v3.25.4
Leases (Tables)
 12 Months Ended
Dec. 31, 2025
Leases [Abstract]  
Schedule of ROU Assets and Lease Liabilities
The following table indicates the consolidated balance sheet line items that include the ROU assets and lease liabilities for our finance and operating leases at December 31:

Millions of Dollars
20252024
Finance
Leases		Operating
Leases		Finance
Leases		Operating
Leases
Right-of-Use Assets
Prepaid expenses and other current assets$— — — 20 
Net properties, plants and equipment299 — 323 — 
Other assets— 1,807 — 1,300 
Total right-of-use assets$299 1,807 323 1,320 
Lease Liabilities
Short-term debt$34 — 30 — 
Other accruals— 574 — 421 
Long-term debt304 — 322 — 
Other liabilities and deferred credits— 1,296 — 934 
Total lease liabilities$338 1,870 352 1,355 
Schedule of Finance Lease Liability
Future minimum lease payments at December 31, 2025, for finance and operating lease liabilities were:
 
Millions of Dollars
Finance
Leases		Operating
Leases
2026$49 657 
202741 506 
202840 378 
202937 281 
203034 158 
Remaining years255 110 
Future minimum lease payments456 2,090 
Amount representing interest or discounts(118)(220)
Total lease liabilities$338 1,870 
Schedule of Operating Lease Liability
Future minimum lease payments at December 31, 2025, for finance and operating lease liabilities were:
 
Millions of Dollars
Finance
Leases		Operating
Leases
2026$49 657 
202741 506 
202840 378 
202937 281 
203034 158 
Remaining years255 110 
Future minimum lease payments456 2,090 
Amount representing interest or discounts(118)(220)
Total lease liabilities$338 1,870 
Schedule of Lease Cost, Cash Paid for Leases and Lease Term and Discount Rates
Components of net lease cost for the years ended December 31 were:

Millions of Dollars
202520242023
Finance lease cost
Amortization of right-of-use assets$33 33 30 
Interest on lease liabilities16 13 9 
Total finance lease cost49 46 39 
Operating lease cost597 478 390 
Short-term lease cost124 88 76 
Variable lease cost55 53 55 
Sublease income (28)(19)(12)
Total net lease cost$797 646 548 


Cash paid for amounts included in the measurement of our lease liabilities for the years ended December 31 was:

Millions of Dollars
202520242023
Operating cash outflows—finance leases$16 13 15 
Operating cash outflows—operating leases600 473 390 
Financing cash outflows—finance leases30 28 19 
The weighted-average remaining lease terms and discount rates for our lease liabilities at December 31 were:

20252024
Weighted-average remaining lease term—finance leases (years)12.213.0
Weighted-average remaining lease term—operating leases (years)4.24.9
Weighted-average discount rate—finance leases4.4 %4.4 
Weighted-average discount rate—operating leases5.2 4.8