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Related Party Transactions (Tables) | 12 Months Ended
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Dec. 31, 2024
Related Party Transactions [Abstract] |
Schedule of Related Party Transactions | As of December 31, 2024 and 2023, our outstanding related party notes receivable and related party notes payable balances were as follows (in millions):
| December 31, 2024 | December 31, 2023 |  |
Related party notes receivable (1) | $ | 948 |  | $ | 379 |  |  |
Related party notes payable (1) | $ | 948 |  | $ | 379 |  |  |
(1)We have elected to present our related party notes with the same counterparty on a net basis on our Consolidated Balance Sheets because there is a legal right to offset and we intend to offset with the counterparty. During the three years ended December 31, 2024, we recognized sales and transportation revenues, purchased petroleum products and utilized transportation and storage services from our related parties. These transactions were conducted at posted tariff rates or prices that we believe approximate market. The impact to our Consolidated Statements of Operations from these transactions is included below (in millions):
| Year Ended December 31,
| 2024 |  | 2023 |  | 2022
Revenues from related parties | $ | 46 |  |  | $ | 48 |  |  | $ | 45 |
Purchases and related costs from related parties | $ | 400 |  |  | $ | 404 |  |  | $ | 365 |
Our receivable and payable amounts with these related parties as reflected on our Consolidated Balance Sheets were as follows (in millions):
| December 31,
| 2024 |  | 2023
Trade accounts receivable and other receivables, net from related parties (1) | $ | 40 |  |  | $ | 63 |
Trade accounts payable to related parties (1) (2) | $ | 66 |  |  | $ | 72 |
(1)Includes amounts related to transportation and storage services and amounts owed to us or advanced to us related to investment capital projects of equity method investees where we serve as construction manager. (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.

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- Definition Tabular disclosure of related party transactions. Examples of related party transactions include, but are not limited to, transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners and (d) affiliates. + References No definition available. + Details
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