v3.26.1
Consolidated Statements Of Operations - USD ($)
$ in Millions
 3 Months Ended 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Jun. 30, 2026
Jun. 30, 2025
REVENUES:        
Total revenues $ 34,334 $ 19,242 $ 62,105 $ 40,262
COSTS AND EXPENSES:        
Cost of products sold 26,936 13,946 48,085 29,517
Operating expenses 1,828 1,343 3,523 2,642
Depreciation, depletion and amortization 1,575 1,384 3,158 2,751
Selling, general and administrative 421 257 782 545
Impairment losses 0 3 0 7
Total costs and expenses 30,760 16,933 55,548 35,462
OPERATING INCOME 3,574 2,309 6,557 4,800
OTHER INCOME (EXPENSE):        
Interest expense, net of interest capitalized (934) (865) (1,881) (1,674)
Equity in earnings of unconsolidated affiliates 108 105 218 197
Losses on extinguishments of debt 0 (17) (7) (19)
Other, net (24) 5 (52) (6)
INCOME BEFORE INCOME TAX EXPENSE 2,724 1,537 4,835 3,298
Income tax expense 194 79 329 120
Net income 2,530 1,458 4,506 3,178
Less: Net income attributable to noncontrolling interests 432 275 1,147 659
Less: Net income attributable to redeemable noncontrolling interests 10 20 17 33
NET INCOME ATTRIBUTABLE TO PARTNERS 2,088 1,163 3,342 2,486
Less: General Partner’s interest in net income 2 1 3 2
Less: Preferred Unitholders’ interest in net income 59 63 118 130
Preferred Stock Redemption Premium 0 8 0 8
Common Unitholders’ interest in net income $ 2,027 $ 1,091 $ 3,221 $ 2,346
NET INCOME PER COMMON UNIT:        
Basic (in dollars per unit) $ 0.59 $ 0.32 $ 0.94 $ 0.68
Diluted (in dollars per unit) $ 0.59 $ 0.32 $ 0.93 $ 0.68
Crude sales        
REVENUES:        
Total revenues $ 10,303 $ 5,024 $ 17,297 $ 10,473
NGL sales        
REVENUES:        
Total revenues 5,739 4,500 10,867 10,142
Gathering, transportation and other fees        
REVENUES:        
Total revenues 3,291 3,080 6,552 6,085
Natural gas sales        
REVENUES:        
Total revenues 400 1,058 1,878 2,639
Other        
REVENUES:        
Total revenues 759 405 1,397 785
Refined product sales        
REVENUES:        
Total revenues $ 13,842 $ 5,175 $ 24,114 $ 10,138