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CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Millions
Sep. 30, 2025
Dec. 31, 2024
CURRENT ASSETS    
Cash and cash equivalents $ 1,180 $ 348
Trade accounts receivable and other receivables, net 3,623 3,679
Inventory 184 261
Current assets of discontinued operations (Note 2) 434 415
Other current assets 162 99
Total current assets 5,583 4,802
PROPERTY AND EQUIPMENT 19,678 18,528
Accumulated depreciation (5,535) (5,082)
Property and equipment, net 14,143 13,446
OTHER ASSETS    
Investments in unconsolidated entities 2,873 2,811
Intangible assets, net 1,570 1,677
Linefill 933 904
Long-term operating lease right-of-use assets, net 184 189
Long-term inventory 227 242
Long-term assets of discontinued operations (Note 2) 2,479 2,349
Other long-term assets, net 109 142
Total assets 28,101 26,562
CURRENT LIABILITIES    
Trade accounts payable 3,584 3,647
Short-term debt 1,010 407
Current liabilities of discontinued operations (Note 2) 283 350
Other current liabilities 488 546
Total current liabilities 5,365 4,950
LONG-TERM LIABILITIES    
Senior notes, net 8,371 7,141
Other long-term debt, net 68 70
Long-term operating lease liabilities 188 192
Long-term liabilities of discontinued operations (Note 2) 597 576
Other long-term liabilities and deferred credits 523 537
Total long-term liabilities 9,747 8,516
COMMITMENTS AND CONTINGENCIES (NOTE 10)
PARTNERS’ CAPITAL    
Total partners’ capital excluding noncontrolling interests 9,763 9,813
Noncontrolling interests 3,226 3,283
Total partners’ capital 12,989 13,096
Total liabilities and partners’ capital 28,101 26,562
Series A Preferred Units    
PARTNERS’ CAPITAL    
Partners' capital 1,247 1,514
Series B Preferred Units    
PARTNERS’ CAPITAL    
Partners' capital 787 787
Common Units    
PARTNERS’ CAPITAL    
Partners' capital $ 7,729 $ 7,512