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Operations And Organization | 12 Months Ended
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Dec. 31, 2022
Operations And Organization [Abstract] |
Operations And Organization | OPERATIONS AND BASIS OF PRESENTATION: The consolidated financial statements presented herein contain the results of Energy Transfer LP and its subsidiaries (the “Partnership,” “we,” “us,” “our” or “Energy Transfer”). On April 1, 2021, Energy Transfer, ETO and certain of ETO’s subsidiaries consummated several internal reorganization transactions (the “Rollup Mergers”). In connection with the Rollup Mergers, ETO merged with and into Energy Transfer, with Energy Transfer surviving. The impacts of the Rollup Mergers also included the following: •All of ETO’s long-term debt was assumed by Energy Transfer, as more fully described in Note 6. •Each issued and outstanding ETO preferred unit was converted into the right to receive one newly created Energy Transfer preferred unit. A description of the Energy Transfer Preferred Units is included in Note 8. •Each of ETO’s issued and outstanding Class K, Class L, Class M and Class N units were converted into an aggregate 675,625,000 newly created Class B Units representing limited partner interests in Energy Transfer. All of the Class B Units are held by ETP Holdco, a wholly-owned subsidiary of Energy Transfer. In November 2022, Energy Transfer and Panhandle completed an internal reorganization which resulted in Energy Transfer assuming all of Panhandle’s notes and debentures, as more fully discussed in Note 6. Our financial statements reflect the following reportable segments: •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. The Partnership owns and operates intrastate natural gas pipeline systems and storage facilities that are engaged in the business of purchasing, gathering, transporting, processing and marketing natural gas and NGLs in the states of Texas, Oklahoma and Louisiana. The Partnership owns and operates interstate pipelines, either directly or through equity method investments, that transport natural gas to various markets in the United States. The Partnership is engaged in the gathering and processing, compression, treating and transportation of natural gas, focusing on providing midstream services in some of the most prolific natural gas producing regions in the United States, including the Permian, Anadarko, Arkoma and Hugoton basins, as well as the Eagle Ford, Haynesville, Barnett, Marcellus and Utica shales. The Partnership owns and operates a logistics business, consisting of a geographically diverse portfolio of complementary pipeline, terminalling, and acquisition and marketing assets, which are used to facilitate the purchase and sale of crude oil, NGLs and refined products. The Partnership owns a controlling interest in Sunoco LP which is engaged in the wholesale distribution of motor fuels to convenience stores, independent dealers, commercial customers and distributors, as well as the retail sale of motor fuels and merchandise through Sunoco LP operated convenience stores and retail fuel sites. As of December 31, 2022, our interest in Sunoco LP consisted of 100% of the general partner and IDRs, as well as 28.5 million common units. The Partnership owns a controlling interest in USAC which provides compression services to producers, processors, gatherers and transporters of natural gas and crude oil. As of December 31, 2022, our interest in USAC consisted of 100% of the general partner and 46.1 million common units. Basis of Presentation. The consolidated financial statements of Energy Transfer LP presented herein for the years ended December 31, 2022, 2021 and 2020, have been prepared in accordance with GAAP and pursuant to the rules and regulations of the SEC. We consolidate all majority-owned subsidiaries and limited partnerships, which we control as the general partner or owner of the general partner. All significant intercompany transactions and accounts are eliminated in consolidation. The consolidated financial statements of Energy Transfer presented herein include the results of operations of our controlled subsidiaries, including Sunoco LP and USAC.

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