LyondellBasell Industries (LYB) 10-Q28 Apr 232023 Q1 Quarterly reportFinancial data

Company Profile

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
Document and Entity Information - shares	Mar. 31, 2023	Apr. 26, 2023
Document And Entity Information [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 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		325,274,141
Entity Central Index Key	0001489393
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	Q1
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
Consolidated Statements of Income - USD ($) $ in Millions	Mar. 31, 2023	Mar. 31, 2022
Sales and other operating revenues:
Trade	$ 10,076	$ 12,840
Related parties	171	317
Sales revenue, net	10,247	13,157
Operating costs and expenses:
Cost of sales	8,864	11,136
Impairment	252	0
Selling, general and administrative expenses	385	328
Research and development expenses	33	32
Costs and expenses	9,534	11,496
Operating income	713	1,661
Interest expense	(116)	(74)
Interest income	23	2
Other income, net	5	19
Income from continuing operations before equity investments and income taxes	625	1,608
Income from equity investments	17	29
Income from continuing operations before income taxes	642	1,637
Provision for income taxes	167	316
Income from continuing operations	475	1,321
Loss from discontinued operations, net of tax	(1)	(1)
Net income	474	1,320
Dividends on redeemable non-controlling interests	(2)	(2)
Net income attributable to the Company shareholders	$ 472	$ 1,318
Net income (loss) attributable to the Company shareholders - Basic:
Continuing operations (in dollars per share)	$ 1.45	$ 4.01
Discontinued operations (in dollars per share)	0	0
Basic (in dollars per share)	1.45	4.01
Net income (loss) attributable to the Company shareholders - Diluted:
Continuing operations (in dollars per share)	1.44	4
Discontinued operations (in dollars per share)	0	0
Diluted (in dollars per share)	$ 1.44	$ 4

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Net income	$ 474	$ 1,320
Other comprehensive income (loss), net of tax –
Financial derivatives	4	88
Defined benefit pension and other postretirement benefit plans	2	5
Foreign currency translations	59	(25)
Total other comprehensive income, net of tax	65	68
Comprehensive income	539	1,388
Dividends on redeemable non-controlling interests	(2)	(2)
Comprehensive income attributable to the Company shareholders	$ 537	$ 1,386

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Millions	Mar. 31, 2023	Dec. 31, 2022
Current assets:
Cash and cash equivalents	$ 1,790	$ 2,151
Restricted cash	14	5
Accounts receivable:
Trade, net	3,715	3,392
Related parties	186	201
Inventories	5,158	4,804
Prepaid expenses and other current assets	1,161	1,292
Total current assets	12,024	11,845
Operating lease assets	1,677	1,725
Property, plant and equipment	24,130	23,724
Less: Accumulated depreciation	(8,729)	(8,337)
Property, plant and equipment, net	15,401	15,387
Equity investments	4,266	4,295
Goodwill	1,605	1,827
Intangible assets, net	651	662
Other assets	631	624
Total assets	36,255	36,365
Current liabilities:
Current maturities of long-term debt	432	432
Short-term debt	343	349
Accounts payable:
Trade	3,029	3,106
Related parties	543	477
Accrued liabilities	2,166	2,396
Total current liabilities	6,513	6,760
Long-term debt	10,601	10,540
Operating lease liabilities	1,507	1,510
Other liabilities	1,899	1,954
Deferred income taxes	2,886	2,858
Commitments and contingencies
Redeemable non-controlling interests	114	114
Shareholders’ equity:
Ordinary shares, €0.04 par value, 1,275 million shares authorized, 325,468,601 and 325,723,567 shares outstanding, respectively	19	19
Additional paid-in capital	6,092	6,119
Retained earnings	9,277	9,195
Accumulated other comprehensive loss	(1,307)	(1,372)
Treasury stock, at cost, 14,953,897 and 14,698,931 ordinary shares, respectively	(1,360)	(1,346)
Total Company share of shareholders’ equity	12,721	12,615
Non-controlling interests	14	14
Total equity	12,735	12,629
Total liabilities, redeemable non-controlling interests and equity	$ 36,255	$ 36,365

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parentheticals) - € / shares	Mar. 31, 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)	325,468,601	325,723,567
Treasury stock, shares (in shares)	14,953,897	14,698,931

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Cash flows from operating activities:
Net income	$ 474	$ 1,320
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	396	311
Impairment	252	0
Amortization of debt-related costs	3	4
Share-based compensation	24	18
Equity investments -
Equity income	(17)	(29)
Distributions of earnings, net of tax	22	34
Deferred income tax provision	6	137
Changes in assets and liabilities that provided (used) cash:
Accounts receivable	(279)	(629)
Inventories	(319)	(117)
Accounts payable	40	724
Other, net	(120)	(271)
Net cash provided by operating activities	482	1,502
Cash flows from investing activities:
Expenditures for property, plant and equipment	(352)	(446)
Proceeds from equity securities	0	8
Acquisition of equity method investment	(2)	0
Other, net	(17)	(18)
Net cash used in investing activities	(371)	(456)
Cash flows from financing activities:
Repurchases of Company ordinary shares	(70)	(217)
Dividends paid - common stock	(389)	(371)
Net proceeds from (repayments of) commercial paper	0	(169)
Collateral received from interest rate derivatives	0	51
Other, net	(18)	(7)
Net cash used in financing activities	(477)	(713)
Effect of exchange rate changes on cash	14	(16)
(Decrease) increase in cash and cash equivalents and restricted cash	(352)	317
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	$ 1,804	$ 1,794

Consolidated Statements of Shar

Consolidated Statements of Shareholders' Equity - USD ($) $ in Millions	Total	Ordinary Shares	Treasury Stock	Additional Paid-in Capital	Retained Earnings	Accumulated Other Comprehensive Loss	Company Share of Shareholders' Equity	Non-Controlling Interests
Beginning balance at Dec. 31, 2021		$ 19	$ (965)	$ 6,044	$ 8,563	$ (1,803)	$ 11,858	$ 14
Net income	$ 1,320	0	0	0	1,320	0	1,320	0
Other comprehensive income (loss)	68	0	0	0	0	68	68	0
Share-based compensation		0	11	12	4	0	27	0
Dividends - common stock		0	0	0	(371)	0	(371)	0
Dividends - redeemable non-controlling interests	(2)	0	0	0	(2)	0	(2)	0
Repurchases of Company ordinary shares		0	(202)	0	0	0	(202)	0
Ending balance at Mar. 31, 2022		19	(1,156)	6,056	9,514	(1,735)	12,698	14
Beginning balance at Dec. 31, 2022	12,629	19	(1,346)	6,119	9,195	(1,372)	12,615	14
Net income	474	0	0	0	474	0	474	0
Other comprehensive income (loss)	65	0	0	0	0	65	65	0
Share-based compensation		0	60	(27)	(1)	0	32	0
Dividends - common stock		0	0	0	(389)	0	(389)	0
Dividends - redeemable non-controlling interests	(2)	0	0	0	(2)	0	(2)	0
Repurchases of Company ordinary shares		0	(74)	0	0	0	(74)	0
Ending balance at Mar. 31, 2023	$ 12,735	$ 19	$ (1,360)	$ 6,092	$ 9,277	$ (1,307)	$ 12,721	$ 14

Consolidated Statements of Sh_2

Consolidated Statements of Shareholders' Equity (Parentheticals) - $ / shares	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Statement of Stockholders' Equity [Abstract]
Common stock, dividends per share (in dollars per share)	$ 1.19	$ 1.13
Redeemable non-controlling interests, dividends per share (in dollars per share)	$ 15	$ 15

Basis of Presentation

Basis of Presentation	3 Months Ended
Basis of Presentation	Mar. 31, 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 products were moved from our Advanced Polymer Solutions (“APS”) segment and reintegrated into our Olefins and Polyolefins-Americas ( “ O&P-Americas”) and Olefins and Polyolefins-Europe, Asia, International (“O&P-EAI”) segments. This move allows the APS 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.

