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Consolidated Statements Of Operations - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
REVENUES:      
Total revenues $ 85,536 $ 82,671 $ 78,586
COSTS AND EXPENSES:      
Cost of products sold 63,495 61,975 60,541
Operating expenses 5,867 5,164 4,368
Depreciation, depletion and amortization 5,682 5,165 4,385
Selling, general and administrative 1,180 1,177 985
Impairment losses and other 285 52 12
Total costs and expenses 76,509 73,533 70,291
OPERATING INCOME 9,027 9,138 8,295
OTHER INCOME (EXPENSE):      
Interest expense, net of interest capitalized (3,474) (3,125) (2,578)
Equity in earnings of unconsolidated affiliates [1] 419 379 383
Gains (losses) on extinguishments of debt (34) (12) 2
Gain (Loss) from Litigation Settlement 0 0 (627)
Gain (Loss) on Disposition of Assets 0 586 0
Other, net 120 140 122
Income (Loss), Including Portion Attributable to Noncontrolling Interest, before Tax, Total 6,058 7,106 5,597
Income tax expense 350 541 303
NET INCOME 5,708 6,565 5,294
Less: Net income attributable to noncontrolling interests 1,208 1,692 1,299
Less: Net income attributable to redeemable noncontrolling interests 67 59 60
NET INCOME ATTRIBUTABLE TO PARTNERS 4,433 4,814 3,935
Less: General Partner’s interest in net income 4 4 3
Less: Preferred Unitholders’ interest in net income 248 362 463
Preferred Stock Redemption Premium 8 54 0
Limited Partners’ interest in net income $ 4,173 $ 4,394 $ 3,469
NET INCOME PER COMMON UNIT:      
Basic $ 1.22 $ 1.29 $ 1.10
Diluted $ 1.21 $ 1.28 $ 1.09
Refined product sales      
REVENUES:      
Total revenues $ 24,211 $ 22,051 $ 23,389
Crude sales      
REVENUES:      
Total revenues 23,487 25,368 23,492
Natural gas sales      
REVENUES:      
Total revenues 4,655 2,737 3,259
Gathering, transportation and other fees      
REVENUES:      
Total revenues 12,423 12,027 11,428
NGL sales      
REVENUES:      
Total revenues 19,038 19,105 15,957
Other      
REVENUES:      
Total revenues $ 1,722 $ 1,383 $ 1,061
[1] Amounts reflected above exclude Sunoco LP’s earnings from the ET-S Permian and J.C. Nolan joint ventures, which are eliminated in consolidation.