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Leases (Maturities of Lease Liabilities) (Details) - USD ($) $ in Millions | Dec. 31, 2024 | Dec. 31, 2023
--- | --- | ---
Leases [Abstract] |  |  |
2025 |  | $ 30 |
2026 |  | 24 |
2027 |  | 4 |
2028 |  | 0 |
2029 |  | 0 |
Thereafter | [1] | 0 |
Total lease payments |  | 470 |
Less: interest |  | (152) |
Present value of lease liabilities | [2] | 318 | $ 307
2025 |  | 55 |
2026 |  | 49 |
2027 |  | 29 |
2028 |  | 24 |
2029 |  | 22 |
Thereafter | [1] | 349 |
Total lease payments |  | 58 |
Less: interest |  | (3) |
Present value of lease liabilities | [2] | 55 | 21
2025 |  | 25 |
2026 |  | 25 |
2027 |  | 25 |
2028 |  | 24 |
2029 |  | 22 |
Thereafter | [1] | 349 |
Total lease payments |  | 528 |
Less: interest |  | (155) |
Present value of lease liabilities | [2] | $ 373 | $ 328
[1] | Devon has one real estate lease that contains a residual value guarantee. Under the lease terms, the residual value guarantee stipulates that if the lessor were to sell the leased property and receive sale proceeds less than 90% of the lease liability at the time of sale, Devon would be required to make a shortfall payment to the lessor for the difference.
[2] | Devon has entered into certain leases of equipment related to the exploration, development and production of oil and gas that had terms not yet commenced as of December 31, 2024 and are therefore excluded from the amounts shown above.

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