LyondellBasell Industries (LYB) 10-K 27 Feb 25 2024 FY Annual report Financial data

Audit Information

Audit Information	12 Months Ended
	Dec. 31, 2024
Audit Information [Abstract]
Auditor Firm ID	238
Auditor Name	PricewaterhouseCoopers LLP
Auditor Location	Houston, Texas

Cover

Cover - USD ($) $ in Billions	12 Months Ended
	Dec. 31, 2024	Feb. 25, 2025	Jun. 30, 2024
Entity Addresses [Line Items]
Document Type	10-K
Document Annual Report	true
Document Period End Date	Dec. 31, 2024
Current Fiscal Year End Date	--12-31
Document Transition Report	false
Entity File Number	001-34726
Entity Registrant Name	LyondellBasell Industries N.V.
Entity Incorporation, State or Country Code	P7
Entity Tax Identification Number	98-0646235
Entity Address, Address Line One	1221 McKinney St.,
Entity Address, Address Line Two	Suite 300
Entity Address, City or Town	Houston,
Entity Address, State or Province	TX
Entity Address, Country	US
Entity Address, Postal Zip Code	77010
City Area Code	(713)
Local Phone Number	309-7200
Title of 12(b) Security	Ordinary Shares, €0.04 Par Value
Trading Symbol	LYB
Security Exchange Name	NYSE
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
ICFR Auditor Attestation Flag	true
Document Financial Statement Error Correction [Flag]	false
Entity Shell Company	false
Entity Public Float			$ 24.8
Entity Common Stock, Shares Outstanding		323,446,166
Documents Incorporated by Reference	Portions of the 2025 Proxy Statement, in connection with the Company’s 2025 Annual Meeting of Shareholders (in Part III), as indicated herein.
Entity Central Index Key	0001489393
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	FY
Amendment Flag	false
United Kingdom
Entity Addresses [Line Items]
Entity Address, Address Line One	4th Floor, One Vine Street
Entity Address, City or Town	London
Entity Address, Country	GB
Entity Address, Postal Zip Code	W1J0AH
Country Region	+44 (0)
City Area Code	207
Local Phone Number	220 2600
The Netherlands
Entity Addresses [Line Items]
Entity Address, Address Line One	Delftseplein 27E
Entity Address, City or Town	Rotterdam
Entity Address, Country	NL
Entity Address, Postal Zip Code	3013AA
Country Region	+31 (0)
City Area Code	10
Local Phone Number	2755 500

Consolidated Statements of Inco

Consolidated Statements of Income - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Sales and other operating revenues:
Sales and other operating revenues:	$ 40,302	$ 41,107	$ 50,451
Operating costs and expenses:
Cost of sales	35,738	35,849	43,847
Impairments	949	518	69
Selling, general and administrative expenses	1,663	1,557	1,310
Research and development expenses	135	130	124
Operating costs and expenses	38,485	38,054	45,350
Operating income	1,817	3,053	5,101
Interest expense	(481)	(477)	(287)
Interest income	150	129	29
Gain on sale of business	284	0	0
Other income (expense), net	50	(58)	(72)
Income from continuing operations before equity investments and income taxes	1,820	2,647	4,771
(Loss) income from equity investments	(217)	(20)	5
Income from continuing operations before income taxes	1,603	2,627	4,776
Provision for income taxes	240	501	882
Income from continuing operations	1,363	2,126	3,894
Income (loss) from discontinued operations, net of tax	4	(5)	(5)
Net (loss) income	1,367	2,121	3,889
Dividends on redeemable non-controlling interests	(7)	(7)	(7)
Net income attributable to the Company shareholders	$ 1,360	$ 2,114	$ 3,882
Net income (loss) attributable to the Company shareholders —Basic:
Continuing operations (in dollars per share)	$ 4.15	$ 6.50	$ 11.86
Discontinued operations (in dollars per share)	0.01	(0.02)	(0.02)
Basic (in dollars in per share)	4.16	6.48	11.84
Net income (loss) attributable to the Company shareholders - Diluted:
Continuing operations (in dollars per share)	4.14	6.48	11.83
Discontinued operations (in dollars per share)	0.01	(0.02)	(0.02)
Diluted (in dollars per share)	$ 4.15	$ 6.46	$ 11.81
Trade
Sales and other operating revenues:
Sales and other operating revenues:	$ 39,668	$ 40,493	$ 49,439
Related parties
Sales and other operating revenues:
Sales and other operating revenues:	$ 634	$ 614	$ 1,012

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Statement of Comprehensive Income [Abstract]
Net income	$ 1,367	$ 2,121	$ 3,889
Other comprehensive income (loss), net of tax—
Financial derivatives	115	(80)	208
Defined benefit pension and other postretirement benefit plans	(2)	(97)	346
Foreign currency translations	(169)	73	(123)
Total other comprehensive income (loss), net of tax	(56)	(104)	431
Comprehensive income	1,311	2,017	4,320
Dividends on redeemable non-controlling interests	(7)	(7)	(7)
Comprehensive income attributable to the Company shareholders	$ 1,304	$ 2,010	$ 4,313

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Current assets:
Cash and cash equivalents	$ 3,375	$ 3,390
Restricted cash	13	15
Inventories	4,658	4,765
Prepaid expenses and other current assets	928	1,475
Total current assets	12,266	13,152
Operating lease assets	1,467	1,529
Property, plant and equipment, net	15,066	15,547
Equity investments	4,121	3,907
Goodwill	1,561	1,647
Intangible assets, net	577	641
Other assets	688	577
Total assets	35,746	37,000
Current liabilities:
Current maturities of long-term debt	498	782
Short-term debt	119	117
Accrued and other current liabilities	2,356	2,436
Total current liabilities	6,705	7,150
Long-term debt	10,532	10,333
Operating lease liabilities	1,419	1,409
Other liabilities	1,967	2,164
Deferred income taxes	2,535	2,886
Commitments and contingencies
Redeemable non-controlling interests	114	114
Shareholders’ equity:
Ordinary shares, €0.04 par value, 1,275 million shares authorized, 323,889,832 and 324,483,402 shares outstanding, respectively	19	19
Additional paid-in capital	6,150	6,145
Retained earnings	9,325	9,692
Accumulated other comprehensive loss	(1,532)	(1,476)
Treasury stock, at cost, 16,532,666 and 15,939,096 ordinary shares, respectively	(1,500)	(1,450)
Total Company share of shareholders’ equity	12,462	12,930
Non-controlling interests	12	14
Total equity	12,474	12,944
Total liabilities, redeemable non-controlling interests and equity	35,746	37,000
Trade
Current assets:
Accounts receivable:	3,121	3,356
Current liabilities:
Accounts payable:	3,220	3,354
Related parties
Current assets:
Accounts receivable:	171	151
Current liabilities:
Accounts payable:	$ 512	$ 461

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parentheticals) - € / shares	Dec. 31, 2024	Dec. 31, 2023
Statement of Financial Position [Abstract]
Ordinary shares par value (in euros per share)	€ 0.04	€ 0.04
Ordinary shares, shares authorized (in shares)	1,275,000,000	1,275,000,000
Ordinary shares, shares outstanding (in shares)	323,889,832	324,483,402
Treasury stock, shares (in shares)	16,532,666	15,939,096

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Cash flows from operating activities:
Net income	$ 1,367	$ 2,121	$ 3,889
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	1,522	1,534	1,267
Impairments	949	518	69
Amortization of debt-related costs	11	9	14
Share-based compensation	91	91	70
Equity investments—
Equity loss (income)	217	20	(5)
Distributions of earnings, net of tax	122	169	349
Deferred income tax provision (benefit)	(437)	43	369
Gain on sale of business	(284)	0	0
Changes in assets and liabilities that provided (used) cash:
Accounts receivable	127	110	1,005
Inventories	25	18	(91)
Accounts payable	(122)	141	(464)
Other, net	231	168	(353)
Net cash provided by operating activities	3,819	4,942	6,119
Cash flows from investing activities:
Expenditures for property, plant and equipment	(1,839)	(1,531)	(1,890)
Proceeds from sale of business	689	0	15
Acquisition of equity method investments	(551)	(102)	(4)
Proceeds from settlement of net investment hedges	967	903	614
Payments for settlement of net investment hedges	(921)	(820)	(501)
Other, net	(198)	(227)	(211)
Net cash used in investing activities	(1,853)	(1,777)	(1,977)
Cash flows from financing activities:
Repurchases of Company ordinary shares	(195)	(211)	(420)
Dividends paid - common stock	(1,720)	(1,610)	(3,246)
Issuance of long-term debt	744	500	0
Payments of debt issuance costs	(10)	(5)	0
Repayments of long-term debt	(776)	(425)	0
Net repayments of commercial paper	0	(200)	(4)
Net collateral received from interest rate derivatives	0	0	238
Proceeds from settlement of cash flow hedges	882	20	0
Payments for settlement of cash flow hedges	(835)	0	0
Other, net	15	(19)	25
Net cash used in financing activities	(1,895)	(1,950)	(3,407)
Effect of exchange rate changes on cash	(88)	34	(56)
Increase (decrease) in cash and cash equivalents and restricted cash	(17)	1,249	679
Cash and cash equivalents and restricted cash at beginning of period	3,405	2,156	1,477
Cash and cash equivalents and restricted cash at end of period	3,388	3,405	2,156
Supplemental Cash Flow Information:
Interest paid, net of capitalized interest	503	487	297
Net income taxes paid	$ 343	$ 465	$ 746

Consolidated Statements of Shar

Consolidated Statements of Shareholders' Equity - USD ($) $ in Millions	Total	Ordinary shares	Treasury stock, common	Additional Paid-in Capital	Retained Earnings	Accumulated Other Comprehensive Loss	Company Share of Shareholders’ Equity	Non- Controlling Interests
Beginning balance at Dec. 31, 2021		$ 19	$ (965)	$ 6,044	$ 8,563	$ (1,803)	$ 11,858	$ 14
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	$ 3,889				3,889		3,889	0
Other comprehensive income (loss)	431					431	431	0
Share-based compensation			25	75	(4)		96	0
Dividends - common stock					(1,542)		(1,542)	0
Special dividends - common stock					(1,704)		(1,704)	0
Dividends - redeemable non-controlling interests	(7)				(7)		(7)	0
Repurchases of Company ordinary shares	(406)		(406)				(406)	0
Ending balance at Dec. 31, 2022		19	(1,346)	6,119	9,195	(1,372)	12,615	14
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	2,121				2,121		2,121	0
Other comprehensive income (loss)	(104)					(104)	(104)	0
Share-based compensation			107	26	(7)		126	0
Dividends - common stock	(1,610)				(1,610)		(1,610)	0
Dividends - redeemable non-controlling interests	(7)				(7)		(7)	0
Repurchases of Company ordinary shares	(211)		(211)				(211)	0
Ending balance at Dec. 31, 2023	12,944	19	(1,450)	6,145	9,692	(1,476)	12,930	14
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	1,367				1,367		1,367	0
Other comprehensive income (loss)	(56)					(56)	(56)	0
Share-based compensation			148	5	(7)		146	0
Dividends - common stock	(1,720)				(1,720)		(1,720)	0
Dividends - redeemable non-controlling interests	(7)				(7)		(7)	0
Repurchases of Company ordinary shares	(198)		(198)				(198)	0
Distributions to non-controlling interests								(2)
Ending balance at Dec. 31, 2024	$ 12,474	$ 19	$ (1,500)	$ 6,150	$ 9,325	$ (1,532)	$ 12,462	$ 12

Consolidated Statements of Sh_2

Consolidated Statements of Shareholders' Equity (Parentheticals) - $ / shares	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Statement of Stockholders' Equity [Abstract]
Common stock, dividends per share (in dollars per share)	$ 5.27	$ 4.94	$ 4.70
Common stock, special dividends per share (in dollars per share)			5.20
Redeemable non-controlling interests, dividends per share (in dollars per share)	$ 60	$ 60	$ 60

Description of Company and Oper

Description of Company and Operations	12 Months Ended
	Dec. 31, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Description of Company and Operations	Description of Company and Operations LyondellBasell Industries N.V. is a limited liability company ( Naamloze Vennootschap ) incorporated under Dutch law by deed of incorporation dated October 15, 2009. Unless otherwise indicated, the “Company,” “we,” “us,” “our” or similar words are used to refer to LyondellBasell Industries N.V. together with its consolidated subsidiaries (“LyondellBasell N.V.”). LyondellBasell N.V. is a worldwide manufacturer of chemicals and polymers, a refiner of crude oil, a significant producer of gasoline blending components and a developer and licensor of technologies for the production of polymers.

Summary of Significant Accounti

Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2024
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Summary of Significant Accounting Policies Basis of Preparation and Consolidation The accompanying Consolidated Financial Statements have been prepared from the books and records of LyondellBasell N.V. under accounting principles generally accepted in the United States (“U.S. GAAP”). Subsidiaries are defined as being those companies over which we, either directly or indirectly, have control through a majority of the voting rights or the right to exercise control or to obtain the majority of the benefits and be exposed to the majority of the risks. Subsidiaries are consolidated from the date on which control is obtained until the date that such control ceases. All intercompany transactions and balances have been eliminated in consolidation. Cash and Cash Equivalents Our cash equivalents consist of highly liquid debt instruments such as certificates of deposit, commercial paper and money market accounts with major international banks and financial institutions. Cash equivalents also include other instruments with maturities of three months or less when acquired and exclude restricted cash. Short-Term Investments Our investments in debt securities are classified as available-for-sale and held-to-maturity on the basis of our intent and ability to hold the investments. Investments classified as available-for-sale are carried at fair value with changes reflected in other comprehensive income (loss). Credit-related impairments, measured using expected cash flows and limited to the amount by which the amortized cost basis of a security exceeds its fair value, are recognized through an allowance for expected credit losses, and adjusted subsequently if conditions change, with a corresponding impact in earnings. Where there is an intention or a requirement to sell an impaired available-for-sale debt security, the entire impairment is recognized in earnings with a corresponding adjustment to the amortized cost basis of the security. Investments classified as held-to-maturity are carried at amortized cost less allowance for credit losses recorded through Net income. Trade Receivables Trade receivables are amounts due from customers for merchandise sold or services performed in the ordinary course of business and are carried at transaction price net of allowance for credit losses. Allowance for credit losses is measured using historical loss rates for the respective risk categories and incorporating forward-looking estimates. The corresponding expense for the loss allowance is reflected in Selling, general and administrative expenses. Inventories Cost of our raw materials, work-in-progress and finished goods inventories is determined using the last-in, first-out (“LIFO”) method and is carried at the lower of cost or market value. Cost of our materials and supplies inventory is determined using the average cost method and is carried at the lower of cost and net realizable value. Inventory exchange transactions, which involve fungible commodities, are not accounted for as purchases and sales. Any resulting volumetric exchange balances are accounted for as inventory, with cost determined using the LIFO method. Property, Plant and Equipment Property, plant and equipment are recorded at historical cost. Historical cost includes expenditures that are directly attributable to the acquisition of the items. Costs may also include borrowing costs incurred on debt during construction of major projects exceeding one year, costs of major maintenance arising from turnarounds of major units and legally obligated decommissioning costs. Routine maintenance costs are expensed as incurred. Depreciation is computed using the straight-line method over the estimated useful lives of assets to their residual values. The residual values and useful lives of assets are reviewed, and adjusted if appropriate, whenever events or circumstances indicate that a revision is warranted. Land is not depreciated. We evaluate property, plant and equipment for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. Long-lived assets are grouped at the lowest level for which there are identifiable cash flows that are largely independent of the cash flows of other groups of assets, which, for us, is generally at the plant group level (or, at times, individual plants in certain circumstances where we have isolated production units with separately identifiable cash flows). If it is determined that an asset or asset group’s carrying value exceeded its estimated fair value, the asset is written down to its estimated fair value. Equity Investments We account for equity method investments (“equity investments”) using the equity method of accounting if we have the ability to exercise significant influence over, but do not control, an investee. Significant influence generally exists if we have an ownership interest representing between 20% and 50% of the voting rights. Under the equity method of accounting, investments are stated initially at cost and are adjusted for subsequent additional investments and our proportionate share of profit or losses and distributions. We record our share of the profits or losses of the equity investments, net of income taxes, in the Consolidated Statements of Income. When our share of losses in an equity investment equals or exceeds the carrying amount of our investment including advances made by us, we do not recognize further losses, unless we have guaranteed obligations or are otherwise committed to provide further financial support to the investee. We discontinue applying equity method accounting when our investment is reduced to zero. We record equity losses in excess of the carrying amount of an investment only when we guarantee obligations or we are otherwise committed to provide further financial support to the affiliate. Equity method of accounting is resumed only after the investment realizes net income in excess of our share of net losses not recognized during the period equity method was suspended. We assess our equity investments for impairment whenever events or changes in circumstances indicate that the carrying amount of the investment may not be recoverable. If the decline in value is considered to be other-than-temporary, the investment is written down to its estimated fair value. Investments in PO Joint Ventures and the Louisiana Joint Venture —We share ownership with Covestro PO LLC, a subsidiary of Covestro AG (collectively “Covestro”), in a U.S. propylene oxide (“PO”) joint venture located in Texas (the “U.S. PO Joint Venture”) and a PO/styrene monomer (“SM” or “styrene”) joint venture located in The Netherlands (the “European PO Joint Venture”, collectively the “PO Joint Ventures”). We operate the PO Joint Ventures manufacturing facilities and arrange the logistics of product delivery. Each partner funds their share of capital expenditures, reimburses manufacturing operating expenses excluding depreciation and amortization expenses, and receives a share of production in-kind. The U.S. PO Joint Venture owns a PO/SM and a PO/tertiary butyl alcohol (“TBA”) plant. Covestro’s interest in the U.S. PO Joint Venture represents ownership of an in-kind portion of the PO production of 680 thousand tons per year. We take, in-kind, the remaining PO production and all co-product production. The European PO Joint Venture owns a PO/SM plant in which each partner is entitled to 50% of the annual in-kind cost-based PO and SM production. We share ownership in the Louisiana Integrated PolyEthylene JV LLC joint venture (the “Louisiana Joint Venture”) with Sasol Chemicals (USA) LLC (“Sasol”). Under this arrangement, we have a 50% ownership interest in an ethane cracker, a low-density and linear-low density polyethylene plant, and associated infrastructure. Under the terms of the joint venture agreement, each partner provides pro-rata share of ethane feedstocks and off-takes pro-rata shares of cracker and polyethylene products in-kind. We operate the Louisiana Joint Venture assets and market the polyethylene off-take for all partners through our global sales team. We account for the PO Joint Ventures and the Louisiana Joint Venture using the equity method. The joint ventures were formed solely for the benefit of the partners and do not manufacture for any other parties. We report the cost of our product off-take as Inventory and the equity loss as Cost of sales in our Consolidated Financial Statements. Related production cash flows are reported in the operating cash flow section of the Consolidated Statements of Cash Flows. Our equity investment in the PO Joint Ventures and the Louisiana Joint Venture represents our share of the manufacturing plants and is decreased by recognition of our share of equity loss, which is equal to the depreciation of the assets of these joint ventures. Other changes in the investment balance are principally due to our additional capital contributions to these joint ventures to fund capital expenditures. Such contributions are reported in the investing cash flow section of the Consolidated Statements of Cash Flows. Our product off-take of PO and its co-products from the PO Joint Ventures was 2.0 million, 2.2 million and 2.4 million tons in 2024, 2023 and 2022, respectively. Our product off-take of ethylene and polyethylene produced from the Louisiana Joint Venture was 1.1 million, 1.2 million, and 1.0 million tons in 2024, 2023, and 2022, respectively. Redeemable Non-controlling Interests Our redeemable non-controlling interests relate to shares of cumulative perpetual special stock (“redeemable non-controlling interest stock”) issued by our consolidated subsidiary, formerly known as A. Schulman, Inc. (“A. Schulman”). Holders of redeemable non-controlling interest stock are entitled to receive cumulative dividends at the rate of 6% per share and the liquidation preference of $1,000 per share. Redeemable non-controlling interest stock may be redeemed at any time at the discretion of the holders and is reported in the Consolidated Balance Sheets outside of permanent equity. Dividends on these shares are deducted from or added to the amount of Income (loss) attributable to the Company shareholders if and when declared by the Company. Goodwill Goodwill is tested for impairment annually in the fourth quarter or whenever events or changes in circumstances indicate that the fair value of a reporting unit with goodwill is less than its carrying amount. We first assess qualitative factors to determine whether it is more likely than not that the fair value of a reporting unit is less than its carrying value. Qualitative factors assessed for each of the reporting units include, but are not limited to, changes in long-term commodity prices, discount rates, competitive environments, planned capacity, cost factors such as raw material prices, and financial performance of the reporting units. If the qualitative assessment indicates that it is more likely than not that the carrying value of a reporting unit exceeds its fair value, a quantitative test is required. If the carrying value of the reporting unit including goodwill exceeds its fair value, an impairment charge equal to the excess would be recognized up to a maximum amount of goodwill allocated to that reporting unit. In the fourth quarter of 2024, we performed a qualitative impairment assessment of our reporting units, which indicated that it was more likely than not that the fair value of our reporting units was greater than their carrying value including goodwill. Accordingly, a quantitative goodwill impairment test was not required. Intangible Assets Intangible assets consist of emission allowances, various contracts, software costs, patents and trademarks, know-how, and in-process research and development costs. These assets are amortized using the straight-line method over their estimated useful lives or over the term of the related agreement. We evaluate definite-lived intangible assets with the associated long-lived asset group for impairment whenever impairment indicators are present. Research and Development Research and development (“R&D”) costs are expensed when incurred. Subsidies for R&D are included in Other income (expense), net. Depreciation expense related to assets employed in R&D is included as a cost of R&D. Income Taxes The income tax for the period comprises current and deferred tax. Income tax is recognized in the Consolidated Statements of Income, except to the extent that it relates to items recognized in other comprehensive income (loss) or directly in equity. In these cases, the applicable tax amount is recognized in other comprehensive income (loss) or directly in equity, respectively. Deferred income taxes reflect the tax effects of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts recognized for income tax purposes, as well as the net tax effects of net operating loss carryforwards. Valuation allowances are provided against deferred tax assets when it is more likely than not that some portion or all of the deferred tax asset will not be realized. We recognize uncertain income tax positions in our financial statements when we believe it is more likely than not, based on the technical merits, that the position or a portion thereof will be sustained upon examination. For a position that is more likely than not to be sustained, the benefit recognized is measured at the largest cumulative amount that is greater than 50 percent likely of being realized. Other Provisions Environmental Remediation Costs —Environmental remediation liabilities include liabilities related to sites we currently own, sites we no longer own, as well as sites where we have operated that belong to other parties. Liabilities for anticipated expenditures related to investigation and remediation of contaminated sites are accrued when it is probable a liability has been incurred and the amount of the liability can be reasonably estimated. Only certain post-remediation monitoring costs, the timing of which can be determined with reasonable certainty, are discounted to present value. Asset Retirement Obligations —At some sites, we are legally obligated to decommission our plants upon site exit. Asset retirement obligations are recorded at the fair value using the present value of the estimated costs to retire the asset at the time the obligation is incurred. That cost, which is capitalized as part of the related long-lived asset, is depreciated on a straight-line basis over the remaining useful life of the related asset. Accretion expense in connection with the discounted liability is recognized over the estimated timeline to settle the obligation. Such depreciation and accretion expenses are included in Cost of sales. Foreign Currency Translation and Remeasurement Functional and Reporting Currency —Items included in the financial information of each of LyondellBasell N.V.’s entities are measured using the currency of the primary economic environment in which the entity operates (“the functional currency”) and then translated to the U.S. dollar (“the reporting currency”) as follows: • Assets and liabilities for each balance sheet presented are translated at the closing rate at the date of that balance sheet; • Income and expenses for each income statement are translated at monthly average exchange rates; and • All resulting exchange differences are recognized as a separate component within other comprehensive income (loss) (foreign currency translation adjustments). Transactions and Balances —Foreign currency transactions are recorded in their respective functional currency using exchange rates prevailing at the dates of the transactions. Exchange gains and losses resulting from the settlement of such transactions and from remeasurement of monetary assets and liabilities denominated in foreign currencies at the balance sheet date are recognized in earnings. Revenue Recognition Substantially all our revenues are derived from contracts with customers. We account for contracts when both parties have approved the contract and are committed to perform, the rights of the parties and payment terms have been identified, the contract has commercial substance and collectability is probable. Revenue is recognized when obligations under the terms of a contract with our customer are satisfied. This generally occurs at the point in time when performance obligations are fulfilled and control transfers to the customer. In most instances, control transfers upon transfer of risk of loss and title to the customer, which usually occurs when we ship products to the customer from our manufacturing facility. Revenue is measured as the amount of consideration we expect to receive in exchange for transferring goods. Customer incentives are generally based on volumes purchased and recognized over the period earned. Sales, value-added, and other taxes that we collect concurrent with revenue-producing activities are excluded from the transaction price as they represent amounts collected on behalf of third parties. We apply the practical expedient to recognize the incremental costs of obtaining a contract as an expense when incurred if the amortization period of the asset that we otherwise would have recognized is one year or less. Shipping and handling costs are treated as a fulfillment cost and not as a separate performance obligation. We have marketing arrangements to off-take and sell the production of some of our joint ventures in return for a percentage of the price realized on the sales to the end customer. In such arrangements, when we obtain control of the product, revenue and cost of sales are presented on a gross basis. Otherwise, we recognize revenue, net of amounts due to the joint venture, which represents commissions earned. Payments are typically required within a short period following the transfer of control of the product to the customer. We occasionally require customers to prepay purchases to ensure collectability. Such prepayments do not represent financing arrangements, since payment occurs within a short time frame. We apply the practical expedient which permits us to disregard the effects of a significant financing component when, at contract inception, we expect the period between the payment and fulfillment of the performance obligation will be one year or less. Contract balances typically arise when a difference in timing between the transfer of control to the customer and receipt of consideration occurs. Our contract liabilities, which are reflected in our Consolidated Financial Statements as Accrued and other current liabilities, and Other liabilities, consist primarily of customer payments for products or services received before the transfer of control to the customer occurs. Share-Based Compensation We grant restricted stock units (“RSUs”), performance share units (“PSUs”), and other cash and stock awards to employees as a form of compensation. Prior to 2024, we also granted stock option awards (“Stock options”). Our share-based compensation awards are accounted for as equity-classified awards with compensation expense based on the grant date fair value and recognized over the vesting period in the income statement. We use a straight-line vesting method for cliff-vested awards and a graded vesting method for ratable-vested awards. We have elected to recognize forfeitures as they occur for stock-based compensation. When options are exercised and awards are paid out, shares are issued from our treasury shares. The holders of unvested RSUs are entitled to nonforfeitable dividend equivalents settled in the form of cash payments, which are recognized as dividends in Retained earnings. Outstanding PSUs accrue dividend equivalent units, which will be converted to shares upon payment at the end of the performance period and are classified as Accrued and other current liabilities and Other liabilities on the Consolidated Balance Sheets. Dividend equivalents for PSUs are also recorded in Retained earnings. See Notes 15 and 18 to the Consolidated Financial Statements for additional information. Leases Leases with a term longer than 12 months are recorded on the balance sheet as a lease asset and lease liability. If at inception of a contract, a lease is identified, we recognize a lease asset and a corresponding lease liability based on the present value of the lease payments over the lease term, discounted using our incremental borrowing rate, unless an implicit rate is readily determinable. Lease payments include fixed and variable lease components derived from usage or market-based indices, such as the consumer price index. Other variable lease payments may fluctuate for a variety of reasons including usage, output, insurance or taxes. These variable amounts are expensed as incurred and not included in the lease assets or lease liabilities. Options to extend or terminate a lease are reflected in the lease payments and lease term when it is reasonably certain that we will exercise those options. Leases are classified as either finance or operating, with classification affecting the pattern of expense recognition in the Consolidated Statements of Income. The majority of our leases are operating leases for which we recognize lease expense on a straight-line basis over the lease term. We apply the practical expedient to account for lease and associated non-lease components as a single lease component for all asset classes with the exception of utilities and pipeline assets within major manufacturing equipment. For these assets, non-lease components are separated from lease components and accounted for as normal operating expenses. Leases with an initial term of 12 months or less are recognized in the Consolidated Statements of Income on a straight-line basis over the lease term. Financial Instruments and Hedging Activities Pursuant to our risk management policies, we selectively enter into derivative transactions to manage market risk volatility associated with changes in commodity pricing, currency exchange rates and interest rates. Certain derivatives used for this purpose are designated as net investment hedges, cash flow hedges or fair value hedges. Derivative instruments are recorded at fair value on the balance sheet. Gains and losses related to changes in the fair value of derivative instruments not designated as hedges are recorded in earnings. Cash flows from derivatives designated as hedges are reported in our Consolidated Statements of Cash Flows under the same category as the cash flows from the hedged items unless the derivative contract contains a significant financing element. Cash flows for derivatives with a significant financing element are classified as Cash flows from financing activities. Cash flows related to economic hedges are classified consistent with the cash flows of the economic hedged items. Net Investment Hedges —We enter into foreign currency derivatives and foreign currency denominated debt to reduce the volatility in shareholders’ equity resulting from changes in currency exchange rates of our foreign subsidiaries with respect to the U.S. dollar. Our foreign currency derivatives consist of cross-currency contracts and forward exchange contracts. We use the critical terms approach through the application of the spot method to assess hedge effectiveness at least quarterly. For derivatives designated as net investment hedges, gains or losses attributable to changes in spot foreign exchange rates over the designation period are reflected in foreign currency translation adjustments within other comprehensive income (loss). Recognition in earnings is delayed until the net investment is sold or liquidated. At that time, the amount recognized is reported in the same line item as the gain or loss on the liquidation of the hedged foreign operations. For our cross-currency swaps, the associated interest receipts and payments are recorded in Interest expense. For our foreign currency forward contracts, we amortize initial forward point values on a straight-line basis to interest expense over the life of the hedging instrument. We monitor on a quarterly basis for any over-hedged positions requiring de-designation and re-designation of the hedge to remove such over-hedged condition. Cash Flow Hedges —We enter into cash flow hedges to manage the variability in cash flows of a future transaction. Our cash flow hedges include cross currency swaps, forward starting interest rate swaps and commodity swaps. For derivatives designated as cash flow hedges, the gains and losses are recorded in other comprehensive income (loss) and released to earnings in the same line item and in the same period during which the hedged item affects earnings. We use the critical terms and the quantitative long-haul methods to assess hedge effectiveness and monitor, at least quarterly, any change in effectiveness. We have cross-currency swap contracts designated as cash flow hedges to reduce our exposure to the foreign currency exchange risk associated with certain intercompany loans. Under the terms of these contracts, we make interest payments in euros and receive interest in U.S. dollars. Upon the maturities of these contracts, we will pay the principal amount of the loans in euros and receive U.S. dollars from our counterparties. We enter into forward-starting interest rate contracts to mitigate the risk of adverse changes in benchmark interest rates on future anticipated debt issuances. We also execute commodity futures, options and swaps to manage the volatility of the commodity price related to anticipated purchases of raw materials and product sales. We enter into over-the-counter commodity swaps and options with one or more counterparties whereby we pay a predetermined fixed price and receive a price based on the average monthly rate of a specified index for the specified nominated volumes. Fair Value Hedges —We use interest rate swaps as part of our current interest rate risk management strategy to achieve a desired proportion of variable versus fixed rate debt. Under these arrangements, we exchange fixed-rate for floating-rate interest payments to effectively convert our fixed-rate debt to floating-rate debt. For derivatives that have been designated as fair value hedges, the gains and losses of the derivatives and hedged items are recorded in earnings. We use the long-haul method to assess hedge effectiveness using a regression analysis approach at least quarterly. We perform the regression analysis over an observation period of three years, utilizing data that is relevant to the hedge duration. Fair Value Measurements We categorize assets and liabilities, measured at fair value, into one of three different levels depending on the observability of the inputs employed in the measurement. Level 1 inputs are quoted prices for identical instruments in active markets. Level 2 inputs are quoted prices for similar instruments in active markets; quoted prices for identical or similar instruments in markets that are not active; and model-derived valuations in which all significant inputs or significant value-drivers are observable. Level 3 inputs are model-derived valuations in which one or more significant inputs or significant value-drivers are unobservable. Fair value measurements are classified according to the lowest level input or value-driver that is significant to the valuation. A measurement may therefore be classified within Level 3 even though there may be significant inputs that are readily observable. Changes in Fair Value Levels —Management reviews the disclosures regarding fair value measurements at least quarterly. If an instrument classified as Level 1 subsequently ceases to be actively traded, it is transferred out of Level 1. In such cases, instruments are reclassified as Level 2, unless the measurement of its fair value requires the use of significant unobservable inputs, in which case it is reclassified as Level 3. We use the following inputs and valuation techniques to estimate the fair value of our financial instruments disclosed in Note 13 to the Consolidated Financial Statements. Cross-Currency Swaps —The fair value of our cross-currency swaps is calculated using the present value of future cash flows discounted using observable inputs such as known notional value amounts, yield curves, basis curves, as applicable, and with the foreign currency leg revalued using published spot and forward exchange rates on the valuation date. Forward-Starting and Fixed-for-Floating Interest Rate Swaps —The fair value of our forward-starting and fixed-for-floating interest rate swaps is calculated using the present value of future cash flows using observable inputs such as benchmark interest rates and market yield curves. Commodity Derivatives —The fair values of our commodity derivatives are measured using closing market prices of public exchanges and from third-party broker quotes and pricing providers. The fair value of our commodity swaps classified as Level 2 is determined using a combination of observable and unobservable inputs. The observable inputs consist of future market values of various crude and heavy fuel oils, which are readily available through public data sources. The unobservable input, which is the estimated discount or premium used in the market pricing, is calculated using an internally-developed, multi-linear regression model based on the observable prices of the known components and their relationships to historical prices. A significant change in this unobservable input would not have a material impact on the fair value measurement of our Level 2 commodity swaps. Forward Exchange Contracts —The fair value of our forward exchange contracts is based on forward market rates. Equity Securities— The fair value of our investment in equity securities is based on the net asset value provided by the fund administrator. Short-Term Debt —The fair value of short-term borrowings related to precious metal financing arrangements, accounted for as embedded derivatives, is determined based on the future price of the associated precious metal. Long-Term Debt —The fair value of our senior and guaranteed notes is calculated using pricing data obtained from well-established and recognized vendors of market data for debt valuations. Fair Value Measurements - Pension Assets We use the following inputs and valuation techniques to estimate the fair value of our pension assets disclosed in Note 14 to the Consolidated Financial Statements. Common and Preferred Stock— Valued at the closing price reported on the market on which the individual securities are traded. Fixed Income Securities— Certain securities that are not traded on an exchange are valued at the closing price reported by pricing services. Other securities are valued based on yields currently available on comparable securities of issuers with similar credit ratings. Commingled Funds— Valued based upon the net asset value of units of such commingled trust funds held at year end by the pension plans. Unit values are based on the fair value of the underlying assets of the fund derived from inputs principally from, or corroborated by, observable market data by correlation or other means. Real Estate— Valued based upon the net asset value of units of the real estate fund or partnership held by the master trust at year end. Hedge Funds— Valued based upon the unit values of such alternative investments held at year end by the pension plans. Unit values are based on the fair value of the underlying assets of the fund. Private Equity— Valued based upon the unit values of such alternative investments held at year end by the pension plans. Unit values are based on the fair value of the underlying assets of the fund. Certain securities held in the fund are valued at the closing price reported on an exchange or other established quotation service for over-the-counter securities. Other assets held in the fund are valued based on the most recent financial statements prepared by the fund manager. Convertible Securities— Valued at the quoted prices for similar assets or liabilities in active markets. U.S. Government Securities— Certain securities, including Separate Trading of Registered Interest and Principal of Securities, are valued at the closing price reported on the active market on which the individual securities are traded. Cash and Cash Equivalents— Valued at the quoted prices for identical assets or liabilities in active markets. Non-U.S. Insurance Arrangements —Valued based upon the estimated cash surrender

Revenues

Revenues	12 Months Ended
	Dec. 31, 2024
Revenue from Contract with Customer [Abstract]
Revenues	Revenues Contract Balances— Contract liabilities were $117 million and $175 million at December 31, 2024 and 2023, respectively. Revenue recognized in each reporting period, included in the contract liability balance at the beginning of the period, was immaterial. Disaggregation of Revenues —We participate globally across the petrochemical value chain and are an industry leader in many of our product lines. Our chemicals businesses consist primarily of large processing plants that convert large volumes of liquid and gaseous hydrocarbon feedstocks into plastic resins and other chemicals. Our chemical products tend to be basic building blocks for other chemicals and plastics. Our plastic products are used in large volumes as well as smaller specialty applications. Our refining business consists of our Houston refinery, which processes crude oil into refined products such as gasoline and distillates. Revenues disaggregated by key products are summarized below: Year Ended December 31, Millions of dollars 2024 2023 2022 Sales and other operating revenues: Olefins and co-products $ 3,889 $ 3,508 $ 4,782 Polyethylene 7,583 7,587 9,694 Polypropylene 6,287 5,642 7,458 Propylene oxide and derivatives 2,357 2,287 3,097 Oxyfuels and related products 5,074 5,640 5,482 Intermediate chemicals 2,693 2,864 4,012 Compounding and solutions 3,616 3,686 4,197 Refined products 8,080 9,179 10,975 Other 723 714 754 Total $ 40,302 $ 41,107 $ 50,451 The following table presents our revenues disaggregated by geography, based upon the location of the customer: Year Ended December 31, Millions of dollars 2024 2023 2022 Sales and other operating revenues: United States $ 19,467 $ 20,003 $ 24,789 Germany 2,410 2,547 3,555 China 2,375 2,164 2,533 Mexico 1,757 1,642 2,042 Italy 1,418 1,365 1,737 Japan 1,338 1,749 1,954 France 1,069 1,091 1,366 Poland 923 905 1,271 The Netherlands 724 805 1,178 Other 8,821 8,836 10,026 Total $ 40,302 $ 41,107 $ 50,451 Transaction Price Allocated to the Remaining Performance Obligations —Our contracts with customers are commodity supply arrangements that settle based on market prices at future delivery dates; therefore, transaction prices are entirely variable. Transaction prices are known at the time revenue is recognized since they are generally determined by the commodity price index at a specific date, at month-end or at the month average once products are shipped to our customers. Future estimates of transaction prices for disclosure purposes are substantially constrained as they are highly susceptible to factors outside our control, including volatility in commodity markets, industry production capacities and operating rates, planned and unplanned industry operating interruptions, foreign exchange rates and worldwide geopolitical trends. We have elected the practical expedient to not disclose unsatisfied performance obligations with an original contract duration of one year or less.

Related Party Transactions

Related Party Transactions	12 Months Ended
	Dec. 31, 2024
Related Party Transactions [Abstract]
Related Party Transactions	Related Party Transactions We have related party transactions with our joint ventures. These related party transactions include the sales and purchases of goods and services in the normal course of business as well as certain financing arrangements. These transactions are summarized as follows: Year Ended December 31, Millions of dollars 2024 2023 2022 The Company billed related parties for: Sales of products $ 634 $ 614 $ 1,012 Shared service agreements 10 4 2 Total $ 644 $ 618 $ 1,014 Related parties billed the Company for: Sales of products $ 3,899 $ 3,673 $ 4,837 Shared service agreements 40 79 94 Total $ 3,939 $ 3,752 $ 4,931

Accounts Receivable

Accounts Receivable	12 Months Ended
	Dec. 31, 2024
Receivables [Abstract]
Accounts Receivable	Accounts Receivable Our receivables primarily consist of customer accounts. We perform ongoing credit evaluations of our customers’ financial condition and, in certain circumstances, require letters of credit or corporate guarantees from them. Accounts receivable are reflected in the Consolidated Balance Sheets, net of allowance for credit losses of $4 million and $6 million as December 31, 2024 and 2023, respectively. We recorded allowances for credit losses for receivables, which are reflected in the Consolidated Statements of Income, however, such amounts were immaterial for each of the years ended December 31, 2024, 2023 and 2022.

Inventories

Inventories	12 Months Ended
	Dec. 31, 2024
Inventory Disclosure [Abstract]
Inventories	Inventories Inventories consisted of the following components at December 31: Millions of dollars 2024 2023 Finished goods $ 3,014 $ 3,134 Work-in-process 145 182 Raw materials and supplies 1,499 1,449 Total inventories $ 4,658 $ 4,765 At December 31, 2024 and 2023, approximately 75% and 78%, respectively, of our inventories were valued using the last in, first out (“LIFO”) method and the remaining inventories, consisting primarily of materials and supplies, were valued at the moving average cost method. The excess of the estimated net realizable value of our inventories over LIFO cost was approximately $1,310 million and $1,478 million at December 31, 2024 and 2023, respectively.

