v3.26.1
Acquisitions and Other Transactions (Tables)
 3 Months Ended
Mar. 31, 2026
Northwind Midstream  
Business Combination [Line Items]  
Business Combination, Recognized Asset Acquired and Liability Assumed The following table reflects our preliminary allocation of the $2.4 billion purchase price to the Northwind Midstream assets and liabilities, as well as measurement period adjustments since the acquisition date:
(In millions)August 29,
2025		AdjustmentsAs adjusted
Assets acquired:
Cash and cash equivalents$17 $— $17 
Receivables11 — 11 
Other current assets1 — 1 
Property, plant and equipment1,182 (15)1,167 
Intangibles951 6 957 
Other noncurrent assets2 — 2 
Total assets acquired2,164 (9)2,155 
Liabilities assumed:
Accounts payable15 7 22 
Accrued property, plant and equipment84 (2)82 
Accrued liabilities6 4 10 
Other current liabilities1 — 1 
Long-term operating lease liabilities1 — 1 
Total liabilities assumed107 9 116 
Total identifiable net assets2,057 (18)2,039 
Goodwill356 4 360 
Fair value of net assets acquired$2,413 $(14)$2,399 
BANGL, LLC  
Business Combination [Line Items]  
Business Combination, Recognized Asset Acquired and Liability Assumed The following table reflects our determination of the fair value of the BANGL assets and liabilities:
(In millions)July 1,
2025
Assets acquired:
Cash and cash equivalents$18 
Other current assets4 
Property, plant and equipment1,550 
Intangibles77 
Other noncurrent assets22 
Total assets acquired1,671 
Liabilities assumed:
Long-term debt due within one year46 
Other current liabilities42 
Long-term debt610 
Other long-term liabilities1 
Total liabilities assumed699 
Total identifiable net assets972 
Goodwill731 
Fair value of net assets acquired$1,703 
Schedule of Business Combination, Consideration
The following table summarizes the purchase price consideration in connection with the BANGL Acquisition:
Total cash paid$703 
Fair value of contingent consideration as of acquisition date234 
Total consideration937 
Fair value of previously held equity interest766 
Fair value of net assets acquired$1,703