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Pension and Other Postretirement Benefits (Tables)
 12 Months Ended
Dec. 31, 2024
Defined Benefit Plans and Other Postretirement Benefit Plans Disclosures [Abstract]  
Defined Contribution Plan Disclosures
(Millions of dollars)202420232022
Cash balance weighted average interest crediting rates4.56 %3.57 %3.00 %
Summary Of Projected Benefit Obligations And Funded Status For Defined Benefit Pension And Other Postretirement Plans
The following summarizes the projected benefit obligations and funded status for our defined benefit pension and other postretirement plans:
 Pension BenefitsOther Benefits
(Millions of dollars)2024202320242023
Benefit obligations at January 1$2,563 $2,359 $679 $650 
Service cost219 195 21 18 
Interest cost122 116 32 31 
Actuarial (gain) loss(32)184 (14)31 
Benefits paid(187)(291)(49)(51)
Benefit obligations at December 312,685 2,563 669 679 
Fair value of plan assets at January 12,082 1,838 — — 
Actual return on plan assets161 266 — — 
Employer contributions102 269 49 51 
Benefits paid from plan assets(187)(291)(49)(51)
Fair value of plan assets at December 312,158 2,082 — — 
Funded status at December 31$(527)$(481)$(669)$(679)
Schedule of Amounts Recognized in Balance Sheet
Amounts recognized in the consolidated balance sheet for our pension and other postretirement benefit plans at December 31 include:
 Pension BenefitsOther Benefits
(Millions of dollars)2024202320242023
Noncurrent assets$22 $— $— $— 
Current liabilities(11)(8)(50)(50)
Noncurrent liabilities(538)(473)(619)(629)
Accrued benefit cost$(527)$(481)$(669)$(679)
Schedule of Net Periodic Benefit Cost Not yet Recognized
Included in accumulated other comprehensive loss at December 31 were the following before-tax amounts that had not been recognized in net periodic benefit cost:
 Pension BenefitsOther Benefits
(Millions of dollars)2024202320242023
Net actuarial loss$404 $467 $36 $50 
Prior service credit(36)(69)(181)(202)
Amounts exclude those related to LOOP and Explorer, equity method investees with defined benefit pension and postretirement plans for which net losses (gains) of $(7) million and $4 million were recorded in accumulated other comprehensive income (loss) in 2024, reflecting our ownership share.
Components of Net Periodic Benefit Costs
The following summarizes the net periodic benefit costs and the amounts recognized as other comprehensive loss (pretax) for our defined benefit pension and other postretirement plans.
 Pension BenefitsOther Benefits
(Millions of dollars)202420232022202420232022
Service cost$227 $201 $230 $21 $18 $26 
Interest cost122 116 102 32 31 21 
Expected return on plan assets(146)(163)(142)— — — 
Amortization of prior service credit(33)(45)(45)(22)(22)(22)
Amortization of actuarial (gain) loss6 (5)4 — — 6 
Settlement (gain) loss3 (1)79 — — — 
Net periodic benefit cost(a)
$179 $103 $228 $31 $27 $31 
Actuarial (gain) loss$(54)$75 $109 $(15)$31 $(167)
Amortization of actuarial (gain) loss(9)6 (83)— — (6)
Amortization of prior service credit33 45 45 22 22 22 
Total recognized in other comprehensive (income) loss$(30)$126 $71 $7 $53 $(151)
Total recognized in net periodic benefit cost and other comprehensive (income) loss$149 $229 $299 $38 $80 $(120)
(a)    Net periodic benefit cost reflects a calculated market-related value of plan assets which recognizes changes in fair value over three years.
Other Changes in Plan Assets and Benefit Obligations Recognized in Other Comprehensive Loss (Pretax)
The following summarizes the net periodic benefit costs and the amounts recognized as other comprehensive loss (pretax) for our defined benefit pension and other postretirement plans.
 Pension BenefitsOther Benefits
(Millions of dollars)202420232022202420232022
Service cost$227 $201 $230 $21 $18 $26 
Interest cost122 116 102 32 31 21 
Expected return on plan assets(146)(163)(142)— — — 
Amortization of prior service credit(33)(45)(45)(22)(22)(22)
Amortization of actuarial (gain) loss6 (5)4 — — 6 
Settlement (gain) loss3 (1)79 — — — 
Net periodic benefit cost(a)
$179 $103 $228 $31 $27 $31 
Actuarial (gain) loss$(54)$75 $109 $(15)$31 $(167)
Amortization of actuarial (gain) loss(9)6 (83)— — (6)
Amortization of prior service credit33 45 45 22 22 22 
Total recognized in other comprehensive (income) loss$(30)$126 $71 $7 $53 $(151)
Total recognized in net periodic benefit cost and other comprehensive (income) loss$149 $229 $299 $38 $80 $(120)
(a)    Net periodic benefit cost reflects a calculated market-related value of plan assets which recognizes changes in fair value over three years.
