SUNOCO LP, 10-Q filed on 5/5/2022
Quarterly Report
v3.22.1
Document And Entity Information - shares
3 Months Ended
Mar. 31, 2022
Apr. 29, 2022
Document Information [Line Items]    
Document Type 10-Q  
Document Quarterly Report true  
Document Period End Date Mar. 31, 2022  
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 2022  
Document Fiscal Period Focus Q1  
Amendment Flag false  
Common Units [Member]    
Document Information [Line Items]    
Entity Partnership Units Outstanding   83,757,333
Common Class C [Member]    
Document Information [Line Items]    
Entity Partnership Units Outstanding   16,410,780
v3.22.1
Consolidated Balance Sheets - USD ($)
$ in Millions
Mar. 31, 2022
Dec. 31, 2021
Current assets:    
Cash and cash equivalents $ 104 $ 25
Accounts receivable, net 725 526
Receivables from affiliates 13 12
Inventories, net 704 534
Other current assets 478 95
Total current assets 2,024 1,192
Property and equipment 2,572 2,581
Accumulated depreciation (943) (914)
Property and equipment, net 1,629 1,667
Other assets:    
Finance lease right-of-use assets, net 9 9
Operating lease right-of-use assets, net 517 517
Goodwill 1,568 1,568
Intangible assets 902 902
Accumulated amortization (372) (360)
Intangible assets, net 530 542
Other noncurrent assets 196 188
Investment in unconsolidated affiliate 132 132
Total assets 6,605 5,815
Current liabilities:    
Accounts payable 705 515
Accounts payable to affiliates 77 59
Accrued expenses and other current liabilities 275 291
Operating lease current liabilities 19 19
Current maturities of long-term debt 0 6
Total current liabilities 1,076 890
Operating lease noncurrent liabilities 522 521
Revolving line of credit 1,012 581
Long-term debt, net 2,668 2,668
Advances from affiliates 121 126
Deferred tax liability 155 114
Other noncurrent liabilities 107 104
Total liabilities 5,661 5,004
Commitments and contingencies (Note 10)
Equity:    
Total equity 944 811
Total liabilities and equity 6,605 5,815
Common Units [Member]    
Equity:    
Total equity 944 811
Class C Units [Member]    
Equity:    
Total equity $ 0 $ 0
v3.22.1
Consolidated Balance Sheets (Parenthetical)
Mar. 31, 2022
shares
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
v3.22.1
Consolidated Statements of Operations and Comprehensive Income - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Revenues:    
Revenues $ 5,402 $ 3,471
Cost of sales and operating expenses:    
Cost of sales 4,972 3,120
General and administrative 27 24
Other operating 81 61
Lease expense 16 15
Depreciation, amortization and accretion 47 47
Total cost of sales and operating expenses 5,143 3,267
Operating income 259 204
Interest expense, net (41) (41)
Equity in earnings of unconsolidated affiliate 1 1
Other income (expense), net 0 (7)
Income before income taxes 219 157
Income tax expense 3 3
Net income and comprehensive income $ 216 $ 154
Net income (loss) per common unit:    
Basic $ 2.35 $ 1.61
Diluted $ 2.32 $ 1.60
Weighted average common units outstanding:    
Basic 83,682,902 83,342,828
Diluted 84,729,202 84,141,261
Cash distributions per unit $ 0.8255 $ 0.8255
Motor Fuel Sales [Member]    
Revenues:    
Revenues $ 5,277 $ 3,363
Non Motor Fuel Sales [Member]    
Revenues:    
Revenues 90 73
Lease Income [Member]    
Revenues:    
Revenues $ 35 $ 35
v3.22.1
Consolidated Statement of Equity
$ in Millions
USD ($)
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
v3.22.1
Consolidated Statements of Cash Flows - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Cash flows from operating activities:    
Net income (loss) and comprehensive income (loss) $ 216 $ 154
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation, amortization and accretion 47 47
Amortization of deferred financing fees 2 1
Other income (expense), net 0 7
Non-cash unit-based compensation expense 5 4
Deferred income tax (41) 1
Inventory valuation adjustment (120) (100)
Equity in earnings of unconsolidated affiliate (1) (1)
Changes in operating assets and liabilities, net of acquisitions:    
Accounts receivable, net (199) (115)
Receivables from affiliates (1) 0
Inventories, net (50) 52
Other assets (134) 0
Accounts payable 215 168
Accounts payable to affiliates 18 (17)
Accrued expenses and other current liabilities (16) (43)
Other noncurrent liabilities 0 (4)
Net cash provided by operating activities 23 152
Cash flows from investing activities:    
Capital expenditures (26) (18)
Deposit for acquisition (264) 0
Distributions from unconsolidated affiliate in excess of cumulative earnings 1 3
Proceeds from disposal of property and equipment 4 6
Net cash used in investing activities (285) (9)
Cash flows from financing activities:    
Payments on long-term debt (2) (438)
Revolver borrowings 1,445 472
Revolver repayments (1,014) (91)
Distributions to unitholders (88) (88)
Net cash provided by (used in) financing activities 341 (145)
Net increase (decrease) in cash and cash equivalents 79 (2)
Cash and cash equivalents at beginning of period 25 97
Cash and cash equivalents at end of period 104 95
Supplemental disclosure of non-cash investing activities:    
Change in note payable to affiliate $ (4) $ 6
v3.22.1
Organization and Principles of Consolidation
3 Months Ended
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.
