XML 35 R22.htm IDEA: XBRL DOCUMENT

Inventories Inventories (Policies)	9 Months Ended
Inventories Inventories (Policies)	Sep. 30, 2022
Inventory Disclosure [Abstract]
Inventory, Policy [Policy Text Block]	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.

Disclosure of inventory accounting policy for inventory classes, including, but not limited to, basis for determining inventory amounts, methods by which amounts are added and removed from inventory classes, loss recognition on impairment of inventories, and situations in which inventories are stated above cost.

+ References + Details