Quarterly report [Sections 13 or 15(d)]

Consolidated Balance Sheets

v3.25.1
Consolidated Balance Sheets - USD ($)
$ in Millions
Mar. 31, 2025
Dec. 31, 2024
Current assets    
Cash and cash equivalents $ 94 $ 270
Restricted cash and cash equivalents 76 109
Trade and other receivables, net of current expected credit losses 670 544
Trade receivables, net of current expected credit losses—related party 0 1
Advances to affiliates 73 101
Inventory 164 151
Current derivative assets 25 84
Other current assets, net 58 65
Total current assets 1,160 1,325
Property, plant and equipment, net of accumulated depreciation 15,638 15,760
Operating lease assets 78 79
Derivative assets 29 98
Other non-current assets, net $ 189 $ 191
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 $ 17,094 $ 17,453
Current liabilities    
Accounts payable 68 62
Accrued liabilities 895 906
Current debt, net of unamortized discount and debt issuance costs 104 351
Deferred revenue 82 123
Current derivative liabilities 154 250
Other current liabilities 10 20
Total current liabilities 1,313 1,712
Long-term debt, net of unamortized discount and debt issuance costs 14,714 14,761
Derivative liabilities 1,177 1,213
Other non-current liabilities 270 276
Total liabilities 17,474 17,962
Partners’ deficit    
Common unitholders’ interest (484.0 million units issued and outstanding at both March 31, 2025 and December 31, 2024) 2,052 1,821
General partner’s interest (2% interest with 9.9 million units issued and outstanding at both March 31, 2025 and December 31, 2024) (2,432) (2,330)
Total partners’ deficit (380) (509)
Total liabilities and partners’ deficit 17,094 17,453
Nonrelated Party [Member]    
Current assets    
Trade and other receivables, net of current expected credit losses 435 380
Current liabilities    
Accrued liabilities 857 838
Deferred revenue 82 120
Other non-current liabilities 247 252
Affiliate [Member]    
Current assets    
Trade and other receivables, net of current expected credit losses 235 164
Current liabilities    
Accrued liabilities 32 63
Deferred revenue 0 3
Other non-current liabilities 23 24
Related Party [Member]    
Current liabilities    
Accrued liabilities $ 6 $ 5