Property, Plant and Equipment,

Property, Plant and Equipment, Goodwill and Intangible Assets	12 Months Ended
	Dec. 31, 2024
Property, Plant and Equipment, Goodwill and Intangible Assets [Abstract]
Property, Plant and Equipment, Goodwill and Intangible Assets	Property, Plant and Equipment, Goodwill and Intangible Assets Property, Plant and Equipment —The components of property, plant and equipment, at cost, and the related accumulated depreciation are as follows at December 31: Millions of dollars Estimated Useful Life (years) 2024 2023 Land $ 280 $ 327 Major manufacturing equipment 25 14,303 14,875 Buildings 30 2,508 2,513 Light equipment and instrumentation 5 - 20 3,471 3,793 Office furniture 15 21 21 Major turnarounds 4 - 7 1,803 1,888 Information system equipment 3 - 5 70 67 Construction in progress 1,718 1,422 Total property, plant and equipment 24,174 24,906 Less accumulated depreciation (9,108) (9,359) Property, plant and equipment, net $ 15,066 $ 15,547 Capitalized Interest— We capitalize interest costs incurred on funds used to construct property, plant and equipment. In 2024, 2023 and 2022, we capitalized interest of $19 million, $7 million and $114 million, respectively. Intangible Assets —The components of identifiable intangible assets, at cost, and the related accumulated amortization are as follows at December 31: 2024 2023 Millions of dollars Cost Accumulated Net Cost Accumulated Net Emission allowances $ 744 $ (525) $ 219 $ 760 $ (514) $ 246 Customer relationships 309 (125) 184 317 (108) 209 Software costs 188 (86) 102 161 (63) 98 Other 728 (656) 72 736 (648) 88 Total intangible assets $ 1,969 $ (1,392) $ 577 $ 1,974 $ (1,333) $ 641 Amortization of these identifiable intangible assets for the next five years is expected to be $92 million in 2025, $73 million in 2026, $57 million in 2027, $42 million in 2028 and $42 million in 2029. Depreciation and Amortization Expense —Depreciation and amortization expense is summarized as follows: Year Ended December 31, Millions of dollars 2024 2023 2022 Property, plant and equipment $ 1,323 $ 1,303 $ 1,033 PO Joint Ventures and Louisiana Joint Venture 118 148 155 Emission allowances 8 8 8 Customer relationships 21 20 19 Software costs 23 17 14 Other 29 38 38 Total depreciation and amortization $ 1,522 $ 1,534 $ 1,267 Impairment —In 2024, we announced a strategic review of some of our European assets with the goal of strengthening our future profitability. The review is ongoing, and we remain committed to safe and efficient operations as well as delivering on our customer commitments. During the fourth quarter of 2024, as a part of our quarterly asset impairment analysis, we assessed the assets included in the scope of our strategic review for impairment. Our assessment resulted in the recognition of a $837 million non-cash property, plant and equipment impairment charge in our O&P-EAI segment. The impairment charge reflects challenging market conditions in the region. Additionally, unfavorable market conditions resulted in the loss of customers in our APS specialty powders business unit, resulting in a non-cash impairment charge of $55 million related to property, plant and equipment. Fair values for these impairments were determined utilizing a discounted cash flow method under the income approach and assumptions including management’s view on long-term growth rates in our industry, discount rates and other assumptions based on a market participant perspective. In the fourth quarter of 2024 we launched a marketing effort to gauge market interest in the European assets included in our strategic review. Fair value indicators obtained through our marketing efforts were also considered. These are inherently subjective fair value measurements and are classified as Level 3 within the fair value hierarchy and reflected as Impairments in the Consolidated Statements of Income. Asset Retirement Obligations —In certain cases, we are contractually obligated to decommission our plants upon exiting a site. In such cases, we have accrued the net present value of the estimated costs. As of December 31, 2024 and 2023 asset retirement obligations associated with our planned exit from the refinery business were $262 million and $259 million, respectively. The remaining asset retirement obligations are primarily related to our facilities in Europe. The changes in our asset retirement obligations are as follows: Year Ended December 31, Millions of dollars 2024 2023 Beginning balance $ 311 $ 305 Liabilities settled (6) (5) Changes in estimates 3 — Accretion expense 9 10 Effects of exchange rate changes (2) 1 Ending balance $ 315 $ 311 Although we may have asset retirement obligations associated with some of our other facilities, the present value of those obligations is not material in the context of an indefinite expected life of the facilities. We continually review the optimal future alternatives for our facilities. Any decision to retire one or more facilities may result in an increase in the present value of such obligations. Discontinued Operations —We began reporting the Berre refinery as a discontinued operation in the second quarter of 2012. The estimated cost and associated cash flows pertaining to the final closure and dismantlement of our Berre refinery from the Prefect of Bouches du Rhone are not deemed to be material. We anticipate the exit of our Houston refinery operations will be substantially completed in the first quarter of 2025. As a result, we will report these operations as discontinued operations in the first quarter of 2025. See Note 20 to the Consolidated Financial Statements for additional information. Goodwill —The changes in the carrying amount of goodwill in each of the Company’s reportable segments for the years ended December 31, 2024 and 2023 were as follows: Millions of dollars O&P - O&P - I&D APS Technology Total December 31, 2022 $ 162 $ 86 $ 201 $ 1,370 $ 8 $ 1,827 Reallocation of goodwill 315 269 — (584) — — Acquisitions — — — 31 — 31 Assets held for sale — — (14) — — (14) Impairment charge — — — (252) — (252) Foreign currency translation adjustments — 25 28 2 — 55 December 31, 2023 477 380 215 567 8 1,647 Foreign currency translation adjustments (5) (25) (6) (50) — (86) December 31, 2024 $ 472 $ 355 $ 209 $ 517 $ 8 $ 1,561 Goodwill as of December 31, 2024 and 2023 is presented net of accumulated impairment charges of $252 million related to a 2023 impairment charge recognized in our Advanced Polymer Solutions segment. As of December 31, 2022, goodwill included in our Advanced Polymer Solutions reporting unit was $1,370 million, the majority of which related to the 2018 acquisition of A. Schulman. As of December 31, 2022, a large portion of the Advanced Polymer Solutions reporting unit’s fair value was derived from our Catalloy and polybutene-1 businesses, which had disproportionately low carrying values in comparison to the remaining assets of the reporting unit, which had relatively higher carrying values due to the 2018 purchase price allocation associated with the acquisition of A. Schulman. Effective January 1, 2023, our Catalloy and polybutene-1 businesses were moved from our Advanced Polymer Solutions segment and reintegrated into our Olefins and Polyolefins-Americas and Olefins and Polyolefins-Europe, Asia, International segments. Accordingly, on January 1, 2023, we allocated goodwill of $584 million from our Advanced Polymer Solutions segment to our Olefins and Polyolefins-Americas and Olefins and Polyolefins-Europe, Asia, International segments. The amounts allocated were $315 million and $269 million for Olefins and Polyolefins-Americas and Olefins and Polyolefins-Europe, Asia, International segments, respectively. The allocation was based on the fair values of the businesses that were reintegrated relative to the fair value of the Advanced Polymer Solutions segment. As a result of the reallocation of goodwill and the change in both fair value and carrying value among reporting units, we recognized a non-cash goodwill impairment charge of $252 million in the first quarter of 2023 in our Advanced Polymer Solutions segment. Fair values were determined utilizing a discounted cash flow method under the income approach and assumptions including management’s view on long-term growth rates in our industry, discount rates and other assumptions based on a market participant perspective, which are inherently subjective. The fair value of the reporting unit is Level 3 within the fair value hierarchy. The charge is reflected as Impairments in the Consolidated Statements of Income.

Equity Investments

Equity Investments	12 Months Ended
	Dec. 31, 2024
Equity Method Investments and Joint Ventures [Abstract]
Equity Investments	Equity Investments Our principal equity investments are as follows at December 31: Percent of Ownership 2024 2023 Olefins and Polyolefins-Americas Louisiana Joint Venture 50.00 % 50.00 % Indelpro S.A. de C.V. 49.00 % 49.00 % Olefins and Polyolefins-Europe, Asia, International Basell Orlen Polyolefins Sp. Z.o.o. 50.00 % 50.00 % PolyMirae Co. Ltd. 50.00 % 50.00 % Bora LyondellBasell Petrochemical Co. Ltd. 50.00 % 50.00 % National Petrochemical Industrial Company 35.00 % — % HMC Polymers Company Ltd. 28.56 % 28.56 % Al-Waha Petrochemicals Ltd. 25.00 % 25.00 % Saudi Ethylene & Polyethylene Company Ltd. 25.00 % 25.00 % Saudi Polyolefins Company 25.00 % 25.00 % Intermediates and Derivatives U.S. PO Joint Venture 60.62 % 60.62 % European PO JV 50.00 % 50.00 % Ningbo ZRCC Lyondell Chemical Co. Ltd. 26.65 % 26.65 % The following table summarizes changes in our equity investments: Year Ended December 31, Millions of dollars 2024 2023 Beginning balance $ 3,907 $ 4,295 Capital contributions 113 54 Loss from equity investments (217) (20) Acquisition of equity investments 551 102 Distribution of earnings, net of tax (122) (169) Depreciation of PO Joint Ventures and Louisiana Joint Venture (118) (148) Impairments (13) (192) Currency exchange effects (26) 9 Other 46 (24) Ending balance $ 4,121 $ 3,907 Capital contributions in 2024 and 2023 include $84 million and $32 million, respectively, related to our PO Joint Ventures. Acquisition of Joint Venture— In May 2024, we acquired a 35% interest in Saudi Arabia-based National Petrochemical Industrial Company (“NATPET”) from Alujain Corporation for approximately $500 million. The joint venture currently has the capacity to produce 400 thousand tons of polypropylene per year. We will market the majority of the off-take through our global sales team. The joint venture is included in our O&P-EAI segment and accounted for using the equity method of accounting. Impairments— During the fourth quarter of 2023, we recognized a non-cash impairment charge of $192 million related to our European PO joint venture due to a trend of negative financial performance and the unfavorable long-term economic outlook for the joint venture. The fair value of our investment was determined using an income approach and the significant inputs used in our fair value determination, including projected cash flows and the discount rate, are considered Level 3. This charge is reflected as Impairments in the Consolidated Statements of Income. Summarized balance sheet information of our investments accounted for under the equity method (presented on a 100% basis) at December 31 are as follows: Millions of dollars 2024 2023 Current assets $ 3,230 $ 3,622 Noncurrent assets 8,517 10,810 Total assets 11,747 14,432 Current liabilities 1,637 2,903 Noncurrent liabilities 1,064 2,300 Net assets $ 9,046 $ 9,229 Summarized income statement information of our investments accounted for under the equity method (presented on a 100% basis) are as follows: Year Ended December 31, Millions of dollars 2024 2023 2022 Revenues $ 13,113 $ 12,540 $ 15,435 Cost of sales (12,669) (12,044) (14,900) Gross profit 444 496 535 Net operating expenses (614) (514) (519) Operating (loss) income (170) (18) 16 Interest income 26 23 7 Interest expense (148) (131) (24) Foreign currency translation (17) (1) (1) Other expense, net (3) (23) (26) Loss before income taxes (312) (150) (28) (Provision for) benefit from income taxes (252) 22 (1) Net loss $ (564) $ (128) $ (29)

Prepaid Expenses, Other Current

Prepaid Expenses, Other Current Assets and Other Assets	12 Months Ended
	Dec. 31, 2024
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Prepaid Expenses, Other Current Assets and Other Assets	Prepaid Expenses, Other Current Assets and Other Assets The components of Prepaid expenses and other current assets were as follows at December 31: Millions of dollars 2024 2023 Assets held for sale $ — $ 444 Income tax receivable 79 268 VAT receivables 179 214 Financial derivatives 210 184 Renewable identification numbers 127 113 Advances to suppliers 83 90 Prepaid insurance 36 36 Other 214 126 Total prepaid expenses and other current assets $ 928 $ 1,475 The components of Other assets were as follows at December 31: Millions of dollars 2024 2023 Deferred tax assets $ 259 $ 196 Company-owned life insurance 46 48 Financial derivatives 75 45 Pension assets 56 39 Other 252 249 Total other assets $ 688 $ 577

Accrued and Other Current Liabi

Accrued and Other Current Liabilities	12 Months Ended
	Dec. 31, 2024
Payables and Accruals [Abstract]
Accrued and Other Current Liabilities	Accrued and Other Current Liabilities Accrued and other current liabilities consisted of the following components at December 31: Millions of dollars 2024 2023 Payroll and benefits $ 517 $ 497 Operating lease liabilities 355 360 Renewable identification numbers 132 220 Financial derivatives 71 242 Taxes other than income taxes 199 183 Contract liabilities 110 175 Income taxes 311 143 Product sales rebates 132 140 Interest 127 123 Liabilities held for sale — 120 Asset Retirement Obligations 113 1 Other 289 232 Total accrued and other current liabilities $ 2,356 $ 2,436

Debt

Debt	12 Months Ended
	Dec. 31, 2024
Debt Disclosure [Abstract]
Debt	Debt Long-term loans, notes and other debt, net of unamortized discount, debt issuance cost and cumulative fair value hedging adjustments, consisted of the following at December 31: Millions of dollars 2024 2023 Senior Notes due 2024, $1,000 million, 5.75% $ — $ 775 Senior Notes due 2055, $1,000 million, 4.625% ($15 million of discount; $10 million of debt issuance cost) 975 975 Guaranteed Notes due 2027, $300 million, 8.1% 300 300 Issued by LYB International Finance B.V.: Guaranteed Notes due 2043, $750 million, 5.25% ($18 million of discount; $6 million of debt issuance cost) 726 726 Guaranteed Notes due 2044, $1,000 million, 4.875% ($9 million of discount; $8 million of debt issuance cost) 983 982 Issued by LYB International Finance II B.V.: Guaranteed Notes due 2026, €500 million, 0.875% ($1 million of debt issuance cost) 515 542 Guaranteed Notes due 2027, $1,000 million, 3.5% ($2 million of discount; $1 million of debt issuance cost) 584 585 Guaranteed Notes due 2031, €500 million, 1.625% ($3 million of discount; $2 million of debt issuance cost) 514 542 Issued by LYB International Finance III, LLC: Guaranteed Notes due 2025, $500 million, 1.25% ($1 million of debt issuance cost) 487 481 Guaranteed Notes due 2030, $500 million, 3.375% ($1 million of debt issuance cost) 123 124 Guaranteed Notes due 2030, $500 million, 2.25% ($2 million of discount; $3 million of debt issuance cost) 473 474 Guaranteed Notes due 2033, $500 million, 5.625% ($5 million of debt issuance cost) 495 495 Guaranteed Notes due 2034, $750 million, 5.5% ($5 million of discount, $7 million of debt issuance cost) 738 — Guaranteed Notes due 2040, $750 million, 3.375% ($1 million of discount; $7 million of debt issuance cost) 742 742 Guaranteed Notes due 2049, $1,000 million, 4.2% ($14 million of discount; $10 million of debt issuance cost) 976 976 Guaranteed Notes due 2050, $1,000 million, 4.2% ($6 million of discount; $10 million of debt issuance cost) 982 975 Guaranteed Notes due 2051, $1,000 million, 3.625% ($2 million of discount; $10 million of debt issuance cost) 918 916 Guaranteed Notes due 2060, $500 million, 3.8% ($4 million of discount; $5 million of debt issuance cost) 482 483 Other 17 22 Total 11,030 11,115 Less current maturities (498 ) (782 ) Long-term debt $ 10,532 $ 10,333 Fair value hedging adjustments associated with the fair value hedge accounting of our fixed-for-floating interest rate swaps for the applicable periods are as follows: Millions of dollars Gains (Losses) Cumulative Fair Value Hedging Adjustments Included in Carrying Amount of Debt Year Ended December 31, December 31, 2024 2023 2024 2023 Guaranteed Notes due 2025, 1.25% $ (5) $ (5) $ 4 $ 9 Guaranteed Notes due 2026, 0.875% (4) (5) 4 8 Guaranteed Notes due 2027, 3.5% 3 2 5 2 Guaranteed Notes due 2030, 3.375% 1 (4) 18 17 Guaranteed Notes due 2030, 2.25% 1 (4) 21 20 Guaranteed Notes due 2031, 1.625% (2) (8) 1 3 Guaranteed Notes due 2050, 4.2% (7) (4) 2 9 Guaranteed Notes due 2051, 3.625% (2) (18) 70 72 Guaranteed Notes due 2060, 3.8% 2 (2) 9 7 Total $ (13) $ (48) $ 134 $ 147 Fair value adjustments are recognized in Interest expense in the Consolidated Statements of Income. Aggregate maturities of debt during the next five years are $617 million in 2025, which includes $492 million that remains outstanding under our 1.25% Guaranteed Notes due 2025, $522 million in 2026, $893 million in 2027, $1 million in 2028, $1 million in 2029 and $9,420 million thereafter. We may repay maturing debt using cash and cash equivalents, cash from operating activities, proceeds from the issuance of debt or other sources of cash. Long-Term Debt Senior Revolving Credit Facility— In July 2024, we amended our credit agreement to increase our senior unsecured revolving credit facility (the “Senior Revolving Credit Facility”) from $3,250 million to $3,750 million and extend the maturity to July 2029. Our Senior Revolving Credit Facility may be used for dollar and euro denominated borrowings. The facility has a $200 million sub-limit for dollar and euro denominated letters of credit, a $1,000 million uncommitted accordion feature, and supports our commercial paper program. Borrowings under the facility bear interest at either a base rate, SOFR or EURIBOR rate, plus an applicable margin. Additional fees are incurred for the average daily unused commitments. At December 31, 2024, we had no borrowings or letters of credit outstanding and $3,750 million of unused availability under this facility. The facility contains customary covenants and warranties, including specified restrictions on indebtedness and liens. Additionally, we are required to maintain a maximum leverage ratio (calculated as the ratio of total net funded debt to consolidated earnings before interest, taxes and depreciation and amortization, both as defined in the Amended and Restated Credit Agreement) financial covenant 3.50 to 1.00. In the event an acquisition meeting certain thresholds is consummated we can elect to increase the maximum leverage ratio for each of the first six fiscal quarters ending after such acquisition as indicated in the Amended and Restated Credit Agreement. Covenants and Provisions— Our $300 million 8.1% guaranteed notes due 2027, which are guaranteed by LyondellBasell Industries Holdings B.V., a wholly owned subsidiary of LyondellBasell Industries N.V., contain certain restrictions with respect to the level of maximum debt that can be incurred and security that can be granted by certain operating companies that are direct or indirect wholly owned subsidiaries of LyondellBasell Industries Holdings B.V. These notes contain customary provisions for default, including, among others, the non-payment of principal and interest, certain failures to perform or observe obligations under the Agreement on the notes, the occurrence of certain defaults under other indebtedness, failure to pay certain indebtedness and the insolvency or bankruptcy of certain LyondellBasell Industries N.V. subsidiaries. The indentures governing all other notes contain limited covenants, including those restricting our ability and the ability of our subsidiaries to incur indebtedness secured by significant property or by capital stock of subsidiaries that own significant property, enter into certain sale and lease-back transactions with respect to any significant property or enter into consolidations, mergers or sales of all or substantially all of our assets. We may redeem some of our notes at any time in whole, or from time to time in part, prior to their scheduled maturity dates, at a redemption price equal to the greater of (i) 100% of the principal amount of the notes redeemed and (ii) the sum of the present values of the remaining scheduled payments of principal and interest (discounted at the applicable treasury yield or comparable government bond rate plus their respective basis points) on the notes to be redeemed. Some of our notes may also be redeemed prior to their respective maturity dates, at a redemption price equal to 100% of the principal amount of the notes redeemed plus accrued and unpaid interest. Certain notes are also redeemable upon certain tax events. As of December 31, 2024, we are in compliance with our debt covenants. Guaranteed Notes due 2034 —In February 2024, LYB International Finance III, LLC (“LYB Finance III”), a wholly owned finance subsidiary of LyondellBasell Industries N.V., issued $750 million of 5.5% guaranteed notes due 2034 (the “2034 Notes”) at a discounted price of 99.2%. Net proceeds after deducting original issuance discounts, underwriting fees and offering expenses totaled $737 million. We used the net proceeds to repay our 5.75% senior notes due 2024. Senior Notes due 2024— In March 2024, we repaid the $775 million remaining outstanding principal of our 5.75% senior notes due 2024. Guaranteed Notes due 2033— In May 2023, LYB International Finance III, LLC (“LYB Finance III”), a wholly owned finance subsidiary of LyondellBasell Industries N.V., issued $500 million of 5.625% guaranteed notes due 2033 (the “2033 Notes”) at a discounted price of 99.895%. Net proceeds from the sale of the notes totaled $495 million, after deducting underwriting discounts and offering expenses. The 2033 Notes are the first green financing instruments we have issued related to our green financing framework. Net proceeds from the sale of the 2033 Notes are being used to finance or refinance, in whole or in part, new or existing eligible green projects in the areas of circular economy, renewable energy, pollution prevention and control, and energy efficiency as discussed further below. Guaranteed Notes due 2023 —In July 2023, we repaid the $425 million remaining of outstanding principal on our 4.0% guaranteed notes due 2023. Green Financing Framework— As of December 31, 2024, we have fully allocated the proceeds towards qualifying projects. This includes approximately $300 million and $155 million related to new eligible green projects in 2024 and 2023, respectively. Short-Term Debt U.S. Receivables Facility— Our U.S. Receivables Facility has a purchase limit of $900 million in addition to a $300 million uncommitted accordion feature. In May 2024, we extended the term of the facility to June 2025. This facility provides liquidity through the sale or contribution of trade receivables by certain of our U.S. subsidiaries to a wholly owned, bankruptcy-remote subsidiary on an ongoing basis and without recourse. The bankruptcy-remote subsidiary may then, at its option and subject to a borrowing base of eligible receivables, sell undivided interests in the pool of trade receivables to financial institutions participating in the facility (“Purchasers”). The sale of the undivided interest in the pool of trade receivables is accounted for as a secured borrowing in the Consolidated Balance Sheets. We are responsible for servicing the receivables. We pay variable interest rates on our secured borrowings. Additional fees are incurred for the average daily unused commitments. In the event of liquidation, the bankruptcy-remote subsidiary’s assets will be used to satisfy the claims of the Purchasers prior to any assets or value in the bankruptcy-remote subsidiary becoming available to us. This facility also provides for the issuance of letters of credit up to $200 million. Performance obligations under the facility are guaranteed by LyondellBasell Industries N.V. The term of the facility may be extended in accordance with the terms of the agreement. The facility is also subject to customary warranties and covenants, including limits and reserves and the maintenance of specified financial ratios. Under the terms of the U.S. Receivable Facility, we are required to maintain a maximum leverage ratio consistent with the terms of the Senior Revolving Credit Facility as discussed above. At December 31, 2024, there were no borrowings or letters of credit outstanding and $900 million unused availability under the facility. Commercial Paper Program —We have a commercial paper program under which we may issue up to $2,500 million of privately placed, unsecured, short-term promissory notes (“commercial paper”). This program is backed by our $3,750 million Senior Revolving Credit Facility. Proceeds from the issuance of commercial paper may be used for general corporate purposes, including dividends and share repurchases. At December 31, 2024, we had no outstanding borrowings of commercial paper. Precious Metal Financings —We enter into lease agreements for precious metals which are used in our production processes. Precious metal borrowings are classified as Short-term debt or Long-term debt, other, based on the maturities of the lease agreements. At December 31, 2024 and 2023, we had $119 million and $117 million, respectively, of Short-term debt related to our precious metal financings. Weighted Average Interest Rate —At December 31, 2024 and 2023, our weighted average interest rate on outstanding Short-term debt was 1.1% and 1.9%, respectively. Additional Information Debt Discount and Issuance Costs— Amortization of debt discount and debt issuance costs resulted in amortization expense of $11 million, $9 million and $14 million for the years ended December 31, 2024, 2023 and 2022, respectively, which is included in Interest expense in the Consolidated Statements of Income. Other Information —LYB International Finance B.V., LYB International Finance II B.V., and LYB International Finance III, LLC (“LYB Finance subsidiaries”) are wholly owned finance subsidiaries of LyondellBasell Industries N.V. Any debt securities issued by LYB Finance subsidiaries will be fully and unconditionally guaranteed by LyondellBasell Industries N.V., and no other subsidiaries of LyondellBasell Industries N.V. guarantees these securities. Our unsecured notes rank equally in right of payment to each respective finance subsidiary’s existing and future unsecured indebtedness and to all of LyondellBasell Industries N.V.’s existing and future unsubordinated indebtedness. There are no significant restrictions that would impede LyondellBasell Industries N.V., as guarantor, from obtaining funds by dividend or loan from its subsidiaries.

Leases

Leases	12 Months Ended
	Dec. 31, 2024
Leases [Abstract]
Leases	Leases Operating Leases— The majority of our leases are operating leases. We lease storage tanks, terminal facilities, land, office facilities, railcars, pipelines, barges, plant equipment and other equipment. As of December 31, 2024 and 2023, our Operating lease assets were $1,467 million and $1,529 million, respectively. As of December 31, 2024 and 2023, Operating lease liabilities totaled $1,774 million and $1,769 million of which $355 million and $360 million, respectively, are current and recorded in Accrued and other current liabilities Substantially all of our operating leases have remaining lease terms of 19 years or less and have a weighted-average remaining lease term of 9 years. Certain lease agreements include options to renew the lease, at our discretion, for approximately 1 year to 20 years and do not materially impact our operating lease assets or operating lease liabilities. Maturities of operating lease liabilities as of December 31, 2024, are as follows: Millions of dollars 2025 $ 410 2026 337 2027 286 2028 199 2029 117 Thereafter 818 Total lease payments 2,167 Less: Imputed interest (393) Present value of lease liabilities $ 1,774 Operating lease costs were $519 million, $570 million and $536 million for the years ended December 31, 2024, 2023 and 2022, respectively, which are reflected in the Consolidated Statements of Income. In connection with the planned exit from the refinery business, we recognized accelerated lease amortization costs of $38 million, $110 million and $91 million for the years ended December 31, 2024, 2023 and 2022, respectively, which is included in operating lease cost. See Note 20 to the Consolidated Financial Statements for additional information. Cash paid for amounts included in the measurement of Operating lease liabilities totaled $454 million, $447 million and $423 million for the years ended December 31, 2024, 2023 and 2022, respectively. Leased assets obtained in exchange for new operating lease liabilities totaled $383 million, $312 million and $248 million for the years ended December 31, 2024, 2023 and 2022, respectively. As of December 31, 2024, we have entered into operating leases, with an undiscounted value of $193 million, that have not yet commenced. These leases which will commence in 2025 and 2026, have lease terms ranging from 2 to 20 years.

Financial Instruments and Fair

Financial Instruments and Fair Value Measurements	12 Months Ended
	Dec. 31, 2024
Financial Instruments and Fair Value Measurements [Abstract]
Financial Instruments and Fair Value Measurements	Financial Instruments and Fair Value Measurements We are exposed to market risks, such as changes in commodity pricing, interest rates and currency exchange rates. To manage the volatility related to these exposures, we selectively enter into derivative contracts pursuant to our risk management policies. Financial Instruments Measured at Fair Value on a Recurring Basis —The following table summarizes financial instruments outstanding for the periods presented that are measured at fair value on a recurring basis: Fair Value Millions of dollars December 31, 2024 December 31, 2023 Balance Sheet Classification Assets— Derivatives designated as hedges: Commodities $ 14 $ 1 Prepaid expenses and other current assets Commodities 7 — Other assets Foreign currency 146 44 Prepaid expenses and other current assets Foreign currency 66 45 Other assets Interest rates 16 38 Prepaid expenses and other current assets Derivatives not designated as hedges: Commodities 18 98 Prepaid expenses and other current assets Commodities 2 — Other assets Foreign currency 16 3 Prepaid expenses and other current assets Total $ 285 $ 229 Liabilities— Derivatives designated as hedges: Commodities $ 14 $ 109 Accrued and other current liabilities Commodities 5 33 Other liabilities Foreign currency 9 40 Accrued and other current liabilities Foreign currency — 32 Other liabilities Interest rates 36 31 Accrued and other current liabilities Interest rates 146 172 Other liabilities Derivatives not designated as hedges: Commodities 11 52 Accrued and other current liabilities Foreign currency 1 10 Accrued and other current liabilities Total $ 222 $ 479 The financial instruments in the table above are classified as Level 2. We present the gross assets and liabilities of our derivative instruments on the Consolidated Balance Sheets. Financial Instruments Not Measured at Fair Value on a Recurring Basis —The following table presents the carrying value and estimated fair value of our Short-term precious metal financings and Long-term debt: December 31, 2024 December 31, 2023 Carrying Fair Carrying Fair Millions of dollars Precious metal financings $ 119 $ 122 $ 117 $ 114 Long-term debt 10,521 9,048 10,316 9,225 Total $ 10,640 $ 9,170 $ 10,433 $ 9,339 The financial instruments in the table above are classified as Level 2. Our other financial instruments classified within Current assets and Current liabilities have a short maturity and their carrying value generally approximates fair value. Derivative Instruments: Commodity Prices —We are exposed to commodity price volatility related to purchases of various feedstocks and sales of our products. We use over-the-counter commodity swaps, options and exchange traded futures contracts to manage these risks, including through cash flow hedging relationships. The following table presents the notional amounts of our outstanding commodity derivative instruments: Notional Amount Millions of units December 31, 2024 December 31, 2023 Unit of Measure Maturity Date Derivatives designated as hedges: Natural gas 62 72 MMBtu 2025 to 2027 Ethane 14 18 Bbl 2025 to 2026 Power — 1 MWhs 2025 to 2027 Refined products — 1 Bbl 2025 Derivatives not designated as hedges: Crude oil — 12 Bbl 2025 Refined products 6 16 Bbl 2025 to 2026 Precious metals — 1 Troy Ounces 2025 Renewable Identification Numbers — 59 RINs N/A Interest Rates —We are exposed to interest rate risk with respect to our fixed-rate and variable-rate debt. Fluctuations in interest rates impact the fair value of fixed-rate debt and expose us to the risk that we may need to refinance debt at higher rates. Fluctuations in interest rates also impact interest expense from our variable-rate debt. We use forward-starting interest rate swaps that are designated as cash flow hedges to mitigate the risk that benchmark rates will increase in connection with future financing activities. We also use interest rate swaps that are designated as fair value hedges to mitigate the changes in the fair value of our fixed-rate debt by effectively converting it to variable-rate debt. See Note 11 to the Consolidated Financial Statements for additional information. The following table presents the notional amounts of our outstanding interest rate derivative instruments: Notional Amount Millions of dollars December 31, 2024 December 31, 2023 Maturity Date Cash flow hedges $ — $ 200 N/A Fair value hedges 2,158 2,171 2025 to 2031 Foreign Currency Rates —We have significant worldwide operations. The functional currencies of our operating subsidiaries are primarily the U.S. dollar and the euro. We enter into transactions denominated in currencies other than our designated functional currencies that create foreign currency exposure. We enter into foreign currency contracts to economically hedge foreign currency risk related to recognized foreign currency monetary assets and liabilities. Changes in the fair value of such forward and swap contracts are reported in the Consolidated Statements of Income and offset, in part, currency remeasurement results. In the past, we have entered euro-denominated debt that was designated as a net investment hedge. Other income (expense), net, in the Consolidated Statements of Income reflected foreign currency gains of $15 million and losses of $34 million and $14 million in 2024, 2023 and 2022, respectively. We enter into foreign currency contracts that are designated as net investment hedges to manage the impacts of foreign currency translation of our net investments in foreign operations. We also enter into foreign currency contracts that are designated as cash flow hedges to manage the variability in cash flows associated with intercompany debt balances. The following table presents the notional amounts of our outstanding foreign currency derivative instruments: Notional Amount Millions of dollars December 31, 2024 December 31, 2023 Maturity Date Net investment hedges $ 3,256 $ 3,289 2025 to 2030 Cash flow hedges 300 1,150 2027 Not designated 772 555 2025 Impact on Earnings and Other Comprehensive Income (loss)— The following tables summarize the pre-tax effect of derivative and non-derivative instruments recorded in Accumulated other comprehensive loss (“AOCI”), the gains (losses) reclassified from AOCI to earnings and additional gains (losses) recognized directly in earnings: Effect of Derivative Instruments Year Ended December 31, 2024 Balance Sheet Income Statement Millions of dollars Gain (Loss) Gain (Loss) Additional Income Statement Derivatives designated as hedges: Commodities $ (2) $ 4 $ — Sales and other operating revenues Commodities 11 129 — Cost of sales Foreign currency 206 (35) 59 Interest expense Interest rates 11 4 (64) Interest expense Derivatives not designated as hedges: Commodities — — (21) Sales and other operating revenues Commodities — — 53 Cost of sales Foreign currency — — 43 Other income (expense), net Total $ 226 $ 102 $ 70 Year Ended December 31, 2023 Balance Sheet Income Statement Millions of dollars Gain (Loss) Gain (Loss) Additional Income Statement Derivatives designated as hedges: Commodities $ (2) $ — $ — Sales and other operating revenues Commodities (157) 33 — Cost of sales Foreign currency (142) 31 70 Interest expense Interest rates 17 5 (20) Interest expense Derivatives not designated as hedges: Commodities — — 188 Sales and other operating revenues Commodities — — (130) Cost of sales Foreign currency — — (29) Other income (expense), net Total $ (284) $ 69 $ 79 Year Ended December 31, 2022 Balance Sheet Income Statement Millions of dollars Gain (Loss) Gain (Loss) Additional Income Statement Derivatives designated as hedges: Commodities $ 21 $ (59) $ — Cost of sales Foreign currency 308 (75) 69 Interest expense Interest rates 296 6 (227) Interest expense Derivatives not designated as hedges: Commodities — — 72 Sales and other operating revenues Commodities — — (22) Cost of sales Foreign currency — — (60) Other income (expense), net Total $ 625 $ (128) $ (168) Amounts excluded from the assessment of effectiveness for foreign currency contracts designated as net investment hedges recognized in other comprehensive income (loss) or Interest expense for the years ended December 31, 2024, 2023 and 2022 were immaterial. As of December 31, 2024, on a pre-tax basis, $4 million is scheduled to be reclassified from Accumulated other comprehensive loss as an increase to interest expense over the next twelve months. Other Financial Instruments: Cash and Cash Equivalents —At December 31, 2024 and 2023, we had marketable securities classified as Cash and cash equivalents of $2,610 million and $2,432 million, respectively.

Pension and Other Post-retireme

Pension and Other Post-retirement Benefits	12 Months Ended
	Dec. 31, 2024
Retirement Benefits [Abstract]
Pension and Other Post-retirement Benefits	Pension and Other Post-retirement Benefits We have defined benefit pension plans which cover employees in the U.S. and various other countries. We also sponsor post-retirement benefit plans other than pensions that provide medical benefits to certain of our U.S., Canadian and French employees. In addition, we provide other post-employment benefits such as early retirement and deferred compensation severance benefits to employees of certain non-U.S. countries. We use a measurement date of December 31 for all of our benefit plans. Pension Benefits —The following tables provide a reconciliation of projected benefit obligations, plan assets and the funded status of our U.S. and non-U.S. defined benefit pension plans: Year Ended December 31, 2024 2023 Millions of dollars U.S. Non-U.S. U.S. Non-U.S. Change in benefit obligation: Benefit obligation, beginning of period $ 1,155 $ 1,363 $ 1,140 $ 1,276 Service cost 52 21 51 22 Interest cost 62 52 57 51 Actuarial loss (gain) 60 88 (13) 19 Benefits paid (97) (59) (80) (53) Participant contributions — 2 — 2 Settlement — (3) — (1) Foreign exchange effects — (75) — 47 Benefit obligation, end of period 1,232 1,389 1,155 1,363 Change in plan assets: Fair value of plan assets, beginning of period 960 705 1,021 733 Actual return on plan assets 130 112 10 (53) Company contributions 43 51 9 51 Benefits paid (97) (59) (80) (53) Participant contributions — 2 — 2 Settlement — (3) — (1) Foreign exchange effects — (38) — 26 Fair value of plan assets, end of period 1,036 770 960 705 Funded status of continuing operations, end of period $ (196) $ (619) $ (195) $ (658) Amounts recognized in the Consolidated Balance Sheets consists of the following: December 31, 2024 December 31, 2023 Millions of dollars U.S. Non-U.S. U.S. Non-U.S. Prepaid benefit cost, long-term $ — $ 56 $ — $ 39 Accrued benefit liability, current — (30) — (30) Accrued benefit liability, long-term (196) (645) (195) (667) Funded status of continuing operations, end of period $ (196) $ (619) $ (195) $ (658) Amounts recognized in Accumulated other comprehensive loss include the following: December 31, 2024 December 31, 2023 Millions of dollars U.S. Non-U.S. U.S. Non-U.S. Actuarial and investment loss $ 276 $ 94 $ 303 $ 140 Prior service cost — 23 — 27 Balance, end of period $ 276 $ 117 $ 303 $ 167 The following additional information is presented for our U.S. and non-U.S. pension plans: December 31, 2024 December 31, 2023 Millions of dollars U.S. Non-U.S. U.S. Non-U.S. Accumulated benefit obligation for defined benefit plans $ 1,204 $ 1,268 $ 1,129 $ 1,252 Pension plans with projected benefit obligations in excess of the fair value of assets are summarized as follows: December 31, 2024 December 31, 2023 Millions of dollars U.S. Non-U.S. U.S. Non-U.S. Projected benefit obligations $ 1,232 $ 793 $ 1,155 $ 839 Fair value of assets 1,036 118 960 142 Pension plans with accumulated benefit obligations in excess of the fair value of assets are summarized as follows: December 31, 2024 December 31, 2023 Millions of dollars U.S. Non-U.S. U.S. Non-U.S. Accumulated benefit obligations $ 1,201 $ 593 $ 1,129 $ 718 Fair value of assets 1,033 8 960 109 Components of net periodic pension costs for our U.S. and non-U.S. plans are as follows: U.S. Plans Year Ended December 31, Millions of dollars 2024 2023 2022 Service cost $ 52 $ 51 $ 48 Interest cost 62 57 48 Expected return on plan assets (65) (69) (97) Settlement loss — — 103 Actuarial loss amortization 20 18 20 Net periodic benefit cost $ 69 $ 57 $ 122 Non-U.S. Plans Year Ended December 31, Millions of dollars 2024 2023 2022 Service cost $ 21 $ 22 $ 35 Interest cost 52 51 26 Expected return on plan assets (28) (28) (18) Prior service cost amortization 3 3 3 Actuarial loss (gain) amortization 5 (1) 7 Net periodic benefit cost $ 53 $ 47 $ 53 In May 2022, a LyondellBasell sponsored pension plan purchased a group annuity contract from an insurance company to transfer $361 million of our outstanding pension benefit obligations related to certain U.S. retirees and beneficiaries. The purchase of the group annuity contract was funded with pension plan assets. The insurance company is now required to pay and administer the retirement benefits owed to approximately 9,000 U.S. retirees and beneficiaries with no change to their monthly retirement benefit payment amounts. In connection with this transaction, in the second quarter of 2022, we recognized a non-cash pension settlement loss of $80 million, reflected in Other income (expense), net, primarily related to the accelerated recognition of actuarial losses included in Accumulated other comprehensive loss. The actual and target asset allocations for our plans are as follows: 2024 2023 Actual Target Actual Target Canada Fixed income 100 % 100 % 100 % 100 % United Kingdom—Lyondell Chemical Plans Equity securities 25 % 25 % 39 % 38 % Fixed income 75 % 75 % 61 % 62 % United Kingdom—Basell Plans Equity securities 25 % 25 % 26 % 25 % Fixed income 75 % 75 % 74 % 75 % United Kingdom—A. Schulman Plans Equity securities and growth assets 26 % 25 % 27 % 25 % Fixed income and matching assets 74 % 75 % 73 % 75 % United States Equity securities 39 % 40 % 40 % 40 % Fixed income 48 % 45 % 41 % 45 % Alternatives 13 % 15 % 19 % 15 % We estimate contributions to our defined benefit plans in 2025 will be $47 million and $55 million for the U.S. and non-U.S. plans, respectively. As of December 31, 2024, future expected benefit payments by our pension plans which reflect expected future service, as appropriate, are as follows: Millions of dollars U.S. Non-U.S. 2025 $ 165 $ 63 2026 97 65 2027 98 65 2028 100 66 2029 100 69 2030 through 2034 506 364 The following tables set forth the principal assumptions on discount rates, projected rates of compensation increase and expected rates of return on plan assets, where applicable. These assumptions vary for the different plans, as they are determined in consideration of local conditions. The weighted average assumptions used in determining the net benefit liabilities for our pension plans were as follows at December 31: 2024 2023 U.S. Non-U.S. U.S. Non-U.S. Discount rate 5.35 % 3.66 % 5.80 % 4.00 % Rate of compensation increase 4.66 % 3.36 % 4.68 % 3.58 % Cash balance interest credit rate 4.36 % — % 4.54 % — % The weighted average assumptions used in determining net benefit costs for our pension plans were as follows: Year Ended December 31, 2024 2023 2022 U.S. Non-U.S. U.S. Non-U.S. U.S. Non-U.S. Discount rate 5.80 % 4.00 % 5.50 % 3.99 % 2.80 % 1.45 % Expected return on plan assets 7.25 % 4.14 % 7.25 % 3.57 % 7.25 % 1.85 % Rate of compensation increase 4.68 % 3.58 % 4.65 % 2.66 % 4.74 % 2.64 % The discount rate assumptions reflect the rates at which the benefit obligations could be effectively settled, based on the yields of high-quality long-term bonds where the term closely matches the term of the benefit obligations. We measure service and interest costs by applying the specific spot rates along that same yield curve to the projected cash flows of the plans. This approach provides a more precise measurement of service and interest costs. The weighted average expected long-term rate of return on assets in our U.S. plans of 7.25% is based on the average level of earnings that our independent pension investment adviser had advised could be expected to be earned over a fifteen Actual rates of return may differ from the expected rate due to the volatility normally experienced in capital markets. Assets are externally managed by professional investment firms over the long term to achieve optimal returns with an acceptable level of risk and volatility in order to meet the benefit obligations of the plans as they come due. Our pension plans have not directly invested in securities of LyondellBasell N.V., and there have been no significant transactions between any of the pension plans and the Company or related parties thereof. The pension investments that are measured at fair value are summarized below: December 31, 2024 Millions of dollars Fair Value Level 1 Level 2 Level 3 U.S. Common and preferred stock $ 64 $ 64 $ — $ — Commingled funds measured at net asset value 459 Fixed income securities 97 — 97 — Real estate measured at net asset value 63 Hedge funds measured at net asset value 20 Private equity measured at net asset value 46 U.S. government securities 253 253 — — Cash and cash equivalents 26 26 — — Total U.S. Pension Assets $ 1,028 $ 343 $ 97 $ — December 31, 2024 Millions of dollars Fair Value Level 1 Level 2 Level 3 Non-U.S. Insurance arrangements $ 531 $ — $ — $ 531 Commingled funds measured at net asset value 237 Cash and cash equivalents 1 1 — — Total Non-U.S. Pension Assets $ 769 $ 1 $ — $ 531 December 31, 2023 Millions of dollars Fair Value Level 1 Level 2 Level 3 U.S. Common and preferred stock $ 155 $ 155 $ — $ — Commingled funds measured at net asset value 342 Fixed income securities 53 — 53 — Real estate measured at net asset value 80 Hedge funds measured at net asset value 42 Private equity measured at net asset value 65 U.S. government securities 206 206 — — Cash and cash equivalents 40 40 — — Total U.S. Pension Assets $ 983 $ 401 $ 53 $ — December 31, 2023 Millions of dollars Fair Value Level 1 Level 2 Level 3 Non-U.S. Insurance arrangements $ 474 $ — $ — $ 474 Commingled funds measured at net asset value 228 Cash and cash equivalents 1 1 — — Total Non-U.S. Pension Assets $ 703 $ 1 $ — $ 474 Certain non-U.S. plans have investments in a pooled asset portfolio which are treated as a nonparticipating insurance contract. The associated plan assets underlying the insurance arrangement are measured at the cash surrender value, which is derived primarily from an actuarial determination of the discounted benefits cash flows. As such, these assets are considered as using significant unobservable inputs (Level 3). These defined benefits pension plan assets at December 31, 2023 were valued at $474 million and has increased to $531 million at December 31, 2024. The change is due primarily to the increase of assets in relation with the decrease of the discount rate from 2023 to 2024. The fair value measurements of the investments in certain entities that calculate net asset value per share as of December 31, 2024 are as follows: Millions of dollars Fair Unfunded Remaining Redemption Frequency Trade to Redemption U.S. Commingled fund investing in Domestic Equity $ 187 $ — N/A daily 1 to 3 days 3 to 4 days Commingled fund investing in International Equity 155 — N/A daily 1 to 3 days 3 days Commingled fund investing in Fixed Income 117 — N/A daily 1 to 3 days 3 to 7 days Real Estate 63 10 10 years quarterly 15 to 25 days 45 to 90 days Hedge Funds 20 — N/A quarterly 10 to 30 days 20 to 90 days Private Equity 46 13 10 years Not eligible N/A N/A Total U.S. $ 588 $ 23 Millions of dollars Fair Unfunded Remaining Redemption Frequency Trade to Redemption Non-U.S. Commingled fund investing in Domestic Equity $ 21 $ — N/A 1 to 7 days 1 to 3 days 1 to 3 days Commingled fund investing in International Equity 23 — N/A 1 to 7 days 1 to 3 days 1 to 3 days Commingled fund investing in Fixed Income 193 — N/A daily 1 to 3 days 3 days Total Non-U.S. $ 237 $ — The fair value measurements of the investments in certain entities that calculate net asset value per share as of December 31, 2023 are as follows: Millions of dollars Fair Unfunded Remaining Redemption Frequency Trade to Redemption U.S. Commingled fund investing in Domestic Equity $ 168 $ — N/A daily 1 to 3 days 3 to 4 days Commingled fund investing in International Equity 68 — N/A daily 1 to 3 days 3 days Commingled fund investing in Fixed Income 106 — N/A daily 1 to 3 days 3 to 7 days Real Estate 80 11 10 years quarterly 15 to 25 days 45 to 90 days Hedge Funds 42 — N/A quarterly 10 to 30 days 20 to 90 days Private Equity 65 14 10 years Not eligible N/A N/A Total U.S. $ 529 $ 25 Millions of dollars Fair Unfunded Remaining Redemption Frequency Trade to Redemption Non-U.S. Commingled fund investing in Domestic Equity $ 23 $ — N/A 1 to 7 days 1 to 3 days 1 to 3 days Commingled fund investing in International Equity 24 — N/A 1 to 7 days 1 to 3 days 1 to 3 days Commingled fund investing in Fixed Income 181 — N/A daily 1 to 3 days 3 days Total Non-U.S. $ 228 $ — Other Post-retirement Benefits —We sponsor unfunded health care and life insurance plans covering certain eligible retired employees and their eligible dependents. Generally, the medical plans pay a stated percentage of medical expenses reduced by deductibles and other coverage. Life insurance benefits are generally provided by insurance contracts. We retain the right, subject to existing agreements, to modify or eliminate these benefits. The following tables provide a reconciliation of benefit obligations of our unfunded other post-retirement benefit plans: Year Ended December 31, 2024 2023 Millions of dollars U.S. Non-U.S. U.S. Non-U.S. Change in benefit obligation: Benefit obligation, beginning of period $ 142 $ 39 $ 153 $ 41 Service cost — 1 1 1 Interest cost 8 2 7 2 Actuarial loss (gain) 8 15 — (4) Benefits paid (24) (1) (25) (1) Participant contributions 5 — 6 — Foreign exchange effects — (4) — — Benefit obligation, end of period 139 52 142 39 Change in plan assets: Fair value of plan assets, beginning of period — — — — Employer contributions 19 1 19 1 Participant contributions 5 — 6 — Benefits paid (24) (1) (25) (1) Fair value of plan assets, end of period — — — — Funded status, end of period $ (139) $ (52) $ (142) $ (39) Amounts recognized in the Consolidated Balance Sheets are as follows: December 31, 2024 December 31, 2023 Millions of dollars U.S. Non-U.S. U.S. Non-U.S. Accrued benefit liability, current $ (13) $ (1) $ (14) $ (1) Accrued benefit liability, long-term (126) (51) (128) (38) Funded status, end of period $ (139) $ (52) $ (142) $ (39) Amounts recognized in Accumulated other comprehensive loss are as follows: December 31, 2024 December 31, 2023 Millions of dollars U.S. Non-U.S. U.S. Non-U.S. Actuarial and investment income $ 61 $ 8 $ 79 $ 21 Prior service cost — (1) — (1) Balance, end of period $ 61 $ 7 $ 79 $ 20 The components of net periodic other post-retirement costs are as follows: U.S. Plans Year Ended December 31, Millions of dollars 2024 2023 2022 Service cost $ — $ 1 $ 1 Interest cost 8 7 5 Actuarial gain amortization (9) (10) (5) Net periodic benefit (income) cost $ (1) $ (2) $ 1 Non-U.S. Plans Year Ended December 31, Millions of dollars 2024 2023 2022 Service cost $ 1 $ 1 $ 2 Interest cost 2 2 1 Actuarial gain amortization (1) (1) — Net periodic benefit cost $ 2 $ 2 $ 3 The following tables set forth the assumed health care cost trend rates for our U.S. and Non-U.S. Plans: U.S. Plans December 31, 2024 2023 Immediate trend rate 6.5 % 6.3 % Ultimate trend rate (the rate to which the cost trend rate is assumed to decline) 4.5 % 4.5 % Year that the rate reaches the ultimate trend rate 2033 2031 Non-U.S. Plans Canada France December 31, December 31, 2024 2023 2024 2023 Immediate trend rate 4.5 % 4.5 % 5.0 % 4.8 % Ultimate trend rate (the rate to which the cost trend rate is assumed to decline) 4.5 % 4.5 % 5.0 % 4.8 % Year that the rate reaches the ultimate trend rate — — — — The health care cost trend rate assumption does not typically have a significant effect on the amounts reported due to limits on maximum contribution levels to the medical plans. The weighted average assumptions used in determining the net benefit liabilities for our other post-retirement benefit plans were as follows: December 31, 2024 2023 U.S. Non-U.S. U.S. Non-U.S. Discount rate 5.24 % 3.53 % 5.74 % 4.36 % Rate of compensation increase 4.09 % — 4.13 % — The weighted average assumptions used in determining the net benefit costs for our other post-retirement benefit plans were as follows: Year Ended December 31, 2024 2023 2022 U.S. Non-U.S. U.S. Non-U.S. U.S. Non-U.S. Discount rate 5.74 % 4.36 % 5.44 % 3.95 % 2.75 % 1.47 % Rate of compensation increase 4.13 % — 4.16 % — 4.18 % — As of December 31, 2024, future expected benefit payments by our other post-retirement benefit plans, which reflect expected future service, as appropriate, were as follows: Millions of dollars U.S. Non-U.S. 2025 $ 13 $ 1 2026 14 1 2027 13 1 2028 13 1 2029 13 2 2030 through 2034 56 9 Accumulated Other Comprehensive Loss —In 2024, pension benefits actuarial gain and other post-retirement benefits actuarial loss of $1 million and $22 million, respectively, are primarily due to changes in discount rate assumption and updated actuarial assumptions. In 2023, pension benefits actuarial loss and other post-retirement benefits actuarial gain of $146 million and $4 million, respectively, are primarily due to changes in discount rate assumption and updated actuarial assumptions. Deferred income taxes related to amounts in Accumulated other comprehensive loss include provisions of $91 million and $90 million as of December 31, 2024 and 2023, respectively. Defined Contribution Plans —Most employees in the U.S. and certain non-U.S. countries are eligible to participate in defined contribution plans (“Employee Savings Plan”) by contributing a portion of their compensation. We make employer contributions, such as matching contributions, to certain of these plans. The Company also has a nonqualified deferred compensation plan that covers senior management in the U.S. This plan was amended and restated in May 2023 and provides Company contributions on behalf of certain eligible employees who earn base pay above the IRS annual compensation limit. The following table provides the Company contributions to the Employee Savings Plans: Company Contributions 2024 2023 2022 Millions of dollars U.S. Non-U.S. U.S. Non-U.S. U.S. Non-U.S. Employee Savings Plans $ 60 $ 11 $ 57 $ 9 $ 53 $ 8

