SUNOCO LP, 10-Q filed on 8/7/2025
Quarterly Report
v3.25.2
Document And Entity Information - shares
 6 Months Ended
Jun. 30, 2025
Aug. 01, 2025
Document Information [Line Items]    
Document Type 10-Q  
Document Quarterly Report true  
Document Period End Date Jun. 30, 2025  
Document Transition Report false  
Entity File Number 001-35653  
Entity Registrant Name SUNOCO LP  
Entity Incorporation, State or Country Code DE  
Entity Tax Identification Number 30-0740483  
Entity Address, Address Line One 8111 Westchester Drive  
Entity Address, Address Line Two Suite 400  
Entity Address, City or Town Dallas  
Entity Address, State or Province TX  
Entity Address, Postal Zip Code 75225  
City Area Code 214  
Local Phone Number 981-0700  
Title of 12(b) Security Common Units Representing Limited Partner Interests  
Trading Symbol SUN  
Security Exchange Name NYSE  
Entity Current Reporting Status Yes  
Entity Interactive Data Current Yes  
Entity Filer Category Large Accelerated Filer  
Entity Small Business false  
Entity Emerging Growth Company false  
Entity Shell Company false  
Entity Central Index Key 0001552275  
Current Fiscal Year End Date --12-31  
Document Fiscal Year Focus 2025  
Document Fiscal Period Focus Q2  
Amendment Flag false  
Common Units [Member]    
Document Information [Line Items]    
Entity Partnership Units Outstanding   136,604,563
Common Class C [Member]    
Document Information [Line Items]    
Entity Partnership Units Outstanding   16,410,780
v3.25.2
Consolidated Balance Sheets - USD ($)
$ in Millions
Jun. 30, 2025
Dec. 31, 2024
Current assets:    
Cash and cash equivalents $ 116 $ 94
Accounts receivable, net 1,037 1,162
Inventories, net 1,179 1,068
Other current assets 150 141
Total current assets 2,482 2,465
Property, plant and equipment 9,205 8,914
Accumulated depreciation (1,534) (1,240)
Property, plant and equipment, net 7,671 7,674
Other assets:    
Operating lease right-of-use assets, net 502 477
Goodwill 1,477 1,477
Intangible assets, net 533 547
Other non-current assets 486 400
Investments in unconsolidated affiliates 1,277 1,335
Total assets 14,428 14,375
Current liabilities:    
Accounts payable 927 1,255
Accounts Payable, Other, Current 221 199
Accrued expenses and other current liabilities 448 457
Operating lease current liabilities 32 34
Current maturities of long-term debt 2 2
Total current liabilities 1,630 1,947
Operating lease non-current liabilities 507 479
Long-term debt, net 7,803 7,484
Deferred tax liabilities 164 157
Other non-current liabilities 150 158
Total liabilities 10,331 10,307
Commitments and contingencies (Note 12)
Common unitholders 4,099 4,066
Equity:    
Total equity 4,097 4,068
Accumulated other comprehensive income (loss) (2) 2
Total liabilities and equity 14,428 14,375
Related Party    
Current liabilities:    
Advances from affiliates 77 82
Common Units [Member]    
Current liabilities:    
Common unitholders 4,099 4,066
Class C Units [Member]    
Current liabilities:    
Common unitholders $ 0 $ 0
v3.25.2
Consolidated Balance Sheets (Parenthetical)
Jun. 30, 2025
shares
Common Units [Member]  
Equity:  
Limited Partners' Capital Account, Units Outstanding 136,603,182
Class C Units [Member]  
Equity:  
Limited Partners' Capital Account, Units Issued 16,410,780
v3.25.2
Consolidated Statements of Operations - USD ($)
$ in Millions
 3 Months Ended 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
Revenues [Abstract]        
Revenues $ 5,390 $ 6,174 $ 10,569 $ 11,673
COSTS AND EXPENSES:        
Cost of sales 4,821 5,609 9,347 10,624
Operating expenses 50 134 89 170
General and administrative 145 134 288 222
Lease expense 19 17 35 35
Loss on disposal of assets and impairment charges (2) 52 1 54
Depreciation, amortization and accretion 154 78 310 121
Total cost of sales and operating expenses 5,187 6,024 10,070 11,226
OPERATING INCOME 203 150 499 447
Other Income and Expenses [Abstract]        
Interest expense, net (123) (95) (244) (158)
Equity in earnings of unconsolidated affiliates 31 2 63 4
Loss on extinguishment of debt (17) (2) (19) (2)
Other, net (1) (3) (1) (2)
INCOME BEFORE INCOME TAXES 93 650 298 887
Income tax expense 7 149 5 156
NET INCOME 86 501 293 731
Less: Net income attributable to noncontrolling interests 0 8 0 8
NET INCOME $ 86 $ 493 $ 293 $ 723
Net income (loss) per common unit:        
Basic $ 0.33 $ 3.88 $ 1.55 $ 6.43
Diluted 0.33 3.85 1.54 6.37
Weighted average common units outstanding:        
CASH DISTRIBUTION PER COMMON UNIT $ 0.9088 $ 0.8756 $ 1.8064 $ 1.7512
Gain (Loss) on Disposition of Assets $ 0 $ 598 $ 0 $ 598
Common Units [Member]        
Weighted average common units outstanding:        
Basic 136,432,676 117,271,408 136,350,550 100,848,078
Diluted 137,146,019 118,054,858 137,040,946 101,657,076
Sales revenue        
Revenues [Abstract]        
Revenues $ 5,046 $ 5,851 $ 9,897 $ 11,249
Service revenue        
Revenues [Abstract]        
Revenues 314 293 613 356
Lease revenue        
Revenues [Abstract]        
Revenues $ 30 $ 30 $ 59 $ 68
v3.25.2
Statement of Comprehensive Income (Statement) - USD ($)
$ in Millions
 3 Months Ended 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
Statement of Comprehensive Income [Abstract]        
NET INCOME $ 86 $ 501 $ 293 $ 731
Other comprehensive income (loss), net of tax        
Foreign currency translation adjustment 2 (1) 3 (1)
Other Comprehensive Income (Loss), Defined Benefit Plan, Gain (Loss), Reclassification Adjustment from AOCI, after Tax (1) (1) (1) (1)
Other Comprehensive Income (Loss), Net of Tax, Total 1 (2) 2 (2)
Comprehensive income $ 87 $ 499 $ 295 $ 729
v3.25.2
Consolidated Statement of Equity - USD ($)
$ in Millions
Total
NuStar Acquisition
Common Unitholders
Accumulated Other Comprehensive Income
Accumulated Other Comprehensive Income
NuStar Acquisition
Noncontrolling Interest
Accumulated other comprehensive income (loss) $ 0          
Common unitholders 978          
Beginning balance at Dec. 31, 2023 978         $ 0
Cash distributions to unitholders, including incentive distributions 91   $ 91 $ 0   0
Non-cash unit-based compensation 4   4 0   0
Ending balance at Mar. 31, 2024 1,121         0
NET INCOME 230   230 0   0
Beginning balance at Dec. 31, 2023 978         0
Other comprehensive income, net of tax (2)          
Units issued in acquisition   $ 2,850        
Net income 723          
Ending balance at Jun. 30, 2024 4,330         0
NET INCOME 731          
Accumulated other comprehensive income (loss) 0          
Common unitholders 1,121          
Beginning balance at Mar. 31, 2024 1,121         0
Cash distributions to unitholders, including incentive distributions 166   158 0   8
Non-cash unit-based compensation 4   4 0   0
Other comprehensive income, net of tax (2)   0 (2)   0
Units issued in acquisition 3,651   2,850 0   801
Partners' Capital Account, Redemptions (784)   17 0   (801)
Other 5   (3) 8   0
Net income 493          
Ending balance at Jun. 30, 2024 4,330         0
NET INCOME 501   493 0   $ 8
Accumulated other comprehensive income (loss) 6          
Common unitholders 4,324          
Accumulated other comprehensive income (loss) 2          
Common unitholders 4,066          
Beginning balance at Dec. 31, 2024 4,068          
Cash distributions to unitholders, including incentive distributions 159   159 0    
Non-cash unit-based compensation 4   4 0    
Other comprehensive income, net of tax 1   0 1    
Units issued in acquisition 5   5 0    
Other 30   36 (6)    
Net income 207   207 0    
Ending balance at Mar. 31, 2025 4,156          
Beginning balance at Dec. 31, 2024 4,068          
Other comprehensive income, net of tax 2          
Units issued in acquisition   0        
Net income 293          
Ending balance at Jun. 30, 2025 4,097          
NET INCOME 293          
Accumulated other comprehensive income (loss) (3)          
Common unitholders 4,159          
Beginning balance at Mar. 31, 2025 4,156          
Cash distributions to unitholders, including incentive distributions 163   163 0    
Non-cash unit-based compensation 5   5 0    
Other comprehensive income, net of tax 1   0 1    
Units issued in acquisition   $ 13     $ 0  
Other (1)   (1) 0    
Net income 86          
Ending balance at Jun. 30, 2025 4,097          
NET INCOME 86   $ 86 $ 0    
Accumulated other comprehensive income (loss) (2)          
Common unitholders $ 4,099          
v3.25.2
Consolidated Statements of Cash Flows - USD ($)
$ in Millions
 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
OPERATING ACTIVITIES:    
NET INCOME $ 293 $ 731
Reconciliation of net income to net cash provided by operating activities:    
Depreciation, amortization and accretion 310 121
Amortization of deferred financing fees 8 6
Loss on disposal of assets and impairment charges 1 54
Loss on extinguishment of debt 19 2
Gain (Loss) on Disposition of Assets 0 (598)
Other non-cash, net 28 3
Non-cash unit-based compensation expense 9 8
Deferred income tax benefit 6 64
Inventory valuation adjustments (21) (98)
Equity in earnings of unconsolidated affiliates (63) (4)
Distributions from unconsolidated affiliates 117 0
Changes in operating assets and liabilities, net of acquisitions:    
Accounts receivable, net 125 (68)
Accounts receivable from affiliates 0 (13)
Inventories, net (90) (53)
Other assets (41) 61
Accounts payable (328) 205
Accounts payable to affiliates 19 (56)
Accrued expenses and other current liabilities (9) 65
Other non-current liabilities 28 (86)
Net cash provided by operating activities 399 216
INVESTING ACTIVITIES:    
Capital expenditures (261) (111)
Contributions to unconsolidated affiliates (40) 0
Distributions from unconsolidated affiliates in excess of cumulative earnings 47 4
Proceeds from Sales of Assets, Investing Activities 0 990
Other 8 2
Net cash (used in) provided by investing activities (350) 727
FINANCING ACTIVITIES:    
Senior notes borrowings 1,000 1,500
Repayments of Senior Debt 620 405
Senior notes repayments (75) 0
Credit Facility borrowings 1,536 1,241
Credit Facility repayments (1,533) (2,022)
Loan origination costs (13) (19)
Payments for Repurchase of Redeemable Preferred Stock 0 (784)
Cash distributions to unitholders, including incentive distributions (322) (249)
Cash distributions to noncontrolling interests 0 (8)
Net cash used in financing activities (27) (746)
Cash and cash equivalents, beginning of period 94 29
Cash and cash equivalents, end of period 116 226
Net increase in cash and cash equivalents 22 197
Non-cash investing and financing activities:    
Lease assets obtained in exchange for new lease liabilities 35 1
NuStar Acquisition    
INVESTING ACTIVITIES:    
Cash paid for acquisitions 0 (27)
Non-cash investing and financing activities:    
Units issued in acquisition 0 2,850
Other acquisition    
Non-cash investing and financing activities:    
Units issued in acquisition 18 0
Other Acquisitions    
INVESTING ACTIVITIES:    
Cash paid for acquisitions $ (104) $ (185)
v3.25.2
Organization and Principles of Consolidation
 6 Months Ended
Jun. 30, 2025
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Organization and Principles of Consolidation Organization and Principles of Consolidation
As used in this document, the terms “Partnership,” “Sunoco,” “we,” “us” or “our” should be understood to refer to Sunoco LP and its consolidated subsidiaries, unless the context clearly indicates otherwise.
