v3.25.4
Interest expense
 12 Months Ended
Dec. 31, 2025
Analysis of income and expense [abstract]  
Interest Expense Interest expense
$ million
202520242023
Interest incurred and similar charges2,3632,8002,669
Interest expense related to leases1,8661,7221,772
Less: interest capitalised(521)(638)(532)
Other net (gains)/losses on fair value and cash flow hedges of debt
(70)(71)45
Accretion expense1,033974719
Total4,6714,7874,673
The rate applied in determining the amount of interest capitalised in 2025 was 4.5% (2024: 4.0%, 2023: 4.0%).