Annual report pursuant to Section 13 and 15(d)

Consolidated Balance Sheets

v3.24.0.1
Consolidated Balance Sheets - USD ($)
$ in Millions
Dec. 31, 2023
Dec. 31, 2022
Current assets    
Cash and cash equivalents $ 575 $ 904
Restricted cash and cash equivalents 56 92
Trade and other receivables, net of current expected credit losses 373 627
Trade receivables—affiliate 278 551
Advances to affiliate 84 177
Inventory 142 160
Current derivative assets [1] 30 24
Margin deposits 0 35
Other current assets, net 43 50
Total current assets 1,581 2,620
Property, plant and equipment, net of accumulated depreciation 16,212 16,725
Operating lease assets 81 89
Debt issuance costs, net of accumulated amortization 16 8
Derivative assets [1] 40 28
Other non-current assets, net $ 172 $ 163
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 $ 18,102 $ 19,633
Current liabilities    
Accounts payable 69 32
Accrued liabilities 866 1,458
Current debt, net of discount and debt issuance costs 300 0
Deferred revenue 117 147
Current derivative liabilities [1] 196 769
Other current liabilities 18 15
Total current liabilities 1,566 2,421
Long-term debt, net of discount and debt issuance costs 15,606 16,198
Operating lease liabilities 71 80
Finance lease liabilities 14 18
Derivative liabilities [1] 1,531 3,024
Other non-current liabilities 98 23
Commitments and contingencies
Partners’ deficit    
Common unitholders’ interest (484.0 million units issued and outstanding at both December 31, 2023 and 2022) 1,038 (1,118)
General partner’s interest (2% interest with 9.9 million units issued and outstanding at both December 31, 2023 and 2022) (1,822) (1,013)
Total partners’ deficit (784) (2,131)
Total liabilities and partners’ deficit 18,102 19,633
Nonrelated Party [Member]    
Current liabilities    
Accrued liabilities 806 1,378
Deferred revenue 114 144
Other non-current liabilities 75 0
Affiliate [Member]    
Current liabilities    
Accrued liabilities 55 74
Deferred revenue 3 3
Other non-current liabilities 23 23
Affiliate [Member] | Service Agreements [Member]    
Current assets    
Advances to affiliate 84 177
Related Party [Member]    
Current liabilities    
Accrued liabilities $ 5 $ 6
[1] Does not include collateral posted by counterparties to us of $4 million as of December 31, 2023, which is included in other current liabilities on our Consolidated Balance Sheets, and collateral posted with counterparties by us of $35 million as of December 31, 2022, which is included in margin deposits on our Consolidated Balance Sheets.