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CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Millions
Dec. 31, 2023
Dec. 31, 2022
Current assets    
Cash and cash equivalents $ 338 $ 220
Accounts receivable, net 1,705 1,532
Materials and supplies 148 149
Inventories 639 432
Commodity imbalances 26 43
Other current assets 252 172
Total current assets 3,108 2,548
Property, plant and equipment    
Property, plant and equipment 38,454 25,015
Accumulated depreciation and amortization 5,757 5,063
Net property, plant and equipment (Note F) 32,697 19,952
Other assets    
Investments in unconsolidated affiliates (Note N) 1,874 802
Goodwill (Note G) 4,952 528
Intangible assets, net (Note G) 1,316 225
Other assets 319 324
Total other assets 8,461 1,879
Total assets 44,266 24,379
Current liabilities    
Current maturities of long-term debt (Note H) 484 925
Accounts payable 1,564 1,359
Commodity imbalances 244 254
Accrued taxes 215 136
Accrued interest 381 233
Operating lease liability 23 12
Other current liabilities 541 132
Total current liabilities 3,452 3,051
Long-term debt, excluding current maturities (Note H) 21,183 12,696
Deferred credits and other liabilities    
Deferred income taxes (Note M) 2,594 1,739
Operating lease liability 74 68
Other deferred credits 479 331
Total deferred credits and other liabilities 3,147 2,138
Commitments and contingencies (Note O)
Equity (Note I)    
Preferred stock, $0.01 par value:
authorized and issued 20,000 shares at December 31, 2023, and at December 31, 2022 0 0
Common stock, $0.01 par value:
authorized 1,200,000,000 shares; issued 609,713,834 shares and outstanding 583,093,100 shares at December 31, 2023; issued 474,916,234 shares and outstanding 447,157,771 shares at December 31, 2022 6 5
Paid-in capital 16,320 7,253
Accumulated other comprehensive loss (33) (108)
Retained earnings 868 50
Treasury stock, at cost: 26,620,734 shares at December 31, 2023, and 27,758,463 shares at December 31, 2022 (677) (706)
Total equity 16,484 6,494
Total liabilities and equity $ 44,266 $ 24,379