XML 58 R36.htm IDEA: XBRL DOCUMENT v3.25.0.1
Revenues and Accounts Receivable (Tables)
 12 Months Ended
Dec. 31, 2024
Revenue from Contract with Customer [Abstract]  
Schedule of Disaggregation of Revenue
Revenues from Contracts with Customers. The following tables present our revenues from contracts with customers disaggregated by segment and type of activity (in millions):

Year Ended December 31,
202420232022
Crude Oil segment revenues from contracts with customers
Sales$47,036 $45,621 $53,822 
Transportation1,231 1,144 745 
Terminalling, Storage and Other384 381 362 
Total Crude Oil segment revenues from contracts with customers$48,651 $47,146 $54,929 

Year Ended December 31,
202420232022
NGL segment revenues from contracts with customers
Sales$1,761 $1,729 $2,414 
Transportation36 30 30 
Terminalling, Storage and Other75 94 100 
Total NGL segment revenues from contracts with customers$1,872 $1,853 $2,544 
The following tables present the reconciliation of our revenues from contracts with customers (as described above for each segment) to total revenues of reportable segments and total revenues as disclosed in our Consolidated Statements of Operations (in millions):
Year Ended December 31, 2024Crude OilNGLTotal
Revenues from contracts with customers$48,651 $1,872 $50,523 
Other revenues69 (148)(79)
Total revenues of reportable segments$48,720 $1,724 $50,444 
Intersegment revenues elimination(371)
Total revenues$50,073 

Year Ended December 31, 2023Crude OilNGLTotal
Revenues from contracts with customers$47,146 $1,853 $48,999 
Other revenues28 82 110 
Total revenues of reportable segments$47,174 $1,935 $49,109 
Intersegment revenues elimination(397)
Total revenues$48,712 

Year Ended December 31, 2022Crude OilNGLTotal
Revenues from contracts with customers$54,929 $2,544 $57,473 
Other revenues151 217 368 
Total revenues of reportable segments$55,080 $2,761 $57,841 
Intersegment revenues elimination(499)
Total revenues$57,342 
Schedule of Contract with Customer, Counterparty Deficiencies
The following table presents counterparty deficiencies associated with contracts with customers and buy/sell arrangements that include minimum volume commitments for which we had remaining performance obligations and the customers still had the ability to meet their obligations (in millions):

December 31,
Counterparty DeficienciesFinancial Statement Classification20242023
Billed and collectedOther current liabilities$83 $77 
Schedule of Contracts with Customers, Change in Contract Asset and Liability Balance The following table presents the changes in the liability balance associated with contracts with customers (in millions):
Contract Liabilities
Balance at December 31, 2022$229 
Amounts recognized as revenue
(42)
Additions
38 
Other3 
Balance at December 31, 2023$228 
Amounts recognized as revenue(40)
Additions
33 
Other(13)
Balance at December 31, 2024$208 
The following is a reconciliation of trade accounts receivable from revenues from contracts with customers to total Trade accounts receivable and other receivables, net as presented on our Consolidated Balance Sheets (in millions):

December 31,
20242023
Trade accounts receivable arising from revenues from contracts with customers$4,090 $3,999 
Other trade accounts receivables and other receivables (1)
7,413 7,535 
Impact due to contractual rights of offset with counterparties(7,602)(7,774)
Trade accounts receivable and other receivables, net$3,901 $3,760 
(1)    The balance is comprised primarily of accounts receivable associated with buy/sell arrangements that are not within the scope of ASC 606.
Schedule of Remaining Performance Obligations The following table presents the amount of consideration associated with remaining performance obligations for the population of contracts with external customers meeting the presentation requirements as of December 31, 2024 (in millions):
202520262027202820292030 and Thereafter
Pipeline revenues supported by minimum volume commitments and capacity agreements (1)
$380 $250 $213 $165 $88 $482 
Terminalling, storage and other agreement revenues250 213 191 156 124 748 
Total$630 $463 $404 $321 $212 $1,230 
(1)Calculated as volumes committed under contracts multiplied by the current applicable tariff rate.