v3.22.1
Summary of Significant Accounting Policies
3 Months Ended
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.
v3.22.1
Accounts Receivable, net
3 Months Ended
Mar. 31, 2022
Accounts Receivable, after Allowance for Credit Loss [Abstract]  
Accounts Receivable, net Accounts Receivable, net
Accounts receivable, net, consisted of the following:
March 31,
2022
December 31,
2021
(in millions)
Accounts receivable, trade$590 $428 
Credit card receivables50 37 
Vendor receivables for rebates and branding37 35 
Other receivables51 28 
Allowance for expected credit losses(3)(2)
Accounts receivable, net$725 $526 
v3.22.1
Inventories, net
3 Months Ended
Mar. 31, 2022
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:
March 31,
2022
December 31,
2021
(in millions)
Fuel$694 $526 
Other10 
Inventories, net$704 $534 
v3.22.1
Accrued Expenses and Other Current Liabilities
3 Months Ended
Mar. 31, 2022
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:
March 31,
2022
December 31,
2021
(in millions)
Wage and other employee-related accrued expenses$14 $23 
Accrued tax expense124 152 
Accrued insurance21 22 
Accrued interest expense52 31 
Dealer deposits21 21 
Accrued environmental expense
Other36 35 
Total$275 $291 
v3.22.1
Long-Term Debt
3 Months Ended
Mar. 31, 2022
Debt Disclosure [Abstract]  
Long-Term Debt Long-Term Debt 
Long-term debt consisted of the following:
March 31,
2022
December 31,
2021
(in millions)
Sale leaseback financing obligation $85 $91 
2018 Revolver1,012 581 
6.000% Senior Notes Due 2027
600 600 
5.875% Senior Notes Due 2028
400 400 
4.500% Senior Notes Due 2029
800 800 
4.500% Senior Notes Due 2030
800 800 
Finance leases
Total debt3,706 3,281 
Less: current maturities— 
Less: debt issuance costs26 26 
Long-term debt, net$3,680 $3,249 
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.
v3.22.1
Other Noncurrent Liabilities (Notes)
3 Months Ended
Mar. 31, 2022
Other Liabilities Disclosure [Abstract]  
Other Liabilities Disclosure [Text Block] Other Noncurrent Liabilities
Other noncurrent liabilities consisted of the following:
March 31,
2022
December 31,
2021
 (in millions)
Reserve for underground storage tank removal$80 $79 
Accrued environmental expense, long-term12 12 
Other15 13 
Total$107 $104 
v3.22.1
Related-Party Transactions
3 Months Ended
Mar. 31, 2022
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):
Three Months Ended March 31,
20222021
Motor fuel sales to affiliates$$
Bulk fuel purchases from affiliates$540 $333 
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.
v3.22.1
Revenue (Notes)
3 Months Ended
Mar. 31, 2022
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:
Three Months Ended March 31,
20222021
(in millions)
Fuel Distribution and Marketing Segment
Distributor $2,407 $1,615 
Dealer1,054 679 
Unbranded wholesale1,263 668 
Commission agent403 290 
Non motor fuel sales41 14 
Lease income32 33 
Total5,200 3,299 
All Other Segment
Motor fuel
150 111 
Non motor fuel sales49 59 
Lease income
Total202 172 
Total revenue$5,402 $3,471 
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:
March 31, 2022December 31, 2021
(in millions)
Contract balances
Contract assets$168 $157 
Accounts receivable from contracts with customers$637 $463 
Contract liabilities$— $— 
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.
