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GOODWILL AND INTANGIBLE ASSETS (Tables)
 12 Months Ended
Dec. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill by Segment The following table sets forth our goodwill, by segment, for the period indicated:
Natural Gas
Gathering and
Processing		Natural Gas
Liquids		Natural Gas
Pipelines
Refined Products and Crude
Total
 
(Millions of dollars)
Gross goodwill$153 $371 $157 $4,424 $5,105 
Accumulated impairment losses(153)— — — (153)
Dec. 31, 2023— 371 157 4,424 4,952 
Magellan Acquisition measurement period adjustments (a)— — — 165 165 
EnLink Controlling Interest Acquisition (b)486 1,461 229 541 2,717 
Medallion Acquisition (c)
— — — 259 259 
Gulf Coast NGL pipeline acquisition
— 31 — — 31 
Interstate natural gas pipeline divestiture
— — (33)— (33)
Dec. 31, 2024$486 $1,863 $353 $5,389 $8,091 
(a) - During the remaining measurement period subsequent to Dec. 31, 2023, we recorded adjustments to the Magellan preliminary purchase price allocation that resulted in an increase to goodwill of $165 million.
(b) - We established deferred income tax liabilities resulting from the carryover tax basis, which increased goodwill. The remainder of the goodwill primarily represents commercial synergies. Goodwill will not be deductible for tax purposes. The allocation of goodwill is preliminary and may be updated as we continue to evaluate the benefits of expected commercial synergies to our segments.
(c) - Goodwill represents commercial synergies. The allocation of goodwill is preliminary and may be updated as we continue to evaluate the benefits of expected commercial synergies to our segments.
Gross Carrying Amount and Accumulated Amortization of Intangible Assets The following table reflects the gross carrying amount and accumulated amortization of intangible assets as of the dates presented:
Dec. 31,
20242023
 
(Millions of dollars)
Gross intangible assets (a)$3,290 $1,505 
Accumulated amortization(251)(189)
Intangible assets, net
$3,039 $1,316 
        
(a) - Increases to gross intangible assets primarily represent customer relationships associated with the EnLink Controlling Interest Acquisition and the Medallion Acquisition.