v3.25.4
Lease Commitments
 12 Months Ended
Dec. 31, 2025
Leases [Abstract]  
Lease Commitments
Lease Commitments
The company enters into leasing arrangements as a lessee; any lessor arrangements are not significant. Operating lease arrangements mainly involve land, bareboat charters, terminals, drill ships, drilling rigs, time chartered vessels, office buildings and warehouses, and exploration and production equipment. Finance leases primarily include facilities, vessels and office buildings.
Details of the right-of-use assets and lease liabilities for operating and finance leases, including the balance sheet presentation, are as follows:
At December 31, 2025At December 31, 2024
Operating
Leases		Finance
Leases		Operating
Leases		Finance
Leases
Deferred charges and other assets$6,054 $— $5,315 $— 
Properties, plant and equipment, net— 1,413 — 570 
Right-of-use assets*$6,054 $1,413 $5,315 $570 
Accrued liabilities$1,831 $— $1,519 $— 
Short-term debt— 786 — 58 
Current lease liabilities1,831 786 1,519 58 
Deferred credits and other noncurrent obligations4,154 — 3,551 — 
Long-term debt— 659 — 546 
Noncurrent lease liabilities4,154 659 3,551 546 
 Total lease liabilities
$5,985 $1,445 $5,070 $604 
Weighted-average remaining lease term (in years)6.66.56.313.2
Weighted-average discount rate4.0 %4.9 %3.7 %4.6 %
* Includes non-cash additions of $2,845 and $971 in 2025, and $2,205 and $40 in 2024 for right-of-use assets obtained in exchange for new and modified lease liabilities for operating and finance leases, respectively.

Total lease costs consist of both amounts recognized in the Consolidated Statement of Income during the period and amounts capitalized as part of the cost of another asset. Total lease costs incurred for operating and finance leases were as follows:
Year-ended December 31
202520242023
Operating lease costs*$3,719 $3,447 $2,984 
Finance lease costs 154 8352
Total lease costs
$3,873 $3,530 $3,036 
* Includes variable and short-term lease costs.
Cash paid for amounts included in the measurement of lease liabilities was as follows:
Year-ended December 31
202520242023
Operating cash flows from operating leases$2,838 $2,468 $2,271 
Investing cash flows from operating leases881 979 713 
Operating cash flows from finance leases42 26 15 
Financing cash flows from finance leases136 67 42 
At December 31, 2025, the estimated future undiscounted cash flows for operating and finance leases were as follows:
At December 31, 2025
Operating LeasesFinance
Leases
Year2026$2,017 $825 
20271,369 98 
2028898 96 
2029551 93 
2030365 83 
Thereafter1,701 524 
Total$6,901 $1,719 
Less: Amounts representing interest916 274 
Total lease liabilities
$5,985 $1,445 
Additionally, the company has $1,316 in future undiscounted cash flows for operating leases not yet commenced. These leases are primarily for drilling rigs, time chartered vessels, exploration and production equipment and storage tanks. For
those leasing arrangements where the underlying asset is not yet constructed, the lessor is primarily involved in the design and construction of the asset.
Lease Commitments
Lease Commitments
The company enters into leasing arrangements as a lessee; any lessor arrangements are not significant. Operating lease arrangements mainly involve land, bareboat charters, terminals, drill ships, drilling rigs, time chartered vessels, office buildings and warehouses, and exploration and production equipment. Finance leases primarily include facilities, vessels and office buildings.
Details of the right-of-use assets and lease liabilities for operating and finance leases, including the balance sheet presentation, are as follows:
At December 31, 2025At December 31, 2024
Operating
Leases		Finance
Leases		Operating
Leases		Finance
Leases
Deferred charges and other assets$6,054 $— $5,315 $— 
Properties, plant and equipment, net— 1,413 — 570 
Right-of-use assets*$6,054 $1,413 $5,315 $570 
Accrued liabilities$1,831 $— $1,519 $— 
Short-term debt— 786 — 58 
Current lease liabilities1,831 786 1,519 58 
Deferred credits and other noncurrent obligations4,154 — 3,551 — 
Long-term debt— 659 — 546 
Noncurrent lease liabilities4,154 659 3,551 546 
 Total lease liabilities
$5,985 $1,445 $5,070 $604 
Weighted-average remaining lease term (in years)6.66.56.313.2
Weighted-average discount rate4.0 %4.9 %3.7 %4.6 %
* Includes non-cash additions of $2,845 and $971 in 2025, and $2,205 and $40 in 2024 for right-of-use assets obtained in exchange for new and modified lease liabilities for operating and finance leases, respectively.

Total lease costs consist of both amounts recognized in the Consolidated Statement of Income during the period and amounts capitalized as part of the cost of another asset. Total lease costs incurred for operating and finance leases were as follows:
Year-ended December 31
202520242023
Operating lease costs*$3,719 $3,447 $2,984 
Finance lease costs 154 8352
Total lease costs
$3,873 $3,530 $3,036 
* Includes variable and short-term lease costs.
Cash paid for amounts included in the measurement of lease liabilities was as follows:
Year-ended December 31
202520242023
Operating cash flows from operating leases$2,838 $2,468 $2,271 
Investing cash flows from operating leases881 979 713 
Operating cash flows from finance leases42 26 15 
Financing cash flows from finance leases136 67 42 
At December 31, 2025, the estimated future undiscounted cash flows for operating and finance leases were as follows:
At December 31, 2025
Operating LeasesFinance
Leases
Year2026$2,017 $825 
20271,369 98 
2028898 96 
2029551 93 
2030365 83 
Thereafter1,701 524 
Total$6,901 $1,719 
Less: Amounts representing interest916 274 
Total lease liabilities
$5,985 $1,445 
Additionally, the company has $1,316 in future undiscounted cash flows for operating leases not yet commenced. These leases are primarily for drilling rigs, time chartered vessels, exploration and production equipment and storage tanks. For
those leasing arrangements where the underlying asset is not yet constructed, the lessor is primarily involved in the design and construction of the asset.