Intangible Assets and Goodwill

6 Months Ended

Jun. 30, 2026

Intangible Asset, Goodwill and Other [Abstract]

Intangible Assets and Goodwill

Note 6. Intangible Assets and Goodwill

Identifiable Intangible Assets

The following table summarizes our intangible assets by business segment at the dates indicated:

	June 30, 2026						December 31, 2025
	Gross Value		Accumulated Amortization		Carrying Value		Gross Value		Accumulated Amortization		Carrying Value
NGL Pipelines & Services:
Customer relationship intangibles	$	449	$	(294)	$	155	$	449	$	(289)	$	160
Contract-based intangibles	1,054		(199)		855		1,050		(177)		873
Segment total	1,503		(493)		1,010		1,499		(466)		1,033
Crude Oil Pipelines & Services:
Customer relationship intangibles	2,195		(758)		1,437		2,195		(710)		1,485
Contract-based intangibles	283		(280)		3		283		(280)		3
Segment total	2,478		(1,038)		1,440		2,478		(990)		1,488
Natural Gas Pipelines & Services:
Customer relationship intangibles	1,351		(718)		633		1,351		(700)		651
Contract-based intangibles	1,155		(285)		870		1,150		(265)		885
Segment total	2,506		(1,003)		1,503		2,501		(965)		1,536
Petrochemical & Refined Products Services:
Customer relationship intangibles	181		(103)		78		181		(99)		82
Contract-based intangibles	50		(30)		20		50		(30)		20
Segment total	231		(133)		98		231		(129)		102
Total intangible assets	$	6,718	$	(2,667)	$	4,051	$	6,709	$	(2,550)	$	4,159

The following table presents the amortization expense of our intangible assets by business segment for the periods indicated:

	For the Three Months Ended June 30,				For the Six Months Ended June 30,
	2026		2025		2026		2025
NGL Pipelines & Services	$	13	$	12	$	27	$	23
Crude Oil Pipelines & Services	25		21		48		42
Natural Gas Pipelines & Services	19		18		38		36
Petrochemical & Refined Products Services	2		1		4		3
Total	$	59	$	52	$	117	$	104

The following table presents our forecast of amortization expense associated with existing intangible assets for the periods indicated:

Remainder of 2026		2027		2028		2029		2030
$	115	$	227	$	222	$	217	$	217

Goodwill

Goodwill represents the excess of the purchase price of an acquired business over the amounts assigned to assets acquired and liabilities assumed in the transaction. There has been no change in our goodwill amounts since those reported in our 2025 Form 10-K.