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CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Millions
Sep. 30, 2025
Dec. 31, 2024
CURRENT ASSETS    
Cash and cash equivalents $ 1,181 $ 349
Trade accounts receivable and other receivables, net 3,623 3,679
Inventory 184 261
Current assets of discontinued operations (Note 2) 434 415
Other current assets 155 72
Total current assets 5,577 4,776
PROPERTY AND EQUIPMENT 19,678 18,528
Accumulated depreciation (5,535) (5,082)
Property and equipment, net 14,143 13,446
OTHER ASSETS    
Investments in unconsolidated entities 2,873 2,811
Intangible assets, net 1,570 1,677
Deferred tax asset 1,157 1,220
Linefill 933 904
Long-term operating lease right-of-use assets, net 184 189
Long-term inventory 227 242
Long-term assets of discontinued operations (Note 2) 2,479 2,349
Other long-term assets, net 109 142
Total assets 29,252 27,756
CURRENT LIABILITIES    
Trade accounts payable 3,584 3,647
Short-term debt 1,010 407
Current liabilities of discontinued operations (Note 2) 283 350
Other current liabilities 482 520
Total current liabilities 5,359 4,924
LONG-TERM LIABILITIES    
Senior notes, net 8,371 7,141
Other long-term debt, net 68 70
Long-term operating lease liabilities 188 192
Long-term liabilities of discontinued operations (Note 2) 597 576
Other long-term liabilities and deferred credits 523 537
Total long-term liabilities 9,747 8,516
COMMITMENTS AND CONTINGENCIES (NOTE 10)
PARTNERS’ CAPITAL    
Noncontrolling interests 12,801 12,965
Total partners’ capital 14,146 14,316
Total liabilities and partners’ capital 29,252 27,756
Class A Shares    
PARTNERS’ CAPITAL    
Class A shareholders (197,888,124 and 197,465,699 shares outstanding, respectively) $ 1,345 $ 1,351