Reportable Segments (Tables)

6 Months Ended

Jun. 30, 2023

The following tables present financial information by segment:


	Three Months Ended June 30,				Six Months Ended June 30,
	2023		2022		2023		2022
Revenues:
Intrastate transportation and storage:
Revenues from external customers	$	730	$	1,994	$	1,544	$	3,469
Intersegment revenues	77		209		553		366
	807		2,203		2,097		3,835
Interstate transportation and storage:
Revenues from external customers	536		511		1,158		1,058
Intersegment revenues	14		19		26		38
	550		530		1,184		1,096
Midstream:
Revenues from external customers	786		1,153		1,595		2,284
Intersegment revenues	1,682		3,897		3,627		6,691
	2,468		5,050		5,222		8,975
NGL and refined products transportation and services:
Revenues from external customers	4,104		6,230		8,841		11,475
Intersegment revenues	897		1,327		1,763		2,359
	5,001		7,557		10,604		13,834
Crude oil transportation and services:
Revenues from external customers	5,953		7,299		12,032		13,225
Intersegment revenues	—		1		1		1
	5,953		7,300		12,033		13,226
Investment in Sunoco LP:
Revenues from external customers	5,729		7,793		11,078		13,190
Intersegment revenues	16		22		29		27
	5,745		7,815		11,107		13,217
Investment in USAC:
Revenues from external customers	201		168		393		327
Intersegment revenues	6		4		11		8
	207		172		404		335
All other:
Revenues from external customers	281		797		674		1,408
Intersegment revenues	118		165		269		269
	399		962		943		1,677
Eliminations	(2,810)		(5,644)		(6,279)		(9,759)
Total revenues	$	18,320	$	25,945	$	37,315	$	46,436


	Three Months Ended June 30,				Six Months Ended June 30,
	2023		2022		2023		2022
Segment Adjusted EBITDA:
Intrastate transportation and storage	$	216	$	218	$	625	$	662
Interstate transportation and storage	441		397		977		850
Midstream	579		903		1,220		1,710
NGL and refined products transportation and services	837		763		1,776		1,463
Crude oil transportation and services	674		562		1,200		1,155
Investment in Sunoco LP	250		214		471		405
Investment in USAC	125		106		243		204
All other	—		65		43		119
Adjusted EBITDA (consolidated)	$	3,122	$	3,228	$	6,555	$	6,568


	Three Months Ended June 30,				Six Months Ended June 30,
	2023		2022		2023		2022
Reconciliation of net income to Adjusted EBITDA:
Net income	$	1,233	$	1,622	$	2,680	$	3,109
Depreciation, depletion and amortization	1,061		1,046		2,120		2,074
Interest expense, net of interest capitalized	641		578		1,260		1,137
Income tax expense	108		86		179		77
Impairment losses	10		—		11		300
Gains on interest rate derivatives	(35)		(129)		(15)		(243)
Non-cash compensation expense	27		25		64		61
Unrealized (gains) losses on commodity risk management activities	(55)		(99)		75		(54)
Inventory valuation adjustments (Sunoco LP)	57		(1)		28		(121)

Adjusted EBITDA related to unconsolidated affiliates	171		137		332		262
Equity in earnings of unconsolidated affiliates	(95)		(62)		(183)		(118)

Other, net	(1)		25		4		84
Adjusted EBITDA (consolidated)	$	3,122	$	3,228	$	6,555	$	6,568