Enterprise Products Partners (EPD) 10-Q 9 Nov 23 2023 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2023	Oct. 31, 2023
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2023
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	Q3
Document Transition Report	false
Entity File Number	1-14323
Entity Registrant Name	ENTERPRISE PRODUCTS PARTNERS L.P.
Entity Central Index Key	0001061219
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	76-0568219
Entity Address, Address Line One	1100 Louisiana Street, 10th Floor
Entity Address, City or Town	Houston
Entity Address, State or Province	TX
Entity Address, Postal Zip Code	77002
City Area Code	713
Local Phone Number	381-6500
Title of 12(b) Security	Common Units
Trading Symbol	EPD
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 Common Stock, Shares Outstanding		2,171,879,003

UNAUDITED CONDENSED CONSOLIDATE

UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	Sep. 30, 2023	Dec. 31, 2022
Current assets:
Cash and cash equivalents	$ 171	$ 76
Restricted cash	143	130
Inventories	3,345	2,554
Derivative assets	409	469
Prepaid and other current assets	436	394
Total current assets	11,432	10,598
Property, plant and equipment, net	45,340	44,401
Investments in unconsolidated affiliates	2,337	2,352
Intangible assets, net	3,821	3,965
Goodwill	5,608	5,608
Other assets	1,266	1,184
Total assets	69,804	68,108
Current liabilities:
Current maturities of debt	1,470	1,744
Accrued product payables	8,460	7,988
Accrued interest	237	426
Derivative liabilities	427	354
Other current liabilities	771	778
Total current liabilities	12,475	12,265
Long-term debt	27,446	26,551
Deferred tax liabilities	605	600
Other long-term liabilities	1,007	941
Commitments and contingent liabilities
Redeemable preferred limited partner interests:
Series A cumulative convertible preferred units (50,412 units outstanding at September 30, 2023 and December 31, 2022)	49	49
Partners' equity:
Common limited partner interests (2,171,879,003 units issued and outstanding at September 30, 2023 and 2,170,806,347 units issued and outstanding at December 31, 2022)	28,244	27,555
Treasury units, at cost	(1,297)	(1,297)
Accumulated other comprehensive income	203	365
Total partners' equity	27,150	26,623
Noncontrolling interests in consolidated subsidiaries	1,072	1,079
Total equity	28,222	27,702
Total liabilities, preferred units, and equity	69,804	68,108
Nonrelated Party [Member]
Current assets:
Accounts receivable, net	6,923	6,964
Current liabilities:
Accounts payable	962	743
Related Party [Member]
Current assets:
Accounts receivable, net	5	11
Current liabilities:
Accounts payable	$ 148	$ 232

UNAUDITED CONDENSED CONSOLIDA_2

UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Millions	Sep. 30, 2023	Dec. 31, 2022
Current assets:
Accounts receivable, allowance for credit losses	$ 49	$ 54
Redeemable preferred limited partner interests:
Series A cumulative convertible preferred units outstanding (in units)	50,412	50,412
Partners' equity:
Common units issued (in units)	2,171,879,003	2,170,806,347
Common units outstanding (in units)	2,171,879,003	2,170,806,347

UNAUDITED CONDENSED STATEMENTS

UNAUDITED CONDENSED STATEMENTS OF CONSOLIDATED OPERATIONS - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Revenues:
Third parties	$ 11,980	$ 15,448	$ 35,049	$ 44,481
Related parties	18	20	44	55
Total revenues	11,998	15,468	35,093	44,536
Operating costs and expenses:
Third party and other costs	10,009	13,459	29,246	38,545
Related parties	357	353	1,014	1,005
Total operating costs and expenses	10,366	13,812	30,260	39,550
General and administrative costs:
Third party and other costs	18	19	59	68
Related parties	41	36	113	111
Total general and administrative costs	59	55	172	179
Total costs and expenses	10,425	13,867	30,432	39,729
Equity in income of unconsolidated affiliates	122	111	347	335
Operating income	1,695	1,712	5,008	5,142
Other income (expense):
Interest expense	(328)	(309)	(944)	(937)
Interest income	5	3	22	6
Other, net	0	4	14	6
Total other expense, net	(323)	(302)	(908)	(925)
Income before income taxes	1,372	1,410	4,100	4,217
Provision for income taxes	(22)	(18)	(45)	(54)
Net income	1,350	1,392	4,055	4,163
Net income attributable to noncontrolling interests	(31)	(31)	(91)	(93)
Net income attributable to preferred units	(1)	(1)	(3)	(3)
Net income attributable to common unitholders	$ 1,318	$ 1,360	$ 3,961	$ 4,067
Earnings per unit:
Basic earnings per common unit (in dollars per unit)	$ 0.6	$ 0.62	$ 1.81	$ 1.85
Diluted earnings per common unit (in dollars per unit)	$ 0.6	$ 0.62	$ 1.81	$ 1.85