We are a Delaware master limited partnership. We are managed by our General Partner, which is owned by Energy Transfer. As of June 30, 2025, Energy Transfer owned 100% of the limited liability company interests in our General Partner, 28,463,967 of our common units and all of our IDRs.
The consolidated financial statements include Sunoco LP, a publicly traded Delaware limited partnership, and its wholly owned subsidiaries. In the opinion of the Partnership’s management, such financial information reflects all adjustments necessary for a fair presentation of the financial position and the results of operations for such interim periods in accordance with GAAP. All significant intercompany accounts and transactions have been eliminated in consolidation.
The operations of certain pipelines and terminals in which we own an undivided interest are proportionately consolidated in the accompanying consolidated financial statements.
v3.25.2
Summary of Significant Accounting Policies
 6 Months Ended
Jun. 30, 2025
Accounting Policies [Abstract]  
Significant Accounting Policies [Text Block] Summary of Significant Accounting Policies
Interim Financial Statements
The accompanying interim consolidated financial statements have been prepared in accordance with GAAP. Pursuant to Regulation S-X, certain information and disclosures normally included in the annual consolidated financial statements have been condensed or omitted. The interim consolidated financial statements and notes included herein should be read in conjunction with the consolidated financial statements and notes included in our Annual Report on Form 10-K for the year ended December 31, 2024 filed with the SEC on February 14, 2025.
Significant Accounting Policies
As of June 30, 2025, there have been no changes in the Partnership's significant accounting policies from those described in our Annual Report on Form 10-K for the year ended December 31, 2024 filed with the SEC on February 14, 2025.
Motor Fuel and Sales Taxes
Certain motor fuel and sales taxes are collected from customers and remitted to governmental agencies either directly by the Partnership or through suppliers. The Partnership’s accounting policy for wholesale direct sales to dealers, distributors and commercial customers is to exclude the collected motor fuel tax from sales and cost of sales.
For retail locations where the Partnership holds inventory, including commission agent locations, motor fuel sales and motor fuel cost of sales include motor fuel taxes. Such amounts were $35 million and $41 million for the three months ended June 30, 2025 and 2024, respectively, and $64 million and $100 million for the six months ended June 30, 2025 and 2024, respectively. Merchandise sales and cost of merchandise sales are reported net of sales tax in our consolidated statements of operations.
v3.25.2
Acquisitions, Divestitures and Other Transactions
 6 Months Ended
Jun. 30, 2025
Business Combination, Asset Acquisition, Transaction between Entities under Common Control, and Joint Venture Formation [Abstract]  
Mergers, Acquisitions and Dispositions Disclosures Acquisitions
Parkland Acquisition
On May 5, 2025, Sunoco and Parkland announced that the parties have entered into a definitive agreement whereby Sunoco plans to acquire all outstanding shares of Parkland in a cash and equity transaction (the "Parkland Acquisition") valued at approximately $9.1 billion as of the announcement date, including assumed debt.
As part of the transaction, Sunoco intends to repurpose and rename an existing subsidiary as SunocoCorp LLC (“SunocoCorp”) which will become a publicly traded entity classified as a corporation for U.S. federal income tax purposes, with SunocoCorp common units being traded on the New York Stock Exchange. SunocoCorp is expected to hold limited partnership units of Sunoco that are generally economically equivalent to Sunoco’s publicly traded common units on the basis of one Sunoco common unit for each outstanding SunocoCorp unit. For a period of two years following closing of the transaction, Sunoco will ensure that SunocoCorp unitholders receive distributions on a per unit basis that are equivalent to the per unit distributions to Sunoco unitholders.
Under the terms of the agreement, Parkland shareholders would receive 0.295 SunocoCorp units and C$19.80 for each Parkland share. Parkland shareholders could elect, in the alternative, to receive C$44.00 per Parkland share in cash or 0.536 SunocoCorp units for each Parkland share, subject to proration to ensure that the aggregate consideration payable in connection with the
transaction does not exceed C$19.80 in cash per Parkland share outstanding as of immediately before close and 0.295 SunocoCorp units per Parkland share outstanding as of immediately before close.
The transaction is currently expected to close in the fourth quarter of 2025 upon the satisfaction of closing conditions, including customary regulatory and stock exchange listing approvals.
As a result of the pending acquisition, we recognized $8 million of merger-related expenses during the six months ended June 30, 2025, which are included in general and administrative expenses in our consolidated statement of operations.
TanQuid Acquisition
In March 2025, the Partnership entered into an agreement to acquire TanQuid for approximately €500 million (approximately $586 million as of June 30, 2025), including approximately €300 million of assumed debt. TanQuid owns and operates 15 fuel terminals in Germany and one fuel terminal in Poland. The transaction is expected to close in the second half of 2025, subject to customary closing conditions, and will be funded using cash on hand and amounts available under the Partnership's Credit Facility.
Other Acquisitions
In the first quarter of 2025, we acquired fuel equipment, motor fuel inventory and supply agreements in two separate transactions for total consideration of approximately $17 million. Aggregate consideration included $12 million in cash and 91,776 newly issued Sunoco LP common units, which had an aggregate acquisition-date fair value of approximately $5 million.
In the second quarter of 2025, we acquired a total of 151 fuel distribution consignment sites in three separate transactions for total consideration of approximately $105 million plus working capital. Aggregate consideration included $92 million in cash and 251,646 newly issued Sunoco LP common units which had an aggregate acquisition-date fair value of approximately $13 million.
These transactions were accounted for as asset acquisitions, and the purchase price was primarily allocated to inventories, property, plant and equipment and other non-current assets.
v3.25.2
Accounts Receivable, net
 6 Months Ended
Jun. 30, 2025
Accounts Receivable, after Allowance for Credit Loss [Abstract]  
Accounts Receivable, net Accounts Receivable, net
Accounts receivable, net, consisted of the following:
June 30,
2025		December 31,
2024
Accounts receivable, trade$894 $1,058 
Credit card receivables71 28 
Other receivables75 78 
Allowance for expected credit losses(3)(2)
Accounts receivable, net$1,037 $1,162 
v3.25.2
Inventories, net
 6 Months Ended
Jun. 30, 2025
Inventory Disclosure [Abstract]  
Inventories, net Inventories, net 
Fuel inventories are stated at the lower of cost or market using the LIFO method. As of June 30, 2025 and December 31, 2024, the Partnership’s fuel inventory balance included lower of cost or market reserves of $295 million and $316 million, respectively. For the three and six months ended June 30, 2025 and 2024, the Partnership’s consolidated statements of operations did not include any material amounts of income from the liquidation of LIFO fuel inventory. For the three months ended June 30, 2025 and 2024, the Partnership's cost of sales included unfavorable inventory valuation adjustments of $40 million and $32 million, respectively, which decreased net income. For the six months ended June 30, 2025 and 2024, the Partnership's cost of sales included favorable inventory valuation adjustments of $21 million and $98 million, respectively, which increased net income.
Inventories, net, consisted of the following:
June 30,
2025		December 31,
2024
Fuel$1,163 $1,054 
Other16 14 
Inventories, net$1,179 $1,068 
v3.25.2
Investment in Unconsolidated Affiliates
 6 Months Ended
Jun. 30, 2025
Equity Method Investments and Joint Ventures [Abstract]  
Investments in and Advances to Affiliates, Schedule of Investments Investments in Unconsolidated Affiliates
The carrying value of our investment in J.C. Nolan was $121 million and $123 million as of June 30, 2025 and December 31, 2024, respectively. For the three months ended June 30, 2025 and 2024, we recorded equity in earnings from J.C. Nolan of $1 million and $2 million, respectively. For the six months ended June 30, 2025 and 2024, we recorded equity in earnings from J.C. Nolan of $3 million and $4 million, respectively.
The carrying value of our investment in ET-S Permian was $1.16 billion and $1.21 billion as of June 30, 2025 and December 31, 2024, respectively. We recorded equity in earnings from ET-S Permian of $30 million for the three months ended June 30, 2025 and $60 million for the six months ended June 30, 2025. ET-S Permian was formed in July 2024; therefore, our consolidated financial statements for the three and six months ended June 30, 2024 did not reflect any equity in earnings from this joint venture.
The following tables present selected balance sheet and income statement data for ET-S Permian:
June 30,
2025		December 31,
2024
Current assets
$2,849 $273 
Property, plant and equipment, net3,326 3,302 
Other assets323 311 
Total assets$6,498 $3,886 
Current liabilities$2,906 $106 
Non-current liabilities35 50 
Equity3,557 3,730 
Total liabilities and equity$6,498 $3,886 
Three Months Ended June 30, 2025Six Months Ended June 30, 2025
Revenues (1)
$5,632 $9,092 
Operating income97 189 
Net income93 185 
(1) Includes transactions with affiliates for the three and six months ended June 30, 2025 of $5.55 billion and $8.90 billion, respectively.
v3.25.2
Accrued Expenses and Other Current Liabilities
 6 Months Ended
Jun. 30, 2025
Accrued Expenses And Other Current Liabilities [Abstract]  
Accrued Expenses and Other Current Liabilities Accrued Expenses and Other Current Liabilities
Accrued expenses and other current liabilities consisted of the following:
June 30,
2025		December 31,
2024
Wage and other employee-related accrued expenses$41 $64 
Accrued tax expense162 152 
Accrued insurance expense31 39 
Accrued interest expense89 82 
Dealer deposits24 24 
Accrued environmental expense8 7 
Contract liabilities12 17 
Other81 72 
Total$448 $457 
v3.25.2
Debt Obligations
 6 Months Ended
Jun. 30, 2025
Debt Disclosure [Abstract]  
Long-Term Debt Debt Obligations
Our debt obligations consisted of the following:
June 30,
2025		December 31,
2024
Credit Facility$206 $203 
5.750% senior notes due 2025
— 600 
6.000% senior notes due 2026 (1)
500 500 
6.000% senior notes due 2027
600 600 
5.625% senior notes due 2027
550 550 
5.875% senior notes due 2028
400 400 
7.000% senior notes due 2028
500 500 
4.500% senior notes due 2029
800 800 
7.000% senior notes due 2029
750 750 
4.500% senior notes due 2030
800 800 
6.375% senior notes due 2030
600 600 
7.250% senior notes due 2032
750 750 
6.250% senior notes due 2033
1,000 — 
GoZone Bonds247 322 
Lease-related financing obligations131 132 
Net unamortized premiums, discounts and fair value adjustments16 16 
Deferred debt issuance costs(45)(37)
Total debt7,805 7,486 
Less: current maturities2 2 
Total long-term debt, net$7,803 $7,484 
(1)    As of June 30, 2025, $500 million aggregate principal amount of 6.000% senior notes due before June 30, 2026 were classified as long-term as management has the intent and ability to refinance the borrowings on a long-term basis.
