v3.25.2
Consolidated Statements Of Operations - USD ($)
$ in Millions
 3 Months Ended 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
REVENUES:        
Total revenues $ 19,242 $ 20,729 $ 40,262 $ 42,358
COSTS AND EXPENSES:        
Cost of products sold 13,946 15,609 29,517 32,206
Operating expenses 1,343 1,227 2,642 2,365
Depreciation, depletion and amortization 1,384 1,213 2,751 2,467
Selling, general and administrative 257 332 545 592
Impairment losses 3 50 7 50
Total costs and expenses 16,933 18,431 35,462 37,680
OPERATING INCOME 2,309 2,298 4,800 4,678
OTHER INCOME (EXPENSE):        
Interest expense, net of interest capitalized (865) (762) (1,674) (1,490)
Equity in earnings of unconsolidated affiliates [1] 105 85 197 183
Losses on extinguishments of debt (17) (6) (19) (11)
Gain on interest rate derivative [2] 0 3 0 12
Gain on sale of Sunoco LP West Texas assets 0 598 0 598
Other, net 5 3 (6) 30
INCOME BEFORE INCOME TAX EXPENSE 1,537 2,219 3,298 4,000
Income tax expense 79 227 120 316
Net income 1,458 1,992 3,178 3,684
Less: Net income attributable to noncontrolling interests 275 663 659 1,099
Less: Net income attributable to redeemable noncontrolling interests 20 15 33 31
NET INCOME ATTRIBUTABLE TO PARTNERS 1,163 1,314 2,486 2,554
Less: General Partner’s interest in net income 1 1 2 2
Preferred Unitholders’ interest in net income 63 98 130 227
Preferred Stock Redemption Premium 8 33 8 54
Common Unitholders’ interest in net income $ 1,091 $ 1,182 $ 2,346 $ 2,271
NET INCOME PER COMMON UNIT:        
Basic $ 0.32 $ 0.35 $ 0.68 $ 0.67
Diluted $ 0.32 $ 0.35 $ 0.68 $ 0.67
Crude sales        
REVENUES:        
Total revenues $ 5,024 $ 6,552 $ 10,473 $ 13,396
NGL sales        
REVENUES:        
Total revenues 4,500 4,378 10,142 9,629
Gathering, transportation and other fees        
REVENUES:        
Total revenues 3,080 3,025 6,085 5,926
Natural gas sales        
REVENUES:        
Total revenues 1,058 460 2,639 1,315
Other        
REVENUES:        
Total revenues 405 327 785 592
Refined product sales        
REVENUES:        
Total revenues $ 5,175 $ 5,987 $ 10,138 $ 11,500
[1] Amounts reflected above exclude Sunoco LP’s earnings from the ET-S Permian and J.C. Nolan joint ventures, which are eliminated in consolidation.
[2] This interest rate derivative was terminated by USAC in August 2024.