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UNAUDITED CONDENSED STATEMENTS OF CONSOLIDATED CASH FLOWS - USD ($)
$ in Millions
 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Operating activities:    
Net income $ 2,905 $ 2,705
Reconciliation of net income to net cash flow provided by operating activities:    
Depreciation and accretion 981 910
Amortization of intangible assets 101 96
Amortization of major maintenance costs for reaction-based plants 27 31
Other amortization expense 118 106
Impairment of assets other than goodwill 24 16
Equity in income of unconsolidated affiliates (203) (225)
Distributions received from unconsolidated affiliates attributable to earnings 204 217
Net losses (gains) attributable to asset sales and related matters 5 (4)
Deferred income tax expense (benefit) 14 (8)
Change in fair market value of derivative instruments (8) 10
Non-cash expense related to long-term operating leases 43 33
Net effect of changes in operating accounts (527) (403)
Other operating activities 1 1
Net cash flow provided by operating activities 3,685 3,485
Investing activities:    
Capital expenditures (2,311) (1,433)
Distributions received from unconsolidated affiliates attributable to the return of capital 39 30
Proceeds from asset sales and other matters 6 6
Other investing activities (15) (5)
Net cash flow used in investing activities (2,281) (1,402)
Financing activities:    
Borrowings under debt agreements 38,281 28,595
Repayments of debt (36,685) (28,238)
Debt issuance costs (19) (17)
Monetization of interest rate derivative instruments (29) 21
Cash distributions paid to common unitholders (2,235) (2,129)
Cash payments made in connection with distribution equivalent rights (21) (19)
Cash distributions paid to noncontrolling interests (63) (81)
Cash contributions from noncontrolling interests 25 15
Repurchase of common units under 2019 Buyback Program (80) (92)
Acquisition of noncontrolling interests (400) (10)
Other financing activities (64) (57)
Net cash flow used in financing activities (1,290) (2,012)
Net change in cash and cash equivalents, including restricted cash 114 71
Cash and cash equivalents, including restricted cash, at beginning of period 320 206
Cash and cash equivalents, including restricted cash, at end of period $ 434 $ 277