v3.26.1
Canadian NGL Business Divestiture and Discontinued Operations (Tables)
 6 Months Ended
Jun. 30, 2026
Discontinued Operations and Disposal Groups [Abstract]  
Schedule of Disposal Groups, Including Discontinued Operations
The following table summarizes the carrying amounts of major classes of assets and liabilities of discontinued operations (in millions):

June 30,
2026		December 31,
2025
Assets:
Current assets:
Trade accounts receivable and other receivables, net
$— $285 
Inventory— 176 
Other current assets— 18 
Total current assets of discontinued operations
$— $479 
Long-term assets:
Property and equipment, net (1)
$— $2,191 
Linefill— 70 
Long-term operating lease right-of-use assets, net— 138 
Long-term inventory— 38 
Other long-term assets, net— 120 
Total long-term assets of discontinued operations
$— $2,557 
Liabilities:
Current liabilities:
Trade accounts payable
$— $295 
Other current liabilities154 87 
Total current liabilities of discontinued operations
$154 $382 
Long-term liabilities:
Long-term operating lease liabilities$— $96 
Other long-term liabilities and deferred credits— 510 
Total long-term liabilities of discontinued operations
$— $606 
(1)Amounts are net of accumulated depreciation of $876 million as of December 31, 2025.
The following table provides a reconciliation of the line items comprising income from discontinued operations before tax to income from discontinued operations, net of tax (in millions):

Three Months Ended
June 30,		Six Months Ended
June 30,
2026202520262025
Revenues:
Product sales
$35 $181 $292 $679 
Services
19 30 58 66 
Total revenues
54 211 350 745 
Cost and Expenses:
Purchases and related costs
— 10 205 252 
Field operating costs37 53 108 122 
General and administrative expenses3 12 17 26 
Depreciation and amortization
— 27 — 57 
(Gains)/losses on asset sales and other, net(1,637)13 (1,605)13 
Total costs and expenses
(1,597)115 (1,275)470 
Income from discontinued operations before tax1,651 96 1,625 275 
Current income tax expense(71)(14)(115)(54)
Deferred income tax (expense)/benefit69 (12)38 (15)
Income from discontinued operations, net of tax$1,649 $70 $1,548 $206