September 30, 2026 and 2025, which are reflected within “Impairments and other charges” on our Condensed Consolidated


	Three Months Ended		Nine Months Ended
	September 30,		September 30,
Millions of dollars	2026	2025	2026	2025
Severance costs	$107	$169	$107	$276
Inventory costs and write-downs	25	—	25	—
Fixed and other assets write-offs	14	115	14	115
Impairment of assets held for sale	—	96	—	200
Loss on sale of a business	—	—	17	—
Impairment of real estate facilities	—	—	—	53
Cybersecurity incident	—	(10)	—	(10)
Gain on investments	(36)	(6)	(100)	(6)
Other	(3)	28	(51)	120
Total impairments and other charges	$107	$392	$12	$748

$107 million of severance costs associated with the rationalization of our global headcount, $25 million of inventory costs and

write-downs, and $14 million of fixed and other assets write-offs. These charges were partially offset by a $36 million gain

During the nine months ended September 30, 2026, we recorded a pre-tax charge of $12 million. The charge primarily

reflected $107 million in severance costs, $25 million of inventory costs and write-downs, and $14 million of fixed and other

assets write-offs. These charges were substantially offset by gains of $100 million, primarily related to a $54 million gain

resulting from changes in our ownership interest in an equity investment and a $36 million gain resulting from the sale of a

portion of our shares in an equity investment, and $51 million of other gains, primarily due to a government refund recovery.

During the three months ended September 30, 2025, we recorded a pre-tax charge of $392 million primarily related to

$169 million of severance costs, $115 million of fixed and other assets write-offs primarily related to our North America Land

operations, and $96 million in impairment of assets held for sale related to our chemical business, partially offset by a $10

For the nine months ended September 30, 2025, we recorded a pre-tax charge of $748 million, which included $276

million of severance costs, a $200 million impairment of assets held for sale related to our chemical business, $115 million of

fixed and other assets write-offs, a $53 million impairment associated with facility closures and lease terminations, and $120

million of other charges, primarily related to increases in legacy environmental remediation cost estimates.