (expense), net Income tax expense (6) (4) (10) (11) Provision for income taxes Defined pension items, net of tax 28 10 56 31 Total reclassifications, before tax (39) 104 (76) 126 Income tax (expense) benefit 11 (26) 22 (30) Provision for income taxes Total reclassifications, after tax $ (28) $ 78 $ (54) $ 96 Amount included in net income

Per Share Data (Tables)

Per Share Data (Tables)	9 Months Ended
	Sep. 30, 2021
Earnings Per Share [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 September 30, 2021 2020 Millions of dollars Continuing Discontinued Continuing Discontinued Net income (loss) $ 1,763 $ (1) $ 114 $ — Dividends on redeemable non-controlling interests (2) — (2) — Net income attributable to participating securities (4) — (1) — Net income (loss) attributable to ordinary shareholders – basic and diluted $ 1,757 $ (1) $ 111 $ — Millions of shares, except per share amounts Basic weighted average common stock outstanding 334 334 334 334 Effect of dilutive securities — — — — Potential dilutive shares 334 334 334 334 Earnings per share: Basic $ 5.25 $ — $ 0.33 $ — Diluted $ 5.25 $ — $ 0.33 $ — Nine Months Ended September 30, 2021 2020 Millions of dollars Continuing Discontinued Continuing Discontinued Net income (loss) $ 4,892 $ (1) $ 572 $ — Dividends on redeemable non-controlling interests (5) — (5) — Net income attributable to participating securities (12) — (2) — Net income (loss) attributable to ordinary shareholders – basic and diluted $ 4,875 $ (1) $ 565 $ — Millions of shares, except per share amounts Basic weighted average common stock outstanding 334 334 334 334 Effect of dilutive securities — — — — Potential dilutive shares 334 334 334 334 Earnings per share: Basic $ 14.58 $ — $ 1.69 $ — Diluted $ 14.57 $ — $ 1.69 $ —

Segment and Related Informati_2

Segment and Related Information (Tables)	9 Months Ended
	Sep. 30, 2021
Segment Reporting [Abstract]
Schedule of segment reporting information, by segment [Table Text Block]	Summarized financial information concerning reportable segments is shown in the following tables for the periods presented: Three Months Ended September 30, 2021 Millions of dollars O&P– O&P– I&D APS Refining Technology Other Total Sales and other operating revenues: Customers $ 3,071 $ 3,262 $ 2,851 $ 1,280 $ 2,050 $ 186 $ — $ 12,700 Intersegment 1,337 196 43 6 238 52 (1,872) — 4,408 3,458 2,894 1,286 2,288 238 (1,872) 12,700 Income from equity investments 29 66 9 — — — — 104 EBITDA 1,568 474 348 121 41 155 (16) 2,691 Capital expenditures 72 54 327 20 17 22 2 514 Three Months Ended September 30, 2020 Millions of dollars O&P– O&P– I&D APS Refining Technology Other Total Sales and other operating revenues: Customers $ 1,268 $ 1,837 $ 1,498 $ 1,003 $ 1,003 $ 167 $ — $ 6,776 Intersegment 572 145 40 1 98 26 (882) — 1,840 1,982 1,538 1,004 1,101 193 (882) 6,776 Income from equity investments 15 40 7 — — — — 62 LCM inventory valuation benefit (70) (17) (22) (40) (11) — — (160) EBITDA 474 148 267 157 (692) 111 1 466 Capital expenditures 130 38 103 18 15 24 97 425 Nine Months Ended September 30, 2021 Millions of dollars O&P– O&P– I&D APS Refining Technology Other Total Sales and other operating revenues: Customers $ 7,770 $ 9,342 $ 7,086 $ 3,882 $ 4,784 $ 479 $ — $ 33,343 Intersegment 3,220 618 160 10 575 107 (4,690) — 10,990 9,960 7,246 3,892 5,359 586 (4,690) 33,343 Income from equity investments 94 263 32 — — — — 389 EBITDA 4,011 1,594 1,126 385 (150) 341 (13) 7,294 Capital expenditures 219 141 717 55 62 64 27 1,285 Nine Months Ended September 30, 2020 Millions of dollars O&P– O&P– I&D APS Refining Technology Other Total Sales and other operating revenues: Customers $ 3,514 $ 5,543 $ 4,370 $ 2,796 $ 3,193 $ 400 $ — $ 19,816 Intersegment 1,551 365 95 9 275 92 (2,387) — 5,065 5,908 4,465 2,805 3,468 492 (2,387) 19,816 Income (loss) from equity investments 24 88 12 (1) — — — 123 LCM inventory valuation charge 3 53 76 29 2 — — 163 EBITDA 1,088 522 571 226 (799) 279 (15) 1,872 Capital expenditures 524 114 761 41 52 80 101 1,673
Reconciliation of EBITDA to income (loss) from continuing operations before income taxes [Table Text Block]	A reconciliation of EBITDA to Income (loss) from continuing operations before income taxes is shown in the following table for each of the periods presented: Three Months Ended Nine Months Ended Millions of dollars 2021 2020 2021 2020 EBITDA: Total segment EBITDA $ 2,707 $ 465 $ 7,307 $ 1,887 Other EBITDA (16) 1 (13) (15) Less: Depreciation and amortization expense (351) (358) (1,016) (1,056) Interest expense (126) (122) (366) (336) Add: Interest income 1 3 8 10 Income (loss) from continuing operations before income taxes $ 2,215 $ (11) $ 5,920 $ 490

Revenues (Details)

Revenues (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Dec. 31, 2020
Contract with customer, liability [Abstract]
Contract with customer liability	$ 250		$ 194
Revenue recognized included in beginning contract liability	Revenue recognized in each reporting period, included in the contract liability balance at the beginning of the period, was immaterial.	Revenue recognized in each reporting period, included in the contract liability balance at the beginning of the period, was immaterial.

Revenues, Key products (Details

Revenues, Key products (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Disaggregation of revenue [Abstract]
Sales and other operating revenues	$ 12,700	$ 6,776	$ 33,343	$ 19,816
Olefins & co-products [Member]
Disaggregation of revenue [Abstract]
Sales and other operating revenues	1,453	568	3,729	1,695
Polyethylene [Member]
Disaggregation of revenue [Abstract]
Sales and other operating revenues	2,705	1,423	7,469	4,159
Polypropylene [Member]
Disaggregation of revenue [Abstract]
Sales and other operating revenues	2,162	1,103	5,876	3,173
Propylene oxide and derivatives [Member]
Disaggregation of revenue [Abstract]
Sales and other operating revenues	832	421	2,059	1,217
Oxyfuels and related products [Member]
Disaggregation of revenue [Abstract]
Sales and other operating revenues	1,088	573	2,533	1,669
Intermediate chemicals [Member]
Disaggregation of revenue [Abstract]
Sales and other operating revenues	910	486	2,436	1,434
Compounding and solutions [Member]
Disaggregation of revenue [Abstract]
Sales and other operating revenues	1,019	834	3,134	2,295
Advanced polymers [Member]
Disaggregation of revenue [Abstract]
Sales and other operating revenues	261	169	748	501
Refined products [Member]
Disaggregation of revenue [Abstract]
Sales and other operating revenues	2,050	1,003	4,784	3,193
Other [Member]
Disaggregation of revenue [Abstract]
Sales and other operating revenues	$ 220	$ 196	$ 575	$ 480