Incentive and Share-Based Compe

Incentive and Share-Based Compensation	12 Months Ended
	Dec. 31, 2024
Share-Based Payment Arrangement [Abstract]
Incentive and Share-Based Compensation	Incentive and Share-Based Compensation We are authorized to grant RSUs, PSUs, stock options, and other cash and stock awards under our Long-Term Incentive Plan (“LTIP”). The Compensation and Talent Development Committee oversees our equity award grants, the type of awards, the required performance measures and the timing and duration of each grant. The maximum number of shares of our common stock reserved for issuance under the LTIP is 30,000,000 shares. After taking into consideration outstanding stock-settled awards and assuming a maximum payout for our PSU awards, there were 6,245,410 shares available for issuance as of December 31, 2024. Total share-based compensation expense and the associated tax benefits are as follows: Year Ended December 31, Millions of dollars 2024 2023 2022 Compensation Expense: Restricted stock units $ 60 $ 44 $ 33 Stock options 4 10 8 Performance share units 27 37 29 Total $ 91 $ 91 $ 70 Tax Benefit: Restricted stock units $ 14 $ 10 $ 8 Stock options 1 2 2 Performance share units 6 9 7 Total $ 21 $ 21 $ 17 Restricted Stock Unit Awards —RSUs entitle the recipient to be paid out an equal number of ordinary shares upon vesting. Effective in 2024, RSU’s will generally have a three-year vesting period and ratably vest in equal increments on the first, second and third anniversary of the grant date. Historically RSUs generally cliff vested on the third anniversary of the grant date. The fair value of RSUs is based on the market price of the underlying stock on the date of grant. The weighted average grant date fair value for RSUs granted during the years ended December 31, 2024, 2023 and 2022 was $95.78, $93.93 and $96.14, respectively. The total fair value of RSUs vested and issued was $45 million, $30 million and $20 million during 2024, 2023 and 2022, respectively. The following table summarizes RSU activity for the year: Number of Weighted Average Outstanding at January 1, 2024 994 $ 96.67 Granted 785 95.78 Vested (481) 98.95 Forfeited (62) 99.32 Outstanding at December 31, 2024 1,236 $ 95.09 As of December 31, 2024, the unrecognized compensation cost related to RSUs was $51 million, which is expected to be recognized over a weighted average period of 1.28 years. Stock Option Awards —Stock options allow employees the opportunity to purchase ordinary shares of stock in the future at an exercise price equal to the market price at the date of grant. No stock option awards were granted in 2024. Previous awards generally have a three-year vesting period that vests in equal increments on the first, second and third anniversary of the grant date and have a contractual term of ten years. None of the Stock options are designed to qualify as Incentive Stock Options as defined in Section 422 of the Internal Revenue Code. The fair value of each Stock option is estimated on the date of grant using the Black-Scholes option valuation model. The principal assumptions utilized in valuing Stock options include the expected stock price volatility (based on our historical stock price volatility over the expected term); the expected dividend yield; and the risk-free interest rate (an estimate based on the yield of a United States Treasury zero coupon bond with a maturity equal to the expected term of the option). The expected term of Stock options granted is estimated based on the weighted average of historical exercise patterns and the midpoint of the remaining expected life. In 2022, our board of directors declared a special dividend of $5.20 per share to all shareholders as of June 6, 2022. Pursuant to the anti-dilutive provisions under the award agreement, the Compensation Committee authorized the reduction of the exercise price for all outstanding stock options in an amount equal to the special dividends per share. The reduction in exercise price of $5.20 per share for all outstanding stock options was intended to provide an equitable and proportionate adjustment to holders of stock options as a result of the Company’s payment of the special dividend. These adjustments did not result in incremental expense. The weighted average fair value of Stock options granted and the assumptions used in estimating those fair values are as follows: Year Ended December 31, 2023 2022 Weighted average fair value $ 24.85 $ 24.27 Fair value assumptions: Dividend yield 5.0 % 4.3 % Expected volatility 39.9-40.2% 39.1-40.7% Risk-free interest rate 3.5-4.7% 1.9-4.2% Weighted average expected term, in years 5.7 5.4 The following table summarizes Stock option activity: Number of Weighted Weighted Aggregate Outstanding at January 1, 2024 2,644 $ 90.01 Granted — — Exercised (631) 84.98 Forfeited (29) 92.78 Expired (41) 99.87 Outstanding at December 31, 2024 1,943 $ 91.40 5.1 years $ — Exercisable at December 31, 2024 1,555 $ 90.73 4.4 years $ — The aggregate intrinsic value of Stock options exercised during the years ended December 31, 2024, 2023 and 2022 was $10 million, $8 million and $6 million, respectively. As of December 31, 2024, the unrecognized compensation cost related to Stock options was $2 million, which is expected to be recognized over a weighted average period of 1.0 year. During 2024, cash received from the exercise of Stock options was $52 million and the tax benefit associated with these exercises was $2 million. Performance Share Units Awards —A target number of PSUs is granted to participants at the beginning of a three-year performance period. Final payout of awards, which can range from 0% to 200% of target shares granted, is determined and paid after the performance period. These awards are settled in shares of common stock, and each unit is equivalent to one share of our common stock. The payout for PSUs granted will be equally based on Total Shareholder Return (“TSR”) relative to our peers and a performance metric. The fair value of the portion of the award that vests based on TSR is estimated using a Monte-Carlo simulation. For the other portion of the award, the fair value is determined at the end of each reporting period based on our stock price and the number of shares expected to vest. The weighted average fair value and the assumptions used in estimating those fair value using a Monte-Carlo simulation are as follows: Year Ended December 31, 2024 2023 2022 Weighted average fair value $ 133.75 $ 128.95 $ 122.15 Fair value assumptions: Expected volatility of LyondellBasell N.V. common stock 28.60 % 38.04% 48.71% Expected volatility of peer companies 24.68-43.42% 22.82-52.73% 23.12-61.28% Average correlation coefficient of peer companies 0.56 0.52 0.59 Risk-free interest rate 4.47 % 4.39% 1.69 % The following table summarizes PSU activity: Number of Weighted Average Outstanding at January 1, 2024 853 $ 116.39 Granted 716 108.56 Vested (538) 117.39 Forfeited (42) 100.95 Outstanding at December 31, 2024 989 $ 101.94 The total fair value of PSUs vested during 2024 was $43 million paid out at 200% of target shares. As of December 31, 2024, the unrecognized compensation cost related to PSUs was $38 million, which is expected to be recognized over a weighted average period of 1.8 years.

Income Taxes

Income Taxes	12 Months Ended
	Dec. 31, 2024
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes LyondellBasell Industries N.V. is tax resident in the United Kingdom pursuant to a mutual agreement procedure determination ruling between the Dutch and United Kingdom competent authorities and therefore subject solely to the United Kingdom corporate income tax system. LyondellBasell Industries N.V. has little or no taxable income of its own because, as a holding company, it does not conduct any operations. Through our subsidiaries, we have substantial operations world-wide. Taxes are paid on the earnings generated in various jurisdictions where our subsidiaries operate. The Company operates in multiple jurisdictions with complex legal and tax regulatory environments and is subject to taxes in the U.S. and non-U.S. jurisdictions. We monitor tax law changes and the potential impact to our results of operations. There continues to be increased attention on the tax practices of multinational companies, in particular in the U.S. and Europe where we operate. In 2020, the Organization for Economic Cooperation and Development released Pillar One and Two proposals focused on taxing rights and minimum taxes. The United Kingdom, as well as certain other jurisdictions in which we operate, enacted legislation implementing the Organization for Economic Cooperation and Development’s Pillar Two Model Rules effective as of January 1, 2024. This legislation did not have a material impact on the Consolidated Financial Statements; however, we continue to assess and monitor legislative changes. The significant components of the provision for income taxes are as follows: Year Ended December 31, Millions of dollars 2024 2023 2022 Current: U.S. federal $ 430 $ 261 $ 250 Non-U.S. 198 160 205 State 49 37 58 Total current 677 458 513 Deferred: U.S. federal (172) 77 369 Non-U.S. (279) (36) (12) State 14 2 12 Total deferred (437) 43 369 Provision for income taxes before tax effects of other comprehensive income 240 501 882 Tax effects of elements of other comprehensive income: Pension and post-retirement liabilities (1) (36) 125 Financial derivatives 38 (29) 57 Foreign currency translation 44 (28) 59 Total income tax expense in comprehensive income $ 321 $ 408 $ 1,123 Since the proportion of U.S. revenues, assets, operating income and associated tax provisions is significantly greater than that of any other single taxing jurisdiction within the worldwide group, the reconciliation of the differences between the provision for income taxes and the statutory rate is presented on the basis of the U.S. statutory federal income tax rate of 21% as opposed to the United Kingdom statutory tax rate of 25%. Our effective income tax rate for the year ended December 31, 2024 is 15.0%. Our effective income tax rate fluctuates based on, among other factors, changes in pre-tax income in countries with varying statutory tax rates, changes in valuation allowances, changes in foreign exchange gains/losses, the amount of exempt income, changes in unrecognized tax benefits associated with uncertain tax positions and changes in tax laws. The following table reconciles the expected tax expense (benefit) at the U.S. statutory federal income tax rate to the total income tax provision as calculated: Year Ended December 31, Millions of dollars 2024 2023 2022 Income (loss) before income taxes: U.S. $ 1,685 $ 1,958 $ 3,289 Non-U.S. (82) 669 1,487 Total $ 1,603 $ 2,627 $ 4,776 Income tax at U.S. statutory rate $ 337 $ 552 $ 1,003 Increase (reduction) resulting from: Non-U.S. income/(loss) taxed at different statutory rates (102) 4 27 Return to accrual adjustments (26) (22) 16 State income taxes, net of federal benefit 57 33 60 Exempt income (101) (203) (213) Uncertain tax positions 18 21 (74) Patent box ruling — (31) — Non-deductible impairment 28 62 14 Audit settlement — 46 — Foreign currency gain or loss (27) 8 (6) Cross border tax effects 19 14 12 Other, net 37 17 43 Income tax provision $ 240 $ 501 $ 882 Our exempt income primarily includes interest income, export incentives, and equity earnings of joint ventures. Interest income earned by certain of our subsidiaries through intercompany financings is taxed at rates substantially lower than the U.S. statutory rate. Export incentives relate to tax benefits derived from elections and structures available for U.S. exports. Equity earnings attributable to the earnings of our joint ventures, when paid through dividends to certain European subsidiaries, are exempt from all or portions of normal statutory income tax rates. We anticipate the continued favorable treatment for dividends, and export income based on current law. We are currently assessing the impact of new tax regulations released by the IRS during January 2025, which take effect in 2026. We will continue to review and monitor any additional guidance issued by the IRS. The deferred tax effects of tax loss, credit and interest carryforwards (“tax attributes”) and the tax effects of temporary differences between the tax basis of assets and liabilities and their reported amounts in the Consolidated Financial Statements, reduced by a valuation allowance where appropriate, are presented below. December 31, Millions of dollars 2024 2023 Deferred tax liabilities: Accelerated tax depreciation $ 2,342 $ 2,562 Investment in joint venture partnerships 455 486 Inventory 194 227 Operating lease assets 330 334 Other liabilities 78 134 Total deferred tax liabilities $ 3,399 $ 3,743 Deferred tax assets: Tax attributes $ 420 $ 307 Employee benefit plans 248 259 Operating lease liabilities 387 383 Other assets 203 182 Total deferred tax assets 1,258 1,131 Deferred tax asset valuation allowances (135) (78) Net deferred tax assets 1,123 1,053 Net deferred tax liabilities $ 2,276 $ 2,690 Balance sheet classification is presented in the following table: December 31, Millions of dollars 2024 2023 Deferred tax assets—long-term $ 259 $ 196 Deferred tax liabilities—long-term 2,535 2,886 Net deferred tax liabilities $ 2,276 $ 2,690 Deferred taxes on the unremitted earnings of certain equity joint ventures and subsidiaries of $57 million and $77 million at December 31, 2024 and 2023, respectively, have been provided. The Company intends to permanently reinvest approximately $600 million of our non-U.S. earnings. Repatriation of these earnings to the U.S. in the future could result in a tax impact of approximately $60 million. At December 31, 2024 and 2023, we had total tax attributes available in the amount of $1,968 million and $1,438 million, respectively, for which a deferred tax asset was recognized at December 31, 2024 and 2023 of $420 million and $307 million, respectively. The scheduled expiration of the tax attributes and the related deferred tax assets, before valuation allowance, as of December 31, 2024 are as follows: Millions of dollars Tax Deferred Tax 2025 $ 22 $ 1 2026 13 1 2027 19 4 2028 20 7 2029 15 3 Thereafter 549 53 Indefinite 1,330 351 Total $ 1,968 $ 420 The tax attributes are primarily related to operations in the United States, Germany, United Kingdom, The Netherlands, and France. The related deferred tax assets by primary jurisdictions are shown below: December 31, Millions of dollars 2024 2023 2022 United States $ 114 $ 151 $ 84 Germany 107 3 7 United Kingdom 105 91 45 The Netherlands 35 18 13 France 21 23 $ 46 Other 38 21 15 Total $ 420 $ 307 $ 210 To fully realize these net deferred tax assets, we will need to generate sufficient future taxable income in the countries where these tax attributes exist during the periods in which the attributes can be utilized. Based upon forecasts of expected taxable income over the periods in which the attributes can be utilized and/or temporary differences are expected to reverse, management believes it is more likely than not that $285 million of these deferred tax assets at December 31, 2024 will be realized. As of each reporting date, we consider the weight of all evidence, both positive and negative, to determine if a valuation allowance is necessary for each jurisdiction’s net deferred tax assets. We place greater weight on historical evidence over future predictions of our ability to utilize net deferred tax assets. We consider future reversals of existing taxable temporary differences, future taxable income exclusive of reversing temporary differences, and taxable income in prior carry-back year(s) if carry-back is permitted under applicable law, as well as available prudent and feasible tax planning strategies that would, if necessary, be implemented to ensure realization of the net deferred tax asset. A summary of the valuation allowances by primary jurisdiction is shown below, reflecting the valuation allowances for all the net deferred tax assets, including deferred tax assets for tax attributes and other temporary differences. December 31, Millions of dollars 2024 2023 2022 Germany $ 43 $ 1 $ — United Kingdom 30 30 29 United States 24 15 11 France 21 23 22 Other 17 9 4 Total $ 135 $ 78 $ 66 During 2024 and 2023, valuation allowance accruals did not have a material impact to our effective tax rate. The increase in valuation allowances from 2023 to 2024 was primarily due to attributes acquired during 2024 that required a full valuation allowance. The following table presents a reconciliation of the beginning and ending amounts of unrecognized tax benefits included on our Consolidated Balance Sheet: Year Ended December 31, Millions of dollars 2024 2023 2022 Unrecognized tax benefit, beginning of period $ 288 $ 271 $ 327 Additions for tax positions of current year 14 37 22 Additions for tax positions of prior years 15 2 13 Reductions for tax positions of prior years (15) (22) (91) Settlements (payments/refunds) (66) — — Unrecognized tax benefit, end of period $ 236 $ 288 $ 271 The majority of the uncertain tax positions, if recognized, will affect the effective tax rate. During 2024 and 2023, our effective tax rate included tax expense of $18 million and $21 million, respectively, related to adjustments in uncertain tax position balances. During 2024, we entered into an audit settlement and released a related $66 million non-cash reserve related to this position. The settlement of this position did not affect the effective tax rate. During 2022, our effective tax rate included a net tax benefit of $74 million related to adjustments in uncertain tax position balances. The 2022 movement included a $91 million non-cash tax benefit to our effective tax rate as a reduction for tax positions of prior years. It is reasonably possible that, within the next twelve months, due to the settlement of uncertain tax positions with various tax authorities and the expiration of statutes of limitations, unrecognized tax benefits could decrease by up to approximately $50 million. We recognize interest associated with unrecognized tax benefits in income tax expense. Income tax expense includes interest and penalties of $15 million, $11 million and $1 million in 2024, 2023 and 2022, respectively. Accrued interest and penalties as of December 31, 2024, 2023 and 2022 were $67 million, $52 million, and $41 million, respectively. We operate in multiple jurisdictions throughout the world, and our tax returns are periodically audited or subjected to review by tax authorities. We are currently under examination in a number of tax jurisdictions. As a result, there is an uncertainty in income taxes recognized in our financial statements. Positions challenged by the tax authorities may be settled or appealed by us. A summary of the years open to examination in our primary jurisdictions is as follows: Jurisdiction Open Tax Years France 2019 and later Germany 2008 and later Italy 2014 and later The Netherlands 2019 and later United Kingdom 2022 and later United States 2014 and later

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
	Dec. 31, 2024
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Commitments —We have various purchase commitments for materials, supplies and services incidental to the ordinary conduct of business, generally for quantities required for our businesses and at prevailing market prices. These commitments are designed to ensure sources of supply and are not expected to be in excess of normal requirements. Additionally, we have capital expenditure commitments, which we incur in our normal course of business. Financial Assurance Instruments —We have obtained letters of credit, performance and surety bonds and have issued financial and performance guarantees to support trade payables, potential liabilities and other obligations. Considering the frequency of claims made against the financial instruments we use to support our obligations, and the magnitude of those financial instruments in light of our current financial position, management does not expect that any claims against or draws on these instruments would have a material adverse effect on our Consolidated Financial Statements. We have not experienced any unmanageable difficulties in obtaining the required financial assurance instruments for our current operations. Environmental Remediation —Accrued liabilities for future environmental remediation costs at current and former plant sites and other remediation sites totaled $140 million and $124 million as of December 31, 2024 and 2023, respectively. At December 31, 2024, the accrued liabilities for individual sites range from less than $1 million to $43 million. The remediation expenditures are expected to occur over a number of years and are not concentrated in any single year. In our opinion, it is reasonably possible that losses in excess of the liabilities recorded may have been incurred. However, we cannot estimate any amount or range of such possible additional losses. New information about sites, new technology or future developments, such as involvement in investigations by regulatory agencies, could require us to reassess our potential exposure related to environmental matters. The following table summarizes the activity in our accrued environmental liability included in Accrued and other current liabilities and Other liabilities: Year Ended December 31, Millions of dollars 2024 2023 Beginning balance $ 124 $ 127 Changes in estimates 29 5 Amounts paid (10) (9) Foreign exchange effects (3) 1 Ending balance $ 140 $ 124 Indemnification —We are parties to various indemnification arrangements, including arrangements entered into in connection with acquisitions, divestitures and the formation and dissolution of joint ventures. Pursuant to these arrangements, we provide indemnification to and/or receive indemnification from other parties in connection with liabilities that may arise in connection with the transactions and in connection with activities prior to completion of the transactions. These indemnification arrangements typically include provisions pertaining to third-party claims relating to environmental and tax matters, as well as various types of litigation. As of December 31, 2024, we had not accrued any significant amounts for our indemnification obligations, and we are not aware of other circumstances that would likely lead to significant future indemnification obligations. We cannot determine with certainty the potential amount of future payments under the indemnification arrangements until events arise that would trigger a liability under the arrangements. As part of our technology licensing contracts, we give indemnifications to our licensees for liabilities arising from possible patent infringement claims with respect to certain proprietary licensed technologies. Such indemnifications have a stated maximum amount and generally cover a period of 5 to 10 years. Legal Proceedings— We are subject to various lawsuits and claims, including but not limited to, matters involving contract disputes, tort claims, and regulatory disputes alleging environmental damages, personal injury and/or property damage, some of which are covered by insurance. We vigorously defend ourselves and prosecute these matters as appropriate. Our legal organization applies its knowledge, experience and professional judgment to the specific characteristics of our cases, employing a litigation management process to manage and monitor legal proceedings in which we are a party. Our process facilitates the early evaluation and quantification of potential exposures in individual cases. This process also enables us to track those cases that have been scheduled for trial, mediation or other resolution. We regularly assess the adequacy of legal accruals based on our professional judgment, experience and the information available regarding our cases. Based on consideration of all relevant facts and circumstances, we do not believe the ultimate outcome of any currently pending lawsuit or claim against us will have a material adverse effect upon our operations, financial condition or Consolidated Financial Statements.

Shareholders' Equity and Redeem

Shareholders' Equity and Redeemable Non-controlling Interests	12 Months Ended
	Dec. 31, 2024
Shareholders' Equity and Redeemable Non-controlling Interests [Abstract]
Shareholders' Equity and Redeemable Non-controlling Interests Disclosure	Shareholders’ Equity and Redeemable Non-controlling Interests Shareholders’ Equity Dividend Distributions —The following table summarizes the dividends paid to common shareholders in the periods presented: Millions of dollars, except per share amounts Dividend Per Aggregate Date of Record For the year 2024: March $ 1.25 $ 408 March 4, 2024 June 1.34 438 June 3, 2024 September 1.34 437 August 26, 2024 December 1.34 437 December 2, 2024 $ 5.27 $ 1,720 For the year 2023: March $ 1.19 $ 389 March 6, 2023 June 1.25 408 May 30, 2023 September 1.25 407 August 28, 2023 December 1.25 406 November 27, 2023 $ 4.94 $ 1,610 Share Repurchase Authorization —In May 2024, our shareholders approved a proposal to authorize us to repurchase up to 34.0 million ordinary shares, through November 24, 2025 (“2024 Share Repurchase Authorization”), which superseded any prior repurchase authorizations. The timing and amount of these repurchases, which are determined based on our evaluation of market conditions and other factors, may be executed from time to time through open market or privately negotiated transactions. The repurchased shares, which are recorded at cost, are classified as Treasury stock and may be retired or used for general corporate purposes, including for various employee benefit and compensation plans. In May 2023, our shareholders approved a proposal to authorize us to repurchase up to 34.0 million ordinary shares, through November 19, 2024 (“2023 Share Repurchase Authorization”), which superseded any prior repurchase authorizations. In May 2022, our shareholders approved a proposal to authorize us to repurchase up to 34.0 million ordinary shares through November 27, 2023 (“2022 Share Repurchase Authorization”), which superseded our prior repurchase authorizations. The following table summarizes our share repurchase activity for the periods presented: Millions of dollars, except shares and per share amounts Shares Average Total Purchase Price, Including Commissions and Fees For the year 2024: 2024 Share Repurchase Authorization 2,236,348 $ 88.42 $ 198 2,236,348 $ 88.42 $ 198 For the year 2023: 2022 Share Repurchase Authorization 1,365,898 $ 88.98 $ 122 2023 Share Repurchase Authorization 983,309 90.99 89 2,349,207 $ 89.82 $ 211 For the year 2022: 2021 Share Repurchase Authorization 2,111,538 $ 97.72 $ 206 2022 Share Repurchase Authorization 2,286,216 87.50 200 4,397,754 $ 92.41 $ 406 Total cash paid for share repurchases for the years ended December 31, 2024, 2023 and 2022 was $195 million, $211 million and $420 million, respectively. Cash payments made during the reporting period may differ from the total purchase price, including commissions and fees, due to the timing of payments. Ordinary Shares —The changes in the outstanding amounts of ordinary shares are as follows: Year Ended December 31, 2024 2023 2022 Ordinary shares outstanding: Beginning balance 324,483,402 325,723,567 329,536,389 Share-based compensation 1,278,115 793,984 291,104 Employee stock purchase plan 364,663 315,058 293,828 Purchase of ordinary shares (2,236,348) (2,349,207) (4,397,754) Ending balance 323,889,832 324,483,402 325,723,567 Treasury Shares —The changes in the amounts of treasury shares held by the Company are as follows: Year Ended December 31, 2024 2023 2022 Ordinary shares held as treasury shares: Beginning balance 15,939,096 14,698,931 10,675,605 Share-based compensation (1,278,115) (793,984) (291,104) Employee stock purchase plan (364,663) (315,058) (83,324) Purchase of ordinary shares 2,236,348 2,349,207 4,397,754 Ending balance 16,532,666 15,939,096 14,698,931 Accumulated Other Comprehensive Loss —The components of, and after-tax changes in, Accumulated other comprehensive loss as of and for the years ended December 31, 2024, 2023 and 2022 are presented in the following table: Millions of dollars Financial Defined Foreign Total Balance, December 31, 2021 $ (354) $ (528) $ (921) $ (1,803) Other comprehensive income (loss) before reclassifications 393 342 (64) 671 Tax expense before reclassifications (86) (95) (59) (240) Amounts reclassified from accumulated other comprehensive loss (128) 128 — — Tax benefit (expense) 29 (29) — — Net other comprehensive income (loss) 208 346 (123) 431 Balance, December 31, 2022 $ (146) $ (182) $ (1,044) $ (1,372) Other comprehensive (loss) income before reclassifications $ (178) $ (142) $ 45 $ (275) Tax benefit before reclassifications 47 38 28 113 Amounts reclassified from accumulated other comprehensive loss 69 9 — 78 Tax expense (18) (2) — (20) Net other comprehensive (loss) income (80) (97) 73 (104) Balance, December 31, 2023 $ (226) $ (279) $ (971) $ (1,476) Other comprehensive income (loss) before reclassifications $ 51 $ (21) $ (125) $ (95) Tax (expense) benefit before reclassifications (13) 5 (44) (52) Amounts reclassified from accumulated other comprehensive loss 102 18 — 120 Tax expense (25) (4) — (29) Net other comprehensive income (loss) 115 (2) (169) (56) Balance, December 31, 2024 $ (111) $ (281) $ (1,140) $ (1,532) The amounts reclassified out of each component of Accumulated other comprehensive loss are as follows: Millions of dollars Year Ended December 31, Affected Line Items on the Consolidated Statements of Income 2024 2023 2022 Reclassification adjustments for: Financial derivatives: Commodities $ 4 $ — $ — Sales and other operating expenses Commodities 129 33 (59) Cost of sales Foreign currency (35) 31 (75) Interest expense Interest rates 4 5 6 Interest expense Income tax (expense) benefit (25) (18) 29 Provision for income taxes Financial derivatives, net of tax 77 51 (99) Amortization of defined pension items: Settlement loss — — 103 Other income (expense), net Actuarial loss 15 6 22 Other income (expense), net Prior service cost 3 3 3 Other income (expense), net Income tax expense (4) (2) (29) Provision for income taxes Defined pension items, net of tax 14 7 99 Total reclassifications, before tax 120 78 — Income tax expense (29) (20) — Provision for income taxes Total reclassifications, after tax $ 91 $ 58 $ — Amount included in net income Amortization of defined pension items are included in the computation of net periodic pension and other post-retirement benefit costs, see Note 14 to the Consolidated Financial Statements. Redeemable Non-controlling Interests As of December 31, 2024 and 2023, we had 113,053 and 113,075 shares of redeemable non-controlling interest stock outstanding, respectively. During the years ended December 31, 2024 and 2023, 22 and 396 shares, respectively, were redeemed for less than $1 million in each year. During the year ended December 31, 2022, 1,903 shares were redeemed for approximately $2 million. In February, May, August and November 2024, we paid cash dividends of $15.00 per share to our redeemable non-controlling interest stock shareholders of record as of January 15, 2024, April 15, 2024, July 15, 2024, and October 15, 2024, respectively. In 2024, 2023 and 2022, these dividends were $7 million for each year.

Per Share Data

Per Share Data	12 Months Ended
	Dec. 31, 2024
Earnings Per Share [Abstract]
Per Share Data	Per Share Data Basic earnings per share is based upon the weighted average number of shares of common stock outstanding during the period. Diluted earnings per share includes the effect of certain stock option and other equity-based compensation awards. Our unvested restricted stock units contain non-forfeitable rights to dividend equivalents and are considered participating securities. We calculate basic and diluted earnings per share under the two-class method. Earnings per share data is as follows: Year Ended December 31, 2024 2023 2022 Continuing Discontinued Continuing Discontinued Continuing Discontinued Millions of dollars Operations Operations Operations Operations Operations Operations Net income (loss) $ 1,363 $ 4 $ 2,126 $ (5) $ 3,894 $ (5) Dividends on redeemable non-controlling interests (7) — (7) — (7) — Net income attributable to participating securities (6) — (7) — (10) — Net income (loss) attributable to ordinary shareholders—basic and diluted $ 1,350 $ 4 $ 2,112 $ (5) $ 3,877 $ (5) Millions of shares, Basic weighted average common stock outstanding 325 325 325 325 327 327 Effect of dilutive securities 1 1 1 1 1 1 Potential dilutive shares 326 326 326 326 328 328 Earnings (loss) per share: Basic $ 4.15 $ 0.01 $ 6.50 $ (0.02) $ 11.86 $ (0.02) Diluted $ 4.14 $ 0.01 $ 6.48 $ (0.02) $ 11.83 $ (0.02)

Segment and Related Information

Segment and Related Information	12 Months Ended
	Dec. 31, 2024
Segment Reporting [Abstract]
Segment and Related Information	Segment and Related Information Our operations are managed by senior executives who report to our Chief Executive Officer, the chief operating decision maker. Discrete financial information is available for each of the segments. The Chief Executive Officer uses EBITDA as the primary measure for reviewing the profitability of our segments and allocating resources to the segments. We define EBITDA as earnings from continuing operations before interest, income taxes, and depreciation and amortization. The activities of each of our segments from which they earn revenues and incur expenses are described below: • Olefins and Polyolefins-Americas (“O&P-Americas”). Our O&P-Americas segment produces and markets olefins and co-products, polyethylene and polypropylene. • Olefins and Polyolefins-Europe, Asia, International (“O&P-EAI”). Our O&P-EAI segment produces and markets olefins and co-products, polyethylene and polypropylene. • Intermediates and Derivatives (“I&D”). Our I&D segment produces and markets propylene oxide and its derivatives, oxyfuels and related products, and intermediate chemicals such as styrene monomer and acetyls. • Advanced Polymer Solutions (“APS”) . Our APS segment produces and markets compounding and solutions, such as polypropylene compounds, engineered plastics, masterbatches, engineered composites, colors and powders. • Refining . Our Refining segment refines heavy, high-sulfur crude oil and other crude oils of varied types and sources available on the U.S. Gulf Coast into refined products, including gasoline and distillates. • Technology . Our Technology segment develops and licenses chemical and polyolefin process technologies and manufactures and sells polyolefin catalysts. “Other” includes intersegment eliminations and items that are not directly related or allocated to business operations, such as foreign exchange gains or losses and components of pension and other post-retirement benefit costs other than service costs. Sales between segments are made at prices approximating prevailing market prices. Summarized financial information concerning reportable segments is shown in the following tables for the periods presented: Year Ended December 31, 2024 O&P - O&P - I&D APS Refining Technology Other Total Millions of dollars Sales and other operating revenues: Customers $ 7,619 $ 10,188 $ 10,219 $ 3,616 $ 8,080 $ 580 $ — $ 40,302 Intersegment 3,914 679 205 18 479 91 (5,386) — 11,533 10,867 10,424 3,634 8,559 671 (5,386) 40,302 Less: Cost of sales 9,261 10,529 9,208 3,271 8,639 211 (5,381) 35,738 Impairments — 892 2 55 — — — 949 (Income) loss from equity investments (13) 217 13 — — — — 217 Gain on sale of business — — (284) — — — — (284) Other items 459 440 222 344 130 123 30 1,748 Add: Depreciation and amortization expense 619 220 401 90 150 42 — 1,522 EBITDA $ 2,445 $ (991) $ 1,664 $ 54 $ (60) $ 379 $ (35) $ 3,456 Capital expenditures $ 635 $ 525 $ 445 $ 105 $ 31 $ 95 $ 3 $ 1,839 Year Ended December 31, 2023 Millions of dollars O&P - O&P - I&D APS Refining Technology Other Total Sales and other operating revenues: Customers $ 6,967 $ 9,822 $ 10,875 $ 3,686 $ 9,179 $ 578 $ — $ 41,107 Intersegment 4,313 657 211 12 535 85 (5,813) — 11,280 10,479 11,086 3,698 9,714 663 (5,813) 41,107 Less: Cost of sales 9,146 10,165 9,383 3,393 9,357 210 (5,805) 35,849 Impairments 25 38 192 252 11 — — 518 (Income) loss from equity investments (49) 55 13 1 — — — 20 Other items 442 437 262 312 125 119 48 1,745 Add: Depreciation and amortization expense 587 207 443 98 158 41 — 1,534 EBITDA $ 2,303 $ (9) $ 1,679 $ (162) $ 379 $ 375 $ (56) $ 4,509 Capital expenditures $ 480 $ 273 $ 590 $ 75 $ 32 $ 69 $ 12 $ 1,531 Year Ended December 31, 2022 Millions of dollars O&P - O&P - I&D APS Refining Technology Other Total Sales and other operating revenues: Customers $ 9,420 $ 12,568 $ 12,703 $ 4,197 $ 10,975 $ 588 $ — $ 50,451 Intersegment 5,060 887 247 5 918 105 (7,222) — 14,480 13,455 12,950 4,202 11,893 693 (7,222) 50,451 Less: Cost of sales 11,953 12,943 11,135 3,901 10,883 242 (7,210) 43,847 Impairments — 69 — — — — — 69 (Income) loss from equity investments (98) 68 25 — — — — (5) Other items 351 368 250 281 128 124 4 1,506 Add: Depreciation and amortization expense 591 171 332 95 39 39 — 1,267 EBITDA $ 2,865 $ 178 $ 1,872 $ 115 $ 921 $ 366 $ (16) $ 6,301 Capital expenditures $ 383 $ 349 $ 940 $ 60 $ 53 $ 98 $ 7 $ 1,890 Other items include Selling, general and administrative expenses, Research and development expenses, and Other income (expense), net. A reconciliation of EBITDA to Income from continuing operations before income taxes is shown in the following table for each of the periods presented: Year Ended December 31, Millions of dollars 2024 2023 2022 EBITDA: Total segment EBITDA $ 3,491 $ 4,565 $ 6,317 Other EBITDA (35) (56) (16) Less: Depreciation and amortization expense (1,522) (1,534) (1,267) Interest expense (481) (477) (287) Add: Interest income 150 129 29 Income from continuing operations before income taxes $ 1,603 $ 2,627 $ 4,776 The following assets are summarized and reconciled to consolidated totals in the following table: Millions of dollars O&P - O&P - I&D APS Refining Technology Total December 31, 2024 Property, plant and equipment, net $ 6,592 $ 1,553 $ 5,670 $ 655 $ — $ 596 $ 15,066 Equity investments 2,011 1,732 377 1 — — 4,121 Goodwill 472 355 209 517 — 8 1,561 December 31, 2023 Property, plant and equipment, net $ 6,441 $ 2,139 $ 5,654 $ 678 $ 122 $ 513 $ 15,547 Equity investments 2,049 1,513 343 2 — — 3,907 Goodwill 477 380 215 567 — 8 1,647 Long-lived assets include Property, plant and equipment, net, Intangible assets, net and Equity investments, see Notes 7 and 8 to the Consolidated Financial Statements. The following long-lived assets data is based upon the location of the assets: December 31, Millions of dollars 2024 2023 Long-lived assets: United States $ 14,456 $ 14,334 Germany 1,691 1,593 The Netherlands 784 879 Italy 399 389 Mexico 257 281 France 171 731 China 124 375 Other 1,882 1,513 Total $ 19,764 $ 20,095 Disposition of Ethylene Oxide & Derivatives (“EO&D”) Business— In May 2024, we sold our U.S. Gulf Coast-based EO&D business along with the production facilities located in Bayport, TX. The EO&D business was included in our I&D segment. In connection with the sale, we received cash proceeds of $689 million and recognized a pre-tax gain of $284 million in 2024. Houston Refinery Operations— In 2022 we announced our plan to exit the refining business as it was determined to be the best strategic and financial path forward for the Company. We commenced shutdown activities in January 2025 and anticipate our refinery exit will be substantially completed in the first quarter of 2025. Costs incurred for the planned exit from the refinery business are as follows: Year Ended December 31, Cumulative Millions of dollars 2024 2023 2022 2024 Accelerated lease amortization costs $ 38 $ 110 $ 91 $ 239 Personnel costs 35 76 64 175 Asset retirement obligation accretion 8 9 2 19 Asset retirement cost depreciation 80 139 30 249 Other charges 18 — — 18 Refinery exit costs $ 179 $ 334 $ 187 $ 700 As of December 31, 2024, cumulative refinery exit costs were $700 million. We expect to incur an additional $70 million in subsequent periods, primarily due to the accretion of liabilities recorded for asset retirement obligations. We estimate that over half of these remaining costs will be incurred in 2025, with the remainder incurred over the next four years. Impairments— In 2024, we recorded impairments totaling $949 million. This amount includes charges related to the impairment of assets in our O&P-EAI and APS segments of $892 million and $55 million, respectively. Impairment charges included in our O&P-EAI segment relate to assets included in our European strategic review and a Chinese joint venture of $837 million and $52 million, respectively. These impairment charges reflect challenging market conditions in these regions. Impairments included in our APS segment includes an impairment charge of $55 million driven by unfavorable market conditions which resulted in the loss of customers in our APS specialty powders business unit. In 2023, we recorded a non-cash impairment charge of $192 million related to our European PO Joint Venture, which is included in the operating results for our I&D segment. See Notes 7 and 8 to the Consolidated Financial Statements for additional information. Segment Structure Changes and Related Goodwill Impairment— Effective January 1, 2023, our Catalloy and polybutene-1 businesses were moved from our APS segment and reintegrated into our O&P-Americas and O&P-EAI segments. In connection with this change, we recognized a non-cash goodwill impairment charge of $252 million in our APS segment. See Note 7 to the Consolidated Financial Statements for additional information regarding the impairment charge. Disposition of Australian Facility— In the second quarter of 2022 we sold our ownership interest in our PP manufacturing facility located in Geelong, Australia, LyondellBasell Australia (Holdings) Pty Ltd, for consideration of $38 million. In connection with this sale, we assessed the assets of the disposal group for impairment and determined that the carrying value exceeded the fair value less costs to sell. As a result, we recognized a non-cash impairment charge in the second quarter of 2022 of $69 million in the operating results of our O&P-EAI segment. The fair value measurement for the disposal group was based on expected consideration and classified as Level 3 within the fair value hierarchy. The charge is reflected as Impairments in the Consolidated Statements of Income.