Accounting and Reporting Change

Accounting and Reporting Changes	3 Months Ended
Accounting and Reporting Changes	Mar. 31, 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 March 31, 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	3 Months Ended
Revenues	Mar. 31, 2023
Revenue from Contract with Customer [Abstract]
Revenues [Text Block]	3. Revenues Contract Balances— Contract liabilities were $175 million and $167 million at March 31, 2023 and December 31, 2022, respectively. Revenue recognized in each reporting period, 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 products were moved from our APS segment and reintegrated into our O&P-Americas and O&P-EAI 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 Millions of dollars 2023 2022 Sales and other operating revenues: Olefins and co-products $ 883 $ 1,157 Polyethylene 2,016 2,707 Polypropylene 1,526 2,263 Propylene oxide and derivatives 641 885 Oxyfuels and related products 1,233 1,254 Intermediate chemicals 746 1,110 Compounding and solutions 995 1,135 Refined products 2,057 2,458 Other 150 188 Total $ 10,247 $ 13,157 The following table presents our revenues disaggregated by geography, based upon the location of the customer: Three Months Ended Millions of dollars 2023 2022 Sales and other operating revenues: United States $ 4,852 $ 6,074 Germany 786 995 China 514 656 Mexico 430 442 Italy 376 518 Japan 365 423 France 294 387 Poland 239 395 The Netherlands 233 390 Other 2,158 2,877 Total $ 10,247 $ 13,157

Accounts Receivable

Accounts Receivable	3 Months Ended
Accounts Receivable	Mar. 31, 2023
Receivables [Abstract]
Accounts Receivable [Text Block]	4. Accounts Receivable Our accounts receivable are reflected in the Consolidated Balance Sheets, net of allowance for credit losses of $6 million as of March 31, 2023 and December 31, 2022.

Inventories

Inventories	3 Months Ended
Inventories	Mar. 31, 2023
Inventory Disclosure [Abstract]
Inventories [Text Block]	5. Inventories Inventories consisted of the following components: Millions of dollars March 31, December 31, Finished goods $ 3,443 $ 3,027 Work-in-process 219 227 Raw materials and supplies 1,496 1,550 Total inventories $ 5,158 $ 4,804

Debt

Debt	3 Months Ended
Debt	Mar. 31, 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 March 31, 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% 425 424 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) 529 518 Guaranteed Notes due 2027, $1,000 million, 3.5% ($2 million of discount; $2 million of debt issuance cost) 590 587 Guaranteed Notes due 2031, €500 million, 1.625% ($4 million of discount; $3 million of debt issuance cost) 528 516 Issued by LYB International Finance III LLC: Guaranteed Notes due 2025, $500 million, 1.25% ($1 million of discount; $2 million of debt issuance cost) 477 475 Guaranteed Notes due 2030, $500 million, 3.375% ($1 million of debt issuance cost) 124 120 Guaranteed Notes due 2030, $500 million, 2.25% ($3 million of discount; $3 million of debt issuance cost) 473 469 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; $11 million of debt issuance cost) 914 897 Guaranteed Notes due 2060, $500 million, 3.8% ($4 million of discount; $6 million of debt issuance cost) 484 481 Other 44 42 Total 11,033 10,972 Less current maturities (432) (432) Long-term debt $ 10,601 $ 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 March 31, December 31, Millions of dollars 2023 2022 2023 2022 Guaranteed Notes due 2025, 1.25% $ (2) $ 7 $ 12 $ 14 Guaranteed Notes due 2026, 0.875% (1) 4 12 13 Guaranteed Notes due 2027, 3.5% (3) 19 (3) — Guaranteed Notes due 2030, 3.375% (4) 10 17 21 Guaranteed Notes due 2030, 2.25% (3) 10 21 24 Guaranteed Notes due 2031, 1.625% (2) — 9 11 Guaranteed Notes due 2050, 4.2% (2) 5 11 13 Guaranteed Notes due 2051, 3.625% (17) 29 73 90 Guaranteed Notes due 2060, 3.8% (3) — 6 9 Total $ (37) $ 84 $ 158 $ 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 March 31, December 31, U.S. Receivables Facility $ — $ — Commercial paper 200 200 Precious metal financings 142 131 Other 1 18 Total Short-term debt $ 343 $ 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. Borrowings under the facility bear interest at either a base rate, LIBOR rate or EURIBOR rate, plus an applicable margin. Additional fees are incurred for the average daily unused commitments. At March 31, 2023, we had no borrowings or letters of credit outstanding and $3,050 million of unused availability under this facility. 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. This facility also provides for the issuance of letters of credit up to $200 million. At March 31, 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”). Interest rates on commercial paper outstanding at March 31, 2023 are based on the terms of the notes and range from 4.90% to 4.98%. At March 31, 2023, we had $200 million of outstanding commercial paper. Weighted Average Interest Rate —At March 31, 2023 and December 31, 2022, our weighted average interest rates on outstanding Short-term debt were 4.0% and 3.7%, respectively. Additional Information Debt Compliance —As of March 31, 2023, we are in compliance with our debt covenants. Supply Chain Finance Arrangements We facilitate a voluntary supply chain finance (“SCF”) 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. We have no economic impact 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 March 31, 2023 and December 31, 2022, Accounts payable-Trade included $63 million and $53 million, respectively, payable to suppliers who have elected to participate in the supply chain financing program. We do not believe that future changes in the availability of supply chain financing will have a significant impact on our liquidity.

Financial Instruments and Fair

Financial Instruments and Fair Value Measurements	3 Months Ended
Financial Instruments and Fair Value Measurements	Mar. 31, 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: March 31, 2023 December 31, 2022 Millions of dollars Notional Amount Fair Value Notional Amount Fair Value Balance Sheet Assets– Derivatives designated as hedges: Commodities $ 8 $ 2 $ — $ — Prepaid expenses and other current assets Commodities 32 4 — — Other assets Foreign currency 903 114 903 109 Prepaid expenses and other current assets Foreign currency 2,099 114 2,725 133 Other assets Interest rates — 28 — 16 Prepaid expenses and other current assets Interest rates 400 10 400 25 Other assets Derivatives not designated as hedges: Commodities 215 39 192 27 Prepaid expenses and other current assets Foreign currency 144 1 160 — Prepaid expenses and other current assets Total $ 3,801 $ 312 $ 4,380 $ 310 Liabilities– Derivatives designated as hedges: Commodities $ 16 $ 2 $ 35 $ 14 Accrued liabilities Commodities 24 4 — — Other liabilities Foreign currency — 27 — 15 Accrued liabilities Foreign currency 1,500 29 650 8 Other liabilities Interest rates — 26 — 23 Accrued liabilities Interest rates 2,168 191 2,164 229 Other liabilities Derivatives not designated as hedges: Commodities 143 8 50 11 Accrued liabilities Commodities 11 2 7 3 Other liabilities Foreign currency 423 11 236 6 Accrued liabilities Total $ 4,285 $ 300 $ 3,142 $ 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: March 31, 2023 December 31, 2022 Millions of dollars Carrying Fair Carrying Fair Precious metal financings $ 142 $ 114 $ 131 $ 113 Long-term debt 10,580 9,201 10,517 8,882 Total $ 10,722 $ 9,315 $ 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: March 31, 2023 December 31, 2022 Millions of dollars Notional Amount Notional Amount Maturity Date Derivatives designated as hedges: Cash flow hedges $ 80 $ 35 2023 to 2026 Derivatives not designated as hedges: Commodity contracts 369 249 2023 to 2024 Interest Rates —The following table presents the notional amounts of our outstanding interest rate derivative instruments: March 31, 2023 December 31, 2022 Millions of dollars Notional Amount Notional Amount Maturity Date Cash flow hedges $ 400 $ 400 2024 Fair value hedges 2,168 2,164 2025 to 2031 Foreign Currency Rates —The following table presents the notional amounts of our outstanding foreign currency derivative instruments: March 31, 2023 December 31, 2022 Millions of dollars Notional Amount Notional Amount Maturity Date Net investment hedges $ 3,352 $ 3,128 2023 to 2030 Cash flow hedges 1,150 1,150 2024 to 2027 Not designated 567 396 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 March 31, 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 $ (5) $ 26 $ 19 $ (11) $ — $ — Cost of sales Foreign currency (55) 44 20 (25) 14 (4) Interest expense Interest rates (14) 112 1 1 23 (77) Interest expense Derivatives not designated as hedges: Commodities — — — — (33) 36 Sales and other operating revenues Commodities — — — — 27 3 Cost of sales Foreign currency — — — — (11) (19) Other income, net Total $ (74) $ 182 $ 40 $ (35) $ 20 $ (61) As of March 31, 2023, on a pre-tax basis, $3 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 March 31, 2023 and December 31, 2022, we had marketable securities classified as Cash and cash equivalents of $1,065 million and $1,191 million, respectively.

Income Taxes

Income Taxes	3 Months Ended
Income Taxes	Mar. 31, 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 (“OECD”)’s Pillar One and Two legislation which focus on taxing rights and minimum taxes in countries where we operate, including the United Kingdom; however, we do not expect the impact to be material based on the principles agreed to at this stage. Our effective income tax rate for the first quarter of 2023 was 26.0% compared with 19.3% for the first quarter of 2022. The higher effective tax rate for the first quarter of 2023 was primarily due to the first quarter 2023 goodwill impairment, for which there is no tax benefit, of 6.6%.

