LyondellBasell Industries (LYB) 10-Q 27 Oct 23 2023 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2023	Oct. 25, 2023
Document And Entity Information [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2023
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		324,361,773
Entity Central Index Key	0001489393
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2023
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, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Sales and other operating revenues:
Sales revenue, net	$ 10,625	$ 12,250	$ 31,178	$ 40,245
Operating costs and expenses:
Cost of sales	9,177	11,088	26,909	34,491
Impairments	25	0	277	69
Selling, general and administrative expenses	378	319	1,158	976
Research and development expenses	31	31	96	95
Costs and expenses	9,611	11,438	28,440	35,631
Operating income	1,014	812	2,738	4,614
Interest expense	(125)	(70)	(356)	(202)
Interest income	37	7	88	13
Other (expense) income, net	(31)	4	(33)	(63)
Income from continuing operations before equity investments and income taxes	895	753	2,437	4,362
Income (loss) from equity investments	6	(26)	11	25
Income from continuing operations before income taxes	901	727	2,448	4,387
Provision for income taxes	153	154	508	848
Income from continuing operations	748	573	1,940	3,539
Loss from discontinued operations, net of tax	(1)	(1)	(4)	(3)
Net income	747	572	1,936	3,536
Dividends on redeemable non-controlling interests	(2)	(2)	(5)	(5)
Net income attributable to the Company shareholders	$ 745	$ 570	$ 1,931	$ 3,531
Net income (loss) attributable to the Company shareholders - Basic:
Continuing operations (in dollars per share)	$ 2.29	$ 1.75	$ 5.93	$ 10.77
Discontinued operations (in dollars per share)	0	0	(0.01)	(0.01)
Basic (in dollars per share)	2.29	1.75	5.92	10.76
Net income (loss) attributable to the Company shareholders - Diluted:
Continuing operations (in dollars per share)	2.29	1.75	5.91	10.75
Discontinued operations (in dollars per share)	0	0	(0.01)	(0.01)
Diluted (in dollars per share)	$ 2.29	$ 1.75	$ 5.90	$ 10.74
Nonrelated party [Member]
Sales and other operating revenues:
Trade	$ 10,477	$ 12,044	$ 30,702	$ 39,443
Related parties	10,477	12,044	30,702	39,443
Related party [Member]
Sales and other operating revenues:
Trade	148	206	476	802
Related parties	$ 148	$ 206	$ 476	$ 802

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Net income	$ 747	$ 572	$ 1,936	$ 3,536
Other comprehensive income (loss), net of tax –
Financial derivatives	17	23	24	213
Defined benefit pension and other postretirement benefit plans	2	51	6	134
Foreign currency translations	(86)	(169)	(58)	(355)
Total other comprehensive loss, net of tax	(67)	(95)	(28)	(8)
Comprehensive income	680	477	1,908	3,528
Dividends on redeemable non-controlling interests	(2)	(2)	(5)	(5)
Comprehensive income attributable to the Company shareholders	$ 678	$ 475	$ 1,903	$ 3,523

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Millions	Sep. 30, 2023	Dec. 31, 2022
Current assets:
Cash and cash equivalents	$ 2,833	$ 2,151
Restricted cash	11	5
Accounts receivable:
Inventories	4,911	4,804
Prepaid expenses and other current assets	1,632	1,292
Total current assets	13,228	11,845
Operating lease assets	1,509	1,725
Property, plant and equipment	24,221	23,724
Less: Accumulated depreciation	(9,027)	(8,337)
Property, plant and equipment, net	15,194	15,387
Equity investments	4,056	4,295
Goodwill	1,604	1,827
Intangible assets, net	642	662
Other assets	642	624
Total assets	36,875	36,365
Current liabilities:
Current maturities of long-term debt	781	432
Short-term debt	112	349
Accounts payable:
Accrued and other current liabilities	2,533	2,396
Total current liabilities	7,000	6,760
Long-term debt	10,213	10,540
Operating lease liabilities	1,397	1,510
Other liabilities	2,003	1,954
Deferred income taxes	2,929	2,858
Commitments and contingencies
Redeemable non-controlling interests	114	114
Shareholders’ equity:
Ordinary shares, €0.04 par value, 1,275 million shares authorized, 324,359,296 and 325,723,567 shares outstanding, respectively	19	19
Additional paid-in capital	6,130	6,119
Retained earnings	9,917	9,195
Accumulated other comprehensive loss	(1,400)	(1,372)
Treasury stock, at cost, 16,063,202 and 14,698,931 ordinary shares, respectively	(1,461)	(1,346)
Total Company share of shareholders’ equity	13,205	12,615
Non-controlling interests	14	14
Total equity	13,219	12,629
Total liabilities, redeemable non-controlling interests and equity	36,875	36,365
Nonrelated party [Member]
Accounts receivable:
Trade, net	3,704	3,392
Related parties	3,704	3,392
Accounts payable:
Trade	3,121	3,106
Related parties	3,121	3,106
Related party [Member]
Accounts receivable:
Trade, net	137	201
Related parties	137	201
Accounts payable:
Trade	453	477
Related parties	$ 453	$ 477

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parentheticals) - € / shares	Sep. 30, 2023	Dec. 31, 2022
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)	324,359,296	325,723,567
Treasury stock, shares (in shares)	16,063,202	14,698,931

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022
Cash flows from operating activities:
Net income	$ 1,936	$ 3,536
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	1,154	933
Impairments	277	69
Amortization of debt-related costs	7	11
Share-based compensation	71	54
Equity investments -
Equity income	(11)	(25)
Distributions of earnings, net of tax	109	219
Deferred income tax provision	48	83
Changes in assets and liabilities that provided (used) cash:
Accounts receivable	(282)	134
Inventories	(196)	(601)
Accounts payable	31	200
Other, net	294	(98)
Net cash provided by operating activities	3,438	4,515
Cash flows from investing activities:
Expenditures for property, plant and equipment	(1,047)	(1,417)
Proceeds from settlement of net investment hedges	612	614
Payments for settlement of net investment hedges	(550)	(501)
Other, net	(186)	(129)
Net cash used in investing activities	(1,171)	(1,433)
Cash flows from financing activities:
Repurchases of Company ordinary shares	(211)	(420)
Dividends paid - common stock	(1,204)	(2,859)
Issuance of long-term debt	500	0
Payments of debt issuance costs	(5)	0
Repayments of long-term debt	(425)	0
Net (repayments of) proceeds from commercial paper	(200)	96
Collateral received from interest rate derivatives	0	238
Other, net	0	16
Net cash used in financing activities	(1,545)	(2,929)
Effect of exchange rate changes on cash	(34)	(144)
Increase in cash and cash equivalents and restricted cash	688	9
Cash and cash equivalents and restricted cash at beginning of period	2,156	1,477
Cash and cash equivalents and restricted cash at end of period	$ 2,844	$ 1,486

Consolidated Statements of Shar

Consolidated Statements of Shareholders' Equity - USD ($) $ in Millions	Total	Ordinary Shares	Treasury Stock, Common	Additional Paid-in Capital	Retained Earnings	Accumulated Other Comprehensive Loss	Company Share of Shareholders' Equity	Non-Controlling Interests
Beginning balance at Dec. 31, 2021		$ 19	$ (965)	$ 6,044	$ 8,563	$ (1,803)	$ 11,858	$ 14
Net income	$ 3,536	0	0	0	3,536	0	3,536	0
Other comprehensive income (loss)	(8)	0	0	0	0	(8)	(8)	0
Share-based compensation		0	23	55	(3)	0	75	0
Dividends - common stock		0	0	0	(1,155)	0	(1,155)	0
Special dividends - common stock		0	0	0	(1,704)	0	(1,704)	0
Dividends - redeemable non-controlling interests	(5)	0	0	0	(5)	0	(5)	0
Repurchases of Company ordinary shares	(406)	0	(406)	0	0	0	(406)	0
Ending balance at Sep. 30, 2022		19	(1,348)	6,099	9,232	(1,811)	12,191	14
Beginning balance at Jun. 30, 2022		19	(1,200)	6,077	9,050	(1,716)	12,230	14
Net income	572	0	0	0	572	0	572	0
Other comprehensive income (loss)	(95)	0	0	0	0	(95)	(95)	0
Share-based compensation		0	2	22	7	0	31	0
Dividends - common stock		0	0	0	(395)	0	(395)	0
Dividends - redeemable non-controlling interests	(2)	0	0	0	(2)	0	(2)	0
Repurchases of Company ordinary shares		0	(150)	0	0	0	(150)	0
Ending balance at Sep. 30, 2022		19	(1,348)	6,099	9,232	(1,811)	12,191	14
Beginning balance at Dec. 31, 2022	12,629	19	(1,346)	6,119	9,195	(1,372)	12,615	14
Net income	1,936	0	0	0	1,936	0	1,936	0
Other comprehensive income (loss)	(28)	0	0	0	0	(28)	(28)	0
Share-based compensation		0	96	11	(5)	0	102	0
Dividends - common stock		0	0	0	(1,204)	0	(1,204)	0
Dividends - redeemable non-controlling interests	(5)	0	0	0	(5)	0	(5)	0
Repurchases of Company ordinary shares	(211)	0	(211)	0	0	0	(211)	0
Ending balance at Sep. 30, 2023	13,219	19	(1,461)	6,130	9,917	(1,400)	13,205	14
Beginning balance at Jun. 30, 2023		19	(1,446)	6,111	9,580	(1,333)	12,931	14
Net income	747	0	0	0	747	0	747	0
Other comprehensive income (loss)	(67)	0	0	0	0	(67)	(67)	0
Share-based compensation		0	23	19	(1)	0	41	0
Dividends - common stock		0	0	0	(407)	0	(407)	0
Dividends - redeemable non-controlling interests	(2)	0	0	0	(2)	0	(2)	0
Repurchases of Company ordinary shares		0	(38)	0	0	0	(38)	0
Ending balance at Sep. 30, 2023	$ 13,219	$ 19	$ (1,461)	$ 6,130	$ 9,917	$ (1,400)	$ 13,205	$ 14

Consolidated Statements of Sh_2

Consolidated Statements of Shareholders' Equity (Parentheticals) - $ / shares	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Statement of Stockholders' Equity [Abstract]
Common stock, dividends per share (in dollars per share)	$ 1.25	$ 1.19	$ 3.69	$ 3.51
Common stock, special dividends per share (in dollars per share)				5.20
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, 2023
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 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, 2022. 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. Effective January 1, 2023, our Catalloy and polybutene-1 businesses were moved from our Advanced Polymer Solutions segment and reintegrated into our Olefins and Polyolefins-Americas and Olefins and Polyolefins-Europe, Asia, International segments. This move allows the Advanced Polymer Solutions team to focus on our compounding and solutions business, and to develop a more agile operating model with meaningful regional and segment growth strategies. Segment information provided throughout the report has been revised for all periods presented to reflect these changes. In March 2023, we announced our new strategy, which included a strategic pillar focused on growing and upgrading our core assets. At that time, we also announced our decision to explore strategic options for our U.S. Gulf Coast-based ethylene oxide & derivatives (“EO&D”) business, which had been identified as a non-core business within our Intermediates and Derivatives segment. During the third quarter of 2023, we determined that a sale of the EO&D business is the best strategic option and approved a plan to proceed accordingly. As such, we have classified the associated assets and liabilities as held for sale as of September 30, 2023. Assets held for sale and liabilities held for sale are presented within Prepaid expenses and other current assets and Accrued and other current liabilities, respectively, in our Consolidated Balance Sheets.

Accounting and Reporting Change

Accounting and Reporting Changes	9 Months Ended
	Sep. 30, 2023
Accounting Changes and Error Corrections [Abstract]
Accounting and Reporting Changes [Text Block]	2. Accounting and Reporting Changes Recently Adopted Guidance Supplier Finance Program —In September 2022, the FASB issued ASU 2022-04, Liabilities—Supplier Finance Programs (Subtopic 405-50) : Disclosure of Supplier Finance Program Obligations . The guidance requires an entity that uses supplier finance programs in connection with the purchase of goods and services to disclose certain qualitative and quantitative information about its programs including the key terms and conditions, activity during the period, and potential magnitude. The guidance is effective retrospectively for the year ending December 31, 2023, including interim periods, with disclosures required for each period for which a balance sheet is presented, except for the disclosure of roll forward information, which is effective for fiscal years beginning after December 15, 2023. The adoption of this guidance did not have a material impact on our Consolidated Financial Statements. Accounting Guidance Issued But Not Adopted as of September 30, 2023 Fair Value Measurement —In June 2022, the FASB issued ASU 2022-03, Fair Value Measurement (Topic 820): Fair Value Measurement of Equity Securities Subject to Contractual Sale Restrictions . The guidance clarifies that a contractual restriction on the sale of an equity security is not considered part of the unit of account of the equity security because it is a characteristic of the entity holding the equity security rather than a characteristic of the security and is not considered in measuring its fair value. The guidance is effective prospectively for the year ending December 31, 2024, including the interim periods, with the impact of adoption reflected in earnings. Early adoption is permitted. The adoption of this guidance will not have a material impact on our Consolidated Financial Statements.