UNAUDITED CONDENSED STATEMENT_2

UNAUDITED CONDENSED STATEMENTS OF CONSOLIDATED COMPREHENSIVE INCOME - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
UNAUDITED CONDENSED STATEMENTS OF CONSOLIDATED COMPREHENSIVE INCOME
Net income	$ 1,350	$ 1,392	$ 4,055	$ 4,163
Commodity hedging derivative instruments:
Changes in fair value of cash flow hedges	(96)	186	(139)	126
Reclassification of losses (gains) to net income	33	9	(15)	(54)
Interest rate hedging derivative instruments:
Changes in fair value of cash flow hedges	0	0	(5)	0
Reclassification of losses (gains) to net income	(2)	1	(3)	15
Total cash flow hedges	(65)	196	(162)	87
Total other comprehensive income (loss)	(65)	196	(162)	87
Comprehensive income	1,285	1,588	3,893	4,250
Comprehensive income attributable to noncontrolling interests	(31)	(31)	(91)	(93)
Comprehensive income attributable to preferred units	(1)	(1)	(3)	(3)
Comprehensive income attributable to common unitholders	$ 1,253	$ 1,556	$ 3,799	$ 4,154

UNAUDITED CONDENSED STATEMENT_3

UNAUDITED CONDENSED STATEMENTS OF CONSOLIDATED CASH FLOWS - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022
Operating activities:
Net income	$ 4,055	$ 4,163
Reconciliation of net income to net cash flows provided by operating activities:
Depreciation and accretion	1,388	1,336
Amortization of intangible assets	148	132
Amortization of major maintenance costs for reaction-based plants	48	38
Other amortization expense	158	169
Impairment of assets other than goodwill	28	48
Equity in income of unconsolidated affiliates	(347)	(335)
Distributions received from unconsolidated affiliates attributable to earnings	330	329
Net losses (gains) attributable to asset sales and related matters	(4)	3
Deferred income tax expense	5	24
Change in fair market value of derivative instruments	48	46
Non-cash expense related to long-term operating leases	51	43
Net effect of changes in operating accounts	(706)	(682)
Other operating activities	1	0
Net cash flows provided by operating activities	5,203	5,314
Investing activities:
Capital expenditures	(2,254)	(1,203)
Cash used for business combinations, net of cash received	0	(3,204)
Investments in unconsolidated affiliates	(2)	(1)
Distributions received from unconsolidated affiliates attributable to the return of capital	37	82
Proceeds from asset sales and other matters	7	20
Other investing activities	(8)	(3)
Cash used in investing activities	(2,220)	(4,309)
Financing activities:
Borrowings under debt agreements	57,685	64,482
Repayments of debt	(57,062)	(64,828)
Debt issuance costs	(17)	(1)
Monetization of interest rate derivative instruments	21	0
Cash distributions paid to common unitholders	(3,215)	(3,061)
Cash payments made in connection with distribution equivalent rights	(29)	(26)
Cash distributions paid to noncontrolling interests	(121)	(115)
Cash contributions from noncontrolling interests	25	4
Repurchase of common units under 2019 Buyback Program	(92)	(107)
Other financing activities	(70)	(63)
Cash used in financing activities	(2,875)	(3,715)
Net change in cash and cash equivalents, including restricted cash	108	(2,710)
Cash and cash equivalents, including restricted cash, at beginning of period	206	2,965
Cash and cash equivalents, including restricted cash, at end of period	$ 314	$ 255