Revenues, Geographic locations

Revenues, Geographic locations (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Disaggregation of revenue [Abstract]
Sales and other operating revenues	$ 12,700	$ 6,776	$ 33,343	$ 19,816
United States [Member]
Disaggregation of revenue [Abstract]
Sales and other operating revenues	6,387	2,983	16,089	8,587
Germany [Member]
Disaggregation of revenue [Abstract]
Sales and other operating revenues	886	494	2,585	1,533
China [Member]
Disaggregation of revenue [Abstract]
Sales and other operating revenues	572	369	1,693	914
Italy [Member]
Disaggregation of revenue [Abstract]
Sales and other operating revenues	489	290	1,339	884
Mexico [Member]
Disaggregation of revenue [Abstract]
Sales and other operating revenues	496	285	1,133	868
France [Member]
Disaggregation of revenue [Abstract]
Sales and other operating revenues	384	213	1,040	644
The Netherlands [Member]
Disaggregation of revenue [Abstract]
Sales and other operating revenues	423	197	1,039	562
Japan [Member]
Disaggregation of revenue [Abstract]
Sales and other operating revenues	432	161	993	639
Poland [Member]
Disaggregation of revenue [Abstract]
Sales and other operating revenues	300	205	841	617
Other [Member]
Disaggregation of revenue [Abstract]
Sales and other operating revenues	$ 2,331	$ 1,579	$ 6,591	$ 4,568

Accounts Receivable (Details)

Accounts Receivable (Details) - USD ($) $ in Millions	Sep. 30, 2021	Dec. 31, 2020
Receivables [Abstract]
Allowance for credit losses, receivables	$ 7	$ 15

Inventories (Details)

Inventories (Details) - USD ($) $ in Millions	3 Months Ended	9 Months Ended
	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020	Dec. 31, 2020
Inventory, finished goods, work-in-process, and raw materials and supplies [Abstract]
Finished goods		$ 3,329		$ 2,816
Work-in-process		167		144
Raw materials and supplies		1,486		1,384
Total inventories		4,982		$ 4,344
Lower of cost or market inventory valuation charge (benefit) [Abstract]
LCM inventory valuation charge (benefit)	$ (160)	$ 0	$ 163

Debt, Long-term debt (Details)

Debt, Long-term debt (Details) € in Millions, $ in Millions	9 Months Ended
	Sep. 30, 2021USD ($)	Sep. 30, 2021EUR (€)	Dec. 31, 2020USD ($)
Long-term debt [Line Items]
Long-term debt	$ 12,953		$ 15,294
Current maturities of long-term debt	(8)		(8)
Long-term debt, non-current portion	$ 12,945		15,286
Senior Notes due 2024, $1,000 million, 5.75% ($3 million of debt issuance cost)
Long-term debt [Line Items]
Maturity year	2024
Face amount	$ 1,000
Stated interest rate (in hundredths)	5.75%	5.75%
Unamortized debt issuance cost	$ 3
Long-term debt	$ 997		996
Senior Notes due 2055, $1,000 million, 4.625% ($15 million of discount; $11 million of debt issuance cost)
Long-term debt [Line Items]
Maturity year	2055
Face amount	$ 1,000
Stated interest rate (in hundredths)	4.625%	4.625%
Unamortized discount	$ 15
Unamortized debt issuance cost	11
Long-term debt	$ 974		974
Term Loan due 2022, $4,000 million
Long-term debt [Line Items]
Maturity year	2022
Maximum borrowing capacity	$ 4,000
Long-term debt	$ 0		1,448
Guaranteed Notes due 2023, $750 million, 4.0% ($1 million of discount; $1 million of debt issuance cost)
Long-term debt [Line Items]
Maturity year	2023
Face amount	$ 750
Stated interest rate (in hundredths)	4.00%	4.00%
Unamortized discount	$ 1
Unamortized debt issuance cost	1
Long-term debt	$ 423		745
Guaranteed Floating Rate Notes due 2023, $650 million ($3 million of debt issuance cost)
Long-term debt [Line Items]
Maturity year	2023
Face amount	$ 650
Unamortized debt issuance cost	3
Long-term debt	$ 647		646
Guaranteed Notes due 2025, $500 million, 2.875%
Long-term debt [Line Items]
Maturity year	2025
Face amount	$ 500
Stated interest rate (in hundredths)	2.875%	2.875%
Long-term debt	$ 0		496
Guaranteed Notes due 2025, $500 million, 1.25% ($1 million of discount; $3 million of debt issuance cost)
Long-term debt [Line Items]
Maturity year	2025
Face amount	$ 500
Stated interest rate (in hundredths)	1.25%	1.25%
Unamortized discount	$ 1
Unamortized debt issuance cost	3
Long-term debt	$ 495		495
Guaranteed Notes due 2026, €500 million, 0.875% ($1 million of discount; $3 million of debt issuance cost)
Long-term debt [Line Items]
Maturity year	2026
Face amount | €		€ 500
Stated interest rate (in hundredths)	0.875%	0.875%
Unamortized discount	$ 1
Unamortized debt issuance cost	3
Long-term debt	$ 575		608
Guaranteed Notes due 2027, $1,000 million, 3.5% ($6 million of discount; $5 million of debt issuance cost)
Long-term debt [Line Items]
Maturity year	2027
Face amount	$ 1,000
Stated interest rate (in hundredths)	3.50%	3.50%
Unamortized discount	$ 6
Unamortized debt issuance cost	5
Long-term debt	$ 1,079		1,090
Guaranteed Notes due 2027, $300 million, 8.1%
Long-term debt [Line Items]
Maturity year	2027
Face amount	$ 300
Stated interest rate (in hundredths)	8.10%	8.10%
Long-term debt	$ 300		300
Guaranteed Notes due 2030, $500 million, 3.375% ($1 million of discount; $3 million of debt issuance cost)
Long-term debt [Line Items]
Maturity year	2030
Face amount	$ 500
Stated interest rate (in hundredths)	3.375%	3.375%
Unamortized discount	$ 1
Unamortized debt issuance cost	3
Long-term debt	$ 499		495
Guaranteed Notes due 2030, $500 million, 2.25% ($4 million of discount; $4 million of debt issuance cost)
Long-term debt [Line Items]
Maturity year	2030
Face amount	$ 500
Stated interest rate (in hundredths)	2.25%	2.25%
Unamortized discount	$ 4
Unamortized debt issuance cost	4
Long-term debt	$ 491		492
Guaranteed Notes due 2031, €500 million, 1.625% ($6 million of discount; $3 million of debt issuance cost)
Long-term debt [Line Items]
Maturity year	2031
Face amount | €		€ 500
Stated interest rate (in hundredths)	1.625%	1.625%
Unamortized discount	$ 6
Unamortized debt issuance cost	3
Long-term debt	$ 570		602
Guaranteed Notes due 2040, $750 million, 3.375% ($2 million of discount; $8 million of debt issuance cost)
Long-term debt [Line Items]
Maturity year	2040
Face amount	$ 750
Stated interest rate (in hundredths)	3.375%	3.375%
Unamortized discount	$ 2
Unamortized debt issuance cost	8
Long-term debt	$ 740		740
Guaranteed Notes due 2043, $750 million, 5.25% ($19 million of discount; $7 million of debt issuance cost)
Long-term debt [Line Items]
Maturity year	2043
Face amount	$ 750
Stated interest rate (in hundredths)	5.25%	5.25%
Unamortized discount	$ 19
Unamortized debt issuance cost	7
Long-term debt	$ 724		723
Guaranteed Notes due 2044, $1,000 million, 4.875% ($10 million of discount; $9 million of debt issuance cost)
Long-term debt [Line Items]
Maturity year	2044
Face amount	$ 1,000
Stated interest rate (in hundredths)	4.875%	4.875%
Unamortized discount	$ 10
Unamortized debt issuance cost	9
Long-term debt	$ 981		981
Guaranteed Notes due 2049, $1,000 million, 4.2% ($15 million of discount; $10 million of debt issuance cost)
Long-term debt [Line Items]
Maturity year	2049
Face amount	$ 1,000
Stated interest rate (in hundredths)	4.20%	4.20%
Unamortized discount	$ 15
Unamortized debt issuance cost	10
Long-term debt	$ 975		975
Guaranteed Notes due 2050, $1,000 million, 4.2% ($6 million of discount; $10 million of debt issuance cost)
Long-term debt [Line Items]
Maturity year	2050
Face amount	$ 1,000
Stated interest rate (in hundredths)	4.20%	4.20%
Unamortized discount	$ 6
Unamortized debt issuance cost	10
Long-term debt	$ 983		984
Guaranteed Notes due 2051, $1,000 million, 3.625% ($3 million of discount; $11 million of debt issuance cost)
Long-term debt [Line Items]
Maturity year	2051
Face amount	$ 1,000
Stated interest rate (in hundredths)	3.625%	3.625%
Unamortized discount	$ 3
Unamortized debt issuance cost	11
Long-term debt	$ 986		986
Guaranteed Notes due 2060, $500 million, 3.8% ($4 million of discount; $6 million of debt issuance cost)
Long-term debt [Line Items]
Maturity year	2060
Face amount	$ 500
Stated interest rate (in hundredths)	3.80%	3.80%
Unamortized discount	$ 4
Unamortized debt issuance cost	6
Long-term debt	490		490
Other long-term debt [Member]
Long-term debt [Line Items]
Long-term debt	$ 24		$ 28

