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Business Segments and Related Information (Tables)
12 Months Ended
Dec. 31, 2025
Segment Reporting [Abstract]  
Schedule of Total Segment Gross Operating Margin to Income Before Income Taxes
The following table presents a reconciliation of total segment gross operating margin to income before income taxes for the years indicated:
For the Year Ended December 31,
202520242023
Total segment gross operating margin$10,054 $10,018 $9,376 
Adjustments to reconcile total segment gross operating margin to income before income taxes (addition or subtraction indicated by sign):
Depreciation, amortization and accretion expense in operating costs and expenses (1)(2,477)(2,343)(2,215)
Asset impairment charges in operating costs and expenses(50)(57)(30)
Net gains (losses) attributable to asset sales and related matters in operating costs and expenses14 (2)10 
General and administrative costs(251)(244)(231)
Non-refundable payments received from shippers attributable to make-up rights (2)(55)(75)(52)
Subsequent recognition of revenues attributable to make-up rights (3)31 41 71 
Total other expense, net (4)(1,367)(1,303)(1,228)
Income before income taxes$5,899 $6,035 $5,701 
(1)Excludes amortization of major maintenance costs for reaction-based plants and amortization of finance lease right-of-use assets, which are components of gross operating margin.
(2)Since make-up rights entail a future performance obligation by the pipeline to the shipper, these receipts are recorded as deferred revenue for GAAP purposes; however, these receipts are included in gross operating margin in the period of receipt since they are non-refundable to the shipper.
(3)As deferred revenues attributable to make-up rights are subsequently recognized as revenue under GAAP, gross operating margin must be adjusted to remove such amounts to prevent duplication since the associated non-refundable payments were previously included in gross operating margin.
(4)As presented on our Statements of Consolidated Operations, Total other expense, net is comprised of Interest expense, Interest income and Other, net.
Schedule of Segment Financial Information
The following tables present segment revenues and significant segment expenses by segment, together with a reconciliation to segment gross operating margin, for the periods indicated:
For the Year Ended December 31, 2025
NGL
Pipelines
& Services
Crude Oil
Pipelines
& Services
Natural Gas
Pipelines
& Services
Petrochemical
& Refined
Products
Services
Segment
Total
Segment revenues:
Revenues from third parties$17,308 $20,735 $4,149 $10,352 $52,544 
Revenues from related parties26 18 – 52 
Intersegment and intrasegment revenues67,059 42,375 960 21,146 131,540 
Total segment revenues84,375 63,136 5,127 31,498 184,136 
Significant segment expenses:
Cost of sales76,347 61,380 2,746 28,496 168,969 
Variable operating costs and expenses (1)844 140 77 453 1,514 
Fixed operating costs and expenses (2)1,750 408 758 1,129 4,045 
Total significant segment expenses78,941 61,928 3,581 30,078 174,528 
Other segment income:
Equity in income of unconsolidated affiliates83 271 361 
Other segment items (3)42 22 14 85 
Total other segment income125 293 12 16 446 
Total segment gross operating margin$5,559 $1,501 $1,558 $1,436 $10,054 
Other financial information:
Capital expenditures$3,326 $112 $1,628 $554 $5,620 
(1)Variable operating costs and expenses represent the cost of operating our plants, pipelines and other fixed assets that generally fluctuate based on utilization.
(2)Fixed operating costs and expenses represent the cost of operating our plants, pipelines and other fixed assets that generally remain constant independent of utilization.
(3)Other segment items for each segment primarily represent the following:
NGL Pipelines & Services – Non-refundable payments received from shippers attributable to make-up rights, subsequent recognition of revenues attributable to make-up rights, and other miscellaneous segment items.
Crude Oil Pipelines & Services – Other miscellaneous segment items.
Natural Gas Pipelines & Services – Other miscellaneous segment items.
Petrochemical & Refined Products Services – Other miscellaneous segment items.
For the Year Ended December 31, 2024
NGL
Pipelines
& Services
Crude Oil
Pipelines
& Services
Natural Gas
Pipelines
& Services
Petrochemical
& Refined
Products
Services
Segment
Total
Segment revenues:
Revenues from third parties$20,264 $21,546 $2,992 $11,359 $56,161 
Revenues from related parties12 34 12 – 58 
Intersegment and intrasegment revenues48,822 54,415 667 25,352 129,256 
Total segment revenues69,098 75,995 3,671 36,711 185,475 
Significant segment expenses:
Cost of sales61,260 74,098 1,656 33,755 170,769 
Variable operating costs and expenses (1)745 132 73 373 1,323 
Fixed operating costs and expenses (2)1,682 414 676 1,048 3,820 
Total significant segment expenses63,687 74,644 2,405 35,176 175,912 
Other segment income (expense):
Equity in income of unconsolidated affiliates117 285 408 
Other segment items (3)20 10 11 47 
Total other segment income137 295 11 12 455 
Total segment gross operating margin$5,548 $1,646 $1,277 $1,547 $10,018 
Other financial information:
Capital expenditures$2,498 $161 $932 $953 $4,544 
(1)Variable operating costs and expenses represent the cost of operating our plants, pipelines and other fixed assets that generally fluctuate based on utilization.
