Restructuring	12 Months Ended
Dec. 31, 2025
Restructuring and Related Activities [Abstract]
Restructuring	Restructuring Los Angeles Refinery In October 2024, we announced our intention to cease operations and begin idling the facilities at our Los Angeles Refinery in the fourth quarter of 2025. In the fourth quarter of 2025, consistent with our plan, we began idling the facility and ceased fuel production. We have submitted redevelopment project applications for the facilities, initiating the review process and allowing us to continue pursuing the redevelopment of the property for future uses. As a result of the decision to cease operations and begin idling the facilities, the following impacts were recorded in our Refining segment: •In 2024, we assessed the Los Angeles Refinery asset group for impairment and concluded that the carrying value of the asset group was recoverable. However, the estimated useful lives of the Los Angeles Refinery assets were shortened to reflect the plan to cease operations and begin idling the assets in the fourth quarter of 2025. As of December 31, 2025, the carrying values of the net PP&E and intangible assets were depreciated to the estimated salvage value of $241 million. Total depreciation related to the Los Angeles Refinery assets for the years ended December 31, 2025 and December 31, 2024, was $1,062 million and $350 million, including $964 million and $253 million of accelerated depreciation, respectively. This accelerated depreciation is included within the “Depreciation and amortization” line item on our consolidated statement of income for the years ended December 31, 2025 and 2024. •Our asset retirement obligations (AROs) at the Los Angeles Refinery were $253 million as of December 31, 2025, primarily reflecting asbestos abatement and decommissioning of assets. The estimation of asset retirement obligations requires judgment and is subject to changes in the underlying assumptions. Depreciation of the related capitalized asset retirement costs was also recorded through the fourth quarter of 2025, and the amounts for the years ended December 31, 2025 and 2024, are reflected in the accelerated depreciation discussed above. •We accrued $69 million in environmental expenses related to future groundwater mitigation plans at the Los Angeles Refinery. Additionally, we recorded a $35 million write down of material and supplies inventory. These expenses are included within the “Operating expenses” line item on our consolidated statement of income for the year ended December 31, 2025. •We recorded $44 million of severance costs, which are included within the “Operating expenses” line item on our consolidated statement of income for the year ended December 31, 2024. In April 2022, we began a multi-year business transformation focused on enterprise-wide opportunities to improve our cost structure. For the year ended December 31, 2023, we recorded restructuring costs totaling $177 million primarily related to consulting fees and severance costs. These costs are primarily recorded in the “Selling, general and administrative expenses” line item on our consolidated statement of income and are reported in Corporate and Other. In addition, for the year ended December 31, 2023, we recorded restructuring costs of $38 million associated with the integration of DCP Midstream Class A Segment primarily related to severance and contract exit costs. These costs are primarily recorded in the “Selling, general and administrative expenses” line item on our consolidated statement of income and are reported in our Midstream segment.

In October 2024, we announced our intention to cease operations and begin idling the facilities at our Los Angeles Refinery in the fourth quarter of 2025. In the fourth quarter of 2025, consistent with our plan, we began idling the facility and ceased fuel production. We have submitted redevelopment project applications for the facilities, initiating the review process and allowing us to continue pursuing the redevelopment of the property for future uses. As a result of the decision to cease operations and begin idling the facilities, the following impacts were recorded in our Refining segment:

•In 2024, we assessed the Los Angeles Refinery asset group for impairment and concluded that the carrying value of the asset group was recoverable. However, the estimated useful lives of the Los Angeles Refinery assets were shortened to reflect the plan to cease operations and begin idling the assets in the fourth quarter of 2025. As of December 31, 2025, the carrying values of the net PP&E and intangible assets were depreciated to the estimated salvage value of $241 million. Total depreciation related to the Los Angeles Refinery assets for the years ended December 31, 2025 and December 31, 2024, was $1,062 million and $350 million, including $964 million and $253 million of accelerated depreciation, respectively. This accelerated depreciation is included within the “Depreciation and amortization” line item on our consolidated statement of income for the years ended December 31, 2025 and 2024.

•Our asset retirement obligations (AROs) at the Los Angeles Refinery were $253 million as of December 31, 2025, primarily reflecting asbestos abatement and decommissioning of assets. The estimation of asset retirement obligations requires judgment and is subject to changes in the underlying assumptions. Depreciation of the related capitalized asset retirement costs was also recorded through the fourth quarter of 2025, and the amounts for the years ended December 31, 2025 and 2024, are reflected in the accelerated depreciation discussed above.

•We accrued $69 million in environmental expenses related to future groundwater mitigation plans at the Los Angeles Refinery. Additionally, we recorded a $35 million write down of material and supplies inventory. These expenses are included within the “Operating expenses” line item on our consolidated statement of income for the year ended December 31, 2025.

•We recorded $44 million of severance costs, which are included within the “Operating expenses” line item on our consolidated statement of income for the year ended December 31, 2024.

In April 2022, we began a multi-year business transformation focused on enterprise-wide opportunities to improve our cost structure. For the year ended December 31, 2023, we recorded restructuring costs totaling $177 million primarily related to consulting fees and severance costs. These costs are primarily recorded in the “Selling, general and administrative expenses” line item on our consolidated statement of income and are reported in Corporate and Other.

In addition, for the year ended December 31, 2023, we recorded restructuring costs of $38 million associated with the integration of DCP Midstream Class A Segment primarily related to severance and contract exit costs. These costs are primarily recorded in the “Selling, general and administrative expenses” line item on our consolidated statement of income and are reported in our Midstream segment.