March 2025 Senior Notes Offering and Redemption
In March 2025, the Partnership issued $1.00 billion aggregate principal amount of 6.250% senior notes due 2033 in a private offering. These notes will mature on July 1, 2033 and interest is payable semi-annually on January 1 and July 1 of each year. The Partnership used the net proceeds from the private offering to repay its $600 million aggregate principal amount of 5.750% senior notes due 2025 and to repay a portion of the outstanding borrowings under its Credit Facility.
GoZone Bonds
NuStar Logistics' obligations include revenue bonds issued by the Parish of St. James, Louisiana pursuant to the Gulf Opportunity Zone Act of 2005 (the “GoZone Bonds”).
As reflected in the table below, the holders of the Series 2008 and Series 2010B GoZone Bonds are required to tender their bonds at the applicable mandatory purchase date in exchange for 100% of the principal plus accrued and unpaid interest, after which these bonds may be remarketed with a new interest rate established. Each of the Series 2010 and Series 2010A GoZone Bonds is subject to redemption on or after June 1, 2030 by the Parish of St. James, at our option, in whole or in part, at a redemption price of 100% of the principal amount to be redeemed plus accrued and unpaid interest. Interest on the GoZone Bonds is payable semi-annually on June 1 and December 1 of each year. The previously outstanding $75 million principal amount of Series 2011 GoZone Bonds were repurchased on the mandatory purchase date of June 1, 2025 but were not remarketed.
The following table summarizes the GoZone Bonds outstanding as of June 30, 2025:
SeriesDate IssuedAmount OutstandingInterest RateMandatory Purchase DateOptional Redemption DateMaturity Date
Series 2008June 26, 2008$56 6.10 %June 1, 2030n/aJune 1, 2038
Series 2010July 15, 2010100 6.35 %n/aJune 1, 2030July 1, 2040
Series 2010AOctober 7, 201043 6.35 %n/aJune 1, 2030October 1, 2040
Series 2010BDecember 29, 201048 6.10 %June 1, 2030n/aDecember 1, 2040
NuStar Logistics’ agreements with the Parish of St. James related to the GoZone Bonds contain: (i) customary restrictive covenants that limit the ability of NuStar Logistics and its subsidiaries to, among other things, create liens, enter into certain sale leaseback transactions, and engage in certain consolidations, mergers or asset sales; and (ii) a repurchase provision which
provides that if we undergo a change of control that is followed by a ratings decline that occurs within 60 days of the change of control, then each holder may require the trustee, with funds provided by NuStar Logistics, to repurchase all or a portion of that holder’s GoZone Bonds at a price equal to 101% of the aggregate principal amount repurchased, plus any accrued and unpaid interest. The Partnership and certain of its subsidiaries are guarantors to the agreements related to the GoZone Bonds.
Credit Facilities
The Partnership's $1.50 billion Credit Facility, which shall be increased to approximately $2.46 billion upon and subject to the Parkland Acquisition closing date, matures in June 2030, which date may be extended in accordance with the terms of the Credit Facility. The Credit Facility can be increased from time to time upon our written request, subject to certain conditions, up to an aggregate amount of $2.00 billion, or, on and after the Parkland Acquisition closing date, $3.50 billion. As of June 30, 2025, we had $206 million of outstanding borrowings on the Credit Facility and $51 million in standby letters of credit were outstanding. The unused availability on the Credit Facility as of June 30, 2025 was $1.24 billion. The weighted average interest rate on the total amount outstanding as of June 30, 2025 was 6.42%. The Partnership was in compliance with all financial covenants as of June 30, 2025.
On May 16, 2025, the Credit Facility was amended, effective as of the Parkland Acquisition closing date, to, among other things, (i) increase the letter of credit sublimit from $100 million to $250 million, (ii) exclude Parkland and its subsidiaries from any requirement to provide a guarantee of the Obligations (as defined in the credit agreement) to the extent (x) such guarantee would not be permitted under any existing indebtedness of Parkland and its subsidiaries that remains outstanding after the Parkland Acquisition closing date or (y) such guarantee, if provided by a domestic subsidiary that is a direct or indirect subsidiary of a foreign subsidiary, could reasonably be expected to have material adverse tax consequences and (iii) permit the Partnership or any of its subsidiaries to incur (x) Parkland Acquisition bridge debt in an aggregate principal amount not to exceed $2.65 billion and (y) Parkland backstop bridge debt in an aggregate principal amount not to exceed $3.40 billion less reductions to such maximum amount as set forth in the credit agreement.
On June 17, 2025, the Credit Facility was amended to, among other things, (i) extend the maturity date of the revolving credit facility from May 3, 2029 to June 17, 2030, (ii) increase the aggregate principal amount of the revolving loan commitments from $1.50 billion to approximately $2.46 billion, upon and subject to the Parkland Acquisition closing date, (iii) increase the swingline sublimit on and after the Parkland Acquisition closing date from $100 million to $500 million, of which $250 million will be dedicated to swingline borrowings in Canadian Dollars and $250 million will be dedicated to swingline borrowings in U.S. Dollars, and (iv) add the ability to borrow revolving loans in Canadian Dollars.
Upon the closing of the NuStar Acquisition, the commitments under NuStar’s receivables financing agreement were reduced to zero during a suspension period, for which the period end has not been determined. As of June 30, 2025, this facility had no outstanding borrowings.
Fair Value of Debt
The aggregate estimated fair value and carrying amount of our consolidated debt obligations as of June 30, 2025 were $7.92 billion and $7.81 billion, respectively. As of December 31, 2024, the aggregate fair value and carrying amount of our consolidated debt obligations were $7.45 billion and $7.49 billion, respectively. The fair value of our consolidated debt obligations is a Level 2 valuation based on the respective debt obligations' observable inputs for similar liabilities.
v3.25.2
Other Noncurrent Liabilities (Notes)
 6 Months Ended
Jun. 30, 2025
Other Liabilities Disclosure [Abstract]  
Other Liabilities Disclosure [Text Block] Other Non-Current Liabilities
Other non-current liabilities consisted of the following:
June 30,
2025		December 31,
2024
Asset retirement obligations$87 $84 
Accrued environmental expense, long-term18 21 
Other45 53 
Total$150 $158 
v3.25.2
Related-Party Transactions
 6 Months Ended
Jun. 30, 2025
Related Party Transactions [Abstract]  
Related-Party Transactions Related Party Transactions
We are party to fee-based commercial agreements with various affiliates of Energy Transfer for pipeline, terminalling and storage services. We also have agreements with subsidiaries of Energy Transfer for the purchase and sale of fuel. Additionally, under our partnership agreement, our General Partner does not receive a management fee or other compensation for its role as our general partner. However, our General Partner is reimbursed for all expenses incurred on our behalf. These expenses include shared service fees, as well as all other expenses necessary or appropriate to the conduct of our business that are allocable to us, as provided for in our partnership agreement. There is no cap on the amount that may be paid or reimbursed to our General Partner.
Summary of Transactions
Related party transactions for the three and six months ended June 30, 2025 and 2024 were as follows:
Three Months Ended June 30,Six Months Ended June 30,
2025202420252024
Motor fuel sales to affiliates$5 $— $7 $4 
Bulk fuel purchases from affiliates323 373 617 770 
Expense reimbursement10 8 21 17 
Significant affiliate balances included on the consolidated balance sheets were as follows:
•Accounts payable to affiliates were $221 million and $199 million as of June 30, 2025 and December 31, 2024, respectively, which were attributable to operational expenses and bulk fuel purchases.
•Advances from affiliates were $77 million and $82 million as of June 30, 2025 and December 31, 2024, respectively, which were related to treasury services agreements with Energy Transfer.
v3.25.2
Revenue (Notes)
 6 Months Ended
Jun. 30, 2025
Revenue from Contract with Customer [Abstract]  
Revenue from Contract with Customer [Text Block] Revenue
Disaggregation of Revenue
Revenues from our Fuel Distribution segment are derived from the sale of fuel, non-fuel and lease income. Fuel sales consist primarily of the sale of motor fuel under supply agreements with third-party customers and affiliates. Fuel supply contracts with our customers generally provide that we distribute motor fuel at a price based on a formula which includes published rates, volume-based profit margin and other terms specific to the agreement. The customer is invoiced the agreed-upon price with most payment terms ranging less than 30 days. If the consideration promised in a contract includes a variable amount, the Partnership estimates the variable consideration amount and factors in such estimate to determine the transaction price under the expected value method. Revenue is recognized under the motor fuel contracts at the point in time the customer takes control of the fuel. At the time control is transferred to the customer the sale is considered final, because the agreements do not grant customers the right to return motor fuel. To determine when control transfers to the customer, the shipping terms of the contract are assessed as a primary indicator of the transfer of control. For free on board shipping point terms, revenue is recognized at the time of shipment. The performance obligation with respect to the sale of goods is satisfied at the time of shipment since the customer gains control at this time under the terms. Shipping and/or handling costs that occur before the customer obtains control of the goods are deemed to be fulfillment activities and are accounted for as fulfillment costs. Once the goods are shipped, the Partnership is precluded from redirecting the shipment to another customer and revenue is recognized. Non-fuel revenue includes merchandise revenue that comprises the in-store merchandise and food service sales at company-operated retail stores and other revenue such as credit card processing, car washes, lottery and other services. Lease revenue is derived from the leasing or subleasing of real estate used in the retail distribution of motor fuels.
Revenues from our Pipeline Systems segment are derived from interstate and intrastate pipeline transportation of refined products, crude oil and anhydrous ammonia and the applicable pipeline tariff on a per barrel basis for crude oil or refined products and on a per ton basis for ammonia.
Revenues from our Terminals segment include fees for tank storage agreements, under which a customer agrees to pay for a certain amount of storage in a tank over a period of time (storage terminal revenues) and throughput agreements, under which a customer pays a fee per barrel for volumes moving through our terminals (throughput terminal revenues). Our terminals also provide blending, additive injections, handling and filtering services for which we charge additional fees. Additionally, we lease certain of our storage tanks in exchange for a fixed fee, subject to an annual consumer price index adjustment. We recognized lease revenues from these leases of $12 million and $24 million for the three and six months ended June 30, 2025, respectively, which are included in “Service revenue” in our consolidated statement of operations.
The following table depicts the disaggregation of revenue:
Three Months Ended June 30,Six Months Ended June 30,
2025202420252024
Fuel$4,991 $5,797 $9,798 $11,151 
Non-fuel75 81 142 146 
Lease income30 30 59 68 
Pipeline throughput163 138 321 138 
Terminal throughput31 20 58 36 
Other100 108 191 134 
Total revenues$5,390 $6,174 $10,569 $11,673 
Contract Balances with Customers
The balances of the Partnership’s contract assets and contract liabilities as of June 30, 2025 and December 31, 2024 were as follows:
June 30,
2025		December 31, 2024
Contract assets$329 $288 
Accounts receivable from contracts with customers962 1,084 
Contract liabilities33 39 
The following table summarizes the consolidated activity of our contract liabilities :
Contract Liabilities
Balance, December 31, 2024$39 
Additions10 
Revenue recognized(16)
Balance, June 30, 2025$33 
Contract Liabilities
Balance, December 31, 2023$— 
NuStar Acquisition78 
Zenith European terminals acquisition3 
Additions19 
Revenue recognized(19)
Balance, June 30, 2024$81 
Remaining Performance Obligations
The following table presents our estimated revenues from contracts with customers for remaining performance obligations that have not yet been recognized, representing our contractually committed revenue as of June 30, 2025.
Remaining Performance Obligations
2025(remaining)$201 
2026301 
2027202 
2028155 
2029110 
Thereafter275 
Total$1,244 
Our contractually committed revenue, for purposes of the tabular presentation above, is generally limited to customer contracts that have fixed pricing and fixed volume terms and conditions, including contracts with payment obligations for minimum volume commitments.
