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Net Income per Common Unit (Tables)

9 Months Ended

Sep. 30, 2025

Earnings Per Share [Abstract]

Schedule of Net Income per Common Unit

The following table provides a reconciliation of net income and the allocation of net income to the common units, the general partner units and IDRs for purposes of computing basic and diluted net income per unit (in millions, except per unit data). The amounts in the table may not recalculate exactly due to rounding because it is calculated based on whole numbers, not the rounded numbers presented.

						Total						Limited Partner Common Units																		General Partner Units						IDR
Three Months Ended September 30, 2025
Net income						$	506
Less: declared distributions (1)						520						402																		10						108
Assumed allocation of undistributed net loss (2)						$	(14)					(14)																		—						—
Assumed allocation of net income												$	388																	$	10					$	108
Weighted average units outstanding												484.0
Basic and diluted net income per unit												$	0.80
Three Months Ended September 30, 2024
Net income						$	635
Less: declared distributions (1)						501						392																		10						99
Assumed allocation of undistributed net income (2)						$	134					132																		3						—
Assumed allocation of net income												$	524																	$	13					$	99
Weighted average units outstanding												484.0
Basic and diluted net income per unit												$	1.08
Nine Months Ended September 30, 2025
Net income						$	1,700
Less: declared distributions (1)						1,542						1,196																		31						315
Assumed allocation of undistributed net income (2)						$	158					155																		3						—
Assumed allocation of net income												$	1,351																	$	34					$	315
Weighted average units outstanding												484.0
Basic and diluted net income per unit												$	2.79
Nine Months Ended September 30, 2024
Net income						$	1,887
Less: declared distributions (1)						1,503						1,176																		30						297
Assumed allocation of undistributed net income (2)						$	384					376																		8						—
Assumed allocation of net income												$	1,552																	$	38					$	297
Weighted average units outstanding												484.0
Basic and diluted net income per unit												$	3.21

(1)Represents distributions declared with respect to earnings of the respective period.

(2)Under our partnership agreement, the IDRs participate in net income only to the extent of the amount of cash distributions actually declared, thereby excluding the IDRs from participating in undistributed net income (loss).

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- References

No definition available.

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- Definition

Tabular disclosure of the effect of income (loss) on basic earnings per share.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482689/260-10-45-3

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482662/260-10-50-1

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 55
-Paragraph 52
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482635/260-10-55-52

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