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
Commitments and Contingencies	Mar. 31, 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 $126 million and $127 million as of March 31, 2023 and December 31, 2022, respectively. At March 31, 2023, the accrued liabilities for individual sites range from less than $1 million to $25 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 March 31, 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	3 Months Ended
	Mar. 31, 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 dividends paid in the periods presented: Millions of dollars, except per share amounts Dividend Per Aggregate Date of Record March 2023 - Quarterly dividend $ 1.19 $ 389 March 6, 2023 Share Repurchase Authorization —In May 2022, our shareholders approved a proposal to authorize us to repurchase up to 34.0 million ordinary shares, through November 27, 2023 (“2022 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 three months ended March 31, 2023: 2022 Share Repurchase Authorization 846,500 $ 87.28 $ 74 For three months ended March 31, 2022: 2021 Share Repurchase Authorization 2,073,378 $ 97.70 $ 202 Total cash paid for share repurchases for the three months ended March 31, 2023 and 2022 was $70 million and $217 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: Three Months Ended 2023 2022 Ordinary shares outstanding: Beginning balance 325,723,567 329,536,389 Share-based compensation 516,142 123,550 Employee stock purchase plan 75,392 57,473 Purchase of ordinary shares (846,500) (2,073,378) Ending balance 325,468,601 327,644,034 Treasury Shares— The changes in the amounts of treasury shares held by the Company are as follows: Three Months Ended 2023 2022 Ordinary shares held as treasury shares: Beginning balance 14,698,931 10,675,605 Share-based compensation (516,142) (123,550) Employee stock purchase plan (75,392) — Purchase of ordinary shares 846,500 2,073,378 Ending balance 14,953,897 12,625,433 Accumulated Other Comprehensive Loss —The components of, and after-tax changes in, Accumulated other comprehensive loss as of and for the three months ended March 31, 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 (35) — 49 14 Tax benefit before reclassifications 9 — 10 19 Amounts reclassified from accumulated other comprehensive loss 40 3 — 43 Tax expense (10) (1) — (11) Net other comprehensive income 4 2 59 65 Balance – March 31, 2023 $ (142) $ (180) $ (985) $ (1,307) Millions of dollars Financial Defined Benefit Foreign Total Balance – December 31, 2021 $ (354) $ (528) $ (921) $ (1,803) Other comprehensive income (loss) before reclassifications 147 — (14) 133 Tax expense before reclassifications (32) — (11) (43) Amounts reclassified from accumulated other comprehensive loss (35) 8 — (27) Tax (expense) benefit 8 (3) — 5 Net other comprehensive income (loss) 88 5 (25) 68 Balance – March 31, 2022 $ (266) $ (523) $ (946) $ (1,735) The amounts reclassified out of each component of Accumulated other comprehensive loss are as follows: Three Months Ended Affected Line Item on Millions of dollars 2023 2022 Reclassification adjustments for: Financial derivatives: Commodities $ 19 $ (11) Cost of sales Foreign currency 20 (25) Interest expense Interest rates 1 1 Interest expense Income tax (expense) benefit (10) 8 Provision for income taxes Financial derivatives, net of tax 30 (27) Amortization of defined pension items: Actuarial loss 2 7 Other income, net Prior service cost 1 1 Other income, net Income tax expense (1) (3) Provision for income taxes Defined pension items, net of tax 2 5 Total reclassifications, before tax 43 (27) Income tax (expense) benefit (11) 5 Provision for income taxes Total reclassifications, after tax $ 32 $ (22) 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 March 31, 2023 and December 31, 2022, we had 113,466 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.

Per Share Data

Per Share Data	3 Months Ended
Per Share Data	Mar. 31, 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 calculate basic and diluted earnings per share under the two-class method. Earnings per share data is as follows: Three Months Ended March 31, 2023 2022 Millions of dollars Continuing Discontinued Continuing Discontinued Net income (loss) $ 475 $ (1) $ 1,321 $ (1) Dividends on redeemable non-controlling interests (2) — (2) — Net income attributable to participating securities (1) — (2) — Net income (loss) attributable to ordinary shareholders – basic and diluted $ 472 $ (1) $ 1,317 $ (1) Millions of shares, except per share amounts Basic weighted average common stock outstanding 326 326 328 328 Effect of dilutive securities 1 1 1 1 Potential dilutive shares 327 327 329 329 Earnings per share: Basic $ 1.45 $ — $ 4.01 $ — Diluted $ 1.44 $ — $ 4.00 $ —

Segment and Related Information

Segment and Related Information	3 Months Ended
Segment and Related Information	Mar. 31, 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: • O&P-Americas . Our O&P-Americas segment produces and markets olefins and co-products, polyethylene, polypropylene, Catalloy and polybutene-1. • O&P-EAI . Our O&P-EAI segment produces and markets olefins and co-products, polyethylene, polypropylene, Catalloy and polybutene-1. • 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. • 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 oil and other crude oils of varied types and sources available on the U.S. Gulf Coast into refined products, including gasoline and distillates. • Technology . Our Technology segment develops and licenses chemical and polyolefin process technologies and manufactures and sells polyolefin catalysts. Our chief operating decision maker uses EBITDA as the primary measure for reviewing profitability of our segments, and therefore, we have presented EBITDA for all segments. We define EBITDA as earnings 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 March 31, 2023 Millions of dollars O&P- O&P- I&D APS Refining Technology Other Total Sales and other operating revenues: Customers $ 1,727 $ 2,710 $ 2,641 $ 995 $ 2,057 $ 117 $ — $ 10,247 Intersegment 1,081 182 41 2 133 22 (1,461) — 2,808 2,892 2,682 997 2,190 139 (1,461) 10,247 Income (loss) from equity investments 23 1 (6) (1) — — — 17 EBITDA 541 77 426 (226) 246 73 (6) 1,131 Capital expenditures 82 54 179 17 2 17 1 352 Three Months Ended March 31, 2022 Millions of dollars O&P– O&P– I&D APS Refining Technology Other Total Sales and other operating revenues: Customers $ 2,453 $ 3,687 $ 3,276 $ 1,135 $ 2,458 $ 148 $ — $ 13,157 Intersegment 1,281 239 63 1 262 33 (1,879) — 3,734 3,926 3,339 1,136 2,720 181 (1,879) 13,157 Income (loss) from equity investments 33 1 (5) — — — — 29 EBITDA 939 214 546 71 148 103 (1) 2,020 Capital expenditures 135 89 163 15 14 29 1 446 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 March 31, 2023 Property, plant and equipment, net $ 6,337 $ 1,914 $ 5,800 $ 639 $ 193 $ 518 $ 15,401 Equity investments 2,038 1,663 563 2 — — 4,266 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 products 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 products 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 products, 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 determined the APS reporting units goodwill fair value to be $753 million, resulting in 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. 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 connection with the planned exit from the refinery business, during the first quarter of 2023 we expensed accelerated lease amortization costs of $51 million, personnel costs of $16 million, asset retirement cost depreciation of $55 million, and asset retirement obligation accretion of $2 million. In subsequent periods, we expect to incur additional costs primarily consisting of accelerated amortization of operating lease assets of $100 million to $200 million, personnel costs of $40 million to $70 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 March 31, 2023, we recorded asset retirement obligations of $253 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. 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 Millions of dollars 2023 2022 EBITDA: Total segment EBITDA $ 1,137 $ 2,021 Other EBITDA (6) (1) Less: Depreciation and amortization expense (396) (311) Interest expense (116) (74) Add: Interest income 23 2 Income from continuing operations before income taxes $ 642 $ 1,637

Revenues (Tables)

Revenues (Tables)	3 Months Ended
Revenues (Tables)	Mar. 31, 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 products were moved from our APS segment and reintegrated into our O&P-Americas and O&P-EAI 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 Millions of dollars 2023 2022 Sales and other operating revenues: Olefins and co-products $ 883 $ 1,157 Polyethylene 2,016 2,707 Polypropylene 1,526 2,263 Propylene oxide and derivatives 641 885 Oxyfuels and related products 1,233 1,254 Intermediate chemicals 746 1,110 Compounding and solutions 995 1,135 Refined products 2,057 2,458 Other 150 188 Total $ 10,247 $ 13,157 The following table presents our revenues disaggregated by geography, based upon the location of the customer: Three Months Ended Millions of dollars 2023 2022 Sales and other operating revenues: United States $ 4,852 $ 6,074 Germany 786 995 China 514 656 Mexico 430 442 Italy 376 518 Japan 365 423 France 294 387 Poland 239 395 The Netherlands 233 390 Other 2,158 2,877 Total $ 10,247 $ 13,157

Inventories (Tables)

Inventories (Tables)	3 Months Ended
Inventories (Tables)	Mar. 31, 2023
Inventory Disclosure [Abstract]
Schedule of inventory [Table Text Block]	Inventories consisted of the following components: Millions of dollars March 31, December 31, Finished goods $ 3,443 $ 3,027 Work-in-process 219 227 Raw materials and supplies 1,496 1,550 Total inventories $ 5,158 $ 4,804