v3.22.1
Commitments And Contingencies
3 Months Ended
Mar. 31, 2022
Leases [Abstract]  
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:
March 31,
Lease Term and Discount Rate20222021
Weighted-average remaining lease term (years)
Operating leases2223
Finance leases2921
Weighted-average discount rate (%)
Operating leases%%
Finance leases%%
Three Months Ended March 31,
Other information20222021
(in millions)
Cash paid for amount included in the measurement of lease liabilities
Operating cash flows from operating leases$(12)$(13)
Operating cash flows from finance leases$— $— 
Financing cash flows from finance leases$— $— 
Leased assets obtained in exchange for new finance lease liabilities$— $
Leased assets obtained in exchange for new operating lease liabilities$$
Maturity of lease liabilities (as of March 31, 2022)
Operating leasesFinance leasesTotal
(in millions)
2022 (remainder)$37 $— $37 
202348 — 48 
202447 — 47 
202547 — 47 
202646 — 46 
Thereafter778 16 794 
Total lease payment1,003 16 1,019 
Less: interest462 469 
Present value of lease liabilities$541 $$550 
Lessor Accounting
The Partnership leases or subleases a portion of its real estate portfolio to third party companies as a stable source of long-term revenue. Our lessor and sublease portfolio consists mainly of operating leases with convenience store operators. At this time, most lessor agreements contain 5-year terms with renewal options to extend and early termination options based on established terms specific to the individual agreement.
v3.22.1
Income Tax Expense
3 Months Ended
Mar. 31, 2022
Income Tax Disclosure [Abstract]  
Income Tax Expense Income Tax Expense
As a partnership, we are generally not subject to federal income tax and most state income taxes. However, the Partnership conducts certain activities through corporate subsidiaries which are subject to federal and state income taxes.
Our effective tax rate differs from the statutory rate primarily due to Partnership earnings that are not subject to U.S. federal and most state income taxes at the Partnership level. A reconciliation of income tax expense from continuing operations at the U.S. federal statutory rate of 21% to net income tax expense is as follows:
Three Months Ended March 31,
20222021
(in millions)
Income tax expense at statutory federal rate$46 $33 
Partnership earnings not subject to tax(44)(31)
State and local tax, net of federal benefit
Net income tax expense$$
v3.22.1
Partners' Capital
3 Months Ended
Mar. 31, 2022
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: 
Number of Units
Number of common units at December 31, 2021
83,670,950 
Vested phantom units exercised17,720 
Number of common units at March 31, 2022
83,688,670 
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):
Three Months Ended March 31,
20222021
Attributable to Common Units
Distributions $69 $69 
Distributions less than net income127 65 
Limited partners' interest in net income$196 $134 
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:
Limited Partners
Payment DatePer Unit DistributionTotal Cash DistributionDistribution to IDR Holders
(in millions, except per unit amounts)
May 19, 2022$0.8255 $69 $18 
February 18, 2022$0.8255 $69 $18 
v3.22.1
Segment Reporting
3 Months Ended
Mar. 31, 2022
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: 
Three Months Ended March 31,
20222021
Fuel Distribution and MarketingAll OtherIntercompany EliminationsTotalsFuel Distribution and MarketingAll OtherIntercompany EliminationsTotals
(in millions)
Revenue
Motor fuel sales$5,127 $150 $5,277 $3,252 $111 $3,363 
Non motor fuel sales41 49 90 14 59 73 
Lease income32 35 33 35 
Intersegment sales536 — (536)— 282 — (282)— 
Total revenue5,736 202 (536)5,402 3,581 172 (282)3,471 
Gross profit (1)
Motor fuel329 10 339 273 281 
Non motor fuel29 27 56 11 24 35 
Lease32 35 33 35 
Total gross profit390 40 430 317 34 351 
Total operating expenses143 28 171 109 38 147 
Operating income (loss)247 12 259 208 (4)204 
Interest expense, net(37)(4)(41)(37)(4)(41)
Loss on extinguishment of debt— — — (7)— (7)
Equity in earnings of unconsolidated affiliate— — 
Income (loss) from operations before income taxes211 219 165 (8)157 
Income tax expense— 
Net income (loss) and comprehensive income (loss)$210 $$216 $162 $(8)$154 
Depreciation, amortization and accretion42 47 40 47 
Interest expense, net37 41 37 41 
Income tax expense— 
Non-cash unit-based compensation expense— — 
Loss on extinguishment of debt— — — — 
Unrealized gain on commodity derivatives(9)— (9)(5)— (5)
Inventory adjustments(120)— (120)(100)— (100)
Equity in earnings of unconsolidated affiliate(1)— (1)(1)— (1)
Adjusted EBITDA related to unconsolidated affiliate— — 
Other non-cash adjustments— — 
Adjusted EBITDA$174 $17 $191 $153 $$157 
Capital expenditures$24 $$26 $17 $$18 
Total assets as of March 31, 2022 and
December 31, 2021, respectively
$5,565 $1,040 $6,605 $4,825 $990 $5,815 
________________________________
(1)    Excludes depreciation, amortization and accretion.
v3.22.1
Net Income per Unit
3 Months Ended
Mar. 31, 2022
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 March 31,
20222021
(in millions, except units and per unit amounts)
Net income and comprehensive income$216 $154 
Less:
Incentive distribution rights
18 18 
Distributions on nonvested phantom unit awards
Limited partners interest in net income
$196 $134 
Weighted average common units outstanding:
Basic
83,682,902 83,342,828 
Dilutive effect of nonvested phantom unit awards
1,046,300 798,433 
Diluted
84,729,202 84,141,261 
Net income per common unit:
Basic
$2.35 $1.61 
Diluted
$2.32 $1.60 
v3.22.1
Subsequent Events
3 Months Ended
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.
v3.22.1
Organization and Principles of Consolidation Organization and Principles of Consolidation (Policies)
3 Months Ended
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.
v3.22.1
Summary of Significant Accounting Policies (Policies)
3 Months Ended
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.
