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Goodwill (Notes) | 12 Months Ended
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Dec. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract] |
Goodwill | 7. Goodwill Changes in the amounts of our goodwill for each of the years ended December 31, 2024 and 2023 are summarized by segment as follows:
| Natural Gas Pipelines |  | Products Pipelines |  | Terminals |  | CO 2 |  | Total |
| (In millions) |
Gross goodwill | $ | 20,832 |  |  | $ | 2,796 |  |  | $ | 1,481 |  |  | $ | 1,642 |  |  | $ | 26,751 |  |
Accumulated impairment losses | (4,240) |  |  | (1,267) |  |  | (679) |  |  | (600) |  |  | (6,786) |  |
December 31, 2022 | 16,592 |  |  | 1,529 |  |  | 802 |  |  | 1,042 |  |  | 19,965 |  |
Acquisition of STX Midstream | 156 |  |  | — |  |  | — |  |  | — |  |  | 156 |  |
December 31, 2023 | 16,748 |  |  | 1,529 |  |  | 802 |  |  | 1,042 |  |  | 20,121 |  |
Acquisition(a) | (28) |  |  | — |  |  | — |  |  | — |  |  | (28) |  |
Divestitures(b) | — |  |  | — |  |  | — |  |  | (9) |  |  | (9) |  |
December 31, 2024 | 16,720 |  |  | 1,529 |  |  | 802 |  |  | 1,033 |  |  | 20,084 |  |
Gross goodwill | 20,960 |  |  | 2,796 |  |  | 1,481 |  |  | 1,633 |  |  | 26,870 |  |
Accumulated impairment losses | (4,240) |  |  | (1,267) |  |  | (679) |  |  | (600) |  |  | (6,786) |  |
December 31, 2024 | $ | 16,720 |  |  | $ | 1,529 |  |  | $ | 802 |  |  | $ | 1,033 |  |  | $ | 20,084 |  |
(a)Reflects adjustment to purchase price allocation related to the December 2023 STX Midstream acquisition. (b)Associated with our CO 2 business segment assets that were divested in June 2024. Results of our May 31, 2024 annual impairment test indicated that for each of our reporting units, the reporting unit’s fair value exceeded carrying value (by at least 10%). We did not identify any triggers requiring further impairment analysis during the remainder of the year. The fair value estimates used in our goodwill impairment test include Level 3 inputs of the fair value hierarchy. For all reporting units other than the Energy Transition Ventures reporting unit within our CO 2 business segment, we estimated fair value based on a market approach utilizing forecasted earnings before interest, income taxes, DD&A expenses, including amortization of excess cost of equity investments, (EBITDA) and the enterprise value to estimated EBITDA multiples of comparable companies for each of our reporting units. The value of each reporting unit was determined from the perspective of a market participant in an orderly transaction between market participants at the measurement date. For the Energy Transition Ventures reporting unit, which had a goodwill balance of $114 million as of December 31, 2024, we estimated fair value based on an income approach, which includes assumptions regarding future cash flows based primarily on production growth assumptions, terminal values and discount rates. Changes to any one or a combination of these factors would result in a change to the reporting unit fair values, which could lead to future impairment charges. Such potential non-cash impairments could have a significant effect on our results of operations.

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