Consolidated Balance Sheets (Parenthetical) |
Mar. 31, 2022
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Common Units [Member] | |
Equity: | |
Limited Partners' Capital Account, Units Outstanding | 83,688,670 |
Class C Units [Member] | |
Equity: | |
Limited Partners' Capital Account, Units Issued | 16,410,780 |
Consolidated Statement of Equity $ in Millions |
USD ($) |
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Beginning balance at Dec. 31, 2020 | $ 632 |
Cash distribution to unitholders | (88) |
Unit-based compensation | 4 |
Partners' Capital, Other | (4) |
Partnership net income (loss) | 154 |
Ending balance at Mar. 31, 2021 | 698 |
Beginning balance at Dec. 31, 2021 | 811 |
Cash distribution to unitholders | (88) |
Unit-based compensation | 5 |
Partnership net income (loss) | 216 |
Ending balance at Mar. 31, 2022 | $ 944 |
Organization and Principles of Consolidation |
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Mar. 31, 2022 | |
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,” “SUN,” “we,” “us,” and “our” should be understood to refer to Sunoco LP and our consolidated subsidiaries, unless the context clearly indicates otherwise. We are a Delaware master limited partnership. We are managed by our general partner, Sunoco GP LLC ( our “General Partner”), which is owned by Energy Transfer LP (“Energy Transfer”). As of March 31, 2022, Energy Transfer owned 100% of the limited liability company interests in our General Partner, 28,463,967 of our common units, which constitutes a 28.4% limited partner interest in us, and all of our incentive distribution rights ("IDRs"). The consolidated financial statements are composed of Sunoco LP, a publicly traded Delaware limited partnership, and its wholly‑owned subsidiaries. All significant intercompany accounts and transactions have been eliminated in consolidation. Certain items have been reclassified for presentation purposes to conform to the accounting policies of the consolidated entity. These reclassifications had no material impact on operating income, net income and comprehensive income, the balance sheets or statements of cash flows.
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Summary of Significant Accounting Policies |
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Mar. 31, 2022 | |
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 U.S. generally accepted accounting principles (“GAAP”). Pursuant to Regulation S-X, certain information and disclosures normally included in the annual 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, 2021 filed with the Securities and Exchange Commission ("SEC") on February 18, 2022. Significant Accounting Policies As of March 31, 2022, there have been no changes in the Partnership's significant accounting policies from those described in the Annual Report on Form 10-K for the year ended December 31, 2021 filed with the SEC on February 18, 2022. 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 $71 million and $76 million for the three months ended March 31, 2022 and 2021, respectively. Merchandise sales and cost of merchandise sales are reported net of sales tax in the consolidated statements of operations and comprehensive income.
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Accounts Receivable, net |
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Accounts Receivable, after Allowance for Credit Loss [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Accounts Receivable, net | Accounts Receivable, net Accounts receivable, net, consisted of the following:
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Inventories, net |
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Inventory Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Inventories, net | Inventories, net Fuel inventories are stated at the lower of cost or market using the last-in-first-out (“LIFO”) method. As of March 31, 2022 and December 31, 2021, the Partnership’s fuel inventory balance included lower of cost or market reserves of zero and $121 million, respectively. The fuel inventory replacement cost was $112 million higher than the fuel inventory balance as of March 31, 2022. For the three months ended March 31, 2022 and 2021, the Partnership’s consolidated statements of operations and comprehensive income did not include any material amounts of income from the liquidation of LIFO fuel inventory. For the three months ended March 31, 2022 and 2021, the Partnership's cost of sales included favorable inventory adjustments of $120 million and $100 million, respectively. Inventories, net, consisted of the following:
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Accrued Expenses and Other Current Liabilities |
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Accrued Expenses and Other Current Liabilities | Accrued Expenses and Other Current Liabilities Accrued expenses and other current liabilities consisted of the following:
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Long-Term Debt |
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Debt Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Long-Term Debt | Long-Term Debt Long-term debt consisted of the following:
Revolving Credit Agreement As of March 31, 2022, the balance on the 2018 Revolver was $1.0 billion, and $6 million in standby letters of credit were outstanding. The unused availability on the 2018 Revolver at March 31, 2022 was $0.5 billion. The weighted average interest rate on the total amount outstanding at March 31, 2022 was 2.40%. The Partnership was in compliance with all financial covenants at March 31, 2022. On April 7, 2022, we entered into a Second Amended and Restated Credit Agreement with Bank of America, N.A., as Administrative Agent, Collateral Agent, Swingline Lender and a letter of credit issuer (the “Credit Agreement”). The maturity date of the Credit Agreement was extended to April 7, 2027 from July 27, 2023. Fair Value of Debt The estimated fair value of debt is calculated using Level 2 inputs. The fair value of debt as of March 31, 2022 is estimated to be approximately $3.6 billion, based on outstanding balances as of the end of the period using current interest rates for similar securities.