Debt, Description of fair value

Debt, Description of fair value adjustments for senior and guaranteed notes (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020	Dec. 31, 2020
Debt Instrument [Line Items]
Gain (loss) on fair value adjustments of the hedged item related to interest rate swaps	$ 10	$ 6	$ 14	$ (81)
Cumulative fair value hedging adjustments included in carrying amount of debt	$ (90)		$ (90)		$ (104)
Senior Notes due 2021, 6.0% [Member]
Debt Instrument [Line Items]
Maturity year			2021
Stated interest rate (in hundredths)	6.00%		6.00%
Gain (loss) on fair value adjustments of the hedged item related to interest rate swaps	$ 0	3	$ 0	(11)
Cumulative fair value hedging adjustments included in carrying amount of debt	$ 0		$ 0		0
Guaranteed Notes due 2022, 1.875% [Member]
Debt Instrument [Line Items]
Maturity year			2022
Stated interest rate (in hundredths)	1.875%		1.875%
Gain (loss) on fair value adjustments of the hedged item related to interest rate swaps	$ 0	0	$ 0	1
Cumulative fair value hedging adjustments included in carrying amount of debt	$ 0		$ 0		0
Guaranteed Notes due 2025, 1.25% [Member]
Debt Instrument [Line Items]
Maturity year			2025
Stated interest rate (in hundredths)	1.25%		1.25%
Gain (loss) on fair value adjustments of the hedged item related to interest rate swaps	$ 1		$ 1
Cumulative fair value hedging adjustments included in carrying amount of debt	$ 1		$ 1
Guaranteed Notes due 2026, 0.875% [Member]
Debt Instrument [Line Items]
Maturity year			2026
Stated interest rate (in hundredths)	0.875%		0.875%
Gain (loss) on fair value adjustments of the hedged item related to interest rate swaps	$ 1	(1)	$ 2	(2)
Cumulative fair value hedging adjustments included in carrying amount of debt	$ 0		$ 0		(2)
Guaranteed Notes due 2027, 3.5% [Member]
Debt Instrument [Line Items]
Maturity year			2027
Stated interest rate (in hundredths)	3.50%		3.50%
Gain (loss) on fair value adjustments of the hedged item related to interest rate swaps	$ 5	$ 4	$ 12	$ (69)
Cumulative fair value hedging adjustments included in carrying amount of debt	$ (90)		$ (90)		$ (102)
Guaranteed Notes due 2030, 3.375% [Member]
Debt Instrument [Line Items]
Maturity year			2030
Stated interest rate (in hundredths)	3.375%		3.375%
Gain (loss) on fair value adjustments of the hedged item related to interest rate swaps	$ 1		$ (3)
Cumulative fair value hedging adjustments included in carrying amount of debt	$ (3)		$ (3)
Guaranteed Notes due 2030, 2.25% [Member]
Debt Instrument [Line Items]
Maturity year			2030
Stated interest rate (in hundredths)	2.25%		2.25%
Gain (loss) on fair value adjustments of the hedged item related to interest rate swaps	$ 1		$ 1
Cumulative fair value hedging adjustments included in carrying amount of debt	$ 1		$ 1
Guaranteed Notes due 2050, 4.2% [Member]
Debt Instrument [Line Items]
Maturity year			2050
Stated interest rate (in hundredths)	4.20%		4.20%
Gain (loss) on fair value adjustments of the hedged item related to interest rate swaps	$ 1		$ 1
Cumulative fair value hedging adjustments included in carrying amount of debt	$ 1		$ 1

Debt, Short-term debt (Details)

Debt, Short-term debt (Details) - USD ($) $ in Millions	Sep. 30, 2021	Dec. 31, 2020
Short-term debt [Line Items]
Short-term debt	$ 563	$ 663
U.S. Receivables Facility [Member]
Short-term debt [Line Items]
Short-term debt	0	0
Commercial paper [Member]
Short-term debt [Line Items]
Short-term debt	397	500
Precious metal financings [Member]
Short-term debt [Line Items]
Short-term debt	159	140
Other short-term debt [Member]
Short-term debt [Line Items]
Short-term debt	$ 7	$ 23

Debt, Description of long-term

Debt, Description of long-term debt (Details) - USD ($) $ in Millions	1 Months Ended			9 Months Ended
	Oct. 31, 2021	Sep. 30, 2021	Jun. 30, 2021	Sep. 30, 2021	Sep. 30, 2020	Dec. 31, 2020
Long-term debt [Line Items]
Outstanding borrowings		$ 12,953		$ 12,953		$ 15,294
Repayment of long-term debt		500		2,275	$ 500
Payment for debt extinguishment				57	$ 0
Senior Revolving Credit Facility [Member]
Long-term debt [Line Items]
Maximum borrowing capacity		2,500		2,500
Extended term borrowing capacity		2,440		$ 2,440
Extended expiration date				June 2023
Remaining expiration date				June 2022
Maximum allowed letters of credit		500		$ 500
Additional borrowing capacity, uncommitted loans		1,000		$ 1,000
Credit facility description of interest rate				Borrowings under the facility bear interest at either a base rate or LIBOR rate, plus an applicable margin. Additional fees are incurred for the average daily unused commitments.
Outstanding borrowings		0		$ 0
Outstanding letters of credit		0		0
Unused availability		2,104		2,104
Term Loan due 2022, $4,000 million
Long-term debt [Line Items]
Maximum borrowing capacity		4,000		$ 4,000
Credit facility description of interest rate				Outstanding borrowings bear interest at either a base rate or LIBOR rate, as defined, plus in each case, an applicable margin determined by reference to LyondellBasell N.V.’s current credit ratings
Outstanding borrowings		0		$ 0		1,448
Issuance date				March 2019
Maturity year				2022
Repayment of long-term debt				$ 1,450
Guaranteed Notes due 2023 [Member]
Long-term debt [Line Items]
Outstanding borrowings		423		$ 423		745
Issuance date				July 2013
Maturity year				2023
Repayment of long-term debt			$ 325
Face amount		$ 750		$ 750
Stated interest rate (in hundredths)		4.00%		4.00%
Discounted prices at which long-term debt was issued (in thousandths)		98.678%		98.678%
Debt extinguishment costs			25
Payment for debt extinguishment			23
Write-off of debt issuance cost			$ 2
Guaranteed Notes due 2025, 2.875% [Member]
Long-term debt [Line Items]
Outstanding borrowings		$ 0		$ 0		496
Issuance date				April 2020
Maturity year				2025
Repayment of long-term debt		500
Face amount		$ 500		$ 500
Stated interest rate (in hundredths)		2.875%		2.875%
Discounted prices at which long-term debt was issued (in thousandths)		99.911%		99.911%
Debt extinguishment costs		$ 37
Payment for debt extinguishment		34
Write-off of debt issuance cost		3
Guaranteed Floating Rate Note due 2023 [Member]
Long-term debt [Line Items]
Outstanding borrowings		647		$ 647		$ 646
Maturity year				2023
Face amount		$ 650		$ 650
Guaranteed Floating Rate Note due 2023 [Member] | Subsequent Event [Member]
Long-term debt [Line Items]
Issuance date	October 2020
Repayment of long-term debt	$ 650
Face amount	650
Debt extinguishment costs	3
Write-off of debt issuance cost	$ 3

