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Leases (Tables)

12 Months Ended

Dec. 31, 2023

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 December 31, 2023 and 2022:

			December 31, 2023												December 31, 2022
(in millions)			Operating Leases						Finance Leases						Operating Leases						Finance Leases
ROU assets, net
Pipeline and storage			$	12					$	17					$	16					$	20
Railcars			12						—						11						—
Real estate and other			29						14						13						15
Lease liability
Pipelines and storage			$	12					$	28					$	16					$	32
Railcars			12						—						11						—
Real estate and other			25						16						13						16

Lease Expense, Terms, and Discount Rates

For the years ended December 31, 2023, 2022, and 2021, we recognized lease expense comprised of the following components:

			Year Ended December 31,
(in millions)			2023						2022						2021
Operating lease expense			$	18					$	16					$	15
Finance lease expense:
Amortization of ROU asset			$	6					$	6					$	6
Interest expense on lease liability			4						5						5
Short-term lease expense			$	11					$	11					$	8

The following outlines the remaining lease terms and discount rates used in the measurement of the Company’s ROU assets and lease liabilities at December 31, 2023 and 2022:

			December 31, 2023												December 31, 2022
			Operating Leases						Finance Leases						Operating Leases						Finance Leases
Weighted-average remaining lease term			5.4 years						5.3 years						4.1 years						6.3 years
Weighted-average discount rate			6.7		%				9.0		%				5.2		%				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 December 31, 2023:

(in millions)			Operating Leases						Finance Leases
Year Ended December 31,
2024			$	17					$	11
2025			12						11
2026			10						11
2027			6						10
2028			3						7
Thereafter			12						5
Total lease payments			60						55
Less: imputed interest			(11)						(11)
Total lease liability			$	49					$	44

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 December 31, 2023:

(in millions)			Operating Leases						Finance Leases
Year Ended December 31,
2024			$	17					$	11
2025			12						11
2026			10						11
2027			6						10
2028			3						7
Thereafter			12						5
Total lease payments			60						55
Less: imputed interest			(11)						(11)
Total lease liability			$	49					$	44

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Assets and Liabilities, Lessee [Table Text Block]

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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
-Topic 842
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147478964/842-20-50-6

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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
-Topic 842
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 4
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147478964/842-20-50-4

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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
-Topic 842
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147478964/842-20-50-6

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