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Inventories, net

12 Months Ended

Dec. 31, 2024

Inventory Disclosure [Abstract]

Inventories, net

Inventories, net

Fuel inventories are stated at the lower of cost or market using the LIFO method. As of December 31, 2024 and 2023, the Partnership’s fuel inventory balance included lower of cost or market reserves of $316 million and $230 million, respectively. For the years ended December 31, 2024, 2023 and 2022, the Partnership’s consolidated statements of operations and comprehensive income did not include any material amounts of income from the liquidation of LIFO fuel inventory. For the years ended December 31, 2024 and 2023, the Partnership’s cost of sales included unfavorable inventory adjustments of $86 million, and $114 million, respectively, which decreased net income. For the year ended December 31, 2022, the Partnership’s cost of sales included favorable inventory adjustments of $5 million, which increased net income.

Inventories, net consisted of the following:

			December 31, 2024						December 31, 2023
Fuel			$	1,054					$	876
Other			14						13
Inventories, net			$	1,068					$	889

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- References

No definition available.

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- Definition

The entire disclosure for inventory. Includes, but is not limited to, the basis of stating inventory, the method of determining inventory cost, the classes of inventory, and the nature of the cost elements included in inventory.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 330
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org/330/tableOfContent

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