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Business Segments and Related Information (Tables)
 3 Months Ended
Mar. 31, 2024
Business Segments [Abstract]  
Measurement of Total Segment Gross Operating Margin
The following table presents our measurement of total segment gross operating margin for the periods presented.  The GAAP financial measure most directly comparable to total segment gross operating margin is operating income.

 
  
For the Three Months
Ended March 31,
  
 
  
2024
    
2023
  
Operating income
  
$
1,822
    
$
1,734
  
Adjustments to reconcile operating income to total segment gross operating margin
   (addition or subtraction indicated by sign):
                
Depreciation, amortization and accretion expense in operating costs and expenses (1)
    
582
      
533
  
Asset impairment charges in operating costs and expenses
    
20
      
13
  
Net gains attributable to asset sales and related matters in operating costs
   and expenses
    
–
      
(2
)
General and administrative costs
    
66
      
57
  
     Non-refundable payments received from shippers attributable to make-up rights (2)
    
25
      
27
  
     Subsequent recognition of revenues attributable to make-up rights (3)
    
(8
)
    
(20
)
Total segment gross operating margin
  
$
2,507
    
$
2,342
  

(1)
Excludes amortization of major maintenance costs for reaction-based plants, which are a component of gross operating margin.
(2)
Since make-up rights entail a future performance obligation by the pipeline to the shipper, these receipts are recorded as deferred revenue for GAAP purposes; however, these receipts are included in gross operating margin in the period of receipt since they are nonrefundable to the shipper.
(3)
As deferred revenues attributable to make-up rights are subsequently recognized as revenue under GAAP, gross operating margin must be adjusted to remove such amounts to prevent duplication since the associated non-refundable payments were previously included in gross operating margin.
Information by Business Segments
Gross operating margin by segment is calculated by subtracting segment operating costs and expenses from segment revenues, with both segment totals reflecting the adjustments noted in the preceding table, as applicable, and before the elimination of intercompany transactions.  The following table presents gross operating margin by segment for the periods indicated:

 
  
For the Three Months
Ended March 31,
  
 
  
2024
    
2023
  
Gross operating margin by segment:
            
NGL Pipelines & Services
  
$
1,340
    
$
1,212
  
Crude Oil Pipelines & Services
    
411
      
397
  
Natural Gas Pipelines & Services
    
312
      
314
  
Petrochemical & Refined Products Services
    
444
      
419
  
Total segment gross operating margin
  
$
2,507
    
$
2,342
  
Summarized Segment Financial Information

Information by business segment, together with reconciliations to amounts presented on, or included in, our Unaudited Condensed Statements of Consolidated Operations, is presented in the following table:

 
  
Reportable Business Segments
              
 
  
NGL
Pipelines
& Services
    
Crude Oil
Pipelines
& Services
    
Natural Gas
Pipelines
& Services
    
Petrochemical
& Refined
Products
Services
    
Adjustments
and
Eliminations
    
Consolidated
Total
  
Revenues from third parties:
                                    
Three months ended March 31, 2024
  
$
5,137
    
$
5,406
    
$
851
    
$
3,351
    
$
–
    
$
14,745
  
Three months ended March 31, 2023
    
4,926
      
4,175
      
1,211
      
2,119
      
–
      
12,431
  
Revenues from related parties:
                                                
Three months ended March 31, 2024
    
3
      
9
      
3
      
–
      
–
      
15
  
Three months ended March 31, 2023
    
3
      
6
      
4
      
–
      
–
      
13
  
Intersegment and intrasegment revenues:
                                                
Three months ended March 31, 2024
    
11,555
      
13,827
      
177
      
6,324
      
(31,883
)
    
–
  
Three months ended March 31, 2023
    
12,696
      
12,584
      
136
      
4,706
      
(30,122
)
    
–
  
Total revenues:
                                                
Three months ended March 31, 2024
    
16,695
      
19,242
      
1,031
      
9,675
      
(31,883
)
    
14,760
  
Three months ended March 31, 2023
    
17,625
      
16,765
      
1,351
      
6,825
      
(30,122
)
    
12,444
  
Equity in income of unconsolidated affiliates:
                                                
Three months ended March 31, 2024
    
31
      
69
      
2
      
–
      
–
      
102
  
Three months ended March 31, 2023
    
39
      
64
      
1
      
–
      
–
      
104
  
Information by business segment, together with reconciliations to our Unaudited Condensed Consolidated Balance Sheet totals, is presented in the following table:

 
  
Reportable Business Segments
              
 
  
NGL
Pipelines
& Services
    
Crude Oil
Pipelines
& Services
    
Natural Gas
Pipelines
& Services
    
Petrochemical
& Refined
Products
Services
    
Adjustments
and
Eliminations
    
Consolidated
Total
  
Property, plant and equipment, net:
(see Note 4)
                                    
At March 31, 2024
  
$
18,051
    
$
6,412
    
$
10,039
    
$
9,701
    
$
2,228
    
$
46,431
  
At December 31, 2023
    
17,541
      
6,627
      
10,019
      
9,372
      
2,245
      
45,804
  
Investments in unconsolidated affiliates:
(see Note 5)
                                                
At March 31, 2024
    
610
      
1,674
      
34
      
3
      
–
      
2,321
  
At December 31, 2023
    
612
      
1,681
      
33
      
4
      
–
      
2,330
  
Intangible assets, net: (see Note 6)
                                                
At March 31, 2024
    
818
      
1,648
      
1,145
      
109
      
–
      
3,720
  
At December 31, 2023
    
828
      
1,673
      
1,158
      
111
      
–
      
3,770
  
Goodwill: (see Note 6)
                                                
At March 31, 2024
    
2,811
      
1,841
      
–
      
956
      
–
      
5,608
  
At December 31, 2023
    
2,811
      
1,841
      
–
      
956
      
–
      
5,608
  
Segment assets:
                                                
At March 31, 2024
    
22,290
      
11,575
      
11,218
      
10,769
      
2,228
      
58,080
  
At December 31, 2023
    
21,792
      
11,822
      
11,210
      
10,443
      
2,245
      
57,512
  
Consolidated Revenues and Expenses
The following table presents additional information regarding our consolidated revenues and costs and expenses for the periods indicated:

 
  
For the Three Months
Ended March 31,
  
 
  
2024
    
2023
  
Consolidated revenues:
            
NGL Pipelines & Services
  
$
5,140
    
$
4,929
  
Crude Oil Pipelines & Services
    
5,415
      
4,181
  
Natural Gas Pipelines & Services
    
854
      
1,215
  
Petrochemical & Refined Products Services
    
3,351
      
2,119
  
Total consolidated revenues
  
$
14,760
    
$
12,444
  
 
                
Consolidated costs and expenses
                
Operating costs and expenses:
                
Cost of sales
  
$
11,405
    
$
9,331
  
Other operating costs and expenses (1)
    
954
      
868
  
Depreciation, amortization and accretion
    
595
      
547
  
Asset impairment charges
    
20
      
13
  
Net gains attributable to asset sales and related matters
    
–
      
(2
)
General and administrative costs
    
66
      
57
  
Total consolidated costs and expenses
  
$
13,040
    
$
10,814
  

(1)
Represents the cost of operating our plants, pipelines and other fixed assets excluding depreciation, amortization and accretion charges; asset impairment charges; and net losses (or gains) attributable to asset sales and related matters.