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Estimates, Significant Accounting Policies and Balance Sheet Detail (Tables)
12 Months Ended
Dec. 31, 2023
Accounting Policies [Abstract]  
Schedule Of Net Changes In Operating Assets And Liabilities Included Cash Flows From Operating Activities
The net change in operating assets and liabilities, net of effects of acquisitions, included in cash flows from operating activities is comprised as follows:
 Years Ended December 31,
 202320222021
Accounts receivable$(171)$(863)$(3,356)
Accounts receivable from related companies(5)23 38 
Inventories35 (361)(19)
Other current assets221 (326)(216)
Other non-current assets, net(125)146 
Accounts payable(501)25 3,834 
Accounts payable to related companies(38)(34)
Accrued and other current liabilities209 131 238 
Other non-current liabilities(33)66 117 
Derivative assets and liabilities, net(43)(349)(88)
Net change in operating assets and liabilities, net of effects of acquisitions$(451)$(1,502)$515 
Schedule Of Non-Cash Investing And Financing Activities
Non-cash investing and financing activities and supplemental cash flow information are as follows:
 Years Ended December 31,
 202320222021
NON-CASH INVESTING AND FINANCING ACTIVITIES:
Accrued capital expenditures$442 $575 $464 
Units issued in connection with the Enable acquisition (1)
— — 3,509 
Units issued in connection with the Crestwood acquisition (1)
3,366 — — 
Units issued in connection with the Lotus Midstream acquisition (1)
574 — — 
Lease assets obtained in exchange for new lease liabilities23 42 18 
Acquisition of interest in unconsolidated affiliate— — 49 
SUPPLEMENTAL CASH FLOW INFORMATION:
Cash paid for interest, net of interest capitalized$2,298 $2,167 $2,188 
Cash paid for income taxes (net of refunds)103 54 41 
(1)See Note 3 for additional information.
Schedule of Inventory
The Partnership’s inventories consisted of the following:
 December 31,
 20232022
Natural gas, NGLs and refined products$1,658 $1,802 
Crude oil258 246 
Spare parts and other562 413 
Total inventories$2,478 $2,461 
Other Current Assets
Other current assets consisted of the following:
 December 31,
 20232022
Deposits paid to vendors$205 $334 
Prepaid expenses and other308 392 
Total other current assets$513 $726 
Property, Plant and Equipment
Components and useful lives of property, plant and equipment were as follows:
 December 31,
 20232022
Land and improvements$1,529 $1,427 
Buildings and improvements (1 to 45 years)3,848 3,546 
Pipelines and equipment (5 to 83 years)88,195 82,353 
Product storage and related facilities (2 to 83 years)7,978 7,274 
Right of way (20 to 83 years)7,379 6,252 
Other (1 to 48 years)3,688 2,739 
Construction work-in-process
2,315 2,405 
114,932 105,996 
Less – Accumulated depreciation and depletion(29,581)(25,685)
Property, plant and equipment, net$85,351 $80,311 
Schedule Of Property, Plant And Equipment Depreciation And Capitalized Interest Expense
We recognized the following amounts for the periods presented:
 Years Ended December 31,
 202320222021
Depreciation, depletion and amortization expense$3,986 $3,774 $3,465 
Capitalized interest77 112 135 
Schedule of Other Non-Current Assets, net
Other non-current assets, net are stated at cost less accumulated amortization. Other non-current assets, net consisted of the following:
December 31,
20232022
Crude pipeline linefill and tank bottoms$598 $489 
Regulatory assets48 55 
Pension assets145 129 
Deferred charges148 140 
Restricted funds121 121 
Other673 624 
Total other non-current assets, net$1,733 $1,558 
Restricted funds include an immaterial amount of restricted cash primarily held in our wholly owned captive insurance companies.
