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Commitments and Contingent Liabilities (Tables)

12 Months Ended

Dec. 31, 2022

Commitments and Contingencies [Abstract]

The following table summarizes our various contractual obligations at December 31, 2022. A description of each type of contractual obligation follows:

	Payment or Settlement due by Period
Contractual Obligations	Total		2023		2024		2025		2026		2027		Thereafter
Scheduled maturities of debt obligations	$	28,566	$	1,745	$	850	$	1,150	$	875	$	575	$	23,371
Estimated cash interest payments	$	27,324	$	1,239	$	1,200	$	1,158	$	1,124	$	1,100	$	21,503
Operating lease obligations	$	493	$	71	$	63	$	49	$	34	$	31	$	245
Purchase obligations:
Product purchase commitments:
Estimated payment obligations:
Natural gas	$	245	$	109	$	109	$	27	$	–	$	–	$	–
NGLs	$	4,043	$	847	$	841	$	705	$	414	$	406	$	830
Crude oil	$	13,138	$	2,333	$	2,293	$	2,224	$	1,902	$	1,797	$	2,589
Petrochemicals and refined products	$	194	$	105	$	89	$	–	$	–	$	–	$	–
Other	$	24	$	7	$	6	$	4	$	2	$	2	$	3
Service payment commitments	$	200	$	40	$	34	$	17	$	13	$	13	$	83

Operating Leases

The following table presents information regarding operating leases where we are the lessee at December 31, 2022:

Asset Category	ROU Asset Carrying Value (1)		Lease Liability Carrying Value (2)		Weighted- Average Remaining Term	Weighted- Average Discount Rate (3)
Storage and pipeline facilities	$	191	$	193	10 years		3.7	%
Transportation equipment		17		17	4 years		3.5	%
Office and warehouse space		157		191	14 years		3.0	%
Total	$	365	$	401

(1)	ROU asset amounts are a component of “Other assets” on our Consolidated Balance Sheet.
(2)	At December 31, 2022, lease liabilities of $60 million and $341 million were included within “Other current liabilities” and “Other long-term liabilities,” respectively.
(3)	The discount rate for each category of assets represents the weighted average incremental borrowing rate adjusted for collateralization (if the implicit rate is not determinable). In general, the discount rates are based on either (i) information available at the lease commencement date or (ii) January 1, 2019 for leases existing at the adoption date for ASC 842.

Consolidated Lease Expense

The following table disaggregates our total operating lease expense for the years indicated:

	For the Year Ended December,
	2022		2021		2020
Long-term operating leases:
Fixed lease expense:
Non-cash lease expense (amortization of ROU assets)	$	59	$	41	$	39
Related accretion expense on lease liability balances		12		12		13
Total fixed lease expense		71		53		52
Variable lease expense		6		1		–
Subtotal operating lease expense		77		54		52
Short-term operating leases		91		54		50
Total operating lease expense	$	168	$	108	$	102

Schedule of Other Liabilities

The following table summarizes the components of “Other long-term liabilities” as presented on our Consolidated Balance Sheets at the dates indicated:

	December 31,
	2022		2021
Noncurrent portion of AROs (see Note 4)	$	214	$	159
Deferred revenues – non-current portion (see Note 9)		320		250
Lease liability – non-current portion		341		339
Derivative liabilities		58		2
Other		8		10
Total	$	941	$	760