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Non-Mineral Lease (Tables) | 12 Months Ended
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Dec. 31, 2023
Leases [Abstract] |
Right-of-Use Assets and Lease Liabilities | The following table summarizes the right-of-use assets and lease liabilities for both the operating and finance leases on our consolidated balance sheet as of December 31:
| Millions of Dollars
| 2023 | 2022
| Operating Leases | Finance Leases | Operating Leases | Finance Leases
Right-of-Use Assets |  |  |  |
Properties, plants and equipment |  |  |  |
Gross |  | 2,010 |  |  | 2,043 |
Accumulated DD&A |  | (1,185) |  |  | (1,022) |
Net PP&E* |  | 825 |  |  | 1,021 |
Other assets | 691 |  |  | 536 |  |
Lease Liabilities |  |  |  |
Short-term debt** |  | 291 |  |  | 284 |
Other accruals | 193 |  |  | 155 |  |
Long-term debt*** |  | 838 |  |  | 1,036 |
Other liabilities and deferred credits | 504 |  |  | 390 |  |
Total lease liabilities | $ | 697 |  | 1,129 |  | 545 |  | 1,320 |
* Includes proportionately consolidated finance lease assets of $134 million at December 31, 2023 and $171 million at December 31, 2022. ** Includes proportionately consolidated finance lease liabilities of $175 million at December 31, 2023 and $169 million at December 31, 2022. *** Includes proportionately consolidated finance lease liabilities of $326 million at December 31, 2023 and $399 million at December 31, 2022.
Lease Cost | The following table summarizes our lease costs:
| Millions of Dollars
| 2023 | 2022 | 2021
Lease Cost* |  |  |
Operating lease cost | $ | 229 |  | 212 |  | 278 |
Finance lease cost |  |  |
Amortization of right-of-use assets | 180 |  | 189 |  | 148 |
Interest on lease liabilities | 35 |  | 32 |  | 27 |
Short-term lease cost** | 40 |  | 94 |  | 21 |
Total lease cost*** | $ | 484 |  | 527 |  | 474 |
* The amounts presented in the table above have not been adjusted to reflect amounts recovered or reimbursed from oil and gas coventurers. ** Short-term leases are not recorded on our consolidated balance sheet. *** Variable lease cost and sublease income are immaterial for the periods presented and therefore are not included in the table above.
Lease Term and Discount Rate | The following table summarizes the lease terms and discount rates as of December 31:
| 2023 | 2022
Lease Term and Discount Rate |  |
Weighted-average term (years) |  |
Operating leases | 5.83 | 5.64
Finance leases | 5.73 | 6.60
Weighted-average discount rate (percent) |  |
Operating leases | 4.13 |  | 2.99 |
Finance leases | 3.39 |  | 3.40 |
Other Information | The following table summarizes other lease information:
| Millions of Dollars
| 2023 | 2022 | 2021
Other Information* |  |  |
Cash paid for amounts included in the measurement of lease liabilities |  |  |
Operating cash flows from operating leases | $ | 173 |  | 148 |  | 204 |
Operating cash flows from finance leases | 33 |  | 30 |  | 6 |
Financing cash flows from finance leases | 169 |  | 166 |  | 73 |
Right-of-use assets obtained in exchange for operating lease liabilities | $ | 355 |  | 114 |  | 174 |
Right-of-use assets obtained in exchange for finance lease liabilities | 9 |  | 256 |  | 447 |
*The amounts presented in the table above have not been adjusted to reflect amounts recovered or reimbursed from oil and gas coventurers. In addition, pursuant to other applicable accounting guidance, lease payments made in connection with preparing another asset for its intended use are reported in the "Cash Flows From Investing Activities" section of our consolidated statement of cash flows.
Maturity of Lease Liabilities | The following table summarizes future lease payments for operating and finance leases at December 31, 2023:
| Millions of Dollars
| Operating Leases | Finance Leases
Maturity of Lease Liabilities |  |
2024 | $ | 217 |  | 358 |
2025 | 150 |  | 207 |
2026 | 113 |  | 204 |
2027 | 88 |  | 161 |
2028 | 67 |  | 178 |
Remaining years | 153 |  | 174 |
Total* | 788 |  | 1,282 |
Less: portion representing imputed interest | (91) |  | (153) |
Total lease liabilities | $ | 697 |  | $ | 1,129 |
*Future lease payments for operating and finance leases commencing on or after January 1, 2019, also include payments related to non-lease components in accordance with our election to adopt the optional practical expedient not to separate lease components apart from non-lease components for accounting purposes. In addition, future payments related to operating and finance leases proportionately consolidated by the company have been included in the table on a proportionate basis consistent with our respective ownership interest in the underlying investee company or oil and gas venture.

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- Definition Tabular disclosure of lessee's lease cost. Includes, but is not limited to, interest expense for finance lease, amortization of right-of-use asset for finance lease, operating lease cost, short-term lease cost, variable lease cost and sublease income. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 4 -Publisher FASB -URI https://asc.fasb.org//1943274/2147478964/842-20-50-4 + Details
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- Definition Tabular disclosure of undiscounted cash flows of lessee's operating lease liability. Includes, but is not limited to, reconciliation of undiscounted cash flows to operating lease liability recognized in statement of financial position. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 6 -Publisher FASB -URI https://asc.fasb.org//1943274/2147478964/842-20-50-6 + Details
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