v3.25.1
Segment Information - Segment Financial Data (Details) - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Dec. 31, 2024
Revenues:      
Total revenues $ 12,011 $ 11,995  
Significant segment expenses:      
Purchases and related costs (10,761) (10,917)  
Field operating costs (368) (358)  
Segment general and administrative expenses (100) (96)  
Total significant segment expenses (11,229) (11,371)  
Equity earnings in unconsolidated entities 103 95  
Other segment items:      
Total other segment items (137) (7)  
Segment Adjusted EBITDA 748 712  
Investment and acquisition capital expenditures 826 197  
Maintenance capital expenditures 41 57  
Investments in unconsolidated entities 2,745   $ 2,811
Product sales revenues      
Revenues:      
Total revenues 11,544 11,546  
Services      
Revenues:      
Total revenues 467 449  
Crude Oil      
Significant segment expenses:      
Equity earnings in unconsolidated entities 103    
Operating Segments      
Revenues:      
Total revenues 12,077 12,089  
Operating Segments | Crude Oil      
Revenues:      
Total revenues 11,439 11,582  
Significant segment expenses:      
Purchases and related costs (10,488) (10,665)  
Field operating costs (292) (266)  
Segment general and administrative expenses (79) (73)  
Total significant segment expenses (10,859) (11,004)  
Equity earnings in unconsolidated entities   95  
Other segment items:      
Depreciation and amortization of unconsolidated entities 20 19  
Derivative activities and inventory valuation adjustments (24) 37  
Long-term inventory costing adjustments   (28)  
Deficiencies under minimum volume commitments, net (7) (12)  
Equity-indexed compensation expense 9 9  
Transaction-related expenses 5    
Foreign currency revaluation   (17)  
Segment amounts attributable to noncontrolling interests (127) (128)  
Total other segment items (124) (120)  
Segment Adjusted EBITDA 559 553  
Investment and acquisition capital expenditures 785 183  
Maintenance capital expenditures 31 46  
Investments in unconsolidated entities 2,745   $ 2,811
Operating Segments | Crude Oil | Product sales revenues      
Revenues:      
Total revenues 11,008 11,176  
Operating Segments | Crude Oil | Services      
Revenues:      
Total revenues 431 406  
Operating Segments | NGL      
Revenues:      
Total revenues 638 507  
Significant segment expenses:      
Purchases and related costs (339) (346)  
Field operating costs (76) (92)  
Segment general and administrative expenses (21) (23)  
Total significant segment expenses (436) (461)  
Other segment items:      
Derivative activities and inventory valuation adjustments (10) 122  
Long-term inventory costing adjustments (3) (5)  
Foreign currency revaluation   (4)  
Total other segment items (13) 113  
Segment Adjusted EBITDA 189 159  
Investment and acquisition capital expenditures 41 14  
Maintenance capital expenditures 10 11  
Operating Segments | NGL | Product sales revenues      
Revenues:      
Total revenues 596 458  
Operating Segments | NGL | Services      
Revenues:      
Total revenues 42 49  
Intersegment revenues elimination      
Revenues:      
Total revenues (66) (94)  
Significant segment expenses:      
Purchases and related costs 66 94  
Total significant segment expenses 66 94  
Intersegment revenues elimination | Product sales revenues      
Revenues:      
Total revenues (60) (88)  
Intersegment revenues elimination | Services      
Revenues:      
Total revenues $ (6) $ (6)