Plan Assumptions
The following summarizes the assumptions used to determine the benefit obligations at December 31, and net periodic benefit cost for the defined benefit pension and other postretirement plans for 2024, 2023 and 2022.
Pension BenefitsOther Benefits
 202420232022202420232022
Benefit obligation:
Discount rate5.55 %4.85 %5.04 %5.58 %4.88 %5.08 %
Rate of compensation increase4.18 %4.18 %4.18 %4.18 %4.18 %4.18 %
Net periodic benefit cost:
Discount rate4.85 %5.10 %3.33 %4.88 %5.08 %2.93 %
Expected long-term return on plan assets6.80 %7.00 %5.75 %— %— %— %
Rate of compensation increase4.18 %4.18 %4.18 %4.18 %4.18 %4.18 %
Assumed Health Care Cost Trend Rates
The following summarizes the assumed health care cost trend rates.
 December 31,
 202420232022
Health care cost trend rate assumed for the following year:
Medical: Pre-657.90 %7.70 %6.60 %
Prescription drugs12.50 %10.80 %8.90 %
Rate to which the cost trend rate is assumed to decline (the ultimate trend rate):
Medical: Pre-654.50 %4.50 %4.50 %
Prescription drugs4.50 %4.50 %4.50 %
Year that the rate reaches the ultimate trend rate:
Medical: Pre-65203420322031
Prescription drugs203420322031
Fair Values Of Defined Benefit Pension Plan Assets
The following tables present the fair values of our defined benefit pension plans’ assets, by level within the fair value hierarchy, as of December 31, 2024 and 2023.
 December 31, 2024December 31, 2023
(Millions of dollars)Level 1Level 2Level 3TotalLevel 1Level 2Level 3Total
Cash and cash equivalents$— $62 $— $62 $— $63 $— $63 
Equity:
Common stocks52 — — 52 50 — — 50 
Mutual funds125 — — 125 115 — — 115 
Pooled funds— 871 — 871 — 791 — 791 
Fixed income:
Corporate— 637 — 637 — 588 — 588 
Government— 267 — 267 — 330 — 330 
Pooled funds— 117 — 117 — 118 — 118 
Private equity— — 9 9 — — 10 10 
Real estate— — 11 11 — — 12 12 
Other— 7 — 7 — 2 3 5 
Total investments, at fair value$177 $1,961 $20 $2,158 $165 $1,892 $25 $2,082 
Estimated Future Benefit Payment
The following gross benefit payments, which reflect expected future service, as appropriate, are expected to be paid in the years indicated.
(Millions of dollars)Pension BenefitsOther Benefits
2025$177 $51 
2026180 52 
2027188 52 
2028203 53 
2029206 54 
2030 through 20341,219 280 
Multiemployer Plan
Our participation in this plan for 2024, 2023 and 2022 is outlined in the table below. The “EIN” column provides the Employee Identification Number for the plan. The most recent Pension Protection Act zone status available in 2024 and 2023 is for the plan years ending on December 31, 2023 and December 31, 2022, respectively. The zone status is based on information that we received from the plan and is certified by the plan’s actuary. Among other factors, plans in the red zone are generally less than 65 percent funded. The “FIP/RP Status Pending/Implemented” column indicates a financial improvement plan or a rehabilitation plan has been implemented. The last column lists the expiration date of the collective-bargaining agreement to which the plan is subject. There have been no significant changes that affect the comparability of 2024, 2023 and 2022 contributions. Our portion of the contributions does not make up more than five percent of total contributions to the plan.
  Pension 
Protection
Act Zone 
Status		FIP/RP Status
Pending/Implemented
MPC Contributions 
(Millions of dollars)
Surcharge
Imposed		Expiration Date of
Collective – Bargaining
Agreement
Pension FundEIN20242023202420232022
Central States, Southeast and Southwest Areas Pension Plan(a)(b)
366044243RedRedImplemented$3 $5 $5 NoJanuary 31, 2031
(a)    This agreement has a minimum contribution requirement of $338 per week per employee for 2025. A total of 252 employees participated in the plan as of December 31, 2024.
(b)    The parties to the expired agreement continue operating under the relevant terms of the expired agreement while negotiating a successor agreement.