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Revenue (Tables) | 6 Months Ended
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Jun. 30, 2026
Revenue from Contract with Customer [Abstract] |
Disaggregation of Revenue Table | The following tables represent a disaggregation of revenue for each reportable segment for the three and six months ended June 30, 2026 and June 30, 2025:
| Three Months Ended June 30, 2026
(In millions) | Crude Oil and Products Logistics |  | Natural Gas and NGL Services |  | Total
Revenues and other income: |  |  |  |  |
Service revenue | $ | 94 |  |  | $ | 609 |  |  | $ | 703 |
Service revenue - related parties | 1,138 |  |  | 6 |  |  | 1,144 |
Service revenue - product related | — |  |  | 85 |  |  | 85 |
Product sales | 2 |  |  | 556 |  |  | 558 |
Product sales - related parties | 5 |  |  | 120 |  |  | 125 |
Total revenues from contracts with customers | $ | 1,239 |  |  | $ | 1,376 |  |  | 2,615 |
Non-ASC 606 revenue and other income(1) |  |  |  |  | 697 |
Total revenues and other income |  |  |  |  | $ | 3,312 |
| Three Months Ended June 30, 2025
(In millions) | Crude Oil and Products Logistics |  | Natural Gas and NGL Services |  | Total
Revenues and other income: |  |  |  |  |
Service revenue | $ | 114 |  |  | $ | 582 |  |  | $ | 696 |
Service revenue - related parties | 1,088 |  |  | 5 |  |  | 1,093 |
Service revenue - product related | — |  |  | 70 |  |  | 70 |
Product sales | 1 |  |  | 471 |  |  | 472 |
Product sales - related parties | 3 |  |  | 22 |  |  | 25 |
Total revenues from contracts with customers | $ | 1,206 |  |  | $ | 1,150 |  |  | 2,356 |
Non-ASC 606 revenue and other income(1) |  |  |  |  | 647 |
Total revenues and other income |  |  |  |  | $ | 3,003 |
| Six Months Ended June 30, 2026
(In millions) | Crude Oil and Products Logistics |  | Natural Gas and NGL Services |  | Total
Revenues and other income: |  |  |  |  |
Service revenue | $ | 185 |  |  | $ | 1,229 |  |  | $ | 1,414 |
Service revenue - related parties | 2,222 |  |  | 12 |  |  | 2,234 |
Service revenue - product related | — |  |  | 89 |  |  | 89 |
Product sales | 3 |  |  | 1,031 |  |  | 1,034 |
Product sales - related parties | 8 |  |  | 185 |  |  | 193 |
Total revenues from contracts with customers | $ | 2,418 |  |  | $ | 2,546 |  |  | 4,964 |
Non-ASC 606 revenue and other income(1) |  |  |  |  | 1,386 |
Total revenues and other income |  |  |  |  | $ | 6,350 |
| Six Months Ended June 30, 2025
(In millions) | Crude Oil and Products Logistics |  | Natural Gas and NGL Services |  | Total
Revenues and other income: |  |  |  |  |
Service revenue | $ | 217 |  |  | $ | 1,186 |  |  | $ | 1,403 |
Service revenue - related parties | 2,147 |  |  | 12 |  |  | 2,159 |
Service revenue - product related | — |  |  | 169 |  |  | 169 |
Product sales | 2 |  |  | 983 |  |  | 985 |
Product sales - related parties | 6 |  |  | 94 |  |  | 100 |
Total revenues from contracts with customers | $ | 2,372 |  |  | $ | 2,444 |  |  | 4,816 |
Non-ASC 606 revenue and other income(1) |  |  |  |  | 1,311 |
Total revenues and other income |  |  |  |  | $ | 6,127 |
(1) Non-ASC 606 Revenue and other income includes rental income, sales-type lease revenue, income from equity method investments, and other income.
Schedule of Contract with Customer, Contract Asset, Contract Liability, and Receivable | The tables below reflect the changes in ASC 606 contract balances for the six months ended June 30, 2026 and June 30, 2025:
(In millions) | Balance at December 31, 2025 |  | Additions/ (Deletions) |  | Revenue Recognized(1) |  | Balance at June 30, 2026
Contract assets | $ | 15 |  |  | $ | (14) |  |  | $ | — |  |  | $ | 1 |
Long-term contract assets | 4 |  |  | — |  |  | — |  |  | 4 |
Deferred revenue | 13 |  |  | 18 |  |  | (12) |  |  | 19 |
Deferred revenue - related parties | 66 |  |  | 41 |  |  | (39) |  |  | 68 |
Long-term deferred revenue | 117 |  |  | (9) |  |  | — |  |  | 108 |
Long-term deferred revenue - related parties | 45 |  |  | 2 |  |  | — |  |  | 47 |
(In millions) | Balance at December 31, 2024 |  | Additions/ (Deletions) |  | Revenue Recognized(1) |  | Balance at June 30, 2025
Contract assets | $ | 2 |  |  | $ | 5 |  |  | $ | — |  |  | $ | 7 |
Deferred revenue | 84 |  |  | 14 |  |  | (38) |  |  | 60 |
Deferred revenue - related parties | 71 |  |  | 42 |  |  | (42) |  |  | 71 |
Long-term deferred revenue | 315 |  |  | (9) |  |  | — |  |  | 306 |
Long-term deferred revenue - related parties | 44 |  |  | (4) |  |  | — |  |  | 40 |
(1) No significant revenue was recognized related to past performance obligations in the period presented.
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction | The table below includes estimated revenue expected to be recognized in the future related to performance obligations that are unsatisfied (or partially unsatisfied) as of June 30, 2026. The amounts presented below are generally limited to fixed consideration from contracts with customers that contain minimum volume commitments. A significant portion of our future contracted revenue is excluded from the amounts presented below in accordance with ASC 606. Variable consideration that is constrained or not required to be estimated as it reflects our efforts to perform is excluded from this disclosure. Additionally, we do not disclose information on the future performance obligations for any contract with an original expected duration of one year or less, or that are terminable by our customer with little or no termination penalties. Potential future performance obligations related to renewals that have not yet been exercised or are not certain of exercise are excluded from the amounts presented below. Revenues classified as Rental income and Sales-type lease revenue are also excluded from this table.
(In billions) |
2026 | $ | 1.0 |
2027 | 1.9 |
2028 | 0.7 |
2029 | 0.3 |
2030 | 0.3 |
2031 and thereafter | 0.9 |
Total estimated revenue on remaining performance obligations | $ | 5.1 |
As of June 30, 2026, unsatisfied performance obligations included in the Consolidated Balance Sheets are $242 million and will be recognized as revenue as the obligations are satisfied, which is generally expected to occur over the next 19 years. A portion of this amount is not disclosed in the table above as it is deemed variable consideration due to volume variability.

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- Definition Tabular disclosure of receivable, contract asset, and contract liability from contract with customer. Includes, but is not limited to, change in contract asset and contract liability. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 10 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-10 + Details
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- Definition Tabular disclosure of disaggregation of revenue into categories depicting how nature, amount, timing, and uncertainty of revenue and cash flows are affected by economic factor. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 5 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-5 + Details
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- Definition Tabular disclosure of expected timing for satisfying remaining performance obligation. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Name Accounting Standards Codification -Section 50 -Paragraph 13 -Subparagraph (b)(1) -SubTopic 10 -Topic 606 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-13 + Details
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