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Inventories (Notes)
6 Months Ended
Jun. 30, 2022
Inventory, Net [Abstract]  
Inventories INVENTORIES
Inventories consisted of the following:
June 30,
2022
December 31,
2021
Natural gas, NGLs and refined products
$1,614 $1,259 
Crude oil167 328 
Spare parts and other435 427 
Total inventories$2,216 $2,014 
Sunoco LP’s fuel inventories are stated at the lower of cost or market using the last-in, first-out (“LIFO”) method. As of June 30, 2022 and December 31, 2021, the carrying value of Sunoco LP’s fuel inventory included lower of cost or market reserves of zero and $121 million, respectively. The fuel inventory replacement cost was $253 million higher than the fuel inventory balance as of June 30, 2022. For the three and six months ended June 30, 2022 and 2021, the Partnership’s consolidated income statements did not include any material amounts of income from the liquidation of Sunoco LP’s LIFO fuel inventory. For the three months ended June 30, 2022 and June 30, 2021, the Partnership’s cost of products sold included favorable inventory adjustments of $1 million and $59 million, respectively, related to Sunoco LP’s LIFO inventory. For the six months ended June 30, 2022 and 2021, the Partnership’s cost of products sold included favorable inventory adjustments of $121 million and $159 million, respectively, related to Sunoco LP’s LIFO inventory.