Revenues

Revenues	9 Months Ended
	Sep. 30, 2023
Revenue from Contract with Customer [Abstract]
Revenues [Text Block]	3. Revenues Contract Balances— Contract liabilities were $126 million and $167 million at September 30, 2023 and December 31, 2022, respectively. Revenue recognized in each reporting period that was included in the contract liability balance at the beginning of the period was immaterial. Disaggregation of Revenues— Effective January 1, 2023, our Catalloy and polybutene-1 businesses were moved from our Advanced Polymer Solutions segment and reintegrated into our Olefins and Polyolefins-Americas and Olefins and Polyolefins-Europe, Asia, International segments. See Note 12 for additional detail regarding the change in segments. Consistent with this change, we have updated the disclosure of revenue disaggregated by key products for all periods presented. The following table presents our revenues disaggregated by key products: Three Months Ended Nine Months Ended Millions of dollars 2023 2022 2023 2022 Sales and other operating revenues: Olefins and co-products $ 868 $ 1,281 $ 2,658 $ 3,835 Polyethylene 1,814 2,329 5,750 7,785 Polypropylene 1,347 1,688 4,326 6,139 Propylene oxide and derivatives 558 721 1,737 2,537 Oxyfuels and related products 1,734 1,563 4,269 4,370 Intermediate chemicals 675 917 2,187 3,228 Compounding and solutions 897 1,049 2,848 3,297 Refined products 2,510 2,506 6,860 8,467 Other 222 196 543 587 Total $ 10,625 $ 12,250 $ 31,178 $ 40,245 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 2023 2022 2023 2022 Sales and other operating revenues: United States $ 5,301 $ 5,966 $ 15,185 $ 19,465 Germany 601 822 2,006 2,892 China 526 647 1,573 1,989 Mexico 439 482 1,258 1,522 Japan 391 800 1,182 1,684 Italy 353 387 1,075 1,426 France 272 312 838 1,145 Poland 231 270 693 1,039 The Netherlands 154 261 627 995 Other 2,357 2,303 6,741 8,088 Total $ 10,625 $ 12,250 $ 31,178 $ 40,245

Accounts Receivable

Accounts Receivable	9 Months Ended
	Sep. 30, 2023
Receivables [Abstract]
Accounts Receivable [Text Block]	4. Accounts Receivable Accounts receivable are reflected in the Consolidated Balance Sheets, net of allowance for credit losses of $6 million as of September 30, 2023 and December 31, 2022.

Inventories

Inventories	9 Months Ended
	Sep. 30, 2023
Inventory Disclosure [Abstract]
Inventories [Text Block]	5. Inventories Inventories consisted of the following components: Millions of dollars September 30, December 31, Finished goods $ 3,154 $ 3,027 Work-in-process 264 227 Raw materials and supplies 1,493 1,550 Total inventories $ 4,911 $ 4,804

Debt

Debt	9 Months Ended
	Sep. 30, 2023
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, December 31, Senior Notes due 2024, $1,000 million, 5.75% ($1 million of debt issuance cost) $ 774 $ 774 Senior Notes due 2055, $1,000 million, 4.625% ($15 million of discount; $11 million of debt issuance cost) 974 974 Guaranteed Notes due 2027, $300 million, 8.1% 300 300 Issued by LYB International Finance B.V.: Guaranteed Notes due 2023, $750 million, 4.0% — 424 Guaranteed Notes due 2043, $750 million, 5.25% ($19 million of discount; $6 million of debt issuance cost) 725 725 Guaranteed Notes due 2044, $1,000 million, 4.875% ($10 million of discount; $8 million of debt issuance cost) 982 982 Issued by LYB International Finance II B.V.: Guaranteed Notes due 2026, €500 million, 0.875% ($1 million of discount; $2 million of debt issuance cost) 516 518 Guaranteed Notes due 2027, $1,000 million, 3.5% ($2 million of discount; $2 million of debt issuance cost) 580 587 Guaranteed Notes due 2031, €500 million, 1.625% ($4 million of discount; $3 million of debt issuance cost) 511 516 Issued by LYB International Finance III LLC: Guaranteed Notes due 2025, $500 million, 1.25% ($1 million of discount; $1 million of debt issuance cost) 477 475 Guaranteed Notes due 2030, $500 million, 3.375% ($1 million of debt issuance cost) 117 120 Guaranteed Notes due 2030, $500 million, 2.25% ($3 million of discount; $3 million of debt issuance cost) 467 469 Guaranteed Notes due 2033, $500 million, 5.625% ($5 million of debt issuance cost) 495 — Guaranteed Notes due 2040, $750 million, 3.375% ($2 million of discount; $7 million of debt issuance cost) 741 741 Guaranteed Notes due 2049, $1,000 million, 4.2% ($14 million of discount; $10 million of debt issuance cost) 976 976 Guaranteed Notes due 2050, $1,000 million, 4.2% ($6 million of discount; $10 million of debt issuance cost) 973 971 Guaranteed Notes due 2051, $1,000 million, 3.625% ($2 million of discount; $10 million of debt issuance cost) 884 897 Guaranteed Notes due 2060, $500 million, 3.8% ($4 million of discount; $6 million of debt issuance cost) 477 481 Other 25 42 Total 10,994 10,972 Less current maturities (781) (432) Long-term debt $ 10,213 $ 10,540 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 2023 2022 2023 2022 2023 2022 Guaranteed Notes due 2025, 1.25% $ — $ 3 $ (1) $ 12 $ 13 $ 14 Guaranteed Notes due 2026, 0.875% (1) 3 (2) 10 11 13 Guaranteed Notes due 2027, 3.5% 4 15 7 44 7 — Guaranteed Notes due 2030, 3.375% 3 8 3 24 24 21 Guaranteed Notes due 2030, 2.25% 4 7 3 23 27 24 Guaranteed Notes due 2031, 1.625% 2 7 1 10 12 11 Guaranteed Notes due 2050, 4.2% (1) 5 (2) 10 11 13 Guaranteed Notes due 2051, 3.625% 12 41 14 95 104 90 Guaranteed Notes due 2060, 3.8% 3 8 4 10 13 9 Total $ 26 $ 97 $ 27 $ 238 $ 222 $ 195 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, December 31, U.S. Receivables Facility $ — $ — Commercial paper — 200 Precious metal financings 112 131 Other — 18 Total Short-term debt $ 112 $ 349 Long-Term Debt Senior Revolving Credit Facility —Our $3,250 million senior unsecured revolving credit facility (the “Senior Revolving Credit Facility”), which expires in November 2026, may be used for dollar and euro denominated borrowings. The facility has a $200 million sub-limit for dollar and euro denominated letters of credit, a $1,000 million uncommitted accordion feature and supports our commercial paper program. In May 2023, we amended our Senior Revolving Credit Facility to update the interest rate benchmark to reference the secured overnight financing rate (“SOFR”) rather than the London Interbank Offered Rate (“LIBOR”). Borrowings under the facility bear interest at either a base rate, SOFR or EURIBOR rate, plus an applicable margin. Additional fees are incurred for the average daily unused commitments. At September 30, 2023, we had no borrowings or letters of credit outstanding and $3,250 million of unused availability under this facility. Guaranteed Notes due 2033 —In May 2023, LYB International Finance III, LLC (“LYB Finance III”), a wholly owned finance subsidiary of LyondellBasell Industries N.V., as defined in Rule 13-01 of Regulation S-X, issued $500 million of 5.625% guaranteed notes due 2033 (the “2033 Notes”) at a discounted price of 99.895%. Net proceeds from the sale of the notes totaled $495 million, after deducting underwriting discounts and offering expenses. The 2033 Notes are the first green financing instruments we have issued related to our green financing framework. Net proceeds from the sale of the 2033 Notes will be used to finance or refinance, in whole or in part, new or existing eligible green projects in the areas of circular economy, renewable energy, pollution prevention and control, and energy efficiency. Pending the full allocation of the net proceeds, any portion that has not been allocated to eligible green projects will be managed in accordance with our normal liquidity management practices. These unsecured notes, which are fully and unconditionally guaranteed by LyondellBasell Industries N.V., rank equally in right of payment to all of LYB Finance III’s and LyondellBasell Industries N.V.’s existing and future senior unsecured indebtedness and will rank senior in right of payment to any future subordinated indebtedness that LYB Finance III or LyondellBasell Industries N.V. incurs. There are no significant restrictions that would impede LyondellBasell Industries N.V., as guarantor, from obtaining funds by dividend or loan from its subsidiaries. The indenture governing these notes contains limited covenants, including those restricting our ability, and the ability of our subsidiaries, to incur indebtedness secured by significant property or by capital stock of subsidiaries that own significant property, enter into certain sale and lease-back transactions with respect to any significant property or enter into consolidations, mergers or sales of all or substantially all of our assets. The 2033 Notes may be redeemed at any time in whole, or from time to time in part, prior to the scheduled maturity date, at a redemption price equal to the greater of (i) the sum of the present values of the remaining scheduled payments of principal and interest (discounted at the treasury rate plus the applicable basis points) less interest accrued on the notes to be redeemed, and (ii) 100% of the principal amount of the notes redeemed; plus, in either case, accrued and unpaid interest thereon to, but excluding, the redemption date. The 2033 Notes may also be redeemed at any time, on or after the date that is three months prior to the scheduled maturity date of the notes at a redemption price equal to 100% of the principal amount of the notes to be redeemed plus accrued and unpaid interest thereon to, but excluding, the redemption date. The notes are also redeemable upon certain tax events. Guaranteed Notes due 2023 —In July 2023, we repaid the $425 million remaining outstanding principal of our 4.0% guaranteed notes due 2023 at maturity. Short-Term Debt U.S. Receivables Facility —Our U.S. Receivables Facility, which expires in June 2024, has a purchase limit of $900 million in addition to a $300 million uncommitted accordion feature. This facility provides liquidity through the sale or contribution of trade receivables by certain of our U.S. subsidiaries to a wholly owned, bankruptcy-remote subsidiary on an ongoing basis and without recourse. We pay variable interest rates on our secured borrowings. Additional fees are incurred for the average daily unused commitments. In May 2023, we amended our U.S. Receivables Facility to update the interest rate benchmark to reference SOFR rather than LIBOR. This facility also provides for the issuance of letters of credit up to $200 million. At September 30, 2023, 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”). At September 30, 2023, we had no borrowings of outstanding commercial paper. Weighted Average Interest Rate —At September 30, 2023 and December 31, 2022, our weighted average interest rates on outstanding Short-term debt were 2.2% and 3.7%, respectively. Additional Information Debt Compliance —As of September 30, 2023, we are in compliance with our debt covenants. Supply Chain Finance Arrangements We facilitate a voluntary supply chain finance program that provides suppliers, at their sole discretion, the opportunity to sell their receivables due from us to a participating financial intermediary in order to be paid earlier than our contracted payment terms. We are not a party to any agreement between our suppliers and the financial intermediary. When a supplier utilizes the program and receives an early payment from the financial intermediary, the supplier takes a discount on the invoice. We pay the financial intermediary the full amount of the invoice on the contractually agreed upon due date. The majority of the suppliers using the program are on 90-day payment terms. There is no economic impact to the Company from a supplier’s decision to take an early payment. No guarantees are provided by us or any of our subsidiaries under the program. As of September 30, 2023 and December 31, 2022, Accounts payable-Trade included $64 million and $53 million, respectively, payable to suppliers who have elected to participate in the supply chain financing program.

Financial Instruments and Fair

Financial Instruments and Fair Value Measurements	9 Months Ended
	Sep. 30, 2023
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. 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, 2023 December 31, 2022 Balance Sheet Classification Millions of dollars Fair Value Fair Value Assets– Derivatives designated as hedges: Commodities $ 1 $ — Prepaid expenses and other current assets Commodities 1 — Other assets Foreign currency 107 109 Prepaid expenses and other current assets Foreign currency 121 133 Other assets Interest rates 68 16 Prepaid expenses and other current assets Interest rates — 25 Other assets Derivatives not designated as hedges: Commodities 12 27 Prepaid expenses and other current assets Commodities 3 — Other assets Foreign currency 4 — Prepaid expenses and other current assets Total $ 317 $ 310 Liabilities– Derivatives designated as hedges: Commodities $ 9 $ 14 Accrued and other current liabilities Commodities 12 — Other liabilities Foreign currency 27 15 Accrued and other current liabilities Foreign currency 4 8 Other liabilities Interest rates 29 23 Accrued and other current liabilities Interest rates 251 229 Other liabilities Derivatives not designated as hedges: Commodities 51 11 Accrued and other current liabilities Commodities 4 3 Other liabilities Foreign currency 2 6 Accrued and other current liabilities Total $ 389 $ 309 The financial instruments in the table above are classified as Level 2. We present the gross assets and liabilities of our derivative financial instruments on the Consolidated Balance Sheets. Financial Instruments Not Measured at Fair Value on a Recurring Basis —The following table presents the carrying value and estimated fair value of our Short-term precious metal financings and Long-term debt: September 30, 2023 December 31, 2022 Millions of dollars Carrying Fair Carrying Fair Precious metal financings $ 112 $ 113 $ 131 $ 113 Long-term debt 10,195 8,274 10,517 8,882 Total $ 10,307 $ 8,387 $ 10,648 $ 8,995 The financial instruments in the table above are classified as Level 2. Our other financial instruments classified within Current assets and Current liabilities have a short maturity and their carrying value generally approximates fair value. Derivative Instruments: Commodity Prices —The following table presents the notional amounts of our outstanding commodity derivative instruments: September 30, 2023 December 31, 2022 Millions of units Notional Amount Notional Amount Unit of Measure Maturity Date Derivatives designated as hedges: Natural gas 68 5 MMBtu 2023 to 2026 Ethane 4 — Bbl 2024 Power 1 — MWhs 2023 to 2025 Derivatives not designated as hedges: Crude oil 14 2 Bbl 2023 to 2024 Refined products 18 2 Bbl 2023 to 2024 Precious metals 1 1 Troy Ounces 2023 to 2024 Renewable Identification Numbers 68 — RINs 2023 to 2024 Interest Rates —The following table presents the notional amounts of our outstanding interest rate derivative instruments: September 30, 2023 December 31, 2022 Millions of dollars Notional Amount Notional Amount Maturity Date Cash flow hedges $ 200 $ 400 2024 Fair value hedges 2,162 2,164 2025 to 2031 Foreign Currency Rates —The following table presents the notional amounts of our outstanding foreign currency derivative instruments: September 30, 2023 December 31, 2022 Millions of dollars Notional Amount Notional Amount Maturity Date Net investment hedges $ 3,306 $ 3,128 2023 to 2030 Cash flow hedges 1,150 1,150 2024 to 2027 Not designated 450 396 2023 to 2024 Impact on Earnings and Other Comprehensive Income —The following tables summarize the pre-tax effect of 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, Balance Sheet Income Statement Gain (Loss) Gain (Loss) Reclassified Additional Gain Income Statement Millions of dollars 2023 2022 2023 2022 2023 2022 Classification Derivatives designated as hedges: Commodities $ (24) $ 10 $ 6 $ (22) $ — $ — Cost of sales Foreign currency 83 285 (27) (67) 18 20 Interest expense Interest rates 39 29 1 1 (47) (94) Interest expense Derivatives not designated as hedges: Commodities — — — — 10 (16) Sales and other operating revenues Commodities — — — — (34) (28) Cost of sales Foreign currency — — — — 5 (15) Other expense, net Total $ 98 $ 324 $ (20) $ (88) $ (48) $ (133) Effects of Financial Instruments Nine Months Ended September 30, Balance Sheet Income Statement Gain (Loss) Gain (Loss) Reclassified Additional Gain Income Statement Millions of dollars 2023 2022 2023 2022 2023 2022 Classification Derivatives designated as hedges: Commodities $ (32) $ 40 $ 25 $ (54) $ — $ — Cost of sales Foreign currency 20 607 (13) (169) 56 51 Interest expense Interest rates 37 287 4 4 (77) (221) Interest expense Derivatives not designated as hedges: Commodities — — — — (24) 66 Sales and other operating revenues Commodities — — — — (7) (17) Cost of sales Foreign currency — — — — (19) (54) Other expense, net Total $ 25 $ 934 $ 16 $ (219) $ (71) $ (175) As of September 30, 2023, on a pre-tax basis, $5 million is scheduled to be reclassified from Accumulated other comprehensive loss as an increase to Interest expense over the next twelve months. Other Financial Instruments: Cash and Cash Equivalents —At September 30, 2023 and December 31, 2022, we had marketable securities classified as Cash and cash equivalents of $1,928 million and $1,191 million, respectively.

