v3.26.1
Segment Reporting (Tables)
 3 Months Ended
Mar. 31, 2026
Segment Reporting [Abstract]  
Segment Reporting [Table Text Block]
The following tables present financial information by segment for the three months ended March 31, 2026 and 2025:
Three Months Ended March 31,
20262025
Revenues:
Fuel Distribution
Revenues from external customers$10,201 $4,903 
Intersegment revenues218 13 
10,419 4,916 
Pipeline Systems
Revenues from external customers194 173 
Intersegment revenues4 1 
198 174 
Terminals
Revenues from external customers149 103 
Intersegment revenues285 236 
434 339 
Refinery
Revenues from external customers146 — 
Intersegment revenues506 — 
652 — 
Eliminations(1,013)(250)
Total$10,690 $5,179 
Three Months Ended March 31,
20262025
Cost of sales:
Fuel Distribution$9,183 $4,555 
Pipeline Systems14 — 
Terminals209 221 
Refinery608 — 
Eliminations(1,013)(250)
Total$9,001 $4,526 
Three Months Ended March 31,
20262025
Operating and lease expenses, excluding non-cash unit-based compensation:
Fuel Distribution$269 $72 
Pipeline Systems49 44 
Terminals63 42 
Refinery— — 
Total$381 $158 
Three Months Ended March 31,
20262025
General and administrative expenses, excluding non-cash unit-based compensation:
Fuel Distribution$122 $20 
Pipeline Systems12 9 
Terminals11 7 
Refinery6 — 
Total$151 $36 
Three Months Ended March 31,
20262025
Other(1):
Fuel Distribution$316 $49 
Pipeline Systems(56)(51)
Terminals44 3 
Refinery(5)— 
Total$299 $1 
(1)    Other by segment includes Adjusted EBITDA from unconsolidated affiliates, unrealized gains and losses on commodity derivatives, inventory valuation adjustments and other less significant items, as applicable.
Three Months Ended March 31,
20262025
Segment Adjusted EBITDA:
Fuel Distribution$529 $220 
Pipeline Systems179 172 
Terminals107 66 
Refinery43 — 
Total$858 $458 
Three Months Ended March 31,
20262025
Reconciliation of net income to Adjusted EBITDA:
Net income$644 $207 
Depreciation, amortization and accretion286 156 
Interest expense, net201 121 
Non-cash unit-based compensation expense6 4 
(Gain) loss on disposal of assets and impairment charges(1)3 
Loss on extinguishment of debt1 2 
Unrealized (gains) losses on commodity derivatives56 (1)
Inventory valuation adjustments(444)(61)
Equity in earnings of unconsolidated affiliates(42)(32)
Adjusted EBITDA related to unconsolidated affiliates69 50 
Other non-cash adjustments47 11 
Income tax expense (benefit)35 (2)
Adjusted EBITDA (consolidated)$858 $458