Inventories

9 Months Ended

Sep. 30, 2025

Inventory Disclosure [Abstract]

Inventories

Note 3. Inventories

Our inventory amounts by product type were as follows at the dates indicated:

	September 30, 2025		December 31, 2024
NGLs	$	3,129	$	2,768
Petrochemicals and refined products	603		652
Crude oil	424		523
Natural gas	4		12
Total	$	4,160	$	3,955

Due to fluctuating commodity prices, we recognize lower of cost or net realizable value adjustments when the carrying value of our available-for-sale inventories exceeds their net realizable value. The following table presents our total cost of sales amounts and lower of cost or net realizable value adjustments for the periods indicated:

	For the Three Months Ended September 30,				For the Nine Months Ended September 30,
	2025		2024		2025		2024
Cost of sales (1)	$	8,590	$	10,387	$	28,494	$	31,976
Lower of cost or net realizable value adjustments recognized in cost of sales	4		3		8		5

(1)Cost of sales is a component of “Operating costs and expenses” as presented on our Unaudited Condensed Statements of Consolidated Operations. Fluctuations in these amounts are primarily due to changes in energy commodity prices and sales volumes associated with our marketing activities.