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Consolidated Statements of Cash Flows - USD ($)
$ in Millions
 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Operating activities:    
Net income $ 3,749 $ 3,248
Adjustments to reconcile net income to net cash provided by operating activities:    
Amortization of deferred financing costs and debt discount 23 41
Depreciation and amortization [1] 996 959
Deferred income taxes 1 0
Gain on equity method investments 484 20
(Gain)/loss on disposal of assets (1) 3
Income from equity method investments (542) (631)
Distributions from unconsolidated affiliates 631 596
Change in fair value of derivatives (7) 7
Changes in:    
Current receivables 44 138
Inventories (19) (11)
Current liabilities and other current assets (38) (54)
Assets and liabilities - related parties 105 (23)
Right of use assets and operating lease liabilities 3 3
Deferred revenue (52) 2
All other, net 4 13
Net cash provided by operating activities 4,413 4,271
Cash Provided by (Used in) Investing Activity, Including Discontinued Operation [Abstract]    
Additions to property, plant and equipment (1,094) (748)
Acquisitions, net of cash acquired 3,316 622
Disposal of assets 1 0
Investments - acquisitions and contributions 776 414
Investments - redemptions, repayments, return of capital and sales proceeds 143 138
Payment for (Proceeds from) Other Investing Activity 108 0
Net cash used in investing activities (4,934) (1,646)
Cash Provided by (Used in) Financing Activity, Including Discontinued Operation [Abstract]    
Long-term debt borrowings 6,541 1,630
Long-term debt - repayments (2,464) (1)
Debt issuance costs 62 15
Unit repurchases [2] (300) (226)
Distributions to noncontrolling interests 33 33
Distributions to Series A preferred unitholders 6 38
Distributions to LP unitholders (2,923) (2,585)
Contributions from MPC 20 26
All other, net (6) (5)
Net cash provided by (used in) financing activities 767 (1,247)
Net change in cash, cash equivalents and restricted cash 246 1,378
Cash, Cash Equivalents, Restricted Cash, and Restricted Cash Equivalents, Beginning Balance 1,519 1,048
Cash, Cash Equivalents, Restricted Cash, and Restricted Cash Equivalents, Ending Balance $ 1,765 $ 2,426
[1] Depreciation and amortization attributable to Crude Oil and Products Logistics was $139 million and $407 million for the three and nine months ended September 30, 2025, respectively, and $132 million and $393 million for the three and nine months ended September 30, 2024, respectively. Depreciation and amortization attributable to Natural Gas and NGL Services was $207 million and $589 million for the three and nine months ended September 30, 2025, respectively, and $190 million and $566 million for the three and nine months ended September 30, 2024, respectively.
[2] Cash paid for common units repurchased and average cost per unit includes commissions paid to brokers during the period.