v3.25.4

Leases (Tables) | 12 Months Ended
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Dec. 31, 2025
Leases [Abstract] |
Lease, Cost | The following tables illustrate the financial impact of our leases as of and for the years ended December 31, 2025, 2024, and 2023, along with other supplemental information about our existing leases:
| Year Ended December 31,
Millions of dollars | 2025 | 2024 | 2023
Components of lease expense: |  |  |
Finance lease cost: |  |  |
Amortization of right-of-use assets | $47 | $37 | $30
Interest on lease liabilities | 31 | 38 | 41
Operating lease cost | 359 | 353 | 337
Short-term lease cost | 41 | 42 | 35
Sublease income | (2) | (3) | (2)
Total lease cost | $476 | $467 | $441
Lease supplemental disclosure |
| December 31,
Millions of dollars | 2025 | 2024
Components of balance sheet: |  |
Operating leases: |  |
Operating lease right-of-use assets (non-current) | $938 | $1,022
Current portion of operating lease liabilities | 263 | 263
Operating lease liabilities (non-current) | 712 | 798
Finance leases: |  |
Other assets (non-current) | $161 | $139
Other current liabilities | 81 | 44
Other liabilities (non-current) | 102 | 126
| Year Ended December 31,
Millions of dollars except years and percentages | 2025 | 2024 | 2023
Other supplemental information: |  |  |
Cash paid for amounts included in the measurement of lease liabilities: |  |  |
Operating cash flows for operating leases | $394 | $374 | $354
Operating cash flows for finance leases | 31 | 38 | 41
Financing cash flows for finance leases | 48 | 33 | 37
Right-of-use assets obtained in exchange for lease obligations: |  |  |
Operating leases | $281 | $274 | $487
Finance leases | 74 | 57 | 64
Weighted-average remaining lease term: |  |  |
Operating leases | 7.3 years | 7.9 years | 8.2 years
Finance leases | 3.8 years | 4.6 years | 5.3 years
Weighted-average discount rate for operating leases | 5.4% | 5.4% | 5.3%
Lessee, Operating and Finance Leases, Liability Maturity Table | The following table summarizes the maturity of our operating and finance leases as of December 31, 2025:
Millions of dollars | Operating Leases | Finance Leases
2026 | $315 | $103
2027 | 199 | 59
2028 | 124 | 27
2029 | 99 | 14
2030 | 79 | 6
Thereafter | 399 | 15
Total lease payments | 1,215 | 224
Imputed interest | (240) | (41)
Total lease payments, net of imputed interest | $975 | $183

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- Definition Tabular disclosure of lessee's supplemental lease information. Includes, but is not limited to, location on balance sheet, cash flow impact and lease term data. + References No definition available. + Details
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- Definition Tabular disclosure of undiscounted cash flows of lessee's operating and finance lease liability. Includes, but is not limited to, reconciliation of undiscounted cash flows to operating and finance lease liability recognized in statement of financial position. + References No definition available. + Details
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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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- References No definition available. + Details
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