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Lease Commitments | 12 Months Ended
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Dec. 31, 2023
Leases [Abstract] |
Lease Commitments | Note 5 Lease Commitments The company enters into leasing arrangements as a lessee; any lessor arrangements are not significant. Operating lease arrangements mainly involve land, bareboat charters, terminals, drill ships, drilling rigs, time chartered vessels, office buildings and warehouses, and exploration and production equipment. Finance leases primarily include facilities, vessels and office buildings. Details of the right-of-use assets and lease liabilities for operating and finance leases, including the balance sheet presentation, are as follows:
|  | At December 31, 2023 |  |  | At December 31, 2022 |
|  | Operating Leases |  |  | Finance Leases |  |  | Operating Leases |  |  | Finance Leases |
Deferred charges and other assets |  | $ | 5,422 |  |  | $ | — |  |  | $ | 4,262 |  |  | $ | — |
Properties, plant and equipment, net |  |  | — |  |  |  | 583 |  |  |  | — |  |  |  | 392 |
Right-of-use assets* |  | $ | 5,422 |  |  | $ | 583 |  |  | $ | 4,262 |  |  | $ | 392 |
Accrued Liabilities |  | $ | 1,538 |  |  | $ | — |  |  | $ | 1,111 |  |  | $ | — |
Short-term Debt |  |  | — |  |  |  | 60 |  |  |  | — |  |  |  | 45 |
Current lease liabilities |  |  | 1,538 |  |  |  | 60 |  |  |  | 1,111 |  |  |  | 45 |
Deferred credits and other noncurrent obligations |  |  | 3,696 |  |  |  | — |  |  |  | 2,920 |  |  |  | — |
Long-term Debt |  |  | — |  |  |  | 574 |  |  |  | — |  |  |  | 403 |
Noncurrent lease liabilities |  |  | 3,696 |  |  |  | 574 |  |  |  | 2,920 |  |  |  | 403 |
Total lease liabilities |  | $ | 5,234 |  |  | $ | 634 |  |  | $ | 4,031 |  |  | $ | 448 |
Weighted-average remaining lease term (in years) |  |  | 6 | .7 |  |  | 12 | .6 |  |  | 7 | .0 |  |  | 11 | .9
Weighted-average discount rate |  |  | 3.3 | % |  |  | 4.5 | % |  |  | 1.9 | % |  |  | 4.1 | %
* | Includes non-cash additions of $2,556 and $233 in 2023, and $1,807 and $3 in 2022 for right-of-use assets obtained in exchange for new and modified lease liabilities for operating and finance leases, respectively.
Total lease costs consist of both amounts recognized in the Consolidated Statement of Income during the period and amounts capitalized as part of the cost of another asset. Total lease costs incurred for operating and finance leases were as follows:
|  | Year-ended December 31 |
|  | 2023 |  |  | 2022 |  | 2021 |
Operating lease costs* |  | $ | 2,984 |  |  | $   2,359 |  | $ | 2,199 |
Finance lease costs |  |  | 52 |  |  | 57 |  |  | 66 |
Total lease costs |  | $ | 3,036 |  |  | $   2,416 |  | $ | 2,265 |
* | Includes variable and short-term lease costs.
Cash paid for amounts included in the measurement of lease liabilities was as follows:
|  | Year-ended December 31 |
|  | 2023 |  |  | 2022 |  | 2021 |
Operating cash flows from operating leases |  | $ | 2,271 |  |  | $   1,892 |  | $ | 1,670 |
Investing cash flows from operating leases |  |  | 713 |  |  | 467 |  |  | 398 |
Operating cash flows from finance leases |  |  | 15 |  |  | 18 |  |  | 21 |
Financing cash flows from finance leases |  |  | 42 |  |  | 44 |  |  | 193 |
At December 31, 2023, the estimated future undiscounted cash flows for operating and finance leases were as follows:
|  | At December 31, 2023 |
|  | Operating Leases |  |  | Finance Leases |
Year    2024 |  | $ | 1,673 |  |  | $ | 84 |
2025 |  |  | 1,153 |  |  |  | 79 |
2026 |  |  | 734 |  |  |  | 76 |
2027 |  |  | 544 |  |  |  | 68 |
2028 |  |  | 396 |  |  |  | 66 |
Thereafter |  |  | 1,364 |  |  |  | 443 |
Total |  | $ | 5,864 |  |  | $ | 816 |
Less: Amounts representing interest |  |  | 630 |  |  |  | 182 |
Total lease liabilities |  | $ | 5,234 |  |  | $ | 634 |
Additionally, the company has $232 in future undiscounted cash flows for operating leases not yet commenced. These leases are primarily for drill ships, drilling rigs and storage tanks. For those leasing arrangements where the underlying asset is not yet constructed, the lessor is primarily involved in the design and construction of the asset.
