v3.25.4
Asset Retirement Obligations and Accrued Environmental Costs (Tables)
12 Months Ended
Dec. 31, 2025
Asset Retirement Obligation Disclosure [Abstract]  
Asset Retirement Obligations and Accrued Environmental Costs
Asset retirement obligations and accrued environmental costs at December 31 were:
Millions of Dollars
20252024
Asset retirement obligations$8,364 8,215 
Accrued environmental costs220 206 
Total asset retirement obligations and accrued environmental costs8,584 8,421 
Asset retirement obligations and accrued environmental costs due within one year*(370)(332)
Long-term asset retirement obligations and accrued environmental costs$8,214 8,089 
Changes in Asset Retirement Obligation
During 2025 and 2024, our overall ARO changed as follows:
Millions of Dollars
20252024
Balance at January 1$8,215 7,227 
Accretion of discount366 319 
New obligations, including acquisitions162 926 
Changes in estimates of existing obligations(150)140 
Spending on existing obligations(259)(182)
Property dispositions(186)(6)
Foreign currency translation216 (209)
Balance at December 31
$8,364 8,215