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Leases
 12 Months Ended
Dec. 31, 2024
Disclosure of leases [Abstract]  
Leases Leases
LEASE ASSETS
Product transportation and storage
Field equipment and power
Offshore vessels and equipment
Office leases and other
Total
At December 31, 2022$912 $377 $97 $61 $1,447 
Additions27 218 49 23 317 
Depreciation(98)(111)(45)(19)(273)
Foreign exchange adjustments and other(1)(2)(30)— (33)
At December 31, 2023840 482 71 65 1,458 
Additions5 118 40 68 231 
Depreciation(96)(135)(51)(20)(302)
Foreign exchange adjustments and other3 3 4 (3)7 
At December 31, 2024$752 $468 $64 $110 $1,394 
LEASE ASSETS, BY SEGMENT
As at December 31, 2024 and 2023, the Company had the following lease assets by segment:
 
20242023
Exploration and Production
 
North America
$257 $280 
North Sea
25 18 
Offshore Africa
93 119 
Oil Sands Mining and Upgrading
932 1,001 
Head Office
87 40 
 
$1,394 $1,458 
LEASE LIABILITIES
The Company measures its lease liabilities at the discounted value of its lease payments during the lease term. Lease liabilities at December 31, 2024 and 2023, were as follows:
 20242023
Lease liabilities $1,464 $1,555 
Less: current portion255 298 
 $1,209 $1,257 
In addition to the lease assets disclosed above, on an ongoing basis the Company enters into short-term leases related to its Exploration and Production and Oil Sands Mining and Upgrading activities.
Other amounts included in net earnings and cash flows during 2024 and 2023 are provided below:

20242023
Expenses relating to short-term leases (1)
$337 $403 
Interest expense on lease liabilities$69 $64 
Variable lease payments not included in the measurement of lease liabilities$59 $59 
Total cash outflows for leases (2)
$1,333 $1,325 
(1)During 2024, the Company capitalized $543 million (2023 – $514 million) of short-term leases as additions to property, plant and equipment.
(2)Comprised of cash outflows relating to lease liabilities, short-term leases, and variable lease payments.