UNAUDITED CONDENSED STATEMENT_4

UNAUDITED CONDENSED STATEMENTS OF CONSOLIDATED EQUITY - USD ($) $ in Millions	Total	Accumulated Other Comprehensive Income (Loss) [Member]	Noncontrolling Interests in Consolidated Subsidiaries [Member]	Common Limited Partners Interests [Member]	Treasury Units [Member]
Balance at Dec. 31, 2021	$ 26,439	$ 286	$ 1,110	$ 26,340	$ (1,297)
Increase (Decrease) in Partners' Equity [Roll Forward]
Net income	4,160	0	93	4,067	0
Cash distributions paid to common unitholders	(3,061)	0	0	(3,061)	0
Cash payments made in connection with distribution equivalent rights	(26)	0	0	(26)	0
Cash distributions paid to noncontrolling interests	(115)	0	(115)	0	0
Cash contributions from noncontrolling interests	4	0	4	0	0
Repurchase and cancellation of common units under 2019 Buyback Program	(107)	0	0	(107)	0
Amortization of fair value of equity-based awards	118	0	0	118	0
Cash flow hedges	87	87	0	0	0
Other, net	(59)	0	0	(59)	0
Balance at Sep. 30, 2022	27,440	373	1,092	27,272	(1,297)
Balance at Jun. 30, 2022	26,977	177	1,094	27,003	(1,297)
Increase (Decrease) in Partners' Equity [Roll Forward]
Net income	1,391	0	31	1,360	0
Cash distributions paid to common unitholders	(1,035)	0	0	(1,035)	0
Cash payments made in connection with distribution equivalent rights	(9)	0	0	(9)	0
Cash distributions paid to noncontrolling interests	(33)	0	(33)	0	0
Repurchase and cancellation of common units under 2019 Buyback Program	(72)	0	0	(72)	0
Amortization of fair value of equity-based awards	39	0	0	39	0
Cash flow hedges	196	196	0	0	0
Other, net	(14)	0	0	(14)	0
Balance at Sep. 30, 2022	27,440	373	1,092	27,272	(1,297)
Balance at Dec. 31, 2022	27,702	365	1,079	27,555	(1,297)
Increase (Decrease) in Partners' Equity [Roll Forward]
Net income	4,052	0	91	3,961	0
Cash distributions paid to common unitholders	(3,215)	0	0	(3,215)	0
Cash payments made in connection with distribution equivalent rights	(29)	0	0	(29)	0
Cash distributions paid to noncontrolling interests	(121)	0	(121)	0	0
Cash contributions from noncontrolling interests	25	0	25	0	0
Repurchase and cancellation of common units under 2019 Buyback Program	(92)	0	0	(92)	0
Amortization of fair value of equity-based awards	128	0	0	128	0
Cash flow hedges	(162)	(162)	0	0	0
Other, net	(66)	0	(2)	(64)	0
Balance at Sep. 30, 2023	28,222	203	1,072	28,244	(1,297)
Balance at Jun. 30, 2023	28,022	268	1,071	27,980	(1,297)
Increase (Decrease) in Partners' Equity [Roll Forward]
Net income	1,349	0	31	1,318	0
Cash distributions paid to common unitholders	(1,086)	0	0	(1,086)	0
Cash payments made in connection with distribution equivalent rights	(10)	0	0	(10)	0
Cash distributions paid to noncontrolling interests	(40)	0	(40)	0	0
Cash contributions from noncontrolling interests	10	0	10	0	0
Amortization of fair value of equity-based awards	43	0	0	43	0
Cash flow hedges	(65)	(65)	0	0	0
Other, net	(1)	0	0	(1)	0
Balance at Sep. 30, 2023	$ 28,222	$ 203	$ 1,072	$ 28,244	$ (1,297)

