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UNAUDITED CONDENSED STATEMENTS OF CONSOLIDATED CASH FLOWS - USD ($)
$ in Millions
 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Operating activities:    
Net income $ 4,337 $ 4,055
Reconciliation of net income to net cash flow provided by operating activities:    
Depreciation and accretion 1,479 1,388
Amortization of intangible assets 155 148
Amortization of major maintenance costs for reaction-based plants 42 48
Other amortization expense 169 158
Impairment of assets other than goodwill 51 28
Equity in income of unconsolidated affiliates (302) (347)
Distributions received from unconsolidated affiliates attributable to earnings 303 330
Net losses (gains) attributable to asset sales and related matters 5 (4)
Deferred income tax expense 23 5
Change in fair market value of derivative instruments (11) 48
Non-cash expense related to long-term operating leases 68 51
Net effect of changes in operating accounts (563) (706)
Other operating activities 1 1
Net cash flow provided by operating activities 5,757 5,203
Investing activities:    
Capital expenditures (3,485) (2,254)
Investments in unconsolidated affiliates 0 (2)
Distributions received from unconsolidated affiliates attributable to the return of capital 64 37
Proceeds from asset sales and other matters 11 7
Other investing activities (23) (8)
Net cash flow used in investing activities (3,433) (2,220)
Financing activities:    
Borrowings under debt agreements 52,456 57,685
Repayments of debt (49,271) (57,062)
Debt issuance costs (44) (17)
Monetization of interest rate derivative instruments (33) 21
Cash distributions paid to common unitholders (3,374) (3,215)
Cash payments made in connection with distribution equivalent rights (32) (29)
Cash distributions paid to noncontrolling interests (84) (121)
Cash contributions from noncontrolling interests 33 25
Repurchase of common units under 2019 Buyback Program (156) (92)
Acquisition of noncontrolling interests (400) (10)
Other financing activities (66) (60)
Net cash flow used in financing activities (971) (2,875)
Net change in cash and cash equivalents, including restricted cash 1,353 108
Cash and cash equivalents, including restricted cash, at beginning of period 320 206
Cash and cash equivalents, including restricted cash, at end of period $ 1,673 $ 314