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.
v3.22.1
Inventory (Policies)
3 Months Ended
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.
v3.22.1
Revenue from Contract with Customer (Policies)
3 Months Ended
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.
v3.22.1
Partners' Capital Partners' Capital (Policies)
3 Months Ended
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.
v3.22.1
Accounts Receivable, net (Tables)
3 Months Ended
Mar. 31, 2022
Accounts Receivable, after Allowance for Credit Loss [Abstract]  
Schedule of Accounts Receivable
Accounts receivable, net, consisted of the following:
March 31,
2022
December 31,
2021
(in millions)
Accounts receivable, trade$590 $428 
Credit card receivables50 37 
Vendor receivables for rebates and branding37 35 
Other receivables51 28 
Allowance for expected credit losses(3)(2)
Accounts receivable, net$725 $526 
v3.22.1
Inventories, net (Tables)
3 Months Ended
Mar. 31, 2022
Inventory Disclosure [Abstract]  
Schedule of Inventories
Inventories, net, consisted of the following:
March 31,
2022
December 31,
2021
(in millions)
Fuel$694 $526 
Other10 
Inventories, net$704 $534 
v3.22.1
Accrued Expenses and Other Current Liabilities (Tables)
3 Months Ended
Mar. 31, 2022
Accrued Expenses And Other Current Liabilities [Abstract]  
Schedule of Accrued Liabilities
Accrued expenses and other current liabilities consisted of the following:
March 31,
2022
December 31,
2021
(in millions)
Wage and other employee-related accrued expenses$14 $23 
Accrued tax expense124 152 
Accrued insurance21 22 
Accrued interest expense52 31 
Dealer deposits21 21 
Accrued environmental expense
Other36 35 
Total$275 $291 
v3.22.1
Long-Term Debt (Tables)
3 Months Ended
Mar. 31, 2022
Debt Disclosure [Abstract]  
Schedule of Long-term Debt
Long-term debt consisted of the following:
March 31,
2022
December 31,
2021
(in millions)
Sale leaseback financing obligation $85 $91 
2018 Revolver1,012 581 
6.000% Senior Notes Due 2027
600 600 
5.875% Senior Notes Due 2028
400 400 
4.500% Senior Notes Due 2029
800 800 
4.500% Senior Notes Due 2030
800 800 
Finance leases
Total debt3,706 3,281 
Less: current maturities— 
Less: debt issuance costs26 26 
Long-term debt, net$3,680 $3,249 
v3.22.1
Other Noncurrent Liabilities (Tables)
3 Months Ended
Mar. 31, 2022
Other Liabilities Disclosure [Abstract]  
Other Noncurrent Liabilities [Table Text Block]
March 31,
2022
December 31,
2021
 (in millions)
Reserve for underground storage tank removal$80 $79 
Accrued environmental expense, long-term12 12 
Other15 13 
Total$107 $104 
v3.22.1
Related-Party Transactions (Tables)
3 Months Ended
Mar. 31, 2022
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):
Three Months Ended March 31,
20222021
Motor fuel sales to affiliates$$
Bulk fuel purchases from affiliates$540 $333 
v3.22.1
Revenue (Tables)
3 Months Ended
Mar. 31, 2022
Revenue from Contract with Customer [Abstract]  
Disaggregation of Revenue [Table Text Block]
The following table depicts the disaggregation of revenue by channel within each segment:
Three Months Ended March 31,
20222021
(in millions)
Fuel Distribution and Marketing Segment
Distributor $2,407 $1,615 
Dealer1,054 679 
Unbranded wholesale1,263 668 
Commission agent403 290 
Non motor fuel sales41 14 
Lease income32 33 
Total5,200 3,299 
All Other Segment
Motor fuel
150 111 
Non motor fuel sales49 59 
Lease income
Total202 172 
Total revenue$5,402 $3,471 
Contract with Customer, Contract Asset, Contract Liability, and Receivable [Table Text Block]
The balances of the Partnership’s contract assets and contract liabilities as of March 31, 2022 and December 31, 2021 are as follows:
March 31, 2022December 31, 2021
(in millions)
Contract balances
Contract assets$168 $157 
Accounts receivable from contracts with customers$637 $463 
Contract liabilities$— $— 
v3.22.1
Commitments And Contingencies (Tables)
3 Months Ended
Mar. 31, 2022
Leases [Abstract]  
Lease, Cost [Table Text Block] The details of the Partnership's operating and finance lease liabilities are as follows:
March 31,
Lease Term and Discount Rate20222021
Weighted-average remaining lease term (years)
Operating leases2223
