v3.25.4
Investments in Unconsolidated Entities (Tables)
12 Months Ended
Dec. 31, 2025
Equity Method Investments and Joint Ventures [Abstract]  
Schedule of Investments in and Summarized Financial Information for Entities Accounted for under the Equity Method of Accounting
Our investments in unconsolidated entities consisted of the following (in millions, except percentage data):

Ownership
Interest at December 31,
2025
Investment Balance
December 31,
Entity (1)
Type of Operation20252024
BridgeTex Pipeline Company, LLC (“BridgeTex”)Crude Oil Pipeline40%$574 $403 
Capline Pipeline Company LLC (“Capline”) (2)
Crude Oil Pipeline54%473 501 
Diamond Pipeline LLC
Crude Oil Pipeline50%432 440 
Eagle Ford Pipeline LLC
Crude Oil Pipeline50%347 364 
Eagle Ford Terminals Corpus Christi LLC
Crude Oil Terminal and Dock50%110 113 
Saddlehorn Pipeline Company, LLC (“Saddlehorn”)
Crude Oil Pipeline40%262 275 
White Cliffs Pipeline, L.L.C.
Crude Oil Pipeline36%109 123 
Wink to Webster Pipeline LLC (“W2W Pipeline”) (3)
Crude Oil Pipeline17%383 393 
Other investments156 199 
Total Investments in Unconsolidated Entities$2,846 $2,811 
(1)The financial results from these entities are reported in our Crude Oil segment.
(2)Although we own more than 50% of Capline, we use the equity method to account for the investment because the other joint venture members still retain substantive participating rights.
(3)Although we own less than 20% of W2W Pipeline, we use the equity method to account for the investment because we believe we have significant influence over the financial and operating decisions of the company.
Combined summarized financial information for all of our unconsolidated entities is shown in the tables below (in millions). None of our unconsolidated entities have noncontrolling interests.

December 31,
20252024
Current assets$441 $475 
Noncurrent assets$6,755 $6,996 
Current liabilities$317 $261 
Noncurrent liabilities$13 $12 

Year Ended December 31,
202520242023
Revenues$1,926 $2,193 $1,667 
Operating income$1,075 $1,373 $921 
Net income$1,094 $1,407 $947