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Revenues (Tables) | 12 Months Ended
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Dec. 31, 2025
Revenue from Contract with Customer [Abstract] |
Schedule of Revenues by Business Segment | The following table presents our revenues by business segment, and further by revenue type, for the years indicated:
|  |  | For the Year Ended December 31,
|  |  |  |  | 2025 |  | 2024 |  | 2023
NGL Pipelines & Services: |  |  |  |  |  |  |  |  |
Sales of NGLs and related products |  |  |  |  | $ | 14,415 |  |  | $ | 17,397 |  |  | $ | 14,846 |
Segment midstream services: |  |  |  |  |  |  |  |  |
Natural gas processing and fractionation |  |  |  |  | 1,261 |  |  | 1,349 |  |  | 1,278 |
Transportation |  |  |  |  | 1,299 |  |  | 1,151 |  |  | 1,090 |
Storage and terminals |  |  |  |  | 341 |  |  | 379 |  |  | 431 |
Total segment midstream services |  |  |  |  | 2,901 |  |  | 2,879 |  |  | 2,799 |
Total NGL Pipelines & Services |  |  |  |  | 17,316 |  |  | 20,276 |  |  | 17,645 |
Crude Oil Pipelines & Services: |  |  |  |  |  |  |  |  |
Sales of crude oil |  |  |  |  | 19,560 |  |  | 20,389 |  |  | 18,185 |
Segment midstream services: |  |  |  |  |  |  |  |  |
Transportation |  |  |  |  | 770 |  |  | 779 |  |  | 744 |
Storage and terminals |  |  |  |  | 431 |  |  | 412 |  |  | 407 |
Total segment midstream services |  |  |  |  | 1,201 |  |  | 1,191 |  |  | 1,151 |
Total Crude Oil Pipelines & Services |  |  |  |  | 20,761 |  |  | 21,580 |  |  | 19,336 |
Natural Gas Pipelines & Services: |  |  |  |  |  |  |  |  |
Sales of natural gas |  |  |  |  | 2,355 |  |  | 1,458 |  |  | 2,373 |
Segment midstream services: |  |  |  |  |  |  |  |  |
Transportation |  |  |  |  | 1,812 |  |  | 1,546 |  |  | 1,403 |
Total segment midstream services |  |  |  |  | 1,812 |  |  | 1,546 |  |  | 1,403 |
Total Natural Gas Pipelines & Services |  |  |  |  | 4,167 |  |  | 3,004 |  |  | 3,776 |
Petrochemical & Refined Products Services: |  |  |  |  |  |  |  |  |
Sales of petrochemicals and refined products |  |  |  |  | 9,010 |  |  | 10,013 |  |  | 7,689 |
Segment midstream services: |  |  |  |  |  |  |  |  |
Fractionation and isomerization |  |  |  |  | 354 |  |  | 371 |  |  | 282 |
Transportation, including marine logistics |  |  |  |  | 668 |  |  | 663 |  |  | 660 |
Storage and terminals |  |  |  |  | 320 |  |  | 312 |  |  | 327 |
Total segment midstream services |  |  |  |  | 1,342 |  |  | 1,346 |  |  | 1,269 |
Total Petrochemical & Refined Products Services |  |  |  |  | 10,352 |  |  | 11,359 |  |  | 8,958 |
Total consolidated revenues |  |  |  |  | $ | 52,596 |  |  | $ | 56,219 |  |  | $ | 49,715 |
Schedule of Unbilled Revenue and Deferred Revenue | The following table provides information regarding our contract assets and contract liabilities at the dates indicated:
|  | December 31,
Contract Asset | Location | 2025 |  | 2024
Unbilled revenue (current amount) | Prepaid and other current assets | $ | 6 |  |  | $ | 9 |
Total |  | $ | 6 |  |  | $ | 9 |
|  | December 31,
Contract Liability | Location | 2025 |  | 2024
Deferred revenue (current amount) | Other current liabilities | $ | 157 |  |  | $ | 168 |
Deferred revenue (noncurrent) | Other long-term liabilities | 261 |  |  | 284 |
Total |  | $ | 418 |  |  | $ | 452 |
The following table presents significant changes in our unbilled revenue and deferred revenue balances during the years indicated:
| Unbilled Revenue |  | Deferred Revenue
Balance at December 31, 2022 | $ | 6 |  |  | $ | 501 |
Amount included in opening balance transferred to other accounts during period (1) | (6) |  |  | (271) |
Amount recorded during period (2) | 81 |  |  | 956 |
Amounts recorded during period transferred to other accounts (1) | (70) |  |  | (656) |
Other changes | – |  |  | (11) |
Balance at December 31, 2023 | $ | 11 |  |  | $ | 519 |
Amount included in opening balance transferred to other accounts during period (1) | (11) |  |  | (242) |
Amount recorded during period (2) | 79 |  |  | 853 |
Amounts recorded during period transferred to other accounts (1) | (70) |  |  | (672) |
Other changes | – |  |  | (6) |
Balance at December 31, 2024 | $ | 9 |  |  | $ | 452 |
Amount included in opening balance transferred to other accounts during period (1) | (9) |  |  | (192) |
Amount recorded during period (2) | 86 |  |  | 814 |
Amounts recorded during period transferred to other accounts (1) | (80) |  |  | (650) |
Other changes | – |  |  | (6) |
Balance at December 31, 2025 | $ | 6 |  |  | $ | 418 |
(1)Unbilled revenues are transferred to accounts receivable once we have an unconditional right to consideration from the customer. Deferred revenues are recognized as revenue upon satisfaction of our performance obligation to the customer. (2)Unbilled revenue represents revenue that has been recognized upon satisfaction of a performance obligation, but cannot be contractually invoiced (or billed) to the customer at the balance sheet date until a future period. Deferred revenue is recorded when payment is received from a customer prior to our satisfaction of the associated performance obligation.
Schedule of Remaining Performance Obligations | The following table presents estimated fixed future consideration from revenue contracts that contain minimum volume commitments, deficiency and similar fees and the term of the contracts exceeds one year. These amounts represent the revenues we expect to recognize in future periods from these contracts as of December 31, 2025. For a significant portion of our revenue, we bill customers a contractual rate for the services provided multiplied by the amount of volume handled in a given period. We have the right to invoice the customer in the amount that corresponds directly with the value of our performance completed to date. Therefore, we are not required to disclose information about the variable consideration of remaining performance obligations since we recognize revenue equal to the amount that we have the right to invoice.
Period |  | Fixed Consideration
One year ended December 31, 2026 |  | $ | 4,480 |
One year ended December 31, 2027 |  | 4,270 |
One year ended December 31, 2028 |  | 3,836 |
One year ended December 31, 2029 |  | 2,999 |
One year ended December 31, 2030 |  | 2,227 |
Thereafter |  | 9,294 |
Total |  | $ | 27,106 |

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- Definition Tabular disclosure of receivable, contract asset, and contract liability from contract with customer. Includes, but is not limited to, change in contract asset and contract liability. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 10 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-10 + Details
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