v3.26.1
Derivative Assets And Liabilities (Tables)
 6 Months Ended
Jun. 30, 2026
General Discussion of Derivative Instruments and Hedging Activities [Abstract]  
Schedule of Derivative Instruments
The following table details our outstanding commodity-related derivatives:
June 30, 2026December 31, 2025
Notional
Volume		MaturityNotional
Volume		Maturity
Mark-to-Market Derivatives
Natural Gas (BBtu)(129,145)2026-2028(233,645)2026-2028
Power (Megawatt)(2,115,904)2026-2033(461,896)2026-2029
Crude, NGL and refined products (MBbls)(23,166)2026-2029(59,247)2026-2029
Othervarious2026various2026-2042
Fair Value Hedging Derivatives
Natural Gas (BBtu)(56,635)2026(100,346)2026
Summary of Derivative Assets and Liabilities
The following table provides a summary of our derivative assets and liabilities:
Fair Value of Derivative Instruments
Asset DerivativesLiability Derivatives
June 30,
2026		December 31,
2025		June 30,
2026		December 31,
2025
Derivatives designated as hedging instruments:
Commodity derivatives – margin deposits$12 $31 $(6)$(2)
12 31 (6)(2)
Derivatives not designated as hedging instruments:
Commodity derivatives – margin deposits740 485 (684)(392)
Commodity derivatives
74 102 (70)(60)
Interest rate derivatives1 — — — 
815 587 (754)(452)
Total derivatives
$827 $618 $(760)$(454)
Schedule of Interest Rate Derivatives
The following table summarizes our interest rate swaps outstanding, none of which were designated as hedges for accounting purposes:
Term
Type (1)
Notional Amount Outstanding
June 30, 2026
Sunoco LP:
December 2030 (2)
Pay an average fixed rate of 2.5095% and receive a floating rate
$126 
(1)Floating rates are based on EURIBOR.
(2)The December 2030 interest rate swap was acquired in conjunction with Sunoco LP’s TanQuid acquisition in 2026, with a notional amount of €111 million ($126 million).
Offsetting Derivative Assets
The following table presents the fair value of our recognized derivative assets and liabilities on a gross basis and amounts offset on the consolidated balance sheets that are subject to enforceable master netting arrangements or similar arrangements:
Asset DerivativesLiability Derivatives
Balance Sheet LocationJune 30,
2026		December 31,
2025		June 30,
2026		December 31,
2025
Derivatives without offsetting agreementsDerivative assets (liabilities)$1 $— $— $— 
Derivatives in offsetting agreements:
OTC contracts
Derivative assets (liabilities)
74 102 (70)(60)
Broker cleared derivative contracts
Other current assets (liabilities)
752 516 (690)(394)
Total gross derivatives
827 618 (760)(454)
Offsetting agreements:
Counterparty netting
Derivative assets (liabilities)
(61)(50)61 50 
Counterparty netting
Other current assets (liabilities)
(648)(384)648 384 
Total net derivatives
$118 $184 $(51)$(20)
Offsetting Derivative Liabilities
The following table presents the fair value of our recognized derivative assets and liabilities on a gross basis and amounts offset on the consolidated balance sheets that are subject to enforceable master netting arrangements or similar arrangements:
Asset DerivativesLiability Derivatives
Balance Sheet LocationJune 30,
2026		December 31,
2025		June 30,
2026		December 31,
2025
Derivatives without offsetting agreementsDerivative assets (liabilities)$1 $— $— $— 
Derivatives in offsetting agreements:
OTC contracts
Derivative assets (liabilities)
74 102 (70)(60)
Broker cleared derivative contracts
Other current assets (liabilities)
752 516 (690)(394)
Total gross derivatives
827 618 (760)(454)
Offsetting agreements:
Counterparty netting
Derivative assets (liabilities)
(61)(50)61 50 
Counterparty netting
Other current assets (liabilities)
(648)(384)648 384 
Total net derivatives
$118 $184 $(51)$(20)
We disclose the non-exchange traded financial derivative instruments as derivative assets and liabilities on our
Location and Amounts Recognized in Statements of Operations for Derivatives
The following table summarizes the location and amounts recognized in our consolidated statements of operations with respect to our derivative financial instruments:
Location of Gain (Loss) Recognized on Income on DerivativesAmount of Gain (Loss) Recognized in Income on Derivatives
Three Months Ended
June 30,		Six Months Ended
June 30,
2026202520262025
Derivatives not designated as hedging instruments:
Commodity derivativesCost of products sold$241 $116 $(151)$104 
Interest rate derivatives
Other, net
2 — 2 — 
Total
$243 $116 $(149)$104