Income Taxes

Income Taxes	9 Months Ended
	Sep. 30, 2023
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. 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 pre-tax 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 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. We continue to monitor the Organization for Economic Cooperation and Development’s Pillar One and Two legislation which focus on taxing rights and minimum taxes in countries where we operate, including the United Kingdom. On July 11, 2023, as part of the Finance (No. 2) Act 2023, legislation was enacted in the United Kingdom which introduced an Income Inclusion Rule, known locally as the multinational top-up tax, and domestic minimum top-up tax. This legislation is applicable to periods after December 31, 2023. We continue to assess and monitor legislative changes, however, we do not expect the impact to be material based on the legislation enacted at this stage. Our effective income tax rate for the third quarter of 2023 was 17.0% compared to 21.2% for the third quarter of 2022. The lower effective tax rate for the third quarter of 2023 is primarily attributable to fluctuations in exempt income as a result of the relative impact of earnings of 5.9% coupled with changes in return to accrual adjustments and foreign exchange gains or losses of 2.9% and 0.8%, respectively. These decreases were partially offset by changes in pre-tax income in countries with varying statutory tax rates of 6.2%. Our effective income tax rate for the first nine months of 2023 was 20.8% compared to 19.3% for the first nine months of 2022. The higher effective tax rate for the first nine months of 2023 was primarily due to the first quarter 2023 goodwill impairment, for which there is no tax benefit, of 1.7% coupled with an audit settlement during the second quarter 2023 of 1.6%. These increases were partially offset by a 1.4% decrease in our effective income tax rate due to the increased relative impact of exempt income due to lower earnings.

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Sep. 30, 2023
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. Additionally, we have capital expenditure commitments, which we incur in our normal course of business. 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 difficulties 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 $119 million and $127 million as of September 30, 2023 and December 31, 2022, respectively. At September 30, 2023, the accrued liabilities for individual sites range from less than $1 million to $24 million. The remediation expenditures are expected to occur over a number of years and are 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, 2023, 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 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, 2023
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 summarizes the quarterly dividends paid in the periods presented: Millions of dollars, except per share amounts Dividend Per Aggregate Date of Record March 2023 $ 1.19 $ 389 March 6, 2023 June 2023 1.25 408 May 30, 2023 September 2023 1.25 407 August 28, 2023 $ 3.69 $ 1,204 Share Repurchase Authorization —In May 2023, our shareholders approved a proposal to authorize us to repurchase up to 34.0 million ordinary shares, through November 19, 2024 (“2023 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, 2023: 2022 Share Repurchase Authorization 1,365,898 $ 88.98 $ 122 2023 Share Repurchase Authorization 983,309 90.99 89 2,349,207 $ 89.82 $ 211 For nine months ended September 30, 2022: 2021 Share Repurchase Authorization 2,111,538 $ 97.72 $ 206 2022 Share Repurchase Authorization 2,286,216 87.50 200 4,397,754 $ 92.41 $ 406 Total cash paid for share repurchases for the nine months ended September 30, 2023 and 2022 was $211 million and $420 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 2023 2022 Ordinary shares outstanding: Beginning balance 325,723,567 329,536,389 Share-based compensation 746,727 273,943 Employee stock purchase plan 238,209 210,504 Purchase of ordinary shares (2,349,207) (4,397,754) Ending balance 324,359,296 325,623,082 Treasury Shares— The changes in the amounts of treasury shares held by the Company are as follows: Nine Months Ended 2023 2022 Ordinary shares held as treasury shares: Beginning balance 14,698,931 10,675,605 Share-based compensation (746,727) (273,943) Employee stock purchase plan (238,209) — Purchase of ordinary shares 2,349,207 4,397,754 Ending balance 16,063,202 14,799,416 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, 2023 and 2022 are presented in the following tables: Millions of dollars Financial Defined Benefit Foreign Total Balance – December 31, 2022 $ (146) $ (182) $ (1,044) $ (1,372) Other comprehensive income (loss) before reclassifications 13 — (54) (41) Tax expense before reclassifications (2) — (4) (6) Amounts reclassified from accumulated other comprehensive loss 16 8 — 24 Tax expense (3) (2) — (5) Net other comprehensive income (loss) 24 6 (58) (28) Balance – September 30, 2023 $ (122) $ (176) $ (1,102) $ (1,400) Millions of dollars Financial Defined Benefit Foreign Total Balance – December 31, 2021 $ (354) $ (528) $ (921) $ (1,803) Other comprehensive income (loss) before reclassifications 490 53 (236) 307 Tax expense before reclassifications (113) (12) (119) (244) Amounts reclassified from accumulated other comprehensive loss (219) 121 — (98) Tax (expense) benefit 55 (28) — 27 Net other comprehensive income (loss) 213 134 (355) (8) Balance – September 30, 2022 $ (141) $ (394) $ (1,276) $ (1,811) 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 2023 2022 2023 2022 Reclassification adjustments for: Financial derivatives: Commodities $ 6 $ (22) $ 25 $ (54) Cost of sales Foreign currency (27) (67) (13) (169) Interest expense Interest rates 1 1 4 4 Interest expense Income tax (expense) benefit 6 22 (3) 55 Provision for income taxes Financial derivatives, net of tax (14) (66) 13 (164) Amortization of defined pension items: Settlement loss — 6 — 100 Other expense, net Actuarial loss 3 5 6 18 Other expense, net Prior service cost — 1 2 3 Other expense, net Income tax expense (1) (2) (2) (28) Provision for income taxes Defined pension items, net of tax 2 10 6 93 Total reclassifications, before tax (17) (76) 24 (98) Income tax (expense) benefit 5 20 (5) 27 Provision for income taxes Total reclassifications, after tax $ (12) $ (56) $ 19 $ (71) 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, 2023 and December 31, 2022, we had 113,290 and 113,471 shares of redeemable non-controlling interest stock outstanding, respectively. These shares may be redeemed at any time at the discretion of the holders. In February, May and August 2023, we paid cash dividends of $15.00 per share to our redeemable non-controlling interest shareholders of record as of January 15, 2023, April 15, 2023 and July 15, 2023. Dividends totaled $5 million for each of the nine months ended September 30, 2023 and 2022.

Per Share Data

Per Share Data	9 Months Ended
	Sep. 30, 2023
Earnings Per Share [Abstract]
Per Share Data [Text Block]	11. Per Share Data Basic earnings per share is based upon the weighted average number of shares of common stock outstanding during the period. Diluted earnings per share includes the effect of certain stock option and other equity-based compensation awards. Our unvested restricted stock units contain non-forfeitable rights to dividend equivalents and are considered participating securities. We compute basic and diluted earnings per share under the two-class method. Earnings per share data is as follows: Three Months Ended September 30, 2023 2022 Millions of dollars Continuing Discontinued Continuing Discontinued Net income (loss) $ 748 $ (1) $ 573 $ (1) Dividends on redeemable non-controlling interests (2) — (2) — Net income attributable to participating securities (2) — — — Net income (loss) attributable to ordinary shareholders – basic and diluted $ 744 $ (1) $ 571 $ (1) Millions of shares, except per share amounts Basic weighted average common stock outstanding 324 324 326 326 Effect of dilutive securities 1 1 1 1 Potential dilutive shares 325 325 327 327 Earnings per share: Basic $ 2.29 $ — $ 1.75 $ — Diluted $ 2.29 $ — $ 1.75 $ — Nine Months Ended September 30, 2023 2022 Millions of dollars Continuing Discontinued Continuing Discontinued Net income (loss) $ 1,940 $ (4) $ 3,539 $ (3) Dividends on redeemable non-controlling interests (5) — (5) — Net income attributable to participating securities (7) — (9) — Net income (loss) attributable to ordinary shareholders – basic and diluted $ 1,928 $ (4) $ 3,525 $ (3) Millions of shares, except per share amounts Basic weighted average common stock outstanding 325 325 327 327 Effect of dilutive securities 1 1 1 1 Potential dilutive shares 326 326 328 328 Earnings per share: Basic $ 5.93 $ (0.01) $ 10.77 $ (0.01) Diluted $ 5.91 $ (0.01) $ 10.75 $ (0.01)

Segment and Related Information

Segment and Related Information	9 Months Ended
	Sep. 30, 2023
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. • Refining . Our Refining segment refines heavy, high-sulfur crude oils and other crude oils of varied types and sources available on the U.S. Gulf Coast into refined products, including gasoline and 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 from continuing operations 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 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, 2023 Millions of dollars O&P– O&P– I&D APS Refining Technology Other Total Sales and other operating revenues: Customers $ 1,717 $ 2,324 $ 2,985 $ 897 $ 2,510 $ 192 $ — $ 10,625 Intersegment 1,164 122 96 2 155 26 (1,565) — 2,881 2,446 3,081 899 2,665 218 (1,565) 10,625 Income (loss) from equity investments 6 (3) 3 — — — — 6 EBITDA 479 (45) 708 18 76 146 (26) 1,356 Capital expenditures 156 67 120 18 10 18 5 394 Three Months Ended September 30, 2022 Millions of dollars O&P– O&P– I&D APS Refining Technology Other Total Sales and other operating revenues: Customers $ 2,413 $ 2,899 $ 3,229 $ 1,049 $ 2,506 $ 154 $ — $ 12,250 Intersegment 1,277 210 54 — 246 19 (1,806) — 3,690 3,109 3,283 1,049 2,752 173 (1,806) 12,250 Income (loss) from equity investments 19 (39) (6) — — — — (26) EBITDA 588 (74) 360 28 106 92 8 1,108 Capital expenditures 70 52 245 19 22 25 6 439 Nine Months Ended September 30, 2023 Millions of dollars O&P- O&P- I&D APS Refining Technology Other Total Sales and other operating revenues: Customers $ 5,200 $ 7,569 $ 8,255 $ 2,848 $ 6,860 $ 446 $ — $ 31,178 Intersegment 3,216 498 170 8 454 65 (4,411) — 8,416 8,067 8,425 2,856 7,314 511 (4,411) 31,178 Income (loss) from equity investments 41 (21) (8) (1) — — — 11 EBITDA 1,699 116 1,606 (174) 369 298 (44) 3,870 Capital expenditures 340 186 403 49 12 50 7 1,047 Nine Months Ended September 30, 2022 Millions of dollars O&P– O&P– I&D APS Refining Technology Other Total Sales and other operating revenues: Customers $ 7,576 $ 10,221 $ 10,219 $ 3,297 $ 8,467 $ 465 $ — $ 40,245 Intersegment 4,086 711 169 4 793 83 (5,846) — 11,662 10,932 10,388 3,301 9,260 548 (5,846) 40,245 Income (loss) from equity investments 81 (39) (17) — — — — 25 EBITDA 2,481 326 1,581 141 672 307 1 5,509 Capital expenditures 312 250 673 43 48 81 10 1,417 The following assets are summarized and reconciled to consolidated totals in the following table: Millions of dollars O&P- O&P- I&D APS Refining Technology Total September 30, 2023 Property, plant and equipment, net $ 6,370 $ 1,983 $ 5,615 $ 596 $ 140 $ 490 $ 15,194 Equity investments 2,012 1,513 529 2 — — 4,056 December 31, 2022 Property, plant and equipment, net $ 6,378 $ 1,880 $ 5,728 $ 636 $ 255 $ 510 $ 15,387 Equity investments 2,053 1,655 585 2 — — 4,295 Segment Structure Changes and Related Goodwill Impairment— Effective January 1, 2023, our Catalloy and polybutene-1 businesses were moved from our APS segment and reintegrated into our O&P-Americas and O&P-EAI segments. Accordingly, on January 1, 2023, we allocated goodwill from our APS segment to our O&P-Americas and O&P-EAI segments of $315 million and $269 million, respectively, based on the relative fair values of the businesses that were reintegrated compared to the fair value of the APS segment. As of December 31, 2022, goodwill included in our APS reporting unit was $1,370 million, the majority of which related to the 2018 acquisition of A. Schulman. As of December 31, 2022, a large portion of the APS reporting unit’s fair value was derived from our Catalloy and polybutene-1 businesses, which had disproportionately low carrying values in comparison to the remaining assets of the reporting unit, which had relatively higher carrying values due to the 2018 purchase price allocation associated with the acquisition of A. Schulman. As a result of the reallocation of goodwill and the change in both fair value and carrying value among reporting units, we recognized a non-cash goodwill impairment charge of $252 million in the first quarter of 2023 in our APS segment. Fair values were determined utilizing a discounted cash flow method under the income approach and assumptions including management’s view on long-term growth rates in our industry, discount rates and other assumptions based on a market participant perspective, which are inherently subjective. The fair value of the reporting unit is Level 3 within the fair value hierarchy. The charge is reflected as Impairments in our Consolidated Statements of Income. Exit of Houston Refinery Operations— In April 2022 we announced our decision to cease operation of our Houston refinery no later than the end of 2023 after determining that exiting the refining business is our best strategic and financial path forward. In May 2023 we announced our decision to extend the operations of our Houston refinery to no later than the end of the first quarter of 2025. Favorable inspections and consistent performance have given us confidence to continue safe and reliable operations. The extension will minimize workforce impacts as we continue to develop future options for the site and will enable a smoother transition between the shutdown and the implementation of the retrofitting and circular projects. Costs incurred for the planned exit from the refinery business are as follows: Three Months Ended September 30, Nine Months Ended September 30, Millions of dollars 2023 2022 2023 2022 Accelerated lease amortization costs $ 11 $ 36 $ 100 $ 36 Personnel costs 16 48 59 48 Asset retirement obligation accretion 2 — 6 — Asset retirement cost depreciation 20 8 119 8 Refinery exit costs $ 49 $ 92 $ 284 $ 92 In subsequent periods, we expect to incur additional costs primarily consisting of accelerated amortization of operating lease assets of $10 million to $70 million, personnel costs of $35 million to $110 million and other charges of $50 million to $100 million. Additionally, we estimate that the Houston refinery’s asset retirement obligations are in the range of $150 million to $450 million. As of September 30, 2023, we recorded asset retirement obligations of $257 million representing our best estimate. We do not anticipate any material cash payments related to the exit of the refinery business to be made in 2023. Disposal of Australia Facility— In the second quarter of 2022 we sold our ownership interest in our polypropylene manufacturing facility located in Geelong, Australia, LyondellBasell Australia (Holdings) Pty Ltd, for consideration of $38 million. In connection with this sale, we assessed the net assets of the disposal group for impairment and determined that the carrying value exceeded the fair value less costs to sell. As a result, we recognized a non-cash impairment charge in the second quarter of 2022 of $69 million in the operating results of our O&P-EAI segment. The fair value measurement for the disposal group is based on expected consideration and classified as Level 3 within the fair value hierarchy. The charge is reflected as Impairments in our Consolidated Statements of Income. A reconciliation of EBITDA to Income from continuing operations before income taxes is shown in the following table for each of the periods presented: Three Months Ended Nine Months Ended Millions of dollars 2023 2022 2023 2022 EBITDA: Total segment EBITDA $ 1,382 $ 1,100 $ 3,914 $ 5,508 Other EBITDA (26) 8 (44) 1 Less: Depreciation and amortization expense (367) (318) (1,154) (933) Interest expense (125) (70) (356) (202) Add: Interest income 37 7 88 13 Income from continuing operations before income taxes $ 901 $ 727 $ 2,448 $ 4,387

