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Leases (Tables) | 12 Months Ended
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Dec. 31, 2023
Leases [Abstract] |
Total lease cost by class of underlying asset | Total lease cost was as follows (in millions):
| Pipelines, Terminals, and Tanks |  | Transportation |  | Other |  | Total
|  | Marine |  | Rail |  |
Year ended December 31, 2023 |  |  |  |  |  |  |  |  |
Finance lease cost: |  |  |  |  |  |  |  |  |
Amortization of ROU assets | $ | 213 |  |  | $ | — |  |  | $ | 3 |  |  | $ | 30 |  |  | $ | 246 |
Interest on lease liabilities | 101 |  |  | — |  |  | 1 |  |  | 5 |  |  | 107 |
Operating lease cost | 166 |  |  | 127 |  |  | 80 |  |  | 45 |  |  | 418 |
Variable lease cost | 114 |  |  | 61 |  |  | — |  |  | 8 |  |  | 183 |
Short-term lease cost | 18 |  |  | 125 |  |  | 2 |  |  | 112 |  |  | 257 |
Sublease income | — |  |  | (29) |  |  | — |  |  | (2) |  |  | (31) |
Total lease cost | $ | 612 |  |  | $ | 284 |  |  | $ | 86 |  |  | $ | 198 |  |  | $ | 1,180 |
Year ended December 31, 2022 |  |  |  |  |  |  |  |  |
Finance lease cost: |  |  |  |  |  |  |  |  |
Amortization of ROU assets | $ | 183 |  |  | $ | — |  |  | $ | 3 |  |  | $ | 32 |  |  | $ | 218 |
Interest on lease liabilities | 78 |  |  | — |  |  | 1 |  |  | 5 |  |  | 84 |
Operating lease cost | 171 |  |  | 102 |  |  | 68 |  |  | 38 |  |  | 379 |
Variable lease cost | 79 |  |  | 50 |  |  | — |  |  | 9 |  |  | 138 |
Short-term lease cost | 15 |  |  | 82 |  |  | 3 |  |  | 57 |  |  | 157 |
Sublease income | — |  |  | (27) |  |  | — |  |  | (2) |  |  | (29) |
Total lease cost | $ | 526 |  |  | $ | 207 |  |  | $ | 75 |  |  | $ | 139 |  |  | $ | 947 |
Year ended December 31, 2021 |  |  |  |  |  |  |  |  |
Finance lease cost: |  |  |  |  |  |  |  |  |
Amortization of ROU assets | $ | 137 |  |  | $ | — |  |  | $ | 2 |  |  | $ | 28 |  |  | $ | 167 |
Interest on lease liabilities | 66 |  |  | — |  |  | 1 |  |  | 5 |  |  | 72 |
Operating lease cost | 163 |  |  | 105 |  |  | 64 |  |  | 49 |  |  | 381 |
Variable lease cost | 51 |  |  | 21 |  |  | — |  |  | 7 |  |  | 79 |
Short-term lease cost | 5 |  |  | 44 |  |  | 1 |  |  | 46 |  |  | 96 |
Sublease income | — |  |  | (4) |  |  | — |  |  | (3) |  |  | (7) |
Total lease cost | $ | 422 |  |  | $ | 166 |  |  | $ | 68 |  |  | $ | 132 |  |  | $ | 788 |
Additional information related to operating and finance leases | The following table presents additional information related to our operating and finance leases (in millions, except for lease terms and discount rates):
| December 31, 2023 |  | December 31, 2022
| Operating Leases |  | Finance Leases |  | Operating Leases |  | Finance Leases
Supplemental balance sheet information |  |  |  |  |  |  |
ROU assets, net reflected in the following balance sheet line items: |  |  |  |  |  |  |
Property, plant, and equipment, net | $ | — |  | $ | 2,195 |  | $ | — |  | $ | 2,278
Deferred charges and other assets, net | 1,136 |  | — |  | 1,114 |  | —
Total ROU assets, net | $ | 1,136 |  | $ | 2,195 |  | $ | 1,114 |  | $ | 2,278
Current lease liabilities reflected in the following balance sheet line items: |  |  |  |  |  |  |
Current portion of debt and finance lease obligations | $ | — |  | $ | 209 |  | $ | — |  | $ | 248
Accrued expenses | 360 |  | — |  | 311 |  | —
Noncurrent lease liabilities reflected in the following balance sheet line items: |  |  |  |  |  |  |
Debt and finance lease obligations, less current portion | — |  | 2,097 |  | — |  | 2,146
Other long-term liabilities | 753 |  | — |  | 776 |  | —
Total lease liabilities | $ | 1,113 |  | $ | 2,306 |  | $ | 1,087 |  | $ | 2,394
Other supplemental information |  |  |  |  |  |  |
Weighted-average remaining lease term | 6.9 years |  | 14.3 years |  | 7.5 years |  | 14.6 years
Weighted-average discount rate | 5.7 | % |  | 4.8 | % |  | 5.2 | % |  | 4.6 | %
Remaining minimum lease payments due under long-term operating leases | As of December 31, 2023, the remaining minimum lease payments due under our long-term leases were as follows (in millions):
| Operating Leases |  | Finance Leases |  |  |  |
2024 | $ | 398 |  |  | $ | 312 |  |  |  |  |
2025 | 254 |  |  | 298 |  |  |  |  |
2026 | 195 |  |  | 274 |  |  |  |  |
2027 | 103 |  |  | 244 |  |  |  |  |
2028 | 64 |  |  | 243 |  |  |  |  |
Thereafter | 386 |  |  | 1,967 |  |  |  |  |
Total undiscounted lease payments | 1,400 |  |  | 3,338 |  |  |  |  |
Less: Amount associated with discounting | 287 |  |  | 1,032 |  |  |  |  |
Total lease liabilities | $ | 1,113 |  |  | $ | 2,306 |  |  |  |  |
Remaining minimum lease payments due under long-term finance leases | As of December 31, 2023, the remaining minimum lease payments due under our long-term leases were as follows (in millions):
| Operating Leases |  | Finance Leases |  |  |  |
2024 | $ | 398 |  |  | $ | 312 |  |  |  |  |
2025 | 254 |  |  | 298 |  |  |  |  |
2026 | 195 |  |  | 274 |  |  |  |  |
2027 | 103 |  |  | 244 |  |  |  |  |
2028 | 64 |  |  | 243 |  |  |  |  |
Thereafter | 386 |  |  | 1,967 |  |  |  |  |
Total undiscounted lease payments | 1,400 |  |  | 3,338 |  |  |  |  |
Less: Amount associated with discounting | 287 |  |  | 1,032 |  |  |  |  |
Total lease liabilities | $ | 1,113 |  |  | $ | 2,306 |  |  |  |  |

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- Definition Tabular disclosure of lessee's lease cost. Includes, but is not limited to, interest expense for finance lease, amortization of right-of-use asset for finance lease, operating lease cost, short-term lease cost, variable lease cost and sublease income. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 4 -Publisher FASB -URI https://asc.fasb.org//1943274/2147478964/842-20-50-4 + Details
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- Definition Tabular disclosure of undiscounted cash flows of lessee's operating lease liability. Includes, but is not limited to, reconciliation of undiscounted cash flows to operating lease liability recognized in statement of financial position. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 6 -Publisher FASB -URI https://asc.fasb.org//1943274/2147478964/842-20-50-6 + Details
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