ONEOK INC /NEW/

For the period ended Dec 31, 2025. Filed Feb 24, 2026.

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FY2025 · Filed Feb 24, 2026

OKE$85.98+0.9%Stored close · as of Nov 9, 2026

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Contents

P. Leases

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	December 31,2025	December 31,2024
(Millions of dollars)
Operating lease assets	Other assets	$245	$220
Operating lease liabilities
Current	Other current liabilities	$54	$62
Noncurrent	Other deferred credits	183	154
Total operating lease liabilities		$237	$216

The weighted average remaining lease term for our operating leases was 11.0 years and 9.1 years at December 31, 2025 and 2024, respectively. The weighted average discount rate for our operating leases was 5.52% and 5.51% at December 31, 2025 and 2024, 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 December 31, 2025:

OperatingLeases
(Millions of dollars)
2026	$61
2027	39
2028	34
2029	29
2030	22
2031 and beyond	130
Total lease payments	315
Less: Interest	78
Present value of lease liabilities	$237

Our lease costs and supplemental cash flow information related to our leases for the periods ended December 31, 2025 and 2024, are not material.

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