XML 85 R36.htm IDEA: XBRL DOCUMENT v3.25.0.1
NATURE OF BUSINESS, SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES AND OTHER (Tables)
 12 Months Ended
Dec. 31, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Schedule of Inventories Inventories, by category, are as follows:
20242023
(in millions)
Materials and supplies$86 $68 
Finished goods4 4 
Total
$90 $72 
Schedule of Rollforward of Asset Retirement Obligation
The following table summarizes the activity related to our 2024 and 2023 ARO:
Year ended December 31,
2024
2023
(in millions)
Beginning balance$521 $491 
Liabilities assumed in the Aera Merger
646 — 
Liabilities settled and divested
(94)(60)
Accretion expense(a)
84 46 
Revisions of estimated cash flows
(32)37 
Additions4 7 
Ending balance(b)
$1,129 $521 
Current liability (included in accrued liabilities)
$134 $99 
Non-current liability
$995 $422 
(a)For the year ended December 31, 2024, we recognized a $3 million adjustment in measurement period adjustments related to accretion on the Aera asset retirement obligation.
(b)The table excludes $5 million related to asset retirement obligations associated with assets held for sale at December 31, 2023 that were sold in October 2024. Refer to Note 9 Divestitures and Acquisitions for more information on our Ventura divestiture.
Schedule of Supplemental Cash Flow Information
Supplemental disclosures to our consolidated statements of cash flows, excluding leases and ARO, are presented below:

Year ended December 31,
202420232022
(in millions)
Supplemental Cash Flow Information
Interest paid, net of amount capitalized$(80)$(44)$(43)
Income taxes paid
$105 $121 $20 
Interest income$18 $21 $4 
Supplemental Disclosure of Non-cash Investing and Financing Activities
Contribution to the Carbon TerraVault JV
$20 $15 $2 
Dividends accrued for stock-based compensation awards
$2 $3 $2 
Issuance of shares for stock-based compensation awards$90 $5 $— 
Excise tax on share repurchases$2 $1 $—