v3.26.1
Financial structure and financial costs - Credit risk (Details) - USD ($)
$ in Millions
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Credit risk      
Maximum credit risk exposure $ 75,347 $ 81,575 $ 83,182
Net margin call (paid) received (1,094) (3,002) (2,435)
Financial liabilities 121,260 114,395 111,786
Operating liabilities subject to reverse factoring      
Credit risk      
Financial liabilities 842    
Sale of receivables      
Credit risk      
Net value of receivables sold 9,864    
Financial asset remaining recognized after date of sale 0    
Financial liability remaining recognized after date of sale 0    
Loans to equity affiliates      
Credit risk      
Maximum credit risk exposure 7,425 6,533 4,562
Loans and advances      
Credit risk      
Maximum credit risk exposure 2,241 2,175 2,222
Other non-current financial assets related to operational activities      
Credit risk      
Maximum credit risk exposure 386 1,677 1,761
Non-current financial assets      
Credit risk      
Maximum credit risk exposure 3,270 2,305 2,395
Accounts receivable      
Credit risk      
Maximum credit risk exposure 18,559 19,281 23,442
Other operating receivables      
Credit risk      
Maximum credit risk exposure 13,932 16,846 14,952
Current financial assets      
Credit risk      
Maximum credit risk exposure 3,332 6,914 6,585
Cash and cash equivalents      
Credit risk      
Maximum credit risk exposure $ 26,202 $ 25,844 $ 27,263