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CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Millions
Jun. 30, 2024
Dec. 31, 2023
Current assets    
Cash and cash equivalents $ 36 $ 338
Accounts receivable, net 1,330 1,705
Materials and supplies 153 148
Inventories 671 639
Commodity imbalances 15 26
Other current assets 270 252
Total current assets 2,475 3,108
Property, plant and equipment    
Property, plant and equipment 39,627 38,454
Accumulated depreciation and amortization 6,212 5,757
Net property, plant and equipment 33,415 32,697
Other assets    
Investments in unconsolidated affiliates 1,937 1,874
Goodwill 5,112 4,952
Intangible assets, net 1,297 1,316
Other assets 299 319
Total other assets 8,645 8,461
Total assets 44,535 44,266
Current liabilities    
Current maturities of long-term debt (Note F) 1,354 484
Short-term borrowings (Note F) 180 0
Accounts payable 1,271 1,564
Commodity imbalances 267 244
Accrued taxes 165 215
Accrued interest 355 381
Other current liabilities 387 564
Total current liabilities 3,979 3,452
Long-term debt, excluding current maturities 20,339 21,183
Deferred credits and other liabilities    
Deferred income taxes 2,956 2,594
Other deferred credits 552 553
Total deferred credits and other liabilities 3,508 3,147
Commitments and contingencies (Note J)
Equity (Note G)    
Preferred stock, $0.01 par value:
 authorized and issued $20,000 shares at June 30, 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 $584,060,910 shares at June 30, 2024; issued $609,713,834 shares and outstanding $583,093,100 shares at December 31, 2023 6 6
Paid-in capital 16,338 16,320
Accumulated other comprehensive loss (108) (33)
Retained earnings 1,126 868
Treasury stock, at cost: $25,652,924 shares at June 30, 2024, and $26,620,734 shares at December 31, 2023 (653) (677)
Total equity 16,709 16,484
Total liabilities and equity $ 44,535 $ 44,266