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Consolidated Balance Sheets - USD ($)
$ in Millions
Dec. 31, 2024
Dec. 31, 2023
ASSETS    
Cash and cash equivalents $ 312 $ 161
Inventories 3,070 2,478
Income taxes receivable 56 67
Derivative assets 9 66
Other current assets 477 513
Total current assets 14,202 12,433
Property, plant and equipment 129,242 114,932 [1]
Accumulated depreciation and depletion (34,030) (29,581) [1]
Property, Plant and Equipment, Net 95,212 85,351 [1]
Investments in unconsolidated affiliates [2] 3,266 3,097
Lease right-of-use assets, net 809 826
Other non-current assets, net 2,017 1,733
Intangible assets, net 5,971 6,239
Goodwill 3,903 4,019
Total assets 125,380 113,698
LIABILITIES AND EQUITY    
Derivative liabilities 15 8
Operating lease current liabilities 67 56
Accrued and other current liabilities 4,241 3,521
Current maturities of long-term debt 8 1,008
Total current liabilities 12,656 11,277
Long-term debt, less current maturities 59,752 51,380
Non-current derivative liabilities 0 4
Non-current operating lease liabilities 730 778
Deferred income taxes 4,190 3,931
Other non-current liabilities 1,618 1,611
Commitments and contingencies
Redeemable noncontrolling interests 417 778
Limited Partners:    
Preferred Unitholders (44,898,959 and 113,648,967 units authorized, issued and outstanding as of December 31, 2024 and 2023, respectively) 3,852 6,459
Common Unitholders (3,431,088,022 and 3,367,525,806 units authorized, issued and outstanding as of December 31, 2024 and 2023, respectively) 31,195 30,197
General Partner (2) (2)
Accumulated other comprehensive income 73 28
Total partners’ capital 35,118 36,682
Noncontrolling interests 10,899 7,257
Total equity 46,017 43,939
Total liabilities and equity 125,380 113,698
Related Party    
ASSETS    
Accounts receivable from related companies 87 101
LIABILITIES AND EQUITY    
Accounts payable 19 21
Nonrelated Party    
ASSETS    
Accounts receivable, net 10,191 9,047
LIABILITIES AND EQUITY    
Accounts payable $ 8,306 $ 6,663
[1] Certain components of property, plant and equipment were reclassified in the current year. The balances as of December 31, 2023 reflected above have been adjusted to conform to the current year presentation. These changes did not impact total property, plant and equipment.
[2] Amounts reflected above exclude Sunoco LP’s investments in the ET-S Permian and J.C. Nolan joint ventures, which are eliminated in consolidation.