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Sep. 30, 2023
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Revenues (Tables)

Revenues (Tables)	9 Months Ended
	Sep. 30, 2023
Revenue from Contract with Customer [Abstract]
Disaggregation of revenue [Table Text Block]	Disaggregation of Revenues— Effective January 1, 2023, our Catalloy and polybutene-1 businesses were moved from our Advanced Polymer Solutions segment and reintegrated into our Olefins and Polyolefins-Americas and Olefins and Polyolefins-Europe, Asia, International segments. See Note 12 for additional detail regarding the change in segments. Consistent with this change, we have updated the disclosure of revenue disaggregated by key products for all periods presented. The following table presents our revenues disaggregated by key products: Three Months Ended Nine Months Ended Millions of dollars 2023 2022 2023 2022 Sales and other operating revenues: Olefins and co-products $ 868 $ 1,281 $ 2,658 $ 3,835 Polyethylene 1,814 2,329 5,750 7,785 Polypropylene 1,347 1,688 4,326 6,139 Propylene oxide and derivatives 558 721 1,737 2,537 Oxyfuels and related products 1,734 1,563 4,269 4,370 Intermediate chemicals 675 917 2,187 3,228 Compounding and solutions 897 1,049 2,848 3,297 Refined products 2,510 2,506 6,860 8,467 Other 222 196 543 587 Total $ 10,625 $ 12,250 $ 31,178 $ 40,245 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 2023 2022 2023 2022 Sales and other operating revenues: United States $ 5,301 $ 5,966 $ 15,185 $ 19,465 Germany 601 822 2,006 2,892 China 526 647 1,573 1,989 Mexico 439 482 1,258 1,522 Japan 391 800 1,182 1,684 Italy 353 387 1,075 1,426 France 272 312 838 1,145 Poland 231 270 693 1,039 The Netherlands 154 261 627 995 Other 2,357 2,303 6,741 8,088 Total $ 10,625 $ 12,250 $ 31,178 $ 40,245

Inventories (Tables)

Inventories (Tables)	9 Months Ended
	Sep. 30, 2023
Inventory Disclosure [Abstract]
Schedule of inventory [Table Text Block]	Inventories consisted of the following components: Millions of dollars September 30, December 31, Finished goods $ 3,154 $ 3,027 Work-in-process 264 227 Raw materials and supplies 1,493 1,550 Total inventories $ 4,911 $ 4,804

Debt (Tables)

Debt (Tables)	9 Months Ended
	Sep. 30, 2023
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, December 31, Senior Notes due 2024, $1,000 million, 5.75% ($1 million of debt issuance cost) $ 774 $ 774 Senior Notes due 2055, $1,000 million, 4.625% ($15 million of discount; $11 million of debt issuance cost) 974 974 Guaranteed Notes due 2027, $300 million, 8.1% 300 300 Issued by LYB International Finance B.V.: Guaranteed Notes due 2023, $750 million, 4.0% — 424 Guaranteed Notes due 2043, $750 million, 5.25% ($19 million of discount; $6 million of debt issuance cost) 725 725 Guaranteed Notes due 2044, $1,000 million, 4.875% ($10 million of discount; $8 million of debt issuance cost) 982 982 Issued by LYB International Finance II B.V.: Guaranteed Notes due 2026, €500 million, 0.875% ($1 million of discount; $2 million of debt issuance cost) 516 518 Guaranteed Notes due 2027, $1,000 million, 3.5% ($2 million of discount; $2 million of debt issuance cost) 580 587 Guaranteed Notes due 2031, €500 million, 1.625% ($4 million of discount; $3 million of debt issuance cost) 511 516 Issued by LYB International Finance III LLC: Guaranteed Notes due 2025, $500 million, 1.25% ($1 million of discount; $1 million of debt issuance cost) 477 475 Guaranteed Notes due 2030, $500 million, 3.375% ($1 million of debt issuance cost) 117 120 Guaranteed Notes due 2030, $500 million, 2.25% ($3 million of discount; $3 million of debt issuance cost) 467 469 Guaranteed Notes due 2033, $500 million, 5.625% ($5 million of debt issuance cost) 495 — Guaranteed Notes due 2040, $750 million, 3.375% ($2 million of discount; $7 million of debt issuance cost) 741 741 Guaranteed Notes due 2049, $1,000 million, 4.2% ($14 million of discount; $10 million of debt issuance cost) 976 976 Guaranteed Notes due 2050, $1,000 million, 4.2% ($6 million of discount; $10 million of debt issuance cost) 973 971 Guaranteed Notes due 2051, $1,000 million, 3.625% ($2 million of discount; $10 million of debt issuance cost) 884 897 Guaranteed Notes due 2060, $500 million, 3.8% ($4 million of discount; $6 million of debt issuance cost) 477 481 Other 25 42 Total 10,994 10,972 Less current maturities (781) (432) Long-term debt $ 10,213 $ 10,540 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 2023 2022 2023 2022 2023 2022 Guaranteed Notes due 2025, 1.25% $ — $ 3 $ (1) $ 12 $ 13 $ 14 Guaranteed Notes due 2026, 0.875% (1) 3 (2) 10 11 13 Guaranteed Notes due 2027, 3.5% 4 15 7 44 7 — Guaranteed Notes due 2030, 3.375% 3 8 3 24 24 21 Guaranteed Notes due 2030, 2.25% 4 7 3 23 27 24 Guaranteed Notes due 2031, 1.625% 2 7 1 10 12 11 Guaranteed Notes due 2050, 4.2% (1) 5 (2) 10 11 13 Guaranteed Notes due 2051, 3.625% 12 41 14 95 104 90 Guaranteed Notes due 2060, 3.8% 3 8 4 10 13 9 Total $ 26 $ 97 $ 27 $ 238 $ 222 $ 195 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, December 31, U.S. Receivables Facility $ — $ — Commercial paper — 200 Precious metal financings 112 131 Other — 18 Total Short-term debt $ 112 $ 349

Financial Instruments and Fai_2

Financial Instruments and Fair Value Measurements (Tables)	9 Months Ended
	Sep. 30, 2023
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, 2023 December 31, 2022 Balance Sheet Classification Millions of dollars Fair Value Fair Value Assets– Derivatives designated as hedges: Commodities $ 1 $ — Prepaid expenses and other current assets Commodities 1 — Other assets Foreign currency 107 109 Prepaid expenses and other current assets Foreign currency 121 133 Other assets Interest rates 68 16 Prepaid expenses and other current assets Interest rates — 25 Other assets Derivatives not designated as hedges: Commodities 12 27 Prepaid expenses and other current assets Commodities 3 — Other assets Foreign currency 4 — Prepaid expenses and other current assets Total $ 317 $ 310 Liabilities– Derivatives designated as hedges: Commodities $ 9 $ 14 Accrued and other current liabilities Commodities 12 — Other liabilities Foreign currency 27 15 Accrued and other current liabilities Foreign currency 4 8 Other liabilities Interest rates 29 23 Accrued and other current liabilities Interest rates 251 229 Other liabilities Derivatives not designated as hedges: Commodities 51 11 Accrued and other current liabilities Commodities 4 3 Other liabilities Foreign currency 2 6 Accrued and other current liabilities Total $ 389 $ 309 The financial instruments in the table above 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 Short-term precious metal financings and Long-term debt: September 30, 2023 December 31, 2022 Millions of dollars Carrying Fair Carrying Fair Precious metal financings $ 112 $ 113 $ 131 $ 113 Long-term debt 10,195 8,274 10,517 8,882 Total $ 10,307 $ 8,387 $ 10,648 $ 8,995 The financial instruments in the table above are classified as Level 2. Our other financial instruments classified within Current assets and Current liabilities have a short maturity and their carrying value generally approximates fair value.
Summary of commodity derivatives [Table Text Block]	Commodity Prices —The following table presents the notional amounts of our outstanding commodity derivative instruments: September 30, 2023 December 31, 2022 Millions of units Notional Amount Notional Amount Unit of Measure Maturity Date Derivatives designated as hedges: Natural gas 68 5 MMBtu 2023 to 2026 Ethane 4 — Bbl 2024 Power 1 — MWhs 2023 to 2025 Derivatives not designated as hedges: Crude oil 14 2 Bbl 2023 to 2024 Refined products 18 2 Bbl 2023 to 2024 Precious metals 1 1 Troy Ounces 2023 to 2024 Renewable Identification Numbers 68 — RINs 2023 to 2024
Summary of interest rate derivatives [Table Text Block]	Interest Rates —The following table presents the notional amounts of our outstanding interest rate derivative instruments: September 30, 2023 December 31, 2022 Millions of dollars Notional Amount Notional Amount Maturity Date Cash flow hedges $ 200 $ 400 2024 Fair value hedges 2,162 2,164 2025 to 2031
Summary of foreign currency hedges [Table Text Block]	Foreign Currency Rates —The following table presents the notional amounts of our outstanding foreign currency derivative instruments: September 30, 2023 December 31, 2022 Millions of dollars Notional Amount Notional Amount Maturity Date Net investment hedges $ 3,306 $ 3,128 2023 to 2030 Cash flow hedges 1,150 1,150 2024 to 2027 Not designated 450 396 2023 to 2024
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 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, Balance Sheet Income Statement Gain (Loss) Gain (Loss) Reclassified Additional Gain Income Statement Millions of dollars 2023 2022 2023 2022 2023 2022 Classification Derivatives designated as hedges: Commodities $ (24) $ 10 $ 6 $ (22) $ — $ — Cost of sales Foreign currency 83 285 (27) (67) 18 20 Interest expense Interest rates 39 29 1 1 (47) (94) Interest expense Derivatives not designated as hedges: Commodities — — — — 10 (16) Sales and other operating revenues Commodities — — — — (34) (28) Cost of sales Foreign currency — — — — 5 (15) Other expense, net Total $ 98 $ 324 $ (20) $ (88) $ (48) $ (133) Effects of Financial Instruments Nine Months Ended September 30, Balance Sheet Income Statement Gain (Loss) Gain (Loss) Reclassified Additional Gain Income Statement Millions of dollars 2023 2022 2023 2022 2023 2022 Classification Derivatives designated as hedges: Commodities $ (32) $ 40 $ 25 $ (54) $ — $ — Cost of sales Foreign currency 20 607 (13) (169) 56 51 Interest expense Interest rates 37 287 4 4 (77) (221) Interest expense Derivatives not designated as hedges: Commodities — — — — (24) 66 Sales and other operating revenues Commodities — — — — (7) (17) Cost of sales Foreign currency — — — — (19) (54) Other expense, net Total $ 25 $ 934 $ 16 $ (219) $ (71) $ (175)

