Non-Mineral Leases	12 Months Ended
Dec. 31, 2021
Non-Mineral Leases [Abstract]
Non-Mineral Leases	Note 15—Non-Mineral Leases The company primarily leases office buildings and drilling equipment, as well as ocean transport vessels, tugboats, corporate aircraft, and other facilities and equipment. Certain leases include escalation clauses for adjusting rental payments to reflect changes in price indices and other leases include payment provisions that vary based on the nature of usage of the leased asset. Additionally, the company has executed certain leases that provide it with the option to extend or renew the term of the lease, terminate the lease prior to the end of the lease term, or purchase the leased asset as of the end of the lease term. In other cases, the company has executed lease agreements that require it to guarantee the residual value of certain leased office buildings. For additional information about guarantees, There are no significant restrictions imposed on us by the lease agreements with regard to dividends, asset dispositions or borrowing ability. Certain arrangements may contain both lease and non-lease components and we determine if an arrangement is or contains a lease at contract inception. We adopted the provisions of FASB ASU No. 2016-02, “Leases” (ASC Topic 842) and its amendments, beginning January 1, 2019. This ASU superseded the requirements in FASB ASC Topic 840 “Leases” (ASC Topic 840). Only the lease components of these contractual arrangements are subject to the provisions of ASC Topic 842, and any non-lease components are subject to other applicable accounting guidance; however, we have elected to adopt the optional practical expedient not to separate lease components apart from non-lease components for accounting purposes. This policy election has been adopted for each of the company’s leased asset classes existing as of the effective date and subject to the transition provisions of ASC Topic 842 and will be applied to all new or modified leases executed on or after January 1, 2019. For contractual arrangements executed in subsequent periods involving a new leased asset class, the company will determine at contract inception whether it will apply the optional practical expedient to the new leased asset class. Leases are evaluated for classification as operating or finance leases at the commencement date of the lease and right-of-use assets and corresponding liabilities are recognized on our consolidated balance sheet based on the present value of future lease payments relating to the use of the underlying asset during the lease term. Future lease payments include variable lease payments that depend upon an index or rate using the index or rate at the commencement date and probable amounts owed under residual value guarantees. The amount of future lease payments may be increased to include additional payments related to lease extension, termination, and/or purchase options when the company has determined, at or subsequent to lease commencement, generally due to limited asset availability or operating commitments, it is reasonably certain of exercising such options. We use our incremental borrowing rate as the discount rate in determining the present value of future lease payments, unless the interest rate implicit in the lease arrangement is readily determinable. Lease payments that vary subsequent to the commencement date based on future usage levels, the nature of leased asset activities, or certain other contingencies are not included in the measurement of lease right-of-use assets and corresponding liabilities. We have elected not to record assets and liabilities on our consolidated balance sheet for lease arrangements with terms of 12 months or less. We often enter into leasing arrangements acting in the capacity as operator for and/or on behalf of certain oil and gas joint ventures of undivided interests. If the lease arrangement can be legally enforced only against us as operator and there is no separate arrangement to sublease the underlying leased asset to our coventurers, we recognize at lease commencement a right-of-use asset and corresponding lease liability on our consolidated balance sheet on a gross basis. While we record lease costs on a gross basis in our consolidated income statement and statement of cash flows, such costs are offset by the reimbursement we receive from our coventurers for their share of the lease cost as the underlying leased asset is utilized in joint venture activities. As a result, lease cost is presented in our consolidated income statement and statement of cash flows on a proportional basis. If we are a nonoperating coventurer, we recognize a right-of-use asset and corresponding lease liability only if we were a specified contractual party to the lease arrangement and the arrangement could be legally enforced against us. In this circumstance, we would recogni ze both the right-of-use asset