Costs to Obtain or Fulfill a Contract
The Partnership recognized amortization on capitalized costs incurred to obtain contracts of $10 million and $9 million for the three months ended June 30, 2025 and 2024, respectively, and $19 million and $17 million for the six months ended June 30, 2025 and 2024, respectively.
v3.25.2
Commitments And Contingencies
 6 Months Ended
Jun. 30, 2025
Leases [Abstract]  
Commitments and Contingencies Commitments and Contingencies
Litigation
From time to time, the Partnership is involved in various legal proceedings and claims arising out of our operations in the normal course of business. Such proceedings are subject to the uncertainties inherent in any litigation, and we regularly assess the need for accounting recognition or disclosure of any related contingencies. We maintain liability insurance with insurers with coverage and deductibles management believes are reasonable and prudent. However, there can be no assurance that the levels of insurance protection currently in effect will continue to be available at reasonable prices or that such levels will be adequate to protect us from material expenses related to product liability, personal injury or property damage in the future. Based on currently available information, we believe it is unlikely that the outcome of known matters would have a material adverse impact on our financial condition, results of operations or cash flows.
New York Motor Fuel Excise Tax Audit
New York State issued a motor fuel excise tax assessment to Sunoco LLC, a wholly owned subsidiary of the Partnership, in the amount of approximately $20 million, exclusive of penalties and interest, for the periods of March 2017 through May 2020. Sunoco LLC intends to pursue all available avenues of appeal and contest the full amount of the assessment. Sunoco LLC cannot predict the outcome of this matter at this time
v3.25.2
Equity
 6 Months Ended
Jun. 30, 2025
Partners' Capital [Abstract]  
Partners' Capital Equity
As of June 30, 2025, Energy Transfer and its subsidiaries owned 28,463,967 of our common units and the public owned 108,139,215 of our common units. As of June 30, 2025, our wholly owned subsidiaries owned all of the 16,410,780 Class C units representing limited partner interests in the Partnership.
Common Units
The change in our outstanding common units for the six months ended June 30, 2025 was as follows: 
Number of Units
Number of common units at December 31, 2024
136,228,535 
Phantom unit vesting31,225 
Units issued in acquisitions343,422 
Number of common units at June 30, 2025
136,603,182 
Cash Distributions
Our partnership agreement sets forth the calculation used to determine the amount and priority of cash distributions that the common unitholders receive.
Cash distributions paid or declared subsequent to December 31, 2024 were as follows:
Limited Partners
Payment DatePer Unit DistributionTotal Cash DistributionDistribution to IDR Holders
February 19, 2025$0.8865 $121 $37 
May 20, 20250.8976 122 39 
August 19, 20250.9088 124 41 
Accumulated Other Comprehensive Income
The following table presents the components of AOCI, net of tax:
June 30,
2025		December 31,
2024
Foreign currency translation adjustment$(4)$(1)
Actuarial gains related to pensions and other postretirement benefits2 3 
Total AOCI included in partners’ capital, net of tax$(2)$2 
v3.25.2
Segment Reporting
 6 Months Ended
Jun. 30, 2025
Segment Reporting [Abstract]  
Segment Reporting Disclosure [Text Block] Segment Reporting
Description of Segments
Our consolidated financial statements reflect three reportable segments: Fuel Distribution, Pipeline Systems and Terminals.
Fuel Distribution. Our Fuel Distribution segment supplies motor fuel to independently-operated dealer stations, distributors, commission agents and other consumers. Also included in our Fuel Distribution segment is lease income from properties that we lease or sublease, as well as the Partnership’s credit card services, franchise royalties and retail operations in Hawaii and New Jersey.
Pipeline Systems. Our Pipeline Systems segment includes an integrated pipeline and terminal network comprised of approximately 6,000 miles of refined product pipeline (including the pipeline of J.C. Nolan), approximately 6,000 miles of crude oil pipeline (including the pipeline of ET-S Permian), approximately 2,000 miles of ammonia pipeline and 67 terminals.
Terminals. Our Terminals segment is composed of four transmix processing facilities and 56 refined product terminals (two in Europe, six in Hawaii and 48 in the continental United States).
Segment Operating Results
We report Adjusted EBITDA by segment as a measure of segment performance. We define Adjusted EBITDA as earnings before net interest expense, income taxes, depreciation, amortization and accretion expense, non-cash unit-based compensation expense, gains and losses on disposal of assets, non-cash impairment charges, losses on extinguishment of debt, unrealized gains and losses on commodity derivatives, inventory valuation adjustments, and certain other operating expenses reflected in net income that we do not believe are indicative of ongoing core operations. Inventory valuation adjustments that are excluded from the calculation of Adjusted EBITDA represent changes in lower of cost or market reserves on the Partnership's inventory. These amounts are unrealized valuation adjustments applied to fuel volumes remaining in inventory at the end of the period.
The following tables present financial information by segment for the three and six months ended June 30, 2025 and 2024:
Three Months Ended June 30,Six Months Ended June 30,
2025202420252024
Revenues:
Fuel Distribution
Revenues from external customers$5,096 $5,908 $9,999 $11,365 
Intersegment revenues9 11 22 20 
5,105 5,919 10,021 11,385 
Pipeline Systems
Revenues from external customers181 177 354 177 
Intersegment revenues1 1 2 1 
182 178 356 178 
Terminals
Revenues from external customers113 89 216 131 
Intersegment revenues230 253 466 510 
343 342 682 641 
Eliminations(240)(265)(490)(531)
Total$5,390 $6,174 $10,569 $11,673 
Three Months Ended June 30,Six Months Ended June 30,
2025202420252024
Cost of sales:
Fuel Distribution$4,843 $5,615 $9,398 $10,664 
Pipeline Systems(1)6 (1)5 
Terminals219 253 440 486 
Eliminations(240)(265)(490)(531)
Total$4,821 $5,609 $9,347 $10,624 
Three Months Ended June 30,Six Months Ended June 30,
2025202420252024
Operating and lease expenses, excluding non-cash unit-based compensation:
Fuel Distribution$74 $73 $146 $156 
Pipeline Systems45 38 89 39 
Terminals43 38 85 59 
Total$162 $149 $320 $254 
Three Months Ended June 30,Six Months Ended June 30,
2025202420252024
General and administrative expenses, excluding non-cash unit-based compensation:
Fuel Distribution$26 $20 $46 $43 
Pipeline Systems11 83 20 86 
Terminals10 29 17 36 
Total$47 $132 $83 $165 
Three Months Ended June 30,Six Months Ended June 30,
2025202420252024
Other(1):
Fuel Distribution$(44)$(34)$5 $59 
Pipeline Systems(50)(2)(101)(5)
Terminals— — 3 14 
Total$(94)$(36)$(93)$68 
(1)    Other includes Adjusted EBITDA from unconsolidated affiliates, unrealized gains and losses on commodity derivatives, inventory valuation adjustments and other less significant items, as applicable.
Three Months Ended June 30,Six Months Ended June 30,
2025202420252024
Segment Adjusted EBITDA:
Fuel Distribution$206 $245 $426 $463 
Pipeline Systems177 53 349 53 
Terminals71 22 137 46 
Total$454 $320 $912 $562 
Three Months Ended June 30,Six Months Ended June 30,
2025202420252024
Reconciliation of net income to Adjusted EBITDA:
Net income$86 $501 $293 $731 
Depreciation, amortization and accretion154 78 310 121 
Interest expense, net123 95 244 158 
Non-cash unit-based compensation expense5 4 9 8 
(Gain) loss on disposal of assets and impairment charges(2)52 1 54 
Loss on extinguishment of debt17 2 19 2 
Unrealized (gains) losses on commodity derivatives(7)(6)(8)7 
Inventory valuation adjustments40 32 (21)(98)
Equity in earnings of unconsolidated affiliates(31)(2)(63)(4)
Adjusted EBITDA related to unconsolidated affiliates51 3 101 6 
Gain on West Texas Sale— (598)— (598)
Other non-cash adjustments11 10 22 19 
Income tax expense7 149 5 156 
Adjusted EBITDA (consolidated)$454 $320 $912 $562 
June 30,
2025		December 31, 2024
Assets:
Fuel Distribution$5,932 $6,047 
Pipeline Systems6,086 6,213 
Terminals2,218 1,944 
Total segment assets14,236 14,204 
Other partnership assets192 171 
Total assets$14,428 $14,375 
v3.25.2
Net Income per Common Unit
 6 Months Ended
Jun. 30, 2025
Net Income Per Unit [Abstract]  
Net Income per Unit Net Income per Common Unit
A reconciliation of the numerators and denominators of the basic and diluted net income per common unit computations is as follows:
Three Months Ended June 30,Six Months Ended June 30,
2025202420252024
Net income$86 $501 $293 $731 
Less:
Net income attributable to noncontrolling interests— 8 — 8 
Incentive distribution rights
40 36 79 72 
Distributions on unvested phantom unit awards
1 2 3 3 
Common unitholders’ interest in net income
$45 $455 $211 $648 
Weighted average common units outstanding:
Basic
136,432,676 117,271,408 136,350,550 100,848,078 
Dilutive effect of unvested phantom unit awards713,343 783,450 690,396 808,998 
Diluted
137,146,019 118,054,858 137,040,946 101,657,076 
Net income per common unit:
Basic
$0.33 $3.88 $1.55 $6.43 
Diluted
$0.33 $3.85 $1.54 $6.37 
v3.25.2
Insider Trading Arrangements
 6 Months Ended
Jun. 30, 2025
Trading Arrangements, by Individual  
Rule 10b5-1 Arrangement Adopted false
Non-Rule 10b5-1 Arrangement Adopted false
Rule 10b5-1 Arrangement Terminated false
Non-Rule 10b5-1 Arrangement Terminated false
v3.25.2
Organization and Principles of Consolidation Organization and Principles of Consolidation (Policies)
 6 Months Ended
Jun. 30, 2025
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Consolidation, Policy
The consolidated financial statements include Sunoco LP, a publicly traded Delaware limited partnership, and its wholly owned subsidiaries. In the opinion of the Partnership’s management, such financial information reflects all adjustments necessary for a fair presentation of the financial position and the results of operations for such interim periods in accordance with GAAP. All significant intercompany accounts and transactions have been eliminated in consolidation.
The operations of certain pipelines and terminals in which we own an undivided interest are proportionately consolidated in the accompanying consolidated financial statements.
v3.25.2
Summary of Significant Accounting Policies (Policies)
 6 Months Ended
Jun. 30, 2025
Accounting Policies [Abstract]  
Basis of Accounting, Policy [Policy Text Block]
Interim Financial Statements
The accompanying interim consolidated financial statements have been prepared in accordance with GAAP. Pursuant to Regulation S-X, certain information and disclosures normally included in the annual consolidated financial statements have been condensed or omitted. The interim consolidated financial statements and notes included herein should be read in conjunction with the consolidated financial statements and notes included in our Annual Report on Form 10-K for the year ended December 31, 2024 filed with the SEC on February 14, 2025.
Recently Issued Accounting Pronouncements
Significant Accounting Policies
As of June 30, 2025, there have been no changes in the Partnership's significant accounting policies from those described in our Annual Report on Form 10-K for the year ended December 31, 2024 filed with the SEC on February 14, 2025.
Motor Fuel and Sales Taxes
Motor Fuel and Sales Taxes
Certain motor fuel and sales taxes are collected from customers and remitted to governmental agencies either directly by the Partnership or through suppliers. The Partnership’s accounting policy for wholesale direct sales to dealers, distributors and commercial customers is to exclude the collected motor fuel tax from sales and cost of sales.
