UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	Sep. 30, 2026	Dec. 31, 2025
Current assets:
Cash and cash equivalents	$ 232	$ 969
Restricted cash	107	276
Inventories (see Note 3)	4,907	3,884
Derivative assets (see Note 13)	721	434
Prepaid and other current assets	899	1,302
Total current assets	17,481	13,360
Property, plant and equipment, net (see Note 4)	52,588	51,359
Investments in unconsolidated affiliates (see Note 5)	2,142	2,185
Intangible assets, net (see Note 6)	3,988	4,159
Goodwill (see Note 6)	5,712	5,712
Operating lease right-of-use assets, net (see Note 16)	737	437
Other assets	1,011	690
Total assets	83,659	77,902
Current liabilities:
Current maturities of debt (see Note 7)	2,234	1,625
Accrued product payables	13,074	8,183
Accrued interest	288	566
Derivative liabilities (see Note 13)	683	347
Current operating lease liabilities (see Note 16)	86	94
Other current liabilities	993	779
Total current liabilities	18,786	12,832
Long-term debt (see Note 7)	31,209	32,770
Deferred tax liabilities (see Note 15)	731	702
Long-term operating lease liabilities (see Note 16)	685	377
Other long-term liabilities	1,018	607
Commitments and contingent liabilities (see Note 16)
Redeemable preferred limited partner interests: (see Note 8)
Series A cumulative convertible preferred units (“preferred units”) (45,412 units outstanding at September 30, 2026 and December 31, 2025	44	44
Partners’ equity:
Common limited partner interests (2,156,604,858 units issued and outstanding at September 30, 2026, 2,161,760,683 units issued and outstanding at December 31, 2025	31,719	30,700
Treasury units, at cost	(1,297)	(1,297)
Accumulated other comprehensive income (loss)	(43)	336
Total partners’ equity	30,379	29,739
Noncontrolling interests in consolidated subsidiaries	807	831
Total equity	31,186	30,570
Total liabilities, preferred units, and equity	83,659	77,902
Nonrelated Party
Current assets:
Accounts receivable, net	10,613	6,494
Current liabilities:
Accounts payable	1,224	1,021
Related Party
Current assets:
Accounts receivable, net	2	1
Current liabilities:
Accounts payable	$ 204	$ 217

Carrying value as of the balance sheet date of obligations incurred and payable to third parties for natural gas, NGLs and petrochemicals that has been sold but not delivered. For classified balance sheets, used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer); for unclassified balance sheets, used to reflect the total liabilities (regardless of due date).

No definition available.