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Equity
 9 Months Ended
Sep. 30, 2024
Equity [Abstract]  
Equity EQUITY
Energy Transfer Common Units
Changes in Energy Transfer common units during the nine months ended September 30, 2024 were as follows:
Number of Units
Number of common units at December 31, 20233,367.5 
Common units issued under the distribution reinvestment plan4.3 
Common units vested under equity incentive plans and other1.1 
Common units issued in connection with acquisition of WTG Midstream50.8 
Number of common units at September 30, 20243,423.7 
Energy Transfer Repurchase Program
During the nine months ended September 30, 2024, Energy Transfer did not repurchase any of its common units under its current buyback program. As of September 30, 2024, $880 million remained available to repurchase under the current program.
Energy Transfer Distribution Reinvestment Program
During the nine months ended September 30, 2024, distributions of $66 million were reinvested under the distribution reinvestment program. As of September 30, 2024, a total of 40 million Energy Transfer common units remained available to be issued under currently effective registration statements in connection with the distribution reinvestment program.
Cash Distributions on Energy Transfer Common Units
Distributions declared and/or paid with respect to Energy Transfer common units subsequent to December 31, 2023 were as follows:
Quarter EndedRecord DatePayment DateRate
December 31, 2023February 7, 2024February 20, 2024$0.3150 
March 31, 2024May 13, 2024May 20, 20240.3175 
June 30, 2024August 9, 2024August 19, 20240.3200 
September 30, 2024November 8, 2024November 19, 20240.3225 
Energy Transfer Preferred Units
As of September 30, 2024, Energy Transfer’s outstanding preferred units included 550,000 Series B Preferred Units, 500,000 Series F Preferred Units, 1,484,780 Series G Preferred Units, 900,000 Series H Preferred Units and 41,464,179 Series I Preferred Units. In addition, as of December 31, 2023, Energy Transfer’s outstanding preferred units also included the Series A Preferred Units, Series C Preferred Units, Series D Preferred Units and Series E Preferred Units, all of which were redeemed in 2024.
The following table summarizes changes in the Energy Transfer Preferred Units:
Preferred Unitholders
Series ASeries BSeries CSeries DSeries E Series FSeries GSeries HSeries ITotal
Balance, December 31, 2023$948 $556 $438 $435 $786 $496 $1,488 $893 $419 $6,459 
Distributions to partners(24)(18)(11)(11)(15)— — — (9)(88)
Redemption of preferred units— — (450)(445)— — — — — (895)
Other, net— — 11 10 — — — — — 21 
Net income23 9 12 11 15 8 27 15 9 129 
Balance, March 31, 2024947 547 — — 786 504 1,515 908 419 5,626 
Distributions to partners(32)— — — (15)(17)(53)(29)(9)(155)
Redemption of preferred units(950)— — — (800)— — — — (1,750)
Other, net13 — — — 20 — — — — 33 
Net income22 9 — — 9 9 26 14 9 98 
Balance, June 30, 2024— 556 — — — 496 1,488 893 419 3,852 
Distributions to partners— (18)— — — — — — (9)(27)
Net income— 9 — — — 8 26 15 9 67 
Balance, September 30, 2024$— $547 $— $— $— $504 $1,514 $908 $419 $3,892 
Preferred Unitholders
Series ASeries BSeries CSeries DSeries E Series FSeries GSeries HTotal
Balance, December 31, 2022$958 $556 $440 $434 $786 $496 $1,488 $893 $6,051 
Distributions to partners(30)(18)(8)(9)(15)— — — (80)
Net income18 9 8 9 15 8 27 15 109 
Balance, March 31, 2023946 547 440 434 786 504 1,515 908 6,080 
Distributions to partners(21)— (8)(9)(15)(16)(53)(29)(151)
Net income22 9 9 9 15 8 26 15 113 
Balance, June 30, 2023947 556 441 434 786 496 1,488 894 6,042 
Distributions to partners(22)(20)(12)(8)(15)— — — (77)
Net income23 10 11 10 15 8 27 14 118 
Balance, September 30, 2023$948 $546 $440 $436 $786 $504 $1,515 $908 $6,083 
Cash Distributions on Energy Transfer Preferred Units
Distributions declared on the Energy Transfer Preferred Units were as follows:
Period EndedRecord DatePayment DateSeries A
Series B (1)
Series C Series DSeries E
Series F (1)
Series G (1)
Series H (1)
Series I (2)
December 31, 2023February 1, 2024February 15, 2024$24.710 $33.125 $0.6075 $0.6199 $0.475 $— $— $— $0.2111 
March 31, 2024May 1, 2024May 15, 202423.992 — — — 0.475 33.750 35.630 32.500 0.2111 
June 30, 2024August 1, 2024August 15, 20249.879 33.125 — — — — — — 0.2111 
September 30, 2024November 1, 2024November 15, 2024— — — — — 33.750 35.630 32.500 0.2111 
(1)Series B, Series F, Series G and Series H distributions are currently paid on a semi-annual basis. Distributions on the Series B Preferred Units will begin to be paid quarterly on February 15, 2028.
(2)For the period ended September 30, 2024, the cash distribution for the Series I Preferred Units will be paid on November 14, 2024 to unitholders of record as of the close of business on November 4, 2024. For the period ended June 30, 2024, the cash distribution for the Series I Preferred Units was paid on August 14, 2024 to unitholders of record as of the close of business on August 2, 2024.
Noncontrolling Interests
The Partnership’s consolidated financial statements also include noncontrolling interests in Sunoco LP and USAC, both of which are master limited partnerships, as well as other non-wholly owned consolidated joint ventures. The following sections describe cash distributions made by our publicly traded subsidiaries, Sunoco LP and USAC, both of which are required by their respective partnership agreements to distribute all cash on hand (less appropriate reserves determined by the boards of directors of their respective general partners) subsequent to the end of each quarter.
Sunoco LP Cash Distributions
Distributions on Sunoco LP’s common units declared and/or paid by Sunoco LP subsequent to December 31, 2023 were as follows:
Quarter EndedRecord DatePayment DateRate
December 31, 2023February 7, 2024February 20, 2024$0.8420 
March 31, 2024May 13, 2024May 20, 20240.8756 
June 30, 2024August 9, 2024August 19, 20240.8756 
September 30, 2024November 8, 2024November 19, 20240.8756 
USAC Cash Distributions
Distributions on USAC’s common units declared and/or paid by USAC subsequent to December 31, 2023 were as follows:
Quarter EndedRecord DatePayment DateRate
December 31, 2023January 22, 2024February 2, 2024$0.525 
March 31, 2024April 22, 2024May 3, 20240.525 
June 30, 2024July 22, 2024August 2, 20240.525 
September 30, 2024October 21, 2024November 1, 20240.525 
Accumulated Other Comprehensive Income
The following table presents the components of AOCI, net of tax:
September 30,
2024		December 31,
2023
Available-for-sale securities$20 $13 
Foreign currency translation adjustment(11)(5)
Actuarial gains related to pensions and other postretirement benefits22 6 
Investments in unconsolidated affiliates, net11 14 
Total AOCI included in partners’ capital, net of tax$42 $28