Quarterly report [Sections 13 or 15(d)]

Consolidated Balance Sheets

v3.25.3
Consolidated Balance Sheets - USD ($)
$ in Millions
Sep. 30, 2025
Dec. 31, 2024
Sep. 30, 2024
Current assets      
Cash and cash equivalents $ 121 $ 270  
Restricted cash and cash equivalents 43 109  
Trade and other receivables, net of current expected credit losses 569 544  
Trade receivables, net of current expected credit losses—related party   1 $ 0
Advances to affiliates 150 101  
Inventory 147 151  
Current derivative assets 16 84  
Prepaid expenses 52 42  
Other current assets, net 21 23  
Total current assets 1,119 1,325  
Property, plant and equipment, net of accumulated depreciation 15,399 15,760  
Operating lease assets 77 79  
Derivative assets 14 98  
Other non-current assets, net $ 225 $ 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] Affiliated Entity [Member] Affiliated Entity [Member]  
Total assets $ 16,834 $ 17,453  
Current liabilities      
Accounts payable 58 62  
Accrued liabilities 732 906  
Current debt, net of unamortized discount and debt issuance costs 605 351  
Deferred revenue 150 123  
Current derivative liabilities 139 250  
Other current liabilities 13 20  
Total current liabilities 1,697 1,712  
Long-term debt, net of unamortized discount and debt issuance costs 14,156 14,761  
Derivative liabilities 1,069 1,213  
Other non-current liabilities 260 276  
Total liabilities 17,182 17,962  
Partners’ deficit      
Common unitholders’ interest (484.0 million units issued and outstanding at both September 30, 2025 and December 31, 2024) 2,296 1,821  
General partner’s interest (2% interest with 9.9 million units issued and outstanding at both September 30, 2025 and December 31, 2024) (2,644) (2,330)  
Total partners’ deficit (348) (509) $ (626)
Total liabilities and partners’ deficit 16,834 17,453  
Nonrelated Party [Member]      
Current assets      
Trade and other receivables, net of current expected credit losses 359 380  
Other current assets, net 21 23  
Current liabilities      
Accrued liabilities 691 838  
Deferred revenue 148 120  
Other non-current liabilities 237 252  
Affiliate [Member]      
Current assets      
Trade and other receivables, net of current expected credit losses 210 164  
Other current assets, net 0 0  
Current liabilities      
Accrued liabilities 41 63  
Deferred revenue 2 3  
Other non-current liabilities 23 24  
Related Party [Member]      
Current liabilities      
Accrued liabilities $ 0 $ 5