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Dec. 31, 2024
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Insider Trading Policies and Pr

Insider Trading Policies and Procedures	12 Months Ended
	Dec. 31, 2024
Insider Trading Policies and Procedures [Line Items]
Insider Trading Policies and Procedures Adopted	true

Cybersecurity Risk Management a

Cybersecurity Risk Management and Strategy Disclosure	12 Months Ended
	Dec. 31, 2024
Cybersecurity Risk Management, Strategy, and Governance [Line Items]
Cybersecurity Risk Management Processes for Assessing, Identifying, and Managing Threats [Text Block]	We recognize sophisticated global cybersecurity threats and targeted computer crimes pose a continuously evolving risk to the confidentiality, availability, and integrity of our data, operations and infrastructure. We have implemented comprehensive practices to minimize these risks. Our cybersecurity program is certified to the International Organization for Standardization ISO 27001, a standard for information security management, which covers key areas of management, technical and physical controls, legal, compliance and business continuity management. Our management utilizes a systematic approach to evaluating and determining risk tolerance and prioritizes the safeguarding of our digital assets. The Chief Information Security Officer (“CISO”) is the Vice President of Cybersecurity leading our cybersecurity program and reports to the Executive Vice President and Chief Innovation Officer, who serves on the Executive Committee and reports to the CEO. The CISO has a Master of Science degree in Cybersecurity Operations, is certified as an information security professional with the International Information System Security Certification Consortium (ISC2) and International Association of Privacy Professionals, and has over thirty years of leadership experience in technology, systems architecture, and cybersecurity. Cybersecurity events are continuously monitored by global security operations centers staffed in the United States, European Union, and Asia Pacific regions with events and incidents being managed based upon the MITRE ATT&CK framework, a system for classifying and describing cyberattacks and intrusions. Management provides guidance and is informed of cybersecurity events through a committee with cross-functional representation of executive leadership. The committee meets at least quarterly for activities such as determining policy, reviewing active risks, assessing impact of emerging threats or regulatory changes, and monitoring active incidents. This committee also receives escalated alerts within 24-hours of confirmed cybersecurity events, and will determine the severity of the incident, engage with crisis management as necessary, and disseminate that information internally as appropriate and warranted. The Company’s generative artificial intelligence strategy is to “Generate Responsibly,” actively providing education and awareness, encouraging the safe exploration of generative AI tools and resources, consistent with Company data protection policies and standards. Third-party service providers must meet baseline security requirements before they connect to our systems or manage sensitive information. They are evaluated based on risk, which is based on financial, operational, legal/regulatory, capacity, cybersecurity posture, and reputational impact. Additionally, high risk third-party service providers are continuously monitored for security health and active threats. We recognize the risk posed by global cybersecurity threats, and our Board is regularly updated on emerging risks and maintains oversight of our cybersecurity program implemented to address them. In 2024, management provided a detailed cybersecurity update to the Board and led discussions on specific cybersecurity and process control topics at its May meeting. The Board also attended a training session led by outside counsel on the challenges public companies face with respect to cybersecurity and ransomware attacks in November. While management is responsible for assessing and managing our day-to-day risks and control systems, the Audit Committee of the Board oversees our information technology and cybersecurity risks. The Committee conducts a comprehensive review of cybersecurity topics and reviews our programs and practices with management at least annually, and receives management’s report on our cybersecurity dashboard, which summarizes key security metrics and activities, at each quarterly Committee meeting. To further advance cybersecurity awareness, we are developing solutions to mitigate the impact of third-party fraudulent cyber activity, including public facing portals for potential and current partners with capability to report suspected phishing. Our cybersecurity program includes, but is not limited to: • annual cybersecurity education for all company computer users on relevant policies and standards, best practices at work and at home; • communication processes including how to identify, respond, and report threats or potential vulnerabilities; • protective software installed and configured on Company systems and mobile devices, updated and patched on a regular basis, to provide the highest level of protection against malicious threats; • an established program based on the MITRE ATT&CK framework for dealing with ransomware and other cybersecurity incidents; • regular technical risk assessments of our network, applications and manufacturing facilities, using a combination of trusted suppliers and a dedicated, objective team; • penetration, discovery and vulnerability assessments conducted daily; • mobile threat protection mechanisms and policies; • business continuity plans that are well documented and tested regularly; disaster recovery plans that are also well documented and tested at least annually; certain key financial applications that are tested at least semi-annually; and • coverage for non-damage business interruption or liability for data breaches as a part of the Company’s combined insurance programs.
Cybersecurity Risk Management Processes Integrated [Flag]	true
Cybersecurity Risk Management Processes Integrated [Text Block]	We recognize sophisticated global cybersecurity threats and targeted computer crimes pose a continuously evolving risk to the confidentiality, availability, and integrity of our data, operations and infrastructure. We have implemented comprehensive practices to minimize these risks. Our cybersecurity program is certified to the International Organization for Standardization ISO 27001, a standard for information security management, which covers key areas of management, technical and physical controls, legal, compliance and business continuity management.
Cybersecurity Risk Management Third Party Engaged [Flag]	true
Cybersecurity Risk Third Party Oversight and Identification Processes [Flag]	true
Cybersecurity Risk Materially Affected or Reasonably Likely to Materially Affect Registrant [Flag]	false
Cybersecurity Risk Board of Directors Oversight [Text Block]	While management is responsible for assessing and managing our day-to-day risks and control systems, the Audit Committee of the Board oversees our information technology and cybersecurity risks. The Committee conducts a comprehensive review of cybersecurity topics and reviews our programs and practices with management at least annually, and receives management’s report on our cybersecurity dashboard, which summarizes key security metrics and activities, at each quarterly Committee meeting.
Cybersecurity Risk Board Committee or Subcommittee Responsible for Oversight [Text Block]	While management is responsible for assessing and managing our day-to-day risks and control systems, the Audit Committee of the Board oversees our information technology and cybersecurity risks.
Cybersecurity Risk Process for Informing Board Committee or Subcommittee Responsible for Oversight [Text Block]	The Committee conducts a comprehensive review of cybersecurity topics and reviews our programs and practices with management at least annually, and receives management’s report on our cybersecurity dashboard, which summarizes key security metrics and activities, at each quarterly Committee meeting.
Cybersecurity Risk Role of Management [Text Block]	Management provides guidance and is informed of cybersecurity events through a committee with cross-functional representation of executive leadership. The committee meets at least quarterly for activities such as determining policy, reviewing active risks, assessing impact of emerging threats or regulatory changes, and monitoring active incidents. This committee also receives escalated alerts within 24-hours of confirmed cybersecurity events, and will determine the severity of the incident, engage with crisis management as necessary, and disseminate that information internally as appropriate and warranted. The Company’s generative artificial intelligence strategy is to “Generate Responsibly,” actively providing education and awareness, encouraging the safe exploration of generative AI tools and resources, consistent with Company data protection policies and standards.
Cybersecurity Risk Management Positions or Committees Responsible [Flag]	true
Cybersecurity Risk Management Positions or Committees Responsible [Text Block]	Our management utilizes a systematic approach to evaluating and determining risk tolerance and prioritizes the safeguarding of our digital assets. The Chief Information Security Officer (“CISO”) is the Vice President of Cybersecurity leading our cybersecurity program and reports to the Executive Vice President and Chief Innovation Officer, who serves on the Executive Committee and reports to the CEO.
Cybersecurity Risk Management Expertise of Management Responsible [Text Block]	The CISO has a Master of Science degree in Cybersecurity Operations, is certified as an information security professional with the International Information System Security Certification Consortium (ISC2) and International Association of Privacy Professionals, and has over thirty years of leadership experience in technology, systems architecture, and cybersecurity.
Cybersecurity Risk Process for Informing Management or Committees Responsible [Text Block]	Management provides guidance and is informed of cybersecurity events through a committee with cross-functional representation of executive leadership. The committee meets at least quarterly for activities such as determining policy, reviewing active risks, assessing impact of emerging threats or regulatory changes, and monitoring active incidents. This committee also receives escalated alerts within 24-hours of confirmed cybersecurity events, and will determine the severity of the incident, engage with crisis management as necessary, and disseminate that information internally as appropriate and warranted. The Company’s generative artificial intelligence strategy is to “Generate Responsibly,” actively providing education and awareness, encouraging the safe exploration of generative AI tools and resources, consistent with Company data protection policies and standards.
Cybersecurity Risk Management Positions or Committees Responsible Report to Board [Flag]	true

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2024
Accounting Policies [Abstract]
Basis of Preparation and Consolidation	Basis of Preparation and Consolidation The accompanying Consolidated Financial Statements have been prepared from the books and records of LyondellBasell N.V. under accounting principles generally accepted in the United States (“U.S. GAAP”). Subsidiaries are defined as being those companies over which we, either directly or indirectly, have control through a majority of the voting rights or the right to exercise control or to obtain the majority of the benefits and be exposed to the majority of the risks. Subsidiaries are consolidated from the date on which control is obtained until the date that such control ceases. All intercompany transactions and balances have been eliminated in consolidation.
Cash and Cash Equivalents	Cash and Cash Equivalents Our cash equivalents consist of highly liquid debt instruments such as certificates of deposit, commercial paper and money market accounts with major international banks and financial institutions. Cash equivalents also include other instruments with maturities of three months or less when acquired and exclude restricted cash.
Short-Term Investments	Short-Term Investments Our investments in debt securities are classified as available-for-sale and held-to-maturity on the basis of our intent and ability to hold the investments. Investments classified as available-for-sale are carried at fair value with changes reflected in other comprehensive income (loss). Credit-related impairments, measured using expected cash flows and limited to the amount by which the amortized cost basis of a security exceeds its fair value, are recognized through an allowance for expected credit losses, and adjusted subsequently if conditions change, with a corresponding impact in earnings. Where there is an intention or a requirement to sell an impaired available-for-sale debt security, the entire impairment is recognized in earnings with a corresponding adjustment to the amortized cost basis of the security. Investments classified as held-to-maturity are carried at amortized cost less allowance for credit losses recorded through Net income.
Trade Receivables	Trade Receivables Trade receivables are amounts due from customers for merchandise sold or services performed in the ordinary course of business and are carried at transaction price net of allowance for credit losses. Allowance for credit losses is measured using historical loss rates for the respective risk categories and incorporating forward-looking estimates. The corresponding expense for the loss allowance is reflected in Selling, general and administrative expenses.
Inventories	Inventories Cost of our raw materials, work-in-progress and finished goods inventories is determined using the last-in, first-out (“LIFO”) method and is carried at the lower of cost or market value. Cost of our materials and supplies inventory is determined using the average cost method and is carried at the lower of cost and net realizable value. Inventory exchange transactions, which involve fungible commodities, are not accounted for as purchases and sales. Any resulting volumetric exchange balances are accounted for as inventory, with cost determined using the LIFO method.
Property, Plant and Equipment	Property, Plant and Equipment Property, plant and equipment are recorded at historical cost. Historical cost includes expenditures that are directly attributable to the acquisition of the items. Costs may also include borrowing costs incurred on debt during construction of major projects exceeding one year, costs of major maintenance arising from turnarounds of major units and legally obligated decommissioning costs. Routine maintenance costs are expensed as incurred. Depreciation is computed using the straight-line method over the estimated useful lives of assets to their residual values. The residual values and useful lives of assets are reviewed, and adjusted if appropriate, whenever events or circumstances indicate that a revision is warranted. Land is not depreciated. We evaluate property, plant and equipment for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. Long-lived assets are grouped at the lowest level for which there are identifiable cash flows that are largely independent of the cash flows of other groups of assets, which, for us, is generally at the plant group level (or, at times, individual plants in certain circumstances where we have isolated production units with separately identifiable cash flows). If it is determined that an asset or asset group’s carrying value exceeded its estimated fair value, the asset is written down to its estimated fair value.
Equity Investments	Equity Investments We account for equity method investments (“equity investments”) using the equity method of accounting if we have the ability to exercise significant influence over, but do not control, an investee. Significant influence generally exists if we have an ownership interest representing between 20% and 50% of the voting rights. Under the equity method of accounting, investments are stated initially at cost and are adjusted for subsequent additional investments and our proportionate share of profit or losses and distributions. We record our share of the profits or losses of the equity investments, net of income taxes, in the Consolidated Statements of Income. When our share of losses in an equity investment equals or exceeds the carrying amount of our investment including advances made by us, we do not recognize further losses, unless we have guaranteed obligations or are otherwise committed to provide further financial support to the investee. We discontinue applying equity method accounting when our investment is reduced to zero. We record equity losses in excess of the carrying amount of an investment only when we guarantee obligations or we are otherwise committed to provide further financial support to the affiliate. Equity method of accounting is resumed only after the investment realizes net income in excess of our share of net losses not recognized during the period equity method was suspended. We assess our equity investments for impairment whenever events or changes in circumstances indicate that the carrying amount of the investment may not be recoverable. If the decline in value is considered to be other-than-temporary, the investment is written down to its estimated fair value. Investments in PO Joint Ventures and the Louisiana Joint Venture —We share ownership with Covestro PO LLC, a subsidiary of Covestro AG (collectively “Covestro”), in a U.S. propylene oxide (“PO”) joint venture located in Texas (the “U.S. PO Joint Venture”) and a PO/styrene monomer (“SM” or “styrene”) joint venture located in The Netherlands (the “European PO Joint Venture”, collectively the “PO Joint Ventures”). We operate the PO Joint Ventures manufacturing facilities and arrange the logistics of product delivery. Each partner funds their share of capital expenditures, reimburses manufacturing operating expenses excluding depreciation and amortization expenses, and receives a share of production in-kind. The U.S. PO Joint Venture owns a PO/SM and a PO/tertiary butyl alcohol (“TBA”) plant. Covestro’s interest in the U.S. PO Joint Venture represents ownership of an in-kind portion of the PO production of 680 thousand tons per year. We take, in-kind, the remaining PO production and all co-product production. The European PO Joint Venture owns a PO/SM plant in which each partner is entitled to 50% of the annual in-kind cost-based PO and SM production. We share ownership in the Louisiana Integrated PolyEthylene JV LLC joint venture (the “Louisiana Joint Venture”) with Sasol Chemicals (USA) LLC (“Sasol”). Under this arrangement, we have a 50% ownership interest in an ethane cracker, a low-density and linear-low density polyethylene plant, and associated infrastructure. Under the terms of the joint venture agreement, each partner provides pro-rata share of ethane feedstocks and off-takes pro-rata shares of cracker and polyethylene products in-kind. We operate the Louisiana Joint Venture assets and market the polyethylene off-take for all partners through our global sales team. We account for the PO Joint Ventures and the Louisiana Joint Venture using the equity method. The joint ventures were formed solely for the benefit of the partners and do not manufacture for any other parties. We report the cost of our product off-take as Inventory and the equity loss as Cost of sales in our Consolidated Financial Statements. Related production cash flows are reported in the operating cash flow section of the Consolidated Statements of Cash Flows. Our equity investment in the PO Joint Ventures and the Louisiana Joint Venture represents our share of the manufacturing plants and is decreased by recognition of our share of equity loss, which is equal to the depreciation of the assets of these joint ventures. Other changes in the investment balance are principally due to our additional capital contributions to these joint ventures to fund capital expenditures. Such contributions are reported in the investing cash flow section of the Consolidated Statements of Cash Flows. Our product off-take of PO and its co-products from the PO Joint Ventures was 2.0 million, 2.2 million and 2.4 million tons in 2024, 2023 and 2022, respectively. Our product off-take of ethylene and polyethylene produced from the Louisiana Joint Venture was 1.1 million, 1.2 million, and 1.0 million tons in 2024, 2023, and 2022, respectively.
Redeemable Non-controlling Interests	Redeemable Non-controlling Interests Our redeemable non-controlling interests relate to shares of cumulative perpetual special stock (“redeemable non-controlling interest stock”) issued by our consolidated subsidiary, formerly known as A. Schulman, Inc. (“A. Schulman”). Holders of redeemable non-controlling interest stock are entitled to receive cumulative dividends at the rate of 6% per share and the liquidation preference of $1,000 per share. Redeemable non-controlling interest stock may be redeemed at any time at the discretion of the holders and is reported in the Consolidated Balance Sheets outside of permanent equity. Dividends on these shares are deducted from or added to the amount of Income (loss) attributable to the Company shareholders if and when declared by the Company.
Goodwill	Goodwill Goodwill is tested for impairment annually in the fourth quarter or whenever events or changes in circumstances indicate that the fair value of a reporting unit with goodwill is less than its carrying amount. We first assess qualitative factors to determine whether it is more likely than not that the fair value of a reporting unit is less than its carrying value. Qualitative factors assessed for each of the reporting units include, but are not limited to, changes in long-term commodity prices, discount rates, competitive environments, planned capacity, cost factors such as raw material prices, and financial performance of the reporting units. If the qualitative assessment indicates that it is more likely than not that the carrying value of a reporting unit exceeds its fair value, a quantitative test is required. If the carrying value of the reporting unit including goodwill exceeds its fair value, an impairment charge equal to the excess would be recognized up to a maximum amount of goodwill allocated to that reporting unit. In the fourth quarter of 2024, we performed a qualitative impairment assessment of our reporting units, which indicated that it was more likely than not that the fair value of our reporting units was greater than their carrying value including goodwill. Accordingly, a quantitative goodwill impairment test was not required.
Intangible Assets	Intangible Assets Intangible assets consist of emission allowances, various contracts, software costs, patents and trademarks, know-how, and in-process research and development costs. These assets are amortized using the straight-line method over their estimated useful lives or over the term of the related agreement. We evaluate definite-lived intangible assets with the associated long-lived asset group for impairment whenever impairment indicators are present.
Research and Development	Research and Development Research and development (“R&D”) costs are expensed when incurred. Subsidies for R&D are included in Other income (expense), net. Depreciation expense related to assets employed in R&D is included as a cost of R&D.
Income Taxes	Income Taxes The income tax for the period comprises current and deferred tax. Income tax is recognized in the Consolidated Statements of Income, except to the extent that it relates to items recognized in other comprehensive income (loss) or directly in equity. In these cases, the applicable tax amount is recognized in other comprehensive income (loss) or directly in equity, respectively. Deferred income taxes reflect the tax effects of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts recognized for income tax purposes, as well as the net tax effects of net operating loss carryforwards. Valuation allowances are provided against deferred tax assets when it is more likely than not that some portion or all of the deferred tax asset will not be realized. We recognize uncertain income tax positions in our financial statements when we believe it is more likely than not, based on the technical merits, that the position or a portion thereof will be sustained upon examination. For a position that is more likely than not to be sustained, the benefit recognized is measured at the largest cumulative amount that is greater than 50 percent likely of being realized.
Environmental Remediation Costs	Environmental Remediation Costs —Environmental remediation liabilities include liabilities related to sites we currently own, sites we no longer own, as well as sites where we have operated that belong to other parties. Liabilities for anticipated expenditures related to investigation and remediation of contaminated sites are accrued when it is probable a liability has been incurred and the amount of the liability can be reasonably estimated. Only certain post-remediation monitoring costs, the timing of which can be determined with reasonable certainty, are discounted to present value.
Asset Retirement Obligations	Asset Retirement Obligations —At some sites, we are legally obligated to decommission our plants upon site exit. Asset retirement obligations are recorded at the fair value using the present value of the estimated costs to retire the asset at the time the obligation is incurred. That cost, which is capitalized as part of the related long-lived asset, is depreciated on a straight-line basis over the remaining useful life of the related asset. Accretion expense in connection with the discounted liability is recognized over the estimated timeline to settle the obligation. Such depreciation and accretion expenses are included in Cost of sales.
Foreign Currency Translation and Remeasurement	Foreign Currency Translation and Remeasurement Functional and Reporting Currency —Items included in the financial information of each of LyondellBasell N.V.’s entities are measured using the currency of the primary economic environment in which the entity operates (“the functional currency”) and then translated to the U.S. dollar (“the reporting currency”) as follows: • Assets and liabilities for each balance sheet presented are translated at the closing rate at the date of that balance sheet; • Income and expenses for each income statement are translated at monthly average exchange rates; and • All resulting exchange differences are recognized as a separate component within other comprehensive income (loss) (foreign currency translation adjustments). Transactions and Balances —Foreign currency transactions are recorded in their respective functional currency using exchange rates prevailing at the dates of the transactions. Exchange gains and losses resulting from the settlement of such transactions and from remeasurement of monetary assets and liabilities denominated in foreign currencies at the balance sheet date are recognized in earnings.
Revenue Recognition	Revenue Recognition Substantially all our revenues are derived from contracts with customers. We account for contracts when both parties have approved the contract and are committed to perform, the rights of the parties and payment terms have been identified, the contract has commercial substance and collectability is probable. Revenue is recognized when obligations under the terms of a contract with our customer are satisfied. This generally occurs at the point in time when performance obligations are fulfilled and control transfers to the customer. In most instances, control transfers upon transfer of risk of loss and title to the customer, which usually occurs when we ship products to the customer from our manufacturing facility. Revenue is measured as the amount of consideration we expect to receive in exchange for transferring goods. Customer incentives are generally based on volumes purchased and recognized over the period earned. Sales, value-added, and other taxes that we collect concurrent with revenue-producing activities are excluded from the transaction price as they represent amounts collected on behalf of third parties. We apply the practical expedient to recognize the incremental costs of obtaining a contract as an expense when incurred if the amortization period of the asset that we otherwise would have recognized is one year or less. Shipping and handling costs are treated as a fulfillment cost and not as a separate performance obligation. We have marketing arrangements to off-take and sell the production of some of our joint ventures in return for a percentage of the price realized on the sales to the end customer. In such arrangements, when we obtain control of the product, revenue and cost of sales are presented on a gross basis. Otherwise, we recognize revenue, net of amounts due to the joint venture, which represents commissions earned. Payments are typically required within a short period following the transfer of control of the product to the customer. We occasionally require customers to prepay purchases to ensure collectability. Such prepayments do not represent financing arrangements, since payment occurs within a short time frame. We apply the practical expedient which permits us to disregard the effects of a significant financing component when, at contract inception, we expect the period between the payment and fulfillment of the performance obligation will be one year or less. Contract balances typically arise when a difference in timing between the transfer of control to the customer and receipt of consideration occurs. Our contract liabilities, which are reflected in our Consolidated Financial Statements as Accrued and other current liabilities, and Other liabilities, consist primarily of customer payments for products or services received before the transfer of control to the customer occurs.
Share-Based Compensation	Share-Based Compensation We grant restricted stock units (“RSUs”), performance share units (“PSUs”), and other cash and stock awards to employees as a form of compensation. Prior to 2024, we also granted stock option awards (“Stock options”). Our share-based compensation awards are accounted for as equity-classified awards with compensation expense based on the grant date fair value and recognized over the vesting period in the income statement. We use a straight-line vesting method for cliff-vested awards and a graded vesting method for ratable-vested awards. We have elected to recognize forfeitures as they occur for stock-based compensation. When options are exercised and awards are paid out, shares are issued from our treasury shares. The holders of unvested RSUs are entitled to nonforfeitable dividend equivalents settled in the form of cash payments, which are recognized as dividends in Retained earnings. Outstanding PSUs accrue dividend equivalent units, which will be converted to shares upon payment at the end of the performance period and are classified as Accrued and other current liabilities and Other liabilities on the Consolidated Balance Sheets. Dividend equivalents for PSUs are also recorded in Retained earnings. See Notes 15 and 18 to the Consolidated Financial Statements for additional information.
Leases	Leases Leases with a term longer than 12 months are recorded on the balance sheet as a lease asset and lease liability. If at inception of a contract, a lease is identified, we recognize a lease asset and a corresponding lease liability based on the present value of the lease payments over the lease term, discounted using our incremental borrowing rate, unless an implicit rate is readily determinable. Lease payments include fixed and variable lease components derived from usage or market-based indices, such as the consumer price index. Other variable lease payments may fluctuate for a variety of reasons including usage, output, insurance or taxes. These variable amounts are expensed as incurred and not included in the lease assets or lease liabilities. Options to extend or terminate a lease are reflected in the lease payments and lease term when it is reasonably certain that we will exercise those options. Leases are classified as either finance or operating, with classification affecting the pattern of expense recognition in the Consolidated Statements of Income. The majority of our leases are operating leases for which we recognize lease expense on a straight-line basis over the lease term. We apply the practical expedient to account for lease and associated non-lease components as a single lease component for all asset classes with the exception of utilities and pipeline assets within major manufacturing equipment. For these assets, non-lease components are separated from lease components and accounted for as normal operating expenses. Leases with an initial term of 12 months or less are recognized in the Consolidated Statements of Income on a straight-line basis over the lease term.
Financial Instruments and Hedging Activities	Financial Instruments and Hedging Activities Pursuant to our risk management policies, we selectively enter into derivative transactions to manage market risk volatility associated with changes in commodity pricing, currency exchange rates and interest rates. Certain derivatives used for this purpose are designated as net investment hedges, cash flow hedges or fair value hedges. Derivative instruments are recorded at fair value on the balance sheet. Gains and losses related to changes in the fair value of derivative instruments not designated as hedges are recorded in earnings. Cash flows from derivatives designated as hedges are reported in our Consolidated Statements of Cash Flows under the same category as the cash flows from the hedged items unless the derivative contract contains a significant financing element. Cash flows for derivatives with a significant financing element are classified as Cash flows from financing activities. Cash flows related to economic hedges are classified consistent with the cash flows of the economic hedged items. Net Investment Hedges —We enter into foreign currency derivatives and foreign currency denominated debt to reduce the volatility in shareholders’ equity resulting from changes in currency exchange rates of our foreign subsidiaries with respect to the U.S. dollar. Our foreign currency derivatives consist of cross-currency contracts and forward exchange contracts. We use the critical terms approach through the application of the spot method to assess hedge effectiveness at least quarterly. For derivatives designated as net investment hedges, gains or losses attributable to changes in spot foreign exchange rates over the designation period are reflected in foreign currency translation adjustments within other comprehensive income (loss). Recognition in earnings is delayed until the net investment is sold or liquidated. At that time, the amount recognized is reported in the same line item as the gain or loss on the liquidation of the hedged foreign operations. For our cross-currency swaps, the associated interest receipts and payments are recorded in Interest expense. For our foreign currency forward contracts, we amortize initial forward point values on a straight-line basis to interest expense over the life of the hedging instrument. We monitor on a quarterly basis for any over-hedged positions requiring de-designation and re-designation of the hedge to remove such over-hedged condition. Cash Flow Hedges —We enter into cash flow hedges to manage the variability in cash flows of a future transaction. Our cash flow hedges include cross currency swaps, forward starting interest rate swaps and commodity swaps. For derivatives designated as cash flow hedges, the gains and losses are recorded in other comprehensive income (loss) and released to earnings in the same line item and in the same period during which the hedged item affects earnings. We use the critical terms and the quantitative long-haul methods to assess hedge effectiveness and monitor, at least quarterly, any change in effectiveness. We have cross-currency swap contracts designated as cash flow hedges to reduce our exposure to the foreign currency exchange risk associated with certain intercompany loans. Under the terms of these contracts, we make interest payments in euros and receive interest in U.S. dollars. Upon the maturities of these contracts, we will pay the principal amount of the loans in euros and receive U.S. dollars from our counterparties. We enter into forward-starting interest rate contracts to mitigate the risk of adverse changes in benchmark interest rates on future anticipated debt issuances. We also execute commodity futures, options and swaps to manage the volatility of the commodity price related to anticipated purchases of raw materials and product sales. We enter into over-the-counter commodity swaps and options with one or more counterparties whereby we pay a predetermined fixed price and receive a price based on the average monthly rate of a specified index for the specified nominated volumes. Fair Value Hedges —We use interest rate swaps as part of our current interest rate risk management strategy to achieve a desired proportion of variable versus fixed rate debt. Under these arrangements, we exchange fixed-rate for floating-rate interest payments to effectively convert our fixed-rate debt to floating-rate debt. For derivatives that have been designated as fair value hedges, the gains and losses of the derivatives and hedged items are recorded in earnings. We use the long-haul method to assess hedge effectiveness using a regression analysis approach at least quarterly. We perform the regression analysis over an observation period of three years, utilizing data that is relevant to the hedge duration.
Fair Value Measurements	Fair Value Measurements We categorize assets and liabilities, measured at fair value, into one of three different levels depending on the observability of the inputs employed in the measurement. Level 1 inputs are quoted prices for identical instruments in active markets. Level 2 inputs are quoted prices for similar instruments in active markets; quoted prices for identical or similar instruments in markets that are not active; and model-derived valuations in which all significant inputs or significant value-drivers are observable. Level 3 inputs are model-derived valuations in which one or more significant inputs or significant value-drivers are unobservable. Fair value measurements are classified according to the lowest level input or value-driver that is significant to the valuation. A measurement may therefore be classified within Level 3 even though there may be significant inputs that are readily observable. Changes in Fair Value Levels —Management reviews the disclosures regarding fair value measurements at least quarterly. If an instrument classified as Level 1 subsequently ceases to be actively traded, it is transferred out of Level 1. In such cases, instruments are reclassified as Level 2, unless the measurement of its fair value requires the use of significant unobservable inputs, in which case it is reclassified as Level 3. We use the following inputs and valuation techniques to estimate the fair value of our financial instruments disclosed in Note 13 to the Consolidated Financial Statements. Cross-Currency Swaps —The fair value of our cross-currency swaps is calculated using the present value of future cash flows discounted using observable inputs such as known notional value amounts, yield curves, basis curves, as applicable, and with the foreign currency leg revalued using published spot and forward exchange rates on the valuation date. Forward-Starting and Fixed-for-Floating Interest Rate Swaps —The fair value of our forward-starting and fixed-for-floating interest rate swaps is calculated using the present value of future cash flows using observable inputs such as benchmark interest rates and market yield curves. Commodity Derivatives —The fair values of our commodity derivatives are measured using closing market prices of public exchanges and from third-party broker quotes and pricing providers. The fair value of our commodity swaps classified as Level 2 is determined using a combination of observable and unobservable inputs. The observable inputs consist of future market values of various crude and heavy fuel oils, which are readily available through public data sources. The unobservable input, which is the estimated discount or premium used in the market pricing, is calculated using an internally-developed, multi-linear regression model based on the observable prices of the known components and their relationships to historical prices. A significant change in this unobservable input would not have a material impact on the fair value measurement of our Level 2 commodity swaps. Forward Exchange Contracts —The fair value of our forward exchange contracts is based on forward market rates. Equity Securities— The fair value of our investment in equity securities is based on the net asset value provided by the fund administrator. Short-Term Debt —The fair value of short-term borrowings related to precious metal financing arrangements, accounted for as embedded derivatives, is determined based on the future price of the associated precious metal. Long-Term Debt —The fair value of our senior and guaranteed notes is calculated using pricing data obtained from well-established and recognized vendors of market data for debt valuations. Fair Value Measurements - Pension Assets We use the following inputs and valuation techniques to estimate the fair value of our pension assets disclosed in Note 14 to the Consolidated Financial Statements. Common and Preferred Stock— Valued at the closing price reported on the market on which the individual securities are traded. Fixed Income Securities— Certain securities that are not traded on an exchange are valued at the closing price reported by pricing services. Other securities are valued based on yields currently available on comparable securities of issuers with similar credit ratings. Commingled Funds— Valued based upon the net asset value of units of such commingled trust funds held at year end by the pension plans. Unit values are based on the fair value of the underlying assets of the fund derived from inputs principally from, or corroborated by, observable market data by correlation or other means. Real Estate— Valued based upon the net asset value of units of the real estate fund or partnership held by the master trust at year end. Hedge Funds— Valued based upon the unit values of such alternative investments held at year end by the pension plans. Unit values are based on the fair value of the underlying assets of the fund. Private Equity— Valued based upon the unit values of such alternative investments held at year end by the pension plans. Unit values are based on the fair value of the underlying assets of the fund. Certain securities held in the fund are valued at the closing price reported on an exchange or other established quotation service for over-the-counter securities. Other assets held in the fund are valued based on the most recent financial statements prepared by the fund manager. Convertible Securities— Valued at the quoted prices for similar assets or liabilities in active markets. U.S. Government Securities— Certain securities, including Separate Trading of Registered Interest and Principal of Securities, are valued at the closing price reported on the active market on which the individual securities are traded. Cash and Cash Equivalents— Valued at the quoted prices for identical assets or liabilities in active markets. Non-U.S. Insurance Arrangements —Valued based upon the estimated cash surrender value of the underlying insurance contract, which is derived from an actuarial determination of the discounted benefits cash flows.
Pension Plans	Pension Plans— We have funded and unfunded defined benefit plans and defined contribution plans. For the defined benefit plans, a projected benefit obligation is calculated annually by independent actuaries using the projected unit credit method. Pension costs primarily represent the increase in the actuarial present value of the obligation for pension benefits based on employee service during the year and the interest on this obligation in respect of employee service in previous years, net of expected return on plan assets. Actuarial gains and losses arising from experience adjustments and changes in actuarial assumptions are charged or credited to equity and are reflected in Accumulated other comprehensive income (loss) in the period in which they arise.
Other Post-Employment Obligations	Other Post-Employment Obligations— Certain employees are entitled to post-retirement medical benefits upon retirement. The entitlement to these benefits is usually conditional on the employee remaining in service up to retirement age and the completion of a minimum service period. The expected costs of these benefits are accrued over the period of employment applying the same accounting methodology used for defined benefit plans.
Termination Benefits	Termination Benefits— Contractual termination benefits are payable when employment is terminated due to an event specified in the provisions of a social/labor plan or statutory law. A liability is recognized for one-time termination benefits when we are committed to (i) make payments and the number of affected employees and the benefits to be received are known to both parties, and (ii) terminating the employment of current employees according to a detailed formal plan without possibility of withdrawal and can reasonably estimate such amount. Benefits falling due more than 12 months after the balance sheet date are discounted to present value.
Use of Estimates	Use of Estimates The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenues and expenses during the reporting periods. Actual results could differ from those estimates.
Supply Chain Finance Arrangements	Supply Chain Finance Arrangements We facilitate a voluntary supply chain finance program that provides suppliers, at their sole discretion, the opportunity to sell their receivables due from us to a participating financial intermediary in order to be paid earlier than our contracted payment terms. We are not a party to any agreement between our suppliers and the financial intermediary. When a supplier utilizes the program and receives an early payment from the financial intermediary, the supplier takes a discount on the invoice. We pay the financial intermediary the full amount of the invoice on the contractually agreed upon due date. The majority of the suppliers using the program are on 90-day payment terms. There is no economic impact to the Company from a supplier’s decision to take an early payment. No guarantees are provided by us or any of our subsidiaries under the program.
Recently Adopted Guidance and Accounting Guidance Issued But Not Adopted	Recently Adopted Guidance Segment Disclosures —In November 2023, the FASB issued ASU 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures . The guidance improves the disclosures about a public entity’s reportable segments and addresses requests from investors for additional, detailed information about a reportable segment’s expenses. The guidance is effective for fiscal years beginning after December 15, 2023 and interim periods within fiscal years beginning after December 15, 2024. The adoption of this ASU at December 31, 2024 did not have a material impact on the Consolidated Financial Statements. Accounting Guidance Issued But Not Adopted as of December 31, 2024 Expense Disaggregation Disclosures —In November 2024, the FASB issued ASU 2024-03, Income Statement - Reporting Comprehensive Income - Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses. This guidance requires incremental disclosures about specific expense categories, including but not limited to, purchases of inventory, employee compensation, depreciation, amortization and selling expenses. The amendments are effective for fiscal years beginning after December 15, 2026, and for interim periods within fiscal years beginning after December 15, 2027. Early adoption is permitted, and the amendments may be applied either prospectively or retrospectively. The adoption of this ASU will not have a material impact on our Consolidated Financial Statements as the guidance relates only to disclosure. Income Tax Disclosures —In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures. The guidance requires companies to disclose certain specific categories in the rate reconciliation and provide additional information for reconciling items that meet the quantitative threshold of 5% of the expected tax using the applicable statutory income tax rate. There is also a required disclosure to provide the net income taxes paid or received disaggregated by federal, state, and foreign taxes with jurisdictions to be separately disclosed if the jurisdiction is 5% or more of the total net income taxes paid or received. The guidance is effective for annual periods beginning after December 15, 2024. Earlier adoption is permitted. We intend to adopt the new guidance to our Income Tax Disclosures in 2025, when effective. There is no material impact on our Consolidated Financial Statements.