Shareholders' Equity and Rede_2

Shareholders' Equity and Redeemable Non-controlling Interests, Shareholders' Equity (Tables)	9 Months Ended
	Sep. 30, 2023
Shareholders Equity and Redeemable Non-controlling Interests Abstract [Abstract]
Dividend distributions [Table Text Block]	Dividend Distributions —The following table summarizes the quarterly dividends paid in the periods presented: Millions of dollars, except per share amounts Dividend Per Aggregate Date of Record March 2023 $ 1.19 $ 389 March 6, 2023 June 2023 1.25 408 May 30, 2023 September 2023 1.25 407 August 28, 2023 $ 3.69 $ 1,204
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, 2023: 2022 Share Repurchase Authorization 1,365,898 $ 88.98 $ 122 2023 Share Repurchase Authorization 983,309 90.99 89 2,349,207 $ 89.82 $ 211 For nine months ended September 30, 2022: 2021 Share Repurchase Authorization 2,111,538 $ 97.72 $ 206 2022 Share Repurchase Authorization 2,286,216 87.50 200 4,397,754 $ 92.41 $ 406
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 2023 2022 Ordinary shares outstanding: Beginning balance 325,723,567 329,536,389 Share-based compensation 746,727 273,943 Employee stock purchase plan 238,209 210,504 Purchase of ordinary shares (2,349,207) (4,397,754) Ending balance 324,359,296 325,623,082 Treasury Shares— The changes in the amounts of treasury shares held by the Company are as follows: Nine Months Ended 2023 2022 Ordinary shares held as treasury shares: Beginning balance 14,698,931 10,675,605 Share-based compensation (746,727) (273,943) Employee stock purchase plan (238,209) — Purchase of ordinary shares 2,349,207 4,397,754 Ending balance 16,063,202 14,799,416
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, 2023 and 2022 are presented in the following tables: Millions of dollars Financial Defined Benefit Foreign Total Balance – December 31, 2022 $ (146) $ (182) $ (1,044) $ (1,372) Other comprehensive income (loss) before reclassifications 13 — (54) (41) Tax expense before reclassifications (2) — (4) (6) Amounts reclassified from accumulated other comprehensive loss 16 8 — 24 Tax expense (3) (2) — (5) Net other comprehensive income (loss) 24 6 (58) (28) Balance – September 30, 2023 $ (122) $ (176) $ (1,102) $ (1,400) Millions of dollars Financial Defined Benefit Foreign Total Balance – December 31, 2021 $ (354) $ (528) $ (921) $ (1,803) Other comprehensive income (loss) before reclassifications 490 53 (236) 307 Tax expense before reclassifications (113) (12) (119) (244) Amounts reclassified from accumulated other comprehensive loss (219) 121 — (98) Tax (expense) benefit 55 (28) — 27 Net other comprehensive income (loss) 213 134 (355) (8) Balance – September 30, 2022 $ (141) $ (394) $ (1,276) $ (1,811)
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 2023 2022 2023 2022 Reclassification adjustments for: Financial derivatives: Commodities $ 6 $ (22) $ 25 $ (54) Cost of sales Foreign currency (27) (67) (13) (169) Interest expense Interest rates 1 1 4 4 Interest expense Income tax (expense) benefit 6 22 (3) 55 Provision for income taxes Financial derivatives, net of tax (14) (66) 13 (164) Amortization of defined pension items: Settlement loss — 6 — 100 Other expense, net Actuarial loss 3 5 6 18 Other expense, net Prior service cost — 1 2 3 Other expense, net Income tax expense (1) (2) (2) (28) Provision for income taxes Defined pension items, net of tax 2 10 6 93 Total reclassifications, before tax (17) (76) 24 (98) Income tax (expense) benefit 5 20 (5) 27 Provision for income taxes Total reclassifications, after tax $ (12) $ (56) $ 19 $ (71) Amount included in net income

Per Share Data (Tables)

Per Share Data (Tables)	9 Months Ended
	Sep. 30, 2023
Earnings Per Share [Abstract]
Schedule of earnings per share, basic and diluted [Table Text Block]	Earnings per share data is as follows: Three Months Ended September 30, 2023 2022 Millions of dollars Continuing Discontinued Continuing Discontinued Net income (loss) $ 748 $ (1) $ 573 $ (1) Dividends on redeemable non-controlling interests (2) — (2) — Net income attributable to participating securities (2) — — — Net income (loss) attributable to ordinary shareholders – basic and diluted $ 744 $ (1) $ 571 $ (1) Millions of shares, except per share amounts Basic weighted average common stock outstanding 324 324 326 326 Effect of dilutive securities 1 1 1 1 Potential dilutive shares 325 325 327 327 Earnings per share: Basic $ 2.29 $ — $ 1.75 $ — Diluted $ 2.29 $ — $ 1.75 $ — Nine Months Ended September 30, 2023 2022 Millions of dollars Continuing Discontinued Continuing Discontinued Net income (loss) $ 1,940 $ (4) $ 3,539 $ (3) Dividends on redeemable non-controlling interests (5) — (5) — Net income attributable to participating securities (7) — (9) — Net income (loss) attributable to ordinary shareholders – basic and diluted $ 1,928 $ (4) $ 3,525 $ (3) Millions of shares, except per share amounts Basic weighted average common stock outstanding 325 325 327 327 Effect of dilutive securities 1 1 1 1 Potential dilutive shares 326 326 328 328 Earnings per share: Basic $ 5.93 $ (0.01) $ 10.77 $ (0.01) Diluted $ 5.91 $ (0.01) $ 10.75 $ (0.01)

Segment and Related Informati_2

Segment and Related Information (Tables)	9 Months Ended
	Sep. 30, 2023
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, 2023 Millions of dollars O&P– O&P– I&D APS Refining Technology Other Total Sales and other operating revenues: Customers $ 1,717 $ 2,324 $ 2,985 $ 897 $ 2,510 $ 192 $ — $ 10,625 Intersegment 1,164 122 96 2 155 26 (1,565) — 2,881 2,446 3,081 899 2,665 218 (1,565) 10,625 Income (loss) from equity investments 6 (3) 3 — — — — 6 EBITDA 479 (45) 708 18 76 146 (26) 1,356 Capital expenditures 156 67 120 18 10 18 5 394 Three Months Ended September 30, 2022 Millions of dollars O&P– O&P– I&D APS Refining Technology Other Total Sales and other operating revenues: Customers $ 2,413 $ 2,899 $ 3,229 $ 1,049 $ 2,506 $ 154 $ — $ 12,250 Intersegment 1,277 210 54 — 246 19 (1,806) — 3,690 3,109 3,283 1,049 2,752 173 (1,806) 12,250 Income (loss) from equity investments 19 (39) (6) — — — — (26) EBITDA 588 (74) 360 28 106 92 8 1,108 Capital expenditures 70 52 245 19 22 25 6 439 Nine Months Ended September 30, 2023 Millions of dollars O&P- O&P- I&D APS Refining Technology Other Total Sales and other operating revenues: Customers $ 5,200 $ 7,569 $ 8,255 $ 2,848 $ 6,860 $ 446 $ — $ 31,178 Intersegment 3,216 498 170 8 454 65 (4,411) — 8,416 8,067 8,425 2,856 7,314 511 (4,411) 31,178 Income (loss) from equity investments 41 (21) (8) (1) — — — 11 EBITDA 1,699 116 1,606 (174) 369 298 (44) 3,870 Capital expenditures 340 186 403 49 12 50 7 1,047 Nine Months Ended September 30, 2022 Millions of dollars O&P– O&P– I&D APS Refining Technology Other Total Sales and other operating revenues: Customers $ 7,576 $ 10,221 $ 10,219 $ 3,297 $ 8,467 $ 465 $ — $ 40,245 Intersegment 4,086 711 169 4 793 83 (5,846) — 11,662 10,932 10,388 3,301 9,260 548 (5,846) 40,245 Income (loss) from equity investments 81 (39) (17) — — — — 25 EBITDA 2,481 326 1,581 141 672 307 1 5,509 Capital expenditures 312 250 673 43 48 81 10 1,417
Reconciliation of segment assets [Table Text Block]	The following assets are summarized and reconciled to consolidated totals in the following table: Millions of dollars O&P- O&P- I&D APS Refining Technology Total September 30, 2023 Property, plant and equipment, net $ 6,370 $ 1,983 $ 5,615 $ 596 $ 140 $ 490 $ 15,194 Equity investments 2,012 1,513 529 2 — — 4,056 December 31, 2022 Property, plant and equipment, net $ 6,378 $ 1,880 $ 5,728 $ 636 $ 255 $ 510 $ 15,387 Equity investments 2,053 1,655 585 2 — — 4,295
Refinery planned exit costs [Table Text Block]	Costs incurred for the planned exit from the refinery business are as follows: Three Months Ended September 30, Nine Months Ended September 30, Millions of dollars 2023 2022 2023 2022 Accelerated lease amortization costs $ 11 $ 36 $ 100 $ 36 Personnel costs 16 48 59 48 Asset retirement obligation accretion 2 — 6 — Asset retirement cost depreciation 20 8 119 8 Refinery exit costs $ 49 $ 92 $ 284 $ 92
Reconciliation of EBITDA to income (loss) from continuing operations before income taxes [Table Text Block]	A reconciliation of EBITDA to Income from continuing operations before income taxes is shown in the following table for each of the periods presented: Three Months Ended Nine Months Ended Millions of dollars 2023 2022 2023 2022 EBITDA: Total segment EBITDA $ 1,382 $ 1,100 $ 3,914 $ 5,508 Other EBITDA (26) 8 (44) 1 Less: Depreciation and amortization expense (367) (318) (1,154) (933) Interest expense (125) (70) (356) (202) Add: Interest income 37 7 88 13 Income from continuing operations before income taxes $ 901 $ 727 $ 2,448 $ 4,387

Revenues (Details)

Revenues (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Dec. 31, 2022
Contract with customer, liability [Abstract]
Contract with customer liability	$ 126		$ 167
Revenue recognized included in beginning contract liability	Revenue recognized in each reporting period that was included in the contract liability balance at the beginning of the period was immaterial.	Revenue recognized in each reporting period that was 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, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Disaggregation of revenue [Abstract]
Sales and other operating revenues	$ 10,625	$ 12,250	$ 31,178	$ 40,245
Olefins & co-products [Member]
Disaggregation of revenue [Abstract]
Sales and other operating revenues	868	1,281	2,658	3,835
Polyethylene [Member]
Disaggregation of revenue [Abstract]
Sales and other operating revenues	1,814	2,329	5,750	7,785
Polypropylene [Member]
Disaggregation of revenue [Abstract]
Sales and other operating revenues	1,347	1,688	4,326	6,139
Propylene oxide and derivatives [Member]
Disaggregation of revenue [Abstract]
Sales and other operating revenues	558	721	1,737	2,537
Oxyfuels and related products [Member]
Disaggregation of revenue [Abstract]
Sales and other operating revenues	1,734	1,563	4,269	4,370
Intermediate chemicals [Member]
Disaggregation of revenue [Abstract]
Sales and other operating revenues	675	917	2,187	3,228
Compounding and solutions [Member]
Disaggregation of revenue [Abstract]
Sales and other operating revenues	897	1,049	2,848	3,297
Refined products [Member]
Disaggregation of revenue [Abstract]
Sales and other operating revenues	2,510	2,506	6,860	8,467
Other [Member]
Disaggregation of revenue [Abstract]
Sales and other operating revenues	$ 222	$ 196	$ 543	$ 587

Revenues, Geographic locations

Revenues, Geographic locations (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Disaggregation of revenue [Abstract]
Sales and other operating revenues	$ 10,625	$ 12,250	$ 31,178	$ 40,245
U. S. [Member]
Disaggregation of revenue [Abstract]
Sales and other operating revenues	5,301	5,966	15,185	19,465
Germany [Member]
Disaggregation of revenue [Abstract]
Sales and other operating revenues	601	822	2,006	2,892
China [Member]
Disaggregation of revenue [Abstract]
Sales and other operating revenues	526	647	1,573	1,989
Mexico [Member]
Disaggregation of revenue [Abstract]
Sales and other operating revenues	439	482	1,258	1,522
Japan [Member]
Disaggregation of revenue [Abstract]
Sales and other operating revenues	391	800	1,182	1,684
Italy [Member]
Disaggregation of revenue [Abstract]
Sales and other operating revenues	353	387	1,075	1,426
France [Member]
Disaggregation of revenue [Abstract]
Sales and other operating revenues	272	312	838	1,145
Poland [Member]
Disaggregation of revenue [Abstract]
Sales and other operating revenues	231	270	693	1,039
The Netherlands [Member]
Disaggregation of revenue [Abstract]
Sales and other operating revenues	154	261	627	995
Other [Member]
Disaggregation of revenue [Abstract]
Sales and other operating revenues	$ 2,357	$ 2,303	$ 6,741	$ 8,088

Accounts Receivable (Details)

Accounts Receivable (Details) - USD ($) $ in Millions	Sep. 30, 2023	Dec. 31, 2022
Receivables [Abstract]
Allowance for credit losses, receivables	$ 6	$ 6

Inventories (Details)

Inventories (Details) - USD ($) $ in Millions	Sep. 30, 2023	Dec. 31, 2022
Inventory, finished goods, work-in-process, and raw materials and supplies [Abstract]
Finished goods	$ 3,154	$ 3,027
Work-in-process	264	227
Raw materials and supplies	1,493	1,550
Total inventories	$ 4,911	$ 4,804

Debt, Long-term debt (Details)