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Other Noncurrent Liabilities (Notes) |
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Other Liabilities Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Other Liabilities Disclosure [Text Block] | Other Noncurrent Liabilities Other noncurrent liabilities consisted of the following:
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Related-Party Transactions |
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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. Our investment in the J.C. Nolan pipeline (a joint venture with Energy Transfer) was $132 million and $132 million as of March 31, 2022 and December 31, 2021, respectively. In addition, we recorded income on the unconsolidated joint venture of $1 million for each of the three months ended March 31, 2022 and 2021. Summary of Transactions Related party transactions with affiliates for the three months ended March 31, 2022 and 2021 were as follows (in millions):
Significant affiliate balances included on the consolidated balance sheets are as follows: •Net advances from affiliates were $121 million and $126 million as of March 31, 2022 and December 31, 2021, respectively, related to treasury services agreements with Energy Transfer. •Net accounts receivable from affiliates were $13 million and $12 million as of March 31, 2022 and December 31, 2021, respectively, which are primarily related to motor fuel sales to affiliates. •Net accounts payable to affiliates were $77 million and $59 million as of March 31, 2022 and December 31, 2021, respectively, attributable to operational expenses and bulk fuel purchases.
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Revenue (Notes) |
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Revenue from Contract with Customer [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Revenue from Contract with Customer [Text Block] | Revenue Disaggregation of Revenue We operate our business in two primary segments, Fuel Distribution and Marketing and All Other. We disaggregate revenue within the segments by channels. The following table depicts the disaggregation of revenue by channel within each segment:
Contract Balances with Customers The balances of the Partnership’s contract assets and contract liabilities as of March 31, 2022 and December 31, 2021 are as follows:
Costs to Obtain or Fulfill a Contract For the three months ended March 31, 2022 and 2021, the Partnership recognized $7 million and $4 million, respectively, of amortization on capitalized costs incurred to obtain contracts.
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Commitments And Contingencies |
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Commitments and Contingencies | Commitments and Contingencies Litigation We have at various points and may in the future become involved in various legal proceedings arising out of our operations in the normal course of business. These proceedings would be subject to the uncertainties inherent in any litigation, and we regularly assess the need for accounting recognition or disclosure of these contingencies. We would expect to defend ourselves vigorously in all such matters. 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. Lessee Accounting The details of the Partnership's operating and finance lease liabilities are as follows:
Lessor Accounting The Partnership leases or subleases a portion of its real estate portfolio to third party companies as a stable source of long-term revenue. Our lessor and sublease portfolio consists mainly of operating leases with convenience store operators. At this time, most lessor agreements contain 5-year terms with renewal options to extend and early termination options based on established terms specific to the individual agreement.
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Income Tax Expense |
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Income Tax Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Income Tax Expense | Income Tax Expense As a partnership, we are generally not subject to federal income tax and most state income taxes. However, the Partnership conducts certain activities through corporate subsidiaries which are subject to federal and state income taxes. Our effective tax rate differs from the statutory rate primarily due to Partnership earnings that are not subject to U.S. federal and most state income taxes at the Partnership level. A reconciliation of income tax expense from continuing operations at the U.S. federal statutory rate of 21% to net income tax expense is as follows:
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Partners' Capital |
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Partners' Capital [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Partners' Capital | Partners' Capital As of March 31, 2022, Energy Transfer and its subsidiaries owned 28,463,967 common units, which constitutes a 28.4% limited partner interest in the Partnership. As of March 31, 2022, our wholly-owned consolidated subsidiaries owned 16,410,780 Class C units representing limited partner interests in the Partnership (the “Class C Units”) and the public owned 55,224,703 common units. Common Units The change in our outstanding common units for the three months ended March 31, 2022 was as follows:
Allocation of Net Income Our Partnership Agreement contains provisions for the allocation of net income and loss to the unitholders. For purposes of maintaining partner capital accounts, the Partnership Agreement specifies that items of income and loss shall be allocated among the partners in accordance with their respective percentage interest. Normal allocations according to percentage interests are made after giving effect to incentive cash distributions, which are allocated 100% to Energy Transfer. The calculation of net income allocated to the partners was as follows (in millions):
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 during 2022 were as follows:
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Segment Reporting |
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Segment Reporting [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Segment Reporting Disclosure [Text Block] | Segment Reporting Our financial statements reflect two reportable segments, Fuel Distribution and Marketing and All Other. We report Adjusted EBITDA by segment as a measure of segment performance. We define Adjusted EBITDA as earnings before net interest expense, income tax expense and depreciation, amortization and accretion expense, non-cash unit-based compensation expense, gains and losses on disposal of assets and non-cash impairment charges, unrealized gains and losses on commodity derivatives, inventory adjustments, and certain other operating expenses reflected in net income that we do not believe are indicative of ongoing core operations. Inventory 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 table presents financial information by segment for the three months ended March 31, 2022 and 2021:
________________________________ (1) Excludes depreciation, amortization and accretion.
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Net Income per Unit |
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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:
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Subsequent Events |
3 Months Ended |
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Mar. 31, 2022 | |
Subsequent Events [Abstract] | |
Subsequent Events | Subsequent EventOn April 1, 2022, we completed the previously announced acquisition of a transmix processing and terminal facility in Huntington, Indiana from Gladieux Capital Partners, LLC for $264 million. The funding for this acquisition was made on March 31, 2022. The facility is the largest transmix plant in North America with a processing capacity of 23,000 barrels per day and onsite product storage of approximately 750,000 barrels.As of March 31, 2022, the Partnership's consolidated balance sheet included a cash deposit of $264 million in other current assets related to this acquisition. |
Organization and Principles of Consolidation Organization and Principles of Consolidation (Policies) |
3 Months Ended |
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Mar. 31, 2022 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Basis of Presentation and Significant Accounting Policies [Text Block] | Certain items have been reclassified for presentation purposes to conform to the accounting policies of the consolidated entity. These reclassifications had no material impact on operating income, net income and comprehensive income, the balance sheets or statements of cash flows. |
Summary of Significant Accounting Policies (Policies) |
3 Months Ended |
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Mar. 31, 2022 | |
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 U.S. generally accepted accounting principles (“GAAP”). Pursuant to Regulation S-X, certain information and disclosures normally included in the annual 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, 2021 filed with the Securities and Exchange Commission ("SEC") on February 18, 2022.
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Recently Issued Accounting Pronouncements | Significant Accounting PoliciesAs of March 31, 2022, there have been no changes in the Partnership's significant accounting policies from those described in the Annual Report on Form 10-K for the year ended December 31, 2021 filed with the SEC on February 18, 2022. |
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 $71 million and $76 million for the three months ended March 31, 2022 and 2021, respectively. Merchandise sales and cost of merchandise sales are reported net of sales tax in the consolidated statements of operations and comprehensive income.
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Inventory (Policies) |
3 Months Ended |
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Mar. 31, 2022 | |
Inventory Disclosure [Abstract] | |
Inventory, Policy | Fuel inventories are stated at the lower of cost or market using the last-in-first-out (“LIFO”) method. As of March 31, 2022 and December 31, 2021, the Partnership’s fuel inventory balance included lower of cost or market reserves of zero and $121 million, respectively. The fuel inventory replacement cost was $112 million higher than the fuel inventory balance as of March 31, 2022. For the three months ended March 31, 2022 and 2021, the Partnership’s consolidated statements of operations and comprehensive income did not include any material amounts of income from the liquidation of LIFO fuel inventory. For the three months ended March 31, 2022 and 2021, the Partnership's cost of sales included favorable inventory adjustments of $120 million and $100 million, respectively. |
Revenue from Contract with Customer (Policies) |
3 Months Ended |
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Mar. 31, 2022 | |
Revenue from Contract with Customer [Abstract] | |
Revenue | Contract Balances with CustomersCosts to Obtain or Fulfill a ContractFor the three months ended March 31, 2022 and 2021, the Partnership recognized $7 million and $4 million, respectively, of amortization on capitalized costs incurred to obtain contracts. |
Partners' Capital Partners' Capital (Policies) |
3 Months Ended |
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Mar. 31, 2022 | |
Partners' Capital [Abstract] | |
Allocation of net income [Policy Text Block] | Allocation of Net Income Our Partnership Agreement contains provisions for the allocation of net income and loss to the unitholders. For purposes of maintaining partner capital accounts, the Partnership Agreement specifies that items of income and loss shall be allocated among the partners in accordance with their respective percentage interest. Normal allocations according to percentage interests are made after giving effect to incentive cash distributions, which are allocated 100% to Energy Transfer.