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Tables)	12 Months Ended
	Dec. 31, 2024
Accounting Policies [Abstract]
Supplier Finance Program	The following table summarizes the activity in our supply chain financing program included in Accounts Payable-Trade Year Ended December 31, Millions of dollars 2024 Confirmed obligations outstanding at the beginning of the year $ 65 Invoices confirmed during the year 767 Confirmed invoices paid during the year (691) Confirmed obligations outstanding at the end of the year $ 141

Revenues (Tables)

Revenues (Tables)	12 Months Ended
	Dec. 31, 2024
Revenue from Contract with Customer [Abstract]
Disaggregation of revenue	Revenues disaggregated by key products are summarized below: Year Ended December 31, Millions of dollars 2024 2023 2022 Sales and other operating revenues: Olefins and co-products $ 3,889 $ 3,508 $ 4,782 Polyethylene 7,583 7,587 9,694 Polypropylene 6,287 5,642 7,458 Propylene oxide and derivatives 2,357 2,287 3,097 Oxyfuels and related products 5,074 5,640 5,482 Intermediate chemicals 2,693 2,864 4,012 Compounding and solutions 3,616 3,686 4,197 Refined products 8,080 9,179 10,975 Other 723 714 754 Total $ 40,302 $ 41,107 $ 50,451 The following table presents our revenues disaggregated by geography, based upon the location of the customer: Year Ended December 31, Millions of dollars 2024 2023 2022 Sales and other operating revenues: United States $ 19,467 $ 20,003 $ 24,789 Germany 2,410 2,547 3,555 China 2,375 2,164 2,533 Mexico 1,757 1,642 2,042 Italy 1,418 1,365 1,737 Japan 1,338 1,749 1,954 France 1,069 1,091 1,366 Poland 923 905 1,271 The Netherlands 724 805 1,178 Other 8,821 8,836 10,026 Total $ 40,302 $ 41,107 $ 50,451

Related Party Transactions (Tab

Related Party Transactions (Tables)	12 Months Ended
	Dec. 31, 2024
Related Party Transactions [Abstract]
Summary of related party transactions	These transactions are summarized as follows: Year Ended December 31, Millions of dollars 2024 2023 2022 The Company billed related parties for: Sales of products $ 634 $ 614 $ 1,012 Shared service agreements 10 4 2 Total $ 644 $ 618 $ 1,014 Related parties billed the Company for: Sales of products $ 3,899 $ 3,673 $ 4,837 Shared service agreements 40 79 94 Total $ 3,939 $ 3,752 $ 4,931

Inventories (Tables)

Inventories (Tables)	12 Months Ended
	Dec. 31, 2024
Inventory Disclosure [Abstract]
Schedule of Inventory	Inventories consisted of the following components at December 31: Millions of dollars 2024 2023 Finished goods $ 3,014 $ 3,134 Work-in-process 145 182 Raw materials and supplies 1,499 1,449 Total inventories $ 4,658 $ 4,765

Property, Plant and Equipment_2

Property, Plant and Equipment, Goodwill and Intangible Assets (Tables)	12 Months Ended
	Dec. 31, 2024
Property, Plant and Equipment, Goodwill and Intangible Assets [Abstract]
Components of property, plant and equipment, at cost, and the related accumulated depreciation	Property, Plant and Equipment —The components of property, plant and equipment, at cost, and the related accumulated depreciation are as follows at December 31: Millions of dollars Estimated Useful Life (years) 2024 2023 Land $ 280 $ 327 Major manufacturing equipment 25 14,303 14,875 Buildings 30 2,508 2,513 Light equipment and instrumentation 5 - 20 3,471 3,793 Office furniture 15 21 21 Major turnarounds 4 - 7 1,803 1,888 Information system equipment 3 - 5 70 67 Construction in progress 1,718 1,422 Total property, plant and equipment 24,174 24,906 Less accumulated depreciation (9,108) (9,359) Property, plant and equipment, net $ 15,066 $ 15,547
Components of intangible assets, at cost, and the related amortization	Intangible Assets —The components of identifiable intangible assets, at cost, and the related accumulated amortization are as follows at December 31: 2024 2023 Millions of dollars Cost Accumulated Net Cost Accumulated Net Emission allowances $ 744 $ (525) $ 219 $ 760 $ (514) $ 246 Customer relationships 309 (125) 184 317 (108) 209 Software costs 188 (86) 102 161 (63) 98 Other 728 (656) 72 736 (648) 88 Total intangible assets $ 1,969 $ (1,392) $ 577 $ 1,974 $ (1,333) $ 641
Depreciation and amortization by major asset class	Depreciation and Amortization Expense —Depreciation and amortization expense is summarized as follows: Year Ended December 31, Millions of dollars 2024 2023 2022 Property, plant and equipment $ 1,323 $ 1,303 $ 1,033 PO Joint Ventures and Louisiana Joint Venture 118 148 155 Emission allowances 8 8 8 Customer relationships 21 20 19 Software costs 23 17 14 Other 29 38 38 Total depreciation and amortization $ 1,522 $ 1,534 $ 1,267
Changes in asset retirement obligations	The changes in our asset retirement obligations are as follows: Year Ended December 31, Millions of dollars 2024 2023 Beginning balance $ 311 $ 305 Liabilities settled (6) (5) Changes in estimates 3 — Accretion expense 9 10 Effects of exchange rate changes (2) 1 Ending balance $ 315 $ 311
Schedule of goodwill	Goodwill —The changes in the carrying amount of goodwill in each of the Company’s reportable segments for the years ended December 31, 2024 and 2023 were as follows: Millions of dollars O&P - O&P - I&D APS Technology Total December 31, 2022 $ 162 $ 86 $ 201 $ 1,370 $ 8 $ 1,827 Reallocation of goodwill 315 269 — (584) — — Acquisitions — — — 31 — 31 Assets held for sale — — (14) — — (14) Impairment charge — — — (252) — (252) Foreign currency translation adjustments — 25 28 2 — 55 December 31, 2023 477 380 215 567 8 1,647 Foreign currency translation adjustments (5) (25) (6) (50) — (86) December 31, 2024 $ 472 $ 355 $ 209 $ 517 $ 8 $ 1,561

Equity Investments (Tables)

Equity Investments (Tables)	12 Months Ended
	Dec. 31, 2024
Equity Method Investments and Joint Ventures [Abstract]
Schedule of equity method investments	Our principal equity investments are as follows at December 31: Percent of Ownership 2024 2023 Olefins and Polyolefins-Americas Louisiana Joint Venture 50.00 % 50.00 % Indelpro S.A. de C.V. 49.00 % 49.00 % Olefins and Polyolefins-Europe, Asia, International Basell Orlen Polyolefins Sp. Z.o.o. 50.00 % 50.00 % PolyMirae Co. Ltd. 50.00 % 50.00 % Bora LyondellBasell Petrochemical Co. Ltd. 50.00 % 50.00 % National Petrochemical Industrial Company 35.00 % — % HMC Polymers Company Ltd. 28.56 % 28.56 % Al-Waha Petrochemicals Ltd. 25.00 % 25.00 % Saudi Ethylene & Polyethylene Company Ltd. 25.00 % 25.00 % Saudi Polyolefins Company 25.00 % 25.00 % Intermediates and Derivatives U.S. PO Joint Venture 60.62 % 60.62 % European PO JV 50.00 % 50.00 % Ningbo ZRCC Lyondell Chemical Co. Ltd. 26.65 % 26.65 %
Schedule of changes in equity investments	The following table summarizes changes in our equity investments: Year Ended December 31, Millions of dollars 2024 2023 Beginning balance $ 3,907 $ 4,295 Capital contributions 113 54 Loss from equity investments (217) (20) Acquisition of equity investments 551 102 Distribution of earnings, net of tax (122) (169) Depreciation of PO Joint Ventures and Louisiana Joint Venture (118) (148) Impairments (13) (192) Currency exchange effects (26) 9 Other 46 (24) Ending balance $ 4,121 $ 3,907
Schedule of balance sheet information of equity investments	Summarized balance sheet information of our investments accounted for under the equity method (presented on a 100% basis) at December 31 are as follows: Millions of dollars 2024 2023 Current assets $ 3,230 $ 3,622 Noncurrent assets 8,517 10,810 Total assets 11,747 14,432 Current liabilities 1,637 2,903 Noncurrent liabilities 1,064 2,300 Net assets $ 9,046 $ 9,229
Schedule of income statement information of equity method investments	Summarized income statement information of our investments accounted for under the equity method (presented on a 100% basis) are as follows: Year Ended December 31, Millions of dollars 2024 2023 2022 Revenues $ 13,113 $ 12,540 $ 15,435 Cost of sales (12,669) (12,044) (14,900) Gross profit 444 496 535 Net operating expenses (614) (514) (519) Operating (loss) income (170) (18) 16 Interest income 26 23 7 Interest expense (148) (131) (24) Foreign currency translation (17) (1) (1) Other expense, net (3) (23) (26) Loss before income taxes (312) (150) (28) (Provision for) benefit from income taxes (252) 22 (1) Net loss $ (564) $ (128) $ (29)

Prepaid Expenses, Other Curre_2

Prepaid Expenses, Other Current Assets and Other Assets (Tables)	12 Months Ended
	Dec. 31, 2024
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Schedule of prepaid expenses, other current assets and other assets disclosure	The components of Prepaid expenses and other current assets were as follows at December 31: Millions of dollars 2024 2023 Assets held for sale $ — $ 444 Income tax receivable 79 268 VAT receivables 179 214 Financial derivatives 210 184 Renewable identification numbers 127 113 Advances to suppliers 83 90 Prepaid insurance 36 36 Other 214 126 Total prepaid expenses and other current assets $ 928 $ 1,475 The components of Other assets were as follows at December 31: Millions of dollars 2024 2023 Deferred tax assets $ 259 $ 196 Company-owned life insurance 46 48 Financial derivatives 75 45 Pension assets 56 39 Other 252 249 Total other assets $ 688 $ 577

Accrued and Other Current Lia_2

Accrued and Other Current Liabilities (Tables)	12 Months Ended
	Dec. 31, 2024
Payables and Accruals [Abstract]
Schedule of accrued liabilities	Accrued and other current liabilities consisted of the following components at December 31: Millions of dollars 2024 2023 Payroll and benefits $ 517 $ 497 Operating lease liabilities 355 360 Renewable identification numbers 132 220 Financial derivatives 71 242 Taxes other than income taxes 199 183 Contract liabilities 110 175 Income taxes 311 143 Product sales rebates 132 140 Interest 127 123 Liabilities held for sale — 120 Asset Retirement Obligations 113 1 Other 289 232 Total accrued and other current liabilities $ 2,356 $ 2,436

Debt (Tables)

Debt (Tables)	12 Months Ended
	Dec. 31, 2024
Debt Disclosure [Abstract]
Schedule of long-term debt	Long-term loans, notes and other debt, net of unamortized discount, debt issuance cost and cumulative fair value hedging adjustments, consisted of the following at December 31: Millions of dollars 2024 2023 Senior Notes due 2024, $1,000 million, 5.75% $ — $ 775 Senior Notes due 2055, $1,000 million, 4.625% ($15 million of discount; $10 million of debt issuance cost) 975 975 Guaranteed Notes due 2027, $300 million, 8.1% 300 300 Issued by LYB International Finance B.V.: Guaranteed Notes due 2043, $750 million, 5.25% ($18 million of discount; $6 million of debt issuance cost) 726 726 Guaranteed Notes due 2044, $1,000 million, 4.875% ($9 million of discount; $8 million of debt issuance cost) 983 982 Issued by LYB International Finance II B.V.: Guaranteed Notes due 2026, €500 million, 0.875% ($1 million of debt issuance cost) 515 542 Guaranteed Notes due 2027, $1,000 million, 3.5% ($2 million of discount; $1 million of debt issuance cost) 584 585 Guaranteed Notes due 2031, €500 million, 1.625% ($3 million of discount; $2 million of debt issuance cost) 514 542 Issued by LYB International Finance III, LLC: Guaranteed Notes due 2025, $500 million, 1.25% ($1 million of debt issuance cost) 487 481 Guaranteed Notes due 2030, $500 million, 3.375% ($1 million of debt issuance cost) 123 124 Guaranteed Notes due 2030, $500 million, 2.25% ($2 million of discount; $3 million of debt issuance cost) 473 474 Guaranteed Notes due 2033, $500 million, 5.625% ($5 million of debt issuance cost) 495 495 Guaranteed Notes due 2034, $750 million, 5.5% ($5 million of discount, $7 million of debt issuance cost) 738 — Guaranteed Notes due 2040, $750 million, 3.375% ($1 million of discount; $7 million of debt issuance cost) 742 742 Guaranteed Notes due 2049, $1,000 million, 4.2% ($14 million of discount; $10 million of debt issuance cost) 976 976 Guaranteed Notes due 2050, $1,000 million, 4.2% ($6 million of discount; $10 million of debt issuance cost) 982 975 Guaranteed Notes due 2051, $1,000 million, 3.625% ($2 million of discount; $10 million of debt issuance cost) 918 916 Guaranteed Notes due 2060, $500 million, 3.8% ($4 million of discount; $5 million of debt issuance cost) 482 483 Other 17 22 Total 11,030 11,115 Less current maturities (498 ) (782 ) Long-term debt $ 10,532 $ 10,333 Fair value hedging adjustments associated with the fair value hedge accounting of our fixed-for-floating interest rate swaps for the applicable periods are as follows: Millions of dollars Gains (Losses) Cumulative Fair Value Hedging Adjustments Included in Carrying Amount of Debt Year Ended December 31, December 31, 2024 2023 2024 2023 Guaranteed Notes due 2025, 1.25% $ (5) $ (5) $ 4 $ 9 Guaranteed Notes due 2026, 0.875% (4) (5) 4 8 Guaranteed Notes due 2027, 3.5% 3 2 5 2 Guaranteed Notes due 2030, 3.375% 1 (4) 18 17 Guaranteed Notes due 2030, 2.25% 1 (4) 21 20 Guaranteed Notes due 2031, 1.625% (2) (8) 1 3 Guaranteed Notes due 2050, 4.2% (7) (4) 2 9 Guaranteed Notes due 2051, 3.625% (2) (18) 70 72 Guaranteed Notes due 2060, 3.8% 2 (2) 9 7 Total $ (13) $ (48) $ 134 $ 147

Leases (Tables)

Leases (Tables)	12 Months Ended
	Dec. 31, 2024
Leases [Abstract]
Maturities of operating lease liabilities	Maturities of operating lease liabilities as of December 31, 2024, are as follows: Millions of dollars 2025 $ 410 2026 337 2027 286 2028 199 2029 117 Thereafter 818 Total lease payments 2,167 Less: Imputed interest (393) Present value of lease liabilities $ 1,774

Financial Instruments and Fai_2

Financial Instruments and Fair Value Measurements (Tables)	12 Months Ended
	Dec. 31, 2024
Financial Instruments and Fair Value Measurements [Abstract]
Summary of fair value of outstanding financial instruments	Financial Instruments Measured at Fair Value on a Recurring Basis —The following table summarizes financial instruments outstanding for the periods presented that are measured at fair value on a recurring basis: Fair Value Millions of dollars December 31, 2024 December 31, 2023 Balance Sheet Classification Assets— Derivatives designated as hedges: Commodities $ 14 $ 1 Prepaid expenses and other current assets Commodities 7 — Other assets Foreign currency 146 44 Prepaid expenses and other current assets Foreign currency 66 45 Other assets Interest rates 16 38 Prepaid expenses and other current assets Derivatives not designated as hedges: Commodities 18 98 Prepaid expenses and other current assets Commodities 2 — Other assets Foreign currency 16 3 Prepaid expenses and other current assets Total $ 285 $ 229 Liabilities— Derivatives designated as hedges: Commodities $ 14 $ 109 Accrued and other current liabilities Commodities 5 33 Other liabilities Foreign currency 9 40 Accrued and other current liabilities Foreign currency — 32 Other liabilities Interest rates 36 31 Accrued and other current liabilities Interest rates 146 172 Other liabilities Derivatives not designated as hedges: Commodities 11 52 Accrued and other current liabilities Foreign currency 1 10 Accrued and other current liabilities Total $ 222 $ 479
Summary of the carrying value and estimated fair value of non-derivative financial instruments	Financial Instruments Not Measured at Fair Value on a Recurring Basis —The following table presents the carrying value and estimated fair value of our Short-term precious metal financings and Long-term debt: December 31, 2024 December 31, 2023 Carrying Fair Carrying Fair Millions of dollars Precious metal financings $ 119 $ 122 $ 117 $ 114 Long-term debt 10,521 9,048 10,316 9,225 Total $ 10,640 $ 9,170 $ 10,433 $ 9,339
Summary of commodity derivatives	The following table presents the notional amounts of our outstanding commodity derivative instruments: Notional Amount Millions of units December 31, 2024 December 31, 2023 Unit of Measure Maturity Date Derivatives designated as hedges: Natural gas 62 72 MMBtu 2025 to 2027 Ethane 14 18 Bbl 2025 to 2026 Power — 1 MWhs 2025 to 2027 Refined products — 1 Bbl 2025 Derivatives not designated as hedges: Crude oil — 12 Bbl 2025 Refined products 6 16 Bbl 2025 to 2026 Precious metals — 1 Troy Ounces 2025 Renewable Identification Numbers — 59 RINs N/A
Summary of interest rate derivatives	The following table presents the notional amounts of our outstanding interest rate derivative instruments: Notional Amount Millions of dollars December 31, 2024 December 31, 2023 Maturity Date Cash flow hedges $ — $ 200 N/A Fair value hedges 2,158 2,171 2025 to 2031
Summary of foreign currency derivatives	The following table presents the notional amounts of our outstanding foreign currency derivative instruments: Notional Amount Millions of dollars December 31, 2024 December 31, 2023 Maturity Date Net investment hedges $ 3,256 $ 3,289 2025 to 2030 Cash flow hedges 300 1,150 2027 Not designated 772 555 2025
Summary of the impact of financial instruments on earnings and other comprehensive income	Impact on Earnings and Other Comprehensive Income (loss)— The following tables summarize the pre-tax effect of derivative and non-derivative instruments recorded in Accumulated other comprehensive loss (“AOCI”), the gains (losses) reclassified from AOCI to earnings and additional gains (losses) recognized directly in earnings: Effect of Derivative Instruments Year Ended December 31, 2024 Balance Sheet Income Statement Millions of dollars Gain (Loss) Gain (Loss) Additional Income Statement Derivatives designated as hedges: Commodities $ (2) $ 4 $ — Sales and other operating revenues Commodities 11 129 — Cost of sales Foreign currency 206 (35) 59 Interest expense Interest rates 11 4 (64) Interest expense Derivatives not designated as hedges: Commodities — — (21) Sales and other operating revenues Commodities — — 53 Cost of sales Foreign currency — — 43 Other income (expense), net Total $ 226 $ 102 $ 70 Year Ended December 31, 2023 Balance Sheet Income Statement Millions of dollars Gain (Loss) Gain (Loss) Additional Income Statement Derivatives designated as hedges: Commodities $ (2) $ — $ — Sales and other operating revenues Commodities (157) 33 — Cost of sales Foreign currency (142) 31 70 Interest expense Interest rates 17 5 (20) Interest expense Derivatives not designated as hedges: Commodities — — 188 Sales and other operating revenues Commodities — — (130) Cost of sales Foreign currency — — (29) Other income (expense), net Total $ (284) $ 69 $ 79 Year Ended December 31, 2022 Balance Sheet Income Statement Millions of dollars Gain (Loss) Gain (Loss) Additional Income Statement Derivatives designated as hedges: Commodities $ 21 $ (59) $ — Cost of sales Foreign currency 308 (75) 69 Interest expense Interest rates 296 6 (227) Interest expense Derivatives not designated as hedges: Commodities — — 72 Sales and other operating revenues Commodities — — (22) Cost of sales Foreign currency — — (60) Other income (expense), net Total $ 625 $ (128) $ (168)

Pension and Other Post-retire_2

Pension and Other Post-retirement Benefits (Tables)	12 Months Ended
	Dec. 31, 2024
Retirement Benefits [Abstract]
Reconciliation of projected benefit obligations, schedule of plan assets and the funded status of defined benefit and other postretirement benefit plans	Pension Benefits —The following tables provide a reconciliation of projected benefit obligations, plan assets and the funded status of our U.S. and non-U.S. defined benefit pension plans: Year Ended December 31, 2024 2023 Millions of dollars U.S. Non-U.S. U.S. Non-U.S. Change in benefit obligation: Benefit obligation, beginning of period $ 1,155 $ 1,363 $ 1,140 $ 1,276 Service cost 52 21 51 22 Interest cost 62 52 57 51 Actuarial loss (gain) 60 88 (13) 19 Benefits paid (97) (59) (80) (53) Participant contributions — 2 — 2 Settlement — (3) — (1) Foreign exchange effects — (75) — 47 Benefit obligation, end of period 1,232 1,389 1,155 1,363 Change in plan assets: Fair value of plan assets, beginning of period 960 705 1,021 733 Actual return on plan assets 130 112 10 (53) Company contributions 43 51 9 51 Benefits paid (97) (59) (80) (53) Participant contributions — 2 — 2 Settlement — (3) — (1) Foreign exchange effects — (38) — 26 Fair value of plan assets, end of period 1,036 770 960 705 Funded status of continuing operations, end of period $ (196) $ (619) $ (195) $ (658) The following tables provide a reconciliation of benefit obligations of our unfunded other post-retirement benefit plans: Year Ended December 31, 2024 2023 Millions of dollars U.S. Non-U.S. U.S. Non-U.S. Change in benefit obligation: Benefit obligation, beginning of period $ 142 $ 39 $ 153 $ 41 Service cost — 1 1 1 Interest cost 8 2 7 2 Actuarial loss (gain) 8 15 — (4) Benefits paid (24) (1) (25) (1) Participant contributions 5 — 6 — Foreign exchange effects — (4) — — Benefit obligation, end of period 139 52 142 39 Change in plan assets: Fair value of plan assets, beginning of period — — — — Employer contributions 19 1 19 1 Participant contributions 5 — 6 — Benefits paid (24) (1) (25) (1) Fair value of plan assets, end of period — — — — Funded status, end of period $ (139) $ (52) $ (142) $ (39)
Schedule of amounts recognized in the consolidated balance sheets	Amounts recognized in the Consolidated Balance Sheets consists of the following: December 31, 2024 December 31, 2023 Millions of dollars U.S. Non-U.S. U.S. Non-U.S. Prepaid benefit cost, long-term $ — $ 56 $ — $ 39 Accrued benefit liability, current — (30) — (30) Accrued benefit liability, long-term (196) (645) (195) (667) Funded status of continuing operations, end of period $ (196) $ (619) $ (195) $ (658) Amounts recognized in the Consolidated Balance Sheets are as follows: December 31, 2024 December 31, 2023 Millions of dollars U.S. Non-U.S. U.S. Non-U.S. Accrued benefit liability, current $ (13) $ (1) $ (14) $ (1) Accrued benefit liability, long-term (126) (51) (128) (38) Funded status, end of period $ (139) $ (52) $ (142) $ (39)
Schedule of amounts recognized in accumulated other comprehensive income (loss)	Amounts recognized in Accumulated other comprehensive loss include the following: December 31, 2024 December 31, 2023 Millions of dollars U.S. Non-U.S. U.S. Non-U.S. Actuarial and investment loss $ 276 $ 94 $ 303 $ 140 Prior service cost — 23 — 27 Balance, end of period $ 276 $ 117 $ 303 $ 167 Amounts recognized in Accumulated other comprehensive loss are as follows: December 31, 2024 December 31, 2023 Millions of dollars U.S. Non-U.S. U.S. Non-U.S. Actuarial and investment income $ 61 $ 8 $ 79 $ 21 Prior service cost — (1) — (1) Balance, end of period $ 61 $ 7 $ 79 $ 20
Schedule of accumulated benefit obligations for defined benefit plans	The following additional information is presented for our U.S. and non-U.S. pension plans: December 31, 2024 December 31, 2023 Millions of dollars U.S. Non-U.S. U.S. Non-U.S. Accumulated benefit obligation for defined benefit plans $ 1,204 $ 1,268 $ 1,129 $ 1,252
Schedule of projected benefit obligations in excess of the fair value of assets	Pension plans with projected benefit obligations in excess of the fair value of assets are summarized as follows: December 31, 2024 December 31, 2023 Millions of dollars U.S. Non-U.S. U.S. Non-U.S. Projected benefit obligations $ 1,232 $ 793 $ 1,155 $ 839 Fair value of assets 1,036 118 960 142
Schedule of accumulated benefit obligations in excess of the fair value of assets	Pension plans with accumulated benefit obligations in excess of the fair value of assets are summarized as follows: December 31, 2024 December 31, 2023 Millions of dollars U.S. Non-U.S. U.S. Non-U.S. Accumulated benefit obligations $ 1,201 $ 593 $ 1,129 $ 718 Fair value of assets 1,033 8 960 109
Schedule of the components of net periodic costs	Components of net periodic pension costs for our U.S. and non-U.S. plans are as follows: U.S. Plans Year Ended December 31, Millions of dollars 2024 2023 2022 Service cost $ 52 $ 51 $ 48 Interest cost 62 57 48 Expected return on plan assets (65) (69) (97) Settlement loss — — 103 Actuarial loss amortization 20 18 20 Net periodic benefit cost $ 69 $ 57 $ 122 Non-U.S. Plans Year Ended December 31, Millions of dollars 2024 2023 2022 Service cost $ 21 $ 22 $ 35 Interest cost 52 51 26 Expected return on plan assets (28) (28) (18) Prior service cost amortization 3 3 3 Actuarial loss (gain) amortization 5 (1) 7 Net periodic benefit cost $ 53 $ 47 $ 53 The components of net periodic other post-retirement costs are as follows: U.S. Plans Year Ended December 31, Millions of dollars 2024 2023 2022 Service cost $ — $ 1 $ 1 Interest cost 8 7 5 Actuarial gain amortization (9) (10) (5) Net periodic benefit (income) cost $ (1) $ (2) $ 1 Non-U.S. Plans Year Ended December 31, Millions of dollars 2024 2023 2022 Service cost $ 1 $ 1 $ 2 Interest cost 2 2 1 Actuarial gain amortization (1) (1) — Net periodic benefit cost $ 2 $ 2 $ 3
Schedule of actual and target allocation of plan assets	The actual and target asset allocations for our plans are as follows: 2024 2023 Actual Target Actual Target Canada Fixed income 100 % 100 % 100 % 100 % United Kingdom—Lyondell Chemical Plans Equity securities 25 % 25 % 39 % 38 % Fixed income 75 % 75 % 61 % 62 % United Kingdom—Basell Plans Equity securities 25 % 25 % 26 % 25 % Fixed income 75 % 75 % 74 % 75 % United Kingdom—A. Schulman Plans Equity securities and growth assets 26 % 25 % 27 % 25 % Fixed income and matching assets 74 % 75 % 73 % 75 % United States Equity securities 39 % 40 % 40 % 40 % Fixed income 48 % 45 % 41 % 45 % Alternatives 13 % 15 % 19 % 15 %
Schedule of future expected benefit payments	As of December 31, 2024, future expected benefit payments by our pension plans which reflect expected future service, as appropriate, are as follows: Millions of dollars U.S. Non-U.S. 2025 $ 165 $ 63 2026 97 65 2027 98 65 2028 100 66 2029 100 69 2030 through 2034 506 364 As of December 31, 2024, future expected benefit payments by our other post-retirement benefit plans, which reflect expected future service, as appropriate, were as follows: Millions of dollars U.S. Non-U.S. 2025 $ 13 $ 1 2026 14 1 2027 13 1 2028 13 1 2029 13 2 2030 through 2034 56 9
Schedule of assumptions used	The weighted average assumptions used in determining the net benefit liabilities for our pension plans were as follows at December 31: 2024 2023 U.S. Non-U.S. U.S. Non-U.S. Discount rate 5.35 % 3.66 % 5.80 % 4.00 % Rate of compensation increase 4.66 % 3.36 % 4.68 % 3.58 % Cash balance interest credit rate 4.36 % — % 4.54 % — % The weighted average assumptions used in determining net benefit costs for our pension plans were as follows: Year Ended December 31, 2024 2023 2022 U.S. Non-U.S. U.S. Non-U.S. U.S. Non-U.S. Discount rate 5.80 % 4.00 % 5.50 % 3.99 % 2.80 % 1.45 % Expected return on plan assets 7.25 % 4.14 % 7.25 % 3.57 % 7.25 % 1.85 % Rate of compensation increase 4.68 % 3.58 % 4.65 % 2.66 % 4.74 % 2.64 % The following tables set forth the assumed health care cost trend rates for our U.S. and Non-U.S. Plans: U.S. Plans December 31, 2024 2023 Immediate trend rate 6.5 % 6.3 % Ultimate trend rate (the rate to which the cost trend rate is assumed to decline) 4.5 % 4.5 % Year that the rate reaches the ultimate trend rate 2033 2031 Non-U.S. Plans Canada France December 31, December 31, 2024 2023 2024 2023 Immediate trend rate 4.5 % 4.5 % 5.0 % 4.8 % Ultimate trend rate (the rate to which the cost trend rate is assumed to decline) 4.5 % 4.5 % 5.0 % 4.8 % Year that the rate reaches the ultimate trend rate — — — — The weighted average assumptions used in determining the net benefit liabilities for our other post-retirement benefit plans were as follows: December 31, 2024 2023 U.S. Non-U.S. U.S. Non-U.S. Discount rate 5.24 % 3.53 % 5.74 % 4.36 % Rate of compensation increase 4.09 % — 4.13 % — The weighted average assumptions used in determining the net benefit costs for our other post-retirement benefit plans were as follows: Year Ended December 31, 2024 2023 2022 U.S. Non-U.S. U.S. Non-U.S. U.S. Non-U.S. Discount rate 5.74 % 4.36 % 5.44 % 3.95 % 2.75 % 1.47 % Rate of compensation increase 4.13 % — 4.16 % — 4.18 % —
Schedule of pension investments measured at fair value	The pension investments that are measured at fair value are summarized below: December 31, 2024 Millions of dollars Fair Value Level 1 Level 2 Level 3 U.S. Common and preferred stock $ 64 $ 64 $ — $ — Commingled funds measured at net asset value 459 Fixed income securities 97 — 97 — Real estate measured at net asset value 63 Hedge funds measured at net asset value 20 Private equity measured at net asset value 46 U.S. government securities 253 253 — — Cash and cash equivalents 26 26 — — Total U.S. Pension Assets $ 1,028 $ 343 $ 97 $ — December 31, 2024 Millions of dollars Fair Value Level 1 Level 2 Level 3 Non-U.S. Insurance arrangements $ 531 $ — $ — $ 531 Commingled funds measured at net asset value 237 Cash and cash equivalents 1 1 — — Total Non-U.S. Pension Assets $ 769 $ 1 $ — $ 531 December 31, 2023 Millions of dollars Fair Value Level 1 Level 2 Level 3 U.S. Common and preferred stock $ 155 $ 155 $ — $ — Commingled funds measured at net asset value 342 Fixed income securities 53 — 53 — Real estate measured at net asset value 80 Hedge funds measured at net asset value 42 Private equity measured at net asset value 65 U.S. government securities 206 206 — — Cash and cash equivalents 40 40 — — Total U.S. Pension Assets $ 983 $ 401 $ 53 $ — December 31, 2023 Millions of dollars Fair Value Level 1 Level 2 Level 3 Non-U.S. Insurance arrangements $ 474 $ — $ — $ 474 Commingled funds measured at net asset value 228 Cash and cash equivalents 1 1 — — Total Non-U.S. Pension Assets $ 703 $ 1 $ — $ 474
Fair value measurements of investments in certain entities that calculate net asset value per share	The fair value measurements of the investments in certain entities that calculate net asset value per share as of December 31, 2024 are as follows: Millions of dollars Fair Unfunded Remaining Redemption Frequency Trade to Redemption U.S. Commingled fund investing in Domestic Equity $ 187 $ — N/A daily 1 to 3 days 3 to 4 days Commingled fund investing in International Equity 155 — N/A daily 1 to 3 days 3 days Commingled fund investing in Fixed Income 117 — N/A daily 1 to 3 days 3 to 7 days Real Estate 63 10 10 years quarterly 15 to 25 days 45 to 90 days Hedge Funds 20 — N/A quarterly 10 to 30 days 20 to 90 days Private Equity 46 13 10 years Not eligible N/A N/A Total U.S. $ 588 $ 23 Millions of dollars Fair Unfunded Remaining Redemption Frequency Trade to Redemption Non-U.S. Commingled fund investing in Domestic Equity $ 21 $ — N/A 1 to 7 days 1 to 3 days 1 to 3 days Commingled fund investing in International Equity 23 — N/A 1 to 7 days 1 to 3 days 1 to 3 days Commingled fund investing in Fixed Income 193 — N/A daily 1 to 3 days 3 days Total Non-U.S. $ 237 $ — The fair value measurements of the investments in certain entities that calculate net asset value per share as of December 31, 2023 are as follows: Millions of dollars Fair Unfunded Remaining Redemption Frequency Trade to Redemption U.S. Commingled fund investing in Domestic Equity $ 168 $ — N/A daily 1 to 3 days 3 to 4 days Commingled fund investing in International Equity 68 — N/A daily 1 to 3 days 3 days Commingled fund investing in Fixed Income 106 — N/A daily 1 to 3 days 3 to 7 days Real Estate 80 11 10 years quarterly 15 to 25 days 45 to 90 days Hedge Funds 42 — N/A quarterly 10 to 30 days 20 to 90 days Private Equity 65 14 10 years Not eligible N/A N/A Total U.S. $ 529 $ 25 Millions of dollars Fair Unfunded Remaining Redemption Frequency Trade to Redemption Non-U.S. Commingled fund investing in Domestic Equity $ 23 $ — N/A 1 to 7 days 1 to 3 days 1 to 3 days Commingled fund investing in International Equity 24 — N/A 1 to 7 days 1 to 3 days 1 to 3 days Commingled fund investing in Fixed Income 181 — N/A daily 1 to 3 days 3 days Total Non-U.S. $ 228 $ —
Company contributions to employee savings plans	The following table provides the Company contributions to the Employee Savings Plans: Company Contributions 2024 2023 2022 Millions of dollars U.S. Non-U.S. U.S. Non-U.S. U.S. Non-U.S. Employee Savings Plans $ 60 $ 11 $ 57 $ 9 $ 53 $ 8

Incentive and Share-Based Com_2

Incentive and Share-Based Compensation (Tables)	12 Months Ended
	Dec. 31, 2024
Share-Based Payment Arrangement [Abstract]
Summary of compensation expense and associated tax benefits	Total share-based compensation expense and the associated tax benefits are as follows: Year Ended December 31, Millions of dollars 2024 2023 2022 Compensation Expense: Restricted stock units $ 60 $ 44 $ 33 Stock options 4 10 8 Performance share units 27 37 29 Total $ 91 $ 91 $ 70 Tax Benefit: Restricted stock units $ 14 $ 10 $ 8 Stock options 1 2 2 Performance share units 6 9 7 Total $ 21 $ 21 $ 17
Summary of restricted stock unit activity	The following table summarizes RSU activity for the year: Number of Weighted Average Outstanding at January 1, 2024 994 $ 96.67 Granted 785 95.78 Vested (481) 98.95 Forfeited (62) 99.32 Outstanding at December 31, 2024 1,236 $ 95.09
Weighted average fair value assumptions used to value stock options	The weighted average fair value of Stock options granted and the assumptions used in estimating those fair values are as follows: Year Ended December 31, 2023 2022 Weighted average fair value $ 24.85 $ 24.27 Fair value assumptions: Dividend yield 5.0 % 4.3 % Expected volatility 39.9-40.2% 39.1-40.7% Risk-free interest rate 3.5-4.7% 1.9-4.2% Weighted average expected term, in years 5.7 5.4
Summary of stock option activity	The following table summarizes Stock option activity: Number of Weighted Weighted Aggregate Outstanding at January 1, 2024 2,644 $ 90.01 Granted — — Exercised (631) 84.98 Forfeited (29) 92.78 Expired (41) 99.87 Outstanding at December 31, 2024 1,943 $ 91.40 5.1 years $ — Exercisable at December 31, 2024 1,555 $ 90.73 4.4 years $ —
Weighted average fair value assumptions used to value PSUs	The weighted average fair value and the assumptions used in estimating those fair value using a Monte-Carlo simulation are as follows: Year Ended December 31, 2024 2023 2022 Weighted average fair value $ 133.75 $ 128.95 $ 122.15 Fair value assumptions: Expected volatility of LyondellBasell N.V. common stock 28.60 % 38.04% 48.71% Expected volatility of peer companies 24.68-43.42% 22.82-52.73% 23.12-61.28% Average correlation coefficient of peer companies 0.56 0.52 0.59 Risk-free interest rate 4.47 % 4.39% 1.69 %
Summary of performance share unit activity	The following table summarizes PSU activity: Number of Weighted Average Outstanding at January 1, 2024 853 $ 116.39 Granted 716 108.56 Vested (538) 117.39 Forfeited (42) 100.95 Outstanding at December 31, 2024 989 $ 101.94

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2024
Income Tax Disclosure [Abstract]
Schedule of components of the provision for income taxes	The significant components of the provision for income taxes are as follows: Year Ended December 31, Millions of dollars 2024 2023 2022 Current: U.S. federal $ 430 $ 261 $ 250 Non-U.S. 198 160 205 State 49 37 58 Total current 677 458 513 Deferred: U.S. federal (172) 77 369 Non-U.S. (279) (36) (12) State 14 2 12 Total deferred (437) 43 369 Provision for income taxes before tax effects of other comprehensive income 240 501 882 Tax effects of elements of other comprehensive income: Pension and post-retirement liabilities (1) (36) 125 Financial derivatives 38 (29) 57 Foreign currency translation 44 (28) 59 Total income tax expense in comprehensive income $ 321 $ 408 $ 1,123
Schedule of income before taxes and schedule of effective income tax reconciliation	The following table reconciles the expected tax expense (benefit) at the U.S. statutory federal income tax rate to the total income tax provision as calculated: Year Ended December 31, Millions of dollars 2024 2023 2022 Income (loss) before income taxes: U.S. $ 1,685 $ 1,958 $ 3,289 Non-U.S. (82) 669 1,487 Total $ 1,603 $ 2,627 $ 4,776 Income tax at U.S. statutory rate $ 337 $ 552 $ 1,003 Increase (reduction) resulting from: Non-U.S. income/(loss) taxed at different statutory rates (102) 4 27 Return to accrual adjustments (26) (22) 16 State income taxes, net of federal benefit 57 33 60 Exempt income (101) (203) (213) Uncertain tax positions 18 21 (74) Patent box ruling — (31) — Non-deductible impairment 28 62 14 Audit settlement — 46 — Foreign currency gain or loss (27) 8 (6) Cross border tax effects 19 14 12 Other, net 37 17 43 Income tax provision $ 240 $ 501 $ 882
Schedule of deferred tax assets and liabilities	The deferred tax effects of tax loss, credit and interest carryforwards (“tax attributes”) and the tax effects of temporary differences between the tax basis of assets and liabilities and their reported amounts in the Consolidated Financial Statements, reduced by a valuation allowance where appropriate, are presented below. December 31, Millions of dollars 2024 2023 Deferred tax liabilities: Accelerated tax depreciation $ 2,342 $ 2,562 Investment in joint venture partnerships 455 486 Inventory 194 227 Operating lease assets 330 334 Other liabilities 78 134 Total deferred tax liabilities $ 3,399 $ 3,743 Deferred tax assets: Tax attributes $ 420 $ 307 Employee benefit plans 248 259 Operating lease liabilities 387 383 Other assets 203 182 Total deferred tax assets 1,258 1,131 Deferred tax asset valuation allowances (135) (78) Net deferred tax assets 1,123 1,053 Net deferred tax liabilities $ 2,276 $ 2,690 Balance sheet classification is presented in the following table: December 31, Millions of dollars 2024 2023 Deferred tax assets—long-term $ 259 $ 196 Deferred tax liabilities—long-term 2,535 2,886 Net deferred tax liabilities $ 2,276 $ 2,690
Schedule of the expiration of the tax attributes and the related deferred tax assets	The scheduled expiration of the tax attributes and the related deferred tax assets, before valuation allowance, as of December 31, 2024 are as follows: Millions of dollars Tax Deferred Tax 2025 $ 22 $ 1 2026 13 1 2027 19 4 2028 20 7 2029 15 3 Thereafter 549 53 Indefinite 1,330 351 Total $ 1,968 $ 420
Schedule of deferred tax assets of tax attributes by jurisdiction	The tax attributes are primarily related to operations in the United States, Germany, United Kingdom, The Netherlands, and France. The related deferred tax assets by primary jurisdictions are shown below: December 31, Millions of dollars 2024 2023 2022 United States $ 114 $ 151 $ 84 Germany 107 3 7 United Kingdom 105 91 45 The Netherlands 35 18 13 France 21 23 $ 46 Other 38 21 15 Total $ 420 $ 307 $ 210
Schedule of valuation allowance by jurisdiction	A summary of the valuation allowances by primary jurisdiction is shown below, reflecting the valuation allowances for all the net deferred tax assets, including deferred tax assets for tax attributes and other temporary differences. December 31, Millions of dollars 2024 2023 2022 Germany $ 43 $ 1 $ — United Kingdom 30 30 29 United States 24 15 11 France 21 23 22 Other 17 9 4 Total $ 135 $ 78 $ 66
Schedule of unrecognized tax benefits	The following table presents a reconciliation of the beginning and ending amounts of unrecognized tax benefits included on our Consolidated Balance Sheet: Year Ended December 31, Millions of dollars 2024 2023 2022 Unrecognized tax benefit, beginning of period $ 288 $ 271 $ 327 Additions for tax positions of current year 14 37 22 Additions for tax positions of prior years 15 2 13 Reductions for tax positions of prior years (15) (22) (91) Settlements (payments/refunds) (66) — — Unrecognized tax benefit, end of period $ 236 $ 288 $ 271
Summary of income tax examinations	A summary of the years open to examination in our primary jurisdictions is as follows: Jurisdiction Open Tax Years France 2019 and later Germany 2008 and later Italy 2014 and later The Netherlands 2019 and later United Kingdom 2022 and later United States 2014 and later

Commitments and Contingencies (

Commitments and Contingencies (Tables)	12 Months Ended
	Dec. 31, 2024
Commitments and Contingencies Disclosure [Abstract]
Schedule of environmental loss contingencies	The following table summarizes the activity in our accrued environmental liability included in Accrued and other current liabilities and Other liabilities: Year Ended December 31, Millions of dollars 2024 2023 Beginning balance $ 124 $ 127 Changes in estimates 29 5 Amounts paid (10) (9) Foreign exchange effects (3) 1 Ending balance $ 140 $ 124