Debt, Long-term debt (Details) € in Millions, $ in Millions	1 Months Ended		9 Months Ended
	Jul. 31, 2023	May 31, 2023 USD ($)	Sep. 30, 2023 USD ($)	Sep. 30, 2023 EUR (€)	Dec. 31, 2022 USD ($)
Long-term debt [Line Items]
Long-term debt			$ 10,994		$ 10,972
Current maturities of long-term debt			(781)		(432)
Long-term debt, non-current portion			$ 10,213		10,540
Senior Notes due 2024, $1,000 million, 5.75% ($1 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			$ 1
Long-term debt			$ 774		774
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
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 2023, $750 million, 4.0%
Long-term debt [Line Items]
Maturity year	2023
Stated interest rate (in hundredths)	4%
Guaranteed Notes due 2023, $750 million, 4.0% | Subsidiary Issuer, LYB International Finance B.V.
Long-term debt [Line Items]
Maturity year			2023
Face amount			$ 750
Stated interest rate (in hundredths)			4%	4%
Long-term debt			$ 0		424
Guaranteed Notes due 2043, $750 million, 5.25% ($19 million of discount; $6 million of debt issuance cost) | Subsidiary Issuer, LYB International Finance B.V.
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			6
Long-term debt			$ 725		725
Guaranteed Notes due 2044, $1,000 million, 4.875% ($10 million of discount; $8 million of debt issuance cost) | Subsidiary Issuer, LYB International Finance B.V.
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			8
Long-term debt			$ 982		982
Guaranteed Notes due 2026, €500 million, 0.875% ($1 million of discount; $2 million of debt issuance cost) | Subsidiary Issuer, LYB International Finance II B.V.
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			2
Long-term debt			$ 516		518
Guaranteed Notes due 2027, $1,000 million, 3.5% ($2 million of discount; $2 million of debt issuance cost) | Subsidiary Issuer, LYB International Finance II B.V.
Long-term debt [Line Items]
Maturity year			2027
Face amount			$ 1,000
Stated interest rate (in hundredths)			3.50%	3.50%
Unamortized discount			$ 2
Unamortized debt issuance cost			2
Long-term debt			$ 580		587
Guaranteed Notes due 2031, €500 million, 1.625% ($4 million of discount; $3 million of debt issuance cost) | Subsidiary Issuer, LYB International Finance II B.V.
Long-term debt [Line Items]
Maturity year			2031
Face amount | €				€ 500
Stated interest rate (in hundredths)			1.625%	1.625%
Unamortized discount			$ 4
Unamortized debt issuance cost			3
Long-term debt			$ 511		516
Guaranteed Notes due 2025, $500 million, 1.25% ($1 million of discount; $1 million of debt issuance cost) | Subsidiary Issuer, LYB International Finance III LLC
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			1
Long-term debt			$ 477		475
Guaranteed Notes due 2030, $500 million, 3.375% ($1 million of debt issuance cost) | Subsidiary Issuer, LYB International Finance III LLC
Long-term debt [Line Items]
Maturity year			2030
Face amount			$ 500
Stated interest rate (in hundredths)			3.375%	3.375%
Unamortized debt issuance cost			$ 1
Long-term debt			$ 117		120
Guaranteed Notes due 2030, $500 million, 2.25% ($3 million of discount; $3 million of debt issuance cost) | Subsidiary Issuer, LYB International Finance III LLC
Long-term debt [Line Items]
Maturity year			2030
Face amount			$ 500
Stated interest rate (in hundredths)			2.25%	2.25%
Unamortized discount			$ 3
Unamortized debt issuance cost			3
Long-term debt			$ 467		469
Guaranteed Notes due 2033, $500 million, 5.625% ($5 million of debt issuance cost)
Long-term debt [Line Items]
Maturity year		2033
Face amount		$ 500
Stated interest rate (in hundredths)		5.625%
Guaranteed Notes due 2033, $500 million, 5.625% ($5 million of debt issuance cost) | Subsidiary Issuer, LYB International Finance III LLC
Long-term debt [Line Items]
Maturity year			2033
Face amount			$ 500
Stated interest rate (in hundredths)			5.625%	5.625%
Unamortized debt issuance cost			$ 5
Long-term debt			$ 495		0
Guaranteed Notes due 2040, $750 million, 3.375% ($2 million of discount; $7 million of debt issuance cost) | Subsidiary Issuer, LYB International Finance III LLC
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			7
Long-term debt			$ 741		741
Guaranteed Notes due 2049, $1,000 million, 4.2% ($14 million of discount; $10 million of debt issuance cost) | Subsidiary Issuer, LYB International Finance III LLC
Long-term debt [Line Items]
Maturity year			2049
Face amount			$ 1,000
Stated interest rate (in hundredths)			4.20%	4.20%
Unamortized discount			$ 14
Unamortized debt issuance cost			10
Long-term debt			$ 976		976
Guaranteed Notes due 2050, $1,000 million, 4.2% ($6 million of discount; $10 million of debt issuance cost) | Subsidiary Issuer, LYB International Finance III LLC
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			$ 973		971
Guaranteed Notes due 2051, $1,000 million, 3.625% ($2 million of discount; $10 million of debt issuance cost) | Subsidiary Issuer, LYB International Finance III LLC
Long-term debt [Line Items]
Maturity year			2051
Face amount			$ 1,000
Stated interest rate (in hundredths)			3.625%	3.625%
Unamortized discount			$ 2
Unamortized debt issuance cost			10
Long-term debt			$ 884		897
Guaranteed Notes due 2060, $500 million, 3.8% ($4 million of discount; $6 million of debt issuance cost) | Subsidiary Issuer, LYB International Finance III LLC
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			477		481
Other long-term debt [Member]
Long-term debt [Line Items]
Long-term debt			$ 25		$ 42

Debt, Description of fair value

Debt, Description of fair value adjustments for guaranteed notes (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022	Dec. 31, 2022
Debt Instrument [Line Items]
Gain (loss) on fair value adjustments of the hedged item related to interest rate swaps	$ 26	$ 97	$ 27	$ 238
Cumulative fair value hedging adjustments included in carrying amount of debt	$ 222		$ 222		$ 195
Guaranteed Notes due 2025, 1.25% [Member] | Subsidiary Issuer, LYB International Finance III LLC
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	$ 0	3	$ (1)	12
Cumulative fair value hedging adjustments included in carrying amount of debt	$ 13		$ 13		14
Guaranteed Notes due 2026, 0.875% [Member] | Subsidiary Issuer, LYB International Finance II B.V.
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)	3	$ (2)	10
Cumulative fair value hedging adjustments included in carrying amount of debt	$ 11		$ 11		13
Guaranteed Notes due 2027, 3.5% [Member] | Subsidiary Issuer, LYB International Finance II B.V.
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	$ 4	15	$ 7	44
Cumulative fair value hedging adjustments included in carrying amount of debt	$ 7		$ 7		0
Guaranteed Notes due 2030, 3.375% [Member] | Subsidiary Issuer, LYB International Finance III LLC
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	$ 3	8	$ 3	24
Cumulative fair value hedging adjustments included in carrying amount of debt	$ 24		$ 24		21
Guaranteed Notes due 2030, 2.25% [Member] | Subsidiary Issuer, LYB International Finance III LLC
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	$ 4	7	$ 3	23
Cumulative fair value hedging adjustments included in carrying amount of debt	$ 27		$ 27		24
Guaranteed Notes due 2031, 1.625% [Member] | Subsidiary Issuer, LYB International Finance II B.V.
Debt Instrument [Line Items]
Maturity year			2031
Stated interest rate (in hundredths)	1.625%		1.625%
Gain (loss) on fair value adjustments of the hedged item related to interest rate swaps	$ 2	7	$ 1	10
Cumulative fair value hedging adjustments included in carrying amount of debt	$ 12		$ 12		11
Guaranteed Notes due 2050, 4.2% [Member] | Subsidiary Issuer, LYB International Finance III LLC
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)	5	$ (2)	10
Cumulative fair value hedging adjustments included in carrying amount of debt	$ 11		$ 11		13
Guaranteed Notes due 2051, 3.625%[Member] | Subsidiary Issuer, LYB International Finance III LLC
Debt Instrument [Line Items]
Maturity year			2051
Stated interest rate (in hundredths)	3.625%		3.625%
Gain (loss) on fair value adjustments of the hedged item related to interest rate swaps	$ 12	41	$ 14	95
Cumulative fair value hedging adjustments included in carrying amount of debt	$ 104		$ 104		90
Guaranteed Notes due 2060, 3.8% [Member] | Subsidiary Issuer, LYB International Finance III LLC
Debt Instrument [Line Items]
Maturity year			2060
Stated interest rate (in hundredths)	3.80%		3.80%
Gain (loss) on fair value adjustments of the hedged item related to interest rate swaps	$ 3	$ 8	$ 4	$ 10
Cumulative fair value hedging adjustments included in carrying amount of debt	$ 13		$ 13		$ 9

Debt, Short-term debt (Details)

Debt, Short-term debt (Details) - USD ($) $ in Millions	Sep. 30, 2023	Dec. 31, 2022
Short-term debt [Line Items]
Short-term debt	$ 112	$ 349
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	0	200
Precious metal financings [Member]
Short-term debt [Line Items]
Short-term debt	112	131
Other short-term debt [Member]
Short-term debt [Line Items]
Short-term debt	$ 0	$ 18

Debt, Description of long-term

Debt, Description of long-term debt (Details) - USD ($) $ in Millions	1 Months Ended		9 Months Ended
	Jul. 31, 2023	May 31, 2023	Sep. 30, 2023	Sep. 30, 2022	Dec. 31, 2022
Long-term debt [Line Items]
Outstanding borrowings			$ 10,994		$ 10,972
Proceeds from issuance of long-term debt			500	$ 0
Repayment of long-term debt			425	$ 0
Senior Revolving Credit Facility [Member]
Long-term debt [Line Items]
Maximum borrowing capacity			$ 3,250
Expiration date			November 2026
Maximum allowed letters of credit			$ 200
Additional borrowing capacity, uncommitted loans			$ 1,000
Credit facility description of interest rate			Borrowings under the facility bear interest at either a base rate, SOFR or EURIBOR rate, plus an applicable margin. Additional fees are incurred for the average daily unused commitments.
Outstanding borrowings			$ 0
Outstanding letters of credit			0
Unused availability			$ 3,250
Guaranteed Notes due 2033 [Member]
Long-term debt [Line Items]
Issuance date		May 2023
Face amount		$ 500
Stated interest rate (in hundredths)		5.625%
Maturity year		2033
Discounted prices at which long-term debt was issued (in thousandths)		99.895%
Proceeds from issuance of long-term debt		$ 495
Description of debt redemption terms		The 2033 Notes may be redeemed at any time in whole, or from time to time in part, prior to the scheduled maturity date, at a redemption price equal to the greater of (i) the sum of the present values of the remaining scheduled payments of principal and interest (discounted at the treasury rate plus the applicable basis points) less interest accrued on the notes to be redeemed, and (ii) 100% of the principal amount of the notes redeemed; plus, in either case, accrued and unpaid interest thereon to, but excluding, the redemption date. The 2033 Notes may also be redeemed at any time, on or after the date that is three months prior to the scheduled maturity date of the notes at a redemption price equal to 100% of the principal amount of the notes to be redeemed plus accrued and unpaid interest thereon to, but excluding, the redemption date. The notes are also redeemable upon certain tax events.
Guaranteed Notes due 2023 [Member]
Long-term debt [Line Items]
Stated interest rate (in hundredths)	4%
Maturity year	2023
Repayment of long-term debt	$ 425

Debt, Description of short-term

Debt, Description of short-term debt (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2023	Dec. 31, 2022
Description of short-term debt [Line Items]
Outstanding short-term borrowings	$ 112
Weighted average interest rate, short-term debt (in hundredths)	2.20%	3.70%
U.S. Receivables Facility [Member]
Description of short-term debt [Line Items]
Expiration date	June 2024
Maximum borrowing capacity	$ 900
Additional borrowing capacity, uncommitted loans	$ 300
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. In May 2023, we amended our U.S. Receivables Facility to update the interest rate benchmark to reference SOFR rather than LIBOR.
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	$ 0

Debt, Covenant Compliance (Deta

Debt, Covenant Compliance (Details)	9 Months Ended
	Sep. 30, 2023
Debt Disclosure [Abstract]
Debt instrument, covenant compliance	we are in compliance with our debt covenants

Debt, Supply Chain Finance Arra

Debt, Supply Chain Finance Arrangements (Details) - USD ($) $ in Millions	Sep. 30, 2023	Dec. 31, 2022
Payables and Accruals [Abstract]
Supplier finance program, payment timing, period	90 days
Supplier finance program obligation, current in Accounts payable-Trade	$ 64	$ 53

Financial Instruments and Fai_3

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, 2023	Dec. 31, 2022
Derivative and non-derivative assets and liabilities at fair value, net, by balance sheet classification [Abstract]
Fair value, derivative and non-derivative financial instruments assets	$ 317	$ 310
Fair value, derivative and non-derivative financial instruments liabilities	389	309
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]
Fair value, derivative and non-derivative financial instruments assets	1	0
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]
Fair value, derivative and non-derivative financial instruments assets	1	0
Derivative [Member] | Designated as hedges: [Member] | Commodities [Member] | Accrued and other current liabilities [Member] | Fair value, inputs, level 2 [Member]
Derivative and non-derivative assets and liabilities at fair value, net, by balance sheet classification [Abstract]
Fair value, derivative and non-derivative financial instruments liabilities	9	14
Derivative [Member] | Designated as hedges: [Member] | Commodities [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]
Fair value, derivative and non-derivative financial instruments liabilities	12	0
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]
Fair value, derivative and non-derivative financial instruments assets	107	109
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]
Fair value, derivative and non-derivative financial instruments assets	121	133
Derivative [Member] | Designated as hedges: [Member] | Foreign currency [Member] | Accrued and other current liabilities [Member] | Fair value, inputs, level 2 [Member]
Derivative and non-derivative assets and liabilities at fair value, net, by balance sheet classification [Abstract]
Fair value, derivative and non-derivative financial instruments liabilities	27	15
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]
Fair value, derivative and non-derivative financial instruments liabilities	4	8
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]
Fair value, derivative and non-derivative financial instruments assets	68	16
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]
Fair value, derivative and non-derivative financial instruments assets	0	25
Derivative [Member] | Designated as hedges: [Member] | Interest rate contract [Member] | Accrued and other current liabilities [Member] | Fair value, inputs, level 2 [Member]
Derivative and non-derivative assets and liabilities at fair value, net, by balance sheet classification [Abstract]
Fair value, derivative and non-derivative financial instruments liabilities	29	23
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]
Fair value, derivative and non-derivative financial instruments liabilities	251	229
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]
Fair value, derivative and non-derivative financial instruments assets	12	27
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]
Fair value, derivative and non-derivative financial instruments assets	3	0
Derivative [Member] | Not designated as hedges: [Member] | Commodities [Member] | Accrued and other current liabilities [Member] | Fair value, inputs, level 2 [Member]
Derivative and non-derivative assets and liabilities at fair value, net, by balance sheet classification [Abstract]
Fair value, derivative and non-derivative financial instruments liabilities	51	11
Derivative [Member] | Not designated as hedges: [Member] | Commodities [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]
Fair value, derivative and non-derivative financial instruments liabilities	4	3
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]
Fair value, derivative and non-derivative financial instruments assets	4	0
Derivative [Member] | Not designated as hedges: [Member] | Foreign currency [Member] | Accrued and other current liabilities [Member] | Fair value, inputs, level 2 [Member]
Derivative and non-derivative assets and liabilities at fair value, net, by balance sheet classification [Abstract]
Fair value, derivative and non-derivative financial instruments liabilities	$ 2	$ 6

Financial Instruments and Fai_4

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, 2023	Dec. 31, 2022
Liabilities: [Abstract]
Precious metal financings, carrying value	$ 112	$ 349
Nonrecurring [Member] | Non-derivatives: [Member]
Liabilities: [Abstract]
Precious metal financings, carrying value	112	131
Long-term debt, carrying value	10,195	10,517
Total liabilities, carrying value	10,307	10,648
Precious metal financings, fair value	113	113
Long-term debt, fair value	8,274	8,882
Total liabilities, fair value	$ 8,387	$ 8,995
Non-derivative fair value level description	The financial instruments in the table above are classified as Level 2