and corresponding lease liability on our consolidated balance sheet on a proportional basis consistent with our undivided interest ownership in the related joint venture. The company has historically recorded certain finance leases executed by investee companies accounted for under the proportionate consolidation method of accounting on its consolidated balance sheet on a proportional basis consistent with its ownership interest in the investee company. In addition, the company has historically recorded finance lease assets and liabilities associated with certain oil and gas joint ventures on a proportional basis pursuant to accounting guidance applicable prior to January 1, 2019. In accordance with the transition provisions of ASC Topic 842, and since we have elected to adopt the package of optional transition-related practical expedients, the historical accounting treatment for these leases has been carried forward and is subject to reconsideration upon the modification or other required reassessment of the arrangements prior to lease term expiration. The following table summarizes the right-of-use assets and lease liabilities for both the operating and finance leases on our consolidated balance sheet as of December 31: Millions of Dollars 2021 2020 Operating Leases Finance Leases Operating Leases Finance Leases Right-of-Use Assets Properties, plants and equipment Gross $ 1,812 1,375 Accumulated DD&A (857) (721) Net PP&E * 955 654 Prepaid expenses and other current assets $ 16 2 Other assets 649 783 Lease Liabilities Short-term debt $ 280 168 Other accruals 188 226 Long-term debt * 981 723 Other liabilities and deferred credits 479 559 Total lease liabilities $ 667 1,261 785 891 * Includes proportionately consolidated finance lease assets of $ 208 million at December 31, 2021 and $ 258 million at December 31, 2020. Includes proportionately consolidated finance lease liabilities of $ 154 million at December 31, 2021 and $ 97 million at December 31, 2020. * Includes proportionately consolidated finance lease liabilities of $ 462 million at December 31, 2021 and $ 522 million at December 31, 2020. The following table summarizes our lease costs: Millions of Dollars 2021 2020 2019 Lease Cost * Operating lease cost $ 278 321 341 Finance lease cost Amortization of right-of-use assets 148 163 99 Interest on lease liabilities 27 34 37 Short-term lease cost 21 42 77 Total lease cost * $ 474 560 554 * The amounts presented in the table above have not been adjusted to reflect amounts recovered or reimbursed from oil and gas coventurers. Short-term leases are not recorded on our consolidated balance sheet. * Variable lease cost and sublease income are immaterial for the periods presented and therefore are not included in the table above . The following table summarizes the lease terms and discount rates as of December 31: 2021 2020 Lease Term and Discount Rate Weighted-average term (years) Operating leases 5.97 6.11 Finance leases 7.49 7.12 Weighted-average discount rate (percent) Operating leases 2.66 2.78 Finance leases 3.24 4.27 The following table summarizes other lease information: Millions of Dollars 2021 2020 2019 Other Information * Cash paid for amounts included in the measurement of lease liabilities Operating cash flows from operating leases $ 204 232 203 Operating cash flows from finance leases 6 11 27 Financing cash flows from finance leases 73 255 81 Right-of-use assets obtained in exchange for operating lease liabilities $ 174 250 499 Right-of-use assets obtained in exchange for finance lease liabilities 447 426 26 The amounts presented in the table above have not been adjusted to reflect amounts recovered or reimbursed from oil and gas coventurers. In addition, pursuant to other applicable accounting guidance, lease payments made in connection with preparing another asset for its intended use are reported in the "Cash Flows From Investing Activities" section of our consolidated statement of cash flows. The following table summarizes future lease payments for operating and finance leases at December 31, 2021: Millions of Dollars Operating Leases Finance Leases Maturity of Lease Liabilities 2022 $ 195 341 2023 143 199 2024 114 166 2025 68 143 2026 50 139 Remaining years 159 462 Total 729 1,450 Less: portion representing imputed interest (62) (189) Total lease liabilities $ 667 1,261 *Future lease payments for operating and finance leases commencing on or after January 1, 2019, also include payments related to non-lease components in accordance with our election to adopt the optional practical expedient not to separate lease components apart from non-lease components for accounting purposes. In addition, future payments related to operating and finance leases proportionately consolidated by the company have been included in the table on a proportionate basis consistent with our respective ownership interest in the underlying investee company or oil and gas venture.

