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Leases (Tables)

9 Months Ended

Sep. 30, 2022

Leases [Abstract]

Summary of right of use asset and lease liability balances for operating and finance leases

The following tables summarize the right-of-use (“ROU”) asset and lease liability balances for the Company’s operating and finance leases at September 30, 2022 and December 31, 2021:

			September 30, 2022												December 31, 2021
(in millions)			Operating Leases						Finance Leases						Operating Leases						Finance Leases
ROU assets, net
Pipeline and storage			$	17					$	21					$	17					$	23
Railcars			4						—						6						—
Real estate and other			14						15						14						18
Lease liability
Pipelines and storage			17						33						17						35
Railcars			4						—						6						—
Real estate and other			14						17						14						19

Schedule of lease expense, lease terms, and discount rates

For the three and nine months ended September 30, 2022 and 2021, we recognized lease expense comprised of the following components:

			Three Months Ended September 30,												Nine Months Ended September 30,
(in millions)			2022						2021						2022						2021
Operating lease expense			$	4					$	3					$	12					$	11
Finance lease expense:
Amortization of ROU asset			2						2						5						5
Interest expense on lease liability			1						1						4						4
Short-term lease expense			3						2						7						6

The following outlines the remaining lease terms and discount rates used in the measurement of the Company’s ROU assets and lease liabilities:

			September 30, 2022												December 31, 2021
			Operating Leases						Finance Leases						Operating Leases						Finance Leases
Weighted-average remaining lease term			3.9 years						6.5 years						4.1 years						7.2 years
Weighted-average discount rate			5.1		%				9.0		%				5.4		%				9.0		%

Summary of remaining minimum lease payments for operating leases

The following summarizes the remaining minimum lease payments through maturity of the Company’s lease liabilities at September 30, 2022:

(in millions)			Operating Leases						Finance Leases
Remainder of 2022			$	5					$	3
2023			14						11
2024			10						10
2025			4						10
2026			3						10
Thereafter			4						23
Total lease payments			40						67
Less: imputed interest			(5)						(17)
Total lease liability			$	35					$	50

Summary of remaining minimum lease payments for finance leases

The following summarizes the remaining minimum lease payments through maturity of the Company’s lease liabilities at September 30, 2022:

(in millions)			Operating Leases						Finance Leases
Remainder of 2022			$	5					$	3
2023			14						11
2024			10						10
2025			4						10
2026			3						10
Thereafter			4						23
Total lease payments			40						67
Less: imputed interest			(5)						(17)
Total lease liability			$	35					$	50

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Assets and Liabilities, Lessee [Table Text Block]

+ References

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- Definition

Tabular disclosure of undiscounted cash flows of finance lease liability. Includes, but is not limited to, reconciliation of undiscounted cash flows to finance lease liability recognized in statement of financial position.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 842
-SubTopic 20
-Section 50
-Paragraph 6
-URI https://asc.fasb.org/extlink&oid=128292326&loc=SL77918701-209980

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- Definition

Tabular disclosure of lessee's lease cost. Includes, but is not limited to, interest expense for finance lease, amortization of right-of-use asset for finance lease, operating lease cost, short-term lease cost, variable lease cost and sublease income.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 842
-SubTopic 20
-Section 50
-Paragraph 4
-URI https://asc.fasb.org/extlink&oid=128292326&loc=SL77918686-209980

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- Definition

Tabular disclosure of undiscounted cash flows of lessee's operating lease liability. Includes, but is not limited to, reconciliation of undiscounted cash flows to operating lease liability recognized in statement of financial position.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 842
-SubTopic 20
-Section 50
-Paragraph 6
-URI https://asc.fasb.org/extlink&oid=128292326&loc=SL77918701-209980

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