Consolidated Balance Sheet - USD ($) $ in Millions	Jun. 30, 2020	Dec. 31, 2019
Assets
Cash and cash equivalents	$ 7	$ 286
Accounts receivable—related parties	93	101
Accounts receivable—third parties	4	4
Materials and supplies	14	13
Prepaid expenses and other current assets	10	10
Total current assets	128	414
Equity investments	3,340	2,961
Net properties, plants and equipment	3,500	3,349
Goodwill	185	185
Other assets	50	52
Total Assets	7,203	6,961
Liabilities
Accounts payable—related parties	18	19
Accounts payable—third parties	88	84
Accrued interest	34	42
Deferred revenues	24	16
Short-term debt	265	25
Accrued property and other taxes	22	10
Other current liabilities	4	3
Total current liabilities	455	199
Long-term debt	3,442	3,491
Obligation from equity interest transfer	0	343
Other liabilities	93	94
Total Liabilities	3,990	4,127
Equity
Accumulated other comprehensive loss	(1)	(1)
Total unitholders’ equity	2,908	2,834
Noncontrolling interest	305	0
Total Equity	3,213	2,834
Total Liabilities and Equity	7,203	6,961
Public | Preferred Units
Equity
Preferred unitholders (2020 and 2019—13,819,791 units issued and outstanding)	746	746
Total Equity	746	746
Public | Common Units
Equity
Common unitholders	2,735	2,717
Total Equity	2,735	2,717
Non-public | Common Units | Phillips 66
Equity
Common unitholders	(572)	(628)
Total Equity	$ (572)	$ (628)