Debt, Description of short-term

Debt, Description of short-term debt (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2021	Dec. 31, 2020
Description of short-term debt [Line Items]
Outstanding short-term borrowings	$ 563
Weighted average interest rate, short-term debt (in hundredths)	0.70%	0.90%
U.S. Receivables Facility [Member]
Description of short-term debt [Line Items]
Maximum borrowing capacity	$ 900
Additional borrowing capacity, uncommitted loans	$ 300
Expiration date	June 2024
Credit facility description of interest rate	We pay variable interest rates on our secured borrowings. Additional fees are incurred for the average daily unused commitments.
Maximum allowed letters of credit	$ 200
Outstanding short-term borrowings	0
Outstanding letters of credit	0
Unused availability	900
Commercial paper [Member]
Description of short-term debt [Line Items]
Maximum borrowing capacity	2,500
Outstanding short-term borrowings	$ 397
Description of interest rate	Interest rates on the commercial paper outstanding at September 30, 2021 are based on the terms of the notes and range from 0.13% to 0.17%

Debt, Debt discount and issuanc

Debt, Debt discount and issuance costs included in interest expense (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020
Debt discount and issuance costs [Abstract]
Amortization of debt discounts and debt issuance costs	$ 21	$ 12

Debt, Covenant Compliance (Deta

Debt, Covenant Compliance (Details)	9 Months Ended
	Sep. 30, 2021
Debt Disclosure [Abstract]
Debt instrument, covenant compliance	we are in compliance with our debt covenants

Financial Instruments and Fai_3

Financial Instruments and Fair Value Measurements, Market risks, commodity prices and foreign currency rates (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020	Dec. 31, 2020
Cash and Cash Equivalents, at Carrying Value [Abstract]
Amount of marketable securities classified as cash and cash equivalents	$ 707		$ 707		$ 682
Foreign currency [Abstract]
Foreign currency gain (loss)	$ 4	$ 3	$ 2	$ (4)

Financial Instruments and Fai_4

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	Sep. 30, 2021	Dec. 31, 2020
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	$ 2,574	$ 1,103
Notional amount, derivative and non-derivative financial instruments liabilities	5,570	5,084
Fair value, derivative and non-derivative financial instruments assets	245	739
Fair value, derivative and non-derivative financial instruments liabilities	490	808
Derivative [Member] | Designated as hedges: [Member] | Commodities [Member] | Prepaid expenses and other current assets [Member] | Fair value, inputs, level 2 [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	35	19
Fair value, derivative and non-derivative financial instruments assets	47	3
Derivative [Member] | Designated as hedges: [Member] | Commodities [Member] | Other assets [Member] | Fair value, inputs, level 2 [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	10	41
Fair value, derivative and non-derivative financial instruments assets	7	4
Derivative [Member] | Designated as hedges: [Member] | Commodities [Member] | Accrued liabilities [Member] | Fair value, inputs, level 2 [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	0	2
Derivative [Member] | Designated as hedges: [Member] | Foreign currency [Member] | Prepaid expenses and other current assets [Member] | Fair value, inputs, level 2 [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	614	0
Fair value, derivative and non-derivative financial instruments assets	82	26
Derivative [Member] | Designated as hedges: [Member] | Foreign currency [Member] | Other assets [Member] | Fair value, inputs, level 2 [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	1,024	0
Fair value, derivative and non-derivative financial instruments assets	25	0
Derivative [Member] | Designated as hedges: [Member] | Foreign currency [Member] | Accrued liabilities [Member] | Fair value, inputs, level 2 [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	855	1,213
Fair value, derivative and non-derivative financial instruments liabilities	101	146
Derivative [Member] | Designated as hedges: [Member] | Foreign currency [Member] | Other liabilities [Member] | Fair value, inputs, level 2 [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	2,270	2,682
Fair value, derivative and non-derivative financial instruments liabilities	144	302
Derivative [Member] | Designated as hedges: [Member] | Interest rate contract [Member] | Prepaid expenses and other current assets [Member] | Fair value, inputs, level 2 [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	5	0
Derivative [Member] | Designated as hedges: [Member] | Interest rate contract [Member] | Other assets [Member] | Fair value, inputs, level 2 [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	416	122
Fair value, derivative and non-derivative financial instruments assets	3	2
Derivative [Member] | Designated as hedges: [Member] | Interest rate contract [Member] | Accrued liabilities [Member] | Fair value, inputs, level 2 [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	1	0
Derivative [Member] | Designated as hedges: [Member] | Interest rate contract [Member] | Other liabilities [Member] | Fair value, inputs, level 2 [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	1,600	1,000
Fair value, derivative and non-derivative financial instruments liabilities	228	343
Derivative [Member] | Not designated as hedges: [Member] | Commodities [Member] | Prepaid expenses and other current assets [Member] | Fair value, inputs, level 2 [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	288	71
Fair value, derivative and non-derivative financial instruments assets	38	2
Derivative [Member] | Not designated as hedges: [Member] | Commodities [Member] | Other assets [Member] | Fair value, inputs, level 2 [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	1	0
Fair value, derivative and non-derivative financial instruments assets	1	0
Derivative [Member] | Not designated as hedges: [Member] | Commodities [Member] | Accrued liabilities [Member] | Fair value, inputs, level 2 [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	113
Fair value, derivative and non-derivative financial instruments liabilities	0	14
Derivative [Member] | Not designated as hedges: [Member] | Foreign currency [Member] | Prepaid expenses and other current assets [Member] | Fair value, inputs, level 2 [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	150	149
Fair value, derivative and non-derivative financial instruments assets	2	0
Derivative [Member] | Not designated as hedges: [Member] | Foreign currency [Member] | Accrued liabilities [Member] | Fair value, inputs, level 2 [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	842	76
Fair value, derivative and non-derivative financial instruments liabilities	16	1
Non-derivatives: [Member] | Available-for-sale debt securities [Member] | Short-term investments [Member] | Fair value, inputs, level 2 [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	348
Fair value, derivative and non-derivative financial instruments assets	0	349
Non-derivatives: [Member] | Equity securities [Member] | Short-term investments [Member] | Fair value, inputs, level 2 [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		353
Fair value, derivative and non-derivative financial instruments assets		$ 353
Non-derivatives: [Member] | Equity securities [Member] | Short-term investments [Member] | Fair value measured at net asset value per share [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	36
Fair value, derivative and non-derivative financial instruments assets	$ 35

