v3.25.1
CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Millions
Mar. 31, 2025
Dec. 31, 2024
CURRENT ASSETS    
Cash and cash equivalents $ 429 $ 349
Trade accounts receivable and other receivables, net 3,820 3,901
Inventory 335 439
Other current assets 145 87
Total current assets 4,729 4,776
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
Deferred tax asset 1,199 1,220
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 28,252 27,756
CURRENT LIABILITIES    
Trade accounts payable 3,725 3,881
Short-term debt 478 408
Other current liabilities 481 635
Total current liabilities 4,684 4,924
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    
Noncontrolling interests 12,704 12,965
Total partners’ capital 14,060 14,316
Total liabilities and partners’ capital 28,252 27,756
Class A Shares    
PARTNERS’ CAPITAL    
Class A shareholders (197,743,624 and 197,465,699 shares outstanding, respectively) $ 1,356 $ 1,351