Commitments and Contingencies (Tables)

12 Months Ended

Dec. 31, 2024

Commitments and Contingencies Disclosure [Abstract]

Schedule of Loss Contingencies by Contingency

The following table summarizes the activity in the Company’s accrued obligations for personal injury claims (in millions):

 

	Years ended December 31,
	2024		2023		2022
Beginning balance	$	264	$	263	$	296
Accruals / changes in estimates	103		89		51
Payments	(102)		(88)		(84)
Ending balance	$	265	$	264	$	263
Current portion of ending balance	$	85	$	85	$	90

Accrued Obligations for Environmental Matters

The following table summarizes the activity in the Company’s accrued obligations for environmental matters (in millions):

	Years ended December 31,
	2024		2023		2022
Beginning balance	$	236	$	247	$	251
Accruals / changes in estimates	4		7		14
Payments	(16)		(18)		(18)
Ending balance	$	224	$	236	$	247
Current portion of ending balance	$	35	$	35	$	35

Schedule of Guarantor Obligations

Debt and other obligations of non-consolidated entities guaranteed by the Company as of December 31, 2024, were as follows (dollars in millions):

BNSF Ownership Percentage

Principal Amount Guaranteed

Maximum Future Payments

Maximum Recourse Amount a

Remaining Term (in years)

Capitalized Obligations

Chevron Phillips Chemical Company LP

—

%

N/A

c

N/A

c

N/A

c

3

$

6

b

a  Reflects the maximum amount the Company could recover from a third party other than the counterparty.

b  Reflects the asset and corresponding liability for the fair value of this guarantee required by authoritative accounting guidance related to guarantees.

c  There is no cap to the liability that can be sought from BNSF for BNSF’s negligence or the negligence of the indemnified party. However, BNSF could receive reimbursement from certain insurance policies if the liability exceeds a certain amount.