Financial Instruments and Fai_5

Financial Instruments and Fair Value Measurements, Outstanding foreign currency and commodity contracts (Details) - Not designated as hedges: [Member]	9 Months Ended
	Sep. 30, 2021
Foreign currency rates [Member] | Minimum [Member]
Derivative [Line Items]
Derivative, maturity date	2021-10
Foreign currency rates [Member] | Maximum [Member]
Derivative [Line Items]
Derivative, maturity date	2022-03
Commodities [Member] | Minimum [Member]
Derivative [Line Items]
Derivative, maturity date	2021-10
Commodities [Member] | Maximum [Member]
Derivative [Line Items]
Derivative, maturity date	2021-12

Financial Instruments and Fai_6

Financial Instruments and Fair Value Measurements, Carrying value and estimated fair value of non-derivative financial instruments (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2021	Dec. 31, 2020
Liabilities: [Abstract]
Short-term debt, carrying value	$ 563	$ 663
Nonrecurring [Member] | Non-derivatives: [Member]
Liabilities: [Abstract]
Short-term debt, carrying value	159	140
Long-term debt, carrying value	12,929	15,266
Total liabilities, carrying value	13,088	15,406
Short-term debt, fair value	129	154
Long-term debt, fair value	14,493	17,290
Total liabilities, fair value	$ 14,622	$ 17,444
Non-derivative fair value level description	All financial instruments in the table below are classified as Level 2

Financial Instruments and Fai_7

Financial Instruments and Fair Value Measurements, Summary of net investment hedges (Details) € in Millions, $ in Millions	1 Months Ended		9 Months Ended
	Jul. 31, 2021USD ($)	Jul. 31, 2021EUR (€)	Sep. 30, 2021USD ($)	Sep. 30, 2020USD ($)	Sep. 30, 2021EUR (€)	Dec. 31, 2020USD ($)	Dec. 31, 2020EUR (€)
Derivative [Line Items]
Payments for settlement of net investment hedges			$ 355	$ 0
Proceeds from settlement of net investment hedges			358	$ 0
Net investment hedging [Member] | Foreign currency contract [Member]
Derivative [Line Items]
Notional value | €					€ 1,000
Derivative [Member] | Net investment hedging [Member] | Foreign currency contract [Member]
Derivative [Line Items]
Notional value			$ 2,758		€ 2,367	$ 1,890	€ 1,667
Notional amounts, value of expired derivatives | €		€ 300
Payments for settlement of net investment hedges	$ 355	€ 300
Proceeds from settlement of net investment hedges	$ 358
Derivative [Member] | Net investment hedging [Member] | Foreign currency contract [Member] | Minimum [Member]
Derivative [Line Items]
Expiration date			2022
Derivative [Member] | Net investment hedging [Member] | Foreign currency contract [Member] | Maximum [Member]
Derivative [Line Items]
Expiration date			2030

Financial Instruments and Fai_8

Financial Instruments and Fair Value Measurements, Summary of cash flow hedges (Details) - Cash flow hedge [Member] - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2021	Dec. 31, 2020
Interest expense [Member]
Derivative [Line Items]
Pre-tax unrealized gain (loss) to be reclassified to earnings over the next twelve months	$ 6
Foreign currency [Member]
Derivative [Line Items]
Notional value	$ 2,005	$ 2,005
Foreign currency [Member] | Minimum [Member]
Derivative [Line Items]
Expiration date	2021
Foreign currency [Member] | Maximum [Member]
Derivative [Line Items]
Expiration date	2027
Interest rates [Member]
Derivative [Line Items]
Notional value	$ 1,000	1,000
Interest rates [Member] | Other assets [Member]
Derivative [Line Items]
Derivative collateral	$ 238	238
Interest rates [Member] | Minimum [Member]
Derivative [Line Items]
Expiration date	2023
Interest rates [Member] | Maximum [Member]
Derivative [Line Items]
Expiration date	2024
Commodities [Member]
Derivative [Line Items]
Notional value	$ 45	$ 60
Commodities [Member] | Minimum [Member]
Derivative [Line Items]
Expiration date	2021
Commodities [Member] | Maximum [Member]
Derivative [Line Items]
Expiration date	2022

Financial Instruments and Fai_9

Financial Instruments and Fair Value Measurements, Summary of fair value hedges (Details) - USD ($) $ in Millions	1 Months Ended	9 Months Ended
	Sep. 30, 2021	Sep. 30, 2021	Sep. 30, 2020	Dec. 31, 2020
Derivative [Line Items]
Repayment of long-term debt	$ 500	$ 2,275	$ 500
Guaranteed Notes due 2030, 3.375% [Member]
Derivative [Line Items]
Face amount	$ 500	$ 500
Interest rate	3.375%	3.375%
Debt maturity year		2030
Guaranteed Notes due 2027, 3.5% [Member]
Derivative [Line Items]
Face amount	$ 1,000	$ 1,000
Interest rate	3.50%	3.50%
Debt maturity year		2027
Guaranteed Notes due 2025, 2.875% [Member]
Derivative [Line Items]
Repayment of long-term debt	$ 500
Face amount	$ 500	$ 500
Interest rate	2.875%	2.875%
Debt maturity year		2025
Fair value hedge [Member] | Interest rate contract [Member]
Derivative [Line Items]
Notional value	$ 1,016	$ 1,016		$ 122
Description of interest rate risk exposure		the risk of variability in the 3-month LIBOR rate component
Fair value hedge [Member] | Interest rate contract [Member] | Guaranteed Notes due 2030, 3.375% [Member]
Derivative [Line Items]
Amount of hedged item	150	$ 150
Face amount	$ 500	$ 500
Interest rate	3.375%	3.375%
Debt maturity year		2030
Fair value hedge [Member] | Interest rate contract [Member] | Guaranteed Notes due 2027, 3.5% [Member]
Derivative [Line Items]
Amount of hedged item	$ 300	$ 300
Face amount	$ 1,000	$ 1,000
Interest rate	3.50%	3.50%
Debt maturity year		2027
Fair value hedge [Member] | Interest rate contract [Member] | Guaranteed Notes due 2025, 2.875% [Member]
Derivative [Line Items]
Amount of hedged item	$ 150	$ 150
Face amount	$ 500	$ 500
Interest rate	2.875%	2.875%
Debt maturity year		2025
Fair value hedge [Member] | Interest rate contract [Member] | Guaranteed Notes due 2025, 1.25% [Member]
Derivative [Line Items]
Amount of hedged item	$ 150	$ 150
Face amount	$ 500	$ 500
Interest rate	1.25%	1.25%
Debt maturity year		2025
Fair value hedge [Member] | Interest rate contract [Member] | Guaranteed Notes due 2030, 2.25% [Member]
Derivative [Line Items]
Amount of hedged item	$ 150	$ 150
Face amount	$ 500	$ 500
Interest rate	2.25%	2.25%
Debt maturity year		2030
Fair value hedge [Member] | Interest rate contract [Member] | Guaranteed Notes due 2050, 4.2% [Member]
Derivative [Line Items]
Amount of hedged item	$ 150	$ 150
Face amount	$ 1,000	$ 1,000
Interest rate	4.20%	4.20%
Debt maturity year	2050
Description of interest rate risk exposure	the risk of variability in the 3-month LIBOR rate component
Fair value hedge [Member] | Interest rate contract [Member] | Minimum [Member]
Derivative [Line Items]
Derivative, maturity date		2025
Fair value hedge [Member] | Interest rate contract [Member] | Maximum [Member]
Derivative [Line Items]
Derivative, maturity date		2030