For retail locations where the Partnership holds inventory, including commission agent locations, motor fuel sales and motor fuel cost of sales include motor fuel taxes. Such amounts were $35 million and $41 million for the three months ended June 30, 2025 and 2024, respectively, and $64 million and $100 million for the six months ended June 30, 2025 and 2024, respectively. Merchandise sales and cost of merchandise sales are reported net of sales tax in our consolidated statements of operations.
v3.25.2
Inventory (Policies)
 6 Months Ended
Jun. 30, 2025
Inventory Disclosure [Abstract]  
Inventory, Policy
Fuel inventories are stated at the lower of cost or market using the LIFO method. As of June 30, 2025 and December 31, 2024, the Partnership’s fuel inventory balance included lower of cost or market reserves of $295 million and $316 million, respectively. For the three and six months ended June 30, 2025 and 2024, the Partnership’s consolidated statements of operations did not include any material amounts of income from the liquidation of LIFO fuel inventory. For the three months ended June 30, 2025 and 2024, the Partnership's cost of sales included unfavorable inventory valuation adjustments of $40 million and $32 million, respectively, which decreased net income. For the six months ended June 30, 2025 and 2024, the Partnership's cost of sales included favorable inventory valuation adjustments of $21 million and $98 million, respectively, which increased net income.
v3.25.2
Revenue from Contract with Customer (Policies)
 6 Months Ended
Jun. 30, 2025
Revenue from Contract with Customer [Abstract]  
Revenue
Disaggregation of Revenue
Revenues from our Fuel Distribution segment are derived from the sale of fuel, non-fuel and lease income. Fuel sales consist primarily of the sale of motor fuel under supply agreements with third-party customers and affiliates. Fuel supply contracts with our customers generally provide that we distribute motor fuel at a price based on a formula which includes published rates, volume-based profit margin and other terms specific to the agreement. The customer is invoiced the agreed-upon price with most payment terms ranging less than 30 days. If the consideration promised in a contract includes a variable amount, the Partnership estimates the variable consideration amount and factors in such estimate to determine the transaction price under the expected value method. Revenue is recognized under the motor fuel contracts at the point in time the customer takes control of the fuel. At the time control is transferred to the customer the sale is considered final, because the agreements do not grant customers the right to return motor fuel. To determine when control transfers to the customer, the shipping terms of the contract are assessed as a primary indicator of the transfer of control. For free on board shipping point terms, revenue is recognized at the time of shipment. The performance obligation with respect to the sale of goods is satisfied at the time of shipment since the customer gains control at this time under the terms. Shipping and/or handling costs that occur before the customer obtains control of the goods are deemed to be fulfillment activities and are accounted for as fulfillment costs. Once the goods are shipped, the Partnership is precluded from redirecting the shipment to another customer and revenue is recognized. Non-fuel revenue includes merchandise revenue that comprises the in-store merchandise and food service sales at company-operated retail stores and other revenue such as credit card processing, car washes, lottery and other services. Lease revenue is derived from the leasing or subleasing of real estate used in the retail distribution of motor fuels.
Revenues from our Pipeline Systems segment are derived from interstate and intrastate pipeline transportation of refined products, crude oil and anhydrous ammonia and the applicable pipeline tariff on a per barrel basis for crude oil or refined products and on a per ton basis for ammonia.
Revenues from our Terminals segment include fees for tank storage agreements, under which a customer agrees to pay for a certain amount of storage in a tank over a period of time (storage terminal revenues) and throughput agreements, under which a customer pays a fee per barrel for volumes moving through our terminals (throughput terminal revenues). Our terminals also provide blending, additive injections, handling and filtering services for which we charge additional fees. Additionally, we lease certain of our storage tanks in exchange for a fixed fee, subject to an annual consumer price index adjustment. We recognized lease revenues from these leases of $12 million and $24 million for the three and six months ended June 30, 2025, respectively, which are included in “Service revenue” in our consolidated statement of operations.
Costs to Obtain or Fulfill a Contract
The Partnership recognized amortization on capitalized costs incurred to obtain contracts of $10 million and $9 million for the three months ended June 30, 2025 and 2024, respectively, and $19 million and $17 million for the six months ended June 30, 2025 and 2024, respectively.
v3.25.2
Accounts Receivable, net (Tables)
 6 Months Ended
Jun. 30, 2025
Accounts Receivable, after Allowance for Credit Loss [Abstract]  
Schedule of Accounts Receivable
Accounts receivable, net, consisted of the following:
June 30,
2025		December 31,
2024
Accounts receivable, trade$894 $1,058 
Credit card receivables71 28 
Other receivables75 78 
Allowance for expected credit losses(3)(2)
Accounts receivable, net$1,037 $1,162 
v3.25.2
Inventories, net (Tables)
 6 Months Ended
Jun. 30, 2025
Inventory Disclosure [Abstract]  
Schedule of Inventories
Inventories, net, consisted of the following:
June 30,
2025		December 31,
2024
Fuel$1,163 $1,054 
Other16 14 
Inventories, net$1,179 $1,068 
v3.25.2
Investment in Unconsolidated Affiliates (Tables)
 6 Months Ended
Jun. 30, 2025
Equity Method Investments and Joint Ventures [Abstract]  
Schedule of Investments in and Advances to Affiliates, Schedule of Investments
The following tables present selected balance sheet and income statement data for ET-S Permian:
June 30,
2025		December 31,
2024
Current assets
$2,849 $273 
Property, plant and equipment, net3,326 3,302 
Other assets323 311 
Total assets$6,498 $3,886 
Current liabilities$2,906 $106 
Non-current liabilities35 50 
Equity3,557 3,730 
Total liabilities and equity$6,498 $3,886 
Three Months Ended June 30, 2025Six Months Ended June 30, 2025
Revenues (1)
$5,632 $9,092 
Operating income97 189 
Net income93 185 
(1) Includes transactions with affiliates for the three and six months ended June 30, 2025 of $5.55 billion and $8.90 billion, respectively.
v3.25.2
Accrued Expenses and Other Current Liabilities (Tables)
 6 Months Ended
Jun. 30, 2025
Accrued Expenses And Other Current Liabilities [Abstract]  
Schedule of Accrued Liabilities
Accrued expenses and other current liabilities consisted of the following:
June 30,
2025		December 31,
2024
Wage and other employee-related accrued expenses$41 $64 
Accrued tax expense162 152 
Accrued insurance expense31 39 
Accrued interest expense89 82 
Dealer deposits24 24 
Accrued environmental expense8 7 
Contract liabilities12 17 
Other81 72 
Total$448 $457 
v3.25.2
Debt Obligations (Tables)
 6 Months Ended
Jun. 30, 2025
Debt Disclosure [Abstract]  
Schedule of Long-term Debt
Our debt obligations consisted of the following:
June 30,
2025		December 31,
2024
Credit Facility$206 $203 
5.750% senior notes due 2025
— 600 
6.000% senior notes due 2026 (1)
500 500 
6.000% senior notes due 2027
600 600 
5.625% senior notes due 2027
550 550 
5.875% senior notes due 2028
400 400 
7.000% senior notes due 2028
500 500 
4.500% senior notes due 2029
800 800 
7.000% senior notes due 2029
750 750 
4.500% senior notes due 2030
800 800 
6.375% senior notes due 2030
600 600 
7.250% senior notes due 2032
750 750 
6.250% senior notes due 2033
1,000 — 
GoZone Bonds247 322 
Lease-related financing obligations131 132 
Net unamortized premiums, discounts and fair value adjustments16 16 
Deferred debt issuance costs(45)(37)
Total debt7,805 7,486 
Less: current maturities2 2 
Total long-term debt, net$7,803 $7,484 
(1)    As of June 30, 2025, $500 million aggregate principal amount of 6.000% senior notes due before June 30, 2026 were classified as long-term as management has the intent and ability to refinance the borrowings on a long-term basis.
Schedule of Debt Conversions
The following table summarizes the GoZone Bonds outstanding as of June 30, 2025:
SeriesDate IssuedAmount OutstandingInterest RateMandatory Purchase DateOptional Redemption DateMaturity Date
Series 2008June 26, 2008$56 6.10 %June 1, 2030n/aJune 1, 2038
Series 2010July 15, 2010100 6.35 %n/aJune 1, 2030July 1, 2040
Series 2010AOctober 7, 201043 6.35 %n/aJune 1, 2030October 1, 2040
Series 2010BDecember 29, 201048 6.10 %June 1, 2030n/aDecember 1, 2040
v3.25.2
Other Noncurrent Liabilities (Tables)
 6 Months Ended
Jun. 30, 2025
Other Liabilities Disclosure [Abstract]  
Other Noncurrent Liabilities [Table Text Block]
Other non-current liabilities consisted of the following:
June 30,
2025		December 31,
2024
Asset retirement obligations$87 $84 
Accrued environmental expense, long-term18 21 
Other45 53 
Total$150 $158 
v3.25.2
Related-Party Transactions (Tables)
 6 Months Ended
Jun. 30, 2025
Related Party Transactions [Abstract]  
Schedule of Related Party Transactions [Table Text Block]
Related party transactions for the three and six months ended June 30, 2025 and 2024 were as follows:
Three Months Ended June 30,Six Months Ended June 30,
2025202420252024
Motor fuel sales to affiliates$5 $— $7 $4 
Bulk fuel purchases from affiliates323 373 617 770 
Expense reimbursement10 8 21 17 
v3.25.2
Revenue (Tables)
 6 Months Ended
Jun. 30, 2025
Revenue from Contract with Customer [Abstract]  
Disaggregation of Revenue [Table Text Block]
The following table depicts the disaggregation of revenue:
Three Months Ended June 30,Six Months Ended June 30,
2025202420252024
Fuel$4,991 $5,797 $9,798 $11,151 
Non-fuel75 81 142 146 
Lease income30 30 59 68 
Pipeline throughput163 138 321 138 
Terminal throughput31 20 58 36 
Other100 108 191 134 
Total revenues$5,390 $6,174 $10,569 $11,673 
Contract with Customer, Contract Asset, Contract Liability, and Receivable [Table Text Block]
The balances of the Partnership’s contract assets and contract liabilities as of June 30, 2025 and December 31, 2024 were as follows:
June 30,
2025		December 31, 2024
Contract assets$329 $288 
Accounts receivable from contracts with customers962 1,084 
Contract liabilities33 39 
The following table summarizes the consolidated activity of our contract liabilities :
Contract Liabilities
Balance, December 31, 2024$39 
Additions10 
Revenue recognized(16)
Balance, June 30, 2025$33 
Contract Liabilities
Balance, December 31, 2023$— 
NuStar Acquisition78 
Zenith European terminals acquisition3 
Additions19 
Revenue recognized(19)
Balance, June 30, 2024$81 
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction
Remaining Performance Obligations
The following table presents our estimated revenues from contracts with customers for remaining performance obligations that have not yet been recognized, representing our contractually committed revenue as of June 30, 2025.
