Annual report pursuant to Section 13 and 15(d)

Consolidated Balance Sheets

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Consolidated Balance Sheets - USD ($)
$ in Millions
Dec. 31, 2021
Dec. 31, 2020
Current assets    
Cash and cash equivalents $ 876 $ 1,210
Restricted cash and cash equivalents 98 97
Accounts and other receivables, net of current expected credit losses 580 318
Accounts receivable—affiliate 232 184
Accounts receivable—related party 1 0
Advances to affiliate 141 144
Inventory 176 107
Current derivative assets 21 14
Other current assets 87 61
Total current assets 2,212 2,135
Property, plant and equipment, net of accumulated depreciation 16,830 16,723
Operating lease assets 98 99
Debt issuance costs, net of accumulated amortization 12 17
Derivative assets 33 11
Other non-current assets, net 173 160
Total assets 19,358 19,145
Current liabilities    
Accounts payable 21 12
Accrued liabilities 1,073 658
Accrued liabilities—related party 4 4
Due to affiliates 67 53
Deferred revenue 155 137
Deferred revenue—affiliate 1 1
Current operating lease liabilities 8 7
Current derivative liabilities 16 11
Total current liabilities 1,345 883
Long-term debt, net of premium, discount and debt issuance costs 17,177 17,580
Operating lease liabilities 89 90
Derivative liabilities 11 35
Other non-current liabilities 0 1
Other non-current liabilities—affiliate 18 17
Commitments and Contingencies
Partners’ equity    
Common unitholders’ interest (484.0 million units issued and outstanding at both December 31, 2021 and 2020) 1,024 714
General partner’s interest (2% interest with 9.9 million units issued and outstanding at December 31, 2021 and 2020) (306) (175)
Total partners’ equity 718 539
Total liabilities and partners’ equity $ 19,358 $ 19,145