Financial Instruments and Fa_10

Financial Instruments and Fair Value Measurements, Pretax effect of derivative instruments charged directly to income (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Derivative Instruments, gain (loss) [Line Items]
Gain (loss) recognized in AOCI	$ 190	$ (53)	$ 458	$ (507)
Gain (loss) reclassified from AOCI to income	(73)	90	(142)	84
Gain (loss) recognized in income	27	$ 49	63	238
Pretax effect of the periodic receipt of fixed interest and payment of variable interest	2		3	$ 3
Pretax gain of the periodic receipt of fixed interest and payment of variable interest		less than $1 million
Derivatives: [Member] | Foreign currency [Member] | Net investment hedges [Member]
Derivative Instruments, gain (loss) [Line Items]
Amount of gain (loss) recognized in other comprehensive income on derivative amount excluded from effectiveness testing	1	$ 1	5
Amount of loss recognized in other comprehensive income on derivative amount excluded from effectiveness testing				less than $1 million
Amount of gain (loss) recognized in earnings on derivative amount excluded from effectiveness testing	1	1	6	$ 8
Derivatives: [Member] | Designated as hedges: [Member] | Commodities [Member] | Cost of sales [Member]
Derivative Instruments, gain (loss) [Line Items]
Gain (loss) recognized in AOCI	38	8	67	6
Gain (loss) reclassified from AOCI to income	(14)	0	(18)	0
Gain (loss) recognized in income	0	0	0	0
Derivatives: [Member] | Designated as hedges: [Member] | Foreign currency [Member] | Interest expense [Member]
Derivative Instruments, gain (loss) [Line Items]
Gain (loss) recognized in AOCI	135	(125)	274	(47)
Gain (loss) reclassified from AOCI to income	(60)	89	(128)	81
Gain (loss) recognized in income	9	8	34	38
Derivatives: [Member] | Designated as hedges: [Member] | Interest rate contract [Member] | Interest expense [Member]
Derivative Instruments, gain (loss) [Line Items]
Gain (loss) recognized in AOCI	17	102	117	(430)
Gain (loss) reclassified from AOCI to income	1	1	4	3
Gain (loss) recognized in income	(5)	1	0	91
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	0	0
Gain (loss) reclassified from AOCI to income	0	0	0	0
Gain (loss) recognized in income	6	(1)	18	4
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	0	0
Gain (loss) reclassified from AOCI to income	0	0	0	0
Gain (loss) recognized in income	49	42	72	116
Derivatives: [Member] | Not designated as hedges: [Member] | Foreign currency [Member] | Other income (expense), net [Member]
Derivative Instruments, gain (loss) [Line Items]
Gain (loss) recognized in AOCI	0	0	0	0
Gain (loss) reclassified from AOCI to income	0	0	0	0
Gain (loss) recognized in income	(32)	(1)	(61)	(11)
Non-derivatives: [Member] | Designated as hedges: [Member] | Long-term debt [Member] | Other income (expense), net [Member]
Derivative Instruments, gain (loss) [Line Items]
Gain (loss) recognized in AOCI	0	(38)	0	(36)
Gain (loss) reclassified from AOCI to income	0	0	0	0
Gain (loss) recognized in income	$ 0	$ 0	$ 0	$ 0

Financial Instruments and Fa_11

Financial Instruments and Fair Value Measurements, Summary of available-for-sale debt securities (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020	Dec. 31, 2020
Available-for-sale debt securities [Abstract]
Cost	$ 0		$ 0		$ 348
Gross unrealized gains			0		1
Gross unrealized losses			0		0
Fair value	0		0		349
Available-for-sale debt securities, additional information [Abstract]
Allowance for credit losses related to available-for-sale debt securities	0		0		0
Proceeds from maturities and sales of available-for-sale debt securities and the related gross realized gains and losses [Abstract]
Proceeds from maturities of available-for-sale debt securities	55	$ 0	346	$ 0
Proceeds from sale of available-for-sale debt securities	0	$ 90	0	$ 90
Available-for-sale debt securities continuous unrealized loss position [Abstract]
Unrealized loss on available-for-sale debt securities in continuous unrealized loss position for less than twelve months	0		0		0
Unrealized loss on available-for-sale debt securities in continuous unrealized loss position for greater than twelve months	$ 0		$ 0		$ 0

Financial Instruments and Fa_12

Financial Instruments and Fair Value Measurements, Equity securities (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020	Dec. 31, 2020
Derivative [Line Items]
Proceeds from equity securities			$ 309	$ 313
Equity securities [Member]
Derivative [Line Items]
Notional amount	$ 36		36		$ 353
Fair value	36		36		$ 353
Proceeds from equity securities	$ 45	$ 312	$ 309	313
Unrealized loss on equity securities	less than $1 million		less than $1 million
Unrealized gain (loss) on equity securities		$ 0		$ 0

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020	Dec. 31, 2020
Effective income tax rate reconciliation, percent [Abstract]
Effective income tax rate (in hundredths)	20.40%	1136.40%	17.40%	(16.70%)
Income tax benefit [Abstract]
Tax exempt income tax benefit, percent			12.40%
Tax benefit due to non-cash impairment, percent			21.70%
Provision for (benefit from) income taxes	$ 452	$ (125)	$ 1,028	$ (82)
Income (loss) before income taxes	2,215	$ (11)	5,920	$ 490
Accrued income taxes, current	$ 497		$ 497		$ 67

Commitments and Contingencies (

Commitments and Contingencies (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2021	Dec. 31, 2020
Commitments and Contingencies Disclosure [Abstract]
Capital purchase commitment	$ 472
Site contingency [Line Items]
Future environmental remediation costs	$ 144	$ 133
Minimum [Member]
Site contingency [Line Items]
Minimum accrued liability for individual site range	less than $1 million
Maximum [Member]
Site contingency [Line Items]
Maximum accrued liability for individual site range	$ 27

Commitments and Contingencies,

Commitments and Contingencies, Indemnification (Details)	9 Months Ended
	Sep. 30, 2021
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

Shareholders' Equity and Rede_3

Shareholders' Equity and Redeemable Non-controlling Interests, Shareholders' Equity, Dividend distributions (Details) - USD ($) $ / shares in Units, $ in Millions	1 Months Ended			9 Months Ended
	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Sep. 30, 2021
Payments of Dividends [Abstract]
Dividend per ordinary share (per share)	$ 1.13	$ 1.13	$ 1.05	$ 3.31
Aggregate dividends paid	$ 380	$ 378	$ 352	$ 1,110
Date of record common stock shareholders	Aug. 30, 2021	Jun. 7, 2021	Mar. 8, 2021

Shareholders' Equity and Rede_4

Shareholders' Equity and Redeemable Non-controlling Interests, Shareholders' Equity, Share repurchase authorization (Details) - USD ($) $ / shares in Units, $ in Millions	1 Months Ended	9 Months Ended
	May 31, 2021	Sep. 30, 2021	Sep. 30, 2020
Share repurchase authorization [Line Items]
Cash paid for shares repurchased		$ 78	$ 4
May 2021 Share Repurchase Authorization [Member]
Share repurchase authorization [Line Items]
Share repurchase authorization shares authorized to be repurchased	34,000,000
Share repurchase authorization expiration date	Nov. 28, 2022
Shares repurchased (in shares)		953,681
Average purchase price (in dollars per share)		$ 93.34
Total purchase price, including commissions and fees		$ 89
Sept 2019 Share Repurchase Authorization [Member]
Share repurchase authorization [Line Items]
Shares repurchased (in shares)			50,685
Average purchase price (in dollars per share)			$ 78.93
Total purchase price, including commissions and fees			$ 4

