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Equity (Tables)
12 Months Ended
Dec. 31, 2024
Change In ETE Common Units
The change in Energy Transfer Common Units during the years ended December 31, 2024, 2023 and 2022 was as follows:
 Years Ended December 31,
 202420232022
Number of Common Units, beginning of period3,367.5 3,094.4 3,082.5 
Common Units issued in mergers and acquisitions (1)
50.8 260.2 — 
Issuance of Common Units (2)
12.7 12.9 11.9 
Number of Common Units, end of period3,431.0 3,367.5 3,094.4 
(1)Includes common units issued related to our acquisitions of WTG Midstream in 2024 and of Crestwood and Lotus Midstream in 2023.
(2)Includes common units issued in connection with the distribution reinvestment program and restricted unit vestings.
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block]
The following table presents the components of AOCI, net of tax:
 December 31,
 20242023
Available-for-sale securities$20 $13 
Foreign currency translation adjustment(6)(5)
Actuarial gain related to pensions and other postretirement benefits45 
Investments in unconsolidated affiliates, net14 14 
Total AOCI, net of tax$73 $28 
The following table sets forth the tax amounts included in the respective components of other comprehensive income:
 December 31,
 20242023
Available-for-sale securities$(3)$(3)
Foreign currency translation adjustment
Total$(1)$
Schedule of Preferred Units
The following table summarizes changes in the Energy Transfer Preferred Units:
Preferred Unitholders
Series ASeries BSeries CSeries DSeries ESeries FSeries GSeries HSeries ITotal
Balance, December 31, 2021$958 $556 $440 $434 $786 $496 $1,488 $893 $— $6,051 
Distributions to partners(59)(36)(33)(34)(61)(34)(106)(59)— (422)
Net income59 36 33 34 61 34 106 59 — 422 
Balance, December 31, 2022958 556 440 434 786 496 1,488 893 — 6,051 
Distributions to partners(96)(36)(40)(36)(61)(34)(106)(59)— (468)
Units issued in Crestwood acquisition— — — — — — — — 413 413 
Net income86 36 38 37 61 34 106 59 463 
Balance, December 31, 2023948 556 438 435 786 496 1,488 893 419 6,459 
Distributions to partners(56)(36)(11)(11)(30)(34)(106)(59)(35)(378)
Redemption of Preferred Units(950)— (450)(445)(800)— — — — (2,645)
Other, net13 — 11 10 20 — — — — 54 
Net Income45 36 12 11 24 34 106 59 35 362 
Balance, December 31, 2024.$— $556 $— $— $— $496 $1,488 $893 $419 $3,852 
Sunoco LP [Member]  
Distributions Made to Limited Partner, by Distribution [Table Text Block]
Distributions on Sunoco LP’s units declared and/or paid by Sunoco LP were as follows:
Quarter EndedPayment DateRate
December 31, 2021February 18, 2022$0.8255 
March 31, 2022May 19, 20220.8255 
June 30, 2022August 19, 20220.8255 
September 30, 2022November 18, 20220.8255 
December 31, 2022February 21, 20230.8255 
March 31, 2023May 22, 20230.8420 
June 30, 2023August 21, 20230.8420 
September 30, 2023November 20, 20230.8420 
December 31, 2023February 20, 20240.8420 
March 31, 2024May 20, 20240.8756 
June 30, 2024August 19, 20240.8756 
September 30, 2024November 19, 20240.8756 
December 31, 2024February 19, 20250.8865 
Schedule of Incentive Distributions Made to Managing Members or General Partners by Distribution [Table Text Block]
The following table illustrates the percentage allocations of available cash from operating surplus between Sunoco LP’s common unitholders and the holder of its IDRs based on the specified target distribution levels, after the payment of distributions to Class C unitholders. The amounts set forth under “marginal percentage interest in distributions” are the percentage interests of the IDR holder and the common unitholders in any available cash from operating surplus which Sunoco LP distributes up to and including the corresponding amount in the column “total quarterly distribution per unit target amount.” The percentage interests shown for common unitholders and IDR holder for the minimum quarterly distribution are also applicable to quarterly distribution amounts that are less than the minimum quarterly distribution.