Finance leases2921
Weighted-average discount rate (%)
Operating leases%%
Finance leases%%
Three Months Ended March 31,
Other information20222021
(in millions)
Cash paid for amount included in the measurement of lease liabilities
Operating cash flows from operating leases$(12)$(13)
Operating cash flows from finance leases$— $— 
Financing cash flows from finance leases$— $— 
Leased assets obtained in exchange for new finance lease liabilities$— $
Leased assets obtained in exchange for new operating lease liabilities$$
Lessee, Operating Lease, Liability, Maturity [Table Text Block]
Maturity of lease liabilities (as of March 31, 2022)
Operating leasesFinance leasesTotal
(in millions)
2022 (remainder)$37 $— $37 
202348 — 48 
202447 — 47 
202547 — 47 
202646 — 46 
Thereafter778 16 794 
Total lease payment1,003 16 1,019 
Less: interest462 469 
Present value of lease liabilities$541 $$550 
v3.22.1
Income Tax Expense (Tables)
3 Months Ended
Mar. 31, 2022
Income Tax Disclosure [Abstract]  
Schedule of Effective Income Tax Rate Reconciliation A reconciliation of income tax expense from continuing operations at the U.S. federal statutory rate of 21% to net income tax expense is as follows:
Three Months Ended March 31,
20222021
(in millions)
Income tax expense at statutory federal rate$46 $33 
Partnership earnings not subject to tax(44)(31)
State and local tax, net of federal benefit
Net income tax expense$$
v3.22.1
Partners' Capital (Tables)
3 Months Ended
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: 
Number of Units
Number of common units at December 31, 2021
83,670,950 
Vested phantom units exercised17,720 
Number of common units at March 31, 2022
83,688,670 
Schedule of Net Income Allocation By Partners
The calculation of net income allocated to the partners was as follows (in millions):
Three Months Ended March 31,
20222021
Attributable to Common Units
Distributions $69 $69 
Distributions less than net income127 65 
Limited partners' interest in net income$196 $134 
Distributions Made to Limited Partner, by Distribution
Cash distributions paid or declared during 2022 were as follows:
Limited Partners
Payment DatePer Unit DistributionTotal Cash DistributionDistribution to IDR Holders
(in millions, except per unit amounts)
May 19, 2022$0.8255 $69 $18 
February 18, 2022$0.8255 $69 $18 
v3.22.1
Segment Reporting (Tables)
3 Months Ended
Mar. 31, 2022
Segment Reporting [Abstract]  
Schedule of Segment Reporting Information, by Segment [Table Text Block]
Three Months Ended March 31,
20222021
Fuel Distribution and MarketingAll OtherIntercompany EliminationsTotalsFuel Distribution and MarketingAll OtherIntercompany EliminationsTotals
(in millions)
Revenue
Motor fuel sales$5,127 $150 $5,277 $3,252 $111 $3,363 
Non motor fuel sales41 49 90 14 59 73 
Lease income32 35 33 35 
Intersegment sales536 — (536)— 282 — (282)— 
Total revenue5,736 202 (536)5,402 3,581 172 (282)3,471 
Gross profit (1)
Motor fuel329 10 339 273 281 
Non motor fuel29 27 56 11 24 35 
Lease32 35 33 35 
Total gross profit390 40 430 317 34 351 
Total operating expenses143 28 171 109 38 147 
Operating income (loss)247 12 259 208 (4)204 
Interest expense, net(37)(4)(41)(37)(4)(41)
Loss on extinguishment of debt— — — (7)— (7)
Equity in earnings of unconsolidated affiliate— — 
Income (loss) from operations before income taxes211 219 165 (8)157 
Income tax expense— 
Net income (loss) and comprehensive income (loss)$210 $$216 $162 $(8)$154 
Depreciation, amortization and accretion42 47 40 47 
Interest expense, net37 41 37 41 
Income tax expense— 
Non-cash unit-based compensation expense— — 
Loss on extinguishment of debt— — — — 
Unrealized gain on commodity derivatives(9)— (9)(5)— (5)
Inventory adjustments(120)— (120)(100)— (100)
Equity in earnings of unconsolidated affiliate(1)— (1)(1)— (1)
Adjusted EBITDA related to unconsolidated affiliate— — 
Other non-cash adjustments— — 
Adjusted EBITDA$174 $17 $191 $153 $$157 
Capital expenditures$24 $$26 $17 $$18 
Total assets as of March 31, 2022 and
December 31, 2021, respectively
$5,565 $1,040 $6,605 $4,825 $990 $5,815 
________________________________
(1)    Excludes depreciation, amortization and accretion.
