Investments in Unconsolidated Entities (Tables)

12 Months Ended

Dec. 31, 2024

Equity Method Investments and Joint Ventures [Abstract]

Schedule of Investments in and Summarized Financial Information for Entities Accounted for under the Equity Method of Accounting

Our investments in unconsolidated entities consisted of the following (in millions, except percentage data):

		Ownership Interest at December 31, 2024	Investment Balance December 31,
Entity (1)	Type of Operation		2024		2023
BridgeTex Pipeline Company, LLC (“BridgeTex”)	Crude Oil Pipeline	20%	$	403	$	363
Capline Pipeline Company LLC (“Capline”) (2)	Crude Oil Pipeline	54%	501		535
Diamond Pipeline LLC	Crude Oil Pipeline	50%	440		450
Eagle Ford Pipeline LLC	Crude Oil Pipeline	50%	364		370
Eagle Ford Terminals Corpus Christi LLC	Crude Oil Terminal and Dock	50%	113		116
Saddlehorn Pipeline Company, LLC (“Saddlehorn”)	Crude Oil Pipeline	40%	275		192
White Cliffs Pipeline, L.L.C.	Crude Oil Pipeline	36%	123		138
Wink to Webster Pipeline LLC (“W2W Pipeline”) (3)	Crude Oil Pipeline	17%	393		380
Other investments			199		276
Total Investments in Unconsolidated Entities			$	2,811	$	2,820

(1)The financial results from these entities are reported in our Crude Oil segment.

(2)Although we own more than 50% of Capline, we use the equity method to account for the investment because the other joint venture members still retain substantive participating rights.

(3)Although we own less than 20% of W2W Pipeline, we use the equity method to account for the investment because we believe we have significant influence over the financial and operating decisions of the company.

Combined summarized financial information for all of our unconsolidated entities is shown in the tables below (in millions). None of our unconsolidated entities have noncontrolling interests.

	December 31,
	2024		2023
Current assets	$	475	$	528
Noncurrent assets	$	6,996	$	7,194
Current liabilities	$	261	$	476
Noncurrent liabilities	$	12	$	5

	Year Ended December 31,
	2024		2023		2022
Revenues	$	2,193	$	1,667	$	1,726
Operating income	$	1,373	$	921	$	1,004
Net income	$	1,407	$	947	$	1,011