Quarterly report pursuant to Section 13 or 15(d)

Consolidated Balance Sheets

v3.24.3
Consolidated Balance Sheets - USD ($)
$ in Millions
Sep. 30, 2024
Dec. 31, 2023
Current assets    
Cash and cash equivalents $ 331 $ 575
Restricted cash and cash equivalents 80 56
Trade and other receivables, net of current expected credit losses 239 373
Trade receivables—affiliate 199 278
Advances to affiliate 82 84
Inventory 135 142
Current derivative assets [1] 50 30
Prepaid expenses 53 42
Other current assets, net 17 1
Total current assets 1,186 1,581
Property, plant and equipment, net of accumulated depreciation 15,868 16,212
Operating lease assets 79 81
Derivative assets [1] 64 40
Other non-current assets, net $ 188 $ 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 $ 17,385 $ 18,102
Current liabilities    
Accounts payable 51 69
Accrued liabilities 611 866
Current debt, net of unamortized discount and debt issuance costs 700 300
Deferred revenue 137 117
Current derivative liabilities [1] 222 196
Other current liabilities 8 18
Total current liabilities 1,729 1,566
Long-term debt, net of unamortized discount and debt issuance costs 14,756 15,606
Operating lease liabilities 77 71
Finance lease liabilities 69 14
Derivative liabilities [1] 1,256 1,531
Other non-current liabilities 124 98
Total liabilities 18,011 18,886
Partners’ deficit    
Common unitholders’ interest (484.0 million units issued and outstanding at both September 30, 2024 and December 31, 2023) 1,602 1,038
General partner’s interest (2% interest with 9.9 million units issued and outstanding at both September 30, 2024 and December 31, 2023) (2,228) (1,822)
Total partners’ deficit (626) (784)
Total liabilities and partners’ deficit 17,385 18,102
Nonrelated Party [Member]    
Current assets    
Other current assets, net 17 1
Current liabilities    
Accrued liabilities 564 806
Deferred revenue 136 114
Other non-current liabilities 101 75
Affiliate [Member]    
Current assets    
Other current assets, net 0 0
Current liabilities    
Accrued liabilities 42 55
Deferred revenue 1 3
Other non-current liabilities 23 23
Related Party [Member]    
Current liabilities    
Accrued liabilities $ 5 $ 5
[1] Does not include collateral posted with counterparties by us of $12 million and zero as of September 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 September 30, 2024 and December 31, 2023, respectively, which is included in other current liabilities on our Consolidated Balance Sheets.