v3.25.4
SCOPE OF CONSOLIDATION - Summary of Joint Ventures (Details) - USD ($)
$ in Millions
 12 Months Ended
May 05, 2023
Dec. 16, 2019
Dec. 08, 2019
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Disclosure of joint ventures [line items]              
Current assets       $ 30,605 $ 29,382    
of which cash, cash equivalents and restricted cash       5,392 6,400 $ 7,686 $ 9,300
Non-current assets       67,098 60,003    
Current liabilities       22,520 21,825    
Non-current liabilities       18,647 16,274    
Non-controlling interests       2,070 2,063    
Investments in joint ventures accounted for using equity method       4,908 6,184    
Revenue       61,352 62,441 68,275  
Depreciation and amortization       (2,945) (2,632) (2,675)  
Interest income       281 400 570  
Interest expense       (577) (510) (715)  
Income tax benefit (expense)       (359) (1,535) (238)  
Income (loss) from continuing operations       3,243 1,380 1,022  
Other comprehensive income (loss)       2,892 (4,480) 1,274  
Total comprehensive income (loss)       6,135 (3,100) 2,296  
Non-cash acquisition of joint venture equity       163 222    
Total for all joint ventures              
Disclosure of joint ventures [line items]              
Current assets       6,161 9,434 8,280  
of which cash, cash equivalents and restricted cash       1,505 2,495 1,568  
Non-current assets       16,559 17,973 15,152  
Current liabilities       3,688 5,119 4,531  
of which trade and other payables and provisions       2,802 3,087 3,030  
Non-current liabilities       10,028 10,888 8,626  
of which trade and other payables, provisions and deferred tax liability       826 1,050    
of which trade and other payables and provisions           1,126  
Non-controlling interests       25 26 27  
Total net assets       8,979 11,374 10,248  
Company's share of net assets       4,797 6,086 5,532  
Adjustments for differences in accounting policies and other       111 98 79  
Investments in joint ventures accounted for using equity method       4,908 6,184 5,611  
Revenue       10,002 15,554 17,056  
Depreciation and amortization       (567) (681) (683)  
Interest income       81 82 59  
Interest expense       (292) (325) (361)  
Income tax benefit (expense)       (59) 8 (351)  
Income (loss) from continuing operations       552 832 1,831  
Other comprehensive income (loss)       (716) (355) (1,038)  
Total comprehensive income (loss)       (164) 477 793  
Cash dividends received by the Company       $ 105 $ 147 $ 79  
AMNS India              
Disclosure of joint ventures [line items]              
Proportion of ownership interest in joint venture (in percent)   60.00% 60.00% 60.00% 60.00% 60.00%  
Current assets       $ 3,239 $ 3,758 $ 3,653  
of which cash, cash equivalents and restricted cash       959 1,279 926  
Non-current assets       12,623 12,004 10,208  
Current liabilities       2,301 2,219 1,617  
of which trade and other payables and provisions       1,762 1,674 1,310  
Non-current liabilities       8,727 8,065 6,763  
of which trade and other payables, provisions and deferred tax liability       717 904    
of which trade and other payables and provisions           997  
Non-controlling interests       25 26 27  
Total net assets       4,809 5,452 5,454  
Company's share of net assets       2,885 3,271 3,272  
Adjustments for differences in accounting policies and other       126 135 139  
Investments in joint ventures accounted for using equity method       3,011 3,406 3,411  
Revenue       6,029 6,515 6,710  
Depreciation and amortization       (420) (452) (446)  
Interest income       70 69 54  
Interest expense       (234) (172) (207)  
Income tax benefit (expense)       18 97 (279)  
Income (loss) from continuing operations       93 323 1,070  
Other comprehensive income (loss)       (713) (351) (998)  
Total comprehensive income (loss)       (620) (28) 72  
Cash dividends received by the Company       $ 0 $ 0 $ 0  
Calvert              
Disclosure of joint ventures [line items]              
Proportion of ownership interest in joint venture (in percent)         50.00% 50.00%  
Current assets         $ 2,364 $ 1,798  
of which cash, cash equivalents and restricted cash         603 83  
Non-current assets         2,634 2,125  
Current liabilities         1,171 1,017  
of which trade and other payables and provisions         196 169  
Non-current liabilities         1,885 1,103  
of which trade and other payables, provisions and deferred tax liability         0    