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Accounts Receivable, net (Tables) |
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Accounts Receivable, after Allowance for Credit Loss [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule of Accounts Receivable | Accounts receivable, net, consisted of the following:
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Inventories, net (Tables) |
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Inventory Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule of Inventories | Inventories, net, consisted of the following:
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Accrued Expenses and Other Current Liabilities (Tables) |
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Accrued Expenses And Other Current Liabilities [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule of Accrued Liabilities | Accrued expenses and other current liabilities consisted of the following:
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Long-Term Debt (Tables) |
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Debt Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule of Long-term Debt | Long-term debt consisted of the following:
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Other Noncurrent Liabilities (Tables) |
3 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Other Liabilities Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Other Noncurrent Liabilities [Table Text Block] |
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Related-Party Transactions (Tables) |
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Related Party Transactions [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule of Related Party Transactions [Table Text Block] | Related party transactions with affiliates for the three months ended March 31, 2022 and 2021 were as follows (in millions):
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Revenue (Tables) |
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Revenue from Contract with Customer [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Disaggregation of Revenue [Table Text Block] | The following table depicts the disaggregation of revenue by channel within each segment:
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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 March 31, 2022 and December 31, 2021 are as follows:
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Commitments And Contingencies (Tables) |
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Leases [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Lease, Cost [Table Text Block] | The details of the Partnership's operating and finance lease liabilities are as follows:
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Lessee, Operating Lease, Liability, Maturity [Table Text Block] |
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Income Tax Expense (Tables) |
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Mar. 31, 2022 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Income Tax Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule of Effective Income Tax Rate Reconciliation | A reconciliation of income tax expense from continuing operations at the U.S. federal statutory rate of 21% to net income tax expense is as follows:
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Partners' Capital (Tables) |
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Mar. 31, 2022 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Partners' Capital [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule of Common Units | The change in our outstanding common units for the three months ended March 31, 2022 was as follows:
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Schedule of Net Income Allocation By Partners | The calculation of net income allocated to the partners was as follows (in millions):
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Distributions Made to Limited Partner, by Distribution | Cash distributions paid or declared during 2022 were as follows:
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Segment Reporting (Tables) |
3 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Mar. 31, 2022 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Segment Reporting [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule of Segment Reporting Information, by Segment [Table Text Block] |
