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Consolidated Statements Of Operations - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
REVENUES:    
Total revenues $ 21,629 $ 18,995 Close
COSTS AND EXPENSES:    
Cost of products sold 16,597 14,610
Operating expenses 1,138 1,025
Depreciation, Depletion and Amortization 1,254 1,059
Selling, general and administrative 260 238
Impairment losses 0 1
Total costs and expenses 19,249 16,933 Close
OPERATING INCOME 2,380 2,062 Close
OTHER INCOME (EXPENSE):     Close
Interest expense, net of interest capitalized (728) (619) Close
Equity in earnings of unconsolidated affiliates 98 88 Close
Loss on extinguishment of debt (5) 0 Close
Gains (losses) on interest rate derivatives 9 (20) Close
Other, net 27 7 Close
Total Other Income Expenses -599.0 -544.0 0 0 0 Close
INCOME BEFORE INCOME TAX EXPENSE 1,781 1,518 CloseClose
Income tax expense 89 71 Close
Net income 1,692 1,447 Close
Less: Net income attributable to noncontrolling interests 436 321
Less: Net income attributable to redeemable noncontrolling interests 16 13
NET INCOME ATTRIBUTABLE TO PARTNERS 1,240 1,113
Less: General Partner’s interest in net income (1) (1)
Preferred Unitholders’ interest in net income 129 109
Preferred Stock Redemption Premium 21 0
Common Unitholders’ interest in net income $ 1,089 $ 1,003
NET INCOME PER COMMON UNIT:    
Basic $ 0.32 $ 0.32
Diluted $ 0.32 $ 0.32
Refined product sales    
REVENUES:    
Total revenues $ 5,513 $ 5,454
NGL sales    
REVENUES:    
Total revenues 5,251 4,160
Natural gas sales    
REVENUES:    
Total revenues 855 899
Other    
REVENUES:    
Total revenues 265 227
Crude sales    
REVENUES:    
Total revenues 6,844 5,478
Gathering, transportation and other fees    
REVENUES:    
Total revenues $ 2,901 $ 2,777