Partnership Organization and Op

Partnership Organization and Operations	9 Months Ended
	Sep. 30, 2023
Partnership Organization and Operations [Abstract]
Partnership Organization and Operations	KEY REFERENCES USED IN THESE NOTES TO UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS Unless the context requires otherwise, references to “we,” “us” or “our” within these Notes to Unaudited Condensed Consolidated Financial Statements are intended to mean the business and operations of Enterprise Products Partners L.P. and its consolidated subsidiaries. References to the “Partnership” or “Enterprise” mean Enterprise Products Partners L.P. on a standalone basis. References to “EPO” mean Enterprise Products Operating LLC, which is an indirect wholly owned subsidiary of the Partnership, and its consolidated subsidiaries, through which the Partnership conducts its business. We are managed by our general partner, Enterprise Products Holdings LLC (“Enterprise GP”), which is a wholly owned subsidiary of Dan Duncan LLC, a privately held Texas limited liability company. The membership interests of Dan Duncan LLC are owned by a voting trust, the current trustees (“DD LLC Trustees”) of which are: (i) Randa Duncan Williams, who is also a director and Chairman of the Board of Directors of Enterprise GP (the “Board”); (ii) Richard H. Bachmann, who is also a director and Vice Chairman of the Board; and (iii) W. Randall Fowler, who is also a director and the Co-Chief Executive Officer and Chief Financial Officer of Enterprise GP. Ms. Duncan Williams and Messrs. Bachmann and Fowler also currently serve as managers of Dan Duncan LLC. References to “EPCO” mean Enterprise Products Company, a privately held Texas corporation, and its privately held affiliates. The outstanding voting capital stock of EPCO is owned by a voting trust, the current trustees (“EPCO Trustees”) of which are: (i) Ms. Duncan Williams, who serves as Chairman of EPCO; (ii) Mr. Bachmann, who serves as the President and Chief Executive Officer of EPCO; and (iii) Mr. Fowler, who serves as an Executive Vice President and the Chief Financial Officer of EPCO. Ms. Duncan Williams and Messrs. Bachmann and Fowler also currently serve as directors of EPCO. We, Enterprise GP, EPCO and Dan Duncan LLC are affiliates under the collective common control of the DD LLC Trustees and the EPCO Trustees. EPCO, together with its privately held affiliates, owned approximately 32.3% of the Partnership’s common units outstanding at September 30, 2023. With the exception of per unit amounts, or as noted within the context of each disclosure, the dollar amounts presented in the tabular data within these disclosures are stated in millions of dollars. Note 1. Partnership Organization and Operations We are a publicly traded Delaware limited partnership, the common units of which are listed on the New York Stock Exchange (“NYSE”) under the ticker symbol “EPD.” Our preferred units are not publicly traded. We were formed in April 1998 to own and operate certain natural gas liquids (“NGLs”) related businesses of EPCO and are a leading North American provider of midstream energy services to producers and consumers of natural gas, NGLs, crude oil, petrochemicals and refined products. We are owned by our limited partners (preferred and common unitholders) from an economic perspective. Enterprise GP, which owns a non-economic general partner interest in us, manages our Partnership. We conduct substantially all of our business operations through EPO and its consolidated subsidiaries. Our fully integrated, midstream energy asset network (or “value chain”) links producers of natural gas, NGLs and crude oil from some of the largest supply basins in the United States (“U.S.”), Canada and the Gulf of Mexico with domestic consumers and international markets. Our midstream energy operations include: • natural gas gathering, treating, processing, transportation and storage; • NGL transportation, fractionation, storage, and marine terminals (including those used to export liquefied petroleum gases (“LPG”) and ethane); • crude oil gathering, transportation, storage, and marine terminals; • propylene production facilities (including propane dehydrogenation (“PDH”) facilities), butane isomerization, octane enhancement, isobutane dehydrogenation (“iBDH”) and high purity isobutylene (“HPIB”) production facilities; • petrochemical and refined products transportation, storage, and marine terminals (including those used to export ethylene and polymer grade propylene (“PGP”)); and • a marine transportation business that operates on key U.S. inland and intracoastal waterway systems. Like many publicly traded partnerships, we have no employees. All of our management, administrative and operating functions are performed by employees of EPCO pursuant to an administrative services agreement (the “ASA”) or by other service providers. See Note 14 for information regarding related party matters. Our results of operations for the nine months ended September 30, 2023 are not necessarily indicative of results expected for the full year of 2023. In our opinion, the accompanying Unaudited Condensed Consolidated Financial Statements include all adjustments consisting of normal recurring accruals necessary for fair presentation. Although we believe the disclosures in these financial statements are adequate and make the information presented not misleading, certain information and footnote disclosures normally included in annual financial statements prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) have been condensed or omitted pursuant to the rules and regulations of the U.S. Securities and Exchange Commission (“SEC”). These Unaudited Condensed Consolidated Financial Statements and Notes thereto should be read in conjunction with the Audited Consolidated Financial Statements and Notes thereto included in our annual report on Form 10-K for the year ended December 31, 2022 (the “2022 Form 10-K”) filed with the SEC on February 28, 2023.

