ONEOK INC NEW
For the period ended Dec 31, 2024. Filed Feb 25, 2025.
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FY2024 · Filed Feb 25, 2025
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QLeases
Lessee activity -The following table sets forth information about our operating lease assets and liabilities included in our Consolidated Balance Sheets as of the dates indicated:
| Leases | Location in our Consolidated Balance Sheets | Dec. 31, 2024 | Dec. 31, 2023 |
|---|---|---|---|
| (Millions of dollars) | |||
| Operating leases assets | Other assets | $220 | $104 |
| Operating leases liabilities | |||
| Current | Other current liabilities | $62 | $23 |
| Noncurrent | Other deferred credits | 154 | 74 |
| Total operating lease liabilities | $216 | $97 | |
The weighted average remaining lease term for our operating leases was 9.1 years and 6.3 years at Dec. 31, 2024 and 2023, respectively. The weighted average discount rate for our operating leases was 5.51% and 5.78% at Dec. 31, 2024 and 2023, respectively. Our weighted-average discount rates represent the rate implicit in the lease or our incremental borrowing rate for a term equal to the remaining term of the lease.
The following table sets forth the maturity of our lease liabilities as of Dec. 31, 2024:
| OperatingLeases | |
|---|---|
| (Millions of dollars) | |
| 2025 | $72 |
| 2026 | 52 |
| 2027 | 30 |
| 2028 | 25 |
| 2029 | 21 |
| 2030 and beyond | 75 |
| Total lease payments | 275 |
| Less: Interest | 59 |
| Present value of lease liabilities | $216 |
Our lease costs and supplemental cash flow information related to our leases for the periods ended Dec. 31, 2024 and 2023, are not material.
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