Financial Instruments and Fai_5

Financial Instruments and Fair Value Measurements, Summary of commodity derivatives (Details) - Commodities [Member] renewableIdentificationNumbers-RINs in Millions, ozt in Millions, bbl in Millions, MWh in Millions, MMBTU in Millions	9 Months Ended
	Sep. 30, 2023 bbl ozt MWh renewableIdentificationNumbers-RINs MMBTU	Dec. 31, 2022 renewableIdentificationNumbers-RINs bbl MWh MMBTU ozt
Designated as hedges: [Member] | Natural gas [Member]
Derivative [Line Items]
Derivative, Nonmonetary notional amount | MMBTU	68	5
Designated as hedges: [Member] | Natural gas [Member] | Minimum [Member]
Derivative [Line Items]
Maturity date	2023
Designated as hedges: [Member] | Natural gas [Member] | Maximum [Member]
Derivative [Line Items]
Maturity date	2026
Designated as hedges: [Member] | Ethane [Member]
Derivative [Line Items]
Derivative, Nonmonetary notional amount	4	0
Maturity date	2024
Designated as hedges: [Member] | Power [Member]
Derivative [Line Items]
Derivative, Nonmonetary notional amount | MWh	1	0
Designated as hedges: [Member] | Power [Member] | Minimum [Member]
Derivative [Line Items]
Maturity date	2023
Designated as hedges: [Member] | Power [Member] | Maximum [Member]
Derivative [Line Items]
Maturity date	2025
Not designated as hedges [Member] | Crude oil [Member]
Derivative [Line Items]
Derivative, Nonmonetary notional amount	14	2
Not designated as hedges [Member] | Crude oil [Member] | Minimum [Member]
Derivative [Line Items]
Maturity date	2023
Not designated as hedges [Member] | Crude oil [Member] | Maximum [Member]
Derivative [Line Items]
Maturity date	2024
Not designated as hedges [Member] | Refined products [Member]
Derivative [Line Items]
Derivative, Nonmonetary notional amount	18	2
Not designated as hedges [Member] | Refined products [Member] | Minimum [Member]
Derivative [Line Items]
Maturity date	2023
Not designated as hedges [Member] | Refined products [Member] | Maximum [Member]
Derivative [Line Items]
Maturity date	2024
Not designated as hedges [Member] | Precious metals [Member]
Derivative [Line Items]
Derivative, Nonmonetary notional amount | ozt	1	1
Not designated as hedges [Member] | Precious metals [Member] | Minimum [Member]
Derivative [Line Items]
Maturity date	2023
Not designated as hedges [Member] | Precious metals [Member] | Maximum [Member]
Derivative [Line Items]
Maturity date	2024
Not designated as hedges [Member] | Renewable Identification Numbers - Commodity Derivative [Member]
Derivative [Line Items]
Derivative, Nonmonetary notional amount | renewableIdentificationNumbers-RINs	68	0
Not designated as hedges [Member] | Renewable Identification Numbers - Commodity Derivative [Member] | Minimum [Member]
Derivative [Line Items]
Maturity date	2023
Not designated as hedges [Member] | Renewable Identification Numbers - Commodity Derivative [Member] | Maximum [Member]
Derivative [Line Items]
Maturity date	2024

Financial Instruments and Fai_6

Financial Instruments and Fair Value Measurements, Summary of interest rate hedges (Details) - Interest rate contract [Member] - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2023	Dec. 31, 2022
Cash flow hedge [Member]
Derivative [Line Items]
Notional amount	$ 200	$ 400
Maturity date	2024
Fair value hedge [Member]
Derivative [Line Items]
Notional amount	$ 2,162	$ 2,164
Fair value hedge [Member] | Minimum [Member]
Derivative [Line Items]
Maturity date	2025
Fair value hedge [Member] | Maximum [Member]
Derivative [Line Items]
Maturity date	2031

Financial Instruments and Fai_7

Financial Instruments and Fair Value Measurements, Summary of foreign currency hedges (Details) - Foreign currency [Member] - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2023	Dec. 31, 2022
Designated as hedges: [Member] | Derivative [Member] | Net investment hedges [Member]
Derivative [Line Items]
Notional amount	$ 3,306	$ 3,128
Designated as hedges: [Member] | Derivative [Member] | Net investment hedges [Member] | Minimum [Member]
Derivative [Line Items]
Maturity date	2023
Designated as hedges: [Member] | Derivative [Member] | Net investment hedges [Member] | Maximum [Member]
Derivative [Line Items]
Maturity date	2030
Designated as hedges: [Member] | Derivative [Member] | Cash flow hedging [Member]
Derivative [Line Items]
Notional amount	$ 1,150	1,150
Designated as hedges: [Member] | Derivative [Member] | Cash flow hedging [Member] | Minimum [Member]
Derivative [Line Items]
Maturity date	2024
Designated as hedges: [Member] | Derivative [Member] | Cash flow hedging [Member] | Maximum [Member]
Derivative [Line Items]
Maturity date	2027
Not designated as hedges [Member]
Derivative [Line Items]
Notional amount	$ 450	$ 396
Not designated as hedges [Member] | Minimum [Member]
Derivative [Line Items]
Maturity date	2023
Not designated as hedges [Member] | Maximum [Member]
Derivative [Line Items]
Maturity date	2024

Financial Instruments and Fai_8

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, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Derivative Instruments, gain (loss) [Line Items]
Gain (loss) recognized in AOCI	$ 98	$ 324	$ 25	$ 934
Gain (loss) reclassified to income from AOCI	(20)	(88)	16	(219)
Additional gain (loss) recognized in income	(48)	(133)	(71)	(175)
Interest expense [Member]
Derivative Instruments, gain (loss) [Line Items]
Pre-tax unrealized gain (loss) to be reclassified to earnings over the next twelve months	5		5
Derivatives: [Member] | Designated as hedges: [Member] | Commodities [Member]
Derivative Instruments, gain (loss) [Line Items]
Gain (loss) reclassified to income from AOCI	6	(22)	25	(54)
Additional gain (loss) recognized in income	0	0	0	0
Derivatives: [Member] | Designated as hedges: [Member] | Commodities [Member] | Cost of sales [Member]
Derivative Instruments, gain (loss) [Line Items]
Gain (loss) recognized in AOCI	(24)	10	(32)	40
Derivatives: [Member] | Designated as hedges: [Member] | Foreign currency [Member]
Derivative Instruments, gain (loss) [Line Items]
Gain (loss) reclassified to income from AOCI	(27)	(67)	(13)	(169)
Additional gain (loss) recognized in income	18	20	56	51
Derivatives: [Member] | Designated as hedges: [Member] | Foreign currency [Member] | Interest expense [Member]
Derivative Instruments, gain (loss) [Line Items]
Gain (loss) recognized in AOCI	83	285	20	607
Derivatives: [Member] | Designated as hedges: [Member] | Interest rate contract [Member]
Derivative Instruments, gain (loss) [Line Items]
Gain (loss) reclassified to income from AOCI	1	1	4	4
Additional gain (loss) recognized in income	(47)	(94)	(77)	(221)
Derivatives: [Member] | Designated as hedges: [Member] | Interest rate contract [Member] | Interest expense [Member]
Derivative Instruments, gain (loss) [Line Items]
Gain (loss) recognized in AOCI	39	29	37	287
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 to income from AOCI	0	0	0	0
Additional gain (loss) recognized in income	10	(16)	(24)	66
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 to income from AOCI	0	0	0	0
Additional gain (loss) recognized in income	(34)	(28)	(7)	(17)
Derivatives: [Member] | Not designated as hedges [Member] | Foreign currency [Member]
Derivative Instruments, gain (loss) [Line Items]
Gain (loss) reclassified to income from AOCI	0	0	0	0
Additional gain (loss) recognized in income	5	(15)	(19)	(54)
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

Financial Instruments and Fai_9

Financial Instruments and Fair Value Measurements, Summary of marketable securities (Details) - USD ($) $ in Millions	Sep. 30, 2023	Dec. 31, 2022
Cash and cash equivalents [Abstract]
Amount of marketable securities classified as cash and cash equivalents	$ 1,928	$ 1,191

Income Taxes (Details)

Income Taxes (Details)	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Effective income tax rate reconciliation, percent [Abstract]
Effective income tax rate (in hundredths)	17%	21.20%	20.80%	19.30%
Income tax (expense) benefit [Abstract]
Exempt income benefit, percent	5.90%		1.40%
Return to accrual adjustments tax benefit, percent	2.90%
Foreign exchange gains or losses, percent	0.80%
Varying statutory tax rates, percent	6.20%
Audit settlement, percent			1.60%
Nondeductible expense, goodwill impairment losses, percent			1.70%

Commitments and Contingencies (

Commitments and Contingencies (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2023	Dec. 31, 2022
Site contingency [Line Items]
Future environmental remediation costs	$ 119	$ 127
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	$ 24

Commitments and Contingencies,

Commitments and Contingencies, Indemnification (Details)	9 Months Ended
	Sep. 30, 2023
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, 2023	Jun. 30, 2023	Mar. 31, 2023	Sep. 30, 2023
Mar 2023 Quarterly dividend [Member]
Dividends Payable [Line Items]
Dividend per ordinary share (per share)			$ 1.19
Aggregate dividends paid			$ 389
Date of record			Mar. 06, 2023
Jun 2023 Quarterly dividend [Member]
Dividends Payable [Line Items]
Dividend per ordinary share (per share)		$ 1.25
Aggregate dividends paid		$ 408
Date of record		May 30, 2023
Sep 2023 Quarterly dividend [Member]
Dividends Payable [Line Items]
Dividend per ordinary share (per share)	$ 1.25
Aggregate dividends paid	$ 407
Date of record	Aug. 28, 2023
Dividend Paid [Member]
Dividends Payable [Line Items]
Dividend per ordinary share (per share)				$ 3.69
Aggregate dividends paid				$ 1,204

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, 2023	Sep. 30, 2023	Sep. 30, 2022
Share repurchase authorization [Line Items]
Shares repurchased (in shares)		2,349,207	4,397,754
Average purchase price (in dollars per share)		$ 89.82	$ 92.41
Total purchase price, including commissions and fees		$ 211	$ 406
Cash paid for shares repurchased		$ 211	$ 420
2021 Share Repurchase Authorization [Member]
Share repurchase authorization [Line Items]
Shares repurchased (in shares)			2,111,538
Average purchase price (in dollars per share)			$ 97.72
Total purchase price, including commissions and fees			$ 206
2022 Share Repurchase Authorization [Member]
Share repurchase authorization [Line Items]
Shares repurchased (in shares)		1,365,898	2,286,216
Average purchase price (in dollars per share)		$ 88.98	$ 87.50
Total purchase price, including commissions and fees		$ 122	$ 200
2023 Share Repurchase Authorization [Member]
Share repurchase authorization [Line Items]
Shares authorized to be repurchased	34,000,000
Share repurchase authorization expiration date	Nov. 19, 2024
Shares repurchased (in shares)		983,309
Average purchase price (in dollars per share)		$ 90.99
Total purchase price, including commissions and fees		$ 89

Shareholders' Equity and Rede_5

Shareholders' Equity and Redeemable Non-controlling Interests, Shareholders' Equity, Ordinary shares (Details) - shares	9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022
Ordinary share outstanding [Abstract]
Beginning balance (in shares)	325,723,567
Purchase of ordinary shares (in shares)	(2,349,207)	(4,397,754)
Ending balance (in shares)	324,359,296
Ordinary shares [Member]
Ordinary share outstanding [Abstract]
Beginning balance (in shares)	325,723,567	329,536,389
Share-based compensation (in shares)	746,727	273,943
Employee stock purchase plan (in shares)	238,209	210,504
Purchase of ordinary shares (in shares)	(2,349,207)	(4,397,754)
Ending balance (in shares)	324,359,296	325,623,082

Shareholders' Equity and Rede_6

Shareholders' Equity and Redeemable Non-controlling Interests, Shareholders' Equity, Treasury shares (Details) - shares	9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022
Increase (Decrease) in Treasury Stock [Roll Forward]
Beginning balance (in shares)	14,698,931
Purchase of ordinary shares (in shares)	2,349,207	4,397,754
Ending balance (in shares)	16,063,202
Treasury shares [Member]
Increase (Decrease) in Treasury Stock [Roll Forward]
Beginning balance (in shares)	14,698,931	10,675,605
Share-based compensation (in shares)	(746,727)	(273,943)
Employee stock purchase plan (in shares)	(238,209)	0
Purchase of ordinary shares (in shares)	2,349,207	4,397,754
Ending balance (in shares)	16,063,202	14,799,416

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, 2023	Sep. 30, 2022
Accumulated other comprehensive income (loss) [Line Items]
Accumulated other comprehensive income (loss), beginning of period	$ (1,372)	$ (1,803)
Other comprehensive income (loss) before reclassifications	(41)	307
Tax (expense) benefit before reclassifications	(6)	(244)
Amounts reclassified from accumulated other comprehensive loss	24	(98)
Tax (expense) benefit	(5)	27
Net other comprehensive income (loss)	(28)	(8)
Accumulated other comprehensive income (loss), end of period	(1,400)	(1,811)
Financial derivatives [Member]
Accumulated other comprehensive income (loss) [Line Items]
Accumulated other comprehensive income (loss), beginning of period	(146)	(354)
Other comprehensive income (loss) before reclassifications	13	490
Tax (expense) benefit before reclassifications	(2)	(113)
Amounts reclassified from accumulated other comprehensive loss	16	(219)
Tax (expense) benefit	(3)	55
Net other comprehensive income (loss)	24	213
Accumulated other comprehensive income (loss), end of period	(122)	(141)
Defined benefit pension and other postretirement benefit plans [Member]
Accumulated other comprehensive income (loss) [Line Items]
Accumulated other comprehensive income (loss), beginning of period	(182)	(528)
Other comprehensive income (loss) before reclassifications	0	53
Tax (expense) benefit before reclassifications	0	(12)
Amounts reclassified from accumulated other comprehensive loss	8	121
Tax (expense) benefit	(2)	(28)
Net other comprehensive income (loss)	6	134
Accumulated other comprehensive income (loss), end of period	(176)	(394)
Foreign currency translation adjustments [Member]
Accumulated other comprehensive income (loss) [Line Items]
Accumulated other comprehensive income (loss), beginning of period	(1,044)	(921)
Other comprehensive income (loss) before reclassifications	(54)	(236)
Tax (expense) benefit before reclassifications	(4)	(119)
Amounts reclassified from accumulated other comprehensive loss	0	0
Tax (expense) benefit	0	0
Net other comprehensive income (loss)	(58)	(355)
Accumulated other comprehensive income (loss), end of period	$ (1,102)	$ (1,276)