Summary of Significant Accounti

Summary of Significant Accounting Policies	9 Months Ended
	Sep. 30, 2023
Summary of Significant Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Note 2. Summary of Significant Accounting Policies Apart from those matters described in this footnote, there have been no updates to our significant accounting policies since those reported under Note 2 of the 2022 Form 10-K. Allowance for Credit Losses We estimate our allowance for credit losses at each reporting date using a current expected credit loss model, which requires the measurement of expected credit losses for financial assets (e.g., accounts receivable) based on historical experience with customers, current economic conditions, and reasonable and supportable forecasts. We may also increase the allowance for credit losses in response to the specific identification of customers involved in bankruptcy proceedings and similar financial difficulties. The following table presents our allowance for credit losses activity since December 31, 2022: Allowance for credit losses, December 31, 2022 $ 54 Charged to costs and expenses – Charged to other accounts – Deductions (5 ) Allowance for credit losses, September 30, 2023 $ 49 Cash, Cash Equivalents and Restricted Cash The following table provides a reconciliation of cash and cash equivalents, and restricted cash reported within the Unaudited Condensed Consolidated Balance Sheets that sum to the total of the amounts shown in the Unaudited Condensed Statements of Consolidated Cash Flows. September 30, 2023 December 31, 2022 Cash and cash equivalents $ 171 $ 76 Restricted cash 143 130 Total cash, cash equivalents and restricted cash shown in the Unaudited Condensed Statements of Consolidated Cash Flows $ 314 $ 206 Restricted cash primarily represents amounts held in segregated bank accounts by our clearing brokers as margin in support of our commodity derivative instruments portfolio and related physical purchases and sales of natural gas, NGLs, crude oil, refined products and power. Additional cash may be restricted to maintain our commodity derivative instruments portfolio as prices fluctuate or margin requirements change. See Note 13 for information regarding our derivative instruments and hedging activities.

Inventories

Inventories	9 Months Ended
	Sep. 30, 2023
Inventories [Abstract]
Inventories	Note 3. Inventories Our inventory amounts by product type were as follows at the dates indicated: September 30, 2023 December 31, 2022 NGLs $ 2,550 $ 1,689 Petrochemicals and refined products 400 430 Crude oil 388 411 Natural gas 7 24 Total $ 3,345 $ 2,554 Due to fluctuating commodity prices, we recognize lower of cost or net realizable value adjustments when the carrying value of our available-for-sale inventories exceeds their net realizable value. The following table presents our total cost of sales amounts and lower of cost or net realizable value adjustments for the periods indicated: For the Three Months Ended September 30, For the Nine Months Ended September 30, 2023 2022 2023 2022 Cost of sales (1) $ 8,786 $ 12,319 $ 25,796 $ 35,325 Lower of cost or net realizable value adjustments recognized in cost of sales 8 11 17 18 (1) Cost of sales is a component of “Operating costs and expenses” as presented on our Unaudited Condensed Statements of Consolidated Operations. Fluctuations in these amounts are primarily due to changes in energy commodity prices and sales volumes associated with our marketing activities.

