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INCOME TAXES - COMPONENTS OF DEFERRED TAX ASSETS AND LIABILITIES (Details) - USD ($)
$ in Millions
Dec. 31, 2024
Dec. 31, 2023
Deferred tax liabilities    
Property, plant and equipment differences $ (7,100) $ (6,994)
Equity investments, partnerships and international subsidiaries (633) (709)
Gross long-term deferred tax liabilities (7,733) (7,703)
Deferred tax assets    
Environmental reserves 416 223
Postretirement benefit accruals 249 229
Deferred compensation and benefits 258 237
Asset retirement obligations 788 722
Foreign tax credit carryforwards 1,975 2,759
Business credit carryforwards 54 43
Net operating loss carryforward 1,031 1,056
Interest expense carryforward 11 11
All other 539 586
Gross long-term deferred tax assets 5,321 5,866
Valuation allowance (2,962) (3,901)
Net long-term deferred tax assets 2,359 1,965
Total deferred income tax liability, net (5,374) (5,738)
Less: foreign deferred tax asset in long-term receivables and other assets, net (20) (26)
Total deferred income tax liability $ (5,394) $ (5,764)