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, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Reclassification adjustments out of accumulated other comprehensive income (loss) [Line Items]
Sales and other operating revenue	$ 10,625	$ 12,250	$ 31,178	$ 40,245
Cost of sales	9,177	11,088	26,909	34,491
Interest expense (income)	125	70	356	202
Income (loss) before income taxes	901	727	2,448	4,387
Income tax (expense) benefit	(153)	(154)	(508)	(848)
Net income	747	572	1,936	3,536
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	(17)	(76)	24	(98)
Income tax (expense) benefit	5	20	(5)	27
Net income	(12)	(56)	19	(71)
Financial derivatives [Member] | Amounts reclassified out of accumulated other comprehensive income (loss) [Member]
Reclassification adjustments out of accumulated other comprehensive income (loss) [Line Items]
Income tax (expense) benefit	6	22	(3)	55
Net income	(14)	(66)	13	(164)
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	6	(22)	25	(54)
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)	(27)	(67)	(13)	(169)
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	4
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]
Settlement (gain) loss	0	6	0	100
Amortization of actuarial (gain) loss	3	5	6	18
Amortization of prior service cost (benefit)	0	1	2	3
Income tax (expense) benefit	(1)	(2)	(2)	(28)
Net income	$ 2	$ 10	$ 6	$ 93

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, 2023	May 31, 2023	Feb. 28, 2023	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022	Dec. 31, 2022
Temporary Equity [Abstract]
Cumulative redeemable non-controlling interest stock outstanding				113,290		113,290		113,471
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, 2023	Apr. 15, 2023	Jan. 15, 2023
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, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Earnings per share reconciliation [Abstract]
Net income (loss)	$ 747	$ 572	$ 1,936	$ 3,536
Dividends on redeemable non-controlling interests	$ (2)	$ (2)	$ (5)	$ (5)
Earnings per share, Basic [Abstract]
Basic (in dollars per share)	$ 2.29	$ 1.75	$ 5.92	$ 10.76
Earnings per share, Diluted [Abstract]
Diluted (in dollars per share)	$ 2.29	$ 1.75	$ 5.90	$ 10.74
Continuing operations [Member]
Earnings per share reconciliation [Abstract]
Net income (loss)	$ 748	$ 573	$ 1,940	$ 3,539
Dividends on redeemable non-controlling interests	(2)	(2)	(5)	(5)
Net income attributable to participating securities, Basic	(2)	0	(7)	(9)
Net income attributable to participating securities, Diluted	(2)	0	(7)	(9)
Net income (loss) attributable to ordinary shareholders - Basic	744	571	1,928	3,525
Net income (loss) attributable to ordinary shareholders - Diluted	$ 744	$ 571	$ 1,928	$ 3,525
Weighted average number of shares outstanding reconciliation [Abstract]
Basic weighted average common stock outstanding (in shares)	324	326	325	327
Effect of dilutive securities: [Abstract]
Effect of dilutive securities (in shares)	1	1	1	1
Potential dilutive shares (in shares)	325	327	326	328
Earnings per share, Basic [Abstract]
Basic (in dollars per share)	$ 2.29	$ 1.75	$ 5.93	$ 10.77
Earnings per share, Diluted [Abstract]
Diluted (in dollars per share)	$ 2.29	$ 1.75	$ 5.91	$ 10.75
Discontinued operations [Member]
Earnings per share reconciliation [Abstract]
Net income (loss)	$ (1)	$ (1)	$ (4)	$ (3)
Dividends on redeemable non-controlling interests	0	0	0	0
Net income attributable to participating securities, Basic	0	0	0	0
Net income attributable to participating securities, Diluted	0	0	0	0
Net income (loss) attributable to ordinary shareholders - Basic	(1)	(1)	(4)	(3)
Net income (loss) attributable to ordinary shareholders - Diluted	$ (1)	$ (1)	$ (4)	$ (3)
Weighted average number of shares outstanding reconciliation [Abstract]
Basic weighted average common stock outstanding (in shares)	324	326	325	327
Effect of dilutive securities: [Abstract]
Effect of dilutive securities (in shares)	1	1	1	1
Potential dilutive shares (in shares)	325	327	326	328
Earnings per share, Basic [Abstract]
Basic (in dollars per share)	$ 0	$ 0	$ (0.01)	$ (0.01)
Earnings per share, Diluted [Abstract]
Diluted (in dollars per share)	$ 0	$ 0	$ (0.01)	$ (0.01)

Segment and Related Informati_3

Segment and Related Information (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Summarized financial information concerning reportable segments: [Abstract]
Sales and other operating revenues	$ 10,625	$ 12,250	$ 31,178	$ 40,245
Income (loss) from equity investments	6	(26)	11	25
EBITDA	1,356	1,108	3,870	5,509
Capital expenditures	394	439	1,047	1,417
O&P - Americas [Member]
Summarized financial information concerning reportable segments: [Abstract]
Sales and other operating revenues	1,717	2,413	5,200	7,576
Income (loss) from equity investments	6	19	41	81
EBITDA	479	588	1,699	2,481
Capital expenditures	156	70	340	312
O&P - EAI [Member]
Summarized financial information concerning reportable segments: [Abstract]
Sales and other operating revenues	2,324	2,899	7,569	10,221
Income (loss) from equity investments	(3)	(39)	(21)	(39)
EBITDA	(45)	(74)	116	326
Capital expenditures	67	52	186	250
I&D [Member]
Summarized financial information concerning reportable segments: [Abstract]
Sales and other operating revenues	2,985	3,229	8,255	10,219
Income (loss) from equity investments	3	(6)	(8)	(17)
EBITDA	708	360	1,606	1,581
Capital expenditures	120	245	403	673
APS [Member]
Summarized financial information concerning reportable segments: [Abstract]
Sales and other operating revenues	897	1,049	2,848	3,297
Income (loss) from equity investments	0	0	(1)	0
EBITDA	18	28	(174)	141
Capital expenditures	18	19	49	43
Refining [Member]
Summarized financial information concerning reportable segments: [Abstract]
Sales and other operating revenues	2,510	2,506	6,860	8,467
Income (loss) from equity investments	0	0	0	0
EBITDA	76	106	369	672
Capital expenditures	10	22	12	48
Technology [Member]
Summarized financial information concerning reportable segments: [Abstract]
Sales and other operating revenues	192	154	446	465
Income (loss) from equity investments	0	0	0	0
EBITDA	146	92	298	307
Capital expenditures	18	25	50	81
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
EBITDA	(26)	8	(44)	1
Capital expenditures	5	6	7	10
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	1,164	1,277	3,216	4,086
Intersegment elimination [Member] | O&P - EAI [Member]
Summarized financial information concerning reportable segments: [Abstract]
Sales and other operating revenues	122	210	498	711
Intersegment elimination [Member] | I&D [Member]
Summarized financial information concerning reportable segments: [Abstract]
Sales and other operating revenues	96	54	170	169
Intersegment elimination [Member] | APS [Member]
Summarized financial information concerning reportable segments: [Abstract]
Sales and other operating revenues	2	0	8	4
Intersegment elimination [Member] | Refining [Member]
Summarized financial information concerning reportable segments: [Abstract]
Sales and other operating revenues	155	246	454	793
Intersegment elimination [Member] | Technology [Member]
Summarized financial information concerning reportable segments: [Abstract]
Sales and other operating revenues	26	19	65	83
Intersegment elimination [Member] | Other [Member]
Summarized financial information concerning reportable segments: [Abstract]
Sales and other operating revenues	(1,565)	(1,806)	(4,411)	(5,846)
Operating segments [Member]
Summarized financial information concerning reportable segments: [Abstract]
Sales and other operating revenues	10,625	12,250	31,178	40,245
Operating segments [Member] | O&P - Americas [Member]
Summarized financial information concerning reportable segments: [Abstract]
Sales and other operating revenues	2,881	3,690	8,416	11,662
Operating segments [Member] | O&P - EAI [Member]
Summarized financial information concerning reportable segments: [Abstract]
Sales and other operating revenues	2,446	3,109	8,067	10,932
Operating segments [Member] | I&D [Member]
Summarized financial information concerning reportable segments: [Abstract]
Sales and other operating revenues	3,081	3,283	8,425	10,388
Operating segments [Member] | APS [Member]
Summarized financial information concerning reportable segments: [Abstract]
Sales and other operating revenues	899	1,049	2,856	3,301
Operating segments [Member] | Refining [Member]
Summarized financial information concerning reportable segments: [Abstract]
Sales and other operating revenues	2,665	2,752	7,314	9,260
Operating segments [Member] | Technology [Member]
Summarized financial information concerning reportable segments: [Abstract]
Sales and other operating revenues	218	173	511	548
Operating segments [Member] | Other [Member]
Summarized financial information concerning reportable segments: [Abstract]
Sales and other operating revenues	$ (1,565)	$ (1,806)	$ (4,411)	$ (5,846)

Segment and Related Informati_4

Segment and Related Information, Long-lived assets by segments (Details) - USD ($) $ in Millions	Sep. 30, 2023	Dec. 31, 2022
Segment reporting asset reconciling item [Line Items]
Property, plant and equipment, net	$ 15,194	$ 15,387
Equity investments	4,056	4,295
O&P - Americas [Member]
Segment reporting asset reconciling item [Line Items]
Property, plant and equipment, net	6,370	6,378
Equity investments	2,012	2,053
O&P - EAI [Member]
Segment reporting asset reconciling item [Line Items]
Property, plant and equipment, net	1,983	1,880
Equity investments	1,513	1,655
I&D [Member]
Segment reporting asset reconciling item [Line Items]
Property, plant and equipment, net	5,615	5,728
Equity investments	529	585
APS [Member]
Segment reporting asset reconciling item [Line Items]
Property, plant and equipment, net	596	636
Equity investments	2	2
Refining [Member]
Segment reporting asset reconciling item [Line Items]
Property, plant and equipment, net	140	255
Equity investments	0	0
Technology [Member]
Segment reporting asset reconciling item [Line Items]
Property, plant and equipment, net	490	510
Equity investments	$ 0	$ 0

Segment and Related Informati_5

Segment and Related Information, Structure changes goodwill impairment and exit of Refinery Operations (Details) - USD ($) $ in Millions		3 Months Ended				9 Months Ended
	Jan. 01, 2023	Sep. 30, 2023	Mar. 31, 2023	Sep. 30, 2022	Jun. 30, 2022	Sep. 30, 2023	Sep. 30, 2022	Dec. 31, 2022
Segment reporting information [Line Items]
Goodwill		$ 1,604				$ 1,604		$ 1,827
Impairments		25		$ 0		277	$ 69
O&P - Americas [Member]
Segment reporting information [Line Items]
Goodwill allocated from APS segment	$ 315
O&P - EAI [Member]
Segment reporting information [Line Items]
Goodwill allocated from APS segment	$ 269
Consideration					$ 38
Impairments					$ 69
APS [Member]
Segment reporting information [Line Items]
Goodwill								$ 1,370
Goodwill, impairment loss			$ 252
Refining [Member]
Segment reporting information [Line Items]
Restructuring and related cost, incurred cost		49		92		284	92
Refining [Member] | Accelerated lease amortization costs [Member]
Segment reporting information [Line Items]
Restructuring and related cost, incurred cost		11		36		100	36
Refining [Member] | Accelerated lease amortization costs [Member] | Minimum [Member]
Segment reporting information [Line Items]
Restructuring and related cost, expected cost		10				10
Refining [Member] | Accelerated lease amortization costs [Member] | Maximum [Member]
Segment reporting information [Line Items]
Restructuring and related cost, expected cost		70				70
Refining [Member] | Personnel costs [Member]
Segment reporting information [Line Items]
Restructuring and related cost, incurred cost		16		48		59	48
Refining [Member] | Personnel costs [Member] | Minimum [Member]
Segment reporting information [Line Items]
Restructuring and related cost, expected cost		35				35
Refining [Member] | Personnel costs [Member] | Maximum [Member]
Segment reporting information [Line Items]
Restructuring and related cost, expected cost		110				110
Refining [Member] | Accretion of asset retirement costs [Member]
Segment reporting information [Line Items]
Restructuring and related cost, incurred cost		2		0		6	0
Refining [Member] | Asset retirement obligation costs [Member]
Segment reporting information [Line Items]
Restructuring and related cost, incurred cost		20		$ 8		119	$ 8
Asset retirement obligation, liabilities incurred						257
Refining [Member] | Asset retirement obligation costs [Member] | Minimum [Member]
Segment reporting information [Line Items]
Restructuring and related cost, expected cost		150				150
Refining [Member] | Asset retirement obligation costs [Member] | Maximum [Member]
Segment reporting information [Line Items]
Restructuring and related cost, expected cost		450				450
Refining [Member] | Other restructuring | Minimum [Member]
Segment reporting information [Line Items]
Restructuring and related cost, expected cost		50				50
Refining [Member] | Other restructuring | Maximum [Member]
Segment reporting information [Line Items]
Restructuring and related cost, expected cost		$ 100				$ 100

Segment and Related Informati_6

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, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
EBITDA: [Abstract]
Total segment EBITDA	$ 1,382	$ 1,100	$ 3,914	$ 5,508
Other EBITDA	(26)	8	(44)	1
Less: [Abstract]
Depreciation and amortization expense	(367)	(318)	(1,154)	(933)
Interest expense	(125)	(70)	(356)	(202)
Add: [Abstract]
Interest income	37	7	88	13
Income from continuing operations before income taxes	$ 901	$ 727	$ 2,448	$ 4,387