Property, Plant and Equipment

Property, Plant and Equipment	9 Months Ended
	Sep. 30, 2023
Property, Plant and Equipment [Abstract]
Property, Plant and Equipment	Note 4. Property, Plant and Equipment The historical costs of our property, plant and equipment and related balances were as follows at the dates indicated: Estimated Useful Life in Years September 30, 2023 December 31, 2022 Plants, pipelines and facilities (1)(5) 3-45 $ 57,337 $ 54,396 Underground and other storage facilities (2)(6) 5-40 4,374 4,329 Transportation equipment (3) 3-10 235 222 Marine vessels (4) 15-30 934 921 Land 398 387 Construction in progress 2,006 2,867 Subtotal 65,284 63,122 Less accumulated depreciation 19,995 18,800 Subtotal property, plant and equipment, net 45,289 44,322 Capitalized major maintenance costs for reaction-based plants, net of accumulated amortization (7) 51 79 Property, plant and equipment, net $ 45,340 $ 44,401 (1) Plants, pipelines and facilities include distillation-based and reaction-based plants; NGL, natural gas, crude oil and petrochemical and refined products pipelines; terminal loading and unloading facilities; buildings; office furniture and equipment; laboratory and shop equipment and related assets. (2) Underground and other storage facilities include underground product storage caverns; above ground storage tanks; water wells and related assets. (3) Transportation equipment includes tractor-trailer tank trucks and other vehicles and similar assets used in our operations. (4) Marine vessels include tow boats, barges and related equipment used in our marine transportation business. (5) In general, the estimated useful lives of major assets within this category are: distillation-based and reaction-based plants, 20-35 years; pipelines and related equipment, 5-45 years; terminal facilities, 10-35 years; buildings, 20-40 years; office furniture and equipment, 3-20 years; and laboratory and shop equipment, 5-35 years. (6) In general, the estimated useful lives of assets within this category are: underground storage facilities, 5-35 years; storage tanks, 10-40 years; and water wells, 5-35 years. (7) For reaction-based plants, we use the deferral method when accounting for major maintenance activities. Under the deferral method, major maintenance costs are capitalized and amortized over the period until the next major overhaul project. On a weighted-average basis, the expected remaining amortization period for these costs is 0.9 years. Property, plant and equipment at September 30, 2023 and December 31, 2022 includes $107 million and $117 million, respectively, of asset retirement costs capitalized as an increase in the associated long-lived asset. The following table presents information regarding our asset retirement obligations, or AROs, since December 31, 2022: ARO liability balance, December 31, 2022 $ 234 Liabilities incurred (1) 2 Revisions in estimated cash flows (2) (11 ) Liabilities settled (3) (11 ) Accretion expense (4) 9 ARO liability balance, September 30, 2023 $ 223 (1) Represents the initial recognition of estimated ARO liabilities during period. (2) Represents subsequent adjustments to estimated ARO liabilities during period. (3) Represents cash payments to settle ARO liabilities during period. (4) Represents net change in ARO liability balance attributable to the passage of time and other adjustments, including true-up amounts associated with revised closure estimates. Of the $ million total ARO liability recorded at , $ million was reflected as a current liability and $ million as a long-term liability. The following table summarizes our depreciation expense and capitalized interest amounts for the periods indicated: For the Three Months Ended September 30, For the Nine Months Ended September 30, 2023 2022 2023 2022 Depreciation expense (1) $ 476 $ 446 $ 1,379 $ 1,329 Capitalized interest (2) 17 22 86 60 (1) Depreciation expense is a component of “Costs and expenses” as presented on our Unaudited Condensed Statements of Consolidated Operations. (2) We capitalize interest costs incurred on funds used to construct property, plant and equipment while the asset is in its construction phase. The capitalized interest is recorded as part of the asset to which it relates and is amortized over the asset’s estimated useful life as a component of depreciation expense. When capitalized interest is recorded, it reduces interest expense from what it would be otherwise.

