Accrued Expenses and Other Payables (Tables)

6 Months Ended

Jun. 30, 2025

Accrued Liabilities and Other Liabilities [Abstract]

Schedule of Accrued Expenses and Other Payables

The following table sets forth the items in accrued expenses and other payables (in millions).

	June 30,		December 31,
	2025		2024
Unrealized losses on derivative contracts	$	1,120	$	972
Accrued compensation	341		346
Income tax payable	108		167
Other taxes payable	167		138
Insurance liabilities	109		172
Accrued interest payable	159		153
Other deferred income	130		156
Contract liabilities (1)	193		534
Other accruals and payables	1,139		1,092
	$	3,466	$	3,730

(1) Contract liabilities relate to advance payments from customers for goods and services the Company has yet to provide. Revenues recognized in the three and six months ended June 30, 2025 from contract liabilities as of December 31, 2024 were $201 million and $480 million, respectively. Revenues recognized in the three and six months ended June 30, 2024 from contract liabilities as of December 31, 2023 were $120 million and $355 million, respectively.