Debt (Tables)

Debt (Tables)	3 Months Ended
Debt (Tables)	Mar. 31, 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 March 31, 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% 425 424 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) 529 518 Guaranteed Notes due 2027, $1,000 million, 3.5% ($2 million of discount; $2 million of debt issuance cost) 590 587 Guaranteed Notes due 2031, €500 million, 1.625% ($4 million of discount; $3 million of debt issuance cost) 528 516 Issued by LYB International Finance III LLC: Guaranteed Notes due 2025, $500 million, 1.25% ($1 million of discount; $2 million of debt issuance cost) 477 475 Guaranteed Notes due 2030, $500 million, 3.375% ($1 million of debt issuance cost) 124 120 Guaranteed Notes due 2030, $500 million, 2.25% ($3 million of discount; $3 million of debt issuance cost) 473 469 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; $11 million of debt issuance cost) 914 897 Guaranteed Notes due 2060, $500 million, 3.8% ($4 million of discount; $6 million of debt issuance cost) 484 481 Other 44 42 Total 11,033 10,972 Less current maturities (432) (432) Long-term debt $ 10,601 $ 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 March 31, December 31, Millions of dollars 2023 2022 2023 2022 Guaranteed Notes due 2025, 1.25% $ (2) $ 7 $ 12 $ 14 Guaranteed Notes due 2026, 0.875% (1) 4 12 13 Guaranteed Notes due 2027, 3.5% (3) 19 (3) — Guaranteed Notes due 2030, 3.375% (4) 10 17 21 Guaranteed Notes due 2030, 2.25% (3) 10 21 24 Guaranteed Notes due 2031, 1.625% (2) — 9 11 Guaranteed Notes due 2050, 4.2% (2) 5 11 13 Guaranteed Notes due 2051, 3.625% (17) 29 73 90 Guaranteed Notes due 2060, 3.8% (3) — 6 9 Total $ (37) $ 84 $ 158 $ 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 March 31, December 31, U.S. Receivables Facility $ — $ — Commercial paper 200 200 Precious metal financings 142 131 Other 1 18 Total Short-term debt $ 343 $ 349

Financial Instruments and Fai_2

Financial Instruments and Fair Value Measurements (Tables)	3 Months Ended
Financial Instruments and Fair Value Measurements (Tables)	Mar. 31, 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: March 31, 2023 December 31, 2022 Millions of dollars Notional Amount Fair Value Notional Amount Fair Value Balance Sheet Assets– Derivatives designated as hedges: Commodities $ 8 $ 2 $ — $ — Prepaid expenses and other current assets Commodities 32 4 — — Other assets Foreign currency 903 114 903 109 Prepaid expenses and other current assets Foreign currency 2,099 114 2,725 133 Other assets Interest rates — 28 — 16 Prepaid expenses and other current assets Interest rates 400 10 400 25 Other assets Derivatives not designated as hedges: Commodities 215 39 192 27 Prepaid expenses and other current assets Foreign currency 144 1 160 — Prepaid expenses and other current assets Total $ 3,801 $ 312 $ 4,380 $ 310 Liabilities– Derivatives designated as hedges: Commodities $ 16 $ 2 $ 35 $ 14 Accrued liabilities Commodities 24 4 — — Other liabilities Foreign currency — 27 — 15 Accrued liabilities Foreign currency 1,500 29 650 8 Other liabilities Interest rates — 26 — 23 Accrued liabilities Interest rates 2,168 191 2,164 229 Other liabilities Derivatives not designated as hedges: Commodities 143 8 50 11 Accrued liabilities Commodities 11 2 7 3 Other liabilities Foreign currency 423 11 236 6 Accrued liabilities Total $ 4,285 $ 300 $ 3,142 $ 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: March 31, 2023 December 31, 2022 Millions of dollars Carrying Fair Carrying Fair Precious metal financings $ 142 $ 114 $ 131 $ 113 Long-term debt 10,580 9,201 10,517 8,882 Total $ 10,722 $ 9,315 $ 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: March 31, 2023 December 31, 2022 Millions of dollars Notional Amount Notional Amount Maturity Date Derivatives designated as hedges: Cash flow hedges $ 80 $ 35 2023 to 2026 Derivatives not designated as hedges: Commodity contracts 369 249 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: March 31, 2023 December 31, 2022 Millions of dollars Notional Amount Notional Amount Maturity Date Cash flow hedges $ 400 $ 400 2024 Fair value hedges 2,168 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: March 31, 2023 December 31, 2022 Millions of dollars Notional Amount Notional Amount Maturity Date Net investment hedges $ 3,352 $ 3,128 2023 to 2030 Cash flow hedges 1,150 1,150 2024 to 2027 Not designated 567 396 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 March 31, 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 $ (5) $ 26 $ 19 $ (11) $ — $ — Cost of sales Foreign currency (55) 44 20 (25) 14 (4) Interest expense Interest rates (14) 112 1 1 23 (77) Interest expense Derivatives not designated as hedges: Commodities — — — — (33) 36 Sales and other operating revenues Commodities — — — — 27 3 Cost of sales Foreign currency — — — — (11) (19) Other income, net Total $ (74) $ 182 $ 40 $ (35) $ 20 $ (61)

Shareholders' Equity and Rede_2

Shareholders' Equity and Redeemable Non-controlling Interests, Shareholders' Equity (Tables)	3 Months Ended
	Mar. 31, 2023
Shareholders Equity and Redeemable Non-controlling Interests Abstract [Abstract]
Dividend distributions [Table Text Block]	Dividend Distributions —The following table summarizes the dividends paid in the periods presented: Millions of dollars, except per share amounts Dividend Per Aggregate Date of Record March 2023 - Quarterly dividend $ 1.19 $ 389 March 6, 2023
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 three months ended March 31, 2023: 2022 Share Repurchase Authorization 846,500 $ 87.28 $ 74 For three months ended March 31, 2022: 2021 Share Repurchase Authorization 2,073,378 $ 97.70 $ 202
Schedule of changes in ordinary and treasury shares outstanding during the period [Table Text Block]	Ordinary Shares —The changes in the outstanding amounts of ordinary shares are as follows: Three Months Ended 2023 2022 Ordinary shares outstanding: Beginning balance 325,723,567 329,536,389 Share-based compensation 516,142 123,550 Employee stock purchase plan 75,392 57,473 Purchase of ordinary shares (846,500) (2,073,378) Ending balance 325,468,601 327,644,034 Treasury Shares— The changes in the amounts of treasury shares held by the Company are as follows: Three Months Ended 2023 2022 Ordinary shares held as treasury shares: Beginning balance 14,698,931 10,675,605 Share-based compensation (516,142) (123,550) Employee stock purchase plan (75,392) — Purchase of ordinary shares 846,500 2,073,378 Ending balance 14,953,897 12,625,433
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 three months ended March 31, 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 (35) — 49 14 Tax benefit before reclassifications 9 — 10 19 Amounts reclassified from accumulated other comprehensive loss 40 3 — 43 Tax expense (10) (1) — (11) Net other comprehensive income 4 2 59 65 Balance – March 31, 2023 $ (142) $ (180) $ (985) $ (1,307) Millions of dollars Financial Defined Benefit Foreign Total Balance – December 31, 2021 $ (354) $ (528) $ (921) $ (1,803) Other comprehensive income (loss) before reclassifications 147 — (14) 133 Tax expense before reclassifications (32) — (11) (43) Amounts reclassified from accumulated other comprehensive loss (35) 8 — (27) Tax (expense) benefit 8 (3) — 5 Net other comprehensive income (loss) 88 5 (25) 68 Balance – March 31, 2022 $ (266) $ (523) $ (946) $ (1,735)
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 Affected Line Item on Millions of dollars 2023 2022 Reclassification adjustments for: Financial derivatives: Commodities $ 19 $ (11) Cost of sales Foreign currency 20 (25) Interest expense Interest rates 1 1 Interest expense Income tax (expense) benefit (10) 8 Provision for income taxes Financial derivatives, net of tax 30 (27) Amortization of defined pension items: Actuarial loss 2 7 Other income, net Prior service cost 1 1 Other income, net Income tax expense (1) (3) Provision for income taxes Defined pension items, net of tax 2 5 Total reclassifications, before tax 43 (27) Income tax (expense) benefit (11) 5 Provision for income taxes Total reclassifications, after tax $ 32 $ (22) Amount included in net income

Per Share Data (Tables)