Non-Mineral Leases

12 Months Ended

Dec. 31, 2021

Non-Mineral Leases [Abstract]

Non-Mineral Leases

Note 15—Non-Mineral Leases

The company primarily leases office buildings

and drilling equipment, as well as ocean transport

vessels, tugboats,

corporate aircraft,

and other facilities and equipment.

Certain leases include escalation clauses for

adjusting rental

payments to reflect changes in

price indices and other leases include payment provisions

that vary based on the

nature of usage of the leased asset.

Additionally, the company

has executed certain leases that

provide it with the

option to extend or renew the term of

the lease, terminate the lease prior to the end

of the lease term, or

purchase the leased asset as of the end of the lease term.

In other cases, the company has executed

lease

agreements that require it to

guarantee the residual value

of certain leased office buildings.

For additional

information about guarantees,

There are no significant restrictions

imposed on us by the lease

agreements with regard to

dividends, asset dispositions or borrowing ability.

Certain arrangements may

contain both lease and non-lease components

and we determine if an arrangement

or contains a lease at contract

inception.

We adopted the provisions

of FASB ASU No. 2016-02, “Leases” (ASC

Topic 842) and

its amendments, beginning January 1, 2019.

This ASU superseded the requirements in

FASB ASC

Topic 840 “Leases”

(ASC Topic

840).

Only the lease components of these contractual

arrangements are subject to

the provisions of ASC Topic

842, and any non-lease components

are subject to other applicable accounting

guidance; however,

we have elected to adopt

the optional practical expedient not to

separate lease components

apart from non-lease components for

accounting purposes.

This policy election has been adopted for each of the

company’s leased asset

classes existing as of the effective date

and subject to the transition provisions

of ASC

Topic 842 and will be applied

to all new or modified leases executed on

or after January 1, 2019.

For contractual

arrangements executed

in subsequent periods involving

a new leased asset class, the company will determine

contract inception whether it will apply

the optional practical expedient to

the new leased asset class.

Leases are evaluated for classification

as operating or finance leases at the commencement

date of the lease and

right-of-use assets and corresponding

liabilities are recognized on our

consolidated balance sheet based on the

present value of future lease payments

relating to the use of the underlying asset during the lease term.

Future

lease payments include variable lease payments

that depend upon an index or rate

using the index or rate at the

commencement date and probable

amounts owed under residual value

guarantees.

The amount of future lease

payments may be increased to

include additional payments related

to lease extension, termination,

and/or

purchase options when the company has

determined, at or subsequent to lease commencement,

generally due to

limited asset availability or operating

commitments, it is reasonably certain

of exercising such options.

We use our

incremental borrowing rate

as the discount rate in

determining the present value of future

lease payments, unless

the interest rate implicit in

the lease arrangement is readily

determinable.

Lease payments that vary

subsequent

to the commencement date based on future

usage levels, the nature of leased asset activities,

or certain other

contingencies are not included in the measurement

of lease right-of-use assets and corresponding

liabilities.

have elected not to record

assets and liabilities on our consolidated balance

sheet for lease arrangements with

terms of 12 months or less.

We often enter into

leasing arrangements acting in the capacity as

operator for and/or

on behalf of certain oil and

gas joint ventures of undivided interests.

If the lease arrangement can be legally enforced

only against us as

operator and there is no separate

arrangement to sublease the underlying

leased asset to our coventurers,

recognize at lease commencement

a right-of-use asset and corresponding

lease liability on our consolidated

balance sheet on a gross basis.

While we record lease costs on a

gross basis in our consolidated income statement

and statement of cash flows,

such costs are offset by the reimbursement

we receive from our coventurers

for their

share of the lease cost as the underlying leased asset

is utilized in joint venture activities.

As a result, lease cost is

presented in our consolidated

income statement and statement

of cash flows on a proportional basis.

If we are a

nonoperating coventurer,

we recognize a right-of-use asset and

corresponding lease liability only if we were a

specified contractual party to the lease arrangement

and the arrangement could be legally

enforced against us.

this circumstance, we would recogni

ze both the right-of-use asset

and corresponding lease liability on our

consolidated balance sheet on a proportional

basis consistent with our undivided interest

ownership in the related

joint venture.