Marginal Percentage Interest in Distributions
Total Quarterly Distribution Target AmountCommon UnitholdersHolder of IDRs
Minimum Quarterly Distribution $0.4375100%—%
First Target Distribution$0.4375 to $0.503125100%—%
Second Target Distribution$0.503125 to $0.54687585%15%
Third Target Distribution$0.546875 to $0.65625075%25%
ThereafterAbove $0.65625050%50%
USAC [Member]  
Distributions Made to Limited Partner, by Distribution [Table Text Block]
USAC Cash Distributions
Energy Transfer owns approximately 46.1 million USAC common units. As of December 31, 2024, USAC had approximately 117 million common units outstanding. USAC currently has a non-economic general partner interest and no outstanding IDRs.
Distributions on USAC’s units declared and/or paid by USAC were as follows:
Quarter EndedPayment DateRate
December 31, 2021February 4, 2022$0.5250 
March 31, 2022May 6, 20220.5250 
June 30, 2022August 5, 20220.5250 
September 30, 2022November 4, 20220.5250 
December 31, 2022February 3, 20230.5250 
March 31, 2023May 5, 20230.5250 
June 30, 2023August 4, 20230.5250 
September 30, 2023November 3, 20230.5250 
December 31, 2023February 2, 20240.5250 
March 31, 2024May 3, 20240.5250 
June 30, 2024August 2, 20240.5250 
September 30, 2024November 1, 20240.5250 
December 31, 2024February 7, 20250.5250 
ET [Member]  
Distributions Made to Limited Partner, by Distribution [Table Text Block]
Our distributions declared and paid with respect to our common units were as follows:
Quarter EndedRecord DatePayment DateRate
December 31, 2021February 8, 2022February 18, 2022$0.1750 
March 31, 2022May 9, 2022May 19, 20220.2000 
June 30, 2022August 8, 2022August 19, 20220.2300 
September 30, 2022November 4, 2022November 21, 20220.2650 
December 31, 2022February 7, 2023February 21, 20230.3050 
March 31, 2023May 8, 2023May 22, 20230.3075 
June 30, 2023August 14, 2023August 21, 20230.3100 
September 30, 2023October 30, 2023November 20, 20230.3125 
December 31, 2023February 7, 2024February 20, 20240.3150 
March 31, 2024May 13, 2024May 20, 20240.3175 
June 30, 2024August 9, 2024August 19, 20240.3200 
September 30, 2024November 8, 2024November 19, 20240.3225 
December 31, 2024February 7, 2025February 19, 20250.3250 
Preferred Units [Member]  
Distributions Made to Limited Partner, by Distribution [Table Text Block]
Distributions on Energy Transfer’s preferred units declared and/or paid by Energy Transfer were as follows:
Period EndedRecord DatePayment DateSeries A
Series B (1)
Series CSeries DSeries E
Series F (1)
Series G (1)
Series H (1)
Series I
December 31, 2021February 1, 2022February 15, 2022$31.25 $33.125 $0.4609 $0.4766 $0.4750 $— $— $— $— 
March 31, 2022May 2, 2022May 16, 2022— — 0.4609 0.4766 0.4750 33.7500 35.63 32.50 — 
June 30, 2022August 1, 2022August 15, 202231.25 33.125 0.4609 0.4766 0.4750 — — — — 
September 30, 2022November 1, 2022November 15, 2022— — 0.4609 0.4766 0.4750 33.7500 35.63 32.50 — 
December 31, 2022February 1, 2023February 15, 202331.25 33.125 0.4609 0.4766 0.4750 — — — — 
March 31, 2023May 1, 2023May 15, 202321.98 — 0.4609 0.4766 0.4750 33.7500 35.63 32.50 — 
June 30, 2023August 1, 2023August 15, 202323.89 33.125 0.6294 0.4766 0.4750 — — — — 
September 30, 2023November 1, 2023November 15, 202324.67 — 0.6489 0.6622 0.4750 33.7500 35.63 32.50 — 
December 31, 2023February 1, 2024February 15, 202424.71 33.125 0.6075 0.6199 0.4750 — — — 0.2111 
March 31, 2024May 1, 2024May 15, 202423.99 — — — 0.4750 33.7500 35.63 32.50 0.2111 
June 30, 2024August 1, 2024August 15, 20249.88 33.125 — — — — — — 0.2111 
(2)
September 30, 2024November 1, 2024November 15, 2024— — — — — 33.7500 35.63 32.50 0.2111 
(2)
December 31, 2024February 1, 2025February 15, 2024— 33.125 — — — — — — 0.2111 
(2)
(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 December 31, 2024, the cash distribution for the Series I Preferred Units was paid on February 14, 2025 to unitholders of record as of the close of business on February 4, 2025. For the period ended September 30, 2024, the cash distribution for the Series I Preferred Units was 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.