Per Share Data (Tables)	3 Months Ended
Per Share Data (Tables)	Mar. 31, 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 March 31, 2023 2022 Millions of dollars Continuing Discontinued Continuing Discontinued Net income (loss) $ 475 $ (1) $ 1,321 $ (1) Dividends on redeemable non-controlling interests (2) — (2) — Net income attributable to participating securities (1) — (2) — Net income (loss) attributable to ordinary shareholders – basic and diluted $ 472 $ (1) $ 1,317 $ (1) Millions of shares, except per share amounts Basic weighted average common stock outstanding 326 326 328 328 Effect of dilutive securities 1 1 1 1 Potential dilutive shares 327 327 329 329 Earnings per share: Basic $ 1.45 $ — $ 4.01 $ — Diluted $ 1.44 $ — $ 4.00 $ —

Segment and Related Informati_2

Segment and Related Information (Tables)	3 Months Ended
Segment and Related Information (Tables)	Mar. 31, 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 March 31, 2023 Millions of dollars O&P- O&P- I&D APS Refining Technology Other Total Sales and other operating revenues: Customers $ 1,727 $ 2,710 $ 2,641 $ 995 $ 2,057 $ 117 $ — $ 10,247 Intersegment 1,081 182 41 2 133 22 (1,461) — 2,808 2,892 2,682 997 2,190 139 (1,461) 10,247 Income (loss) from equity investments 23 1 (6) (1) — — — 17 EBITDA 541 77 426 (226) 246 73 (6) 1,131 Capital expenditures 82 54 179 17 2 17 1 352 Three Months Ended March 31, 2022 Millions of dollars O&P– O&P– I&D APS Refining Technology Other Total Sales and other operating revenues: Customers $ 2,453 $ 3,687 $ 3,276 $ 1,135 $ 2,458 $ 148 $ — $ 13,157 Intersegment 1,281 239 63 1 262 33 (1,879) — 3,734 3,926 3,339 1,136 2,720 181 (1,879) 13,157 Income (loss) from equity investments 33 1 (5) — — — — 29 EBITDA 939 214 546 71 148 103 (1) 2,020 Capital expenditures 135 89 163 15 14 29 1 446
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 March 31, 2023 Property, plant and equipment, net $ 6,337 $ 1,914 $ 5,800 $ 639 $ 193 $ 518 $ 15,401 Equity investments 2,038 1,663 563 2 — — 4,266 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
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 Millions of dollars 2023 2022 EBITDA: Total segment EBITDA $ 1,137 $ 2,021 Other EBITDA (6) (1) Less: Depreciation and amortization expense (396) (311) Interest expense (116) (74) Add: Interest income 23 2 Income from continuing operations before income taxes $ 642 $ 1,637

Revenues (Details)

Revenues (Details) - USD ($) $ in Millions	3 Months Ended
Revenues (Details) - USD ($) $ in Millions	Mar. 31, 2023	Mar. 31, 2022	Dec. 31, 2022
Contract with customer, liability [Abstract]
Contract with customer liability	$ 175		$ 167
Revenue recognized included in beginning contract liability	Revenue recognized in each reporting period, included in the contract liability balance at the beginning of the period, was immaterial.	Revenue recognized in each reporting period, included in the contract liability balance at the beginning of the period, was immaterial.

Revenues, Key products (Details

Revenues, Key products (Details) - USD ($) $ in Millions	3 Months Ended
Revenues, Key products (Details) - USD ($) $ in Millions	Mar. 31, 2023	Mar. 31, 2022
Disaggregation of revenue [Abstract]
Sales and other operating revenues	$ 10,247	$ 13,157
Olefins & co-products [Member]
Disaggregation of revenue [Abstract]
Sales and other operating revenues	883	1,157
Polyethylene [Member]
Disaggregation of revenue [Abstract]
Sales and other operating revenues	2,016	2,707
Polypropylene [Member]
Disaggregation of revenue [Abstract]
Sales and other operating revenues	1,526	2,263
Propylene oxide and derivatives [Member]
Disaggregation of revenue [Abstract]
Sales and other operating revenues	641	885
Oxyfuels and related products [Member]
Disaggregation of revenue [Abstract]
Sales and other operating revenues	1,233	1,254
Intermediate chemicals [Member]
Disaggregation of revenue [Abstract]
Sales and other operating revenues	746	1,110
Compounding and solutions [Member]
Disaggregation of revenue [Abstract]
Sales and other operating revenues	995	1,135
Refined products [Member]
Disaggregation of revenue [Abstract]
Sales and other operating revenues	2,057	2,458
Other [Member]
Disaggregation of revenue [Abstract]
Sales and other operating revenues	$ 150	$ 188

Revenues, Geographic locations

Revenues, Geographic locations (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Disaggregation of revenue [Abstract]
Sales and other operating revenues	$ 10,247	$ 13,157
U. S. [Member]
Disaggregation of revenue [Abstract]
Sales and other operating revenues	4,852	6,074
Germany [Member]
Disaggregation of revenue [Abstract]
Sales and other operating revenues	786	995
China [Member]
Disaggregation of revenue [Abstract]
Sales and other operating revenues	514	656
Mexico [Member]
Disaggregation of revenue [Abstract]
Sales and other operating revenues	430	442
Italy [Member]
Disaggregation of revenue [Abstract]
Sales and other operating revenues	376	518
Japan [Member]
Disaggregation of revenue [Abstract]
Sales and other operating revenues	365	423
France [Member]
Disaggregation of revenue [Abstract]
Sales and other operating revenues	294	387
Poland [Member]
Disaggregation of revenue [Abstract]
Sales and other operating revenues	239	395
The Netherlands [Member]
Disaggregation of revenue [Abstract]
Sales and other operating revenues	233	390
Other [Member]
Disaggregation of revenue [Abstract]
Sales and other operating revenues	$ 2,158	$ 2,877

Accounts Receivable (Details)

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

Inventories (Details)

Inventories (Details) - USD ($) $ in Millions	Mar. 31, 2023	Dec. 31, 2022
Inventory, finished goods, work-in-process, and raw materials and supplies [Abstract]
Finished goods	$ 3,443	$ 3,027
Work-in-process	219	227
Raw materials and supplies	1,496	1,550
Total inventories	$ 5,158	$ 4,804

Debt, Long-term debt (Details)

Debt, Long-term debt (Details) € in Millions, $ in Millions	3 Months Ended
Debt, Long-term debt (Details) € in Millions, $ in Millions	Mar. 31, 2023 USD ($)	Mar. 31, 2023 EUR (€)	Dec. 31, 2022 USD ($)
Long-term debt [Line Items]
Long-term debt	$ 11,033		$ 10,972
Current maturities of long-term debt	(432)		(432)
Long-term debt, non-current portion	$ 10,601		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% \| 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	$ 425		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	$ 529		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	$ 590		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	$ 528		516
Guaranteed Notes due 2025, $500 million, 1.25% ($1 million of discount; $2 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	2
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	$ 124		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	$ 473		469
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; $11 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	11
Long-term debt	$ 914		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	484		481
Other long-term debt [Member]
Long-term debt [Line Items]
Long-term debt	$ 44		$ 42

Debt, Description of fair value

Debt, Description of fair value adjustments for guaranteed notes (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Dec. 31, 2022
Debt Instrument [Line Items]
Gain (loss) on fair value adjustments of the hedged item related to interest rate swaps	$ (37)	$ 84
Cumulative fair value hedging adjustments included in carrying amount of debt	$ 158		$ 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%
Gain (loss) on fair value adjustments of the hedged item related to interest rate swaps	$ (2)	7
Cumulative fair value hedging adjustments included in carrying amount of debt	$ 12		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%
Gain (loss) on fair value adjustments of the hedged item related to interest rate swaps	$ (1)	4
Cumulative fair value hedging adjustments included in carrying amount of debt	$ 12		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%
Gain (loss) on fair value adjustments of the hedged item related to interest rate swaps	$ (3)	19
Cumulative fair value hedging adjustments included in carrying amount of debt	$ (3)		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%
Gain (loss) on fair value adjustments of the hedged item related to interest rate swaps	$ (4)	10
Cumulative fair value hedging adjustments included in carrying amount of debt	$ 17		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%
Gain (loss) on fair value adjustments of the hedged item related to interest rate swaps	$ (3)	10
Cumulative fair value hedging adjustments included in carrying amount of debt	$ 21		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%
Gain (loss) on fair value adjustments of the hedged item related to interest rate swaps	$ (2)
Cumulative fair value hedging adjustments included in carrying amount of debt	$ 9		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%
Gain (loss) on fair value adjustments of the hedged item related to interest rate swaps	$ (2)	5
Cumulative fair value hedging adjustments included in carrying amount of debt	$ 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%
Gain (loss) on fair value adjustments of the hedged item related to interest rate swaps	$ (17)	$ 29
Cumulative fair value hedging adjustments included in carrying amount of debt	$ 73		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%
Gain (loss) on fair value adjustments of the hedged item related to interest rate swaps	$ (3)
Cumulative fair value hedging adjustments included in carrying amount of debt	$ 6		$ 9

