GENERAL (Tables)

3 Months Ended

Mar. 31, 2026

The following table provides a reconciliation of cash, cash equivalents, restricted cash and restricted cash equivalents as reported in the Consolidated Condensed Statements of Cash Flows as of March 31, 2026 and 2025:



millions	2026		2025
Cash and cash equivalents	$	3,811	$	2,604
Cash and cash equivalents included in assets held for sale	—		8
Restricted cash and restricted cash equivalents included in other current assets	18		15
Restricted cash and restricted cash equivalents included in other long-term assets	18		15
Cash, cash equivalents, restricted cash and restricted cash equivalents	$	3,847	$	2,642

Schedule of Restrictions on Cash and Cash Equivalents



millions	2026		2025
Cash and cash equivalents	$	3,811	$	2,604
Cash and cash equivalents included in assets held for sale	—		8
Restricted cash and restricted cash equivalents included in other current assets	18		15
Restricted cash and restricted cash equivalents included in other long-term assets	18		15
Cash, cash equivalents, restricted cash and restricted cash equivalents	$	3,847	$	2,642

Schedule of Supplemental Cash Flows

The following table represents U.S. federal, state and international income taxes paid, refunds received and interest paid during the three months ended March 31, 2026 and 2025, respectively:



millions	2026		2025
Income tax payments	$	118	$	414
Income tax refunds received	$	—	$	(1)
Interest paid (a)	$	404	$	486

(a) Net of capitalized interest of $50 million and $42 million for the three months ended March 31, 2026 and 2025, respectively.

Schedule of Inventories

Inventories consisted of the following as of March 31, 2026 and December 31, 2025:


millions	March 31, 2026		December 31, 2025
Materials and supplies	$	1,249	$	1,222
Commodity inventory	613		601
Total	$	1,862	$	1,823

Schedule of Accrued and Other Long-Term Liabilities

Accrued liabilities - current consisted of the following as of March 31, 2026 and December 31, 2025:


millions	March 31, 2026		December 31, 2025
Income tax payable	$	1,643	$	159
Payroll and related expenses	354		620
Taxes other than on income	413		498
Accrued interest payable	184		386
Dividends payable	405		383
Asset retirement obligations	343		381
Operating lease liabilities	383		350
Other	1,228		815
Total	$	4,953	$	3,592

Other long-term liabilities consisted of the following as of March 31, 2026 and December 31, 2025:


millions	March 31, 2026		December 31, 2025
Long term tax liabilities	$	2,427	$	2,393
Environmental remediation liabilities	1,704		1,719
Pension and postretirement obligations	933		985
Operating lease liabilities	557		605
Other	1,722		1,609
Total	$	7,343	$	7,311