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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income $ 225 $ 423
Reconciliation of net income to net cash provided by operating activities:    
Depreciation and amortization 230 177
(Gains)/losses on asset sales and asset impairments, net (42) 2
Deferred income tax expense 2 23
Change in fair value of Preferred Distribution Rate Reset Option (Note 8) 44 67
Equity earnings in unconsolidated entities (97) (88)
Distributions on earnings from unconsolidated entities 96 110
Other 4 6
Changes in assets and liabilities, net of acquisitions (122) 71
Net cash provided by operating activities 340 791
CASH FLOWS FROM INVESTING ACTIVITIES    
Investments in unconsolidated entities (3) (35)
Additions to property, equipment and other (101) (97)
Proceeds from sales of assets 53 21
Cash paid for purchases of linefill (39) 0
Other investing activities 9 3
Net cash used in investing activities (81) (108)
CASH FLOWS FROM FINANCING ACTIVITIES    
Net borrowings/(repayments) under commercial paper program (Note 6) 382 (410)
Net repayments under senior secured hedged inventory facility (Note 6) 0 (166)
Repayments of senior notes (750) 0
Repurchase of common units (Note 7) (25) (3)
Distributions paid to noncontrolling interests (Note 7) (59) (6)
Other financing activities 19 65
Net cash used in financing activities (597) (687)
Effect of translation adjustment 3 0
Net decrease in cash and cash equivalents and restricted cash (335) (4)
Cash and cash equivalents and restricted cash, beginning of period 453 60
Cash and cash equivalents and restricted cash, end of period 118 56
Cash paid for:    
Interest, net of amounts capitalized 74 65
Income taxes, net of amounts refunded 23 24
Series A Preferred Units    
CASH FLOWS FROM FINANCING ACTIVITIES    
Distributions paid to unitholders (Note 7) (37) (37)
Common Units    
CASH FLOWS FROM FINANCING ACTIVITIES    
Distributions paid to unitholders (Note 7) $ (127) $ (130)