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v3.22.2.2

Inventories (Notes) | 9 Months Ended
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Sep. 30, 2022
Inventory, Net [Abstract] |
Inventories | INVENTORIES Inventories consisted of the following:
| September 30, 2022 |  | December 31, 2021
Natural gas, NGLs and refined products | $ | 1,910 |  |  | $ | 1,259 |
Crude oil | 166 |  |  | 328 |
Spare parts and other | 414 |  |  | 427 |
Total inventories | $ | 2,490 |  |  | $ | 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 September 30, 2022 and December 31, 2021, the carrying value of Sunoco LP’s fuel inventory included lower of cost or market reserves of $40 million and $121 million, respectively. The fuel inventory replacement cost was $6 million higher than the fuel inventory balance as of September 30, 2022. For the three and nine months ended September 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 September 30, 2022 and September 30, 2021, the Partnership’s cost of products sold included unfavorable and favorable inventory adjustments of $40 million and $9 million, respectively, related to Sunoco LP’s LIFO inventory. For the nine months ended September 30, 2022 and 2021, the Partnership’s cost of products sold included favorable inventory adjustments of $81 million and $168 million, respectively, related to Sunoco LP’s LIFO inventory.

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- Definition The entire disclosure for inventory. Includes, but is not limited to, the basis of stating inventory, the method of determining inventory cost, the classes of inventory, and the nature of the cost elements included in inventory. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 330 -URI https://asc.fasb.org/topic&trid=2126998 + Details
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