v3.25.4
Sales and Other Operating Revenues (Tables)
 12 Months Ended
Dec. 31, 2025
Revenue from Contract with Customer [Abstract]  
Disaggregation of Revenue
Revenue from Contracts with Customers
The following table provides further disaggregation of our consolidated sales and other operating revenues:
Millions of Dollars
202520242023
Revenue from contracts with customers$51,824 49,418 48,522 
Revenue from contracts outside the scope of ASC Topic 606
Physical contracts meeting the definition of a derivative7,201 5,483 8,203 
Financial derivative contracts(81)(156)(584)
Consolidated sales and other operating revenues$58,944 54,745 56,141 
Revenues from contracts outside the scope of ASC Topic 606, “Revenue from Contracts with Customers,” relate primarily to physical gas contracts at market prices, which qualify as derivatives accounted for under ASC Topic 815, “Derivatives and Hedging,” and for which we have not elected NPNS. There is no significant difference in contractual terms or the policy for recognition of revenue from these contracts and those within the scope of ASC Topic 606. Further disaggregation of revenues is provided in Note 22 - Segment Disclosures and Related Information.