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Leases (Tables)
 12 Months Ended
Dec. 31, 2024
Leases [Abstract]  
Lease, Cost
The following tables illustrate the financial impact of our leases as of and for the years ended December 31, 2024, 2023, and 2022, along with other supplemental information about our existing leases:
Year Ended December 31,
Millions of dollars202420232022
Components of lease expense:
Finance lease cost:
  Amortization of right-of-use assets$37 $30 $20 
  Interest on lease liabilities38 41 38 
Operating lease cost353 337 301 
Short-term lease cost42 35 31 
Sublease income(3)(2)(3)
Total lease cost$467 $441 $387 
Lease supplemental disclosure
As of December 31,
Millions of dollars20242023
Components of balance sheet:
Operating leases:
  Operating lease right-of-use assets (non-current)$1,022 $1,088 
  Current portion of operating lease liabilities 263 262 
  Operating lease liabilities (non-current)798 911 
Finance leases:
  Other assets (non-current) $139 $120 
  Other current liabilities44 32 
  Other liabilities (non-current)126 132 

Year Ended December 31,
Millions of dollars except years and percentages202420232022
Other supplemental information:
Cash paid for amounts included in the measurement of lease liabilities:
  Operating cash flows for operating leases$374 $354 $332 
  Operating cash flows for finance leases38 41 38 
  Financing cash flows for finance leases33 37 26 
Right-of-use assets obtained in exchange for lease obligations:
  Operating leases$274 $487 $249 
  Finance leases57 64 62 
Weighted-average remaining lease term:
  Operating leases7.9 years8.2 years9.5 years
  Finance leases4.6 years5.3 years5.9 years
Weighted-average discount rate for operating leases5.4 %5.3 %5.2 %
Lessee, Operating and Finance Leases, Liability Maturity Table
The following table summarizes the maturity of our operating and finance leases as of December 31, 2024:
Millions of dollarsOperating LeasesFinance Leases
2025$317 $78 
2026232 75 
2027159 40 
2028101 19 
202982 10 
Thereafter453 16 
Total lease payments1,344 238 
Imputed interest(284)(68)
Total lease payments, net of imputed interest$1,060 $170