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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income $ 475 $ 225
Reconciliation of net income to net cash provided by operating activities:    
Depreciation and amortization 256 230
(Gains)/losses on asset sales and asset impairments, net (154) (42)
Deferred income tax expense/(benefit) (8) 2
Change in fair value of Preferred Distribution Rate Reset Option (Note 7) (58) 44
Equity earnings in unconsolidated entities (89) (97)
Distributions on earnings from unconsolidated entities 108 96
Other 15 4
Changes in assets and liabilities, net of acquisitions 198 (122)
Net cash provided by operating activities 743 340
CASH FLOWS FROM INVESTING ACTIVITIES    
Investments in unconsolidated entities (4) (3)
Additions to property, equipment and other (122) (101)
Cash paid for purchases of linefill   (39)
Proceeds from sales of assets 284 53
Other investing activities   9
Net cash provided by/(used in) investing activities 158 (81)
CASH FLOWS FROM FINANCING ACTIVITIES    
Net borrowings under commercial paper program (Note 5)   382
Repayments of senior notes (Note 5) (400) (750)
Repurchase of common units   (25)
Distributions paid to noncontrolling interests (Note 6) (78) (59)
Other financing activities (56) 19
Net cash used in financing activities (776) (597)
Effect of translation adjustment   3
Net increase/(decrease) in cash and cash equivalents and restricted cash 125 (335)
Cash and cash equivalents and restricted cash, beginning of period 401 453
Cash and cash equivalents and restricted cash, end of period 526 118
Cash paid/(received) for:    
Interest, net of amounts capitalized 65 74
Income taxes, net of amounts refunded (18) 23
Series A Preferred Units    
CASH FLOWS FROM FINANCING ACTIVITIES    
Distributions paid to unitholders (Note 6) (37) (37)
Series B Preferred Units    
CASH FLOWS FROM FINANCING ACTIVITIES    
Distributions paid to unitholders (Note 6) (18)  
Common Units    
CASH FLOWS FROM FINANCING ACTIVITIES    
Distributions paid to unitholders (Note 6) $ (187) $ (127)