of which trade and other payables and provisions           0  
Non-controlling interests         0 0  
Total net assets         1,942 1,803  
Company's share of net assets         971 902  
Adjustments for differences in accounting policies and other         (40) (6)  
Investments in joint ventures accounted for using equity method         931 896  
Revenue         4,544 4,860  
Depreciation and amortization         (76) (70)  
Interest income         0 0  
Interest expense         (58) (51)  
Income tax benefit (expense)         0 0  
Income (loss) from continuing operations         191 99  
Other comprehensive income (loss)         (4) (20)  
Total comprehensive income (loss)         187 79  
Cash dividends received by the Company         $ 24 $ 58  
NEMM              
Disclosure of joint ventures [line items]              
Proportion of ownership interest in joint venture (in percent)       50.00% 50.00%    
Current assets       $ 527 $ 688    
of which cash, cash equivalents and restricted cash       242 240    
Non-current assets       762 444    
Current liabilities       64 0    
of which trade and other payables and provisions       64 0    
Non-current liabilities       54 0    
of which trade and other payables, provisions and deferred tax liability       0 0    
Non-controlling interests       0 0    
Total net assets       1,171 1,132    
Company's share of net assets       585 566    
Adjustments for differences in accounting policies and other       13 0    
Investments in joint ventures accounted for using equity method       598 566    
Revenue       0 0    
Depreciation and amortization       (1) 0    
Interest income       3 0    
Interest expense       0 0    
Income tax benefit (expense)       12 0    
Income (loss) from continuing operations       (40) 0    
Other comprehensive income (loss)       0 0    
Total comprehensive income (loss)       (40) 0    
Cash dividends received by the Company       0 0    
Other cash payments to acquire interests in joint ventures, classified as investing activities       326 120    
Liabilities, net       $ 287 $ 446    
VAMA              
Disclosure of joint ventures [line items]              
Proportion of ownership interest in joint venture (in percent)       50.00% 50.00% 50.00%  
Current assets       $ 855 $ 962 $ 853  
of which cash, cash equivalents and restricted cash       50 152 201  
Non-current assets       953 778 788  
Current liabilities       608 650 557  
of which trade and other payables and provisions       427 476 449  
Non-current liabilities       19 29 51  
of which trade and other payables, provisions and deferred tax liability       1 1    
of which trade and other payables and provisions           1  
Non-controlling interests       0 0 0  
Total net assets       1,181 1,061 1,033  
Company's share of net assets       591 531 517  
Adjustments for differences in accounting policies and other       0 0 0  
Investments in joint ventures accounted for using equity method       591 531 517  
Revenue       1,549 1,730 1,787  
Depreciation and amortization       (29) (38) (36)  
Interest income       2 4 2  
Interest expense       (3) (4) (5)  
Income tax benefit (expense)       (58) (67) (53)  
Income (loss) from continuing operations       262 288 352  
Other comprehensive income (loss)       0 0 0  
Total comprehensive income (loss)       262 288 352  
Cash dividends received by the Company       $ 94 $ 115 $ 0  
Tameh              
Disclosure of joint ventures [line items]              
Proportion of ownership interest in joint venture (in percent)         50.00% 50.00%  
Current assets         $ 143 $ 389  
of which cash, cash equivalents and restricted cash         27 46  
Non-current assets         277 454  
Current liabilities         193 462  
of which trade and other payables and provisions         161 368  
Non-current liabilities         19 37  
of which trade and other payables, provisions and deferred tax liability         12    
of which trade and other payables and provisions           28  
Non-controlling interests         0 0  
Total net assets         208 344  
Company's share of net assets         104 172  
Adjustments for differences in accounting policies and other         32 (20)  
Investments in joint ventures accounted for using equity method         136 152  
Revenue         583 945  
Depreciation and amortization         (30) (37)  
Interest income         3 2  
Interest expense         (6) (14)  
