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v3.25.1

Earnings Per Unit (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions | 3 Months Ended
--- | ---
Mar. 31, 2025 | Mar. 31, 2024
BASIC EARNINGS PER COMMON UNIT |  |  |
Net income attributable to common unitholders |  | $ 1,393 | $ 1,456
Earnings allocated to phantom unit awards | [1] | (13) | (14)
Net income allocated to common unitholders |  | $ 1,380 | $ 1,442
Basic weighted-average number of common units outstanding (in units) |  | 2,168 | 2,170
Basic earnings per common unit (in dollars per unit) |  | $ 0.64 | $ 0.66
DILUTED EARNINGS PER COMMON UNIT |  |  |
Net income attributable to common unitholders |  | $ 1,393 | $ 1,456
Net income attributable to preferred units |  | 1 | 1
Net income attributable to limited partners |  | $ 1,394 | $ 1,457
Diluted weighted-average number of units outstanding: |  |  |
Distribution-bearing common units (in units) |  | 2,168 | 2,170
Phantom units (in units) | [2] | 21 | 21
Preferred units (in units) | [2] | 2 | 2
Total (in units) |  | 2,191 | 2,193
Diluted earnings per common unit (in dollars per unit) |  | $ 0.64 | $ 0.66
[1] | Phantom units are considered participating securities for purposes of computing basic earnings per unit. See Note 13 for information regarding our phantom units.
[2] | We use the “if-converted method” to determine the potential dilutive effect of the vesting of phantom unit awards and the conversion of preferred units outstanding. See Note 13 for information regarding phantom unit awards. See Note 8 for information regarding preferred units.

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