Remaining Performance Obligations
2025(remaining)$201 
2026301 
2027202 
2028155 
2029110 
Thereafter275 
Total$1,244 
Our contractually committed revenue, for purposes of the tabular presentation above, is generally limited to customer contracts that have fixed pricing and fixed volume terms and conditions, including contracts with payment obligations for minimum volume commitments.
v3.25.2
Equity (Tables)
 6 Months Ended
Jun. 30, 2025
Partners' Capital [Abstract]  
Schedule of Common Units
The change in our outstanding common units for the six months ended June 30, 2025 was as follows: 
Number of Units
Number of common units at December 31, 2024
136,228,535 
Phantom unit vesting31,225 
Units issued in acquisitions343,422 
Number of common units at June 30, 2025
136,603,182 
Distributions Made to Limited Partner, by Distribution
Cash distributions paid or declared subsequent to December 31, 2024 were as follows:
Limited Partners
Payment DatePer Unit DistributionTotal Cash DistributionDistribution to IDR Holders
February 19, 2025$0.8865 $121 $37 
May 20, 20250.8976 122 39 
August 19, 20250.9088 124 41 
Schedule of Accumulated Other Comprehensive Income (Loss)
The following table presents the components of AOCI, net of tax:
June 30,
2025		December 31,
2024
Foreign currency translation adjustment$(4)$(1)
Actuarial gains related to pensions and other postretirement benefits2 3 
Total AOCI included in partners’ capital, net of tax$(2)$2 
v3.25.2
Segment Reporting (Tables)
 6 Months Ended
Jun. 30, 2025
Segment Reporting [Abstract]  
Schedule of Segment Reporting Information, by Segment [Table Text Block]
The following tables present financial information by segment for the three and six months ended June 30, 2025 and 2024:
Three Months Ended June 30,Six Months Ended June 30,
2025202420252024
Revenues:
Fuel Distribution
Revenues from external customers$5,096 $5,908 $9,999 $11,365 
Intersegment revenues9 11 22 20 
5,105 5,919 10,021 11,385 
Pipeline Systems
Revenues from external customers181 177 354 177 
Intersegment revenues1 1 2 1 
182 178 356 178 
Terminals
Revenues from external customers113 89 216 131 
Intersegment revenues230 253 466 510 
343 342 682 641 
Eliminations(240)(265)(490)(531)
Total$5,390 $6,174 $10,569 $11,673 
Three Months Ended June 30,Six Months Ended June 30,
2025202420252024
Cost of sales:
Fuel Distribution$4,843 $5,615 $9,398 $10,664 
Pipeline Systems(1)6 (1)5 
Terminals219 253 440 486 
Eliminations(240)(265)(490)(531)
Total$4,821 $5,609 $9,347 $10,624 
Three Months Ended June 30,Six Months Ended June 30,
2025202420252024
Operating and lease expenses, excluding non-cash unit-based compensation:
Fuel Distribution$74 $73 $146 $156 
Pipeline Systems45 38 89 39 
Terminals43 38 85 59 
Total$162 $149 $320 $254 
Three Months Ended June 30,Six Months Ended June 30,
2025202420252024
General and administrative expenses, excluding non-cash unit-based compensation:
Fuel Distribution$26 $20 $46 $43 
Pipeline Systems11 83 20 86 
Terminals10 29 17 36 
Total$47 $132 $83 $165 
Three Months Ended June 30,Six Months Ended June 30,
2025202420252024
Other(1):
Fuel Distribution$(44)$(34)$5 $59 
Pipeline Systems(50)(2)(101)(5)
Terminals— — 3 14 
Total$(94)$(36)$(93)$68 
(1)    Other includes Adjusted EBITDA from unconsolidated affiliates, unrealized gains and losses on commodity derivatives, inventory valuation adjustments and other less significant items, as applicable.
Three Months Ended June 30,Six Months Ended June 30,
2025202420252024
Segment Adjusted EBITDA:
Fuel Distribution$206 $245 $426 $463 
Pipeline Systems177 53 349 53 
Terminals71 22 137 46 
Total$454 $320 $912 $562 
Three Months Ended June 30,Six Months Ended June 30,
2025202420252024
Reconciliation of net income to Adjusted EBITDA:
Net income$86 $501 $293 $731 
Depreciation, amortization and accretion154 78 310 121 
Interest expense, net123 95 244 158 
Non-cash unit-based compensation expense5 4 9 8 
(Gain) loss on disposal of assets and impairment charges(2)52 1 54 
Loss on extinguishment of debt17 2 19 2 
Unrealized (gains) losses on commodity derivatives(7)(6)(8)7 
Inventory valuation adjustments40 32 (21)(98)
Equity in earnings of unconsolidated affiliates(31)(2)(63)(4)
Adjusted EBITDA related to unconsolidated affiliates51 3 101 6 
Gain on West Texas Sale— (598)— (598)
Other non-cash adjustments11 10 22 19 
Income tax expense7 149 5 156 
Adjusted EBITDA (consolidated)$454 $320 $912 $562 
June 30,
2025		December 31, 2024
Assets:
Fuel Distribution$5,932 $6,047 
Pipeline Systems6,086 6,213 
Terminals2,218 1,944 
Total segment assets14,236 14,204 
Other partnership assets192 171 
Total assets$14,428 $14,375 
v3.25.2
Net Income per Common Unit (Tables)
 6 Months Ended
Jun. 30, 2025
Net Income Per Unit [Abstract]  
Schedule of Net Income per Unit, Basic and Diluted
A reconciliation of the numerators and denominators of the basic and diluted net income per common unit computations is as follows:
Three Months Ended June 30,Six Months Ended June 30,
2025202420252024
Net income$86 $501 $293 $731 
Less:
Net income attributable to noncontrolling interests— 8 — 8 
Incentive distribution rights
40 36 79 72 
Distributions on unvested phantom unit awards
1 2 3 3 
Common unitholders’ interest in net income
$45 $455 $211 $648 
Weighted average common units outstanding:
Basic
136,432,676 117,271,408 136,350,550 100,848,078 
Dilutive effect of unvested phantom unit awards713,343 783,450 690,396 808,998 
Diluted
137,146,019 118,054,858 137,040,946 101,657,076 
Net income per common unit:
Basic
$0.33 $3.88 $1.55 $6.43 
Diluted
$0.33 $3.85 $1.54 $6.37 
v3.25.2
Organization and Principles of Consolidation - Additional Information (Details) - shares
 6 Months Ended
Jun. 30, 2025
Dec. 31, 2024
Energy Transfer    
Organization Consolidation And Presentation Of Financial Statements [Line Items]    
Subsidiary of Limited Liability Company or Limited Partnership, Managing Member or General Partner Energy Transfer owned 100% of the limited liability company interests in our General Partner  
Common Units [Member]    
Organization Consolidation And Presentation Of Financial Statements [Line Items]    
Limited Partners' Capital Account, Units Outstanding 136,603,182 136,228,535
Energy Transfer | Common Units [Member]    
Organization Consolidation And Presentation Of Financial Statements [Line Items]    
Limited Partners' Capital Account, Units Outstanding 28,463,967  
v3.25.2
Summary of Significant Accounting Policies - Additional Information (Details) - USD ($)
$ in Millions
 3 Months Ended 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
Product Information [Line Items]        
Revenues $ 5,390 $ 6,174 $ 10,569 $ 11,673
Motor fuel sales and sales include motor fuel taxes        
Product Information [Line Items]        
Revenues $ 35 $ 41 $ 64 $ 100
v3.25.2
Acquisitions, Divestitures and Other Transactions (Details)
€ in Millions, $ in Millions
 3 Months Ended 6 Months Ended
Jun. 30, 2025
USD ($)
Mar. 31, 2025
USD ($)
Jun. 30, 2024
USD ($)
Jun. 30, 2025
USD ($)
shares
Jun. 30, 2025
EUR (€)
shares
May 05, 2025
conversionRatioOfUnitsInAcquisition
$ / shares
Asset Acquisition [Line Items]            
Units issued in acquisition   $ 5 $ 3,651      
Common Unitholders            
Asset Acquisition [Line Items]            
Units issued in acquisition   $ 5 $ 2,850      
TanQuid            
Asset Acquisition [Line Items]            
Business Combination, Reason for Business Combination       TanQuid owns and operates 15 fuel terminals in Germany and one fuel terminal in Poland. TanQuid owns and operates 15 fuel terminals in Germany and one fuel terminal in Poland.  
Business Combination, Consideration Transferred       $ 586 € 500  
Business Combination, Recognized Liability Assumed, Long-Term Debt, Noncurrent $ 300     300    
Acquisition of fuel equipment, motor fuel inventory and supply agreements            
Asset Acquisition [Line Items]            
Business Combination, Consideration Transferred       17    
Payments to Acquire Businesses, Gross       $ 12    
Business Combination, Consideration Transferred, Equity Interest, Share Issued, Number of Shares | shares       343,422 343,422  
Parkland            
Asset Acquisition [Line Items]            
Business Combination, Price Per Share | $ / shares           $ 19.80
Business Acquisition, Equity Interest Issued or Issuable, Conversion Ratio of Shares | conversionRatioOfUnitsInAcquisition           0.295
Payments for Merger Related Costs       $ 8    
Parkland | Stock election            
Asset Acquisition [Line Items]            
Business Acquisition, Equity Interest Issued or Issuable, Conversion Ratio of Shares | conversionRatioOfUnitsInAcquisition           0.536
Parkland | Cash election            
Asset Acquisition [Line Items]            
Business Combination, Price Per Share | $ / shares           $ 44.00
151 fuel distribution consignment site            
Asset Acquisition [Line Items]            
Business Combination, Consideration Transferred       105    
Payments to Acquire Businesses, Gross       $ 92    
Business Combination, Consideration Transferred, Equity Interest, Share Issued, Number of Shares | shares       251,646 251,646  
Fuel distribution sites acquired       151 151  
151 fuel distribution consignment site | Common Unitholders            
Asset Acquisition [Line Items]            
Units issued in acquisition $ 13     $ 13    
v3.25.2
Accounts Receivable, net (Details) - USD ($)
$ in Millions
Jun. 30, 2025
Dec. 31, 2024
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Allowance for expected credit losses $ (3) $ (2)
Accounts receivable, net 1,037 1,162
Trade Accounts Receivable [Member]    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Accounts receivable, gross, current 894 1,058
Credit Card Receivable [Member]    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Accounts receivable, gross, current 71 28
Other Receivables [Member]    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Accounts receivable, gross, current $ 75 $ 78
v3.25.2
Inventories, net - Additional Information (Details) - USD ($)
$ in Millions
Jun. 30, 2025
Dec. 31, 2024
Inventory Disclosure [Abstract]    
Inventory Adjustments $ 295 $ 316
v3.25.2
Inventories, net (Details) - USD ($)
$ in Millions
 3 Months Ended 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
Dec. 31, 2024
Inventory Disclosure [Abstract]          
Fuel $ 1,163   $ 1,163   $ 1,054
Other 16   16   14
Inventories, net 1,179   1,179   1,068
Inventory Adjustments 295   295   $ 316
Inventory valuation adjustments $ (40) $ (32) $ 21 $ 98  
v3.25.2
Investment in Unconsolidated Affiliates (Details) - USD ($)
$ in Millions
 3 Months Ended 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
Dec. 31, 2024
Schedule of Equity Method Investments [Line Items]          
Investments in unconsolidated affiliates $ 1,277   $ 1,277   $ 1,335
Equity in earnings of unconsolidated affiliates 31 $ 2 63 $ 4  
J.C. Nolan Joint Venture          
Schedule of Equity Method Investments [Line Items]          
Investments in unconsolidated affiliates 121   121   123
Equity in earnings of unconsolidated affiliates 1 $ 2      
Permian joint venture          
Schedule of Equity Method Investments [Line Items]          
Investments in unconsolidated affiliates 1,160   1,160   $ 1,210
Equity in earnings of unconsolidated affiliates $ 30   60    
J.C. Nolan Joint Venture          
Schedule of Equity Method Investments [Line Items]          
Equity in earnings of unconsolidated affiliates     $ 3 $ 4  
v3.25.2
Schedule of Investment in Unconsolidated Affiliates (Details) - USD ($)
$ in Millions
 3 Months Ended 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Mar. 31, 2024
Jun. 30, 2025
Jun. 30, 2024
Dec. 31, 2024
Schedule of Equity Method Investments [Line Items]            
Assets, Current $ 2,482     $ 2,482   $ 2,465
Property, Plant and Equipment, Net 7,671     7,671   7,674
Other non-current assets 486     486   400
Assets 14,428     14,428   14,375
Liabilities, Current 1,630     1,630   1,947
Liabilities and Equity 14,428     14,428   14,375
Other non-current liabilities 150     150   158
Revenues 5,390 $ 6,174   10,569 $ 11,673  
Operating Income (Loss) 203 150   499 447  
NET INCOME 86 501 $ 230 293 $ 731  
Related Party            
Schedule of Equity Method Investments [Line Items]            
Revenues 5,550     8,900    
ET-S Permian joint venture            
Schedule of Equity Method Investments [Line Items]            
Assets, Current 2,849     2,849   273
Property, Plant and Equipment, Net 3,326     3,326   3,302
Other non-current assets 323     323   311
Assets 6,498     6,498   3,886
Liabilities, Current 2,906     2,906   106
Liabilities and Equity 6,498     6,498   3,886
Other non-current liabilities 35     35   50
Equity, Including Portion Attributable to Noncontrolling Interest 3,557     $ 3,557   $ 3,730
Revenues [1] 5,632 9,092        
Operating Income (Loss) 97 189        
NET INCOME $ 93 $ 185        
[1] Includes transactions with affiliates for the three and six months ended June 30, 2025 of $5.55 billion and $8.90 billion, respectively.