________________________________ (1) Excludes depreciation, amortization and accretion.
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Net Income per Unit (Tables) |
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Mar. 31, 2022 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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:
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Organization and Principles of Consolidation - Additional Information (Details) |
3 Months Ended |
---|---|
Mar. 31, 2022 | |
Energy Transfer Operating, L.P. [Member] | |
Organization Consolidation And Presentation Of Financial Statements [Line Items] | |
Percentage of Common Units Owned | 28.40% |
Summary of Significant Accounting Policies - Additional Information (Details) - USD ($) $ in Millions |
3 Months Ended | |
---|---|---|
Mar. 31, 2022 |
Mar. 31, 2021 |
|
Accounting Policies [Abstract] | ||
Motor fuel and sales taxes | $ 71 | $ 76 |
Inventories, net - Additional Information (Details) - USD ($) $ in Millions |
3 Months Ended | ||
---|---|---|---|
Mar. 31, 2022 |
Mar. 31, 2021 |
Dec. 31, 2021 |
|
Inventory Disclosure [Abstract] | |||
Inventory Write-down | $ 120 | $ 100 | |
Inventory Adjustments | $ 121 | ||
Excess of Replacement or Current Costs over Stated LIFO Value | $ 112 |
Inventories, net (Details) - USD ($) $ in Millions |
Mar. 31, 2022 |
Dec. 31, 2021 |
---|---|---|
Inventory Disclosure [Abstract] | ||
Fuel | $ 694 | $ 526 |
Other | 10 | 8 |
Inventories, net | $ 704 | $ 534 |
Accrued Expenses and Other Current Liabilities (Details) - USD ($) $ in Millions |
Mar. 31, 2022 |
Dec. 31, 2021 |
---|---|---|
Accrued Expenses And Other Current Liabilities [Abstract] | ||
Wage and other employee-related accrued expenses | $ 14 | $ 23 |
Accrued tax expense | 124 | 152 |
Accrued insurance | 21 | 22 |
Accrued interest expense | 52 | 31 |
Dealer deposits | 21 | 21 |
Accrued environmental expense | 7 | 7 |
Other | 36 | 35 |
Total | $ 275 | $ 291 |
Long-Term Debt (Details) - USD ($) $ in Millions |
Mar. 31, 2022 |
Dec. 31, 2021 |
---|---|---|
Debt Instrument [Line Items] | ||
2018 Revolver | $ 1,012 | $ 581 |
Finance leases | 9 | 9 |
Total debt | 3,706 | 3,281 |
Less: current maturities | 0 | 6 |
Less: debt issuance costs | 26 | 26 |
Long-term debt, net | 3,680 | 3,249 |
Sales leaseback financial obligation | ||
Debt Instrument [Line Items] | ||
Long-term Debt | $ 85 | 91 |
6.00% Senior Notes due 2027 | ||
Debt Instrument [Line Items] | ||
Debt Instrument, Interest Rate, Stated Percentage | 6.00% | |
Senior Notes | $ 600 | 600 |
5.875% Senior Notes due 2028 | ||
Debt Instrument [Line Items] | ||
Debt Instrument, Interest Rate, Stated Percentage | 5.875% | |
Senior Notes | $ 400 | 400 |
4.5% Senior Notes due 2029 | ||
Debt Instrument [Line Items] | ||
Debt Instrument, Interest Rate, Stated Percentage | 4.50% | |
Senior Notes | $ 800 | 800 |
4.5% Senior Notes due 2030 | ||
Debt Instrument [Line Items] | ||
Debt Instrument, Interest Rate, Stated Percentage | 4.50% | |
Senior Notes | $ 800 | $ 800 |
Long-Term Debt (Revolving Credit Agreement) (Details) - USD ($) $ in Millions |
Mar. 31, 2022 |
Dec. 31, 2021 |
---|---|---|
Debt Instrument [Line Items] | ||
Revolving line of credit | $ 1,012 | $ 581 |
Revolving Credit Agreement [Member] | Two Thousand Eighteen Revolver [Member] | ||
Debt Instrument [Line Items] | ||
Revolving line of credit | 1,012 | $ 581 |
Letters of Credit Outstanding, Amount | 6 | |
Debt Instrument, Unused Borrowing Capacity, Amount | $ 500 | |
Debt, Weighted Average Interest Rate | 2.40% |
Long-Term Debt Fair Value Measurements (Details) $ in Billions |
Mar. 31, 2022
USD ($)
|
---|---|
Fair Value Measurements [Abstract] | |
Long-term Debt, Fair Value | $ 3.6 |
Other Noncurrent Liabilities (Details) - USD ($) $ in Millions |
Mar. 31, 2022 |
Dec. 31, 2021 |
---|---|---|
Other Liabilities Disclosure [Abstract] | ||
Reserve for underground storage tank removal | $ 80 | $ 79 |
Accrued environmental expense, long-term | 12 | 12 |
Other | 15 | 13 |
Other noncurrent liabilities | $ 107 | $ 104 |
Related-Party Transactions (Details) - USD ($) $ in Millions |
3 Months Ended | ||
---|---|---|---|
Mar. 31, 2022 |
Mar. 31, 2021 |
Dec. 31, 2021 |
|
Related Party Transaction [Line Items] | |||
Investment in unconsolidated affiliate | $ 132 | $ 132 | |
Equity in earnings of unconsolidated affiliate | 1 | $ 1 | |
Advances from affiliates | 121 | 126 | |
Receivables from affiliates | 13 | 12 | |
Accounts payable to affiliates | 77 | $ 59 | |
