Cash and cash equivalents include all cash on hand, demand deposits and investments with original maturities of three months or less. We consider cash equivalents to include short-term, highly liquid investments that are readily convertible to known amounts of cash and that are subject to an insignificant risk of changes in value. The Partnership’s consolidated balance sheets did not include any material amounts of restricted cash as of June 30, 2026 or December 31, 2025.

We place our cash deposits and temporary cash investments with high credit quality financial institutions. At times, our cash and cash equivalents may be uninsured or in deposit accounts that exceed the Federal Deposit Insurance Corporation insurance limit.

The net change in operating assets and liabilities, net of effects of acquisitions and divestitures, included in the reconciliation of net income to net cash flows provided by operating activities is comprised as follows:


	Six Months Ended June 30,
	2026		2025
Accounts receivable	$	(5,492)	$	332
Accounts receivable from related companies	(104)		(103)
Inventories	789		273
Other current assets	97		(40)
Other non-current assets, net	367		26
Accounts payable	4,278		(793)
Accounts payable to related companies	7		(3)
Accrued and other current liabilities	392		33
Other non-current liabilities	(141)		(10)
Derivative assets and liabilities, net	35		(12)
Net change in operating assets and liabilities, net of effects of acquisitions	$	228	$	(297)


	Six Months Ended June 30,
	2026		2025
Accrued capital expenditures	$	1,154	$	650

Lease assets obtained in exchange for new lease liabilities	162		40
Distribution reinvestment	25		21
USAC exercise and conversion of preferred units into common units	—		93


Sunoco LP common units (noncontrolling interest) issued in connection with acquisitions	—		18
USAC common units (noncontrolling interest) issued in connection with acquisitions	457		—
Common units issued in connection with acquisition	22		—