v3.25.1
CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Millions
Mar. 31, 2025
Dec. 31, 2024
CURRENT ASSETS    
Cash and cash equivalents $ 427 $ 348
Trade accounts receivable and other receivables, net 3,820 3,901
Inventory 335 439
Other current assets 153 114
Total current assets 4,735 4,802
PROPERTY AND EQUIPMENT 22,125 21,300
Accumulated depreciation (6,063) (5,876)
Property and equipment, net 16,062 15,424
OTHER ASSETS    
Investments in unconsolidated entities 2,745 2,811
Intangible assets, net 1,675 1,677
Linefill 988 968
Long-term operating lease right-of-use assets, net 321 332
Long-term inventory 289 280
Other long-term assets, net 244 268
Total assets 27,059 26,562
CURRENT LIABILITIES    
Trade accounts payable 3,725 3,881
Short-term debt 478 408
Other current liabilities 488 661
Total current liabilities 4,691 4,950
LONG-TERM LIABILITIES    
Senior notes, net 8,131 7,141
Other long-term debt, net 73 72
Long-term operating lease liabilities 301 313
Other long-term liabilities and deferred credits 1,003 990
Total long-term liabilities 9,508 8,516
COMMITMENTS AND CONTINGENCIES (NOTE 9)
PARTNERS’ CAPITAL    
Total partners’ capital excluding noncontrolling interests 9,632 9,813
Noncontrolling interests 3,228 3,283
Total partners’ capital 12,860 13,096
Total liabilities and partners’ capital 27,059 26,562
Series A Preferred Units    
PARTNERS’ CAPITAL    
Partners' capital 1,245 1,514
Series B Preferred Units    
PARTNERS’ CAPITAL    
Partners' capital 787 787
Common Units    
PARTNERS’ CAPITAL    
Partners' capital $ 7,600 $ 7,512