Shareholders' Equity and Rede_5

Shareholders' Equity and Redeemable Non-controlling Interests, Shareholders' Equity, Ordinary shares (Details) - shares	9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020
Ordinary share outstanding [Abstract]
Beginning balance (in shares)	334,015,220
Ending balance (in shares)	333,627,352
Ordinary shares [Member]
Ordinary share outstanding [Abstract]
Beginning balance (in shares)	334,015,220	333,476,883
Share-based compensation (in shares)	415,857	246,640
Employee stock purchase plan (in shares)	149,956	245,521
Purchase of ordinary shares (in shares)	(953,681)	(50,685)
Ending balance (in shares)	333,627,352	333,918,359

Shareholders' Equity and Rede_6

Shareholders' Equity and Redeemable Non-controlling Interests, Shareholders' Equity, Treasury shares (Details) - shares	9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020
Increase (Decrease) in Treasury Stock [Roll Forward]
Beginning balance (in shares)	6,030,408
Ending balance (in shares)	6,518,226
Treasury shares [Member]
Increase (Decrease) in Treasury Stock [Roll Forward]
Beginning balance (in shares)	6,030,408	6,568,745
Share-based compensation (in shares)	(415,857)	(246,640)
Employee stock purchase plan (in shares)	(50,006)	(245,521)
Purchase of ordinary shares (in shares)	953,681	50,685
Ending balance (in shares)	6,518,226	6,127,269

Shareholders' Equity and Rede_7

Shareholders' Equity and Redeemable Non-controlling Interests, Shareholders' Equity, Components of accumulated other comprehensive income (loss) (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020
Accumulated other comprehensive income (loss) [Line Items]
Accumulated other comprehensive income (loss), beginning of period	$ (1,943)	$ (1,784)
Other comprehensive income (loss) before reclassifications	218	(499)
Tax (expense) benefit before reclassifications	(104)	99
Amounts reclassified from accumulated other comprehensive income (loss)	(76)	126
Tax (expense) benefit	22	(30)
Net other comprehensive income (loss)	60	(304)
Accumulated other comprehensive income (loss), end of period	(1,883)	(2,088)
Financial derivatives [Member]
Accumulated other comprehensive income (loss) [Line Items]
Accumulated other comprehensive income (loss), beginning of period	(426)	(200)
Other comprehensive income (loss) before reclassifications	311	(447)
Tax (expense) benefit before reclassifications	(69)	93
Amounts reclassified from accumulated other comprehensive income (loss)	(142)	84
Tax (expense) benefit	32	(19)
Net other comprehensive income (loss)	132	(289)
Accumulated other comprehensive income (loss), end of period	(294)	(489)
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	1	0
Other comprehensive income (loss) before reclassifications	(1)	1
Tax (expense) benefit before reclassifications	0	0
Amounts reclassified from accumulated other comprehensive income (loss)	0	0
Tax (expense) benefit	0	0
Net other comprehensive income (loss)	(1)	1
Accumulated other comprehensive income (loss), end of period	0	1
Defined benefit pension and other postretirement benefit plans [Member]
Accumulated other comprehensive income (loss) [Line Items]
Accumulated other comprehensive income (loss), beginning of period	(752)	(711)
Other comprehensive income (loss) before reclassifications	0	0
Tax (expense) benefit before reclassifications	0	0
Amounts reclassified from accumulated other comprehensive income (loss)	66	42
Tax (expense) benefit	(10)	(11)
Net other comprehensive income (loss)	56	31
Accumulated other comprehensive income (loss), end of period	(696)	(680)
Foreign currency translation adjustments [Member]
Accumulated other comprehensive income (loss) [Line Items]
Accumulated other comprehensive income (loss), beginning of period	(766)	(873)
Other comprehensive income (loss) before reclassifications	(92)	(53)
Tax (expense) benefit before reclassifications	(35)	6
Amounts reclassified from accumulated other comprehensive income (loss)	0	0
Tax (expense) benefit	0	0
Net other comprehensive income (loss)	(127)	(47)
Accumulated other comprehensive income (loss), end of period	$ (893)	$ (920)

Shareholders' Equity and Rede_8

Shareholders' Equity and Redeemable Non-controlling Interests, Shareholders' Equity, Reclassification out of accumulated other comprehensive income (loss) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Reclassification adjustments out of accumulated other comprehensive income (loss) [Line Items]
Sales and other operating revenue	$ 12,700	$ 6,776	$ 33,343	$ 19,816
Cost of sales	10,109	5,885	26,463	17,647
Interest expense (income)	126	122	366	336
Income (loss) before income taxes	2,215	(11)	5,920	490
Provision for (benefit from) income taxes	452	(125)	1,028	(82)
Net income	1,762	114	4,891	572
Amounts reclassified out of accumulated other comprehensive income (loss) [Member]
Reclassification adjustments out of accumulated other comprehensive income (loss) [Line Items]
Income (loss) before income taxes	(39)	104	(76)	126
Provision for (benefit from) income taxes	11	(26)	22	(30)
Net income	(28)	78	(54)	96
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	17	(22)	32	(19)
Net income	(56)	68	(110)	65
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]
Interest expense (income)	(60)	89	(128)	81
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	(14)	0	(18)	0
Financial derivatives [Member] | Interest rate contract [Member] | Amounts reclassified out of accumulated other comprehensive income (loss) [Member]
Reclassification adjustments out of accumulated other comprehensive income (loss) [Line Items]
Interest expense (income)	1	1	4	3
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 prior service cost (benefit)	0	1	2	3
Amortization of actuarial (gain) loss	14	13	40	39
Settlement (gain) loss	20	0	24	0
Provision for (benefit from) income taxes	(6)	(4)	(10)	(11)
Net income	$ 28	$ 10	$ 56	$ 31

Shareholders' Equity and Rede_9

Shareholders' Equity and Redeemable Non-controlling Interests, Redeemable non-controlling interests (Details) - USD ($) $ / shares in Units, $ in Millions	1 Months Ended			3 Months Ended		9 Months Ended
	Aug. 31, 2021	May 31, 2021	Feb. 28, 2021	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020	Dec. 31, 2020
Temporary Equity [Abstract]
Cumulative redeemable non-controlling interest stock outstanding				115,374		115,374		115,374
Redeemable non-controlling interests, dividends per share (in dollars per share)	$ 15	$ 15	$ 15	$ 15	$ 15	$ 45	$ 45
Date of record redeemable non-controlling interest shareholders	Jul. 15, 2021	Apr. 15, 2021	Jan. 15, 2021
Dividends on redeemable non-controlling interests				$ 2	$ 2	$ 5	$ 5

Per Share Data (Details)

