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Consolidated Statements Of Cash Flows - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
CASH FLOWS FROM OPERATING ACTIVITIES:      
NET INCOME $ 5,708 $ 6,565 $ 5,294
Reconciliation of net income to net cash provided by operating activities:      
Depreciation, depletion and amortization 5,682 5,165 4,385
Deferred Income Tax Expense (Benefit) 178 276 203
Inventory valuation adjustments 156 86 114
Non-cash compensation expense 148 151 130
Impairment losses and other 285 52 12
(Gains) losses on extinguishments of debt 34 12 (2)
Distributions on unvested awards 52 59 68
Proceeds from Equity Method Investment, Distribution 382 356 353
Income (Loss) from Equity Method Investments [1] (419) (379) (383)
Gain (Loss) on Disposition of Assets 0 (586) 0
Other Noncash Income (Expense) (23) (63) 32
Net change in operating assets and liabilities, net of effects of acquisitions and divestitures (1,976) (196) (451)
Net cash provided by operating activities 10,149 11,506 9,555
INVESTING ACTIVITIES:      
Cash Acquired from Acquisition 0 27 0
Capital expenditures, excluding allowance for equity funds used during construction (6,303) (4,164) (3,134)
Contributions in aid of construction costs 100 73 40
Contributions to unconsolidated affiliates (10) (206) (6)
Distributions from unconsolidated affiliates in excess of cumulative earnings 61 75 63
Other, net 10 12 3
Net cash used in investing activities (8,373) (5,904) (4,325)
FINANCING ACTIVITIES:      
Proceeds from borrowings 32,870 34,150 32,130
Repayments of debt (28,052) (29,409) (31,416)
Repayments of Senior Debt 0 (749) 0
Preferred units issued for cash 1,473 0 0
Distributions to partners (4,725) (4,623) (4,248)
Distributions to noncontrolling interests (1,734) (1,780) (1,691)
Distributions to redeemable noncontrolling interests 56 67 59
Debt issuance costs (119) (147) (45)
Capital contributions from noncontrolling interests 0 2 0
Net cash used in financing activities (816) (5,451) (5,326)
Increase (decrease) in cash and cash equivalents 960 151 (96)
Cash and cash equivalents, beginning of period 312 161 257
Cash and cash equivalents, end of period 1,272 312 161
Proceeds from Contributions from Affiliates 27 638 3
Nustar      
FINANCING ACTIVITIES:      
Payments for Repurchase of Preferred Stock and Preference Stock 0 (784) 0
Other Assets      
INVESTING ACTIVITIES:      
Proceeds from sales of other assets 30 24 38
Sunoco LP West Texas Assets      
INVESTING ACTIVITIES:      
Proceeds from sales of other assets 0 987 0
Crestwood Niobrara LLC      
FINANCING ACTIVITIES:      
Payments for Repurchase of Preferred Stock and Preference Stock 0 (37) 0
Series A, Series C, Series D and Series E preferred units      
FINANCING ACTIVITIES:      
Payments for Repurchase of Preferred Stock and Preference Stock (500) (2,645) 0
Crestwood Acquisition      
INVESTING ACTIVITIES:      
Cash paid for acquisitions, net of cash received 0 0 (288)
Lotus Midstream Acquisition      
INVESTING ACTIVITIES:      
Cash paid for acquisitions, net of cash received 0 0 (930)
WTG Midstream      
INVESTING ACTIVITIES:      
Cash paid for acquisitions, net of cash received 0 (2,174) 0
Sunoco LP acquisitions of terminals      
INVESTING ACTIVITIES:      
Cash paid for acquisitions, net of cash received (253) (224) 0
Edwards Lime Gathering, LLC      
INVESTING ACTIVITIES:      
Cash paid for acquisitions, net of cash received 0 (84) 0
Parkland Acquisition [Member]      
INVESTING ACTIVITIES:      
Cash paid for acquisitions, net of cash received (2,004) 0 0
Other acquisitions [Member]      
INVESTING ACTIVITIES:      
Cash paid for acquisitions, net of cash received $ (4) $ (250) $ (111)
[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.