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Leases

3 Months Ended

Mar. 31, 2025

Leases [Abstract]

Leases

(5) Leases

Balance Sheet Summary as of March 31, 2025 and December 31, 2024

The following table summarizes the right-of-use (“ROU”) asset and lease liability balances for the Company’s operating and finance leases at March 31, 2025 and December 31, 2024:

			March 31, 2025												December 31, 2024
(in millions)			Operating Leases						Finance Leases						Operating Leases						Finance Leases
ROU assets, net
Equipment, real estate and other			$	31					$	35					$	33					$	36
Pipelines and storage			23						14						25						14
Railcars			16						—						17						—
Lease liability
Equipment, real estate and other			$	30					$	34					$	30					$	33
Pipelines and storage			24						23						25						25
Railcars			15						—						16						—

Lease Expense Summary for the Three Months Ended March 31, 2025 and 2024

We recognize operating lease expense within Direct operating expenses (exclusive of depreciation and amortization) and Cost of materials and other, and finance lease expense within Depreciation and amortization, on a straight-line basis over the

lease term. For the three months ended March 31, 2025 and 2024, we recognized lease expense comprised of the following components:

			Three Months Ended March 31,
(in millions)			2025						2024
Operating lease expense			$	6					$	4
Finance lease expense:
Amortization of ROU asset			2						1
Interest expense on lease liability			1						1
Short-term lease expense			3						3

Leases

(5) Leases

Balance Sheet Summary as of March 31, 2025 and December 31, 2024

The following table summarizes the right-of-use (“ROU”) asset and lease liability balances for the Company’s operating and finance leases at March 31, 2025 and December 31, 2024:

			March 31, 2025												December 31, 2024
(in millions)			Operating Leases						Finance Leases						Operating Leases						Finance Leases
ROU assets, net
Equipment, real estate and other			$	31					$	35					$	33					$	36
Pipelines and storage			23						14						25						14
Railcars			16						—						17						—
Lease liability
Equipment, real estate and other			$	30					$	34					$	30					$	33
Pipelines and storage			24						23						25						25
Railcars			15						—						16						—

Lease Expense Summary for the Three Months Ended March 31, 2025 and 2024

We recognize operating lease expense within Direct operating expenses (exclusive of depreciation and amortization) and Cost of materials and other, and finance lease expense within Depreciation and amortization, on a straight-line basis over the

lease term. For the three months ended March 31, 2025 and 2024, we recognized lease expense comprised of the following components:

			Three Months Ended March 31,
(in millions)			2025						2024
Operating lease expense			$	6					$	4
Finance lease expense:
Amortization of ROU asset			2						1
Interest expense on lease liability			1						1
Short-term lease expense			3						3

X

- References

No definition available.

+ Details

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X

- Definition

The entire disclosure for finance leases of lessee. Includes, but is not limited to, description of lessee's finance lease and maturity analysis of finance lease liability.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 842
-SubTopic 20
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org/842-20/tableOfContent

+ Details

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X

- Definition

The entire disclosure for operating leases of lessee. Includes, but is not limited to, description of operating lease and maturity analysis of operating lease liability.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 842
-SubTopic 20
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org/842-20/tableOfContent

+ Details

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