Wholesale motor fuel sales to affiliates [Member] | |||
Related Party Transaction [Line Items] | |||
Revenue from Related Parties | 5 | 2 | |
Wholesale Motor Fuel [Member] | |||
Related Party Transaction [Line Items] | |||
Related Party Transaction, Purchases from Related Party | $ 540 | $ 333 |
Revenue (Contract Balances with Customer) (Details) - USD ($) $ in Millions |
Mar. 31, 2022 |
Dec. 31, 2021 |
---|---|---|
Contract with Customer, Contract Asset, Contract Liability, and Receivable [Abstract] | ||
Contract assets | $ 168 | $ 157 |
Receivables from Customers | 637 | 463 |
Contract with Customer, Liability | $ 0 | $ 0 |
Revenue (Costs to Obtain or Fulfill a Contract) (Details) - USD ($) $ in Millions |
3 Months Ended | |
---|---|---|
Mar. 31, 2022 |
Mar. 31, 2021 |
|
Revenue from Contract with Customer [Abstract] | ||
Capitalized Contract Cost, Amortization | $ 7 | $ 4 |
Commitments And Contingencies (Lessor Disclosures) (Details) |
Mar. 31, 2022 |
---|---|
Lessor Disclosure [Abstract] | |
Lessor, Operating Lease, Term of Contract | 5 years |
Income Tax Expense (Details) - USD ($) $ in Millions |
3 Months Ended | |
---|---|---|
Mar. 31, 2022 |
Mar. 31, 2021 |
|
Income Tax Disclosure [Abstract] | ||
Income tax expense at statutory federal rate | $ 46 | $ 33 |
Partnership earnings not subject to tax | (44) | (31) |
State and local tax, net of federal benefit | 1 | 1 |
Net income tax expense | $ 3 | $ 3 |
Partners' Capital (Schedule of Common Units) (Details) - Common Units [Member] |
3 Months Ended |
---|---|
Mar. 31, 2022
shares
| |
Class of Stock [Line Items] | |
Number of common units at December 31, 2021 | 83,670,950 |
Vested phantom units exercised | 17,720 |
Number of common units at March 31, 2022 | 83,688,670 |
Partners' Capital (Allocations of Net Income) (Details) - Common Units [Member] - USD ($) $ in Millions |
3 Months Ended | |
---|---|---|
Mar. 31, 2022 |
Mar. 31, 2021 |
|
Schedule of Partners' Capital [Line Items] | ||
Distributions | $ 69 | $ 69 |
Distributions in excess of income | (127) | (65) |
Limited partners’ interest in net income | $ 196 | $ 134 |
Partners' Capital (Cash Distributions) (Details) - USD ($) $ / shares in Units, $ in Millions |
3 Months Ended | |||
---|---|---|---|---|
May 19, 2022 |
Feb. 18, 2022 |
Mar. 31, 2022 |
Mar. 31, 2021 |
|
Distribution Made To Managing Member Or General Partner [Line Items] | ||||
Per Unit Distribution (in dollars per unit) | $ 0.8255 | |||
Total Cash Distribution | $ 69 | $ 88 | $ 88 | |
General Partner | ||||
Distribution Made To Managing Member Or General Partner [Line Items] | ||||
Total Cash Distribution | $ 18 | |||
Subsequent Event [Member] | ||||
Distribution Made To Managing Member Or General Partner [Line Items] | ||||
Per Unit Distribution (in dollars per unit) | $ 0.8255 | |||
Total Cash Distribution | $ 69 | |||
Subsequent Event [Member] | General Partner | ||||
Distribution Made To Managing Member Or General Partner [Line Items] | ||||
Total Cash Distribution | $ 18 |
Segment Reporting - Additional Information (Details) |
3 Months Ended |
---|---|
Mar. 31, 2022
segment
| |
Segment Reporting [Abstract] | |
Number of Operating Segments | 2 |
Net Income per Unit (Details) - USD ($) $ / shares in Units, $ in Millions |
3 Months Ended | |
---|---|---|
Mar. 31, 2022 |
Mar. 31, 2021 |
|
Earnings Per Share Basic [Line Items] | ||
Net Income (Loss) Attributable to Parent | $ 216 | $ 154 |
Incentive distribution rights | 18 | 18 |
Distributions on nonvested phantom unit awards | $ 2 | $ 2 |
Weighted average common units outstanding: | ||
Common - basic (in shares) | 83,682,902 | 83,342,828 |
Common - diluted (in shares) | 84,729,202 | 84,141,261 |
Basic | $ 2.35 | $ 1.61 |
Diluted | $ 2.32 | $ 1.60 |
Common Units [Member] | ||
Earnings Per Share Basic [Line Items] | ||
Limited partners’ interest in net income | $ 196 | $ 134 |
Weighted average common units outstanding: | ||
Common - basic (in shares) | 83,682,902 | 83,342,828 |
Common - equivalents (in shares) | 1,046,300 | 798,433 |
Common - diluted (in shares) | 84,729,202 | 84,141,261 |
Subsequent Events (Details) - USD ($) $ in Millions |
3 Months Ended | |||
---|---|---|---|---|
Mar. 31, 2022 |
Mar. 31, 2022 |
Mar. 31, 2021 |
Apr. 01, 2022 |
|
Subsequent Event [Line Items] | ||||
Other Payments to Acquire Businesses | $ 264 | $ 264 | $ 0 | |
Subsequent Event [Member] | ||||
Subsequent Event [Line Items] | ||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Liabilities | $ 264 |