The company has historically recorded

certain finance leases executed

by investee companies

accounted for under

the proportionate consolidation

method of accounting on its consolidated

balance sheet on a proportional basis

consistent with its ownership

interest in the investee

company.

In addition, the company has historically

recorded

finance lease assets and liabilities associated with certain

oil and gas joint ventures on a proportional

basis

pursuant to accounting guidance applicable

prior to January 1, 2019.

In accordance with the transition

provisions

of ASC Topic 842, and

since we have elected to adopt

the package of optional transition-related

practical

expedients, the historical accounting

treatment for these leases has been carried

forward and is subject to

reconsideration upon the modification

or other required reassessment

of the arrangements prior to lease term

expiration.

The following table summarizes the

right-of-use assets and lease liabilities for both

the operating and finance

leases on our consolidated balance sheet as of December 31:

Millions of Dollars

2021

2020

Operating

Leases

Finance

Leases

Operating

Leases

Finance

Leases

Right-of-Use Assets

Properties, plants and equipment

Gross

1,812

1,375

Accumulated DD&A

(857)

(721)

Net PP&E

955

654

Prepaid expenses and other current

assets

Other assets

649

783

Lease Liabilities

Short-term debt

280

168

Other accruals

188

226

Long-term debt

***

981

723

Other liabilities and deferred credits

479

559

Total

lease liabilities

667

1,261

785

891

Includes proportionately consolidated finance lease assets of $

208

million at December 31, 2021 and $

258

million at December 31, 2020.

Includes proportionately consolidated finance lease liabilities of $

154

million at December 31, 2021 and $

million at December 31, 2020.

***

Includes proportionately consolidated finance lease liabilities of $

462

million at December 31, 2021 and $

522

million at December 31,

2020.

The following table summarizes our

lease costs:

Millions of Dollars

2021

2020

2019

Lease Cost

Operating lease cost

278

321

341

Finance lease cost

Amortization of right-of-use assets

148

163

Interest on lease liabilities

Short-term lease cost

Total

lease cost

***

474

560

554

The amounts presented in the table above have not been adjusted to reflect amounts recovered or reimbursed from oil and gas

coventurers.

Short-term leases are not recorded on our consolidated balance sheet.

*** Variable lease cost and sublease income are immaterial for the periods presented and therefore are not included in the table above

The following table summarizes the

lease terms and discount rates

as of December 31:

2021

2020

Lease Term

and Discount Rate

Weighted-average

term (years)

Operating leases

5.97

6.11

Finance leases

7.49

7.12

Weighted-average

discount rate (percent)

Operating leases

2.66

2.78

Finance leases

3.24

4.27

The following table summarizes other

lease information:

Millions of Dollars

2021

2020

2019

Other Information

Cash paid for amounts included in the measurement

of lease liabilities

Operating cash flows from operating

leases

204

232

203

Operating cash flows from finance

leases

Financing cash flows from finance leases

255

Right-of-use assets obtained

in exchange for operating

lease liabilities

174

250

499

Right-of-use assets obtained

in exchange for finance lease liabilities

447

426

*The amounts presented in the table above have not been adjusted to reflect amounts recovered or reimbursed from oil and gas coventurers.

In addition, pursuant to other applicable accounting guidance, lease payments made in connection with preparing another asset for its

intended use are reported in the "Cash Flows From Investing Activities" section of our consolidated statement of cash flows.

The following table summarizes future

lease payments for operating

and finance leases at December 31, 2021:

Millions of Dollars

Operating

Leases

Finance

Leases

Maturity of Lease Liabilities

2022

195

341

2023

143

199

2024

114

166

2025

143

2026

139

Remaining years

159

462

Total

729

1,450

Less: portion representing imputed

interest

(62)

(189)

Total

lease liabilities

667

1,261

*Future lease payments for operating and finance leases commencing on or after January 1, 2019, also include payments related to non-lease

components in accordance with our election to adopt the optional practical expedient not to separate lease components apart from non-lease

components for accounting purposes.

In addition, future payments related to operating and finance leases proportionately consolidated by the

company have been included in the table on a proportionate basis consistent with our respective ownership interest in the underlying investee

company or oil and gas venture.