v3.25.4
Asset Retirement Obligations and Accrued Environmental Costs (Tables)
12 Months Ended
Dec. 31, 2025
Asset Retirement Obligation And Accrual For Environmental Cost Disclosure [Abstract]  
Schedule of Asset Retirement Obligations and Accrual for Environmental Costs
Asset retirement obligations and accrued environmental costs at December 31 were:
 
 Millions of Dollars
 20252024
Asset retirement obligations$721 771 
Accrued environmental costs506 439 
Total asset retirement obligations and accrued environmental costs1,227 1,210 
Asset retirement obligations and accrued environmental costs due within one year*(205)(81)
Long-term asset retirement obligations and accrued environmental costs$1,022 1,129 
* Classified as a current liability, which is presented within the “Other accruals” line item on our consolidated balance sheet.
Schedule of Change in Asset Retirement Obligation
Our overall asset retirement obligations changed as follows during the years ended December 31:
 
 Millions of Dollars
 20252024
Balance at January 1$771 537 
Accretion of discount34 27 
New obligations 42 261 
Changes in estimates of existing obligations81 33 
Spending on existing obligations(84)(25)
Asset dispositions(138)(55)
Foreign currency translation15 (7)
Balance at December 31$721 771