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UNCONSOLIDATED AFFILIATES
 6 Months Ended
Jun. 30, 2025
Equity Method Investments and Joint Ventures [Abstract]  
UNCONSOLIDATED AFFILIATES UNCONSOLIDATED AFFILIATES
Equity in Net Earnings from Investments - The following table sets forth our equity in net earnings from investments for the periods indicated:
Three Months Ended
June 30,		Six Months Ended
June 30,
2025202420252024
(Millions of dollars)
Northern Border$20 $22 $48 $47 
Overland Pass20 23 46 38 
Saddlehorn13 13 26 23 
BridgeTex6 11 22 18 
Roadrunner11 10 21 21 
Other11 9 26 17 
  Equity in net earnings from investments$81 $88 $189 $164 

We incurred expenses in transactions with unconsolidated affiliates of $96 million and $56 million for the three months ended June 30, 2025 and 2024, respectively, and $176 million and $95 million for the six months ended June 30, 2025 and 2024, respectively, related primarily to Overland Pass, Matterhorn and Northern Border. Revenue earned and accounts receivable from, and accounts payable to, our unconsolidated affiliates were not material.

We are the operator of Roadrunner, BridgeTex and Saddlehorn. In each case, we have operating agreements that provide for reimbursement or payment to us for management services and certain operating costs. Reimbursements and payments included in operating income in our Consolidated Statements of Income for all periods presented were not material.

Subsequent Event - On July 22, 2025, we completed the BridgeTex Additional Interest Acquisition. Pursuant to the purchase agreement, we paid approximately $270 million in cash, which we funded with short-term borrowings. Following the completion of the transaction, we now have a 60% ownership interest in BridgeTex.