v3.25.2
Accrued Expenses and Other Current Liabilities (Details) - USD ($)
$ in Millions
Jun. 30, 2025
Dec. 31, 2024
Accrued Expenses And Other Current Liabilities [Abstract]    
Wage and other employee-related accrued expenses $ 41 $ 64
Accrued tax expense 162 152
Accrued insurance expense 31 39
Accrued interest expense 89 82
Dealer deposits 24 24
Accrued environmental expense 8 7
Contract liabilities 12 17
Other 81 72
Total $ 448 $ 457
v3.25.2
Debt Obligations (Details) - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2025
Jun. 01, 2025
Dec. 31, 2024
Debt Instrument [Line Items]      
Lease-related financing obligations $ 131,000   $ 132,000
Debt Instrument, Unamortized Discount (Premium), Net 16,000   16,000
Total debt 7,805,000   7,486,000
Current maturities of long-term debt 2,000   2,000
Debt Issuance Costs, Net (45,000)   (37,000)
Total long-term debt, net 7,803,000   7,484,000
Long-term Debt, Fair Value 7,920,000   7,450,000
Revolving Credit Facility due June 2030      
Debt Instrument [Line Items]      
Credit Facility 206,000    
Line of Credit Facility, Current Borrowing Capacity 1,500,000    
Line of Credit Facility, Maximum Borrowing Capacity $ 2,000,000    
6.00% Senior Notes due 2027      
Debt Instrument [Line Items]      
Debt Instrument, Interest Rate, Stated Percentage 6.00%    
Senior Notes $ 600,000   600,000
5.875% Senior Notes due 2028      
Debt Instrument [Line Items]      
Debt Instrument, Interest Rate, Stated Percentage 5.875%    
Senior Notes $ 400,000   400,000
4.5% Senior Notes due 2029      
Debt Instrument [Line Items]      
Debt Instrument, Interest Rate, Stated Percentage 4.50%    
Senior Notes $ 800,000   800,000
4.5% Senior Notes due 2030      
Debt Instrument [Line Items]      
Debt Instrument, Interest Rate, Stated Percentage 4.50%    
Senior Notes $ 800,000   800,000
7.00% Senior Notes due 2028      
Debt Instrument [Line Items]      
Debt Instrument, Interest Rate, Stated Percentage 7.00%    
Senior Notes $ 500,000   500,000
7.25% Senior Notes due 2032      
Debt Instrument [Line Items]      
Debt Instrument, Interest Rate, Stated Percentage 7.25%    
Senior Notes $ 750,000   750,000
Due April 2027 | Revolving Credit Agreement [Member]      
Debt Instrument [Line Items]      
Credit Facility     203,000
5.75% Senior Notes due 2025      
Debt Instrument [Line Items]      
Debt Instrument, Interest Rate, Stated Percentage 5.75%    
Senior Notes $ 0    
Debt Instrument, Face Amount     600,000
6.00% Senior Notes due 2026      
Debt Instrument [Line Items]      
Debt Instrument, Interest Rate, Stated Percentage 6.00%    
Senior Notes $ 500,000   500,000
5.625% Senior Notes due 2027      
Debt Instrument [Line Items]      
Debt Instrument, Interest Rate, Stated Percentage 5.625%    
Senior Notes $ 550,000   550,000
7.00% Senior Notes due 2029      
Debt Instrument [Line Items]      
Debt Instrument, Interest Rate, Stated Percentage 7.00%    
Senior Notes $ 750,000   750,000
6.375% Senior Notes due 2030      
Debt Instrument [Line Items]      
Debt Instrument, Interest Rate, Stated Percentage 6.375%    
Senior Notes $ 600,000   600,000
GoZone Bonds      
Debt Instrument [Line Items]      
Senior Notes [1] $ 247,000   322,000
Debt Instrument, Redemption Price, Percentage 101.00%    
Debt Instrument, Repurchased Face Amount   $ 75,000  
Series 2008      
Debt Instrument [Line Items]      
Debt Instrument, Interest Rate, Stated Percentage 6.10%    
Senior Notes $ 56,000    
Debt Instrument, Maturity Date Jun. 01, 2038    
Debt Instrument, Issuance Date Jun. 26, 2008    
Series 2010      
Debt Instrument [Line Items]      
Debt Instrument, Interest Rate, Stated Percentage 6.35%    
Senior Notes $ 100,000    
Debt Instrument, Maturity Date Jul. 01, 2040    
Debt Instrument, Issuance Date Jul. 15, 2010    
Series 2010A      
Debt Instrument [Line Items]      
Debt Instrument, Interest Rate, Stated Percentage 6.35%    
Senior Notes $ 43,000    
Debt Instrument, Maturity Date Oct. 01, 2040    
Debt Instrument, Issuance Date Oct. 07, 2010    
Series 2010B      
Debt Instrument [Line Items]      
Debt Instrument, Interest Rate, Stated Percentage 6.10%    
Senior Notes $ 48,000    
Debt Instrument, Maturity Date Dec. 01, 2040    
Debt Instrument, Issuance Date Dec. 29, 2010    
6.250% senior notes due 2033      
Debt Instrument [Line Items]      
Debt Instrument, Interest Rate, Stated Percentage 6.25%    
Senior Notes     $ 0
Debt Instrument, Face Amount $ 1,000,000    
Senior notes due 2033      
Debt Instrument [Line Items]      
Debt Instrument, Interest Rate, Stated Percentage 625.00%    
[1] As of June 30, 2025, $500 million aggregate principal amount of 6.000% senior notes due before June 30, 2026 were classified as long-term as management has the intent and ability to refinance the borrowings on a long-term basis.
v3.25.2
Debt Obligations (Revolving Credit Agreement) (Details) - USD ($)
$ in Millions
Jun. 30, 2025
Dec. 31, 2024
Revolving Credit Agreement [Member] | Due April 2027    
Debt Instrument [Line Items]    
Revolving credit facility   $ 203
NuStar Credit Facility    
Debt Instrument [Line Items]    
Revolving credit facility $ 0  
Revolving Credit Facility due June 2030    
Debt Instrument [Line Items]    
Revolving credit facility 206  
Letters of Credit Outstanding, Amount 51  
Line of Credit Facility, Current Borrowing Capacity 1,500  
Line of Credit Facility, Maximum Borrowing Capacity 2,000  
Line of Credit Facility, Remaining Borrowing Capacity $ 1,240  
Line of Credit Facility, Interest Rate at Period End 6.42%  
Revolving Credit Facility due June 2030 | Parkland    
Debt Instrument [Line Items]    
Line of Credit Facility, Current Borrowing Capacity $ 2,460  
Line of Credit Facility, Maximum Borrowing Capacity 3,500  
Letter of Credit    
Debt Instrument [Line Items]    
Line of Credit Facility, Maximum Borrowing Capacity 100  
Letter of Credit | Parkland    
Debt Instrument [Line Items]    
Line of Credit Facility, Maximum Borrowing Capacity 250  
Swingline Sublimit    
Debt Instrument [Line Items]    
Line of Credit Facility, Maximum Borrowing Capacity 100  
Swingline Sublimit | Parkland    
Debt Instrument [Line Items]    
Line of Credit Facility, Maximum Borrowing Capacity 500  
Swingline Sublimit | Parkland | Canada, Dollars    
Debt Instrument [Line Items]    
Line of Credit Facility, Maximum Borrowing Capacity 250  
Swingline Sublimit | Parkland | United States of America, Dollars    
Debt Instrument [Line Items]    
Line of Credit Facility, Maximum Borrowing Capacity 250  
Bridge Loan    
Debt Instrument [Line Items]    
Line of Credit Facility, Maximum Borrowing Capacity 2,650  
Bridge Loan | Parkland    
Debt Instrument [Line Items]    
Line of Credit Facility, Maximum Borrowing Capacity $ 3,400  
v3.25.2
Debt Obligations (Fair Value Measurements) (Details) - USD ($)
$ in Thousands
Jun. 30, 2025
Dec. 31, 2024
Fair Value Measurements [Abstract]    
Long-term Debt, Fair Value $ 7,920,000 $ 7,450,000
v3.25.2
Other Noncurrent Liabilities (Details) - USD ($)
$ in Millions
Jun. 30, 2025
Dec. 31, 2024
Other Liabilities Disclosure [Abstract]    
Asset retirement obligations $ 87 $ 84
Accrued environmental expense, long-term 18 21
Other 45 53
Other non-current liabilities $ 150 $ 158
v3.25.2
Related-Party Transactions (Details) - USD ($)
$ in Millions
 3 Months Ended 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
Dec. 31, 2024
Related Party Transaction [Line Items]          
Revenues $ 5,390 $ 6,174 $ 10,569 $ 11,673  
Disaggregation of Income Statement Expense, Caption, Reimbursement to Another Entity, Amount 10 8 21 17  
Accounts Payable, Other, Current 221   221   $ 199
Related Party          
Related Party Transaction [Line Items]          
Revenues 5,550   8,900    
Advances from affiliates 77   77   $ 82
Wholesale motor fuel sales to affiliates [Member] | Related Party          
Related Party Transaction [Line Items]          
Revenues 5 0 7 4  
Wholesale Motor Fuel [Member]          
Related Party Transaction [Line Items]          
Related Party Transaction, Purchases from Related Party $ 323 $ 373 $ 617 $ 770  
v3.25.2
Revenue (Disaggregation of Revenue) (Details) - USD ($)
$ in Millions
 3 Months Ended 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
Disaggregation of Revenue [Line Items]        
Revenues $ 5,390 $ 6,174 $ 10,569 $ 11,673
Lease Income [Member]        
Disaggregation of Revenue [Line Items]        
Revenues 30 30 59 68
Fuel        
Disaggregation of Revenue [Line Items]        
Revenues 4,991 5,797 9,798 11,151
Non-Fuel        
Disaggregation of Revenue [Line Items]        
Revenues 75 81 142 146
Other        
Disaggregation of Revenue [Line Items]        
Revenues 100 108 191 134
Pipeline throughput        
Disaggregation of Revenue [Line Items]        
Revenues 163 138 321 138
Terminal throughput        
Disaggregation of Revenue [Line Items]        
Revenues 31 $ 20 58 $ 36
Terminals | Lease Income [Member]        
Disaggregation of Revenue [Line Items]        
Revenues $ 12   $ 24  
v3.25.2
Revenue (Contract Balances with Customer) (Details) - USD ($)
$ in Millions
 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Dec. 31, 2024
Dec. 31, 2023
Capitalized Contract Cost [Line Items]        
Accounts receivable from contracts with customers $ 962   $ 1,084  
Contract liabilities 33 $ 81 39 $ 0
Additions 10 19    
Revenue recognized (16) (19)    
Contract assets $ 329   $ 288  
NuStar Acquisition        
Capitalized Contract Cost [Line Items]        
Additions   78    
Zenith European Terminals acquisition        
Capitalized Contract Cost [Line Items]        
Additions   $ 3    
v3.25.2
Revenue - Remaining Performance Obligation (Details) - USD ($)
$ in Millions
 3 Months Ended 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]        
Revenue, Remaining Performance Obligation, Amount $ 1,244   $ 1,244  
Capitalized Contract Cost, Amortization 10 $ 9    
Additions     10 $ 19
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-07-01        
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]        
Revenue, Remaining Performance Obligation, Amount $ 201   $ 201  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Year 2025   2025  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period 6 months   6 months  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2026-01-01        
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]        