Components And Useful Lives Of Intangibles And Other Assets
Components and useful lives of intangible assets were as follows: 
 December 31, 2023December 31, 2022
Gross Carrying
Amount
Accumulated
Amortization
Gross Carrying
Amount
Accumulated
Amortization
Amortizable intangible assets:
Customer relationships, contracts and agreements (3 to 46 years)$9,098 $(3,196)$7,884 $(2,807)
Patents (10 years)48 (48)48 (48)
Trade names (20 years)66 (44)66 (41)
Other (5 to 20 years)12 (11)12 (13)
Total amortizable intangible assets9,224 (3,299)8,010 (2,909)
Non-amortizable intangible assets:
Trademarks302 — 302 — 
Other12 — 12 — 
Total non-amortizable intangible assets314 — 314 — 
Total intangible assets$9,538 $(3,299)$8,324 $(2,909)
Aggregate Amortization Expense Of Intangibles And Other Assets
Aggregate amortization expense of intangible assets was as follows:
Years Ended December 31,
202320222021
Reported in depreciation, depletion and amortization expense$399 $390 $352 
Estimated Aggregate Amortization Expense
Estimated aggregate amortization of intangible assets for the next five years is as follows:
Years Ending December 31: 
2024$434 
2025423 
2026417 
2027400 
2028397 
Schedule of Goodwill
Changes in the carrying amount of goodwill were as follows:
Intrastate
Transportation
and Storage
Interstate
Transportation and Storage
MidstreamNGL and Refined Products Transportation and ServicesCrude Oil Transportation and ServicesInvestment in Sunoco LPInvestment in USACAll OtherTotal
Balance, December 31, 2021$— $— $— $693 $190 $1,568 $— $82 $2,533 
Acquired
— — — — — 33 — — 33 
Balance, December 31, 2022— — — 693 190 1,601 — 82 2,566 
Acquired— — 601 191 663 — — — 1,455 
Other— — — — — (2)— — (2)
Balance, December 31, 2023$— $— $601 $884 $853 $1,599 $— $82 $4,019 
Accrued and Other Current Liabilities
Accrued and other current liabilities consisted of the following:
 December 31,
 20232022
Interest payable$637 $559 
Customer advances and deposits240 222 
Accrued capital expenditures442 575 
Accrued wages and benefits406 376 
Taxes payable other than income taxes646 519 
Exchanges payable163 224 
Deferred revenue312 268 
Other675 586 
Total accrued and other current liabilities$3,521 $3,329 
Schedule of Derivative Assets at Fair Value
The following tables summarize the fair value of our financial assets and liabilities measured and recorded at fair value on a recurring basis as of December 31, 2023 and 2022 based on inputs used to derive their fair values:
Fair Value TotalFair Value Measurements at December 31, 2023
Level 1Level 2
Assets:
Interest rate derivatives$$— $
Commodity derivatives:
Natural Gas:
Basis Swaps FERC/NYMEX24 24 — 
Swing Swaps IFERC20 20 — 
Fixed Swaps/Futures77 77 — 
Forward Physical Contracts— 
Power:
Forwards57 57 — 
Futures— 
NGLs – Forwards/Swaps336 336 — 
Refined Products – Futures35 35 — 
Crude – Forwards/Swaps45 45 — 
Total commodity derivatives610 602 
Other non-current assets31 20 11 
Total assets$647 $622 $25 
Liabilities:
Interest rate derivatives$(4)$— $(4)
Commodity derivatives:
Natural Gas:
Basis Swaps IFERC/NYMEX(3)(3)— 
Swing Swaps IFERC(2)(2)— 
Fixed Swaps/Futures(16)(16)— 
Options – Puts(2)(2)— 
Power:
Forwards(56)(56)— 
Futures(8)(8)— 
NGL/Refined Products Option - Puts(1)(1)— 
NGL/Refined Products Option - Calls(1)(1)— 
NGLs – Forwards/Swaps(316)(316)— 
Refined Products – Futures(18)(18)— 
Crude – Forwards/Swaps(37)(37)— 
Total commodity derivatives(460)(460)— 
Total liabilities$(464)$(460)$(4)
Fair Value TotalFair Value Measurements at December 31, 2022
Level 1Level 2
Assets:
Interest rate derivatives$— $— $— 
Commodity derivatives:
Natural Gas:
Basis Swaps IFERC/NYMEX60 60 — 
Swing Swaps IFERC75 75 — 
Fixed Swaps/Futures113 113 — 
Forward Physical Contracts10 — 10 
Power:
Forwards52 — 52 
Futures— 
NGLs – Forwards/Swaps317 317 — 
Refined Products – Futures20 20 — 
Crude - Forwards/Swaps38 38 — 
Total commodity derivatives688 626 62 
Other non-current assets27 18 
Total assets$715 $644 $71 
Liabilities:
Interest rate derivatives$(23)$— $(23)
Commodity derivatives:
Natural Gas:
Basis Swaps IFERC/NYMEX(25)(25)
Swing Swaps IFERC(12)(12)— 
Fixed Swaps/Futures(4)(4)— 
Forward Physical Contracts(2)— (2)
Power:
Forwards(51)(51)
Futures(3)(3)— 
NGLs – Forwards/Swaps(358)(358)— 
Refined Products – Futures(59)(59)— 
Crude - Forwards/Swaps(12)(12)— 
Total commodity derivatives(526)(473)(53)
Total liabilities$(549)$(473)$(76)