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Investments in Unconsolidated Affiliates | 12 Months Ended
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Dec. 31, 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.
| Ownership Interest at December 31, 2025 |  | December 31,
|  | 2025 |  | 2024
NGL Pipelines & Services: |  |  |  |  |
Venice Energy Service Company, L.L.C. (“VESCO”) | 13.1% |  | $ | 24 |  |  | $ | 24 |
K/D/S Promix, L.L.C. (“Promix”) | 50% |  | 21 |  |  | 22 |
Baton Rouge Fractionators LLC (“BRF”) | 32.2% |  | 12 |  |  | 12 |
Skelly-Belvieu Pipeline Company, L.L.C. (“Skelly-Belvieu”) | 50% |  | 21 |  |  | 25 |
Texas Express Pipeline LLC (“Texas Express”) | 35% |  | 287 |  |  | 299 |
Texas Express Gathering LLC (“TEG”) | 45% |  | 32 |  |  | 33 |
Front Range Pipeline LLC (“Front Range”) | 33.3% |  | 175 |  |  | 183 |
Total NGL Pipelines & Services |  |  | 572 |  |  | 598 |
Crude Oil Pipelines & Services: |  |  |  |  |
Seaway Crude Holdings LLC (“Seaway”) | 50% |  | 1,120 |  |  | 1,147 |
Eagle Ford Pipeline LLC (“Eagle Ford Crude Oil Pipeline”) | 50% |  | 351 |  |  | 368 |
Eagle Ford Terminals Corpus Christi LLC (“Eagle Ford Corpus Christi”) | 50% |  | 110 |  |  | 113 |
Total Crude Oil Pipelines & Services |  |  | 1,581 |  |  | 1,628 |
Natural Gas Pipelines & Services: |  |  |  |  |
White River Hub, LLC (“White River Hub”) | 50% |  | 16 |  |  | 16 |
Old Ocean Pipeline, LLC (“Old Ocean”) | 50% |  | 15 |  |  | 14 |
Total Natural Gas Pipelines & Services |  |  | 31 |  |  | 30 |
Petrochemical & Refined Products Services: |  |  |  |  |
Baton Rouge Propylene Concentrator LLC (“BRPC”) | 30% |  | 1 |  |  | 1 |
Transport 4, LLC (“Transport 4”) (1) |  |  | – |  |  | 2 |
Total Petrochemical & Refined Products Services |  |  | 1 |  |  | 3 |
Total investments in unconsolidated affiliates |  |  | $ | 2,185 |  |  | $ | 2,259 |
(1)In June 2025, we sold our 25% membership interest in Transport 4 to third parties for cash proceeds of $8 million and recorded a $6 million gain. NGL Pipelines & Services The principal business activity of each investee included in our NGL Pipelines & Services segment is described as follows: •VESCO owns the Venice natural gas processing facility and a related gathering system located in south Louisiana. •Promix owns an NGL fractionation facility and a related gathering system located in south Louisiana. •BRF owns an NGL fractionation facility located in south Louisiana. •Skelly-Belvieu owns a pipeline that transports mixed NGLs from Skellytown, Texas to Chambers County, Texas. •Texas Express owns an NGL pipeline that extends from Skellytown, Texas to our Chambers County NGL fractionation and storage complex. Mixed NGLs from the Rocky Mountains, Permian Basin and Mid-Continent regions are delivered to the Texas Express Pipeline via an interconnect with our Mid-America Pipeline System near Skellytown. In addition, the Texas Express Pipeline transports mixed NGLs gathered by Texas Express Gathering System. Also, mixed NGLs originating from the Denver-Julesburg (“DJ”) Basin in Colorado are transported to the Texas Express Pipeline using the Front Range Pipeline. •TEG owns two NGL gathering systems that deliver mixed NGLs to the Texas Express Pipeline. •Front Range owns an NGL pipeline that transports mixed NGLs from natural gas processing facilities located in the DJ Basin to an interconnect with our Texas Express Pipeline and Mid-America Pipeline System and other third party facilities near Skellytown, Texas. Crude Oil Pipelines & Services The principal business activity of each investee included in our Crude Oil Pipelines & Services segment is described as follows: •Seaway owns a crude oil pipeline system that connects the Cushing, Oklahoma hub, which is a major industry trading hub and price settlement point for West Texas Intermediate on the NYMEX, with markets in Southeast Texas. The Seaway Pipeline is comprised of the Longhaul System, the Freeport System and the Texas City System. •Eagle Ford Crude Oil Pipeline owns a pipeline that transports crude oil and condensate for producers in South Texas. The system originates in Gardendale, Texas and extends to Corpus Christi, Texas. The system interconnects with our South Texas Crude Oil Pipeline System and a marine terminal owned by Eagle Ford Corpus Christi. •Eagle Ford Corpus Christi owns a marine crude oil terminal located in Corpus Christi, Texas that can load ocean-going vessels with either crude oil or condensate. Natural Gas Pipelines & Services The principal business activity of each investee included in our Natural Gas Pipelines & Services segment is described as follows: •White River Hub owns a natural gas hub facility serving producers in the Piceance Basin of northwest Colorado. •Old Ocean owns a natural gas pipeline that extends from near Maypearl, Texas to Sweeny, Texas. Petrochemical & Refined Products Services The principal business activity of the investee included in our Petrochemical & Refined Products Services segment is described as follows: •BRPC owns a propylene fractionation facility located in south Louisiana. Equity Earnings The following table presents our equity in income of unconsolidated affiliates by business segment for the years indicated:
|  |  | For the Year Ended December 31,
|  |  |  |  | 2025 |  | 2024 |  | 2023
NGL Pipelines & Services |  |  |  |  | $ | 83 |  |  | $ | 117 |  |  | $ | 133 |
Crude Oil Pipelines & Services |  |  |  |  | 271 |  |  | 285 |  |  | 320 |
Natural Gas Pipelines & Services |  |  |  |  | 5 |  |  | 5 |  |  | 6 |
Petrochemical & Refined Products Services |  |  |  |  | 2 |  |  | 1 |  |  | 3 |
Total |  |  |  |  | $ | 361 |  |  | $ | 408 |  |  | $ | 462 |

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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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