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Investments in Unconsolidated Affiliates | 6 Months Ended
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Jun. 30, 2025
Equity Method Investments and Joint Ventures [Abstract] |
Investments in Unconsolidated Affiliates | Note 5. Investments in Unconsolidated Affiliates The following table presents our investments in unconsolidated affiliates by business segment at the dates indicated. We account for these investments using the equity method.
| June 30, 2025 |  | December 31, 2024
NGL Pipelines & Services | $ | 578 |  |  | $ | 598 |
Crude Oil Pipelines & Services | 1,610 |  |  | 1,628 |
Natural Gas Pipelines & Services | 32 |  |  | 30 |
Petrochemical & Refined Products Services | 1 |  |  | 3 |
Total | $ | 2,221 |  |  | $ | 2,259 |
The following table presents our equity in income of unconsolidated affiliates by business segment for the periods indicated:
| For the Three Months Ended June 30, |  | For the Six Months Ended June 30,
| 2025 |  | 2024 |  | 2025 |  | 2024
NGL Pipelines & Services | $ | 18 |  |  | $ | 26 |  |  | $ | 38 |  |  | $ | 57 |
Crude Oil Pipelines & Services | 72 |  |  | 73 |  |  | 144 |  |  | 142 |
Natural Gas Pipelines & Services | – |  |  | 1 |  |  | 2 |  |  | 3 |
Petrochemical & Refined Products Services | 2 |  |  | 1 |  |  | 2 |  |  | 1 |
Total | $ | 92 |  |  | $ | 101 |  |  | $ | 186 |  |  | $ | 203 |
In June 2025, we sold our 25% membership interest in Transport 4, L.L.C. (“Transport 4”) to third parties for cash proceeds of $8 million and recorded a $6 million gain.

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- Definition The entire disclosure for equity method investments and joint ventures. Equity method investments are investments that give the investor the ability to exercise significant influence over the operating and financial policies of an investee. Joint ventures are entities owned and operated by a small group of businesses as a separate and specific business or project for the mutual benefit of the members of the group. + References Reference 1: http://www.xbrl.org/2003/role/recommendedDisclosureRef -Topic 740 -SubTopic 323 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (f) -Publisher FASB -URI https://asc.fasb.org/1943274/2147478156/740-323-50-2 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 323 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Subparagraph (a)(3) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481687/323-10-50-3 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 323 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481687/323-10-50-3 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Topic 323 -Publisher FASB -URI https://asc.fasb.org/323/tableOfContent + Details
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