Shareholders' Equity and Rede_2

Shareholders' Equity and Redeemable Non-controlling Interests - Shareholders' Equity (Tables)	12 Months Ended
	Dec. 31, 2024
Shareholders' Equity and Redeemable Non-controlling Interests [Abstract]
Dividends declared	Dividend Distributions —The following table summarizes the dividends paid to common shareholders in the periods presented: Millions of dollars, except per share amounts Dividend Per Aggregate Date of Record For the year 2024: March $ 1.25 $ 408 March 4, 2024 June 1.34 438 June 3, 2024 September 1.34 437 August 26, 2024 December 1.34 437 December 2, 2024 $ 5.27 $ 1,720 For the year 2023: March $ 1.19 $ 389 March 6, 2023 June 1.25 408 May 30, 2023 September 1.25 407 August 28, 2023 December 1.25 406 November 27, 2023 $ 4.94 $ 1,610
Schedule of share repurchase programs	The following table summarizes our share repurchase activity for the periods presented: Millions of dollars, except shares and per share amounts Shares Average Total Purchase Price, Including Commissions and Fees For the year 2024: 2024 Share Repurchase Authorization 2,236,348 $ 88.42 $ 198 2,236,348 $ 88.42 $ 198 For the year 2023: 2022 Share Repurchase Authorization 1,365,898 $ 88.98 $ 122 2023 Share Repurchase Authorization 983,309 90.99 89 2,349,207 $ 89.82 $ 211 For the year 2022: 2021 Share Repurchase Authorization 2,111,538 $ 97.72 $ 206 2022 Share Repurchase Authorization 2,286,216 87.50 200 4,397,754 $ 92.41 $ 406
Schedule of changes in ordinary and treasury shares outstanding during the period	Ordinary Shares —The changes in the outstanding amounts of ordinary shares are as follows: Year Ended December 31, 2024 2023 2022 Ordinary shares outstanding: Beginning balance 324,483,402 325,723,567 329,536,389 Share-based compensation 1,278,115 793,984 291,104 Employee stock purchase plan 364,663 315,058 293,828 Purchase of ordinary shares (2,236,348) (2,349,207) (4,397,754) Ending balance 323,889,832 324,483,402 325,723,567 Treasury Shares —The changes in the amounts of treasury shares held by the Company are as follows: Year Ended December 31, 2024 2023 2022 Ordinary shares held as treasury shares: Beginning balance 15,939,096 14,698,931 10,675,605 Share-based compensation (1,278,115) (793,984) (291,104) Employee stock purchase plan (364,663) (315,058) (83,324) Purchase of ordinary shares 2,236,348 2,349,207 4,397,754 Ending balance 16,532,666 15,939,096 14,698,931
Schedule of accumulated other comprehensive income (loss)	Accumulated Other Comprehensive Loss —The components of, and after-tax changes in, Accumulated other comprehensive loss as of and for the years ended December 31, 2024, 2023 and 2022 are presented in the following table: Millions of dollars Financial Defined Foreign Total Balance, December 31, 2021 $ (354) $ (528) $ (921) $ (1,803) Other comprehensive income (loss) before reclassifications 393 342 (64) 671 Tax expense before reclassifications (86) (95) (59) (240) Amounts reclassified from accumulated other comprehensive loss (128) 128 — — Tax benefit (expense) 29 (29) — — Net other comprehensive income (loss) 208 346 (123) 431 Balance, December 31, 2022 $ (146) $ (182) $ (1,044) $ (1,372) Other comprehensive (loss) income before reclassifications $ (178) $ (142) $ 45 $ (275) Tax benefit before reclassifications 47 38 28 113 Amounts reclassified from accumulated other comprehensive loss 69 9 — 78 Tax expense (18) (2) — (20) Net other comprehensive (loss) income (80) (97) 73 (104) Balance, December 31, 2023 $ (226) $ (279) $ (971) $ (1,476) Other comprehensive income (loss) before reclassifications $ 51 $ (21) $ (125) $ (95) Tax (expense) benefit before reclassifications (13) 5 (44) (52) Amounts reclassified from accumulated other comprehensive loss 102 18 — 120 Tax expense (25) (4) — (29) Net other comprehensive income (loss) 115 (2) (169) (56) Balance, December 31, 2024 $ (111) $ (281) $ (1,140) $ (1,532)
Reclassification out of accumulated other comprehensive income (loss)	The amounts reclassified out of each component of Accumulated other comprehensive loss are as follows: Millions of dollars Year Ended December 31, Affected Line Items on the Consolidated Statements of Income 2024 2023 2022 Reclassification adjustments for: Financial derivatives: Commodities $ 4 $ — $ — Sales and other operating expenses Commodities 129 33 (59) Cost of sales Foreign currency (35) 31 (75) Interest expense Interest rates 4 5 6 Interest expense Income tax (expense) benefit (25) (18) 29 Provision for income taxes Financial derivatives, net of tax 77 51 (99) Amortization of defined pension items: Settlement loss — — 103 Other income (expense), net Actuarial loss 15 6 22 Other income (expense), net Prior service cost 3 3 3 Other income (expense), net Income tax expense (4) (2) (29) Provision for income taxes Defined pension items, net of tax 14 7 99 Total reclassifications, before tax 120 78 — Income tax expense (29) (20) — Provision for income taxes Total reclassifications, after tax $ 91 $ 58 $ — Amount included in net income

Per Share Data (Tables)

Per Share Data (Tables)	12 Months Ended
	Dec. 31, 2024
Earnings Per Share [Abstract]
Schedule of earnings per share, basic and diluted	Earnings per share data is as follows: Year Ended December 31, 2024 2023 2022 Continuing Discontinued Continuing Discontinued Continuing Discontinued Millions of dollars Operations Operations Operations Operations Operations Operations Net income (loss) $ 1,363 $ 4 $ 2,126 $ (5) $ 3,894 $ (5) Dividends on redeemable non-controlling interests (7) — (7) — (7) — Net income attributable to participating securities (6) — (7) — (10) — Net income (loss) attributable to ordinary shareholders—basic and diluted $ 1,350 $ 4 $ 2,112 $ (5) $ 3,877 $ (5) Millions of shares, Basic weighted average common stock outstanding 325 325 325 325 327 327 Effect of dilutive securities 1 1 1 1 1 1 Potential dilutive shares 326 326 326 326 328 328 Earnings (loss) per share: Basic $ 4.15 $ 0.01 $ 6.50 $ (0.02) $ 11.86 $ (0.02) Diluted $ 4.14 $ 0.01 $ 6.48 $ (0.02) $ 11.83 $ (0.02)

Segment and Related Informati_2

Segment and Related Information (Tables)	12 Months Ended
	Dec. 31, 2024
Segment Reporting [Abstract]
Schedule of segment reporting information, by segment	Summarized financial information concerning reportable segments is shown in the following tables for the periods presented: Year Ended December 31, 2024 O&P - O&P - I&D APS Refining Technology Other Total Millions of dollars Sales and other operating revenues: Customers $ 7,619 $ 10,188 $ 10,219 $ 3,616 $ 8,080 $ 580 $ — $ 40,302 Intersegment 3,914 679 205 18 479 91 (5,386) — 11,533 10,867 10,424 3,634 8,559 671 (5,386) 40,302 Less: Cost of sales 9,261 10,529 9,208 3,271 8,639 211 (5,381) 35,738 Impairments — 892 2 55 — — — 949 (Income) loss from equity investments (13) 217 13 — — — — 217 Gain on sale of business — — (284) — — — — (284) Other items 459 440 222 344 130 123 30 1,748 Add: Depreciation and amortization expense 619 220 401 90 150 42 — 1,522 EBITDA $ 2,445 $ (991) $ 1,664 $ 54 $ (60) $ 379 $ (35) $ 3,456 Capital expenditures $ 635 $ 525 $ 445 $ 105 $ 31 $ 95 $ 3 $ 1,839 Year Ended December 31, 2023 Millions of dollars O&P - O&P - I&D APS Refining Technology Other Total Sales and other operating revenues: Customers $ 6,967 $ 9,822 $ 10,875 $ 3,686 $ 9,179 $ 578 $ — $ 41,107 Intersegment 4,313 657 211 12 535 85 (5,813) — 11,280 10,479 11,086 3,698 9,714 663 (5,813) 41,107 Less: Cost of sales 9,146 10,165 9,383 3,393 9,357 210 (5,805) 35,849 Impairments 25 38 192 252 11 — — 518 (Income) loss from equity investments (49) 55 13 1 — — — 20 Other items 442 437 262 312 125 119 48 1,745 Add: Depreciation and amortization expense 587 207 443 98 158 41 — 1,534 EBITDA $ 2,303 $ (9) $ 1,679 $ (162) $ 379 $ 375 $ (56) $ 4,509 Capital expenditures $ 480 $ 273 $ 590 $ 75 $ 32 $ 69 $ 12 $ 1,531 Year Ended December 31, 2022 Millions of dollars O&P - O&P - I&D APS Refining Technology Other Total Sales and other operating revenues: Customers $ 9,420 $ 12,568 $ 12,703 $ 4,197 $ 10,975 $ 588 $ — $ 50,451 Intersegment 5,060 887 247 5 918 105 (7,222) — 14,480 13,455 12,950 4,202 11,893 693 (7,222) 50,451 Less: Cost of sales 11,953 12,943 11,135 3,901 10,883 242 (7,210) 43,847 Impairments — 69 — — — — — 69 (Income) loss from equity investments (98) 68 25 — — — — (5) Other items 351 368 250 281 128 124 4 1,506 Add: Depreciation and amortization expense 591 171 332 95 39 39 — 1,267 EBITDA $ 2,865 $ 178 $ 1,872 $ 115 $ 921 $ 366 $ (16) $ 6,301 Capital expenditures $ 383 $ 349 $ 940 $ 60 $ 53 $ 98 $ 7 $ 1,890
Reconciliation of EBITDA to income (loss) from continuing operations before income taxes	A reconciliation of EBITDA to Income from continuing operations before income taxes is shown in the following table for each of the periods presented: Year Ended December 31, Millions of dollars 2024 2023 2022 EBITDA: Total segment EBITDA $ 3,491 $ 4,565 $ 6,317 Other EBITDA (35) (56) (16) Less: Depreciation and amortization expense (1,522) (1,534) (1,267) Interest expense (481) (477) (287) Add: Interest income 150 129 29 Income from continuing operations before income taxes $ 1,603 $ 2,627 $ 4,776
Reconciliation of segment assets including goodwill	The following assets are summarized and reconciled to consolidated totals in the following table: Millions of dollars O&P - O&P - I&D APS Refining Technology Total December 31, 2024 Property, plant and equipment, net $ 6,592 $ 1,553 $ 5,670 $ 655 $ — $ 596 $ 15,066 Equity investments 2,011 1,732 377 1 — — 4,121 Goodwill 472 355 209 517 — 8 1,561 December 31, 2023 Property, plant and equipment, net $ 6,441 $ 2,139 $ 5,654 $ 678 $ 122 $ 513 $ 15,547 Equity investments 2,049 1,513 343 2 — — 3,907 Goodwill 477 380 215 567 — 8 1,647
Schedule of long-lived assets by geographic areas	Long-lived assets include Property, plant and equipment, net, Intangible assets, net and Equity investments, see Notes 7 and 8 to the Consolidated Financial Statements. The following long-lived assets data is based upon the location of the assets: December 31, Millions of dollars 2024 2023 Long-lived assets: United States $ 14,456 $ 14,334 Germany 1,691 1,593 The Netherlands 784 879 Italy 399 389 Mexico 257 281 France 171 731 China 124 375 Other 1,882 1,513 Total $ 19,764 $ 20,095
Refinery planned exit costs	Costs incurred for the planned exit from the refinery business are as follows: Year Ended December 31, Cumulative Millions of dollars 2024 2023 2022 2024 Accelerated lease amortization costs $ 38 $ 110 $ 91 $ 239 Personnel costs 35 76 64 175 Asset retirement obligation accretion 8 9 2 19 Asset retirement cost depreciation 80 139 30 249 Other charges 18 — — 18 Refinery exit costs $ 179 $ 334 $ 187 $ 700

Summary of Significant Accoun_4

Summary of Significant Accounting Policies - Narrative (Details) $ / shares in Units, T in Thousands, $ in Millions		3 Months Ended	12 Months Ended
	Jan. 01, 2023 USD ($)	Mar. 31, 2023 USD ($)	Dec. 31, 2024 USD ($) T $ / shares	Dec. 31, 2023 USD ($) T	Dec. 31, 2022 T
Summary Of Significant Accounting Policies [Line Items]
Special stock, cumulative dividend rate (in percent)			0.06
Special stock, liquidation preference per share (usd per share) | $ / shares			$ 1,000
Goodwill impairment charge | $				$ 252
Supplier finance program, obligation, current, statement of financial position [Extensible Enumeration]			Accounts Payable	Accounts Payable
Supplier finance program obligation, current in Accounts payable-Trade | $			$ 141	$ 65
APS
Summary Of Significant Accounting Policies [Line Items]
Goodwill impairment charge | $	$ 252	$ 252		$ 252
European PO JV
Summary Of Significant Accounting Policies [Line Items]
Ownership percentage in the joint venture (in percent)			50%	50%
Louisiana Joint Venture
Summary Of Significant Accounting Policies [Line Items]
Ownership percentage in the joint venture (in percent)			50%	50%
Product offtake (in tons) | T			1,100	1,200	1,000
Total PO Joint Ventures
Summary Of Significant Accounting Policies [Line Items]
Product offtake (in tons) | T			2,000	2,200	2,400
PO/SM Plant | European PO JV
Summary Of Significant Accounting Policies [Line Items]
Ownership percentage in the joint venture (in percent)			50%
U.S. PO Joint Venture
Summary Of Significant Accounting Policies [Line Items]
Joint venture partner right to annual in-kind propylene oxide production (in tons) | T			680
Ownership percentage in the joint venture (in percent)			60.62%	60.62%

Summary of Significant Accoun_5

Summary of Significant Accounting Policies - Supplier Finance Program (Details) $ in Millions	12 Months Ended
	Dec. 31, 2024 USD ($)
Accounting Policies [Abstract]
Supplier Finance Program, Obligation, Statement of Financial Position [Extensible Enumeration]	Accounts Payable
Supplier Finance Program, Obligation [Roll Forward]
Confirmed obligations outstanding at the beginning of the year	$ 65
Invoices confirmed during the year	767
Confirmed invoices paid during the year	(691)
Confirmed obligations outstanding at the end of the year	$ 141

Revenues - Narrative (Details)

Revenues - Narrative (Details) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Revenue from Contract with Customer [Abstract]
Contract with customer, liability	$ 117	$ 175

Revenues - Key product revenues

Revenues - Key product revenues (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Disaggregation of revenue [Line Items]
Revenues	$ 40,302	$ 41,107	$ 50,451
Olefins and co-products
Disaggregation of revenue [Line Items]
Revenues	3,889	3,508	4,782
Polyethylene
Disaggregation of revenue [Line Items]
Revenues	7,583	7,587	9,694
Polypropylene
Disaggregation of revenue [Line Items]
Revenues	6,287	5,642	7,458
Propylene oxide and derivatives
Disaggregation of revenue [Line Items]
Revenues	2,357	2,287	3,097
Oxyfuels and related products
Disaggregation of revenue [Line Items]
Revenues	5,074	5,640	5,482
Intermediate chemicals
Disaggregation of revenue [Line Items]
Revenues	2,693	2,864	4,012
Compounding and solutions
Disaggregation of revenue [Line Items]
Revenues	3,616	3,686	4,197
Refined products
Disaggregation of revenue [Line Items]
Revenues	8,080	9,179	10,975
Other
Disaggregation of revenue [Line Items]
Revenues	$ 723	$ 714	$ 754

Revenues - Geographic location

Revenues - Geographic location (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Disaggregation of revenue [Line Items]
Revenues	$ 40,302	$ 41,107	$ 50,451
United States
Disaggregation of revenue [Line Items]
Revenues	19,467	20,003	24,789
Germany
Disaggregation of revenue [Line Items]
Revenues	2,410	2,547	3,555
China
Disaggregation of revenue [Line Items]
Revenues	2,375	2,164	2,533
Mexico
Disaggregation of revenue [Line Items]
Revenues	1,757	1,642	2,042
Italy
Disaggregation of revenue [Line Items]
Revenues	1,418	1,365	1,737
Japan
Disaggregation of revenue [Line Items]
Revenues	1,338	1,749	1,954
France
Disaggregation of revenue [Line Items]
Revenues	1,069	1,091	1,366
Poland
Disaggregation of revenue [Line Items]
Revenues	923	905	1,271
The Netherlands
Disaggregation of revenue [Line Items]
Revenues	724	805	1,178
Other
Disaggregation of revenue [Line Items]
Revenues	$ 8,821	$ 8,836	$ 10,026

Related Party Transactions - Su

Related Party Transactions - Summary of Transaction (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Related party [Line Items]
The Company billed related parties for:	$ 40,302	$ 41,107	$ 50,451
Related parties billed the Company for:	38,485	38,054	45,350
Sales of products
Related party [Line Items]
The Company billed related parties for:	644	618	1,014
Related parties billed the Company for:	3,939	3,752	4,931
Sales of products | Sales of products—
Related party [Line Items]
The Company billed related parties for:	634	614	1,012
Related parties billed the Company for:	3,899	3,673	4,837
Sales of products | Shared service agreements—
Related party [Line Items]
Shared service agreements billed to related parties	10	4	2
Related parties billed the Company for:	$ 40	$ 79	$ 94

Accounts Receivable - Narrative

Accounts Receivable - Narrative (Details) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Receivables [Abstract]
Allowance for credit losses, receivables	$ 4	$ 6

Inventories - Schedule of Compo

Inventories - Schedule of Components (Details) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Inventory Disclosure [Abstract]
Finished goods	$ 3,014	$ 3,134
Work-in-process	145	182
Raw materials and supplies	1,499	1,449
Total inventories	$ 4,658	$ 4,765

Inventories - Narrative (Detail

Inventories - Narrative (Details) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Inventory Disclosure [Abstract]
Percentage of inventories valued using the LIFO method (in percent)	75%	78%
Excess of inventories at estimated net realizable value over LIFO cost after lower of cost or market charges	$ 1,310	$ 1,478

Property, Plant and Equipment_3

Property, Plant and Equipment, Goodwill and Intangible Assets - Components of property, plant and equipment, at cost, and the related accumulated depreciation (Details) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Property, Plant and Equipment [Line Items]
Total property, plant and equipment	$ 24,174	$ 24,906
Less accumulated depreciation	(9,108)	(9,359)
Property, plant and equipment, net	15,066	15,547
Land
Property, Plant and Equipment [Line Items]
Total property, plant and equipment	$ 280	327
Major manufacturing equipment
Property, Plant and Equipment [Line Items]
Estimated Useful Life (years)	25 years
Total property, plant and equipment	$ 14,303	14,875
Buildings
Property, Plant and Equipment [Line Items]
Estimated Useful Life (years)	30 years
Total property, plant and equipment	$ 2,508	2,513
Light equipment and instrumentation
Property, Plant and Equipment [Line Items]
Total property, plant and equipment	$ 3,471	3,793
Light equipment and instrumentation | Minimum
Property, Plant and Equipment [Line Items]
Estimated Useful Life (years)	5 years
Light equipment and instrumentation | Maximum
Property, Plant and Equipment [Line Items]
Estimated Useful Life (years)	20 years
Office furniture
Property, Plant and Equipment [Line Items]
Estimated Useful Life (years)	15 years
Total property, plant and equipment	$ 21	21
Major turnarounds
Property, Plant and Equipment [Line Items]
Total property, plant and equipment	$ 1,803	1,888
Major turnarounds | Minimum
Property, Plant and Equipment [Line Items]
Estimated Useful Life (years)	4 years
Major turnarounds | Maximum
Property, Plant and Equipment [Line Items]
Estimated Useful Life (years)	7 years
Information system equipment
Property, Plant and Equipment [Line Items]
Total property, plant and equipment	$ 70	67
Information system equipment | Minimum
Property, Plant and Equipment [Line Items]
Estimated Useful Life (years)	3 years
Information system equipment | Maximum
Property, Plant and Equipment [Line Items]
Estimated Useful Life (years)	5 years
Construction in progress
Property, Plant and Equipment [Line Items]
Total property, plant and equipment	$ 1,718	$ 1,422

Property, Plant and Equipment_4

Property, Plant and Equipment, Goodwill and Intangible Assets - Components of intangible assets, at cost, and the related amortization (Details) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Finite-lived intangible assets [Line Items]
Cost	$ 1,969	$ 1,974
Accumulated Amortization	(1,392)	(1,333)
Net	577	641
Emission allowances
Finite-lived intangible assets [Line Items]
Cost	744	760
Accumulated Amortization	(525)	(514)
Net	219	246
Customer relationships
Finite-lived intangible assets [Line Items]
Cost	309	317
Accumulated Amortization	(125)	(108)
Net	184	209
Software costs
Finite-lived intangible assets [Line Items]
Cost	188	161
Accumulated Amortization	(86)	(63)
Net	102	98
Other
Finite-lived intangible assets [Line Items]
Cost	728	736
Accumulated Amortization	(656)	(648)
Net	$ 72	$ 88

Property, Plant and Equipment_5

Property, Plant and Equipment, Goodwill and Intangible Assets - Narrative (Details) - USD ($) $ in Millions		3 Months Ended		12 Months Ended
	Jan. 01, 2023	Mar. 31, 2023	Jun. 30, 2022	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Property, Plant and Equipment [Line Items]
Capitalized interest				$ 19	$ 7	$ 114
Intangible assets future amortization expense year 1				92
Intangible assets future amortization expense year 2				73
Intangible assets future amortization expense year 3				57
Intangible assets future amortization expense year 4				42
Intangible assets future amortization expense year 5				42
Impairments				949	518	69
Goodwill				1,561	1,647	1,827
Goodwill transfers					0
Goodwill impairment charge					252
Refining
Property, Plant and Equipment [Line Items]
Impairments				0	11	0
Goodwill				0	0
Refining | Asset Retirement Obligation Costs
Property, Plant and Equipment [Line Items]
Liabilities incurred				262	259
O&P - EAI
Property, Plant and Equipment [Line Items]
Impairments			$ 69	892	38	69
Goodwill				355	380	86
Goodwill transfers	$ 269				269
Goodwill impairment charge					0
O&P - EAI | European Strategic Review
Property, Plant and Equipment [Line Items]
Impairments				837
APS
Property, Plant and Equipment [Line Items]
Impairments				55	252	0
Accumulated impairment losses to goodwill				252	252
Goodwill				$ 517	567	$ 1,370
Goodwill transfers	(584)				(584)
Goodwill impairment charge	$ 252	$ 252			$ 252

Property, Plant and Equipment_6

Property, Plant and Equipment, Goodwill and Intangible Assets - Depreciation and amortization by major asset class (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Depreciation and amortization [Line Items]
Depreciation and amortization	$ 1,522	$ 1,534	$ 1,267
Property, plant and equipment
Depreciation and amortization [Line Items]
Depreciation and amortization	1,323	1,303	1,033
PO Joint Ventures and Louisiana Joint Venture
Depreciation and amortization [Line Items]
Depreciation and amortization	118	148	155
Emission allowances
Depreciation and amortization [Line Items]
Depreciation and amortization	8	8	8
Customer relationships
Depreciation and amortization [Line Items]
Depreciation and amortization	21	20	19
Software costs
Depreciation and amortization [Line Items]
Depreciation and amortization	23	17	14
Other
Depreciation and amortization [Line Items]
Depreciation and amortization	$ 29	$ 38	$ 38

Property, Plant and Equipment_7

Property, Plant and Equipment, Goodwill and Intangible Assets - Changes in asset retirement obligations (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Asset retirement obligation [Roll Forward]
Beginning balance	$ 311	$ 305
Liabilities settled	(6)	(5)
Changes in estimates	3	0
Accretion expense	9	10
Effects of exchange rate changes	(2)	1
Ending balance	$ 315	$ 311

Property, Plant and Equipment_8

Property, Plant and Equipment, Goodwill and Intangible Assets - Schedule of goodwill (Details) - USD ($) $ in Millions		3 Months Ended	12 Months Ended
	Jan. 01, 2023	Mar. 31, 2023	Dec. 31, 2024	Dec. 31, 2023
Goodwill [Roll Forward]
Beginning balance	$ 1,827	$ 1,827	$ 1,647	$ 1,827
Reallocation of goodwill				0
Acquisitions				31
Assets held for sale				(14)
Impairment charge				(252)
Foreign currency translation adjustments			(86)	55
Ending balance			1,561	1,647
O&P - Americas
Goodwill [Roll Forward]
Beginning balance	162	162	477	162
Reallocation of goodwill	315			315
Acquisitions				0
Assets held for sale				0
Impairment charge				0
Foreign currency translation adjustments			(5)	0
Ending balance			472	477
O&P - EAI
Goodwill [Roll Forward]
Beginning balance	86	86	380	86
Reallocation of goodwill	269			269
Acquisitions				0
Assets held for sale				0
Impairment charge				0
Foreign currency translation adjustments			(25)	25
Ending balance			355	380
I&D
Goodwill [Roll Forward]
Beginning balance	201	201	215	201
Reallocation of goodwill				0
Acquisitions				0
Assets held for sale				(14)
Impairment charge				0
Foreign currency translation adjustments			(6)	28
Ending balance			209	215
APS
Goodwill [Roll Forward]
Beginning balance	1,370	1,370	567	1,370
Reallocation of goodwill	(584)			(584)
Acquisitions				31
Assets held for sale				0
Impairment charge	(252)	(252)		(252)
Foreign currency translation adjustments			(50)	2
Ending balance			517	567
Technology
Goodwill [Roll Forward]
Beginning balance	$ 8	$ 8	8	8
Reallocation of goodwill				0
Acquisitions				0
Assets held for sale				0
Impairment charge				0
Foreign currency translation adjustments			0	0
Ending balance			$ 8	$ 8

Equity Investments - Equity met

Equity Investments - Equity method investments (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022	May 31, 2024
Schedule of equity method investments [Line Items]
Acquisition of equity investments	$ 551	$ 102	$ 4
Louisiana Joint Venture
Schedule of equity method investments [Line Items]
Equity investment, ownership percentage (in percent)	50%	50%
Indelpro S.A. de C.V.
Schedule of equity method investments [Line Items]
Equity investment, ownership percentage (in percent)	49%	49%
Basell Orlen Polyolefins Sp. Z.o.o.
Schedule of equity method investments [Line Items]
Equity investment, ownership percentage (in percent)	50%	50%
PolyMirae Co. Ltd.
Schedule of equity method investments [Line Items]
Equity investment, ownership percentage (in percent)	50%	50%
Bora LyondellBasell Petrochemical Co. Ltd.
Schedule of equity method investments [Line Items]
Equity investment, ownership percentage (in percent)	50%	50%
National Petrochemical Industrial Company
Schedule of equity method investments [Line Items]
Equity investment, ownership percentage (in percent)	35%	0%		35%
HMC Polymers Company Ltd.
Schedule of equity method investments [Line Items]
Equity investment, ownership percentage (in percent)	28.56%	28.56%
Al-Waha Petrochemicals Ltd.
Schedule of equity method investments [Line Items]
Equity investment, ownership percentage (in percent)	25%	25%
Saudi Ethylene & Polyethylene Company Ltd.
Schedule of equity method investments [Line Items]
Equity investment, ownership percentage (in percent)	25%	25%
Saudi Polyolefins Company
Schedule of equity method investments [Line Items]
Equity investment, ownership percentage (in percent)	25%	25%
U.S. PO Joint Venture
Schedule of equity method investments [Line Items]
Equity investment, ownership percentage (in percent)	60.62%	60.62%
European PO JV
Schedule of equity method investments [Line Items]
Equity investment, ownership percentage (in percent)	50%	50%
Ningbo ZRCC Lyondell Chemical Co. Ltd.
Schedule of equity method investments [Line Items]
Equity investment, ownership percentage (in percent)	26.65%	26.65%

Equity Investments - Changes in

Equity Investments - Changes in equity investments (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Changes in equity investments [Roll Forward]
Beginning balance	$ 3,907	$ 4,295
Capital contributions	113	54
Loss from equity investments	(217)	(20)	$ 5
Acquisition of equity investments	551	102	4
Distribution of earnings, net of tax	(122)	(169)	(349)
Depreciation of PO Joint Ventures and Louisiana Joint Venture	(118)	(148)
Impairments	(13)	(192)
Currency exchange effects	(26)	9
Other	46	(24)
Ending balance	$ 4,121	$ 3,907	$ 4,295

Equity Investments - Narrative

Equity Investments - Narrative (Details) T in Thousands, $ in Millions	1 Months Ended	3 Months Ended	12 Months Ended
	May 31, 2024 USD ($) T	Dec. 31, 2023 USD ($)	Dec. 31, 2024 USD ($)	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)
Schedule of equity method investments [Line Items]
Acquisition of equity investments			$ 551	$ 102	$ 4
Equity investments		$ 3,907	4,121	3,907	$ 4,295
Impairments			13	192
Total PO Joint Ventures
Schedule of equity method investments [Line Items]
Acquisition of equity investments			$ 84	$ 32
European PO JV
Schedule of equity method investments [Line Items]
Ownership percentage in the joint venture (in percent)		50%	50%	50%
Impairments		$ 192
National Petrochemical Industrial Company (NATPET)
Schedule of equity method investments [Line Items]
Ownership percentage in the joint venture (in percent)	35%	0%	35%	0%
Equity investments	$ 500
Production manufacturing joint venture capacity | T	400

Equity Investments - Summarized

Equity Investments - Summarized balance sheet information (Details) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Schedule of equity method investments [Line Items]
Current assets	$ 12,266	$ 13,152
Total assets	35,746	37,000
Current liabilities	6,705	7,150
Equity method investments, nonconsolidated investee or group of investees
Schedule of equity method investments [Line Items]
Current assets	3,230	3,622
Noncurrent assets	8,517	10,810
Total assets	11,747	14,432
Current liabilities	1,637	2,903
Noncurrent liabilities	1,064	2,300
Net assets	$ 9,046	$ 9,229

Equity Investments - Summariz_2

Equity Investments - Summarized income statement information (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Schedule of equity method investments [Line Items]
Revenues	$ 40,302	$ 41,107	$ 50,451
Cost of sales	(35,738)	(35,849)	(43,847)
Operating income	1,817	3,053	5,101
Interest income	150	129	29
Interest expense	(481)	(477)	(287)
Foreign currency translation	15	(34)	(14)
Other expense, net	50	(58)	(72)
Income from continuing operations before income taxes	1,603	2,627	4,776
(Provision for) benefit from income taxes	(240)	(501)	(882)
Income from continuing operations	1,363	2,126	3,894
Equity method investments, nonconsolidated investee or group of investees
Schedule of equity method investments [Line Items]
Revenues	13,113	12,540	15,435
Cost of sales	(12,669)	(12,044)	(14,900)
Gross profit	444	496	535
Net operating expenses	(614)	(514)	(519)
Operating income	(170)	(18)	16
Interest income	26	23	7
Interest expense	(148)	(131)	(24)
Foreign currency translation	(17)	(1)	(1)
Other expense, net	(3)	(23)	(26)
Income from continuing operations before income taxes	(312)	(150)	(28)
(Provision for) benefit from income taxes	(252)	22	(1)
Income from continuing operations	$ (564)	$ (128)	$ (29)

Prepaid Expenses, Other Curre_3

Prepaid Expenses, Other Current Assets and Other Assets (Details) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Components of prepaid expenses and other current assets [Abstract]
Assets held for sale	$ 0	$ 444
Income tax receivable	79	268
VAT receivables	179	214
Financial derivatives	210	184
Renewable identification numbers	127	113
Advances to suppliers	83	90
Prepaid insurance	36	36
Other	214	126
Total prepaid expenses and other current assets	928	1,475
Components of other assets [Abstract]
Deferred tax assets	259	196
Company-owned life insurance	46	48
Financial derivatives	75	45
Pension assets	56	39
Other	252	249
Total other assets	$ 688	$ 577

Accrued and Other Current Lia_3

Accrued and Other Current Liabilities - Accrued Liabilities (Details) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Payables and Accruals [Abstract]
Payroll and benefits	$ 517	$ 497
Operating lease liabilities	355	360
Renewable identification numbers	132	220
Financial derivatives	71	242
Taxes other than income taxes	199	183
Contract liabilities	110	175
Income taxes	311	143
Product sales rebates	132	140
Interest	127	123
Liabilities held for sale	0	120
Asset Retirement Obligations	113	1
Other	289	232
Total accrued and other current liabilities	$ 2,356	$ 2,436

Debt - Long-term debt (Details)

Debt - Long-term debt (Details) € in Millions, $ in Millions	Dec. 31, 2024 USD ($)	Dec. 31, 2024 EUR (€)	Mar. 31, 2024	Feb. 29, 2024 USD ($)	Dec. 31, 2023 USD ($)
Long-term debt [Line Items]
Total long-term debt	$ 11,030				$ 11,115
Less current maturities	(498)				(782)
Long-term debt	10,532				10,333
Senior Notes due 2024, $1,000 million, 5.75%
Long-term debt [Line Items]
Face amount	$ 1,000
Stated interest rate (in percent)	5.75%	5.75%	5.75%
Total long-term debt	$ 0				775
Senior Notes due 2055, $1,000 million, 4.625% ($15 million of discount; $10 million of debt issuance cost)
Long-term debt [Line Items]
Face amount	$ 1,000
Stated interest rate (in percent)	4.625%	4.625%
Unamortized discount	$ 15
Unamortized debt issuance costs	10
Total long-term debt	975				975
Guaranteed Notes due 2027, $300 million, 8.1%
Long-term debt [Line Items]
Face amount	$ 300
Stated interest rate (in percent)	8.10%	8.10%
Total long-term debt	$ 300				300
Guaranteed Notes due 2043, $750 million, 5.25% ($18 million of discount; $6 million of debt issuance cost) | Issued by LYB International Finance B.V.:
Long-term debt [Line Items]
Face amount	$ 750
Stated interest rate (in percent)	5.25%	5.25%
Unamortized discount	$ 18
Unamortized debt issuance costs	6
Total long-term debt	726				726
Guaranteed Notes due 2044, $1,000 million, 4.875% ($9 million of discount; $8 million of debt issuance cost) | Issued by LYB International Finance B.V.:
Long-term debt [Line Items]
Face amount	$ 1,000
Stated interest rate (in percent)	4.875%	4.875%
Unamortized discount	$ 9
Unamortized debt issuance costs	8
Total long-term debt	$ 983				982
Guaranteed Notes due 2026, €500 million, 0.875% ($1 million of debt issuance cost)
Long-term debt [Line Items]
Stated interest rate (in percent)	0.875%	0.875%
Guaranteed Notes due 2026, €500 million, 0.875% ($1 million of debt issuance cost) | Issued by LYB International Finance II B.V.:
Long-term debt [Line Items]
Face amount | €		€ 500
Stated interest rate (in percent)	0.875%	0.875%
Unamortized debt issuance costs	$ 1
Total long-term debt	$ 515				542
Guaranteed Notes due 2027, $1,000 million, 3.5% ($2 million of discount; $1 million of debt issuance cost)
Long-term debt [Line Items]
Stated interest rate (in percent)	3.50%	3.50%
Guaranteed Notes due 2027, $1,000 million, 3.5% ($2 million of discount; $1 million of debt issuance cost) | Issued by LYB International Finance II B.V.:
Long-term debt [Line Items]
Face amount	$ 1,000
Stated interest rate (in percent)	3.50%	3.50%
Unamortized discount	$ 2
Unamortized debt issuance costs	1
Total long-term debt	$ 584				585
Guaranteed Notes due 2031, €500 million, 1.625% ($3 million of discount; $2 million of debt issuance cost) | Issued by LYB International Finance II B.V.:
Long-term debt [Line Items]
Face amount | €		€ 500
Stated interest rate (in percent)	1.625%	1.625%
Unamortized discount	$ 3
Unamortized debt issuance costs	2
Total long-term debt	$ 514				542
Guaranteed Notes due 2025, $500 million, 1.25% ($1 million of debt issuance cost)
Long-term debt [Line Items]
Stated interest rate (in percent)	1.25%	1.25%
Guaranteed Notes due 2025, $500 million, 1.25% ($1 million of debt issuance cost) | Issued by LYB International Finance III, LLC:
Long-term debt [Line Items]
Face amount	$ 500
Stated interest rate (in percent)	1.25%	1.25%
Unamortized debt issuance costs	$ 1
Total long-term debt	$ 487				481
Guaranteed Notes due 2030, $500 million, 3.375% ($1 million of debt issuance cost)
Long-term debt [Line Items]
Stated interest rate (in percent)	3.375%	3.375%
Guaranteed Notes due 2030, $500 million, 3.375% ($1 million of debt issuance cost) | Issued by LYB International Finance III, LLC:
Long-term debt [Line Items]
Face amount	$ 500
Stated interest rate (in percent)	3.375%	3.375%
Unamortized debt issuance costs	$ 1
Total long-term debt	$ 123				124
Guaranteed Notes due 2030, $500 million, 2.25% ($2 million of discount; $3 million of debt issuance cost)
Long-term debt [Line Items]
Stated interest rate (in percent)	2.25%	2.25%
Guaranteed Notes due 2030, $500 million, 2.25% ($2 million of discount; $3 million of debt issuance cost) | Issued by LYB International Finance III, LLC:
Long-term debt [Line Items]
Face amount	$ 500
Stated interest rate (in percent)	2.25%	2.25%
Unamortized discount	$ 2
Unamortized debt issuance costs	3
Total long-term debt	473				474
Guaranteed Notes due 2033, $500 million, 5.625% ($5 million of debt issuance cost) | Issued by LYB International Finance III, LLC:
Long-term debt [Line Items]
Face amount	$ 500
Stated interest rate (in percent)	5.625%	5.625%
Unamortized debt issuance costs	$ 5
Total long-term debt	495				495
Guaranteed Notes due 2034, $750 million, 5.5% ($5 million of discount, $7 million of debt issuance cost) | Issued by LYB International Finance III, LLC:
Long-term debt [Line Items]
Face amount	$ 750			$ 750
Stated interest rate (in percent)	5.50%	5.50%		5.50%
Unamortized discount	$ 5
Unamortized debt issuance costs	7
Total long-term debt	738				0
Guaranteed Notes due 2040, $750 million, 3.375% ($1 million of discount; $7 million of debt issuance cost) | Issued by LYB International Finance III, LLC:
Long-term debt [Line Items]
Face amount	$ 750
Stated interest rate (in percent)	3.375%	3.375%
Unamortized discount	$ 1
Unamortized debt issuance costs	7
Total long-term debt	742				742
Guaranteed Notes due 2049, $1,000 million, 4.2% ($14 million of discount; $10 million of debt issuance cost) | Issued by LYB International Finance III, LLC:
Long-term debt [Line Items]
Face amount	$ 1,000
Stated interest rate (in percent)	4.20%	4.20%
Unamortized discount	$ 14
Unamortized debt issuance costs	10
Total long-term debt	$ 976				976
Guaranteed Notes due 2050, $1,000 million, 4.2% ($6 million of discount; $10 million of debt issuance cost)
Long-term debt [Line Items]
Stated interest rate (in percent)	4.20%	4.20%
Guaranteed Notes due 2050, $1,000 million, 4.2% ($6 million of discount; $10 million of debt issuance cost) | Issued by LYB International Finance III, LLC:
Long-term debt [Line Items]
Face amount	$ 1,000
Stated interest rate (in percent)	4.20%	4.20%
Unamortized discount	$ 6
Unamortized debt issuance costs	10
Total long-term debt	982				975
Guaranteed Notes due 2051, $1,000 million, 3.625% ($2 million of discount; $10 million of debt issuance cost) | Issued by LYB International Finance III, LLC:
Long-term debt [Line Items]
Face amount	$ 1,000
Stated interest rate (in percent)	3.625%	3.625%
Unamortized discount	$ 2
Unamortized debt issuance costs	10
Total long-term debt	918				916
Guaranteed Notes due 2060, $500 million, 3.8% ($4 million of discount; $5 million of debt issuance cost) | Issued by LYB International Finance III, LLC:
Long-term debt [Line Items]
Face amount	$ 500
Stated interest rate (in percent)	3.80%	3.80%
Unamortized discount	$ 4
Unamortized debt issuance costs	5
Total long-term debt	482				483
Other | Issued by LYB International Finance III, LLC:
Long-term debt [Line Items]
Total long-term debt	$ 17				$ 22

Debt - Description of fair valu

Debt - Description of fair value adjustments for guaranteed notes (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Long-term debt [Line Items]
Gains (Losses)	$ (13)	$ (48)
Cumulative Fair Value Hedging Adjustments Included in Carrying Amount of Debt	$ 134	147
Guaranteed Notes due 2025, 1.25%
Long-term debt [Line Items]
Stated interest rate (in percent)	1.25%
Gains (Losses)	$ (5)	(5)
Cumulative Fair Value Hedging Adjustments Included in Carrying Amount of Debt	$ 4	9
Guaranteed Notes due 2026, 0.875%
Long-term debt [Line Items]
Stated interest rate (in percent)	0.875%
Gains (Losses)	$ (4)	(5)
Cumulative Fair Value Hedging Adjustments Included in Carrying Amount of Debt	$ 4	8
Guaranteed Notes due 2027, 3.5%
Long-term debt [Line Items]
Stated interest rate (in percent)	3.50%
Gains (Losses)	$ 3	2
Cumulative Fair Value Hedging Adjustments Included in Carrying Amount of Debt	$ 5	2
Guaranteed Notes due 2030, 3.375%
Long-term debt [Line Items]
Stated interest rate (in percent)	3.375%
Gains (Losses)	$ 1	(4)
Cumulative Fair Value Hedging Adjustments Included in Carrying Amount of Debt	$ 18	17
Guaranteed Notes due 2030, 2.25%
Long-term debt [Line Items]
Stated interest rate (in percent)	2.25%
Gains (Losses)	$ 1	(4)
Cumulative Fair Value Hedging Adjustments Included in Carrying Amount of Debt	$ 21	20
Guaranteed Notes due 2031, 1.625%
Long-term debt [Line Items]
Stated interest rate (in percent)	1.625%
Gains (Losses)	$ (2)	(8)
Cumulative Fair Value Hedging Adjustments Included in Carrying Amount of Debt	$ 1	3
Guaranteed Notes due 2050, 4.2%
Long-term debt [Line Items]
Stated interest rate (in percent)	4.20%
Gains (Losses)	$ (7)	(4)
Cumulative Fair Value Hedging Adjustments Included in Carrying Amount of Debt	$ 2	9
Guaranteed Notes due 2051, 3.625%
Long-term debt [Line Items]
Stated interest rate (in percent)	3.625%
Gains (Losses)	$ (2)	(18)
Cumulative Fair Value Hedging Adjustments Included in Carrying Amount of Debt	$ 70	72
Guaranteed Notes due 2060, 3.8%
Long-term debt [Line Items]
Stated interest rate (in percent)	3.80%
Gains (Losses)	$ 2	(2)
Cumulative Fair Value Hedging Adjustments Included in Carrying Amount of Debt	$ 9	$ 7

Debt - Aggregate maturities of

Debt - Aggregate maturities of debt (Details) $ in Millions	Dec. 31, 2024 USD ($)
Long-term debt [Line Items]
2025	$ 617
2026	522
2027	893
2028	1
2029	1
Thereafter	$ 9,420
Guaranteed Notes due 2025, 1.25%
Long-term debt [Line Items]
Stated interest rate (in percent)	1.25%
2025	$ 492