Debt, Short-term debt (Details)

Debt, Short-term debt (Details) - USD ($) $ in Millions	Mar. 31, 2023	Dec. 31, 2022
Short-term debt [Line Items]
Short-term debt	$ 343	$ 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	200	200
Precious metal financings [Member]
Short-term debt [Line Items]
Short-term debt	142	131
Other short-term debt [Member]
Short-term debt [Line Items]
Short-term debt	$ 1	$ 18

Debt, Description of long-term

Debt, Description of long-term debt (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Dec. 31, 2022
Long-term debt [Line Items]
Outstanding borrowings	$ 11,033	$ 10,972
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, LIBOR rate 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	$ 3,050

Debt, Description of short-term

Debt, Description of short-term debt (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Dec. 31, 2022
Description of short-term debt [Line Items]
Outstanding short-term borrowings	$ 343
Weighted average interest rate, short-term debt (in hundredths)	4%	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.
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	$ 200
Description of interest rate	Interest rates on commercial paper outstanding at March 31, 2023 are based on the terms of the notes and range from 4.90% to 4.98%

Debt, Covenant Compliance (Deta

Debt, Covenant Compliance (Details)	3 Months Ended
Debt, Covenant Compliance (Details)	Mar. 31, 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	Mar. 31, 2023	Dec. 31, 2022
Supplier finance program [Abstract]
Supplier finance program payment period	90 days
Supplier finance program obligation, current in Accounts payable-Trade	$ 63	$ 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	Mar. 31, 2023	Dec. 31, 2022
Derivative and non-derivative assets and liabilities at fair value, net, by balance sheet classification [Abstract]
Notional amount, derivative and non-derivative financial instruments assets	$ 3,801	$ 4,380
Notional amount, derivative and non-derivative financial instruments liabilities	4,285	3,142
Fair value, derivative and non-derivative financial instruments assets	312	310
Fair value, derivative and non-derivative financial instruments liabilities	300	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]
Notional amount, derivative and non-derivative financial instruments assets	8	0
Fair value, derivative and non-derivative financial instruments assets	2	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]
Notional amount, derivative and non-derivative financial instruments assets	32	0
Fair value, derivative and non-derivative financial instruments assets	4	0
Derivative [Member] \| Designated as hedges: [Member] \| Commodities [Member] \| Accrued liabilities [Member] \| Fair value, inputs, level 2 [Member]
Derivative and non-derivative assets and liabilities at fair value, net, by balance sheet classification [Abstract]
Notional amount, derivative and non-derivative financial instruments liabilities	16	35
Fair value, derivative and non-derivative financial instruments liabilities	2	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]
Notional amount, derivative and non-derivative financial instruments liabilities	24	0
Fair value, derivative and non-derivative financial instruments liabilities	4	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]
Notional amount, derivative and non-derivative financial instruments assets	903	903
Fair value, derivative and non-derivative financial instruments assets	114	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]
Notional amount, derivative and non-derivative financial instruments assets	2,099	2,725
Fair value, derivative and non-derivative financial instruments assets	114	133
Derivative [Member] \| Designated as hedges: [Member] \| Foreign currency [Member] \| Accrued liabilities [Member] \| Fair value, inputs, level 2 [Member]
Derivative and non-derivative assets and liabilities at fair value, net, by balance sheet classification [Abstract]
Notional amount, derivative and non-derivative financial instruments liabilities	0	0
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]
Notional amount, derivative and non-derivative financial instruments liabilities	1,500	650
Fair value, derivative and non-derivative financial instruments liabilities	29	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]
Notional amount, derivative and non-derivative financial instruments assets	0	0
Fair value, derivative and non-derivative financial instruments assets	28	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]
Notional amount, derivative and non-derivative financial instruments assets	400	400
Fair value, derivative and non-derivative financial instruments assets	10	25
Derivative [Member] \| Designated as hedges: [Member] \| Interest rate contract [Member] \| Accrued liabilities [Member] \| Fair value, inputs, level 2 [Member]
Derivative and non-derivative assets and liabilities at fair value, net, by balance sheet classification [Abstract]
Notional amount, derivative and non-derivative financial instruments liabilities	0	0
Fair value, derivative and non-derivative financial instruments liabilities	26	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]
Notional amount, derivative and non-derivative financial instruments liabilities	2,168	2,164
Fair value, derivative and non-derivative financial instruments liabilities	191	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]
Notional amount, derivative and non-derivative financial instruments assets	215	192
Fair value, derivative and non-derivative financial instruments assets	39	27
Derivative [Member] \| Not designated as hedges: [Member] \| Commodities [Member] \| Accrued liabilities [Member] \| Fair value, inputs, level 2 [Member]
Derivative and non-derivative assets and liabilities at fair value, net, by balance sheet classification [Abstract]
Notional amount, derivative and non-derivative financial instruments liabilities	143	50
Fair value, derivative and non-derivative financial instruments liabilities	8	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]
Notional amount, derivative and non-derivative financial instruments liabilities	11	7
Fair value, derivative and non-derivative financial instruments liabilities	2	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]
Notional amount, derivative and non-derivative financial instruments assets	144	160
Fair value, derivative and non-derivative financial instruments assets	1	0
Derivative [Member] \| Not designated as hedges: [Member] \| Foreign currency [Member] \| Accrued liabilities [Member] \| Fair value, inputs, level 2 [Member]
Derivative and non-derivative assets and liabilities at fair value, net, by balance sheet classification [Abstract]
Notional amount, derivative and non-derivative financial instruments liabilities	423	236
Fair value, derivative and non-derivative financial instruments liabilities	$ 11	$ 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	3 Months Ended
	Mar. 31, 2023	Dec. 31, 2022
Liabilities: [Abstract]
Precious metal financings, carrying value	$ 343	$ 349
Nonrecurring [Member] \| Non-derivatives: [Member]
Liabilities: [Abstract]
Precious metal financings, carrying value	142	131
Long-term debt, carrying value	10,580	10,517
Total liabilities, carrying value	10,722	10,648
Precious metal financings, fair value	114	113
Long-term debt, fair value	9,201	8,882
Total liabilities, fair value	$ 9,315	$ 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] - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Dec. 31, 2022
Designated as hedges: [Member] \| Cash flow hedging [Member]
Derivative [Line Items]
Notional amount	$ 80	$ 35
Designated as hedges: [Member] \| Cash flow hedging [Member] \| Minimum [Member]
Derivative [Line Items]
Maturity date	2023
Designated as hedges: [Member] \| Cash flow hedging [Member] \| Maximum [Member]
Derivative [Line Items]
Maturity date	2026
Not designated as hedges [Member]
Derivative [Line Items]
Notional amount	$ 369	$ 249
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_6

Financial Instruments and Fair Value Measurements, Summary of interest rate hedges (Details) - Interest rate contract [Member] - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Dec. 31, 2022
Cash flow hedge [Member]
Derivative [Line Items]
Notional amount	$ 400	$ 400
Maturity date	2024
Fair value hedge [Member]
Derivative [Line Items]
Notional amount	$ 2,168	$ 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	3 Months Ended
	Mar. 31, 2023	Dec. 31, 2022
Designated as hedges: [Member] \| Derivative [Member] \| Net investment hedges [Member]
Derivative [Line Items]
Notional amount	$ 3,352	$ 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	$ 567	$ 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
	Mar. 31, 2023	Mar. 31, 2022
Derivative Instruments, gain (loss) [Line Items]
Gain (loss) recognized in AOCI	$ (74)	$ 182
Gain (loss) reclassified to income from AOCI	40	(35)
Additional gain (loss) recognized in income	20	(61)
Interest expense [Member]
Derivative Instruments, gain (loss) [Line Items]
Pre-tax unrealized gain (loss) to be reclassified to earnings over the next twelve months	(3)
Derivatives: [Member] \| Designated as hedges: [Member] \| Commodities [Member] \| Cost of sales [Member]
Derivative Instruments, gain (loss) [Line Items]
Gain (loss) recognized in AOCI	(5)	26
Gain (loss) reclassified to income from AOCI	19	(11)
Additional gain (loss) recognized in income	0	0
Derivatives: [Member] \| Designated as hedges: [Member] \| Foreign currency [Member] \| Interest expense [Member]
Derivative Instruments, gain (loss) [Line Items]
Gain (loss) recognized in AOCI	(55)	44
Gain (loss) reclassified to income from AOCI	20	(25)
Additional gain (loss) recognized in income	14	(4)
Derivatives: [Member] \| Designated as hedges: [Member] \| Interest rate contract [Member] \| Interest expense [Member]
Derivative Instruments, gain (loss) [Line Items]
Gain (loss) recognized in AOCI	(14)	112
Gain (loss) reclassified to income from AOCI	1	1
Additional gain (loss) recognized in income	23	(77)
Derivatives: [Member] \| Not designated as hedges [Member] \| Commodities [Member] \| Sales and other operating revenues [Member]
Derivative Instruments, gain (loss) [Line Items]
Gain (loss) recognized in AOCI	0	0
Gain (loss) reclassified to income from AOCI	0	0
Additional gain (loss) recognized in income	(33)	36
Derivatives: [Member] \| Not designated as hedges [Member] \| Commodities [Member] \| Cost of sales [Member]
Derivative Instruments, gain (loss) [Line Items]
Gain (loss) recognized in AOCI	0	0
Gain (loss) reclassified to income from AOCI	0	0
Additional gain (loss) recognized in income	27	3
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
Gain (loss) reclassified to income from AOCI	0	0
Additional gain (loss) recognized in income	$ (11)	$ (19)

