Quarterly report pursuant to Section 13 or 15(d)

Consolidated Balance Sheets

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Consolidated Balance Sheets - USD ($)
$ in Millions
Jun. 30, 2024
Dec. 31, 2023
Current assets    
Cash and cash equivalents $ 351 $ 575
Restricted cash and cash equivalents 68 56
Trade and other receivables, net of current expected credit losses 286 373
Trade receivables—affiliate 144 278
Advances to affiliate 122 84
Inventory 144 142
Current derivative assets [1] 18 30
Other current assets, net 95 43
Total current assets 1,228 1,581
Property, plant and equipment, net of accumulated depreciation 15,995 16,212
Operating lease assets 80 81
Derivative assets [1] 26 40
Other non-current assets, net $ 186 $ 188
Accounts Receivable, after Allowance for Credit Loss, Current, Related and Nonrelated Party Status [Extensible Enumeration] Affiliated Entity [Member] Affiliated Entity [Member]
Other Receivable, after Allowance for Credit Loss, Current, Related and Nonrelated Party Status [Extensible Enumeration] Affiliated Entity [Member] Affiliated Entity [Member]
Total assets $ 17,515 $ 18,102
Current liabilities    
Accounts payable 51 69
Accrued liabilities 714 866
Current debt, net of unamortized debt issuance costs 798 300
Deferred revenue 78 117
Current derivative liabilities [1] 235 196
Other current liabilities 10 18
Total current liabilities 1,886 1,566
Long-term debt, net of unamortized discount and debt issuance costs 14,803 15,606
Operating lease liabilities 78 71
Finance lease liabilities 70 14
Derivative liabilities [1] 1,319 1,531
Other non-current liabilities 115 98
Total liabilities 18,271 18,886
Partners’ deficit    
Common unitholders’ interest (484.0 million units issued and outstanding at both June 30, 2024 and December 31, 2023) 1,372 1,038
General partner’s interest (2% interest with 9.9 million units issued and outstanding at both June 30, 2024 and December 31, 2023) (2,128) (1,822)
Total partners’ deficit (756) (784)
Total liabilities and partners’ deficit 17,515 18,102
Nonrelated Party [Member]    
Current assets    
Other current assets, net 94 43
Current liabilities    
Accrued liabilities 673 806
Deferred revenue 78 114
Other non-current liabilities 93 75
Affiliate [Member]    
Current assets    
Other current assets, net 1 0
Current liabilities    
Accrued liabilities 37 55
Deferred revenue 0 3
Other non-current liabilities 22 23
Related Party [Member]    
Current liabilities    
Accrued liabilities $ 4 $ 5
[1] Does not include collateral posted with counterparties by us of $27 million and zero as of June 30, 2024 and December 31, 2023, respectively, which is included in other current assets, net on our Consolidated Balance Sheets, and collateral posted by counterparties to us of zero and $4 million as of June 30, 2024 and December 31, 2023, respectively, which is included in other current liabilities on our Consolidated Balance Sheets.