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Employee Benefit Plans
 12 Months Ended
Dec. 31, 2025
Retirement Benefits [Abstract]  
Employee Benefit Plans Employee Benefit Plans
Pension and Other Postretirement Benefits
The NuStar Pension Plan (the “Pension Plan”) was a qualified non-contributory defined benefit pension plan that provided certain eligible NuStar employees with retirement income as calculated under a cash balance formula. Under the cash balance formula, benefits were determined based on age, years of vesting service and interest credits, and employees become fully vested in their benefits upon attaining three years of vesting service.
NuStar had also maintained an excess pension plan (the “Excess Pension Plan”), which was a nonqualified deferred compensation plan that provided benefits to a select group of management or other highly compensated employees. Neither the Excess Thrift
Plan nor the Excess Pension Plan was intended to constitute either a qualified plan under the provisions of Section 401 of the Code or a funded plan subject to the Employee Retirement Income Security Act.
The Pension Plan and Excess Pension Plan were collectively referred to as the “Pension Plans” in the tables and discussion below. Other postretirement benefit plans included NuStar’s contributory medical benefits plan for U.S. employees who retired prior to April 1, 2014 and, for employees who retired on or after April 1, 2014, a partial reimbursement for eligible third-party health care premiums. We used December 31 as the measurement date for Sunoco’s pension and other postretirement plans.
Sunoco made no contributions to the Pension Plans subsequent to the NuStar Acquisition, and the Pension Plan was terminated on November 30, 2024.
The changes in the benefit obligation, the changes in fair value of plan assets, the funded status and the amounts recognized in the consolidated balance sheets for Sunoco’s Pension Plans and other postretirement benefit plans as of December 31, 2025 were as follows:
December 31, 2025December 31, 2024
Pension PlansOther Postretirement Benefit PlansPension PlansOther Postretirement Benefit Plans
Change in benefit obligation:
Benefit obligation at beginning of period
$137 $1 $— $— 
NuStar Acquisition— — 152 12 
Service cost— — 1 — 
Interest cost3 — 5 1 
Plan amendments— — — (11)
Benefits paid, net(136)— (36)— 
Actuarial (gain) loss and other(4)— 15 (1)
Benefit obligation at end of period
— 1 137 1 
Change in plan assets:
Fair value of plan assets at beginning of period
$160 $— $— $— 
NuStar Acquisition— — 178 — 
Actual return on plan assets2 — 12 — 
Employer contributions1 — 5 — 
Benefits paid, net(136)— (35)— 
Fair value of plan assets at end of period27 — 160 — 
Amount (overfunded) underfunded at end of period
$(27)$1 $(23)$1 
Amounts recognized in the consolidated balance sheets consist of:
Current assets$27 $— $— $— 
Non-current assets— — 24 — 
Current liabilities— — (1)(1)
Non-current liabilities— (1)— — 
$27 $(1)$23 $(1)
Amounts recognized in accumulated other comprehensive income (pre-tax basis) consist of:
Net actuarial loss$— $— $(9)$— 
Prior service credit— — — 11 
$— $— $(9)$11 
In 2024, the actuarial loss related to the benefit obligation for Sunoco’s pension plans was primarily attributable to the termination of the Pension Plan. The fair value of Sunoco’s plan assets is affected by the return on plan assets resulting primarily from the performance of equity and bond markets during the period.