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Condensed Consolidated Balance Sheets - USD ($)
$ in Millions
Sep. 30, 2024
Dec. 31, 2023
Current assets:    
Cash and cash equivalents $ 905 $ 3,485
Restricted cash 29 40
Trade accounts receivable — net 2,179 1,674
Income taxes receivable 20 6
Inventories 949 740
Commodity and other derivative contractual assets 2,854 3,645
Margin deposits related to commodity contracts 519 1,244
Margin deposits posted under affiliate financing agreement 451 439
Prepaid expense and other current assets 625 364
Total current assets 8,531 11,637
Restricted cash 6 14
Investments 4,520 2,035
Property, plant and equipment — net 18,388 12,432
Operating lease right-of-use assets 109 50
Goodwill 2,802 2,583
Identifiable intangible assets — net 2,157 1,864
Commodity and other derivative contractual assets 886 577
Accumulated deferred income taxes 0 1,223
Other noncurrent assets 479 551
Total assets 37,878 32,966
Current liabilities:    
Accounts receivable financing 750 0
Long-term debt due currently 785 2,286
Trade accounts payable 1,291 1,147
Commodity and other derivative contractual liabilities 3,563 5,258
Margin deposits related to commodity contracts 175 45
Accrued taxes other than income 199 203
Accrued interest 222 206
Asset retirement obligations 102 124
Operating lease liabilities 13 7
Other current liabilities 560 547
Total current liabilities 7,660 9,823
Margin deposit financing with affiliate 451 439
Total long-term debt less amounts due currently 13,945 12,116
Operating lease liabilities 99 48
Commodity and other derivative contractual liabilities 1,141 1,688
Accumulated deferred income taxes 839 1
Tax Receivable Agreement obligation 15 164
Asset retirement obligations 3,884 2,414
Total other noncurrent liabilities and deferred credits 1,191 951
Total liabilities 29,225 27,644
Commitments and Contingencies
Redeemable noncontrolling interest 3,198 0
Total equity:    
Preferred stock, number of shares authorized — 100,000,000; Series A (liquidation preference — $1,000; shares outstanding: September 30, 2024 and December 31, 2023— 1,000,000); Series B (liquidation preference — $1,000; shares outstanding: September 30, 2024 and December 31, 2023 — 1,000,000); Series C (liquidation preference — $1,000; shares outstanding: September 30, 2024 — 476,066 and December 31, 2023 — 476,081) 2,476 2,476
Common stock (par value — $0.01; number of shares authorized — 1,800,000,000) (shares outstanding: September 30, 2024 — 340,717,442; December 31, 2023 — 351,457,016) 5 5
Treasury stock, at cost (shares: September 30, 2024 — 207,378,586; December 31, 2023 — 192,178,156) (5,684) (4,662)
Additional paid-in-capital 9,396 10,095
Retained deficit (759) (2,613)
Accumulated other comprehensive income 7 6
Stockholders' equity 5,441 5,307
Noncontrolling interest in subsidiary 14 15
Total equity 5,455 5,322
Total liabilities, redeemable noncontrolling interest and equity $ 37,878 $ 32,966