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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