(2)Fixed operating costs and expenses represent the cost of operating our plants, pipelines and other fixed assets that generally remain constant independent of utilization.
(3)Other segment items for each segment primarily represent the following:
NGL Pipelines & Services – Non-refundable payments received from shippers attributable to make-up rights, subsequent recognition of revenues attributable to make-up rights, and other miscellaneous segment items.
Crude Oil Pipelines & Services – Other miscellaneous segment items.
Natural Gas Pipelines & Services – Other miscellaneous segment items.
Petrochemical & Refined Products Services – Other miscellaneous segment items.
For the Year Ended December 31, 2023
NGL
Pipelines
& Services
Crude Oil
Pipelines
& Services
Natural Gas
Pipelines
& Services
Petrochemical
& Refined
Products
Services
Segment
Total
Segment revenues:
Revenues from third parties$17,635 $19,300 $3,761 $8,958 $49,654 
Revenues from related parties10 36 15 – 61 
Intersegment and intrasegment revenues45,490 57,122 527 18,882 122,021 
Total segment revenues63,135 76,458 4,303 27,840 171,736 
Significant segment expenses:
Cost of sales56,143 74,437 2,583 24,810 157,973 
Variable operating costs and expenses (1)741 191 59 397 1,388 
Fixed operating costs and expenses (2)1,589 403 595 877 3,464 
Total significant segment expenses58,473 75,031 3,237 26,084 162,825 
Other segment income (expense):
Equity in income of unconsolidated affiliates133 320 462 
Other segment items (3)103 (40)(65)
Total other segment income (expense), net236 280 11 (62)465 
Total segment gross operating margin$4,898 $1,707 $1,077 $1,694 $9,376 
Other financial information:
Capital expenditures$1,366 $119 $793 $988 $3,266 
(1)Variable operating costs and expenses represent the cost of operating our plants, pipelines and other fixed assets that generally fluctuate based on utilization.
(2)Fixed operating costs and expenses represent the cost of operating our plants, pipelines and other fixed assets that generally remain constant independent of utilization.
(3)Other segment items for each segment primarily represent the following:
NGL Pipelines & Services – Non-refundable payments received from shippers attributable to make-up rights, subsequent recognition of revenues attributable to make-up rights, and other miscellaneous segment items.
Crude Oil Pipelines & Services – Subsequent recognition of revenues attributable to make-up rights.
Natural Gas Pipelines & Services – Other miscellaneous segment items.
Petrochemical & Refined Products Services – Other miscellaneous segment items.
The following table reconciles total segment revenues as reported in the preceding tables to consolidated revenues as presented on our Statements of Consolidated Operations:
For the Year Ended December 31,
202520242023
Segment revenues:
NGL Pipelines & Services$84,375 $69,098 $63,135 
Crude Oil Pipelines & Services63,136 75,995 76,458 
Natural Gas Pipelines & Services5,127 3,671 4,303 
Petrochemical & Refined Products Services31,498 36,711 27,840 
Total segment revenues184,136 185,475 171,736 
Elimination of intersegment and intrasegment revenues(131,540)(129,256)(122,021)
Total consolidated revenues$52,596 $56,219 $49,715 
The following table presents our segment assets, together with a reconciliation to our consolidated total assets, at the dates indicated:
December 31,
20252024
NGL Pipelines & Services$24,999 $21,900 
Crude Oil Pipelines & Services11,097 11,390 
Natural Gas Pipelines & Services13,194 12,260 
Petrochemical & Refined Products Services11,725 11,350 
Total segment assets61,015 56,900 
Construction in progress2,400 4,138 
Current assets13,360 15,133 
Other assets1,127 997 
Consolidated total assets$77,902 $77,168 
Schedule of Consolidated Revenues and Costs and Expenses
The following table presents additional information regarding our consolidated revenues and costs and expenses for the years indicated:
For the Year Ended December 31,
202520242023
Consolidated revenues:
NGL Pipelines & Services$17,316 $20,276 $17,645 
Crude Oil Pipelines & Services20,761 21,580 19,336 
Natural Gas Pipelines & Services4,167 3,004 3,776 
Petrochemical & Refined Products Services10,352 11,359 8,958 
Total consolidated revenues$52,596 $56,219 $49,715 
Consolidated costs and expenses
Operating costs and expenses:
Cost of sales$38,566 $42,580 $37,023 
Other operating costs and expenses (1)4,287 4,004 3,695 
Depreciation, amortization and accretion2,551 2,402 2,279 
Asset impairment charges50 57 30 
Net losses (gains) attributable to asset sales and related matters(14)(10)
General and administrative costs251 244 231 
Total consolidated costs and expenses$45,691 $49,289 $43,248 
(1)Represents the cost of operating our plants, pipelines and other fixed assets excluding: depreciation, amortization and accretion; asset impairment charges; and net losses (gains) attributable to asset sales and related matters.