v3.22.1
Net Income per Unit (Tables)
3 Months Ended
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:
Three Months Ended March 31,
20222021
(in millions, except units and per unit amounts)
Net income and comprehensive income$216 $154 
Less:
Incentive distribution rights
18 18 
Distributions on nonvested phantom unit awards
Limited partners interest in net income
$196 $134 
Weighted average common units outstanding:
Basic
83,682,902 83,342,828 
Dilutive effect of nonvested phantom unit awards
1,046,300 798,433 
Diluted
84,729,202 84,141,261 
Net income per common unit:
Basic
$2.35 $1.61 
Diluted
$2.32 $1.60 
v3.22.1
Organization and Principles of Consolidation - Additional Information (Details)
3 Months Ended
Mar. 31, 2022
Energy Transfer Operating, L.P. [Member]  
Organization Consolidation And Presentation Of Financial Statements [Line Items]  
Percentage of Common Units Owned 28.40%
v3.22.1
Summary of Significant Accounting Policies - Additional Information (Details) - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Accounting Policies [Abstract]    
Motor fuel and sales taxes $ 71 $ 76
v3.22.1
Accounts Receivable, net (Details) - USD ($)
$ in Millions
Mar. 31, 2022
Dec. 31, 2021
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Allowance for expected credit losses $ (3) $ (2)
Accounts receivable, net 725 526
Trade Accounts Receivable [Member]    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Accounts receivable, gross, current 590 428
Credit Card Receivable [Member]    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Accounts receivable, gross, current 50 37
Vendor Receivables For Rebates Branding And Other [Member]    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Accounts receivable, gross, current 37 35
Other Receivables [Member]    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Accounts receivable, gross, current $ 51 $ 28
v3.22.1
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    
v3.22.1
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
v3.22.1
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
v3.22.1
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
v3.22.1
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%  
v3.22.1
Long-Term Debt Fair Value Measurements (Details)
$ in Billions
Mar. 31, 2022
USD ($)
Fair Value Measurements [Abstract]  
Long-term Debt, Fair Value $ 3.6
v3.22.1
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
v3.22.1
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  
v3.22.1
Revenue (Disaggregation of Revenue) (Details) - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Disaggregation of Revenue [Line Items]    
Revenues $ 5,402 $ 3,471
Motor Fuel Sales [Member]    
Disaggregation of Revenue [Line Items]    
Revenues 5,277 3,363
Lease Income [Member]    
Disaggregation of Revenue [Line Items]    
Revenues 35 35
Fuel Distribution and Marketing [Member]    
Disaggregation of Revenue [Line Items]    
Revenues 5,200 3,299
Fuel Distribution and Marketing [Member] | Dealer Revenue [Member]    
Disaggregation of Revenue [Line Items]    
Revenues 1,054 1,615
Fuel Distribution and Marketing [Member] | Distributor Revenue [Member]    
Disaggregation of Revenue [Line Items]    
Revenues 2,407 679
Fuel Distribution and Marketing [Member] | Unbranded Wholesale Revenue [Member]    
Disaggregation of Revenue [Line Items]    
Revenues 1,263 668
Fuel Distribution and Marketing [Member] | Commission Agent Revenue [Member]    
Disaggregation of Revenue [Line Items]    
Revenues 403 290
Fuel Distribution and Marketing [Member] | Non Motor Fuel [Member]    
Disaggregation of Revenue [Line Items]    
Revenues 41 14
Fuel Distribution and Marketing [Member] | Lease Income [Member]    
Disaggregation of Revenue [Line Items]    
Revenues 32 33
All Other [Member]    
Disaggregation of Revenue [Line Items]    
Revenues 202 172
All Other [Member] | Motor Fuel Sales [Member]    
Disaggregation of Revenue [Line Items]    
Revenues 150 111
All Other [Member] | Non Motor Fuel [Member]    
Disaggregation of Revenue [Line Items]    
Revenues 49 59
All Other [Member] | Lease Income [Member]    
Disaggregation of Revenue [Line Items]    
Revenues $ 3 $ 2
v3.22.1
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
v3.22.1
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
v3.22.1
Commitments And Contingencies (Lessee Disclosures) (Details) - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Dec. 31, 2021
Leases [Abstract]      
Finance lease - 2022 (remainder) $ 0    
Finance lease - 2023 0    
Finance lease - 2024 0    
Finance lease - 2025 0    
Finance lease - 2026 0    
Finance lease - Thereafter 16    
Total lease payment 16    
Less: interest (7)    
Present value of lease liabilities - finance leases 9   $ 9