Per Share Data (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Earnings per share reconciliation [Abstract]
Net income (loss)	$ 1,762	$ 114	$ 4,891	$ 572
Dividends on redeemable non-controlling interests	$ (2)	$ (2)	$ (5)	$ (5)
Earnings (loss) per share: [Abstract]
Basic (in dollars per share)	$ 5.25	$ 0.33	$ 14.58	$ 1.69
Diluted (in dollars per share)	$ 5.25	$ 0.33	$ 14.57	$ 1.69
Continuing operations [Member]
Earnings per share reconciliation [Abstract]
Net income (loss)	$ 1,763	$ 114	$ 4,892	$ 572
Dividends on redeemable non-controlling interests	(2)	(2)	(5)	(5)
Net income attributable to participating securities	(4)	(1)	(12)	(2)
Net income (loss) attributable to ordinary shareholders - Basic	1,757	111	4,875	565
Net income (loss) attributable to ordinary shareholders - Diluted	$ 1,757	$ 111	$ 4,875	$ 565
Weighted average number of shares outstanding reconciliation [Abstract]
Basic weighted average common stock outstanding (in shares)	334	334	334	334
Effect of dilutive securities: [Abstract]
Effect of dilutive securities (in shares)	0	0	0	0
Potential dilutive shares (in shares)	334	334	334	334
Earnings (loss) per share: [Abstract]
Basic (in dollars per share)	$ 5.25	$ 0.33	$ 14.58	$ 1.69
Diluted (in dollars per share)	$ 5.25	$ 0.33	$ 14.57	$ 1.69
Discontinued operations [Member]
Earnings per share reconciliation [Abstract]
Net income (loss)	$ (1)	$ 0	$ (1)	$ 0
Dividends on redeemable non-controlling interests	0	0	0	0
Net income attributable to participating securities	0	0	0	0
Net income (loss) attributable to ordinary shareholders - Basic	(1)	0	(1)	0
Net income (loss) attributable to ordinary shareholders - Diluted	$ (1)	$ 0	$ (1)	$ 0
Weighted average number of shares outstanding reconciliation [Abstract]
Basic weighted average common stock outstanding (in shares)	334	334	334	334
Effect of dilutive securities: [Abstract]
Effect of dilutive securities (in shares)	0	0	0	0
Potential dilutive shares (in shares)	334	334	334	334
Earnings (loss) per share: [Abstract]
Basic (in dollars per share)	$ 0	$ 0	$ 0	$ 0
Diluted (in dollars per share)	$ 0	$ 0	$ 0	$ 0

Segment and Related Informati_3

Segment and Related Information (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Summarized financial information concerning reportable segments: [Abstract]
Sales and other operating revenues	$ 12,700	$ 6,776	$ 33,343	$ 19,816
Income (loss) from equity investments	104	62	389	123
LCM inventory valuation charge (benefit)		(160)	0	163
EBITDA	2,691	466	7,294	1,872
Capital expenditures	514	425	1,285	1,673
Impairment of long-lived assets	0	582	0	582
O&P - Americas [Member]
Summarized financial information concerning reportable segments: [Abstract]
Sales and other operating revenues	3,071	1,268	7,770	3,514
Income (loss) from equity investments	29	15	94	24
LCM inventory valuation charge (benefit)		(70)		3
EBITDA	1,568	474	4,011	1,088
Capital expenditures	72	130	219	524
O&P - EAI [Member]
Summarized financial information concerning reportable segments: [Abstract]
Sales and other operating revenues	3,262	1,837	9,342	5,543
Income (loss) from equity investments	66	40	263	88
LCM inventory valuation charge (benefit)		(17)		53
EBITDA	474	148	1,594	522
Capital expenditures	54	38	141	114
I&D [Member]
Summarized financial information concerning reportable segments: [Abstract]
Sales and other operating revenues	2,851	1,498	7,086	4,370
Income (loss) from equity investments	9	7	32	12
LCM inventory valuation charge (benefit)		(22)		76
EBITDA	348	267	1,126	571
Capital expenditures	327	103	717	761
APS [Member]
Summarized financial information concerning reportable segments: [Abstract]
Sales and other operating revenues	1,280	1,003	3,882	2,796
Income (loss) from equity investments	0	0	0	(1)
LCM inventory valuation charge (benefit)		(40)		29
EBITDA	121	157	385	226
Capital expenditures	20	18	55	41
Refining [Member]
Summarized financial information concerning reportable segments: [Abstract]
Sales and other operating revenues	2,050	1,003	4,784	3,193
Income (loss) from equity investments	0	0	0	0
LCM inventory valuation charge (benefit)		(11)		2
EBITDA	41	(692)	(150)	(799)
Capital expenditures	17	15	62	52
Impairment of long-lived assets		582
Impairment of property, plant and equipment		570
Impairment of intangible assets		$ 12
Fair value measurement description		The fair value measurement for the asset group is a Level 3 within the fair value hierarchy.
Technology [Member]
Summarized financial information concerning reportable segments: [Abstract]
Sales and other operating revenues	186	$ 167	479	400
Income (loss) from equity investments	0	0	0	0
LCM inventory valuation charge (benefit)		0		0
EBITDA	155	111	341	279
Capital expenditures	22	24	64	80
Other [Member]
Summarized financial information concerning reportable segments: [Abstract]
Sales and other operating revenues	0	0	0	0
Income (loss) from equity investments	0	0	0	0
LCM inventory valuation charge (benefit)		0		0
EBITDA	(16)	1	(13)	(15)
Capital expenditures	2	97	27	101
Intersegment elimination [Member]
Summarized financial information concerning reportable segments: [Abstract]
Sales and other operating revenues	0	0	0	0
Intersegment elimination [Member] | O&P - Americas [Member]
Summarized financial information concerning reportable segments: [Abstract]
Sales and other operating revenues	1,337	572	3,220	1,551
Intersegment elimination [Member] | O&P - EAI [Member]
Summarized financial information concerning reportable segments: [Abstract]
Sales and other operating revenues	196	145	618	365
Intersegment elimination [Member] | I&D [Member]
Summarized financial information concerning reportable segments: [Abstract]
Sales and other operating revenues	43	40	160	95
Intersegment elimination [Member] | APS [Member]
Summarized financial information concerning reportable segments: [Abstract]
Sales and other operating revenues	6	1	10	9
Intersegment elimination [Member] | Refining [Member]
Summarized financial information concerning reportable segments: [Abstract]
Sales and other operating revenues	238	98	575	275
Intersegment elimination [Member] | Technology [Member]
Summarized financial information concerning reportable segments: [Abstract]
Sales and other operating revenues	52	26	107	92
Intersegment elimination [Member] | Other [Member]
Summarized financial information concerning reportable segments: [Abstract]
Sales and other operating revenues	(1,872)	(882)	(4,690)	(2,387)
Operating segments [Member] | O&P - Americas [Member]
Summarized financial information concerning reportable segments: [Abstract]
Sales and other operating revenues	4,408	1,840	10,990	5,065
Operating segments [Member] | O&P - EAI [Member]
Summarized financial information concerning reportable segments: [Abstract]
Sales and other operating revenues	3,458	1,982	9,960	5,908
Operating segments [Member] | I&D [Member]
Summarized financial information concerning reportable segments: [Abstract]
Sales and other operating revenues	2,894	1,538	7,246	4,465
Operating segments [Member] | APS [Member]
Summarized financial information concerning reportable segments: [Abstract]
Sales and other operating revenues	1,286	1,004	3,892	2,805
Operating segments [Member] | Refining [Member]
Summarized financial information concerning reportable segments: [Abstract]
Sales and other operating revenues	2,288	1,101	5,359	3,468
Operating segments [Member] | Technology [Member]
Summarized financial information concerning reportable segments: [Abstract]
Sales and other operating revenues	238	193	586	492
Operating segments [Member] | Other [Member]
Summarized financial information concerning reportable segments: [Abstract]
Sales and other operating revenues	$ (1,872)	$ (882)	$ (4,690)	$ (2,387)

Segment and Related Informati_4

Segment and Related Information, Reconciliation of EBITDA to income (loss) from continuing operations before income taxes (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
EBITDA: [Abstract]
Total segment EBITDA	$ 2,707	$ 465	$ 7,307	$ 1,887
Other EBITDA	(16)	1	(13)	(15)
Less: [Abstract]
Depreciation and amortization expense	(351)	(358)	(1,016)	(1,056)
Interest expense	(126)	(122)	(366)	(336)
Add: [Abstract]
Interest income	1	3	8	10
Income (loss) from continuing operations before income taxes	$ 2,215	$ (11)	$ 5,920	$ 490