XML 35 R23.htm IDEA: XBRL DOCUMENT
v3.25.2

Discontinued Operations (Tables) | 6 Months Ended
--- | ---
Jun. 30, 2025
Discontinued Operations and Disposal Groups [Abstract] |
Schedule of Disposal Groups, Including Discontinued Operations | The following table summarizes the carrying amounts of major classes of assets and liabilities of discontinued operations (in millions):
| June 30, 2025 |  | December 31, 2024
Assets: |  |  |
Current assets: |  |  |
Trade accounts receivable and other receivables, net | $ | 193 |  |  | $ | 222 |
Inventory | 168 |  |  | 178 |
Other current assets | 24 |  |  | 15 |
Total current assets of discontinued operations | $ | 385 |  |  | $ | 415 |
Long-term assets: |  |  |
Property and equipment, net (1) | $ | 2,118 |  |  | $ | 1,978 |
Linefill | 71 |  |  | 64 |
Long-term operating lease right-of-use assets, net | 137 |  |  | 143 |
Long-term inventory | 41 |  |  | 38 |
Other long-term assets, net | 115 |  |  | 126 |
Total long-term assets of discontinued operations | $ | 2,482 |  |  | $ | 2,349 |
Liabilities: |  |  |
Current liabilities: |  |  |
Trade accounts payable | $ | 222 |  |  | $ | 234 |
Short-term debt | 1 |  |  | 1 |
Other current liabilities | 90 |  |  | 115 |
Total current liabilities of discontinued operations | $ | 313 |  |  | $ | 350 |
Long-term liabilities: |  |  |
Long-term operating lease liabilities | $ | 107 |  |  | $ | 121 |
Other long-term liabilities and deferred credits | 491 |  |  | 455 |
Total long-term liabilities of discontinued operations | $ | 598 |  |  | $ | 576 |
(1)Amounts are net of accumulated depreciation of $887 million and $794 million as of June 30, 2025 and December 31, 2024, respectively. The following table provides a reconciliation of the line items comprising pretax income from discontinued operations to income from discontinued operations, net of tax (in millions):
| Three Months Ended June 30, |  | Six Months Ended June 30,
| 2025 |  | 2024 |  | 2025 |  | 2024
Revenues: |  |  |  |  |  |  |
Product sales | $ | 181 |  |  | $ | 142 |  |  | $ | 679 |  |  | $ | 455 |
Services | 30 |  |  | 34 |  |  | 66 |  |  | 77 |
Total revenues | 211 |  |  | 176 |  |  | 745 |  |  | 532 |
Cost and Expenses: |  |  |  |  |  |  |
Purchases and related costs | 10 |  |  | 20 |  |  | 252 |  |  | 232 |
Field operating costs | 53 |  |  | 70 |  |  | 122 |  |  | 155 |
General and administrative expenses | 12 |  |  | 14 |  |  | 26 |  |  | 29 |
Depreciation and amortization | 27 |  |  | 31 |  |  | 57 |  |  | 62 |
(Gains)/losses on asset sales, net | 13 |  |  | (1) |  |  | 13 |  |  | (2) |
Total costs and expenses | 115 |  |  | 134 |  |  | 470 |  |  | 476 |
Income from discontinued operations before tax | 96 |  |  | 42 |  |  | 275 |  |  | 56 |
Current income tax expense | (14) |  |  | (17) |  |  | (54) |  |  | (55) |
Deferred income tax (expense)/benefit | (12) |  |  | 7 |  |  | (15) |  |  | 41 |
Income from discontinued operations, net of tax | $ | 70 |  |  | $ | 32 |  |  | $ | 206 |  |  | $ | 42 |

X
- References No definition available. + Details
Name: | us-gaap_DiscontinuedOperationsAndDisposalGroupsAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of information related to a disposal group. Includes, but is not limited to, a discontinued operation, disposal classified as held-for-sale or disposed of by means other than sale or disposal of an individually significant component. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 3 -SubTopic 10 -Topic 360 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482099/360-10-50-3 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 360 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3A -Subparagraph (b)(2) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482099/360-10-50-3A Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 360 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3A -Subparagraph (b)(1) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482099/360-10-50-3A Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 205 -SubTopic 20 -Name Accounting Standards Codification -Section 45 -Paragraph 11 -Publisher FASB -URI https://asc.fasb.org/1943274/2147483475/205-20-45-11 Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 205 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 3A -Publisher FASB -URI https://asc.fasb.org/1943274/2147483499/205-20-50-3A Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 205 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 4A -Publisher FASB -URI https://asc.fasb.org/1943274/2147483499/205-20-50-4A Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 205 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 4B -Publisher FASB -URI https://asc.fasb.org/1943274/2147483499/205-20-50-4B Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 205 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 5A -Publisher FASB -URI https://asc.fasb.org/1943274/2147483499/205-20-50-5A Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 205 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 5B -Publisher FASB -URI https://asc.fasb.org/1943274/2147483499/205-20-50-5B Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 205 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 5C -Publisher FASB -URI https://asc.fasb.org/1943274/2147483499/205-20-50-5C Reference 11: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 205 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 5D -Publisher FASB -URI https://asc.fasb.org/1943274/2147483499/205-20-50-5D Reference 12: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 205 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 7 -Publisher FASB -URI https://asc.fasb.org/1943274/2147483499/205-20-50-7 Reference 13: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 360 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3A -Publisher FASB -URI https://asc.fasb.org/1943274/2147482099/360-10-50-3A Reference 14: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 1 -SubTopic 20 -Topic 205 -Publisher FASB -URI https://asc.fasb.org/1943274/2147483499/205-20-50-1 Reference 15: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 3 -Publisher FASB -URI https://asc.fasb.org/1943274/2147483499/205-20-50-3 + Details
Name: | us-gaap_ScheduleOfDisposalGroupsIncludingDiscontinuedOperationsIncomeStatementBalanceSheetAndAdditionalDisclosuresTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration