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Leases (Tables)

12 Months Ended

Dec. 31, 2024

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, 2024 and 2023:

			December 31, 2024												December 31, 2023
(in millions)			Operating Leases						Finance Leases						Operating Leases						Finance Leases
ROU assets, net
Equipment, real estate and other			$	33					$	36					$	29					$	14
Pipeline and storage			25						14						12						17
Railcars			17						—						12						—
Lease liability
Equipment, real estate and other			$	30					$	33					$	25					$	16
Pipelines and storage			25						25						12						28
Railcars			16						—						12						—

Summary of Lease Expense, Terms, and Discount Rates

For the years ended December 31, 2024, 2023, and 2022, we recognized lease expense comprised of the following components:

			Year Ended December 31,
(in millions)			2024						2023						2022
Operating lease expense			$	19					$	18					$	16
Finance lease expense:
Amortization of ROU asset			5						6						6
Interest expense on lease liability			4						4						5
Short-term lease expense			12						11						11

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, 2024 and 2023:

			December 31, 2024												December 31, 2023
			Operating Leases						Finance Leases						Operating Leases						Finance Leases
Weighted-average remaining lease term			5.4 years						8.3 years						5.4 years						5.3 years
Weighted-average discount rate			7.9		%				10.2		%				6.7		%				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, 2024:

(in millions)			Operating Leases						Finance Leases
Year Ended December 31,
2025			$	21					$	14
2026			19						14
2027			15						13
2028			10						11
2029			8						8
Thereafter			15						29
Total lease payments			88						89
Less: imputed interest			(17)						(31)
Total lease liability			$	71					$	58

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, 2024:

(in millions)			Operating Leases						Finance Leases
Year Ended December 31,
2025			$	21					$	14
2026			19						14
2027			15						13
2028			10						11
2029			8						8
Thereafter			15						29
Total lease payments			88						89
Less: imputed interest			(17)						(31)
Total lease liability			$	71					$	58

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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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- 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
-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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