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v3.24.3

Reportable Segments (Tables) | 9 Months Ended
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Sep. 30, 2024
Financial Information By Segment | The following tables present financial information by segment:
| Three Months Ended September 30, |  | Nine Months Ended September 30,
| 2024 |  | 2023 |  | 2024 |  | 2023
Revenues: |  |  |  |  |  |  |
Intrastate transportation and storage: |  |  |  |  |  |  |
Revenues from external customers | $ | 622 |  |  | $ | 880 |  |  | $ | 2,010 |  |  | $ | 2,424 |
Intersegment revenues | 56 |  |  | 93 |  |  | 223 |  |  | 646 |
| 678 |  |  | 973 |  |  | 2,233 |  |  | 3,070 |
Interstate transportation and storage: |  |  |  |  |  |  |
Revenues from external customers | 568 |  |  | 562 |  |  | 1,676 |  |  | 1,720 |
Intersegment revenues | 7 |  |  | 9 |  |  | 20 |  |  | 35 |
| 575 |  |  | 571 |  |  | 1,696 |  |  | 1,755 |
Midstream: |  |  |  |  |  |  |
Revenues from external customers | 1,064 |  |  | 775 |  |  | 2,646 |  |  | 2,370 |
Intersegment revenues | 1,694 |  |  | 2,002 |  |  | 5,393 |  |  | 5,629 |
| 2,758 |  |  | 2,777 |  |  | 8,039 |  |  | 7,999 |
NGL and refined products transportation and services: |  |  |  |  |  |  |
Revenues from external customers | 5,017 |  |  | 4,369 |  |  | 15,598 |  |  | 13,210 |
Intersegment revenues | 836 |  |  | 891 |  |  | 2,576 |  |  | 2,654 |
| 5,853 |  |  | 5,260 |  |  | 18,174 |  |  | 15,864 |
Crude oil transportation and services: |  |  |  |  |  |  |
Revenues from external customers | 7,294 |  |  | 7,289 |  |  | 22,294 |  |  | 19,321 |
Intersegment revenues | 15 |  |  | — |  |  | 25 |  |  | 1 |
| 7,309 |  |  | 7,289 |  |  | 22,319 |  |  | 19,322 |
Investment in Sunoco LP: |  |  |  |  |  |  |
Revenues from external customers | 5,738 |  |  | 6,317 |  |  | 17,406 |  |  | 17,395 |
Intersegment revenues | 13 |  |  | 3 |  |  | 18 |  |  | 32 |
| 5,751 |  |  | 6,320 |  |  | 17,424 |  |  | 17,427 |
Investment in USAC: |  |  |  |  |  |  |
Revenues from external customers | 227 |  |  | 212 |  |  | 680 |  |  | 605 |
Intersegment revenues | 13 |  |  | 5 |  |  | 25 |  |  | 16 |
| 240 |  |  | 217 |  |  | 705 |  |  | 621 |
All other: |  |  |  |  |  |  |
Revenues from external customers | 242 |  |  | 335 |  |  | 820 |  |  | 1,009 |
Intersegment revenues | 137 |  |  | 109 |  |  | 320 |  |  | 378 |
| 379 |  |  | 444 |  |  | 1,140 |  |  | 1,387 |
Eliminations | (2,771) |  |  | (3,112) |  |  | (8,600) |  |  | (9,391) |
Total revenues | $ | 20,772 |  |  | $ | 20,739 |  |  | $ | 63,130 |  |  | $ | 58,054 |
| Three Months Ended September 30, |  | Nine Months Ended September 30,
| 2024 |  | 2023 |  | 2024 |  | 2023
Segment Adjusted EBITDA: |  |  |  |  |  |  |
Intrastate transportation and storage | $ | 329 |  |  | $ | 244 |  |  | $ | 1,095 |  |  | $ | 869 |
Interstate transportation and storage | 460 |  |  | 491 |  |  | 1,335 |  |  | 1,468 |
Midstream | 816 |  |  | 631 |  |  | 2,205 |  |  | 1,851 |
NGL and refined products transportation and services | 1,012 |  |  | 1,076 |  |  | 3,071 |  |  | 2,852 |
Crude oil transportation and services | 768 |  |  | 706 |  |  | 2,417 |  |  | 1,906 |
Investment in Sunoco LP | 456 |  |  | 257 |  |  | 1,018 |  |  | 728 |
Investment in USAC | 146 |  |  | 130 |  |  | 429 |  |  | 373 |
All other | (28) |  |  | 6 |  |  | 29 |  |  | 49 |
Adjusted EBITDA (consolidated) | $ | 3,959 |  |  | $ | 3,541 |  |  | $ | 11,599 |  |  | $ | 10,096 |
| Three Months Ended September 30, |  | Nine Months Ended September 30,
| 2024 |  | 2023 |  | 2024 |  | 2023
Reconciliation of net income to Adjusted EBITDA: |  |  |  |  |  |  |
Net income | $ | 1,434 |  |  | $ | 1,047 |  |  | $ | 5,118 |  |  | $ | 3,727 |
Depreciation, depletion and amortization | 1,324 |  |  | 1,107 |  |  | 3,791 |  |  | 3,227 |
Interest expense, net of interest capitalized | 828 |  |  | 632 |  |  | 2,318 |  |  | 1,892 |
Income tax expense | 89 |  |  | 77 |  |  | 405 |  |  | 256 |
Impairment losses | — |  |  | 1 |  |  | 50 |  |  | 12 |
(Gain) loss on interest rate derivatives | 6 |  |  | (32) |  |  | (6) |  |  | (47) |
Non-cash compensation expense | 37 |  |  | 35 |  |  | 113 |  |  | 99 |
Unrealized (gain) loss on commodity risk management activities | (53) |  |  | 107 |  |  | 50 |  |  | 182 |
Inventory valuation adjustments (Sunoco LP) | 197 |  |  | (141) |  |  | 99 |  |  | (113) |
Loss on extinguishment of debt | — |  |  | — |  |  | 11 |  |  | — |
Adjusted EBITDA related to unconsolidated affiliates | 181 |  |  | 182 |  |  | 522 |  |  | 514 |
Equity in earnings of unconsolidated affiliates | (102) |  |  | (103) |  |  | (285) |  |  | (286) |
Non-operating litigation-related loss | — |  |  | 625 |  |  | — |  |  | 625 |
Gain on sale of West Texas assets (Sunoco LP) | — |  |  | — |  |  | (598) |  |  | — |
Other, net | 18 |  |  | 4 |  |  | 11 |  |  | 8 |
Adjusted EBITDA (consolidated) | $ | 3,959 |  |  | $ | 3,541 |  |  | $ | 11,599 |  |  | $ | 10,096 |

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- Definition Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-25 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-22 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-30 + Details
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