v3.25.3
Consolidated Statements of Operations - USD ($)
$ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
Revenues [Abstract]        
Revenues $ 6,032 $ 5,751 $ 16,601 $ 17,424
COSTS AND EXPENSES:        
Cost of sales 5,386 5,327 14,733 15,951
Operating expenses 162 151 450 373
General and administrative 51 55 140 225
Lease expense 19 18 54 53
Loss on disposal of assets and impairment charges 3 (2) 4 52
Depreciation, amortization and accretion 159 95 469 216
Total cost of sales and operating expenses 5,780 5,644 15,850 16,870
OPERATING INCOME 252 107 751 554
Other Income and Expenses [Abstract]        
Interest expense, net (131) (116) (375) (274)
Equity in earnings of unconsolidated affiliates 40 31 103 35
Loss on extinguishment of debt (12) 0 (31) (2)
Other, net (1) (5) (2) (7)
INCOME BEFORE INCOME TAXES 148 17 446 904
Income tax expense 11 15 16 171
NET INCOME 137 2 430 733
Less: Net income attributable to noncontrolling interests 0 0 0 8
Less: Net income attributable to Series A Preferred Units 4 0 4 0
NET INCOME ATTRIBUTABLE TO COMMON UNITS AND IDRs $ 133 $ 2 $ 426 $ 725
Net income (loss) per common unit:        
Basic $ 0.64 $ (0.26) $ 2.19 $ 5.44
Diluted 0.64 (0.26) 2.18 5.40
Weighted average common units outstanding:        
CASH DISTRIBUTION PER COMMON UNIT $ 0.9202 $ 0.8756 $ 2.7266 $ 2.6268
Gain (Loss) on Disposition of Assets $ 0 $ 0 $ 0 $ 598
Common Units [Member]        
Weighted average common units outstanding:        
Basic 136,604,533 135,998,435 136,436,142 112,650,388
Diluted 137,346,932 136,844,312 137,135,374 113,466,864
Sales revenue        
Revenues [Abstract]        
Revenues $ 5,685 $ 5,424 $ 15,582 $ 16,673
Service revenue        
Revenues [Abstract]        
Revenues 316 298 929 654
Lease revenue        
Revenues [Abstract]        
Revenues $ 31 $ 29 $ 90 $ 97