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Consolidated Statements Of Operations - USD ($)
$ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
REVENUES:        
Total revenues $ 20,729 $ 18,320 $ 42,358 $ 37,315
COSTS AND EXPENSES:        
Cost of products sold 15,609 14,092 32,206 28,702
Operating expenses 1,227 1,094 2,365 2,119
Depreciation, depletion and amortization 1,213 1,061 2,467 2,120
Selling, general and administrative 332 228 592 466
Impairment losses 50 10 50 11
Total costs and expenses 18,431 16,485 37,680 33,418
OPERATING INCOME 2,298 1,835 4,678 3,897
OTHER INCOME (EXPENSE):        
Interest expense, net of interest capitalized (762) (641) (1,490) (1,260)
Equity in earnings of unconsolidated affiliates 85 95 183 183
Loss on extinguishment of debt (6) 0 (11) 0
Gain on interest rate derivatives 3 35 12 15
Gain on sale of Sunoco LP West Texas assets 598 0 598 0
Other, net 3 17 30 24
INCOME BEFORE INCOME TAX EXPENSE 2,219 1,341 4,000 2,859
Income tax expense 227 108 316 179
Net income 1,992 1,233 3,684 2,680
Less: Net income attributable to noncontrolling interests 663 308 1,099 629
Less: Net income attributable to redeemable noncontrolling interests 15 14 31 27
NET INCOME ATTRIBUTABLE TO PARTNERS 1,314 911 2,554 2,024
Less: General Partner’s interest in net income 1 1 2 2
Preferred Unitholders’ interest in net income 98 113 227 222
Preferred Stock Redemption Premium 33 0 54 0
Common Unitholders’ interest in net income $ 1,182 $ 797 $ 2,271 $ 1,800
NET INCOME PER COMMON UNIT:        
Basic $ 0.35 $ 0.25 $ 0.67 $ 0.58
Diluted $ 0.35 $ 0.25 $ 0.67 $ 0.57
Refined product sales        
REVENUES:        
Total revenues $ 5,987 $ 5,834 $ 11,500 $ 11,288
NGL sales        
REVENUES:        
Total revenues 4,378 3,489 9,629 7,649
Natural gas sales        
REVENUES:        
Total revenues 460 685 1,315 1,584
Other        
REVENUES:        
Total revenues 327 268 592 495
Crude sales        
REVENUES:        
Total revenues 6,552 5,233 13,396 10,711
Gathering, transportation and other fees        
REVENUES:        
Total revenues $ 3,025 $ 2,811 $ 5,926 $ 5,588