Debt - Description of long-term

Debt - Description of long-term debt (Details) - USD ($) $ in Millions	1 Months Ended			12 Months Ended
	Mar. 31, 2024	Feb. 29, 2024	May 31, 2023	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022	Jul. 31, 2024	Jun. 30, 2024
Description of long-term debt changes [Line Items]
Issuance of long-term debt				$ 744	$ 500	$ 0
Repayments of long-term debt				776	425	$ 0
Senior Revolving Credit Facility, $3,250 million
Description of long-term debt changes [Line Items]
Maximum borrowing capacity				3,750			$ 3,750	$ 3,250
Maximum allowed letters of credit				200
Additional borrowing capacity, uncommitted loans				1,000
Outstanding borrowings				0
Outstanding letters of credit				0
Unused availability				$ 3,750
Debt instrument, covenant, leverage ratio, maximum				3.50
Guaranteed Notes due 2027, 8.1%
Description of long-term debt changes [Line Items]
Face amount				$ 300
Interest rate (in hundredths)				8.10%
Senior Notes and Guaranteed Notes Except For Senior Notes Due 2024
Description of long-term debt changes [Line Items]
Debt instrument, redemption price (in percent)				100%
Guaranteed Notes due 2034, 5.5%
Description of long-term debt changes [Line Items]
Discounted prices at which long-term debt was issued (in hundredths)		99.20%
Issuance of long-term debt		$ 737
Guaranteed Notes due 2034, 5.5% | Issued by LYB International Finance III, LLC:
Description of long-term debt changes [Line Items]
Face amount		$ 750		$ 750
Interest rate (in hundredths)		5.50%		5.50%
Senior Notes due 2024, 5.75%
Description of long-term debt changes [Line Items]
Face amount				$ 1,000
Interest rate (in hundredths)	5.75%			5.75%
Repayments of long-term debt	$ 775
Guaranteed Notes due 2033, 5.625%
Description of long-term debt changes [Line Items]
Face amount			$ 500
Interest rate (in hundredths)			5.625%
Discounted prices at which long-term debt was issued (in hundredths)			99.895%
Issuance of long-term debt			$ 495
Guaranteed Notes due 2023, 4.0%
Description of long-term debt changes [Line Items]
Interest rate (in hundredths)	4%
Repayments of long-term debt	$ 425
Green Financing Framework
Description of long-term debt changes [Line Items]
Proceeds from issuance of long-term debt, allocated to current year qualifying project				$ 300	$ 155

Debt - Description of short-ter

Debt - Description of short-term debt (Details) - USD ($) $ in Millions	Dec. 31, 2024	Jul. 31, 2024	Jun. 30, 2024	Dec. 31, 2023
Description of short-term debt [Line Items]
Weighted average interest rate, short-term debt (in hundredths)	1.10%			1.90%
Short-term debt	$ 119			$ 117
U.S. Receivables Facility
Description of short-term debt [Line Items]
Maximum borrowing capacity	900
Additional borrowing capacity, uncommitted loans	300
Maximum allowed letters of credit	200
Outstanding borrowings	0
Outstanding letters of credit	0
Unused availability	900
Commercial paper program
Description of short-term debt [Line Items]
Maximum borrowing capacity	2,500
Outstanding borrowings	0
Precious metal financings
Description of short-term debt [Line Items]
Short-term debt	119			$ 117
Senior Revolving Credit Facility, $3,250 million
Description of short-term debt [Line Items]
Maximum borrowing capacity	3,750	$ 3,750	$ 3,250
Additional borrowing capacity, uncommitted loans	1,000
Maximum allowed letters of credit	200
Outstanding borrowings	0
Outstanding letters of credit	0
Unused availability	$ 3,750

Debt - Debt discount and issuan

Debt - Debt discount and issuance costs included in interest expense (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Debt Disclosure [Abstract]
Amortization of debt discount and debt issuance costs	$ 11	$ 9	$ 14

Leases - Narrative (Details)

Leases - Narrative (Details) - USD ($) $ in Millions	12 Months Ended			36 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2024
Lease description [Line Items]
Operating lease assets	$ 1,467	$ 1,529		$ 1,467
Present value of lease liabilities	1,774	1,769		1,774
Operating lease liability, current	$ 355	$ 360		$ 355
Operating Lease, Liability, Current, Statement of Financial Position [Extensible Enumeration]	Accrued and other current liabilities	Accrued and other current liabilities		Accrued and other current liabilities
Operating lease, weighted average discount rate	4.10%	3.80%		4.10%
Operating lease, lessee, remaining lease term (in years)	19 years			19 years
Operating lease, weighted average remaining lease term (in years)	9 years			9 years
Operating lease cost	$ 519	$ 570	$ 536
Cash paid for operating leases	454	447	423
Leased assets obtained in exchange for new operating lease liabilities	383	312	248
Additional operating leases, not yet commenced	193			$ 193
Refining
Lease description [Line Items]
Exit costs incurred	179	334	187	700
Accelerated lease amortization costs | Refining
Lease description [Line Items]
Exit costs incurred	$ 38	$ 110	$ 91	$ 239
Minimum
Lease description [Line Items]
Operating lease, extension term (in years)	1 year			1 year
Additional operating leases, not yet commenced, term of contract	2 years			2 years
Maximum
Lease description [Line Items]
Operating lease, extension term (in years)	20 years			20 years
Additional operating leases, not yet commenced, term of contract	20 years			20 years

Leases - Schedule of lease matu

Leases - Schedule of lease maturity (Details) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Leases [Abstract]
2025	$ 410
2026	337
2027	286
2028	199
2029	117
Thereafter	818
Total lease payments	2,167
Less: Imputed interest	(393)
Present value of lease liabilities	$ 1,774	$ 1,769

Financial Instruments and Fai_3

Financial Instruments and Fair Value Measurements - Summary of derivative and non-derivative financial instruments outstanding measured at fair value on a recurring basis (Details) - Fair value, inputs, level 2 - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Estimated fair value and carrying value of non-derivative financial instruments [Line Items]
Derivative assets	$ 285	$ 229
Derivative liabilities	222	479
Derivatives designated as hedges: | Prepaid expenses and other current assets | Commodities
Estimated fair value and carrying value of non-derivative financial instruments [Line Items]
Derivative assets	14	1
Derivatives designated as hedges: | Prepaid expenses and other current assets | Foreign currency
Estimated fair value and carrying value of non-derivative financial instruments [Line Items]
Derivative assets	146	44
Derivatives designated as hedges: | Prepaid expenses and other current assets | Interest rates
Estimated fair value and carrying value of non-derivative financial instruments [Line Items]
Derivative assets	16	38
Derivatives designated as hedges: | Other assets | Commodities
Estimated fair value and carrying value of non-derivative financial instruments [Line Items]
Derivative assets	7	0
Derivatives designated as hedges: | Other assets | Foreign currency
Estimated fair value and carrying value of non-derivative financial instruments [Line Items]
Derivative assets	66	45
Derivatives designated as hedges: | Accrued and other current liabilities | Commodities
Estimated fair value and carrying value of non-derivative financial instruments [Line Items]
Derivative liabilities	14	109
Derivatives designated as hedges: | Accrued and other current liabilities | Foreign currency
Estimated fair value and carrying value of non-derivative financial instruments [Line Items]
Derivative liabilities	9	40
Derivatives designated as hedges: | Accrued and other current liabilities | Interest rates
Estimated fair value and carrying value of non-derivative financial instruments [Line Items]
Derivative liabilities	36	31
Derivatives designated as hedges: | Other liabilities | Commodities
Estimated fair value and carrying value of non-derivative financial instruments [Line Items]
Derivative liabilities	5	33
Derivatives designated as hedges: | Other liabilities | Foreign currency
Estimated fair value and carrying value of non-derivative financial instruments [Line Items]
Derivative liabilities	0	32
Derivatives designated as hedges: | Other liabilities | Interest rates
Estimated fair value and carrying value of non-derivative financial instruments [Line Items]
Derivative liabilities	146	172
Derivatives not designated as hedges: | Prepaid expenses and other current assets | Commodities
Estimated fair value and carrying value of non-derivative financial instruments [Line Items]
Derivative assets	18	98
Derivatives not designated as hedges: | Prepaid expenses and other current assets | Foreign currency
Estimated fair value and carrying value of non-derivative financial instruments [Line Items]
Derivative assets	16	3
Derivatives not designated as hedges: | Other assets | Commodities
Estimated fair value and carrying value of non-derivative financial instruments [Line Items]
Derivative assets	2	0
Derivatives not designated as hedges: | Accrued and other current liabilities | Commodities
Estimated fair value and carrying value of non-derivative financial instruments [Line Items]
Derivative liabilities	11	52
Derivatives not designated as hedges: | Accrued and other current liabilities | Foreign currency
Estimated fair value and carrying value of non-derivative financial instruments [Line Items]
Derivative liabilities	$ 1	$ 10

Financial Instruments and Fai_4

Financial Instruments and Fair Value Measurements - Carrying value and estimated fair value of non-derivative financial instruments (Details) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Estimated fair value and carrying value of non-derivative financial instruments [Line Items]
Precious metal financings, carrying value	$ 119	$ 117
Nonrecurring | Non-derivatives
Estimated fair value and carrying value of non-derivative financial instruments [Line Items]
Precious metal financings, carrying value	119	117
Precious metal financings, fair value	122	114
Long-term debt, carrying value	10,521	10,316
Long-term debt, fair value	9,048	9,225
Total liabilities, carrying value	10,640	10,433
Total liabilities, fair value	$ 9,170	$ 9,339

Financial Instruments and Fai_5

Financial Instruments and Fair Value Measurements - Summary of commodity derivatives (Details) renewableIdentificationNumber-RIN in Millions, ozt in Millions, bbl in Millions, MWh in Millions, MMBTU in Millions	Dec. 31, 2024 bbl MMBTU MWh renewableIdentificationNumber-RIN ozt	Dec. 31, 2023 ozt bbl MWh MMBTU renewableIdentificationNumber-RIN
Derivatives designated as hedges: | Natural gas
Derivative [Line Items]
Derivative, nonmonetary notional amount | MMBTU	62	72
Derivatives designated as hedges: | Ethane
Derivative [Line Items]
Derivative, nonmonetary notional amount	14	18
Derivatives designated as hedges: | Power
Derivative [Line Items]
Derivative, nonmonetary notional amount | MWh	0	1
Derivatives designated as hedges: | Refined products
Derivative [Line Items]
Derivative, nonmonetary notional amount	0	1
Derivatives not designated as hedges: | Crude oil
Derivative [Line Items]
Derivative, nonmonetary notional amount	0	12
Derivatives not designated as hedges: | Refined products
Derivative [Line Items]
Derivative, nonmonetary notional amount	6	16
Derivatives not designated as hedges: | Precious metals
Derivative [Line Items]
Derivative, nonmonetary notional amount | ozt	0	1
Derivatives not designated as hedges: | Renewable Identification Numbers
Derivative [Line Items]
Derivative, nonmonetary notional amount | renewableIdentificationNumber-RIN	0	59

Financial Instruments and Fai_6

Financial Instruments and Fair Value Measurements - Summary of interest rate hedges (Details) - Interest rates - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Cash flow hedges
Derivative [Line Items]
Notional amount	$ 0	$ 200
Fair value hedges
Derivative [Line Items]
Notional amount	$ 2,158	$ 2,171

Financial Instruments and Fai_7

Financial Instruments and Fair Value Measurements - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Derivative [Line Items]
Foreign currency translation	$ 15	$ (34)	$ (14)
Amount of marketable securities classified as cash and cash equivalents	2,610	$ 2,432
Interest expense
Derivative [Line Items]
Pre-tax unrealized gain (loss) to be reclassified to earnings over the next twelve months	$ 4

Financial Instruments and Fai_8

Financial Instruments and Fair Value Measurements - Summary of foreign currency hedges (Details) - Foreign currency - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Derivatives not designated as hedges:
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Notional amount	$ 772	$ 555
Net investment hedges | Derivatives designated as hedges:
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Notional amount	3,256	3,289
Cash flow hedges | Derivatives designated as hedges:
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Notional amount	$ 300	$ 1,150

Financial Instruments and Fai_9

Financial Instruments and Fair Value Measurements - Pretax impact of derivative instruments on earnings and other comprehensive income (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Derivative Instruments, Gain (Loss) [Line Items]
Gain (Loss) Recognized in AOCI	$ 226	$ (284)	$ 625
Gain (Loss) Reclassified from AOCI to Income	102	69	(128)
Additional Gain (Loss) Recognized in Income	$ 70	$ 79	$ (168)
Derivative, gain (loss), statement of income or comprehensive income [Extensible Enumeration]	Cost of sales, Interest Expense, Nonoperating, Other income (expense), net, Revenue from Contract with Customer, Excluding Assessed Tax	Cost of sales, Interest Expense, Nonoperating, Other income (expense), net, Revenue from Contract with Customer, Excluding Assessed Tax	Cost of sales, Interest Expense, Nonoperating, Other income (expense), net, Revenue from Contract with Customer, Excluding Assessed Tax
Derivative, gain (loss), reclassified from AOCI into income, effective portion, statement of income or comprehensive income [Extensible Enumeration]	Cost of sales, Interest Expense, Nonoperating, Other income (expense), net, Revenue from Contract with Customer, Excluding Assessed Tax	Cost of sales, Interest Expense, Nonoperating, Other income (expense), net, Revenue from Contract with Customer, Excluding Assessed Tax	Cost of sales, Interest Expense, Nonoperating, Other income (expense), net, Revenue from Contract with Customer, Excluding Assessed Tax
Derivatives designated as hedges: | Commodities
Derivative Instruments, Gain (Loss) [Line Items]
Gain (Loss) Recognized in AOCI			$ 21
Gain (Loss) Reclassified from AOCI to Income			(59)
Additional Gain (Loss) Recognized in Income			0
Derivatives designated as hedges: | Commodities | Sales and other operating revenues
Derivative Instruments, Gain (Loss) [Line Items]
Gain (Loss) Recognized in AOCI	$ (2)	$ (2)
Gain (Loss) Reclassified from AOCI to Income	4	0
Additional Gain (Loss) Recognized in Income	0	0
Derivatives designated as hedges: | Commodities | Cost of sales
Derivative Instruments, Gain (Loss) [Line Items]
Gain (Loss) Recognized in AOCI	11	(157)
Gain (Loss) Reclassified from AOCI to Income	129	33
Additional Gain (Loss) Recognized in Income	0	0
Derivatives designated as hedges: | Foreign currency
Derivative Instruments, Gain (Loss) [Line Items]
Gain (Loss) Recognized in AOCI	206	(142)	308
Gain (Loss) Reclassified from AOCI to Income	(35)	31	(75)
Additional Gain (Loss) Recognized in Income	59	70	69
Derivatives designated as hedges: | Interest rates
Derivative Instruments, Gain (Loss) [Line Items]
Gain (Loss) Recognized in AOCI	11	17	296
Gain (Loss) Reclassified from AOCI to Income	4	5	6
Additional Gain (Loss) Recognized in Income	(64)	(20)	(227)
Derivatives not designated as hedges: | Commodities | Sales and other operating revenues
Derivative Instruments, Gain (Loss) [Line Items]
Gain (Loss) Recognized in AOCI	0	0	0
Gain (Loss) Reclassified from AOCI to Income	0	0	0
Additional Gain (Loss) Recognized in Income	(21)	188	72
Derivatives not designated as hedges: | Commodities | Cost of sales
Derivative Instruments, Gain (Loss) [Line Items]
Gain (Loss) Recognized in AOCI	0	0	0
Gain (Loss) Reclassified from AOCI to Income	0	0	0
Additional Gain (Loss) Recognized in Income	53	(130)	(22)
Derivatives not designated as hedges: | Foreign currency
Derivative Instruments, Gain (Loss) [Line Items]
Gain (Loss) Recognized in AOCI	0	0	0
Gain (Loss) Reclassified from AOCI to Income	0	0	0
Additional Gain (Loss) Recognized in Income	$ 43	$ (29)	$ (60)

Pension and Other Post-retire_3

Pension and Other Post-retirement Benefits - Pension changes in PBO and plan assets (Details) - Pension Plan - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
U.S.
Change in benefit obligation:
Benefit obligation, beginning of period	$ 1,155	$ 1,140
Service cost	52	51	$ 48
Interest cost	62	57	48
Actuarial loss (gain)	60	(13)
Benefits paid	(97)	(80)
Participant contributions	0	0
Settlement	0	0
Foreign exchange effects	0	0
Benefit obligation, end of period	1,232	1,155	1,140
Change in plan assets:
Fair value of plan assets, beginning of period	960	1,021
Actual return on plan assets	130	10
Company contributions	43	9
Benefits paid	(97)	(80)
Participant contributions	0	0
Settlement	0	0
Foreign exchange effects	0	0
Fair value of plan assets, end of period	1,036	960	1,021
Funded status of continuing operations, end of period	(196)	(195)
Non-U.S.
Change in benefit obligation:
Benefit obligation, beginning of period	1,363	1,276
Service cost	21	22	35
Interest cost	52	51	26
Actuarial loss (gain)	88	19
Benefits paid	(59)	(53)
Participant contributions	2	2
Settlement	(3)	(1)
Foreign exchange effects	(75)	47
Benefit obligation, end of period	1,389	1,363	1,276
Change in plan assets:
Fair value of plan assets, beginning of period	705	733
Actual return on plan assets	112	(53)
Company contributions	51	51
Benefits paid	(59)	(53)
Participant contributions	2	2
Settlement	(3)	(1)
Foreign exchange effects	(38)	26
Fair value of plan assets, end of period	770	705	$ 733
Funded status of continuing operations, end of period	$ (619)	$ (658)

Pension and Other Post-retire_4

Pension and Other Post-retirement Benefits - Pension amounts recognized in the consolidated balance sheets and in accumulated other comprehensive income (loss) (Details) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Amounts recognized in the consolidated balance sheets consist of: [Abstract]
Prepaid benefit cost, long-term	$ 56	$ 39
Pension Plan | U.S.
Amounts recognized in the consolidated balance sheets consist of: [Abstract]
Prepaid benefit cost, long-term	0	0
Accrued benefit liability, current	0	0
Accrued benefit liability, long-term	(196)	(195)
Funded status of continuing operations, end of period	(196)	(195)
Amounts recognized in accumulated other comprehensive income (loss): [Abstract]
Actuarial and investment loss	276	303
Prior service cost	0	0
Balance, end of period	276	303
Pension Plan | Non-U.S.
Amounts recognized in the consolidated balance sheets consist of: [Abstract]
Prepaid benefit cost, long-term	56	39
Accrued benefit liability, current	(30)	(30)
Accrued benefit liability, long-term	(645)	(667)
Funded status of continuing operations, end of period	(619)	(658)
Amounts recognized in accumulated other comprehensive income (loss): [Abstract]
Actuarial and investment loss	94	140
Prior service cost	23	27
Balance, end of period	$ 117	$ 167

Pension and Other Post-retire_5

Pension and Other Post-retirement Benefits - Pension additional information (Details) - Pension Plan - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
U.S.
Accumulated benefit obligation for defined benefit plans [Abstract]
Accumulated benefit obligation for defined benefit plans	$ 1,204	$ 1,129
Pension plans with projected benefit obligations in excess of the fair value of assets [Abstract]
Projected benefit obligations	1,232	1,155
Fair value of assets	1,036	960
Pension plans with accumulated benefit obligations in excess of the fair value of assets [Abstract]
Accumulated benefit obligations	1,201	1,129
Fair value of assets	1,033	960
Non-U.S.
Accumulated benefit obligation for defined benefit plans [Abstract]
Accumulated benefit obligation for defined benefit plans	1,268	1,252
Pension plans with projected benefit obligations in excess of the fair value of assets [Abstract]
Projected benefit obligations	793	839
Fair value of assets	118	142
Pension plans with accumulated benefit obligations in excess of the fair value of assets [Abstract]
Accumulated benefit obligations	593	718
Fair value of assets	$ 8	$ 109

Pension and Other Post-retire_6

Pension and Other Post-retirement Benefits - Pension periodic costs (Details) - Pension Plan - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
U.S.
Defined Benefit Plan Disclosure [Line Items]
Service cost	$ 52	$ 51	$ 48
Interest cost	62	57	48
Expected return on plan assets	(65)	(69)	(97)
Settlement loss	0	0	103
Actuarial loss (gain) amortization	20	18	20
Net periodic benefit (income) cost	69	57	122
Non-U.S.
Defined Benefit Plan Disclosure [Line Items]
Service cost	21	22	35
Interest cost	52	51	26
Expected return on plan assets	(28)	(28)	(18)
Prior service cost amortization	3	3	3
Actuarial loss (gain) amortization	5	(1)	7
Net periodic benefit (income) cost	$ 53	$ 47	$ 53

Pension and Other Post-retire_7

Pension and Other Post-retirement Benefits - Narrative (Details) $ in Millions	3 Months Ended	12 Months Ended
	Jun. 30, 2022 USD ($)	Dec. 31, 2024 USD ($)	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)	May 31, 2022 USD ($) retiree
U.S.
Defined Benefit Plan Disclosure [Line Items]
Expected return on plan assets		7.25%
U.S. | Minimum
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, assumptions used calculating net periodic benefit cost, expected long-term earnings (in years)		15 years
U.S. | Maximum
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, assumptions used calculating net periodic benefit cost, expected long-term earnings (in years)		20 years
U.S. | Pension Plans Included As Part of Group Annuity Contract Transfer
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, benefit obligation					$ 361
Defined benefit plan, Number of retirees and beneficiaries insurance company is required to pay | retiree					9,000
Settlement loss	$ 80
U.S. | Pension Plan
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, benefit obligation		$ 1,232	$ 1,155	$ 1,140
Settlement loss		$ 0	$ 0	$ 103
Expected return on plan assets		7.25%	7.25%	7.25%
Defined benefit plan, expected future employer contributions, next fiscal year		$ 47
Non-U.S.
Defined Benefit Plan Disclosure [Line Items]
Expected return on plan assets		4.14%
Non-U.S. | Pension Plan
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, benefit obligation		$ 1,389	$ 1,363	$ 1,276
Expected return on plan assets		4.14%	3.57%	1.85%
Defined benefit plan, expected future employer contributions, next fiscal year		$ 55
Non-U.S. | Pension Plan | Insurance arrangements | Fair Value
Defined Benefit Plan Disclosure [Line Items]
Fair Value		531	$ 474
Non-U.S. | Pension Plan | Insurance arrangements | Fair Value | Level 3
Defined Benefit Plan Disclosure [Line Items]
Fair Value		$ 531	$ 474

Pension and Other Post-retire_8

Pension and Other Post-retirement Benefits - Pension actual and target asset allocations (Details) - Pension Plan	Dec. 31, 2024	Dec. 31, 2023
Canadian plan fixed income debt securities
Defined Benefit Plan Disclosure [Line Items]
Actual asset allocation (in percent)	100%	100%
Target asset allocation (in percent)	100%	100%
United Kingdom LCC plan equity securities
Defined Benefit Plan Disclosure [Line Items]
Actual asset allocation (in percent)	25%	39%
Target asset allocation (in percent)	25%	38%
United Kingdom LCC plan fixed income debt securities
Defined Benefit Plan Disclosure [Line Items]
Actual asset allocation (in percent)	75%	61%
Target asset allocation (in percent)	75%	62%
United Kingdom Basell plans equity securities
Defined Benefit Plan Disclosure [Line Items]
Actual asset allocation (in percent)	25%	26%
Target asset allocation (in percent)	25%	25%
United Kingdom Basell plan fixed income debt securities
Defined Benefit Plan Disclosure [Line Items]
Actual asset allocation (in percent)	75%	74%
Target asset allocation (in percent)	75%	75%
United Kingdom A Schulman plan growth assets
Defined Benefit Plan Disclosure [Line Items]
Actual asset allocation (in percent)	26%	27%
Target asset allocation (in percent)	25%	25%
United Kingdom A Schulman plan matching assets
Defined Benefit Plan Disclosure [Line Items]
Actual asset allocation (in percent)	74%	73%
Target asset allocation (in percent)	75%	75%
United States plan equity securities
Defined Benefit Plan Disclosure [Line Items]
Actual asset allocation (in percent)	39%	40%
Target asset allocation (in percent)	40%	40%
Fixed income securities
Defined Benefit Plan Disclosure [Line Items]
Actual asset allocation (in percent)	48%	41%
Target asset allocation (in percent)	45%	45%
Unites States plan alternative investments
Defined Benefit Plan Disclosure [Line Items]
Actual asset allocation (in percent)	13%	19%
Target asset allocation (in percent)	15%	15%

Pension and Other Post-retire_9

Pension and Other Post-retirement Benefits - Pension future expected benefit payments (Details) - Pension Plan $ in Millions	Dec. 31, 2024 USD ($)
U.S.
Defined Benefit Plan Disclosure [Line Items]
2025	$ 165
2026	97
2027	98
2028	100
2029	100
2030 through 2034	506
Non-U.S.
Defined Benefit Plan Disclosure [Line Items]
2025	63
2026	65
2027	65
2028	66
2029	69
2030 through 2034	$ 364

Pension and Other Post-retir_10

Pension and Other Post-retirement Benefits - Pension weighted average assumptions (Details)	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
U.S.
Weighted average assumptions used in determining net benefit costs [Abstract]
Expected return on plan assets	7.25%
Non-U.S.
Weighted average assumptions used in determining net benefit costs [Abstract]
Expected return on plan assets	4.14%
Pension Plan | U.S.
Weighted average assumptions used in determining the net benefit liabilities [Abstract]
Discount rate	5.35%	5.80%
Rate of compensation increase	4.66%	4.68%
Cash balance interest credit rate	4.36%	4.54%
Weighted average assumptions used in determining net benefit costs [Abstract]
Discount rate	5.80%	5.50%	2.80%
Expected return on plan assets	7.25%	7.25%	7.25%
Rate of compensation increase	4.68%	4.65%	4.74%
Pension Plan | Non-U.S.
Weighted average assumptions used in determining the net benefit liabilities [Abstract]
Discount rate	3.66%	4%
Rate of compensation increase	3.36%	3.58%
Cash balance interest credit rate	0%	0%
Weighted average assumptions used in determining net benefit costs [Abstract]
Discount rate	4%	3.99%	1.45%
Expected return on plan assets	4.14%	3.57%	1.85%
Rate of compensation increase	3.58%	2.66%	2.64%

Pension and Other Post-retir_11

Pension and Other Post-retirement Benefits - Pension fair value of plan assets (Details) - Pension Plan - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Fair Value Measurement [Domain] | U.S. | Level 1 | Fixed income securities
Pension investments that are measured at fair value [Line Items]
Fair Value		$ 0
Fair Value Measurement [Domain] | U.S. | Level 2 | Fixed income securities
Pension investments that are measured at fair value [Line Items]
Fair Value		53
Fair Value Measurement [Domain] | U.S. | Level 3 | Fixed income securities
Pension investments that are measured at fair value [Line Items]
Fair Value		0
U.S.
Pension investments that are measured at fair value [Line Items]
Total Pension Assets	$ 1,036	960	$ 1,021
Non-U.S.
Pension investments that are measured at fair value [Line Items]
Total Pension Assets	770	705	$ 733
Fair Value | U.S.
Pension investments that are measured at fair value [Line Items]
Total Pension Assets	1,028	983
Fair Value | U.S. | Common and preferred stock
Pension investments that are measured at fair value [Line Items]
Fair Value	64	155
Fair Value | U.S. | Commingled funds measured at net asset value
Pension investments that are measured at fair value [Line Items]
Fair Value	459	342
Fair Value | U.S. | Fixed income securities
Pension investments that are measured at fair value [Line Items]
Fair Value	97	53
Fair Value | U.S. | Real estate measured at net asset value
Pension investments that are measured at fair value [Line Items]
Fair Value	63	80
Fair Value | U.S. | Hedge funds measured at net asset value
Pension investments that are measured at fair value [Line Items]
Fair Value	20	42
Fair Value | U.S. | Private equity measured at net asset value
Pension investments that are measured at fair value [Line Items]
Fair Value	46	65
Fair Value | U.S. | U.S. government securities
Pension investments that are measured at fair value [Line Items]
Fair Value	253	206
Fair Value | U.S. | Cash and cash equivalents
Pension investments that are measured at fair value [Line Items]
Fair Value	26	40
Fair Value | U.S. | Level 1
Pension investments that are measured at fair value [Line Items]
Total Pension Assets	343	401
Fair Value | U.S. | Level 1 | Common and preferred stock
Pension investments that are measured at fair value [Line Items]
Fair Value	64	155
Fair Value | U.S. | Level 1 | Fixed income securities
Pension investments that are measured at fair value [Line Items]
Fair Value	0
Fair Value | U.S. | Level 1 | U.S. government securities
Pension investments that are measured at fair value [Line Items]
Fair Value	253	206
Fair Value | U.S. | Level 1 | Cash and cash equivalents
Pension investments that are measured at fair value [Line Items]
Fair Value	26	40
Fair Value | U.S. | Level 2
Pension investments that are measured at fair value [Line Items]
Total Pension Assets	97	53
Fair Value | U.S. | Level 2 | Common and preferred stock
Pension investments that are measured at fair value [Line Items]
Fair Value	0	0
Fair Value | U.S. | Level 2 | Fixed income securities
Pension investments that are measured at fair value [Line Items]
Fair Value	97
Fair Value | U.S. | Level 2 | U.S. government securities
Pension investments that are measured at fair value [Line Items]
Fair Value	0	0
Fair Value | U.S. | Level 2 | Cash and cash equivalents
Pension investments that are measured at fair value [Line Items]
Fair Value	0	0
Fair Value | U.S. | Level 3
Pension investments that are measured at fair value [Line Items]
Total Pension Assets	0	0
Fair Value | U.S. | Level 3 | Common and preferred stock
Pension investments that are measured at fair value [Line Items]
Fair Value	0	0
Fair Value | U.S. | Level 3 | Fixed income securities
Pension investments that are measured at fair value [Line Items]
Fair Value	0
Fair Value | U.S. | Level 3 | U.S. government securities
Pension investments that are measured at fair value [Line Items]
Fair Value	0	0
Fair Value | U.S. | Level 3 | Cash and cash equivalents
Pension investments that are measured at fair value [Line Items]
Fair Value	0	0
Fair Value | Non-U.S.
Pension investments that are measured at fair value [Line Items]
Total Pension Assets	769	703
Fair Value | Non-U.S. | Commingled funds measured at net asset value
Pension investments that are measured at fair value [Line Items]
Fair Value	237	228
Fair Value | Non-U.S. | Cash and cash equivalents
Pension investments that are measured at fair value [Line Items]
Fair Value	1	1
Fair Value | Non-U.S. | Insurance arrangements
Pension investments that are measured at fair value [Line Items]
Fair Value	531	474
Fair Value | Non-U.S. | Level 1
Pension investments that are measured at fair value [Line Items]
Total Pension Assets	1	1
Fair Value | Non-U.S. | Level 1 | Cash and cash equivalents
Pension investments that are measured at fair value [Line Items]
Fair Value	1	1
Fair Value | Non-U.S. | Level 1 | Insurance arrangements
Pension investments that are measured at fair value [Line Items]
Fair Value	0	0
Fair Value | Non-U.S. | Level 2
Pension investments that are measured at fair value [Line Items]
Total Pension Assets	0	0
Fair Value | Non-U.S. | Level 2 | Cash and cash equivalents
Pension investments that are measured at fair value [Line Items]
Fair Value	0	0
Fair Value | Non-U.S. | Level 2 | Insurance arrangements
Pension investments that are measured at fair value [Line Items]
Fair Value	0	0
Fair Value | Non-U.S. | Level 3
Pension investments that are measured at fair value [Line Items]
Total Pension Assets	531	474
Fair Value | Non-U.S. | Level 3 | Cash and cash equivalents
Pension investments that are measured at fair value [Line Items]
Fair Value	0	0
Fair Value | Non-U.S. | Level 3 | Insurance arrangements
Pension investments that are measured at fair value [Line Items]
Fair Value	$ 531	$ 474

Pension and Other Post-retir_12

Pension and Other Post-retirement Benefits - Pension fair value of investments in entities that calculate net asset value per share (Details) - Pension Plan - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
U.S.
Fair value of investments in entities that calculate net asset value per share [Line Items]
Total Pension Assets	$ 1,036	$ 960	$ 1,021
U.S. | Commingled fund investing in Domestic Equity
Fair value of investments in entities that calculate net asset value per share [Line Items]
Unfunded Commitments	0	0
U.S. | Commingled fund investing in International Equity
Fair value of investments in entities that calculate net asset value per share [Line Items]
Unfunded Commitments	$ 0	$ 0
Redemption Notice Period	3 days	3 days
U.S. | Commingled fund investing in Fixed Income
Fair value of investments in entities that calculate net asset value per share [Line Items]
Unfunded Commitments	$ 0	$ 0
U.S. | Real Estate
Fair value of investments in entities that calculate net asset value per share [Line Items]
Unfunded Commitments	$ 10	$ 11
Remaining Life	10 years	10 years
U.S. | Hedge Funds
Fair value of investments in entities that calculate net asset value per share [Line Items]
Unfunded Commitments	$ 0	$ 0
U.S. | Private Equity
Fair value of investments in entities that calculate net asset value per share [Line Items]
Unfunded Commitments	$ 13	$ 14
Remaining Life	10 years	10 years
U.S. | Minimum | Commingled fund investing in Domestic Equity
Fair value of investments in entities that calculate net asset value per share [Line Items]
Trade to Settlement Terms	1 day	1 day
Redemption Notice Period	3 days	3 days
U.S. | Minimum | Commingled fund investing in International Equity
Fair value of investments in entities that calculate net asset value per share [Line Items]
Trade to Settlement Terms	1 day	1 day
U.S. | Minimum | Commingled fund investing in Fixed Income
Fair value of investments in entities that calculate net asset value per share [Line Items]
Trade to Settlement Terms	1 day	1 day
Redemption Notice Period	3 days	3 days
U.S. | Minimum | Real Estate
Fair value of investments in entities that calculate net asset value per share [Line Items]
Trade to Settlement Terms	15 days	15 days
Redemption Notice Period	45 days	45 days
U.S. | Minimum | Hedge Funds
Fair value of investments in entities that calculate net asset value per share [Line Items]
Trade to Settlement Terms	10 days	10 days
Redemption Notice Period	20 days	20 days
U.S. | Maximum | Commingled fund investing in Domestic Equity
Fair value of investments in entities that calculate net asset value per share [Line Items]
Trade to Settlement Terms	3 days	3 days
Redemption Notice Period	4 days	4 days
U.S. | Maximum | Commingled fund investing in International Equity
Fair value of investments in entities that calculate net asset value per share [Line Items]
Trade to Settlement Terms	3 days	3 days
U.S. | Maximum | Commingled fund investing in Fixed Income
Fair value of investments in entities that calculate net asset value per share [Line Items]
Trade to Settlement Terms	3 days	3 days
Redemption Notice Period	7 days	7 days
U.S. | Maximum | Real Estate
Fair value of investments in entities that calculate net asset value per share [Line Items]
Trade to Settlement Terms	25 days	25 days
Redemption Notice Period	90 days	90 days
U.S. | Maximum | Hedge Funds
Fair value of investments in entities that calculate net asset value per share [Line Items]
Trade to Settlement Terms	30 days	30 days
Redemption Notice Period	90 days	90 days
U.S. | Commingled fund investing in Domestic Equity
Fair value of investments in entities that calculate net asset value per share [Line Items]
Fair Value	$ 187	$ 168
U.S. | Commingled fund investing in International Equity
Fair value of investments in entities that calculate net asset value per share [Line Items]
Fair Value	155	68
U.S. | Commingled fund investing in Fixed Income
Fair value of investments in entities that calculate net asset value per share [Line Items]
Fair Value	117	106
U.S. | Real estate measured at net asset value | Real Estate
Fair value of investments in entities that calculate net asset value per share [Line Items]
Fair Value	63	80
U.S. | Hedge Funds
Fair value of investments in entities that calculate net asset value per share [Line Items]
Fair Value	20	42
U.S. | Private Equity
Fair value of investments in entities that calculate net asset value per share [Line Items]
Fair Value	46	65
U.S. | Fair value measured at net asset value per share
Fair value of investments in entities that calculate net asset value per share [Line Items]
Total Pension Assets	588	529
Unfunded Commitments	23	25
Non-U.S.
Fair value of investments in entities that calculate net asset value per share [Line Items]
Total Pension Assets	770	705	$ 733
Non-U.S. | Commingled fund investing in Domestic Equity
Fair value of investments in entities that calculate net asset value per share [Line Items]
Unfunded Commitments	0	0
Non-U.S. | Commingled fund investing in International Equity
Fair value of investments in entities that calculate net asset value per share [Line Items]
Unfunded Commitments	0	0
Non-U.S. | Commingled fund investing in Fixed Income
Fair value of investments in entities that calculate net asset value per share [Line Items]
Unfunded Commitments	$ 0	$ 0
Redemption Notice Period	3 days	3 days
Non-U.S. | Minimum | Commingled fund investing in Domestic Equity
Fair value of investments in entities that calculate net asset value per share [Line Items]
Redemption Frequency (if currently eligible)	1 day	1 day
Trade to Settlement Terms	1 day	1 day
Redemption Notice Period	1 day	1 day
Non-U.S. | Minimum | Commingled fund investing in International Equity
Fair value of investments in entities that calculate net asset value per share [Line Items]
Redemption Frequency (if currently eligible)	1 day	1 day
Trade to Settlement Terms	1 day	1 day
Redemption Notice Period	1 day	1 day
Non-U.S. | Minimum | Commingled fund investing in Fixed Income
Fair value of investments in entities that calculate net asset value per share [Line Items]
Trade to Settlement Terms	1 day	1 day
Non-U.S. | Maximum | Commingled fund investing in Domestic Equity
Fair value of investments in entities that calculate net asset value per share [Line Items]
Redemption Frequency (if currently eligible)	7 days	7 days
Trade to Settlement Terms	3 days	3 days
Redemption Notice Period	3 days	3 days
Non-U.S. | Maximum | Commingled fund investing in International Equity
Fair value of investments in entities that calculate net asset value per share [Line Items]
Redemption Frequency (if currently eligible)	7 days	7 days
Trade to Settlement Terms	3 days	3 days
Redemption Notice Period	3 days	3 days
Non-U.S. | Maximum | Commingled fund investing in Fixed Income
Fair value of investments in entities that calculate net asset value per share [Line Items]
Trade to Settlement Terms	3 days	3 days
Non-U.S. | Commingled fund investing in Domestic Equity
Fair value of investments in entities that calculate net asset value per share [Line Items]
Fair Value	$ 21	$ 23
Non-U.S. | Commingled fund investing in International Equity
Fair value of investments in entities that calculate net asset value per share [Line Items]
Fair Value	23	24
Non-U.S. | Commingled fund investing in Fixed Income
Fair value of investments in entities that calculate net asset value per share [Line Items]
Fair Value	193	181
Non-U.S. | Fair value measured at net asset value per share
Fair value of investments in entities that calculate net asset value per share [Line Items]
Total Pension Assets	237	228
Unfunded Commitments	$ 0	$ 0

Pension and Other Post-retir_13

Pension and Other Post-retirement Benefits - Other postretirement benefits plans changes in benefit obligation and plan assets (Details) - Other postretirement benefits plans - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
United States
Change in benefit obligation:
Benefit obligation, beginning of period	$ 142	$ 153
Service cost	0	1	$ 1
Interest cost	8	7	5
Actuarial loss (gain)	8	0
Benefits paid	(24)	(25)
Participant contributions	5	6
Foreign exchange effects	0	0
Benefit obligation, end of period	139	142	153
Change in plan assets:
Fair value of plan assets, beginning of period	0	0
Employer contributions	19	19
Participant contributions	5	6
Benefits paid	(24)	(25)
Fair value of plan assets, end of period	0	0	0
Funded status of plan assets [Abstract]
Funded status of continuing operations, end of period	(139)	(142)
Non-U.S.
Change in benefit obligation:
Benefit obligation, beginning of period	39	41
Service cost	1	1	2
Interest cost	2	2	1
Actuarial loss (gain)	15	(4)
Benefits paid	(1)	(1)
Participant contributions	0	0
Foreign exchange effects	(4)	0
Benefit obligation, end of period	52	39	41
Change in plan assets:
Fair value of plan assets, beginning of period	0	0
Employer contributions	1	1
Participant contributions	0	0
Benefits paid	(1)	(1)
Fair value of plan assets, end of period	0	0	$ 0
Funded status of plan assets [Abstract]
Funded status of continuing operations, end of period	$ (52)	$ (39)

Pension and Other Post-retir_14

Pension and Other Post-retirement Benefits - Other postretirement benefits plans amounts recognized in the consolidated balance sheets and in accumulated other comprehensive income (loss) (Details) - Other postretirement benefits plans - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
U.S.
Amounts recognized in the consolidated balance sheets consist of: [Abstract]
Accrued benefit liability, current	$ (13)	$ (14)
Accrued benefit liability, long-term	(126)	(128)
Funded status of continuing operations, end of period	(139)	(142)
Amounts recognized in accumulated other comprehensive income (loss): [Abstract]
Actuarial and investment income	61	79
Prior service cost	0	0
Balance, end of period	61	79
Non-U.S.
Amounts recognized in the consolidated balance sheets consist of: [Abstract]
Accrued benefit liability, current	(1)	(1)
Accrued benefit liability, long-term	(51)	(38)
Funded status of continuing operations, end of period	(52)	(39)
Amounts recognized in accumulated other comprehensive income (loss): [Abstract]
Actuarial and investment income	8	21
Prior service cost	(1)	(1)
Balance, end of period	$ 7	$ 20

Pension and Other Post-retir_15

Pension and Other Post-retirement Benefits - Other postretirement benefits plans net periodic costs (Details) - Other postretirement benefits plans - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
U.S.
Defined Benefit Plan Disclosure [Line Items]
Service cost	$ 0	$ 1	$ 1
Interest cost	8	7	5
Actuarial gain amortization	(9)	(10)	(5)
Net periodic benefit (income) cost	(1)	(2)	1
Non-U.S.
Defined Benefit Plan Disclosure [Line Items]
Service cost	1	1	2
Interest cost	2	2	1
Actuarial gain amortization	(1)	(1)	0
Net periodic benefit (income) cost	$ 2	$ 2	$ 3