Financial Instruments and Fai_9

Financial Instruments and Fair Value Measurements, Summary of marketable securities (Details) - USD ($) $ in Millions	Mar. 31, 2023	Dec. 31, 2022
Cash and cash equivalents [Abstract]
Amount of marketable securities classified as cash and cash equivalents	$ 1,065	$ 1,191

Income Taxes (Details)

Income Taxes (Details)	3 Months Ended
Income Taxes (Details)	Mar. 31, 2023	Mar. 31, 2022
Effective income tax rate reconciliation, percent [Abstract]
Effective income tax rate (in hundredths)	26%	19.30%
Income tax (expense) benefit [Abstract]
Nondeductible expense, goodwill impairment losses, percent	6.60%

Commitments and Contingencies (

Commitments and Contingencies (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Dec. 31, 2022
Site contingency [Line Items]
Future environmental remediation costs	$ 126	$ 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	$ 25

Commitments and Contingencies,

Commitments and Contingencies, Indemnification (Details)	3 Months Ended
Commitments and Contingencies, Indemnification (Details)	Mar. 31, 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) - Mar 2023 Quarterly dividend [Member] $ / shares in Units, $ in Millions	1 Months Ended
	Mar. 31, 2023 USD ($) $ / shares
Dividends Payable [Line Items]
Dividend per ordinary share (per share) \| $ / shares	$ 1.19
Aggregate dividends paid \| $	$ 389
Date of record	Mar. 06, 2023

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	3 Months Ended
	May 31, 2022	Mar. 31, 2023	Mar. 31, 2022
Share repurchase authorization [Line Items]
Cash paid for shares repurchased		$ 70	$ 217
2021 Share Repurchase Authorization [Member]
Share repurchase authorization [Line Items]
Shares repurchased (in shares)			2,073,378
Average purchase price (in dollars per share)			$ 97.70
Total purchase price, including commissions and fees			$ 202
2022 Share Repurchase Authorization [Member]
Share repurchase authorization [Line Items]
Shares authorized to be repurchased	34,000,000
Share repurchase authorization expiration date	Nov. 27, 2023
Shares repurchased (in shares)		846,500
Average purchase price (in dollars per share)		$ 87.28
Total purchase price, including commissions and fees		$ 74

Shareholders' Equity and Rede_5

Shareholders' Equity and Redeemable Non-controlling Interests, Shareholders' Equity, Ordinary shares (Details) - shares	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Ordinary share outstanding [Abstract]
Beginning balance (in shares)	325,723,567
Ending balance (in shares)	325,468,601
Ordinary shares [Member]
Ordinary share outstanding [Abstract]
Beginning balance (in shares)	325,723,567	329,536,389
Share-based compensation (in shares)	516,142	123,550
Employee stock purchase plan (in shares)	75,392	57,473
Purchase of ordinary shares (in shares)	(846,500)	(2,073,378)
Ending balance (in shares)	325,468,601	327,644,034

Shareholders' Equity and Rede_6

Shareholders' Equity and Redeemable Non-controlling Interests, Shareholders' Equity, Treasury shares (Details) - Treasury shares [Member] - shares	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Increase (Decrease) in Treasury Stock [Roll Forward]
Beginning balance (in shares)	14,698,931	10,675,605
Share-based compensation (in shares)	(516,142)	(123,550)
Employee stock purchase plan (in shares)	(75,392)	0
Purchase of ordinary shares (in shares)	846,500	2,073,378
Ending balance (in shares)	14,953,897	12,625,433

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	3 Months Ended
	Mar. 31, 2023	Mar. 31, 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	14	133
Tax (expense) benefit before reclassifications	19	(43)
Amounts reclassified from accumulated other comprehensive income (loss)	43	(27)
Tax (expense) benefit	(11)	5
Net other comprehensive income (loss)	65	68
Accumulated other comprehensive income (loss), end of period	(1,307)	(1,735)
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	(35)	147
Tax (expense) benefit before reclassifications	9	(32)
Amounts reclassified from accumulated other comprehensive income (loss)	40	(35)
Tax (expense) benefit	(10)	8
Net other comprehensive income (loss)	4	88
Accumulated other comprehensive income (loss), end of period	(142)	(266)
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	0
Tax (expense) benefit before reclassifications	0	0
Amounts reclassified from accumulated other comprehensive income (loss)	3	8
Tax (expense) benefit	(1)	(3)
Net other comprehensive income (loss)	2	5
Accumulated other comprehensive income (loss), end of period	(180)	(523)
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	49	(14)
Tax (expense) benefit before reclassifications	10	(11)
Amounts reclassified from accumulated other comprehensive income (loss)	0	0
Tax (expense) benefit	0	0
Net other comprehensive income (loss)	59	(25)
Accumulated other comprehensive income (loss), end of period	$ (985)	$ (946)

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
	Mar. 31, 2023	Mar. 31, 2022
Reclassification adjustments out of accumulated other comprehensive income (loss) [Line Items]
Sales and other operating revenue	$ 10,247	$ 13,157
Cost of sales	8,864	11,136
Interest expense (income)	116	74
Income (loss) before income taxes	642	1,637
Income tax (expense) benefit	(167)	(316)
Net income	474	1,320
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	43	(27)
Income tax (expense) benefit	(11)	5
Net income	32	(22)
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	(10)	8
Net income	30	(27)
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	19	(11)
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)	20	(25)
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
Amortization of defined pension items [Member] \| Amounts reclassified out of accumulated other comprehensive income (loss) [Member]
Reclassification adjustments out of accumulated other comprehensive income (loss) [Line Items]
Amortization of actuarial (gain) loss	2	7
Amortization of prior service cost (benefit)	1	1
Income tax (expense) benefit	(1)	(3)
Net income	$ 2	$ 5

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
	Feb. 28, 2023	Mar. 31, 2023	Mar. 31, 2022	Dec. 31, 2022
Temporary Equity [Abstract]
Cumulative redeemable non-controlling interest stock outstanding		113,466		113,471
Redeemable non-controlling interests, dividends per share (in dollars per share)	$ 15	$ 15	$ 15
Date of record redeemable non-controlling interest shareholders	Jan. 15, 2023
Dividends on redeemable non-controlling interests		$ 2	$ 2

Per Share Data (Details)

Per Share Data (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Earnings per share reconciliation [Abstract]
Net income (loss)	$ 474	$ 1,320
Dividends on redeemable non-controlling interests	$ (2)	$ (2)
Earnings per share, Basic [Abstract]
Basic (in dollars per share)	$ 1.45	$ 4.01
Earnings per share, Diluted [Abstract]
Diluted (in dollars per share)	$ 1.44	$ 4
Continuing operations [Member]
Earnings per share reconciliation [Abstract]
Net income (loss)	$ 475	$ 1,321
Dividends on redeemable non-controlling interests	(2)	(2)
Net (income) loss attributable to participating securities	(1)	(2)
Net income (loss) attributable to ordinary shareholders - Basic	472	1,317
Net income (loss) attributable to ordinary shareholders - Diluted	$ 472	$ 1,317
Weighted average number of shares outstanding reconciliation [Abstract]
Basic weighted average common stock outstanding (in shares)	326	328
Effect of dilutive securities: [Abstract]
Effect of dilutive securities (in shares)	1	1
Potential dilutive shares (in shares)	327	329
Earnings per share, Basic [Abstract]
Basic (in dollars per share)	$ 1.45	$ 4.01
Earnings per share, Diluted [Abstract]
Diluted (in dollars per share)	$ 1.44	$ 4
Discontinued operations [Member]
Earnings per share reconciliation [Abstract]
Net income (loss)	$ (1)	$ (1)
Dividends on redeemable non-controlling interests	0	0
Net (income) loss attributable to participating securities	0	0
Net income (loss) attributable to ordinary shareholders - Basic	(1)	(1)
Net income (loss) attributable to ordinary shareholders - Diluted	$ (1)	$ (1)
Weighted average number of shares outstanding reconciliation [Abstract]
Basic weighted average common stock outstanding (in shares)	326	328
Effect of dilutive securities: [Abstract]
Effect of dilutive securities (in shares)	1	1
Potential dilutive shares (in shares)	327	329
Earnings per share, Basic [Abstract]
Basic (in dollars per share)	$ 0	$ 0
Earnings per share, Diluted [Abstract]
Diluted (in dollars per share)	$ 0	$ 0