2022 (remainder) 37    
2023 48    
2024 47    
2025 47    
2026 46    
Thereafter 794    
Total lease payment 1,019    
Less: interest (469)    
Present value of lease liabilities $ 550    
Operating Lease, Weighted Average Remaining Lease Term 22 years 23 years  
Finance Lease, Weighted Average Remaining Lease Term 29 years 21 years  
Operating cash flows from operating leases $ (12) $ (13)  
Operating cash flows from finance leases 0 0  
Financing cash flows from finance leases 0 0  
Leased assets obtained in exchange for new finance lease liabilities 0 9  
Leased assets obtained in exchange for new operating lease liabilities $ 8 $ 5  
Operating Lease, Weighted Average Discount Rate, Percent 6.00% 6.00%  
Finance Lease, Weighted Average Discount Rate, Percent 4.00% 5.00%  
Operating lease - 2022 (remainder) $ 37    
Operating lease - 2023 48    
Operating lease - 2024 47    
Operating lease - 2025 47    
Operating lease - 2026 46    
Operating lease - Thereafter 778    
Total lease payment 1,003    
Less: interest (462)    
Present value of lease liabilities - operating leases $ 541    
v3.22.1
Commitments And Contingencies (Lessor Disclosures) (Details)
Mar. 31, 2022
Lessor Disclosure [Abstract]  
Lessor, Operating Lease, Term of Contract 5 years
v3.22.1
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
v3.22.1
Partners' Capital Narrative (Details) - shares
3 Months Ended
Mar. 31, 2022
Dec. 31, 2021
Common Units    
Schedule of Partners' Capital [Line Items]    
Limited Partners' Capital Account, Units Outstanding 55,224,703  
Common Units [Member]    
Schedule of Partners' Capital [Line Items]    
Limited Partners' Capital Account, Units Outstanding 83,688,670 83,670,950
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 Operating, L.P. [Member]    
Schedule of Partners' Capital [Line Items]    
Percentage of Common Units Owned 28.40%  
Energy Transfer Operating, L.P. [Member] | Common Units [Member]    
Schedule of Partners' Capital [Line Items]    
Limited Partners' Capital Account, Units Outstanding 28,463,967  
v3.22.1
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
v3.22.1
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
v3.22.1
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      
v3.22.1
Segment Reporting - Additional Information (Details)
3 Months Ended
Mar. 31, 2022
segment
Segment Reporting [Abstract]  
Number of Operating Segments 2
v3.22.1
Segment Reporting (Details) - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Dec. 31, 2021
Segment Reporting Information [Line Items]      
Revenues $ 5,402 $ 3,471  
Gross Profit [1] 430 351  
Operating Expenses 171 147  
Operating income 259 204  
Interest expense, net (41) (41)  
Other income (expense), net 0 7  
Income (loss) from operations before income taxes 219 157  
Net income (loss) and comprehensive income (loss) 216 154  
Depreciation, amortization and accretion 47 47  
Non-cash unit-based compensation expense 5 4  
Unrealized gain on commodity derivatives 9 5  
Inventory adjustments (120) (100)  
Equity in earnings of unconsolidated affiliate (1) (1)  
Adjusted EBITDA related to unconsolidated affiliate 2 2  
Other non-cash adjustments 7 5  
Income tax expense 3 3  
Adjusted EBITDA 191 157  
Capital expenditures 26 18  
Assets 6,605   $ 5,815
Fuel Distribution and Marketing [Member]      
Segment Reporting Information [Line Items]      
Revenues 5,200 3,299  
All Other [Member]      
Segment Reporting Information [Line Items]      
Revenues 202 172  
Motor Fuel Sales [Member]      
Segment Reporting Information [Line Items]      
Revenues 5,277 3,363  
Gross Profit [1] 339 281  
Motor Fuel Sales [Member] | All Other [Member]      
Segment Reporting Information [Line Items]      
Revenues 150 111  
Non Motor Fuel Sales [Member]      
Segment Reporting Information [Line Items]      
Revenues 90 73  
Lease Income [Member]      
Segment Reporting Information [Line Items]      
Revenues 35 35  
Gross Profit [1] 35 35  
Lease Income [Member] | Fuel Distribution and Marketing [Member]      
Segment Reporting Information [Line Items]      
Revenues 32 33  
Lease Income [Member] | All Other [Member]      
Segment Reporting Information [Line Items]      
Revenues 3 2  
Non Motor Fuel [Member]      
Segment Reporting Information [Line Items]      
Gross Profit [1] 56 35  
Non Motor Fuel [Member] | Fuel Distribution and Marketing [Member]      
Segment Reporting Information [Line Items]      
Revenues 41 14  
Non Motor Fuel [Member] | All Other [Member]      
Segment Reporting Information [Line Items]      
Revenues 49 59  
Including Intercompany [Member] | Fuel Distribution and Marketing [Member]      
Segment Reporting Information [Line Items]      
