v3.25.4
Property and Equipment (Tables)
 12 Months Ended
Dec. 31, 2025
Property, Plant and Equipment [Abstract]  
Schedule of Components of Property and Equipment, Net
Property and equipment, net is stated at cost and consisted of the following (in millions):

Estimated Useful
Lives (Years)
December 31,
20252024
Crude oil pipeline systems
10 - 50
$18,428 $14,612 
Crude oil storage and terminal facilities
10 - 50
2,808 2,679 
NGL storage, terminal, fractionation and processing facilities
10 - 50
365 364 
Office property and equipment and rolling stock
2 - 50
373 430 
Construction in progressN/A238 148 
Land and otherN/A324 295 
Property and equipment, gross (1)
22,536 18,528 
Accumulated depreciation(5,676)(5,082)
Property and equipment, net$16,860 $13,446 
(1)We include rights-of-way, which are intangible assets, within property and equipment.