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INDUSTRY SEGMENTS AND GEOGRAPHIC AREAS (Tables)
 12 Months Ended
Dec. 31, 2025
Segment Reporting [Abstract]  
Schedule of reconciliation of operating profit (loss) from segments to consolidated
The following table reconciles segment income from continuing operations before taxes to net income attributable to common shares:

Years Ended December 31,
millions 202520242023
Segment income from continuing operations before taxes   
Oil and gas segment$4,586 $5,214 $6,240 
Midstream and marketing segment252 563 (35)
Corporate and eliminations(631)(584)(586)
Interest and debt expense, net(1,079)(1,169)(957)
Income from continuing operations before income taxes
$3,128 $4,024 $4,662 
Income tax expense
(1,021)(1,158)(1,330)
Income from continuing operations
$2,107 $2,866 $3,332 
Discontinued operations, net of tax262 212 1,364 
Net income$2,369 $3,078 $4,696 
Less: Net income attributable to noncontrolling interest(43)(22)— 
Less: Preferred stock dividends and redemption premiums
(679)(679)(923)
Net income attributable to common stockholders$1,647 $2,377 $3,773 
Schedule of industry segments
Other segment expenses include asset impairments and other charges, selling, general and administrative expense and exploration expense:

Years Ended December 31,
millions 202520242023
Revenues and other income   
Net sales$20,902 $21,705 $21,284 
Gains (losses) on sale of assets and other income(70)(551)192 
Total$20,832 $21,154 $21,476 
Significant segment expenses 
Oil and gas lease operating expense
4,681 4,738 4,677 
Transportation and gathering expense1,629 1,583 1,427 
Other operating and non-operating expense1,161 997 889 
Taxes other than on income1,009 1,026 1,076 
Depreciation, depletion and amortization7,115 6,565 6,112 
Other segment expenses633 993 1,031 
Total$16,228 $15,902 $15,212 
Segment income before other items$4,604 $5,252 $6,264 
Losses from equity investments and other(18)(38)(24)
Segment income from continuing operations before taxes$4,586 $5,214 $6,240 
Other segment expenses include asset impairments and other charges, transportation expense, taxes other than on income, and selling, general and administrative expense:

Years Ended December 31,
millions 202520242023
Revenues and other income   
Net sales$1,279 $886 $2,433 
Gains on sale of assets and other income500 628 494 
Total$1,779 $1,514 $2,927 
Significant segment expenses
Purchased commodities and midstream cost of sales800 1,035 2,749 
Other operating and non-operating expense359 289 234 
Depreciation, depletion and amortization294 273 266 
Other segment expenses168 151 163 
Total$1,621 $1,748 $3,412 
Segment income (losses) before other items$158 $(234)$(485)
Income from equity investments and other
94 797 450 
Segment income (losses) from continuing operations before taxes$252 $563 $(35)
The following table includes segment-level balance sheet information:

millionsOil and gasMidstream and marketingCorporate and
eliminations		Assets held for saleTotal
Year ended December 31, 2025
PP&E Additions$5,703 $806 $98 $— $6,607 
Investments in unconsolidated entities$129 $2,346 $— $— $2,475 
Total Assets$60,393 $13,901 $3,372 $6,520 $84,186 
Year ended December 31, 2024   
PP&E Additions$5,408 $930 $82 $— $6,420 
Investments in unconsolidated entities$94 $2,552 $— $— $2,646 
Total Assets$63,596 $13,177 $3,102 $5,570 $85,445 
Schedule of property, plant and equipment, net by geographic area The following table represents the Company’s property, plant and equipment, net by geographic area for the years ended December 31:
millions202520242023
United States$57,038 $59,158 $48,677 
International
UAE3,375 3,495 3,609 
Oman2,238 2,187 2,156 
Algeria626 618 624 
Qatar326 361 393 
Other International40 44 35 
Total International6,605 6,705 6,817 
Total$63,643 $65,863 $55,494