Related Party Transactions (Tables)

9 Months Ended

Sep. 30, 2023

As of September 30, 2023, our outstanding related party note receivable and related party note payable balances were as follows (in millions):


	September 30, 2023
Related party note receivable (1)	$	369
Related party note payable (1)	$	369

(1)We have elected to present our related party notes with the same counterparty on a net basis on our Condensed Consolidated Balance Sheet because there is a legal right to offset and we intend to offset with the counterparty.

The impact to our Condensed Consolidated Statements of Operations from these transactions is included below (in millions):


	Three Months Ended September 30,				Nine Months Ended September 30,
	2023		2022		2023		2022
Revenues from related parties	$	13	$	11	$	37	$	33

Purchases and related costs from related parties	$	103	$	90	$	302	$	274

Our receivable and payable amounts with these related parties as reflected on our Condensed Consolidated Balance Sheets were as follows (in millions):


	September 30, 2023		December 31, 2022
Trade accounts receivable and other receivables, net from related parties (1)	$	85	$	45

Trade accounts payable to related parties (1) (2)	$	70	$	79

(1)Includes amounts related to transportation and storage services, amounts owed to us or advanced to us related to investment capital projects of equity method investees where we serve as construction manager and amounts related to crude oil purchases and sales.

(2)We have agreements to store crude oil at facilities and transport crude oil or utilize capacity on pipelines that are owned by equity method investees. A portion of our commitment to transport is supported by crude oil buy/sell or other agreements with third parties with commensurate quantities.