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Income Taxes (Tables) | 12 Months Ended
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Dec. 31, 2025
Income Tax Disclosure [Abstract] |
Schedule of Income Tax Benefit (Provision) | Our federal, state and foreign income tax benefit (provision) is summarized below:
|  |  | For the Year Ended December 31,
|  |  |  |  | 2025 |  | 2024 |  | 2023
Current portion of income tax provision: |  |  |  |  |  |  |  |  |
Federal |  |  |  |  | $ | (2) |  |  | $ | (2) |  |  | $ | (12) |
State |  |  |  |  | 25 |  |  | (18) |  |  | (20) |
Total current portion |  |  |  |  | 23 |  |  | (20) |  |  | (32) |
Deferred portion of income tax provision: |  |  |  |  |  |  |  |  |
Federal |  |  |  |  | (17) |  |  | (16) |  |  | 17 |
State |  |  |  |  | (29) |  |  | (28) |  |  | (29) |
Foreign |  |  |  |  | – |  |  | (1) |  |  | – |
Total deferred portion |  |  |  |  | (46) |  |  | (45) |  |  | (12) |
Total provision for income taxes |  |  |  |  | $ | (23) |  |  | $ | (65) |  |  | $ | (44) |
Schedule of Reconciliation of Benefit from (Provision for) Income Taxes | A reconciliation of the provision for income taxes with amounts determined by applying the statutory U.S. federal income tax rate to income before income taxes is as follows:
|  |  | For the Year Ended December 31,
|  |  |  |  | 2025 |  | 2024 |  | 2023
Pre-Tax Net Book Income (“NBI”) |  |  |  |  | $ | 5,899 |  |  |  | $ | 6,035 |  |  |  | $ | 5,701 |  |
Income tax provision at the U.S. federal income tax rate |  |  |  |  | (1,239) |  | (21.0) | % |  | (1,267) |  | (21.0) | % |  | (1,197) |  | (21.0) | %
Reduction (increase) in provision for income taxes resulting from: |  |  |  |  |  |  |  |  |  |  |  |
Partnership income not subject to federal income tax |  |  |  |  | 1,220 |  | 20.7 | % |  | 1,250 |  | 20.7 | % |  | 1,181 |  | 20.7 | %
Texas Margin Tax (1) |  |  |  |  | (3) |  | (0.1) | % |  | (44) |  | (0.7) | % |  | (49) |  | (0.9) | %
Change in valuation allowance (2) |  |  |  |  | – |  | – | % |  | – |  | – | % |  | 22 |  | 0.4 | %
Other |  |  |  |  | (1) |  | – | % |  | (4) |  | (0.1) | % |  | (1) |  | – | %
Provision for income taxes |  |  |  |  | $ | (23) |  | (0.4) | % |  | $ | (65) |  | (1.1) | % |  | $ | (44) |  | (0.8) | %
Effective income tax rate |  |  |  |  | (0.4) | % |  |  | (1.1) | % |  |  | (0.8) | % |
(1)Although the Texas Margin Tax is not considered a state income tax, it has the characteristics of an income tax since it is determined by applying a tax rate to a base that considers our Texas-sourced revenues and expenses. (2)During 2023, management concluded that it is more likely than not that the deferred tax assets attributable to OTA will be fully realizable. As a result, for the year-end December 31, 2023, we recorded a full release of the valuation allowance against OTA’s deferred tax assets.
Schedule of Components of Deferred Tax Assets and Liabilities | The following table presents the significant components of deferred tax assets and deferred tax liabilities at the dates indicated:
| December 31,
| 2025 |  | 2024
Deferred tax liabilities: |  |  |
Attributable to investment in OTA (1) | $ | 495 |  |  | $ | 462 |
Attributable to property, plant and equipment | 172 |  |  | 151 |
Attributable to investments in other entities | 4 |  |  | 5 |
Other | 107 |  |  | 98 |
Total deferred tax liabilities | 778 |  |  | 716 |
Deferred tax assets: |  |  |
Net operating loss carryovers (2) | 73 |  |  | 56 |
Temporary differences related to Texas Margin Tax | 3 |  |  | 4 |
Total deferred tax assets | 76 |  |  | 60 |
Total net deferred tax liabilities | $ | 702 |  |  | $ | 656 |
(1)Represents the deferred tax liability balance held by our wholly owned subsidiary, OTA, which we acquired in March 2020. (2)The loss amount presented as of December 31, 2025 has an indefinite carryover period. All losses are subject to limitations on their utilization.
Schedule of Income Taxes Paid, Net | The following table presents income taxes paid, net of refunds received, during the periods indicated:
|  |  | For the Year Ended December 31,
|  |  |  |  | 2025 |  | 2024 |  | 2023
Federal |  |  |  |  | $ | 1 |  |  | $ | 2 |  |  | $ | 3 |
State |  |  |  |  | 11 |  |  | 18 |  |  | 21 |
Total |  |  |  |  | $ | 12 |  |  | $ | 20 |  |  | $ | 24 |
The following table provides information regarding the net effect of changes in our operating accounts and cash payments for interest for the years indicated:
| For the Year Ended December 31,
| 2025 |  | 2024 |  | 2023
Decrease (increase) in: |  |  |  |  |
Accounts receivable – trade | $ | 2,748 |  |  | $ | (1,453) |  |  | $ | (810) |
Accounts receivable – related parties | 3 |  |  | 2 |  |  | 4 |
Inventories | 122 |  |  | (598) |  |  | (714) |
Prepaid and other current assets | 27 |  |  | (152) |  |  | (651) |
Other assets | 58 |  |  | 38 |  |  | 31 |
Increase (decrease) in: |  |  |  |  |
Accounts payable – trade | (147) |  |  | (182) |  |  | 309 |
Accounts payable – related parties | 19 |  |  | (1) |  |  | (33) |
Accrued product payables | (2,649) |  |  | 1,867 |  |  | 849 |
Accrued interest | 29 |  |  | 81 |  |  | 29 |
Other current liabilities | (182) |  |  | 15 |  |  | 484 |
Other long-term liabilities | (152) |  |  | (123) |  |  | (53) |
Net effect of changes in operating accounts | $ | (124) |  |  | $ | (506) |  |  | $ | (555) |
Cash payments for interest, net of $182, $121 and $106 capitalized in 2025, 2024 and 2023, respectively | $ | 1,352 |  |  | $ | 1,255 |  |  | $ | 1,228 |

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