Segment and Related Informati_3

Segment and Related Information (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Summarized financial information concerning reportable segments: [Abstract]
Sales and other operating revenues	$ 10,247	$ 13,157
Income (loss) from equity investments	17	29
EBITDA	1,131	2,020
Capital expenditures	352	446
O&P - Americas [Member]
Summarized financial information concerning reportable segments: [Abstract]
Sales and other operating revenues	1,727	2,453
Income (loss) from equity investments	23	33
EBITDA	541	939
Capital expenditures	82	135
O&P - EAI [Member]
Summarized financial information concerning reportable segments: [Abstract]
Sales and other operating revenues	2,710	3,687
Income (loss) from equity investments	1	1
EBITDA	77	214
Capital expenditures	54	89
I&D [Member]
Summarized financial information concerning reportable segments: [Abstract]
Sales and other operating revenues	2,641	3,276
Income (loss) from equity investments	(6)	(5)
EBITDA	426	546
Capital expenditures	179	163
APS [Member]
Summarized financial information concerning reportable segments: [Abstract]
Sales and other operating revenues	995	1,135
Income (loss) from equity investments	(1)	0
EBITDA	(226)	71
Capital expenditures	17	15
Refining [Member]
Summarized financial information concerning reportable segments: [Abstract]
Sales and other operating revenues	2,057	2,458
Income (loss) from equity investments	0	0
EBITDA	246	148
Capital expenditures	2	14
Technology [Member]
Summarized financial information concerning reportable segments: [Abstract]
Sales and other operating revenues	117	148
Income (loss) from equity investments	0	0
EBITDA	73	103
Capital expenditures	17	29
Other [Member]
Summarized financial information concerning reportable segments: [Abstract]
Sales and other operating revenues	0	0
Income (loss) from equity investments	0	0
EBITDA	(6)	(1)
Capital expenditures	1	1
Intersegment elimination [Member]
Summarized financial information concerning reportable segments: [Abstract]
Sales and other operating revenues	0	0
Intersegment elimination [Member] \| O&P - Americas [Member]
Summarized financial information concerning reportable segments: [Abstract]
Sales and other operating revenues	1,081	1,281
Intersegment elimination [Member] \| O&P - EAI [Member]
Summarized financial information concerning reportable segments: [Abstract]
Sales and other operating revenues	182	239
Intersegment elimination [Member] \| I&D [Member]
Summarized financial information concerning reportable segments: [Abstract]
Sales and other operating revenues	41	63
Intersegment elimination [Member] \| APS [Member]
Summarized financial information concerning reportable segments: [Abstract]
Sales and other operating revenues	2	1
Intersegment elimination [Member] \| Refining [Member]
Summarized financial information concerning reportable segments: [Abstract]
Sales and other operating revenues	133	262
Intersegment elimination [Member] \| Technology [Member]
Summarized financial information concerning reportable segments: [Abstract]
Sales and other operating revenues	22	33
Intersegment elimination [Member] \| Other [Member]
Summarized financial information concerning reportable segments: [Abstract]
Sales and other operating revenues	(1,461)	(1,879)
Operating segments [Member]
Summarized financial information concerning reportable segments: [Abstract]
Sales and other operating revenues	10,247	13,157
Operating segments [Member] \| O&P - Americas [Member]
Summarized financial information concerning reportable segments: [Abstract]
Sales and other operating revenues	2,808	3,734
Operating segments [Member] \| O&P - EAI [Member]
Summarized financial information concerning reportable segments: [Abstract]
Sales and other operating revenues	2,892	3,926
Operating segments [Member] \| I&D [Member]
Summarized financial information concerning reportable segments: [Abstract]
Sales and other operating revenues	2,682	3,339
Operating segments [Member] \| APS [Member]
Summarized financial information concerning reportable segments: [Abstract]
Sales and other operating revenues	997	1,136
Operating segments [Member] \| Refining [Member]
Summarized financial information concerning reportable segments: [Abstract]
Sales and other operating revenues	2,190	2,720
Operating segments [Member] \| Technology [Member]
Summarized financial information concerning reportable segments: [Abstract]
Sales and other operating revenues	139	181
Operating segments [Member] \| Other [Member]
Summarized financial information concerning reportable segments: [Abstract]
Sales and other operating revenues	$ (1,461)	$ (1,879)

Segment and Related Informati_4

Segment and Related Information, Long-lived assets by segments (Details) - USD ($) $ in Millions	Mar. 31, 2023	Dec. 31, 2022
Segment reporting asset reconciling item [Line Items]
Property, plant and equipment, net	$ 15,401	$ 15,387
Equity investments	4,266	4,295
O&P - Americas [Member]
Segment reporting asset reconciling item [Line Items]
Property, plant and equipment, net	6,337	6,378
Equity investments	2,038	2,053
O&P - EAI [Member]
Segment reporting asset reconciling item [Line Items]
Property, plant and equipment, net	1,914	1,880
Equity investments	1,663	1,655
I&D [Member]
Segment reporting asset reconciling item [Line Items]
Property, plant and equipment, net	5,800	5,728
Equity investments	563	585
APS [Member]
Segment reporting asset reconciling item [Line Items]
Property, plant and equipment, net	639	636
Equity investments	2	2
Refining [Member]
Segment reporting asset reconciling item [Line Items]
Property, plant and equipment, net	193	255
Equity investments	0	0
Technology [Member]
Segment reporting asset reconciling item [Line Items]
Property, plant and equipment, net	518	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
	Jan. 01, 2023	Mar. 31, 2023	Dec. 31, 2022
Segment reporting information [Line Items]
Goodwill		$ 1,605	$ 1,827
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
APS [Member]
Segment reporting information [Line Items]
Goodwill			$ 1,370
Goodwill, impairment loss		252
APS [Member] \| Fair value, inputs, level 3 [Member]
Segment reporting information [Line Items]
Goodwill, fair value disclosure	$ 753
Refining [Member] \| Accelerated amortization of operating lease assets
Segment reporting information [Line Items]
Restructuring and related cost, incurred cost		51
Refining [Member] \| Accelerated amortization of operating lease assets \| Minimum [Member]
Segment reporting information [Line Items]
Restructuring and related cost, expected cost		100
Refining [Member] \| Accelerated amortization of operating lease assets \| Maximum [Member]
Segment reporting information [Line Items]
Restructuring and related cost, expected cost		200
Refining [Member] \| Personnel costs
Segment reporting information [Line Items]
Restructuring and related cost, incurred cost		16
Refining [Member] \| Personnel costs \| Minimum [Member]
Segment reporting information [Line Items]
Restructuring and related cost, expected cost		40
Refining [Member] \| Personnel costs \| Maximum [Member]
Segment reporting information [Line Items]
Restructuring and related cost, expected cost		70
Refining [Member] \| Asset retirement obligation costs
Segment reporting information [Line Items]
Restructuring and related cost, incurred cost		55
Asset retirement obligation, liabilities incurred		253
Refining [Member] \| Asset retirement obligation costs \| Minimum [Member]
Segment reporting information [Line Items]
Restructuring and related cost, expected cost		150
Refining [Member] \| Asset retirement obligation costs \| Maximum [Member]
Segment reporting information [Line Items]
Restructuring and related cost, expected cost		450
Refining [Member] \| Accretion of asset retirement costs [Member]
Segment reporting information [Line Items]
Restructuring and related cost, incurred cost		2
Refining [Member] \| Other restructuring \| Minimum [Member]
Segment reporting information [Line Items]
Restructuring and related cost, expected cost		50
Refining [Member] \| Other restructuring \| Maximum [Member]
Segment reporting information [Line Items]
Restructuring and related cost, expected cost		$ 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
	Mar. 31, 2023	Mar. 31, 2022
EBITDA: [Abstract]
Total segment EBITDA	$ 1,137	$ 2,021
Other EBITDA	(6)	(1)
Less: [Abstract]
Depreciation and amortization expense	(396)	(311)
Interest expense	(116)	(74)
Add: [Abstract]
Interest income	23	2
Income from continuing operations before income taxes	$ 642	$ 1,637