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Reportable Segments
 6 Months Ended
Jun. 30, 2022
Segment Reporting [Abstract]  
Reportable Segments REPORTABLE SEGMENTS
Our reportable segments, which conduct their business primarily in the United States, are as follows:
•intrastate transportation and storage;
•interstate transportation and storage;
•midstream;
•NGL and refined products transportation and services;
•crude oil transportation and services;
•investment in Sunoco LP;
•investment in USAC; and
•all other.
Consolidated revenues and expenses reflect the elimination of all material intercompany transactions.
Revenues from our intrastate transportation and storage segment are primarily reflected in natural gas sales and gathering, transportation and other fees. Revenues from our interstate transportation and storage segment are primarily reflected in gathering, transportation and other fees. Revenues from our midstream segment are primarily reflected in natural gas sales, NGL sales and gathering, transportation and other fees. Revenues from our NGL and refined products transportation and services segment are primarily reflected in NGL sales and gathering, transportation and other fees. Revenues from our crude oil transportation and services segment are primarily reflected in crude sales. Revenues from our investment in Sunoco LP segment are primarily reflected in refined product sales. Revenues from our investment in USAC segment are primarily reflected in gathering, transportation and other fees. Revenues from our all other segment are primarily reflected in natural gas sales and gathering, transportation and other fees.
We report Segment Adjusted EBITDA and consolidated Adjusted EBITDA as measures of segment performance. We define Segment Adjusted EBITDA and consolidated Adjusted EBITDA as total partnership earnings before interest, taxes, depreciation, depletion, amortization and other non-cash items, such as non-cash compensation expense, gains and losses on disposals of assets, the allowance for equity funds used during construction, unrealized gains and losses on commodity risk management activities, inventory valuation adjustments, non-cash impairment charges, losses on extinguishments of debt and other non-operating income or expense items. Inventory adjustments that are excluded from the calculation of Adjusted EBITDA represent only the changes in lower of cost or market reserves on inventory that is carried at LIFO. These amounts are unrealized valuation adjustments applied to Sunoco LP’s fuel volumes remaining in inventory at the end of the period.
Segment Adjusted EBITDA and consolidated Adjusted EBITDA reflect amounts for unconsolidated affiliates based on the same recognition and measurement methods used to record equity in earnings of unconsolidated affiliates. Adjusted
EBITDA related to unconsolidated affiliates excludes the same items with respect to the unconsolidated affiliate as those excluded from the calculation of Segment Adjusted EBITDA and consolidated Adjusted EBITDA, such as interest, taxes, depreciation, depletion, amortization and other non-cash items. Although these amounts are excluded from Adjusted EBITDA related to unconsolidated affiliates, such exclusion should not be understood to imply that we have control over the operations and resulting revenues and expenses of such affiliates. We do not control our unconsolidated affiliates; therefore, we do not control the earnings or cash flows of such affiliates. The use of Segment Adjusted EBITDA or Adjusted EBITDA related to unconsolidated affiliates as an analytical tool should be limited accordingly.
The following tables present financial information by segment:
Three Months Ended
June 30,		Six Months Ended
June 30,
2022202120222021
Revenues:
Intrastate transportation and storage:
Revenues from external customers
$1,994 $852 $3,469 $4,828 
Intersegment revenues
209 97 366 1,021 
2,203 949 3,835 5,849 
Interstate transportation and storage:
Revenues from external customers
511 404 1,058 905 
Intersegment revenues
19 3 38 27 
530 407 1,096 932 
Midstream:
Revenues from external customers
1,153 571 2,284 1,149 
Intersegment revenues
3,897 1,628 6,691 3,722 
5,050 2,199 8,975 4,871 
NGL and refined products transportation and services:
Revenues from external customers
6,230 3,830 11,475 7,227 
Intersegment revenues
1,327 692 2,359 1,285 
7,557 4,522 13,834 8,512 
Crude oil transportation and services:
Revenues from external customers
7,299 4,420 13,225 7,920 
Intersegment revenues
1 — 1 — 
7,300 4,420 13,226 7,920 
Investment in Sunoco LP:
Revenues from external customers
7,793 4,385 13,190 7,854 
Intersegment revenues
22 7 27 9 
7,815 4,392 13,217 7,863 
Investment in USAC:
Revenues from external customers
168 153 327 308 
Intersegment revenues
4 3 8 6 
172 156 335 314 
All other:
Revenues from external customers
797 486 1,408 1,905 
Intersegment revenues
165 90 269 183 
962 576 1,677 2,088 
Eliminations
(5,644)(2,520)(9,759)(6,253)
Total revenues
$25,945 $15,101 $46,436 $32,096 
Three Months Ended
June 30,		Six Months Ended
June 30,
2022202120222021
Segment Adjusted EBITDA:
Intrastate transportation and storage
$218 $224 $662 $3,037 
Interstate transportation and storage
397 331 850 784 
Midstream
903 477 1,710 765 
NGL and refined products transportation and services
763 736 1,463 1,383 
Crude oil transportation and services
562 484 1,155 994 
Investment in Sunoco LP
214 201 405 358 
Investment in USAC
106 100 204 200 
All other
65 63 119 135 
Adjusted EBITDA (consolidated)
3,228 2,616 6,568 7,656 
Depreciation, depletion and amortization
(1,046)(940)(2,074)(1,894)
Interest expense, net of interest capitalized
(578)(566)(1,137)(1,155)
Impairment losses— (8)(300)(11)
Gains (losses) on interest rate derivatives129 (123)243 71 
Non-cash compensation expense
(25)(27)(61)(55)
Unrealized gains on commodity risk management activities99 47 54 93 
Inventory valuation adjustments (Sunoco LP)1 59 121 159 
Losses on extinguishments of debt
— (1)— (8)
Adjusted EBITDA related to unconsolidated affiliates
(137)(136)(262)(259)
Equity in earnings of unconsolidated affiliates62 65 118 120 
Other, net
(25)4 (84)(11)
Income before income tax expense1,708 990 3,186 4,706 
Income tax expense(86)(82)(77)(157)
Net income$1,622 $908 $3,109 $4,549