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v3.25.4

Debt (Tables) | 12 Months Ended
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Dec. 31, 2025
Debt Disclosure [Abstract] |
Schedule of Debt | Long-term debt at December 31 was:
| Millions of Dollars
| 2025 | 2024
2.4% Notes due 2025 | — |  | 366 |
8.2% Debentures due 2025 | — |  | 134 |
3.35% Notes due 2025 | — |  | 199 |
6.875% Debentures due 2026 | 67 |  | 67 |
7.8% Debentures due 2027 | 120 |  | 120 |
4.4% Notes due 2027 | 422 |  | 424 |
3.75% Notes due 2027 | 196 |  | 196 |
4.3% Notes due 2028 | 223 |  | 223 |
7.375% Debentures due 2029 | 66 |  | 66 |
7.0% Debentures due 2029 | 95 |  | 95 |
5.3% Notes due 2029 | 84 |  | 86 |
6.95% Notes due 2029 | 705 |  | 705 |
4.7% Notes due 2030 | 1,350 |  | 1,350 |
8.125% Notes due 2030 | 207 |  | 207 |
2.4% Notes due 2031 | 227 |  | 227 |
7.2% Notes due 2031 | 447 |  | 447 |
7.25% Notes due 2031 | 268 |  | 268 |
7.4% Notes due 2031 | 232 |  | 232 |
4.85% Notes due 2032 | 650 |  | 650 |
6.8% Notes due 2032 | 180 |  | 180 |
5.9% Notes due 2032 | 505 |  | 505 |
5.05% Notes due 2033 | 1,000 |  | 1,000 |
5.7% Notes due 2034 | 103 |  | 103 |
4.15% Notes due 2034 | 246 |  | 246 |
5.0% Notes due 2035 | 1,250 |  | 1,250 |
5.95% Notes due 2036 | 326 |  | 326 |
5.951% Notes serially maturing 2022 through 2037 | 541 |  | 573 |
6.6% Notes due 2037 | 335 |  | 335 |
5.9% Notes due 2038 | 350 |  | 350 |
6.5% Notes due 2039 | 1,588 |  | 1,588 |
3.758% Notes due 2042 | 785 |  | 785 |
4.3% Notes due 2044 | 750 |  | 750 |
5.2% Notes due 2045 | 186 |  | 186 |
5.95% Notes due 2046 | 329 |  | 329 |
7.9% Debentures due 2047 | 60 |  | 60 |
4.875% Notes due 2047 | 319 |  | 319 |
4.85% Notes due 2048 | 219 |  | 219 |
3.8% Notes due 2052 | 1,100 |  | 1,100 |
5.3% Notes due 2053 | 1,100 |  | 1,100 |
5.55% Notes due 2054 | 1,000 |  | 1,000 |
5.5% Notes due 2055 | 1,300 |  | 1,300 |
4.025% Notes due 2062 | 1,770 |  | 1,770 |
5.7% Notes due 2063 | 700 |  | 700 |
5.65% Notes due 2065 | 650 |  | 650 |
Marine Terminal Revenue Refunding Bonds due 2031 at 1.23% – 5.05% during 2025 and 1.78% – 4.80% during 2024 | 265 |  | 265 |
Industrial Development Bonds due 2035 at 1.23% – 5.05% during 2025 and 1.78% – 4.22% during 2024 | 18 |  | 18 |
St. John the Baptist Parish, State of Louisiana—Revenue Refunding Bonds due 2037 1: $200 at 2.20%, $200 at 2.375%, $200 at 4.05%, $400 at 3.30%1 | 1,000 |  | 1,000 |
Other | 13 |  | 16 |
Debt at face value | 23,347 |  | 24,085 |
Finance leases | 801 |  | 940 |
Net unamortized premiums, discounts and debt issuance costs | (704) |  | (701) |
Total debt | 23,444 |  | 24,324 |
Short-term debt | (1,020) |  | (1,035) |
Long-term debt | $ | 22,424 |  | 23,289 |
1 Future mandatory purchase dates for these bonds: July 1, 2026 for the 2.20% bonds of $200 million, 2.375% bonds of $200 million, 4.05% bonds of $200 million and July 3, 2028 for the 3.30% bonds of $400 million. Subsequent to the mandatory purchase dates, we will also have the right to remarket these bonds any time up to the 2037 maturity date.

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- Definition Tabular disclosure of information pertaining to short-term and long-debt instruments or arrangements, including but not limited to identification of terms, features, collateral requirements and other information necessary to a fair presentation. + References No definition available. + Details
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