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v3.26.1

Segment Information - Reconciliation to Net Income (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended
--- | --- | ---
Jun. 30, 2026 | Jun. 30, 2025 | Jun. 30, 2026 | Jun. 30, 2025
Segment Reporting [Line Items] |  |  |  |  |
Depreciation and Amortization | [1] | $ 365 | $ 324 | $ 723 | $ 650
Interest and Other Financial Costs |  | 289 | 234 | 580 | 463
Income from equity method investments |  | 180 | 170 | 362 | 356
Net income |  | 1,087 | 1,058 | 2,009 | 2,194
Operating Segments |  |  |  |  |
Segment Reporting [Line Items] |  |  |  |  |
Adjusted EBITDA |  | 1,775 | 1,690 | 3,504 | 3,447
Segment Reconciling Items [Member] |  |  |  |  |
Segment Reporting [Line Items] |  |  |  |  |
Distributions/adjustments related to equity method investments |  | 234 | 229 | 485 | 456
Adjusted EBITDA attributable to noncontrolling interests |  | 11 | 11 | 22 | 22
Other Noncash Income (Expense) | [2] | (9) | 26 | 91 | 62
Crude Oil and Products Logistics |  |  |  |  |
Segment Reporting [Line Items] |  |  |  |  |
Depreciation and Amortization |  | 146 | 135 | 289 | 268
Crude Oil and Products Logistics | Operating Segments |  |  |  |  |
Segment Reporting [Line Items] |  |  |  |  |
Adjusted EBITDA | [3] | 1,161 | 1,138 | 2,272 | 2,235
Income from equity method investments |  | 52 | 59 | 114 | 115
Natural Gas and NGL Services |  |  |  |  |
Segment Reporting [Line Items] |  |  |  |  |
Depreciation and Amortization |  | 219 | 189 | 434 | 382
Natural Gas and NGL Services | Operating Segments |  |  |  |  |
Segment Reporting [Line Items] |  |  |  |  |
Adjusted EBITDA | [3] | 614 | 552 | 1,232 | 1,212
Income from equity method investments |  | $ 128 | $ 111 | $ 248 | $ 241
[1] | Depreciation and amortization attributable to Crude Oil and Products Logistics was $146 million and $289 million for the three and six months ended June 30, 2026, respectively, and $135 million and $268 million for the three and six months ended June 30, 2025, respectively. Depreciation and amortization attributable to Natural Gas and NGL Services was $219 million and $434 million for the three and six months ended June 30, 2026, respectively, and $189 million and $382 million for the three and six months ended June 30, 2025, respectively.
[2] | Includes unrealized derivative gain/(loss), equity-based compensation, provision for income taxes, and other miscellaneous items.
[3] | See below for the reconciliation from Segment Adjusted EBITDA to Net income.

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