Annual report pursuant to Section 13 and 15(d)

Consolidated Balance Sheets

v3.25.0.1
Consolidated Balance Sheets - USD ($)
$ in Millions
Dec. 31, 2024
Dec. 31, 2023
Current assets    
Cash and cash equivalents $ 270 $ 575
Restricted cash and cash equivalents 109 56
Trade and other receivables, net of current expected credit losses 544 651
Trade receivables, net of current expected credit losses—related party 1 0
Advances to affiliates 101 84
Inventory 151 142
Current derivative assets 84 30
Other current assets, net 65 43
Total current assets 1,325 1,581
Property, plant and equipment, net of accumulated depreciation 15,760 16,212
Operating lease assets 79 81
Derivative assets 98 40
Other non-current assets, net $ 191 $ 188
Accounts Receivable, after Allowance for Credit Loss, Current, Related and Nonrelated Party Status [Extensible Enumeration] Related Party [Member] Related Party [Member]
Other Receivable, after Allowance for Credit Loss, Current, Related and Nonrelated Party Status [Extensible Enumeration] Affiliate [Member] Affiliate [Member]
Total assets $ 17,453 $ 18,102
Current liabilities    
Accounts payable 62 69
Accrued liabilities 906 866
Current debt, net of unamortized discount and debt issuance costs 351 300
Deferred revenue 123 117
Current derivative liabilities 250 196
Other current liabilities 20 18
Total current liabilities 1,712 1,566
Long-term debt, net of unamortized discount and debt issuance costs 14,761 15,606
Derivative liabilities 1,213 1,531
Other non-current liabilities 276 183
Total liabilities 17,962 18,886
Commitments and contingencies (see Note 15)
Partners’ deficit    
Common unitholders’ interest (484.0 million units issued and outstanding at both December 31, 2024 and 2023) 1,821 1,038
General partner’s interest (2% interest with 9.9 million units issued and outstanding at both December 31, 2024 and 2023) (2,330) (1,822)
Total partners’ deficit (509) (784)
Total liabilities and partners’ deficit 17,453 18,102
Nonrelated Party [Member]    
Current assets    
Trade and other receivables, net of current expected credit losses 380 373
Current liabilities    
Accrued liabilities 838 806
Deferred revenue 120 114
Other non-current liabilities 252 160
Affiliate [Member]    
Current assets    
Trade and other receivables, net of current expected credit losses 164 278
Current liabilities    
Accrued liabilities 63 55
Deferred revenue 3 3
Other non-current liabilities 24 23
Related Party [Member]    
Current liabilities    
Accrued liabilities $ 5 $ 5