v3.26.1
Consolidated Statement of Equity - USD ($)
$ in Millions
Total
Common Unitholders
Class D unitholders
Series A Preferred Units
Accumulated Other Comprehensive Income
Beginning balance at Dec. 31, 2024 $ 4,068 $ 4,066     $ 2
Cash distributions to unitholders, including incentive distributions 159 159     0
Non-cash unit-based compensation 4 4     0
Other comprehensive loss, net of tax 1 0     1
Units issued in acquisition 5 5     0
Other 30 36     (6)
NET INCOME 207 207     0
Ending balance at Mar. 31, 2025 4,156 4,159     (3)
Beginning balance at Dec. 31, 2024 4,068 4,066     2
Other comprehensive loss, net of tax 2        
NET INCOME 293        
Ending balance at Jun. 30, 2025 4,097        
Beginning balance at Mar. 31, 2025 4,156 4,159     (3)
Cash distributions to unitholders, including incentive distributions 163 163     0
Non-cash unit-based compensation 5 5     0
Other comprehensive loss, net of tax 1 0     1
Units issued in acquisition 13 13     0
Other (1) (1)     0
NET INCOME 86 86     0
Ending balance at Jun. 30, 2025 4,097        
Beginning balance at Dec. 31, 2025 8,009 3,970 $ 2,538 $ 1,507 (6)
Cash distributions to unitholders, including incentive distributions 296 189 48 59 0
Non-cash unit-based compensation 6 6 0 0 0
Other comprehensive loss, net of tax (10) 0 0 0 (10)
Other (6) (6) 0 0 0
NET INCOME 644 465 149 30 0
Ending balance at Mar. 31, 2026 8,347 4,246 2,639 1,478 (16)
Beginning balance at Dec. 31, 2025 8,009 3,970 2,538 1,507 (6)
Other comprehensive loss, net of tax (39)        
NET INCOME 927        
Ending balance at Jun. 30, 2026 8,348 4,249 2,637 1,507 (45)
Beginning balance at Mar. 31, 2026 8,347 4,246 2,639 1,478 (16)
Cash distributions to unitholders, including incentive distributions 260 209 51 0 0
Non-cash unit-based compensation 7 7 0 0 0
Other comprehensive loss, net of tax (29) 0 0 0 (29)
NET INCOME 283 205 49 29 0
Ending balance at Jun. 30, 2026 $ 8,348 $ 4,249 $ 2,637 $ 1,507 $ (45)