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Accrued Expenses And Other Payables
 12 Months Ended
Dec. 31, 2024
Payables and Accruals [Abstract]  
Accrued Expenses And Other Payables Accrued Expenses and Other Payables
The following table sets forth the items in accrued expenses and other payables (in millions).
 
December 31, 2024December 31, 2023
Unrealized losses on derivative contracts$972 $1,101 
Accrued compensation346 439 
Income tax payable167 284 
Other taxes payable138 172 
Accrued interest payable
153 142 
Insurance liabilities
172 117 
Contract liabilities (1)
534 626 
Other deferred income
156 150 
Other accruals and payables1,092 1,045 
 $3,730 $4,076 

(1) Contract liabilities relate to advance payments from customers for goods and services the Company has yet to provide. Revenues recognized in the year ended December 31, 2024 from contract liabilities as of December 31, 2023 were $529 million.