Revenue, Remaining Performance Obligation, Amount $ 301   $ 301  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Year 2026   2026  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period 1 year 6 months   1 year 6 months  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2027-01-01        
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]        
Revenue, Remaining Performance Obligation, Amount $ 202   $ 202  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Year 2027   2027  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period 2 years 6 months   2 years 6 months  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2028-01-01        
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]        
Revenue, Remaining Performance Obligation, Amount $ 155   $ 155  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Year 2028   2028  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period 3 years 6 months   3 years 6 months  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2029-01-01        
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]        
Revenue, Remaining Performance Obligation, Amount $ 110   $ 110  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Year 2029   2029  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period 4 years 6 months   4 years 6 months  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2030-01-01        
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]        
Revenue, Remaining Performance Obligation, Amount $ 275   $ 275  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period 5 years 6 months   5 years 6 months  
v3.25.2
Commitments And Contingencies (Details)
$ in Millions
 6 Months Ended
Jun. 30, 2025
USD ($)
New York Motor Fuel Excise Tax Audit  
Loss Contingencies [Line Items]  
Loss Contingency, Damages Sought, Value $ 20
v3.25.2
Equity (Details) - USD ($)
$ in Millions
 6 Months Ended 12 Months Ended
Jun. 30, 2025
Dec. 31, 2024
Schedule of Partners' Capital [Line Items]    
Foreign currency translation adjustment $ (4) $ (1)
Actuarial gains related to pensions and other postretirement benefits 2 3
Total AOCI included in partners’ capital, net of tax $ (2) $ 2
Common Units    
Schedule of Partners' Capital [Line Items]    
Limited Partners' Capital Account, Units Outstanding 108,139,215  
Common Units [Member]    
Schedule of Partners' Capital [Line Items]    
Limited Partners' Capital Account, Units Outstanding 136,603,182 136,228,535
Class C Units [Member]    
Schedule of Partners' Capital [Line Items]    
Limited Partners' Capital Account, Units Outstanding   16,410,780
Subsidiaries [Member] | Class C Units [Member]    
Schedule of Partners' Capital [Line Items]    
Limited Partners' Capital Account, Units Outstanding 16,410,780  
Energy Transfer | Common Units [Member]    
Schedule of Partners' Capital [Line Items]    
Limited Partners' Capital Account, Units Outstanding 28,463,967  
v3.25.2
Equity (Schedule of Common Units) (Details) - Common Units [Member]
 6 Months Ended
Jun. 30, 2025
shares
Class of Stock [Line Items]  
Number of common units at December 31, 2024 136,228,535
Phantom unit vesting 31,225
Number of common units at June 30, 2025 136,603,182
v3.25.2
Equity (Cash Distributions) (Details) - USD ($)
$ / shares in Units, $ in Millions
 6 Months Ended
Aug. 19, 2025
May 20, 2025
Feb. 19, 2025
Jun. 30, 2025
Jun. 30, 2024
Distribution Made To Managing Member Or General Partner [Line Items]          
Per Unit Distribution (in dollars per unit)   $ 0.8976 $ 0.8865    
Total Cash Distribution   $ 122 $ 121 $ 322 $ 249
General Partner          
Distribution Made To Managing Member Or General Partner [Line Items]          
Total Cash Distribution   $ 39 $ 37    
Subsequent Event [Member]          
Distribution Made To Managing Member Or General Partner [Line Items]          
Per Unit Distribution (in dollars per unit) $ 0.9088        
Total Cash Distribution $ 124        
Subsequent Event [Member] | General Partner          
Distribution Made To Managing Member Or General Partner [Line Items]          
Total Cash Distribution $ 41        
v3.25.2
Segment Reporting (Details) - USD ($)
$ in Millions
 3 Months Ended 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Mar. 31, 2024
Jun. 30, 2025
Jun. 30, 2024
Dec. 31, 2024
Segment Reporting Information [Line Items]            
Revenues $ 5,390 $ 6,174   $ 10,569 $ 11,673  
Interest Expense, Operating and Nonoperating 123 95   244 158  
Depreciation, amortization and accretion 154 78   310 121  
Non-cash unit-based compensation expense 5 4   9 8  
Unrealized Gain (Loss) on Derivatives and Commodity Contracts (7) (6)   (8) 7  
Loss on extinguishment of debt 17 2   19 2  
Other non-cash adjustments 11 10   22 19  
Adjusted EBITDA 454 320   912 562  
Income tax expense 7 149   5 156  
Loss on extinguishment of debt (17) (2)   (19) (2)  
Equity in earnings of unconsolidated affiliates (31) (2)   (63) (4)  
Adjusted EBITDA related to unconsolidated affiliates 51 3   101 6  
Assets 14,428     14,428   $ 14,375
Cost of sales 4,821 5,609   9,347 10,624  
Operating expenses, excluding non-cash unit-based compensation 162 149   320 254  
General and administrative expense, excluding non-cash unit-based compensation 47 132   83 165  
Other [1] (94) (36)   (93) 68  
NET INCOME 86 501 $ 230 293 731  
Total Segment Assets            
Segment Reporting Information [Line Items]            
Assets 14,236     14,236   14,204
Other partnership assets            
Segment Reporting Information [Line Items]            
Assets 192     192   171
Intersegment Eliminations            
Segment Reporting Information [Line Items]            
Revenues (240) (265)   (490) (531)  
Cost of sales (240) (265)   (490) (531)  
Fuel Distribution            
Segment Reporting Information [Line Items]            
Adjusted EBITDA 206 245   426 463  
Assets 5,932     $ 5,932   6,047
Segment Reporting Information, Description of Products and Services       Our Fuel Distribution segment supplies motor fuel to independently-operated dealer stations, distributors, commission agents and other consumers. Also included in our Fuel Distribution segment is lease income from properties that we lease or sublease, as well as the Partnership’s credit card services, franchise royalties and retail operations in Hawaii and New Jersey.    
Fuel Distribution | Operating Segments            
Segment Reporting Information [Line Items]            
Revenues 5,105 5,919   $ 10,021 11,385  
Cost of sales 4,843 5,615   9,398 10,664  
Operating expenses, excluding non-cash unit-based compensation 74 73   146 156  
General and administrative expense, excluding non-cash unit-based compensation 26 20   46 43  
Other [1] (44) (34)   5 59  
Fuel Distribution | Operating Segments | Revenues from external customers            
Segment Reporting Information [Line Items]            
Revenues 5,096 5,908   9,999 11,365  
Fuel Distribution | Operating Segments | Intersegment revenues            
Segment Reporting Information [Line Items]            
Revenues 9 11   22 20  
Pipeline Systems            
Segment Reporting Information [Line Items]            
Adjusted EBITDA 177 53   349 53  
Assets 6,086     $ 6,086   6,213
Segment Reporting Information, Description of Products and Services       Our Pipeline Systems segment includes an integrated pipeline and terminal network comprised of approximately 6,000 miles of refined product pipeline (including the pipeline of J.C. Nolan), approximately 6,000 miles of crude oil pipeline (including the pipeline of ET-S Permian), approximately 2,000 miles of ammonia pipeline and 67 terminals.    
Pipeline Systems | Operating Segments            
Segment Reporting Information [Line Items]            
Revenues 182 178   $ 356 178  
Cost of sales (1) 6   (1) 5  
Operating expenses, excluding non-cash unit-based compensation 45 38   89 39  
General and administrative expense, excluding non-cash unit-based compensation 11 83   20 86  
Other [1] (50) (2)   (101) (5)  
Pipeline Systems | Operating Segments | Revenues from external customers            
Segment Reporting Information [Line Items]            
Revenues 181 177   354 177  
Pipeline Systems | Operating Segments | Intersegment revenues            
Segment Reporting Information [Line Items]            
Revenues 1 1   2 1  
Terminals            
Segment Reporting Information [Line Items]            
Adjusted EBITDA 71 22   137 46  
Assets 2,218     $ 2,218   $ 1,944
Segment Reporting Information, Description of Products and Services       Our Terminals segment is composed of four transmix processing facilities and 56 refined product terminals (two in Europe, six in Hawaii and 48 in the continental United States).    
Terminals | Operating Segments            
Segment Reporting Information [Line Items]            
Revenues 343 342   $ 682 641  
Cost of sales 219 253   440 486  
Operating expenses, excluding non-cash unit-based compensation 43 38   85 59  
General and administrative expense, excluding non-cash unit-based compensation 10 29   17 36  
Other [1] 0 0   3 14  
Terminals | Operating Segments | Revenues from external customers            
Segment Reporting Information [Line Items]            
Revenues 113 89   216 131  
Terminals | Operating Segments | Intersegment revenues            
Segment Reporting Information [Line Items]            
Revenues $ 230 $ 253   $ 466 $ 510  
[1] Other includes Adjusted EBITDA from unconsolidated affiliates, unrealized gains and losses on commodity derivatives, inventory valuation adjustments and other less significant items, as applicable.
v3.25.2
Net Income per Common Unit (Details) - USD ($)
$ / shares in Units, $ in Millions
 3 Months Ended 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Mar. 31, 2024
Jun. 30, 2025
Jun. 30, 2024
Earnings Per Share Basic [Line Items]          
NET INCOME $ 86 $ 501 $ 230 $ 293 $ 731
Incentive distribution rights 40 36   79 72
Distributions on unvested phantom unit awards $ 1 $ 2   $ 3 $ 3
Net income per common unit:          
Basic $ 0.33 $ 3.88   $ 1.55 $ 6.43
Diluted $ 0.33 $ 3.85   $ 1.54 $ 6.37
Less: Net income attributable to noncontrolling interests $ 0 $ 8   $ 0 $ 8
Common Units [Member]          
Earnings Per Share Basic [Line Items]          
Common unitholders’ interest in net income $ 45 $ 455   $ 211 $ 648
Weighted average common units outstanding:          
Basic 136,432,676 117,271,408   136,350,550 100,848,078
Dilutive effect of unvested phantom unit awards 713,343 783,450   690,396 808,998
Diluted 137,146,019 118,054,858   137,040,946 101,657,076