Revenues   3,581  
Including Intercompany [Member] | All Other [Member]      
Segment Reporting Information [Line Items]      
Revenues   172  
Intersegment Eliminations [Member]      
Segment Reporting Information [Line Items]      
Revenues (536) (282)  
Intersegment Eliminations [Member] | Intersegment Sales [Member] | Fuel Distribution and Marketing [Member]      
Segment Reporting Information [Line Items]      
Revenues 536 282  
Intersegment Eliminations [Member] | Intersegment Sales [Member] | All Other [Member]      
Segment Reporting Information [Line Items]      
Revenues 0 0  
Operating Segments [Member] | Fuel Distribution and Marketing [Member]      
Segment Reporting Information [Line Items]      
Revenues 5,736    
Gross Profit [1] 390 317  
Operating Expenses 143 109  
Operating income 247 208  
Interest expense, net (37) (37)  
Other income (expense), net 0 7  
Income (loss) from operations before income taxes 211 165  
Net income (loss) and comprehensive income (loss) 210 162  
Depreciation, amortization and accretion 42 40  
Non-cash unit-based compensation expense 5 4  
Unrealized gain on commodity derivatives (9) (5)  
Inventory adjustments (120) (100)  
Equity in earnings of unconsolidated affiliate (1) (1)  
Adjusted EBITDA related to unconsolidated affiliate 2 2  
Other non-cash adjustments 7 5  
Income tax expense 1 3  
Adjusted EBITDA 174 153  
Capital expenditures 24 17  
Assets 5,565   4,825
Operating Segments [Member] | All Other [Member]      
Segment Reporting Information [Line Items]      
Revenues 202    
Gross Profit [1] 40 34  
Operating Expenses 28 38  
Operating income 12 (4)  
Interest expense, net (4) (4)  
Other income (expense), net 0 0  
Income (loss) from operations before income taxes 8 (8)  
Net income (loss) and comprehensive income (loss) 6 (8)  
Depreciation, amortization and accretion 5 7  
Non-cash unit-based compensation expense 0 0  
Unrealized gain on commodity derivatives 0 0  
Inventory adjustments 0 0  
Equity in earnings of unconsolidated affiliate 0 0  
Adjusted EBITDA related to unconsolidated affiliate 0 0  
Other non-cash adjustments 0 0  
Income tax expense 2 0  
Adjusted EBITDA 17 4  
Capital expenditures 2 1  
Assets 1,040   $ 990
Operating Segments [Member] | Motor Fuel Sales [Member] | Fuel Distribution and Marketing [Member]      
Segment Reporting Information [Line Items]      
Gross Profit [1] 329 273  
Operating Segments [Member] | Motor Fuel Sales [Member] | All Other [Member]      
Segment Reporting Information [Line Items]      
Gross Profit [1] 10 8  
Operating Segments [Member] | Lease Income [Member] | Fuel Distribution and Marketing [Member]      
Segment Reporting Information [Line Items]      
Gross Profit [1] 32 33  
Operating Segments [Member] | Lease Income [Member] | All Other [Member]      
Segment Reporting Information [Line Items]      
Gross Profit [1] 3 2  
Operating Segments [Member] | Non Motor Fuel [Member] | Fuel Distribution and Marketing [Member]      
Segment Reporting Information [Line Items]      
Gross Profit [1] 29 11  
Operating Segments [Member] | Non Motor Fuel [Member] | All Other [Member]      
Segment Reporting Information [Line Items]      
Gross Profit [1] 27 24  
External Revenue [Member] | Motor Fuel Sales [Member]      
Segment Reporting Information [Line Items]      
Revenues 5,277 3,363  
External Revenue [Member] | Motor Fuel Sales [Member] | Fuel Distribution and Marketing [Member]      
Segment Reporting Information [Line Items]      
Revenues 5,127 3,252  
External Revenue [Member] | Motor Fuel Sales [Member] | All Other [Member]      
Segment Reporting Information [Line Items]      
Revenues 150 111  
External Revenue [Member] | Non Motor Fuel Sales [Member] | Fuel Distribution and Marketing [Member]      
Segment Reporting Information [Line Items]      
Revenues 41 14  
External Revenue [Member] | Non Motor Fuel Sales [Member] | All Other [Member]      
Segment Reporting Information [Line Items]      
Revenues 49 59  
External Revenue [Member] | Lease Income [Member]      
Segment Reporting Information [Line Items]      
Revenues 35 35  
External Revenue [Member] | Lease Income [Member] | Fuel Distribution and Marketing [Member]      
Segment Reporting Information [Line Items]      
Revenues 32 33  
External Revenue [Member] | Lease Income [Member] | All Other [Member]      
Segment Reporting Information [Line Items]      
Revenues 3 2  
External Revenue [Member] | Non Motor Fuel [Member]      
Segment Reporting Information [Line Items]      
Revenues $ 90 $ 73  
[1] Excludes depreciation, amortization and accretion.
v3.22.1
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
v3.22.1
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