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Consolidated Statements Of Operations - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
REVENUES:      
Total revenues $ 78,586 $ 89,876 $ 67,417
COSTS AND EXPENSES:      
Cost of products sold 60,541 72,232 50,395
Operating expenses 4,368 4,338 3,574
Depreciation, depletion and amortization 4,385 4,164 3,817
Selling, general and administrative 985 1,018 818
Impairment losses and other 12 386 21
Total costs and expenses 70,291 82,138 58,625
OPERATING INCOME 8,295 7,738 8,792
OTHER INCOME (EXPENSE):      
Interest expense, net of interest capitalized (2,578) (2,306) (2,267)
Equity in earnings of unconsolidated affiliates 383 257 246
Gains (losses) on extinguishments of debt 2 0 (38)
Gain (Loss) on Interest Rate Derivative Instruments Not Designated as Hedging Instruments 36 293 61
Gain (Loss) Related to Litigation Settlement (627) 0 0
Other, net 86 90 77
Income before income tax expense 5,597 6,072 6,871
Income tax expense 303 204 184
NET INCOME 5,294 5,868 6,687
Less: Net income attributable to noncontrolling interests 1,299 1,061 1,167
Less: Net income attributable to redeemable noncontrolling interests 60 51 50
NET INCOME ATTRIBUTABLE TO PARTNERS 3,935 4,756 5,470
General Partner’s interest in net income 3 4 6
Preferred Unitholders’ interest in net income 463 422 285
Limited Partners’ interest in net income $ 3,469 $ 4,330 $ 5,179
NET INCOME PER COMMON UNIT:      
Basic $ 1.10 $ 1.40 $ 1.89
Diluted $ 1.09 $ 1.40 $ 1.89
Refined product sales      
REVENUES:      
REVENUES: $ 23,389 $ 26,020 $ 17,766
Crude sales      
REVENUES:      
REVENUES: 23,492 23,473 15,299
Natural gas sales      
REVENUES:      
REVENUES: 3,259 8,535 9,159
Gathering, transportation and other fees      
REVENUES:      
REVENUES: 11,428 10,907 9,229
NGL sales      
REVENUES:      
REVENUES: 15,957 20,114 15,243
Other      
REVENUES:      
REVENUES: $ 1,061 $ 827 $ 721