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CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Millions
Mar. 31, 2024
Dec. 31, 2023
Current assets    
Cash and cash equivalents $ 65 $ 338
Accounts receivable, net 1,699 1,705
Materials and supplies 153 148
Inventories 798 639
Commodity imbalances 23 26
Other current assets 212 252
Total current assets 2,950 3,108
Property, plant and equipment    
Property, plant and equipment 38,796 38,454
Accumulated depreciation and amortization 5,989 5,757
Net property, plant and equipment 32,807 32,697
Other assets    
Investments in unconsolidated affiliates 1,939 1,874
Goodwill 5,056 4,952
Intangible assets, net 1,311 1,316
Other assets 327 319
Total other assets 8,633 8,461
Total assets 44,390 44,266
Current liabilities    
Current maturities of long-term debt (Note F) 1,234 484
Short-term borrowings (Note F) 320 0
Accounts payable 1,480 1,564
Commodity imbalances 221 244
Accrued taxes 169 215
Accrued interest 268 381
Other current liabilities 502 564
Total current liabilities 4,194 3,452
Long-term debt, excluding current maturities 20,447 21,183
Deferred credits and other liabilities    
Deferred income taxes 2,745 2,594
Other deferred credits 559 553
Total deferred credits and other liabilities 3,304 3,147
Commitments and contingencies (Note J)
Equity (Note G)    
Preferred stock, $0.01 par value:
 authorized and issued $20,000 shares at March 31, 2024, and December 31, 2023 0 0
Common stock, $0.01 par value: authorized $1,200,000,000 shares; issued $609,713,834 shares and outstanding $583,644,277 shares at March 31, 2024; issued $609,713,834 shares and outstanding $583,093,100 shares at December 31, 2023 6 6
Paid-in capital 16,303 16,320
Accumulated other comprehensive loss (128) (33)
Retained earnings 927 868
Treasury stock, at cost: $26,069,557 shares at March 31, 2024, and $26,620,734 shares at December 31, 2023 (663) (677)
Total equity 16,445 16,484
Total liabilities and equity $ 44,390 $ 44,266