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CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions | Dec. 31, 2024 | Dec. 31, 2023
--- | --- | ---
CURRENT ASSETS |  |
Cash and cash equivalents | $ 348 | $ 450
Trade accounts receivable and other receivables, net | 3,901 | 3,760
Inventory | 439 | 548
Other current assets | 114 | 155
Total current assets | 4,802 | 4,913
PROPERTY AND EQUIPMENT | 21,300 | 21,143
Accumulated depreciation | (5,876) | (5,361)
Property and equipment, net | 15,424 | 15,782
OTHER ASSETS |  |
Investments in unconsolidated entities | 2,811 | 2,820
Intangible assets, net | 1,677 | 1,875
Linefill | 968 | 976
Long-term operating lease right-of-use assets, net | 332 | 313
Long-term inventory | 280 | 265
Other long-term assets, net | 268 | 411
Total assets | 26,562 | 27,355
CURRENT LIABILITIES |  |
Trade accounts payable | 3,881 | 3,844
Short-term debt | 408 | 446
Other current liabilities | 661 | 713
Total current liabilities | 4,950 | 5,003
LONG-TERM LIABILITIES |  |
Senior notes, net | 7,141 | 7,242
Other long-term debt, net | 72 | 63
Long-term operating lease liabilities | 313 | 274
Other long-term liabilities and deferred credits | 990 | 1,041
Total long-term liabilities | 8,516 | 8,620
COMMITMENTS AND CONTINGENCIES (NOTE 18) |  |
PARTNERS’ CAPITAL |  |
Total partners’ capital excluding noncontrolling interests | 9,813 | 10,422
Noncontrolling interests | 3,283 | 3,310
Total partners’ capital | 13,096 | 13,732
Total liabilities and partners’ capital | 26,562 | 27,355
Series A Preferred Units |  |
PARTNERS’ CAPITAL |  |
Partners' capital | 1,514 | 1,509
Series B Preferred Units |  |
PARTNERS’ CAPITAL |  |
Partners' capital | 787 | 787
Common Units |  |
PARTNERS’ CAPITAL |  |
Partners' capital | $ 7,512 | $ 8,126

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