Reportable Segments (Tables)

9 Months Ended

Sep. 30, 2023

The following tables present financial information by segment:


	Three Months Ended September 30,				Nine Months Ended September 30,
	2023		2022		2023		2022
Revenues:
Intrastate transportation and storage:
Revenues from external customers	$	880	$	2,081	$	2,424	$	5,550
Intersegment revenues	93		302		646		668
	973		2,383		3,070		6,218
Interstate transportation and storage:
Revenues from external customers	562		533		1,720		1,591
Intersegment revenues	9		16		35		54
	571		549		1,755		1,645
Midstream:
Revenues from external customers	775		1,115		2,370		3,399
Intersegment revenues	2,002		3,756		5,629		10,447
	2,777		4,871		7,999		13,846
NGL and refined products transportation and services:
Revenues from external customers	4,369		5,169		13,210		16,644
Intersegment revenues	891		906		2,654		3,265
	5,260		6,075		15,864		19,909
Crude oil transportation and services:
Revenues from external customers	7,289		6,415		19,321		19,640
Intersegment revenues	—		1		1		2
	7,289		6,416		19,322		19,642
Investment in Sunoco LP:
Revenues from external customers	6,317		6,577		17,395		19,767
Intersegment revenues	3		17		32		44
	6,320		6,594		17,427		19,811
Investment in USAC:
Revenues from external customers	212		176		605		503
Intersegment revenues	5		3		16		11
	217		179		621		514
All other:
Revenues from external customers	335		873		1,009		2,281
Intersegment revenues	109		211		378		480
	444		1,084		1,387		2,761
Eliminations	(3,112)		(5,212)		(9,391)		(14,971)
Total revenues	$	20,739	$	22,939	$	58,054	$	69,375


	Three Months Ended September 30,				Nine Months Ended September 30,
	2023		2022		2023		2022
Segment Adjusted EBITDA:
Intrastate transportation and storage	$	244	$	301	$	869	$	963
Interstate transportation and storage	491		409		1,468		1,259
Midstream	631		868		1,851		2,578
NGL and refined products transportation and services	1,076		634		2,852		2,097
Crude oil transportation and services	706		461		1,906		1,616
Investment in Sunoco LP	257		276		728		681
Investment in USAC	130		109		373		313
All other	6		30		49		149
Adjusted EBITDA (consolidated)	$	3,541	$	3,088	$	10,096	$	9,656


	Three Months Ended September 30,				Nine Months Ended September 30,
	2023		2022		2023		2022
Reconciliation of net income to Adjusted EBITDA:
Net income	$	1,047	$	1,322	$	3,727	$	4,431
Depreciation, depletion and amortization	1,107		1,030		3,227		3,104
Interest expense, net of interest capitalized	632		577		1,892		1,714
Income tax expense	77		82		256		159
Impairment losses and other	1		86		12		386
Gains on interest rate derivatives	(32)		(60)		(47)		(303)
Non-cash compensation expense	35		27		99		88
Unrealized (gains) losses on commodity risk management activities	107		(76)		182		(130)
Inventory valuation adjustments (Sunoco LP)	(141)		40		(113)		(81)

Adjusted EBITDA related to unconsolidated affiliates	182		147		514		409
Equity in earnings of unconsolidated affiliates	(103)		(68)		(286)		(186)
Non-operating litigation-related loss	625		—		625		—
Other, net	4		(19)		8		65
Adjusted EBITDA (consolidated)	$	3,541	$	3,088	$	10,096	$	9,656