Revenues (Tables)


	For the Three Months Ended September 30,				For the Nine Months Ended September 30,
	2026		2025		2026		2025
NGL Pipelines & Services:
Sales of NGLs and related products	$	5,154	$	2,736	$	12,898	$	10,110
Segment midstream services:
Natural gas processing and fractionation	390		341		1,125		989
Transportation	306		314		918		934
Storage and terminals	95		74		270		238
Total segment midstream services	791		729		2,313		2,161
Total NGL Pipelines & Services	5,945		3,465		15,211		12,271
Crude Oil Pipelines & Services:
Sales of crude oil	6,317		5,087		20,374		14,391
Segment midstream services:
Transportation	194		202		550		586
Storage and terminals	120		107		345		323
Total segment midstream services	314		309		895		909
Total Crude Oil Pipelines & Services	6,631		5,396		21,269		15,300
Natural Gas Pipelines & Services:
Sales of natural gas	665		476		1,462		1,893
Segment midstream services:
Transportation	523		456		1,492		1,331
Total segment midstream services	523		456		1,492		1,331
Total Natural Gas Pipelines & Services	1,188		932		2,954		3,224
Petrochemical & Refined Products Services:
Sales of petrochemicals and refined products	3,856		1,919		10,149		7,020
Segment midstream services:
Fractionation and isomerization	75		70		248		257
Transportation, including marine logistics	173		156		518		488
Storage and terminals	80		85		254		243
Total segment midstream services	328		311		1,020		988
Total Petrochemical & Refined Products Services	4,184		2,230		11,169		8,008
Total consolidated revenues	$	17,948	$	12,023	$	50,603	$	38,803

The following tables provide information regarding our contract assets and contract liabilities at September 30, 2026:




Contract Asset	Location	Balance
Unbilled revenue (current amount)	Prepaid and other current assets	$	9
Total		$	9

Contract Liability

Location

Balance

Deferred revenue (current amount)

Other current liabilities

168

Deferred revenue (noncurrent)

Other long-term liabilities

366

Total

534

The following table presents significant changes in our unbilled revenue and deferred revenue balances for the nine months ended September 30, 2026:


	Unbilled Revenue		Deferred Revenue










Balance at December 31, 2025	$	6	$	418
Amount included in opening balance transferred to other accounts during period (1)	(6)		(138)
Amount recorded during period (2)	75		761
Amounts recorded during period transferred to other accounts (1)	(66)		(508)
Other changes	–		1
Balance at September 30, 2026	$	9	$	534

(1)Unbilled revenues are transferred to accounts receivable once we have an unconditional right to consideration from the customer. Deferred revenues are recognized as revenue upon satisfaction of our performance obligation to the customer.

(2)Unbilled revenue represents revenue that has been recognized upon satisfaction of a performance obligation, but cannot be contractually invoiced (or billed) to the customer at the balance sheet date until a future period. Deferred revenue is recorded when payment is received from a customer prior to our satisfaction of the associated performance obligation.

The following table presents estimated fixed future consideration from revenue contracts that contain minimum volume commitments, deficiency and similar fees and the term of the contracts exceeds one year. These amounts represent the revenues we expect to recognize in future periods from these contracts as of September 30, 2026.


Period	Fixed Consideration
Three months ended December 31, 2026	$	1,178
One year ended December 31, 2027	4,663
One year ended December 31, 2028	4,139
One year ended December 31, 2029	3,289
One year ended December 31, 2030	2,507
Thereafter	10,039
Total	$	25,815