Income tax benefit (expense)         (7) (7)  
Income (loss) from continuing operations         (72) 7  
Other comprehensive income (loss)         (1) (14)  
Total comprehensive income (loss)         (73) (7)  
Cash dividends received by the Company         $ 0 $ 0  
Borçelik              
Disclosure of joint ventures [line items]              
Proportion of ownership interest in joint venture (in percent)       50.00% 50.00% 50.00%  
Current assets       $ 505 $ 534 $ 559  
of which cash, cash equivalents and restricted cash       39 36 12  
Non-current assets       284 297 238  
Current liabilities       309 358 329  
of which trade and other payables and provisions       267 316 323  
Non-current liabilities       47 50 39  
of which trade and other payables, provisions and deferred tax liability       47 50    
of which trade and other payables and provisions           39  
Non-controlling interests       0 0 0  
Total net assets       433 423 429  
Company's share of net assets       216 212 215  
Adjustments for differences in accounting policies and other       (35) (36) (40)  
Investments in joint ventures accounted for using equity method       181 176 175  
Revenue       1,281 1,425 1,549  
Depreciation and amortization       (24) (24) (25)  
Interest income       2 1 1  
Interest expense       (23) (35) (35)  
Income tax benefit (expense)       (12) (7) (33)  
Income (loss) from continuing operations       29 17 29  
Other comprehensive income (loss)       (3) 1 (6)  
Total comprehensive income (loss)       26 18 23  
Cash dividends received by the Company       $ 7 $ 8 $ 21  
Proportion of ownership in joint venture, based on shares issued (in percent)           45.33%  
Proportion of ownership in joint venture, based on outstanding shares (in percent)           50.00%  
Proportion of voting rights held in joint venture (in percent)           48.01%  
Al Jubail              
Disclosure of joint ventures [line items]              
Proportion of ownership interest in joint venture (in percent)       33.34% 33.34% 33.34%  
Current assets       $ 943 $ 905 $ 935  
of which cash, cash equivalents and restricted cash       171 145 297  
Non-current assets       1,101 1,079 1,149  
Current liabilities       368 528 542  
of which trade and other payables and provisions       270 264 404  
Non-current liabilities       563 514 633  
of which trade and other payables, provisions and deferred tax liability       60 83    
of which trade and other payables and provisions           61  
Non-controlling interests       0 0 0  
Total net assets       1,113 942 909  
Company's share of net assets       371 314 303  
Adjustments for differences in accounting policies and other       7 7 6  
Investments in joint ventures accounted for using equity method       378 321 309  
Revenue       1,046 757 1,205  
Depreciation and amortization       (78) (61) (69)  
Interest income       2 5 0  
Interest expense       (22) (50) (49)  
Income tax benefit (expense)       (16) (8) 21  
Income (loss) from continuing operations       173 86 274  
Other comprehensive income (loss)       0 0 0  
Total comprehensive income (loss)       173 86 274  
Cash dividends received by the Company       $ 0 $ 0 $ 0  
VdSA              
Disclosure of joint ventures [line items]              
Proportion of ownership interest in joint venture (in percent) 55.00%     55.00% 55.00% 55.00%  
Current assets       $ 92 $ 80 $ 93  
of which cash, cash equivalents and restricted cash       44 13 3  
Non-current assets       836 460 190  
Current liabilities       38 0 7  
of which trade and other payables and provisions       12 0 7  
Non-current liabilities       618 326 0  
of which trade and other payables, provisions and deferred tax liability       1 0    
of which trade and other payables and provisions           0  
Non-controlling interests       0 0 0  
Total net assets       272 214 276  
Company's share of net assets       149 117 151  
Adjustments for differences in accounting policies and other       0 0 0  
Investments in joint ventures accounted for using equity method       149 117 151  
Revenue       97 0 0  
Depreciation and amortization       (15) 0 0  
Interest income       2 0 0  
Interest expense       (10) 0 0  
Income tax benefit (expense)       (3) 0 0  
Income (loss) from continuing operations       35 (1) 0  
Other comprehensive income (loss)       0 0 0  
Total comprehensive income (loss)       35 (1) 0  
Cash dividends received by the Company       $ 4 $ 0 $ 0