v3.24.3
Segment Information (Tables)
 9 Months Ended
Sep. 30, 2024
Segment Reporting [Abstract]  
Schedule of Segment Reporting Information, by Segment
The tables below present information about revenues and other income, Segment Adjusted EBITDA, capital expenditures and investments in unconsolidated affiliates for our reportable segments:
Three Months Ended 
September 30,		Nine Months Ended 
September 30,
(In millions)2024202320242023
L&S
Service revenue$1,158 $1,130 $3,367 $3,223 
Rental income223 216 666 638 
Product related revenue5 6 14 14 
Sales-type lease revenue118 129 359 379 
Income from equity method investments80 95 429 248 
Other income33 15 113 47 
Total segment revenues and other income(1)
1,617 1,591 4,948 4,549 
Segment Adjusted EBITDA(2)
1,157 1,091 3,384 3,139 
Capital expenditures112 73 299 251 
Investments in unconsolidated affiliates(3)
10 7 103 23 
G&P
Service revenue617 549 1,785 1,620 
Rental income56 52 165 155 
Product related revenue565 598 1,606 1,629 
Sales-type lease revenue 34 34 102 101 
Income from equity method investments69 64 202 190 
Other income14 24 62 71 
Total segment revenues and other income(1)
1,355 1,321 3,922 3,766 
Segment Adjusted EBITDA(2)
557 505 1,618 1,507 
Capital expenditures189 151 421 417 
Investments in unconsolidated affiliates$22 $6 $83 $67 
(1)    Within the total segment revenues and other income amounts presented above, third party revenues for the L&S segment were $196 million and $779 million for the three and nine months ended September 30, 2024, respectively, and $207 million and $564 million for the three and nine months ended September 30, 2023, respectively. Third party revenues for the G&P segment were $1,285 million and $3,705 million for the three and nine months ended September 30, 2024, respectively, and $1,248 million and $3,553 million for the three and nine months ended September 30, 2023, respectively.
(2)    See below for the reconciliation from Segment Adjusted EBITDA to Net income.
(3)    The nine months ended September 30, 2024 includes a contribution of $92 million to Dakota Access to fund our share of a debt repayment by the joint venture.
Reconciliation of Other Significant Reconciling Items from Segments to Consolidated
The table below provides a reconciliation of Segment Adjusted EBITDA for reportable segments to Net income.
Three Months Ended 
September 30,		Nine Months Ended 
September 30,
(In millions)2024202320242023
Reconciliation to Net income:
L&S Segment Adjusted EBITDA$1,157 $1,091 $3,384 $3,139 
G&P Segment Adjusted EBITDA557 505 1,618 1,507 
Total reportable segments1,714 1,596 5,002 4,646 
Depreciation and amortization(1)
(322)(301)(959)(907)
Net interest and other financial costs(226)(225)(692)(701)
Income from equity method investments149 159 631 438 
Distributions/adjustments related to equity method investments(253)(208)(671)(551)
Adjusted EBITDA attributable to noncontrolling interests11 11 33 31 
Garyville incident response costs(2)
— (63)— (63)
Other(3)
(26)(41)(96)(71)
Net income$1,047 $928 $3,248 $2,822 
(1)    Depreciation and amortization attributable to L&S was $132 million and $393 million for the three and nine months ended September 30, 2024, respectively, and $130 million and $399 million for the three and nine months ended September 30, 2023, respectively. Depreciation and amortization attributable to G&P was $190 million and $566 million for the three and nine months ended September 30, 2024, respectively, and $171 million and $508 million for the three and nine months ended September 30, 2023, respectively.
(2)    In August 2023, a naphtha release and resulting fire occurred at our Garyville Tank Farm resulting in the loss of four storage tanks with a combined shell capacity of 894 thousand barrels. We incurred $63 million of incident response costs during the three and nine months ended September 30, 2023.
(3)    Includes unrealized derivative gain/(loss), equity-based compensation, provision for income taxes, and other miscellaneous items.