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Leases | 9 Months Ended
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Sep. 30, 2025
Leases [Abstract] |
Leases | (5) Leases Balance Sheet Summary as of September 30, 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 September 30, 2025 and December 31, 2024:
| September 30, 2025 |  | December 31, 2024
(in millions) | Operating Leases |  | Finance Leases |  | Operating Leases |  | Finance Leases
ROU assets, net |  |  |  |  |  |  |
Equipment, real estate and other | $ | 29 |  |  | $ | 38 |  |  | $ | 33 |  |  | $ | 36 |
Pipelines and storage | 22 |  |  | 23 |  |  | 25 |  |  | 14 |
Railcars | 16 |  |  | — |  |  | 17 |  |  | — |
Lease liability |  |  |  |  |  |  |
Equipment, real estate and other | $ | 26 |  |  | $ | 36 |  |  | $ | 30 |  |  | $ | 33 |
Pipelines and storage | 22 |  |  | 32 |  |  | 25 |  |  | 25 |
Railcars | 16 |  |  | — |  |  | 16 |  |  | — |
Lease Expense Summary for the Three and Nine Months Ended September 30, 2025 and 2024 We recognize short-term and 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 and nine months ended September 30, 2025 and 2024, we recognized lease expense comprised of the following components:
| Three Months Ended September 30, |  | Nine Months Ended September 30,
(in millions) | 2025 |  | 2024 |  | 2025 |  | 2024
Operating lease expense | $ | 5 |  |  | $ | 5 |  |  | $ | 16 |  |  | $ | 14 |
Finance lease expense: |  |  |  |  |  |  |
Amortization of ROU asset | 2 |  |  | 1 |  |  | 6 |  |  | 4 |
Interest expense on lease liability | 2 |  |  | 1 |  |  | 4 |  |  | 3 |
Short-term lease expense | 4 |  |  | 3 |  |  | 10 |  |  | 9 |
Leases | (5) Leases Balance Sheet Summary as of September 30, 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 September 30, 2025 and December 31, 2024:
| September 30, 2025 |  | December 31, 2024
(in millions) | Operating Leases |  | Finance Leases |  | Operating Leases |  | Finance Leases
ROU assets, net |  |  |  |  |  |  |
Equipment, real estate and other | $ | 29 |  |  | $ | 38 |  |  | $ | 33 |  |  | $ | 36 |
Pipelines and storage | 22 |  |  | 23 |  |  | 25 |  |  | 14 |
Railcars | 16 |  |  | — |  |  | 17 |  |  | — |
Lease liability |  |  |  |  |  |  |
Equipment, real estate and other | $ | 26 |  |  | $ | 36 |  |  | $ | 30 |  |  | $ | 33 |
Pipelines and storage | 22 |  |  | 32 |  |  | 25 |  |  | 25 |
Railcars | 16 |  |  | — |  |  | 16 |  |  | — |
Lease Expense Summary for the Three and Nine Months Ended September 30, 2025 and 2024 We recognize short-term and 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 and nine months ended September 30, 2025 and 2024, we recognized lease expense comprised of the following components:
| Three Months Ended September 30, |  | Nine Months Ended September 30,
(in millions) | 2025 |  | 2024 |  | 2025 |  | 2024
Operating lease expense | $ | 5 |  |  | $ | 5 |  |  | $ | 16 |  |  | $ | 14 |
Finance lease expense: |  |  |  |  |  |  |
Amortization of ROU asset | 2 |  |  | 1 |  |  | 6 |  |  | 4 |
Interest expense on lease liability | 2 |  |  | 1 |  |  | 4 |  |  | 3 |
Short-term lease expense | 4 |  |  | 3 |  |  | 10 |  |  | 9 |

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- 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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- 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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