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Revenues and Accounts Receivable (Tables)
6 Months Ended
Jun. 30, 2025
Revenue from Contract with Customer [Abstract]  
Schedule of Disaggregation of Revenue
Revenues from Contracts with Customers. The following tables present our revenues from contracts with customers disaggregated by segment and type of activity (in millions):

Three Months Ended
June 30,
Six Months Ended
June 30,
2025202420252024
Crude Oil segment revenues from contracts with customers
Sales$10,228 $12,327 $21,236 $23,513 
Transportation340 295 652 595 
Terminalling, Storage and Other87 95 175 187 
Total Crude Oil segment revenues from contracts with customers$10,655 $12,717 $22,063 $24,295 

Three Months Ended
June 30,
Six Months Ended
June 30,
2025202420252024
NGL segment revenues from contracts with customers
Sales$24 $23 $66 $84 
Terminalling, Storage and Other
Total NGL segment revenues from contracts with customers$26 $25 $67 $86 
The following tables present the reconciliation of our revenues from contracts with customers to total revenues of reportable segments and total revenues as disclosed in our Condensed Consolidated Statements of Operations (in millions):
Three Months Ended June 30, 2025Crude OilNGLTotal
Revenues from contracts with customers$10,655 $26 $10,681 
Other revenues(33)— (33)
Total revenues of reportable segments$10,622 $26 $10,648 
Intersegment revenues elimination(6)
Total revenues$10,642 
Three Months Ended June 30, 2024Crude OilNGLTotal
Revenues from contracts with customers$12,717 $25 $12,742 
Other revenues18 — 18 
Total revenues of reportable segments$12,735 $25 $12,760 
Intersegment revenues elimination(3)
Total revenues$12,757 
Six Months Ended June 30, 2025Crude OilNGLTotal
Revenues from contracts with customers$22,063 $67 $22,130 
Other revenues
(2)— (2)
Total revenues of reportable segments$22,061 $67 $22,128 
Intersegment revenues elimination
(9)
Total revenues$22,119 
Six Months Ended June 30, 2024Crude OilNGLTotal
Revenues from contracts with customers$24,295 $86 $24,381 
Other revenues
22 — 22 
Total revenues of reportable segments$24,317 $86 $24,403 
Intersegment revenues elimination
(7)
Total revenues$24,396 
Schedule of Contract with Customer, Counterparty Deficiencies The following table presents counterparty deficiencies associated with contracts with customers and buy/sell arrangements that include minimum volume commitments for which we had remaining performance obligations and the customers still had the ability to meet their obligations (in millions):
Counterparty DeficienciesFinancial Statement ClassificationJune 30,
2025
December 31,
2024
Billed and collectedOther current liabilities$68 $83 
Schedule of Remaining Performance Obligations The following table presents the amount of consideration associated with remaining performance obligations for the population of contracts with external customers meeting the presentation requirements as of June 30, 2025 (in millions):
Remainder of 2025
2026
2027
2028
2029
2030 and Thereafter
Pipeline revenues supported by minimum volume commitments and capacity agreements (1)
$174 $254 $213 $171 $96 $414 
Terminalling, storage and other agreement revenues115 222 194 143 101 488 
Total$289 $476 $407 $314 $197 $902 
(1)Calculated as volumes committed under contracts multiplied by the current applicable tariff rate.
Schedule of Contracts with Customers, Change in Asset and Liability Balance The following table presents the changes in the liability balance associated with contracts with customers (in millions):
 Contract Liabilities
Balance at December 31, 2024$87 
Amounts recognized as revenue(24)
Additions14 
Balance at June 30, 2025$77 
The following is a reconciliation of trade accounts receivable from revenues from contracts with customers to total trade accounts receivable and other receivables, net as presented on our Condensed Consolidated Balance Sheets (in millions):
June 30,
2025
December 31,
2024
Trade accounts receivable arising from revenues from contracts with customers
$3,792 $3,922 
Other trade accounts receivable and other receivables (1)
8,221 7,339 
Impact due to contractual rights of offset with counterparties(8,451)(7,582)
Trade accounts receivable and other receivables, net$3,562 $3,679 
(1)The balance is comprised primarily of accounts receivable associated with buy/sell arrangements that are not within the scope of ASC 606.