Lease Commitments | Note 5 Lease Commitments The company enters into leasing arrangements as a lessee; any lessor arrangements are not significant. Operating lease arrangements mainly involve land, bareboat charters, terminals, drill ships, drilling rigs, time chartered vessels, office buildings and warehouses, and exploration and production equipment. Finance leases primarily include facilities, vessels and office buildings. Details of the right-of-use assets and lease liabilities for operating and finance leases, including the balance sheet presentation, are as follows:
|  | At December 31, 2023 |  |  | At December 31, 2022 |
|  | Operating Leases |  |  | Finance Leases |  |  | Operating Leases |  |  | Finance Leases |
Deferred charges and other assets |  | $ | 5,422 |  |  | $ | — |  |  | $ | 4,262 |  |  | $ | — |
Properties, plant and equipment, net |  |  | — |  |  |  | 583 |  |  |  | — |  |  |  | 392 |
Right-of-use assets* |  | $ | 5,422 |  |  | $ | 583 |  |  | $ | 4,262 |  |  | $ | 392 |
Accrued Liabilities |  | $ | 1,538 |  |  | $ | — |  |  | $ | 1,111 |  |  | $ | — |
Short-term Debt |  |  | — |  |  |  | 60 |  |  |  | — |  |  |  | 45 |
Current lease liabilities |  |  | 1,538 |  |  |  | 60 |  |  |  | 1,111 |  |  |  | 45 |
Deferred credits and other noncurrent obligations |  |  | 3,696 |  |  |  | — |  |  |  | 2,920 |  |  |  | — |
Long-term Debt |  |  | — |  |  |  | 574 |  |  |  | — |  |  |  | 403 |
Noncurrent lease liabilities |  |  | 3,696 |  |  |  | 574 |  |  |  | 2,920 |  |  |  | 403 |
Total lease liabilities |  | $ | 5,234 |  |  | $ | 634 |  |  | $ | 4,031 |  |  | $ | 448 |
Weighted-average remaining lease term (in years) |  |  | 6 | .7 |  |  | 12 | .6 |  |  | 7 | .0 |  |  | 11 | .9
Weighted-average discount rate |  |  | 3.3 | % |  |  | 4.5 | % |  |  | 1.9 | % |  |  | 4.1 | %
* | Includes non-cash additions of $2,556 and $233 in 2023, and $1,807 and $3 in 2022 for right-of-use assets obtained in exchange for new and modified lease liabilities for operating and finance leases, respectively.
Total lease costs consist of both amounts recognized in the Consolidated Statement of Income during the period and amounts capitalized as part of the cost of another asset. Total lease costs incurred for operating and finance leases were as follows:
|  | Year-ended December 31 |
|  | 2023 |  |  | 2022 |  | 2021 |
Operating lease costs* |  | $ | 2,984 |  |  | $   2,359 |  | $ | 2,199 |
Finance lease costs |  |  | 52 |  |  | 57 |  |  | 66 |
Total lease costs |  | $ | 3,036 |  |  | $   2,416 |  | $ | 2,265 |
* | Includes variable and short-term lease costs.
Cash paid for amounts included in the measurement of lease liabilities was as follows:
|  | Year-ended December 31 |
|  | 2023 |  |  | 2022 |  | 2021 |
Operating cash flows from operating leases |  | $ | 2,271 |  |  | $   1,892 |  | $ | 1,670 |
Investing cash flows from operating leases |  |  | 713 |  |  | 467 |  |  | 398 |
Operating cash flows from finance leases |  |  | 15 |  |  | 18 |  |  | 21 |
Financing cash flows from finance leases |  |  | 42 |  |  | 44 |  |  | 193 |
At December 31, 2023, the estimated future undiscounted cash flows for operating and finance leases were as follows:
|  | At December 31, 2023 |
|  | Operating Leases |  |  | Finance Leases |
Year    2024 |  | $ | 1,673 |  |  | $ | 84 |
2025 |  |  | 1,153 |  |  |  | 79 |
2026 |  |  | 734 |  |  |  | 76 |
2027 |  |  | 544 |  |  |  | 68 |
2028 |  |  | 396 |  |  |  | 66 |
Thereafter |  |  | 1,364 |  |  |  | 443 |
Total |  | $ | 5,864 |  |  | $ | 816 |
Less: Amounts representing interest |  |  | 630 |  |  |  | 182 |
Total lease liabilities |  | $ | 5,234 |  |  | $ | 634 |
Additionally, the company has $232 in future undiscounted cash flows for operating leases not yet commenced. These leases are primarily for drill ships, drilling rigs and storage tanks. For those leasing arrangements where the underlying asset is not yet constructed, the lessor is primarily involved in the design and construction of the asset.

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- Definition The entire disclosure for finance leases of lessee. Includes, but is not limited to, description of lessee's finance lease and maturity analysis of finance lease liability. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//842-20/tableOfContent + Details
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- Definition The entire disclosure for operating leases of lessee. Includes, but is not limited to, description of operating lease and maturity analysis of operating lease liability. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//842-20/tableOfContent + Details
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