Pension and Other Post-retir_16

Pension and Other Post-retirement Benefits - Other postretirement benefits plans assumed health care cost trend rates (Details) - Other postretirement benefits plans	Dec. 31, 2024	Dec. 31, 2023
U.S.
Defined Benefit Plan Disclosure [Line Items]
Immediate trend rate	6.50%	6.30%
Ultimate trend rate (the rate to which the cost trend rate is assumed to decline)	4.50%	4.50%
Canada
Defined Benefit Plan Disclosure [Line Items]
Immediate trend rate	4.50%	4.50%
Ultimate trend rate (the rate to which the cost trend rate is assumed to decline)	4.50%	4.50%
France
Defined Benefit Plan Disclosure [Line Items]
Immediate trend rate	5%	4.80%
Ultimate trend rate (the rate to which the cost trend rate is assumed to decline)	5%	4.80%

Pension and Other Post-retir_17

Pension and Other Post-retirement Benefits - Other postretirement benefits plans assumptions used to determine net benefit liabilities and costs (Details) - Other postretirement benefits plans	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
U.S.
Weighted average assumptions used in determining the net benefit liabilities [Abstract]
Discount rate	5.24%	5.74%
Rate of compensation increase	4.09%	4.13%
Weighted average assumptions used in determining net benefit costs for the year [Abstract]
Discount rate	5.74%	5.44%	2.75%
Rate of compensation increase	4.13%	4.16%	4.18%
Non-U.S.
Weighted average assumptions used in determining the net benefit liabilities [Abstract]
Discount rate	3.53%	4.36%
Rate of compensation increase	0%	0%
Weighted average assumptions used in determining net benefit costs for the year [Abstract]
Discount rate	4.36%	3.95%	1.47%
Rate of compensation increase	0%	0%	0%

Pension and Other Post-retir_18

Pension and Other Post-retirement Benefits - Other postretirement benefits plans future expected benefit payments (Details) - Other postretirement benefits plans $ in Millions	Dec. 31, 2024 USD ($)
U.S.
Defined Benefit Plan Disclosure [Line Items]
2025	$ 13
2026	14
2027	13
2028	13
2029	13
2030 through 2034	56
Non-U.S.
Defined Benefit Plan Disclosure [Line Items]
2025	1
2026	1
2027	1
2028	1
2029	2
2030 through 2034	$ 9

Pension and Other Post-retir_19

Pension and Other Post-retirement Benefits - AOCI paragraph (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Defined Benefit Plan Disclosure [Line Items]
Deferred income taxes provision related to pension and other postretirement benefit amounts in accumulated other comprehensive income (loss)	$ 91	$ 90
Pension Plan | Discount rate assumption change for defined benefit plans
Defined Benefit Plan Disclosure [Line Items]
Actuarial gain (loss) arising during the period	1	(146)
Other postretirement benefits plans | Discount rate assumption change for defined benefit plans
Defined Benefit Plan Disclosure [Line Items]
Actuarial gain (loss) arising during the period	$ (22)	$ 4

Pension and Other Post-retir_20

Pension and Other Post-retirement Benefits - Defined contribution plan (Details) - Contribution plan - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
United States
Defined Contribution Plan Disclosure [Line Items]
Employee Savings Plans	$ 60	$ 57	$ 53
Non-U.S.
Defined Contribution Plan Disclosure [Line Items]
Employee Savings Plans	$ 11	$ 9	$ 8

Incentive and Share-Based Com_3

Incentive and Share-Based Compensation - Narrative (Details) $ / shares in Units, $ in Millions

1 Months Ended

3 Months Ended

12 Months Ended

Jun. 30, 2022 $ / shares

Dec. 31, 2024 USD ($) $ / shares shares

Sep. 30, 2024 $ / shares

Jun. 30, 2024 $ / shares

Mar. 31, 2024 $ / shares

Dec. 31, 2023 $ / shares

Sep. 30, 2023 $ / shares

Jun. 30, 2023 $ / shares

Mar. 31, 2023 $ / shares

Dec. 31, 2024 USD ($) $ / shares shares

Dec. 31, 2023 USD ($) $ / shares

Dec. 31, 2022 USD ($) $ / shares

Share-based compensation arrangements [Line Items]

Dividend per ordinary share (usd per share) | $ / shares

$ 5.20

$ 1.34

$ 1.34

$ 1.34

$ 1.25

$ 1.25

$ 1.25

$ 1.25

$ 1.19

$ 5.27

$ 4.94

Stockholders' equity, redemption ratio

1

Restricted stock units

Share-based compensation arrangements [Line Items]

Vesting period (in years)

3 years

Weighted average fair value (usd per share) | $ / shares

$ 95.78

$ 93.93

$ 96.14

Total fair value of vested restricted stock units

$ 45

$ 30

$ 20

Unrecognized compensation cost related to award, restricted stock units

$ 51

$ 51

Weighted average remaining expense period (in years)

1 year 3 months 10 days

Stock options

Share-based compensation arrangements [Line Items]

Vesting period (in years)

3 years

Weighted average remaining expense period (in years)

1 year

Contractual term (in years)

10 years

Reduction in stock exercise price (usd per share) | $ / shares

$ 5.20

Aggregate intrinsic value of stock options exercised during the period

$ 10

$ 8

$ 6

Share-based payment arrangement, nonvested award, option, cost not yet recognized, amount

$ 2

2

Cash received from stock option exercises

$ 52

Tax benefit from stock option exercises

2 million

Performance share units

Share-based compensation arrangements [Line Items]

Share-based compensation arrangement by share-based payment award, number of shares authorized (in shares) | shares

6,245,410

6,245,410

Weighted average fair value (usd per share) | $ / shares

$ 108.56

Total fair value of vested restricted stock units

$ 43

Unrecognized compensation cost related to award, restricted stock units

$ 38

$ 38

Weighted average remaining expense period (in years)

1 year 9 months 18 days

Performance period (in years)

3 years

Target shares payout (in percent)

2

Performance share units | Minimum

Share-based compensation arrangements [Line Items]

Payout of awards, percent of target shares granted (in percent)

0

Performance share units | Maximum

Share-based compensation arrangements [Line Items]

Payout of awards, percent of target shares granted (in percent)

2

Long-term incentive plan

Share-based compensation arrangements [Line Items]

Share-based compensation arrangement by share-based payment award, number of shares authorized (in shares) | shares

30,000,000

30,000,000

Incentive and Share-Based Com_4

Incentive and Share-Based Compensation - Long-Term Incentive Plan (Details) - Long-term incentive plan - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Share-based compensation arrangements [Line Items]
Compensation Expense:	$ 91	$ 91	$ 70
Tax Benefit:	21	21	17
Restricted stock units
Share-based compensation arrangements [Line Items]
Compensation Expense:	60	44	33
Tax Benefit:	14	10	8
Stock options
Share-based compensation arrangements [Line Items]
Compensation Expense:	4	10	8
Tax Benefit:	1	2	2
Performance share units
Share-based compensation arrangements [Line Items]
Compensation Expense:	27	37	29
Tax Benefit:	$ 6	$ 9	$ 7

Incentive and Share-Based Com_5

Incentive and Share-Based Compensation - RSU activity (Details) - Restricted stock units - $ / shares shares in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Number of Units (in thousands)
Outstanding at beginning of period (in shares)	994
Granted (in shares)	785
Vested (in shares)	(481)
Forfeited (in shares)	(62)
Outstanding at end of period (in shares)	1,236	994
Weighted Average  Grant Date Fair Value (per share)
Outstanding at beginning of period (in dollars per share)	$ 96.67
Weighted average fair value (usd per share)	95.78	$ 93.93	$ 96.14
Vested (in dollars per share)	98.95
Forfeited (in dollars per share)	99.32
Outstanding at end of period (in dollars per share)	$ 95.09	$ 96.67

Incentive and Share-Based Com_6

Incentive and Share-Based Compensation - Stock options (Details) - Stock options - USD ($) $ / shares in Units, shares in Thousands, $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Share-based compensation disclosures [Line Items]
Weighted average fair value (usd per share)		$ 24.85	$ 24.27
Fair value assumptions:
Dividend yield (in percent)		5%	4.30%
Expected volatility, minimum (in percent)		39.90%	39.10%
Expected volatility, maximum (in percent)		40.20%	40.70%
Risk-free interest rate, minimum (in percent)		3.50%	1.90%
Risk-free interest rate, maximum (in percent)		4.70%	4.20%
Weighted average expected term, in years		5 years 8 months 12 days	5 years 4 months 24 days
Number of Shares (in thousands)
Outstanding at beginning of period (in shares)	2,644
Granted (in shares)	0
Exercised (in shares)	(631)
Forfeited (in shares)	(29)
Expired (in shares)	(41)
Outstanding at end of period (in shares)	1,943	2,644
Exercisable at end of period (in shares)	1,555
Weighted Average Exercise Price
Outstanding at beginning of period (in dollars per share)	$ 90.01
Granted (in dollars per share)	0
Exercised (in dollars per share)	84.98
Forfeited (in dollars per share)	92.78
Expired (in dollars per share)	99.87
Outstanding at end of period (in dollars per share)	91.40	$ 90.01
Exercisable at end of period (in dollars per share)	$ 90.73
Additional disclosures, stock options [Abstract]
Weighted average remaining term, outstanding options	5 years 1 month 6 days
Weighted average remaining term, exercisable options	4 years 4 months 24 days
Aggregate intrinsic value, outstanding options	$ 0
Aggregate intrinsic value, exercisable options	$ 0

Incentive and Share-Based Com_7

Incentive and Share-Based Compensation - Performance Share Units ("PSUs") (Details) - Performance share units - $ / shares shares in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Fair value assumptions:
Weighted average fair value (usd per share)	$ 108.56
Number of Units (in thousands)
Outstanding at beginning of period (in shares)	853
Granted (in shares)	716
Vested (in shares)	(538)
Forfeited (in shares)	(42)
Outstanding at end of period (in shares)	989	853
Weighted Average  Grant Date Fair Value (per share)
Outstanding at beginning of period (in dollars per share)	$ 116.39
Granted (usd per share)	108.56
Vested (in dollars per share)	117.39
Forfeited (in dollars per share)	100.95
Outstanding at end of period (in dollars per share)	101.94	$ 116.39
Monte-Carlo Simulation
Fair value assumptions:
Weighted average fair value (usd per share)	$ 133.75	$ 128.95	$ 122.15
Expected volatility of LyondellBasell N.V. common stock (in percent)	28.60%	38.04%	48.71%
Average correlation coefficient of peer companies (in percent)	0.56	0.52	0.59
Risk-free interest rate (in percent)	4.47%	4.39%	1.69%
Weighted Average  Grant Date Fair Value (per share)
Granted (usd per share)	$ 133.75	$ 128.95	$ 122.15
Minimum | Monte-Carlo Simulation
Fair value assumptions:
Expected volatility of peer companies (in percent)	24.68%	22.82%	23.12%
Maximum | Monte-Carlo Simulation
Fair value assumptions:
Expected volatility of peer companies (in percent)	43.42%	52.73%	61.28%

Income Taxes - Narrative (Detai

Income Taxes - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Income Tax Contingency [Line Items]
Effective tax rate (in percent)	15%
Deferred taxes on unremitted earnings of certain equity joint ventures and subsidiaries	$ 57	$ 77
Undistributed earnings of foreign subsidiaries	600
Unrecognized deferred tax liability of undistributed earnings of foreign subsidiaries	60
Tax attributes	1,968	1,438
Deferred tax assets tax attributes	420	307	$ 210
Deferred tax asset on tax attributes that more likely than not will be realized	285
Uncertain tax expense (benefit)	18	21	(74)
Audit settlement	66
Unrecognized tax benefits, decrease resulting from prior period tax positions	15	22	91
Reasonably possible decrease in unrecognized tax benefits within the next twelve months	50
Unrecognized tax benefits, income tax penalties and interest expense	15	11	1
Interest and penalties accrued on uncertain tax positions	$ 67	$ 52	$ 41
United States
Income Tax Contingency [Line Items]
Corporate income tax rate (in percent)	21%
United Kingdom
Income Tax Contingency [Line Items]
Corporate income tax rate (in percent)	25%

Income Taxes - Components of in

Income Taxes - Components of income tax provision (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Current:
U.S. federal	$ 430	$ 261	$ 250
Non-U.S.	198	160	205
State	49	37	58
Total current	677	458	513
Deferred:
U.S. federal	(172)	77	369
Non-U.S.	(279)	(36)	(12)
State	14	2	12
Total deferred	(437)	43	369
Provision for income taxes before tax effects of other comprehensive income	240	501	882
Tax effects of elements of other comprehensive income:
Total income tax expense in comprehensive income	321	408	1,123
Pension and post-retirement liabilities
Tax effects of elements of other comprehensive income:
Tax effects of elements of other comprehensive income	(1)	(36)	125
Financial derivatives
Tax effects of elements of other comprehensive income:
Tax effects of elements of other comprehensive income	38	(29)	57
Foreign currency translation
Tax effects of elements of other comprehensive income:
Tax effects of elements of other comprehensive income	$ 44	$ (28)	$ 59

Income Taxes - Reconciliation o

Income Taxes - Reconciliation of tax expense at US statutory rate and provision for taxes (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Income (loss) before income taxes:
U.S.	$ 1,685	$ 1,958	$ 3,289
Non-U.S.	(82)	669	1,487
Income from continuing operations before income taxes	1,603	2,627	4,776
Income tax expense (benefit), continuing operations, income tax reconciliation [Abstract]
Income tax at U.S. statutory rate	337	552	1,003
Increase (reduction) resulting from:
Non-U.S. income/(loss) taxed at different statutory rates	(102)	4	27
Return to accrual adjustments	(26)	(22)	16
State income taxes, net of federal benefit	57	33	60
Exempt income	(101)	(203)	(213)
Uncertain tax positions	18	21	(74)
Patent box ruling	0	(31)	0
Non-deductible impairment	28	62	14
Audit settlement	0	46	0
Foreign currency gain or loss	(27)	8	(6)
Cross border tax effects	19	14	12
Other, net	37	17	43
Provision for income taxes before tax effects of other comprehensive income	$ 240	$ 501	$ 882

Income Taxes - Components of de

Income Taxes - Components of deferred tax liabilities and assets (Details) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Deferred tax liabilities:
Accelerated tax depreciation	$ 2,342	$ 2,562
Investment in joint venture partnerships	455	486
Inventory	194	227
Operating lease assets	330	334
Other liabilities	78	134
Total deferred tax liabilities	3,399	3,743
Deferred tax assets:
Tax attributes	420	307	$ 210
Employee benefit plans	248	259
Operating lease liabilities	387	383
Other assets	203	182
Total deferred tax assets	1,258	1,131
Deferred tax asset valuation allowances	(135)	(78)	$ (66)
Net deferred tax assets	1,123	1,053
Net deferred tax liabilities	2,276	2,690
Deferred Tax Assets, Net [Abstract]
Deferred tax assets—long-term	259	196
Deferred tax liabilities—long-term	2,535	2,886
Net deferred tax liabilities	$ 2,276	$ 2,690

Income Taxes - Tax attributes a

Income Taxes - Tax attributes and related deferred tax asset (Details) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Tax attributes and related deferred tax assets [Line Items]
Tax attributes	$ 1,968	$ 1,438
Deferred Tax on Tax Attributes	420	307	$ 210
U.S.
Tax attributes and related deferred tax assets [Line Items]
Deferred Tax on Tax Attributes	114	151	84
Germany
Tax attributes and related deferred tax assets [Line Items]
Deferred Tax on Tax Attributes	107	3	7
United Kingdom
Tax attributes and related deferred tax assets [Line Items]
Deferred Tax on Tax Attributes	105	91	45
The Netherlands
Tax attributes and related deferred tax assets [Line Items]
Deferred Tax on Tax Attributes	35	18	13
France
Tax attributes and related deferred tax assets [Line Items]
Deferred Tax on Tax Attributes	21	23	46
Other
Tax attributes and related deferred tax assets [Line Items]
Deferred Tax on Tax Attributes	38	$ 21	$ 15
2025
Tax attributes and related deferred tax assets [Line Items]
Tax attributes	22
Deferred Tax on Tax Attributes	1
2026
Tax attributes and related deferred tax assets [Line Items]
Tax attributes	13
Deferred Tax on Tax Attributes	1
2027
Tax attributes and related deferred tax assets [Line Items]
Tax attributes	19
Deferred Tax on Tax Attributes	4
2028
Tax attributes and related deferred tax assets [Line Items]
Tax attributes	20
Deferred Tax on Tax Attributes	7
2029
Tax attributes and related deferred tax assets [Line Items]
Tax attributes	15
Deferred Tax on Tax Attributes	3
Thereafter
Tax attributes and related deferred tax assets [Line Items]
Tax attributes	549
Deferred Tax on Tax Attributes	53
Indefinite
Tax attributes and related deferred tax assets [Line Items]
Tax attributes	1,330
Deferred Tax on Tax Attributes	$ 351

Income Taxes - Valuation allowa

Income Taxes - Valuation allowances by jurisdiction (Details) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Valuation allowance [Line Items]
Valuation allowance	$ 135	$ 78	$ 66
Germany
Valuation allowance [Line Items]
Valuation allowance	43	1	0
United Kingdom
Valuation allowance [Line Items]
Valuation allowance	30	30	29
U.S.
Valuation allowance [Line Items]
Valuation allowance	24	15	11
France
Valuation allowance [Line Items]
Valuation allowance	21	23	22
Other
Valuation allowance [Line Items]
Valuation allowance	$ 17	$ 9	$ 4

Income Taxes - Unrecognized tax

Income Taxes - Unrecognized tax benefits (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Unrecognized tax benefits [Abstract]
Unrecognized tax benefit, beginning of period	$ 288	$ 271	$ 327
Additions for tax positions of current year	14	37	22
Additions for tax positions of prior years	15	2	13
Reductions for tax positions of prior years	(15)	(22)	(91)
Settlements (payments/refunds)	(66)	0	0
Unrecognized tax benefit, end of period	$ 236	$ 288	$ 271

Commitments and Contingencies -

Commitments and Contingencies - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Loss Contingencies [Line Items]
Accrual for environmental loss contingencies	$ 140	$ 124	$ 127
Minimum
Loss Contingencies [Line Items]
Site contingency, accrued liabilities	$ 1
Technology licensing contracts indemnification period (in years)	5 years
Maximum
Loss Contingencies [Line Items]
Site contingency, accrued liabilities	$ 43
Technology licensing contracts indemnification period (in years)	10 years

Commitments and Contingencies_2

Commitments and Contingencies - Accrual environmental liability (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Accrual for environmental loss contingencies [Roll Forward]
Beginning balance	$ 124	$ 127
Changes in estimates	29	5
Amounts paid	(10)	(9)
Foreign exchange effects	(3)	1
Ending balance	$ 140	$ 124
Environmental Loss Contingency, Statement of Financial Position [Extensible Enumeration]	Accrued and other current liabilities	Accrued and other current liabilities	Accrued and other current liabilities

Shareholders' Equity and Rede_3

Shareholders' Equity and Redeemable Non-controlling Interests - Dividend distribution (Details) - USD ($) $ / shares in Units, $ in Millions	1 Months Ended	3 Months Ended								12 Months Ended
	Jun. 30, 2022	Dec. 31, 2024	Sep. 30, 2024	Jun. 30, 2024	Mar. 31, 2024	Dec. 31, 2023	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Dec. 31, 2024	Dec. 31, 2023
Shareholders' Equity and Redeemable Non-controlling Interests [Abstract]
Dividend per ordinary share (usd per share)	$ 5.20	$ 1.34	$ 1.34	$ 1.34	$ 1.25	$ 1.25	$ 1.25	$ 1.25	$ 1.19	$ 5.27	$ 4.94
Aggregate Dividends Paid		$ 437	$ 437	$ 438	$ 408	$ 406	$ 407	$ 408	$ 389	$ 1,720	$ 1,610

Shareholders' Equity and Rede_4

Shareholders' Equity and Redeemable Non-controlling Interests - Narrative (Details) - USD ($) $ / shares in Units, $ in Millions	1 Months Ended				12 Months Ended
	Nov. 30, 2024	Aug. 31, 2024	May 31, 2024	Feb. 29, 2024	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022	May 31, 2023	May 31, 2022
Share repurchase authorization [Line Items]
Cash paid for shares repurchased					$ 195	$ 211	$ 420
Cumulative perpetual redeemable non-controlling interests, shares outstanding					113,053	113,075
Cumulative redeemable non-controlling interest stock redeemed during the period, in shares					22	396	1,903
Cumulative redeemable non-controlling interest stock redeemed during the period, in value					$ 1	$ 1	$ 2
Redeemable non-controlling interests, dividends per share (in dollars per share)	$ 15	$ 15	$ 15	$ 15	$ 60	$ 60	$ 60
Dividends on redeemable non-controlling interests					$ 7	$ 7	$ 7
2024 Share Repurchase Authorization
Share repurchase authorization [Line Items]
Stock repurchase authorization shares authorized to be repurchased (in shares)			34,000,000
2023 Share Repurchase Authorization
Share repurchase authorization [Line Items]
Stock repurchase authorization shares authorized to be repurchased (in shares)								34,000,000
2022 Share Repurchase Authorization
Share repurchase authorization [Line Items]
Stock repurchase authorization shares authorized to be repurchased (in shares)									34,000,000

Shareholders' Equity and Rede_5

Shareholders' Equity and Redeemable Non-controlling Interests - Share repurchase activity (Details) - USD ($) $ / shares in Units, $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Share repurchase authorization [Line Items]
Shares repurchased (in shares)	2,236,348	2,349,207	4,397,754
Average purchase price (in dollars per share)	$ 88.42	$ 89.82	$ 92.41
Total Purchase Price, Including Commissions and Fees	$ 198	$ 211	$ 406
2024 Share Repurchase Authorization
Share repurchase authorization [Line Items]
Shares repurchased (in shares)	2,236,348
Average purchase price (in dollars per share)	$ 88.42
Total Purchase Price, Including Commissions and Fees	$ 198
2023 Share Repurchase Authorization
Share repurchase authorization [Line Items]
Shares repurchased (in shares)		983,309
Average purchase price (in dollars per share)		$ 90.99
Total Purchase Price, Including Commissions and Fees		$ 89
2022 Share Repurchase Authorization
Share repurchase authorization [Line Items]
Shares repurchased (in shares)		1,365,898	2,286,216
Average purchase price (in dollars per share)		$ 88.98	$ 87.50
Total Purchase Price, Including Commissions and Fees		$ 122	$ 200
2021 Share Repurchase Authorization
Share repurchase authorization [Line Items]
Shares repurchased (in shares)			2,111,538
Average purchase price (in dollars per share)			$ 97.72
Total Purchase Price, Including Commissions and Fees			$ 206

Shareholders' Equity and Rede_6

Shareholders' Equity and Redeemable Non-controlling Interests - Ordinary shares (Details) - shares	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Ordinary shares outstanding: [Abstract]
Beginning balance (in shares)	324,483,402
Purchase of ordinary shares (in shares)	(2,236,348)	(2,349,207)	(4,397,754)
Ending balance (in shares)	323,889,832	324,483,402
Ordinary shares
Ordinary shares outstanding: [Abstract]
Beginning balance (in shares)	324,483,402	325,723,567	329,536,389
Share-based compensation (in shares)	1,278,115	793,984	291,104
Employee stock purchase plan (in shares)	364,663	315,058	293,828
Purchase of ordinary shares (in shares)	(2,236,348)	(2,349,207)	(4,397,754)
Ending balance (in shares)	323,889,832	324,483,402	325,723,567

Shareholders' Equity and Rede_7

Shareholders' Equity and Redeemable Non-controlling Interests - Treasury shares (Details) - shares	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Ordinary shares outstanding: [Abstract]
Beginning balance (in shares)	15,939,096
Purchase of ordinary shares (in shares)	2,236,348	2,349,207	4,397,754
Ending balance (in shares)	16,532,666	15,939,096
Treasury shares
Ordinary shares outstanding: [Abstract]
Beginning balance (in shares)	15,939,096	14,698,931	10,675,605
Share-based compensation (in shares)	(1,278,115)	(793,984)	(291,104)
Employee stock purchase plan (in shares)	(364,663)	(315,058)	(83,324)
Purchase of ordinary shares (in shares)	2,236,348	2,349,207	4,397,754
Ending balance (in shares)	16,532,666	15,939,096	14,698,931

Shareholders' Equity and Rede_8

Shareholders' Equity and Redeemable Non-controlling Interests - Components of accumulated other comprehensive income (loss) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Equity, Attributable to Parent, Beginning Balance	$ 12,930
Other comprehensive income (loss) before reclassifications	(95)	$ (275)	$ 671
Tax expense before reclassifications	(52)	113	(240)
Amounts reclassified from accumulated other comprehensive loss	120	78	0
Tax expense	(29)	(20)	0
Total other comprehensive income (loss), net of tax	(56)	(104)	431
Equity, Attributable to Parent, Ending Balance	12,462	12,930
AOCI Attributable to Parent
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Equity, Attributable to Parent, Beginning Balance	(1,476)	(1,372)	(1,803)
Total other comprehensive income (loss), net of tax	(56)	(104)	431
Equity, Attributable to Parent, Ending Balance	(1,532)	(1,476)	(1,372)
Financial derivatives
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Equity, Attributable to Parent, Beginning Balance	(226)	(146)	(354)
Other comprehensive income (loss) before reclassifications	51	(178)	393
Tax expense before reclassifications	(13)	47	(86)
Amounts reclassified from accumulated other comprehensive loss	102	69	(128)
Tax expense	(25)	(18)	29
Total other comprehensive income (loss), net of tax	115	(80)	208
Equity, Attributable to Parent, Ending Balance	(111)	(226)	(146)
Defined Benefit Pension and Other Post-retirement Benefit Plans
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Equity, Attributable to Parent, Beginning Balance	(279)	(182)	(528)
Other comprehensive income (loss) before reclassifications	(21)	(142)	342
Tax expense before reclassifications	5	38	(95)
Amounts reclassified from accumulated other comprehensive loss	18	9	128
Tax expense	(4)	(2)	(29)
Total other comprehensive income (loss), net of tax	(2)	(97)	346
Equity, Attributable to Parent, Ending Balance	(281)	(279)	(182)
Foreign Currency Translation Adjustments
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Equity, Attributable to Parent, Beginning Balance	(971)	(1,044)	(921)
Other comprehensive income (loss) before reclassifications	(125)	45	(64)
Tax expense before reclassifications	(44)	28	(59)
Amounts reclassified from accumulated other comprehensive loss	0	0	0
Tax expense	0	0	0
Total other comprehensive income (loss), net of tax	(169)	73	(123)
Equity, Attributable to Parent, Ending Balance	$ (1,140)	$ (971)	$ (1,044)

Shareholders' Equity and Rede_9

Shareholders' Equity and Redeemable Non-controlling Interests - Reclassification out of accumulated other comprehensive income (loss) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Reclassification adjustments out of accumulated other comprehensive income (loss) [Line Items]
Sales and other operating revenues:	$ 40,302	$ 41,107	$ 50,451
Cost of sales	35,738	35,849	43,847
Interest expense (income)	481	477	287
Other income (expense), net	50	(58)	(72)
Provision for income taxes	240	501	882
Total reclassifications, before tax	1,603	2,627	4,776
Amounts reclassified out of accumulated other comprehensive income (loss)
Reclassification adjustments out of accumulated other comprehensive income (loss) [Line Items]
Provision for income taxes	(29)	(20)	0
Total reclassifications, before tax	120	78	0
Total reclassifications, after tax	91	58	0
Financial derivatives | Amounts reclassified out of accumulated other comprehensive income (loss)
Reclassification adjustments out of accumulated other comprehensive income (loss) [Line Items]
Provision for income taxes	(25)	(18)	29
Total reclassifications, after tax	77	51	(99)
Financial derivatives | Amounts reclassified out of accumulated other comprehensive income (loss) | Commodities
Reclassification adjustments out of accumulated other comprehensive income (loss) [Line Items]
Cost of sales	129	33	(59)
Financial derivatives | Amounts reclassified out of accumulated other comprehensive income (loss) | Foreign currency
Reclassification adjustments out of accumulated other comprehensive income (loss) [Line Items]
Interest expense (income)	(35)	31	(75)
Financial derivatives | Amounts reclassified out of accumulated other comprehensive income (loss) | Interest rates
Reclassification adjustments out of accumulated other comprehensive income (loss) [Line Items]
Interest expense (income)	4	5	6
Defined Benefit Pension and Other Post-retirement Benefit Plans | Amounts reclassified out of accumulated other comprehensive income (loss)
Reclassification adjustments out of accumulated other comprehensive income (loss) [Line Items]
Provision for income taxes	(4)	(2)	(29)
Total reclassifications, after tax	14	7	99
Settlement loss | Amounts reclassified out of accumulated other comprehensive income (loss)
Reclassification adjustments out of accumulated other comprehensive income (loss) [Line Items]
Other income (expense), net	0	0	103
Actuarial loss | Amounts reclassified out of accumulated other comprehensive income (loss)
Reclassification adjustments out of accumulated other comprehensive income (loss) [Line Items]
Other income (expense), net	15	6	22
Prior service cost | Amounts reclassified out of accumulated other comprehensive income (loss)
Reclassification adjustments out of accumulated other comprehensive income (loss) [Line Items]
Other income (expense), net	3	3	3
Financial Derivatives | Amounts reclassified out of accumulated other comprehensive income (loss) | Commodities
Reclassification adjustments out of accumulated other comprehensive income (loss) [Line Items]
Sales and other operating revenues:	$ 4	$ 0	$ 0

Per Share Data - Earnings per s

Per Share Data - Earnings per share, basic and diluted (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Earnings Per Share Basic And Diluted [Line Items]
Net income (loss)	$ 1,367	$ 2,121	$ 3,889
Dividends on redeemable non-controlling interests	$ (7)	$ (7)	$ (7)
Earnings (loss) per share:
Basic from continuing operations (in dollars in per share)	$ 4.15	$ 6.50	$ 11.86
Basic from discontinued operations (in dollars per share)	0.01	(0.02)	(0.02)
Diluted from continuing operations (in dollars in per share)	4.14	6.48	11.83
Diluted from discontinued operations (in dollars per share)	$ 0.01	$ (0.02)	$ (0.02)
Continuing operations
Earnings Per Share Basic And Diluted [Line Items]
Net income (loss)	$ 1,363	$ 2,126	$ 3,894
Dividends on redeemable non-controlling interests	(7)	(7)	(7)
Net income attributable to participating securities, Basic	(6)	(7)	(10)
Net income attributable to participating securities, Diluted	(6)	(7)	(10)
Net income (loss) attributable to ordinary shareholders - Basic	1,350	2,112	3,877
Net income (loss) attributable to ordinary shareholders, Diluted	$ 1,350	$ 2,112	$ 3,877
Weighted average number of shares outstanding reconciliation [Abstract]
Basic weighted average common stock outstanding (in share)	325	325	327
Effect of dilutive securities (in shares)	1	1	1
Potential dilutive shares (in shares)	326	326	328
Discontinued operations
Earnings Per Share Basic And Diluted [Line Items]
Net income (loss)	$ 4	$ (5)	$ (5)
Dividends on redeemable non-controlling interests	0	0	0
Net income attributable to participating securities, Basic	0	0	0
Net income attributable to participating securities, Diluted	0	0	0
Net income (loss) attributable to ordinary shareholders - Basic	4	(5)	(5)
Net income (loss) attributable to ordinary shareholders, Diluted	$ 4	$ (5)	$ (5)
Weighted average number of shares outstanding reconciliation [Abstract]
Basic weighted average common stock outstanding (in share)	325	325	327
Effect of dilutive securities (in shares)	1	1	1
Potential dilutive shares (in shares)	326	326	328

Segment and Related Informati_3

Segment and Related Information - Summarized financial information (Details) - USD ($) $ in Millions	3 Months Ended	12 Months Ended
	Jun. 30, 2022	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Segment Reporting Information [Line Items]
Revenues		$ 40,302	$ 41,107	$ 50,451
Cost of sales		35,738	35,849	43,847
Impairments		949	518	69
(Income) loss from equity investments		217	20	(5)
Gain on sale of business		(284)	0	0
Other items		1,748	1,745	1,506
Depreciation and amortization expense		1,522	1,534	1,267
EBITDA		3,456	4,509	6,301
Capital expenditures		1,839	1,531	1,890
O&P - Americas
Segment Reporting Information [Line Items]
Revenues		7,619	6,967	9,420
Cost of sales		9,261	9,146	11,953
Impairments		0	25	0
(Income) loss from equity investments		(13)	(49)	(98)
Gain on sale of business		0
Other items		459	442	351
Depreciation and amortization expense		619	587	591
EBITDA		2,445	2,303	2,865
Capital expenditures		635	480	383
O&P - EAI
Segment Reporting Information [Line Items]
Revenues		10,188	9,822	12,568
Cost of sales		10,529	10,165	12,943
Impairments	$ 69	892	38	69
(Income) loss from equity investments		217	55	68
Gain on sale of business		0
Other items		440	437	368
Depreciation and amortization expense		220	207	171
EBITDA		(991)	(9)	178
Capital expenditures		525	273	349
I&D
Segment Reporting Information [Line Items]
Revenues		10,219	10,875	12,703
Cost of sales		9,208	9,383	11,135
Impairments		2	192	0
(Income) loss from equity investments		13	13	25
Gain on sale of business		(284)
Other items		222	262	250
Depreciation and amortization expense		401	443	332
EBITDA		1,664	1,679	1,872
Capital expenditures		445	590	940
APS
Segment Reporting Information [Line Items]
Revenues		3,616	3,686	4,197
Cost of sales		3,271	3,393	3,901
Impairments		55	252	0
(Income) loss from equity investments		0	1	0
Gain on sale of business		0
Other items		344	312	281
Depreciation and amortization expense		90	98	95
EBITDA		54	(162)	115
Capital expenditures		105	75	60
Refining
Segment Reporting Information [Line Items]
Revenues		8,080	9,179	10,975
Cost of sales		8,639	9,357	10,883
Impairments		0	11	0
(Income) loss from equity investments		0	0	0
Gain on sale of business		0
Other items		130	125	128
Depreciation and amortization expense		150	158	39
EBITDA		(60)	379	921
Capital expenditures		31	32	53
Technology
Segment Reporting Information [Line Items]
Revenues		580	578	588
Cost of sales		211	210	242
Impairments		0	0	0
(Income) loss from equity investments		0	0	0
Gain on sale of business		0
Other items		123	119	124
Depreciation and amortization expense		42	41	39
EBITDA		379	375	366
Capital expenditures		95	69	98
Other
Segment Reporting Information [Line Items]
Revenues		0	0	0
Cost of sales		(5,381)	(5,805)	(7,210)
Impairments		0	0	0
(Income) loss from equity investments		0	0	0
Gain on sale of business		0
Other items		30	48	4
Depreciation and amortization expense		0	0	0
EBITDA		(35)	(56)	(16)
Capital expenditures		3	12	7
Intersegment Eliminations
Segment Reporting Information [Line Items]
Revenues		0	0	0
Intersegment Eliminations | O&P - Americas
Segment Reporting Information [Line Items]
Revenues		3,914	4,313	5,060
Intersegment Eliminations | O&P - EAI
Segment Reporting Information [Line Items]
Revenues		679	657	887
Intersegment Eliminations | I&D
Segment Reporting Information [Line Items]
Revenues		205	211	247
Intersegment Eliminations | APS
Segment Reporting Information [Line Items]
Revenues		18	12	5
Intersegment Eliminations | Refining
Segment Reporting Information [Line Items]
Revenues		479	535	918
Intersegment Eliminations | Technology
Segment Reporting Information [Line Items]
Revenues		91	85	105
Intersegment Eliminations | Other
Segment Reporting Information [Line Items]
Revenues		(5,386)	(5,813)	(7,222)
Operating Segments
Segment Reporting Information [Line Items]
Revenues		40,302	41,107	50,451
Operating Segments | O&P - Americas
Segment Reporting Information [Line Items]
Revenues		11,533	11,280	14,480
Operating Segments | O&P - EAI
Segment Reporting Information [Line Items]
Revenues		10,867	10,479	13,455
Operating Segments | I&D
Segment Reporting Information [Line Items]
Revenues		10,424	11,086	12,950
Operating Segments | APS
Segment Reporting Information [Line Items]
Revenues		3,634	3,698	4,202
Operating Segments | Refining
Segment Reporting Information [Line Items]
Revenues		8,559	9,714	11,893
Operating Segments | Technology
Segment Reporting Information [Line Items]
Revenues		671	663	693
Operating Segments | Other
Segment Reporting Information [Line Items]
Revenues		$ (5,386)	$ (5,813)	$ (7,222)

Segment and Related Informati_4

Segment and Related Information - Reconciliation of EBITDA to income (loss) from continuing operations before income taxes (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
EBITDA:
Total segment EBITDA	$ 3,491	$ 4,565	$ 6,317
Other EBITDA	(35)	(56)	(16)
Less:
Depreciation and amortization expense	(1,522)	(1,534)	(1,267)
Interest expense	(481)	(477)	(287)
Add:
Interest income	150	129	29
Income from continuing operations before income taxes	$ 1,603	$ 2,627	$ 4,776

Segment and Related Informati_5

Segment and Related Information - Long-lived assets by segments (Details) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Segment reporting asset reconciling items [Line Items]
Property, plant and equipment, net	$ 15,066	$ 15,547
Equity investments	4,121	3,907	$ 4,295
Goodwill	1,561	1,647	1,827
O&P - Americas
Segment reporting asset reconciling items [Line Items]
Property, plant and equipment, net	6,592	6,441
Equity investments	2,011	2,049
Goodwill	472	477	162
O&P - EAI
Segment reporting asset reconciling items [Line Items]
Property, plant and equipment, net	1,553	2,139
Equity investments	1,732	1,513
Goodwill	355	380	86
I&D
Segment reporting asset reconciling items [Line Items]
Property, plant and equipment, net	5,670	5,654
Equity investments	377	343
Goodwill	209	215	201
APS
Segment reporting asset reconciling items [Line Items]
Property, plant and equipment, net	655	678
Equity investments	1	2
Goodwill	517	567	1,370
Refining
Segment reporting asset reconciling items [Line Items]
Property, plant and equipment, net	0	122
Equity investments	0	0
Goodwill	0	0
Technology
Segment reporting asset reconciling items [Line Items]
Property, plant and equipment, net	596	513
Equity investments	0	0
Goodwill	$ 8	$ 8	$ 8

Segment and Related Informati_6

Segment and Related Information - Long-lived assets by geographic location (Details) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Long-Lived Assets [Line Items]
Total	$ 19,764	$ 20,095
U.S.
Long-Lived Assets [Line Items]
Total	14,456	14,334
Germany
Long-Lived Assets [Line Items]
Total	1,691	1,593
The Netherlands
Long-Lived Assets [Line Items]
Total	784	879
Italy
Long-Lived Assets [Line Items]
Total	399	389
Mexico
Long-Lived Assets [Line Items]
Total	257	281
France
Long-Lived Assets [Line Items]
Total	171	731
China
Long-Lived Assets [Line Items]
Total	124	375
Other
Long-Lived Assets [Line Items]
Total	$ 1,882	$ 1,513

Segment and Related Informati_7

Segment and Related Information - Narrative (Details) T in Thousands, $ in Millions		1 Months Ended	3 Months Ended			12 Months Ended			36 Months Ended
	Jan. 01, 2023 USD ($)	May 31, 2024 USD ($) T	Dec. 31, 2023 USD ($)	Mar. 31, 2023 USD ($)	Jun. 30, 2022 USD ($)	Dec. 31, 2024 USD ($)	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)	Dec. 31, 2024 USD ($)
Restructuring cost and reserve [Line Items]
Proceeds from sale of business						$ 689	$ 0	$ 15
Gain on sale of business						284	0	0
Equity investments			$ 3,907			4,121	3,907	4,295	$ 4,121
Impairments						949	518	69
Non-cash impairment charge						$ 13	192
Goodwill impairment charge							$ 252
National Petrochemical Industrial Company (NATPET)
Restructuring cost and reserve [Line Items]
Ownership percentage in the joint venture (in percent)		35%	0%			35%	0%		35%
Equity investments		$ 500
Production manufacturing joint venture capacity | T		400
European PO JV
Restructuring cost and reserve [Line Items]
Ownership percentage in the joint venture (in percent)			50%			50%	50%		50%
Non-cash impairment charge			$ 192
Disposal group disposed of by sale not discontinued operations [Member] | Ethylene Oxide & Derivatives (“EO&D”) Business
Restructuring cost and reserve [Line Items]
Proceeds from sale of business						$ 689
Gain on sale of business						284
Refining
Restructuring cost and reserve [Line Items]
Gain on sale of business						0
Equity investments			0			0	$ 0		$ 0
Exit costs incurred						179	334	187	700
Restructuring and related cost, expected cost remaining						70			70
Impairments						0	11	0
APS
Restructuring cost and reserve [Line Items]
Gain on sale of business						0
Equity investments			2			1	2		1
Impairments						55	252	0
Goodwill impairment charge	$ 252			$ 252			252
O&P - EAI
Restructuring cost and reserve [Line Items]
Gain on sale of business						0
Equity investments			$ 1,513			1,732	1,513		$ 1,732
Impairments					$ 69	892	38	$ 69
Goodwill impairment charge							$ 0
Consideration					$ 38
O&P - EAI | European Strategic Review
Restructuring cost and reserve [Line Items]
Impairments						837
O&P - EAI | Chinese Joint Venture
Restructuring cost and reserve [Line Items]
Impairments						$ 52

Segment and Related Informati_8

Segment and Related Information - Schedule of costs incurred (Details) - USD ($) $ in Millions	12 Months Ended			36 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2024
Segment Reporting Information [Line Items]
Restructuring Incurred Cost Statement Of Income Or Comprehensive Income Extensible Enumeration Not Disclosed Flag	Refinery exit costs	Refinery exit costs
Refining
Segment Reporting Information [Line Items]
Exit costs incurred	$ 179	$ 334	$ 187	$ 700
Accelerated lease amortization costs | Refining
Segment Reporting Information [Line Items]
Exit costs incurred	38	110	91	239
Personnel costs | Refining
Segment Reporting Information [Line Items]
Exit costs incurred	35	76	64	175
Asset retirement obligation accretion | Refining
Segment Reporting Information [Line Items]
Exit costs incurred	8	9	2	19
Asset retirement cost depreciation | Refining
Segment Reporting Information [Line Items]
Exit costs incurred	80	139	30	249
Other charges | Refining
Segment Reporting Information [Line Items]
Exit costs incurred	$ 18	$ 0	$ 0	$ 18