Consolidated Balance Sheets - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Current assets:
Cash and cash equivalents	$ 1,188	$ 3,485
Restricted cash	28	40
Total trade accounts receivable — net	1,982	1,674
Income taxes receivable	8	6
Inventories	970	740
Commodity and other derivative contractual assets	2,587	3,645
Margin deposits related to commodity contracts	406	1,244
Margin deposits posted under affiliate financing agreement	435	439
Prepaid expense and other current assets	515	364
Total current assets	8,119	11,637
Restricted cash	6	14
Investments	4,512	2,035
Property, plant, and equipment — net	18,173	12,432
Goodwill	2,807	2,583
Identifiable intangible assets — net	2,213	1,864
Commodity and other derivative contractual assets	740	577
Accumulated deferred income taxes	9	1,223
Other noncurrent assets	1,191	601
Total assets	37,770	32,966
Current liabilities:
Accounts receivable financing	750	0
Long-term debt due currently	880	2,286
Forward repurchase obligation due currently	703	0
Trade accounts payable	1,510	1,147
Commodity and other derivative contractual liabilities	3,351	5,258
Margin deposits related to commodity contracts	49	45
Accrued taxes other than income	209	203
Accrued interest	193	206
Asset retirement obligations	142	124
Other current liabilities	645	554
Total current liabilities	8,432	9,823
Margin deposits financing with affiliate	435	439
Long-term debt, less amounts due currently	15,418	12,116
Forward repurchase obligation, less amounts due currently	632	0
Commodity and other derivative contractual liabilities	1,367	1,688
Accumulated deferred income taxes	697	1
Tax Receivable Agreement obligation	14	164
Asset retirement obligations	3,936	2,414
Other noncurrent liabilities and deferred credits	1,256	999
Total liabilities	32,187	27,644
Commitments and Contingencies
Preferred stock, shares outstanding (in shares)	2,476,066	2,476,081
Preferred sock, liquidation preference	$ 1,000	$ 1,000
Total equity:
Preferred stock (100,000,000 shares authorized, $1,000 liquidation preference per share, 2,476,066 and 2,476,081 shares outstanding at December 31, 2024 and 2023, respectively)	$ 2,476	$ 2,476
Common stock (par value $0.01 per share, 1,800,000,000 shares authorized, 339,754,307 and 351,457,016 shares outstanding at December 31, 2024 and 2023, respectively)	5	5
Treasury stock, at cost (208,998,299 and 192,178,156 shares at December 31, 2024 and 2023, respectively)	(5,912)	(4,662)
Additional paid-in-capital	9,435	10,095
Accumulated deficit	(454)	(2,613)
Accumulated other comprehensive income	20	6
Stockholders' equity	5,570	5,307
Noncontrolling interest in subsidiary	13	15
Total equity	5,583	5,322
Total liabilities and equity	$ 37,770	$ 32,966