Debt (Tables)

12 Months Ended

Dec. 31, 2024

Debt Disclosure [Abstract]

Schedule of debt

Our long-term total debt consisted of the following:

	December 31,
Millions of dollars	2024		2023
5.0% senior notes due November 2045	$	1,887	$	1,911
2.92% senior notes due March 2030	1,000		1,000
4.85% senior notes due November 2035	997		1,000
7.45% senior notes due September 2039	938		946
4.75% senior notes due August 2043	846		879
6.7% senior notes due September 2038	763		763
4.5% senior notes due November 2041	469		500
7.6% senior debentures due August 2096	226		228
6.75% notes due February 2027	90		90
3.8% senior notes due November 2025	—		382
Other	6		5
Unamortized debt issuance costs and discounts	(62)		(68)
Total long-term debt	$	7,160	$	7,636
Short-term borrowings and current maturities of long-term debt, net	381		—
Total debt	$	7,541	$	7,636

Schedule of Repurchase Agreements

Our total debt repurchases consisted of the following:

	December 31,
Millions of dollars	2024		2023
4.75% senior notes due August 2043	$	32	$	21
4.5% senior notes due November 2041	31		—
5.0% senior notes due November 2045	24		90
7.45% senior notes due September 2039	8		54
4.85% senior notes due November 2035	3		—
7.6% senior debentures due August 2096	2		66
6.7% senior notes due September 2038	—		37
3.8% senior notes due November 2025	—		18
6.75% notes due February 2027	—		14
Total Repurchases	$	100	$	300