Investments in Unconsolidated A

Investments in Unconsolidated Affiliates	9 Months Ended
	Sep. 30, 2023
Investments in Unconsolidated Affiliates [Abstract]
Investments in Unconsolidated Affiliates	Note 5. Investments in Unconsolidated Affiliates The following table presents our investments in unconsolidated affiliates by business segment at the dates indicated. We account for these investments using the equity method. September 30, 2023 December 31, 2022 NGL Pipelines & Services $ 618 $ 640 Crude Oil Pipelines & Services 1,684 1,677 Natural Gas Pipelines & Services 32 32 Petrochemical & Refined Products Services 3 3 Total $ 2,337 $ 2,352 The following table presents our equity in income of unconsolidated affiliates by business segment for the periods indicated: For the Three Months Ended September 30, For the Nine Months Ended September 30, 2023 2022 2023 2022 NGL Pipelines & Services $ 32 $ 39 $ 101 $ 109 Crude Oil Pipelines & Services 89 70 241 221 Natural Gas Pipelines & Services 1 2 4 4 Petrochemical & Refined Products Services – – 1 1 Total $ 122 $ 111 $ 347 $ 335

Intangible Assets and Goodwill

Intangible Assets and Goodwill	9 Months Ended
	Sep. 30, 2023
Intangible Assets and Goodwill [Abstract]
Intangible Assets and Goodwill	Note 6. Intangible Assets and Goodwill Identifiable Intangible Assets The following table summarizes our intangible assets by business segment at the dates indicated: September 30, 2023 December 31, 2022 Gross Value Accumulated Amortization Carrying Value Gross Value Accumulated Amortization Carrying Value NGL Pipelines & Services: Customer relationship intangibles $ 449 $ (260 ) $ 189 $ 449 $ (249 ) $ 200 Contract-based intangibles 752 (102 ) 650 749 (84 ) 665 Segment total 1,201 (362 ) 839 1,198 (333 ) 865 Crude Oil Pipelines & Services: Customer relationship intangibles 2,195 (504 ) 1,691 2,195 (431 ) 1,764 Contract-based intangibles 283 (274 ) 9 283 (271 ) 12 Segment total 2,478 (778 ) 1,700 2,478 (702 ) 1,776 Natural Gas Pipelines & Services: Customer relationship intangibles 1,350 (615 ) 735 1,350 (588 ) 762 Contract-based intangibles 640 (205 ) 435 639 (195 ) 444 Segment total 1,990 (820 ) 1,170 1,989 (783 ) 1,206 Petrochemical & Refined Products Services: Customer relationship intangibles 181 (85 ) 96 181 (80 ) 101 Contract-based intangibles 45 (29 ) 16 45 (28 ) 17 Segment total 226 (114 ) 112 226 (108 ) 118 Total intangible assets $ 5,895 $ (2,074 ) $ 3,821 $ 5,891 $ (1,926 ) $ 3,965 The following table presents the amortization expense of our intangible assets by business segment for the periods indicated: For the Three Months Ended September 30, For the Nine Months Ended September 30, 2023 2022 2023 2022 NGL Pipelines & Services $ 10 $ 10 $ 29 $ 27 Crude Oil Pipelines & Services 28 21 76 62 Natural Gas Pipelines & Services 12 13 37 38 Petrochemical & Refined Products Services 2 2 6 5 Total $ 52 $ 46 $ 148 $ 132 The following table presents our forecast of amortization expense associated with existing intangible assets for the periods indicated: Remainder of 2023 2024 2025 2026 2027 $ 55 $ 222 $ 231 $ 237 $ 236 Goodwill Goodwill represents the excess of the purchase price of an acquired business over the amounts assigned to assets acquired and liabilities assumed in the transaction. There has been no change in our goodwill amounts since those reported in our 2022 Form 10-K.

Debt Obligations

Debt Obligations	9 Months Ended
	Sep. 30, 2023
Debt Obligations [Abstract]
Debt Obligations	Note 7. Debt Obligations The following table presents our consolidated debt obligations (arranged by company and maturity date) at the dates indicated: September 30, 2023 December 31, 2022 EPO senior debt obligations: Commercial Paper Notes, variable-rates $ 620 $ 495 Senior Notes HH, 3.35 – 1,250 Senior Notes JJ, 3.90 850 850 March 2023 $1.5 Billion 364-Day Revolving Credit Agreement, variable-rate, due March 2024 (1) – – Senior Notes MM, 3.75 1,150 1,150 Senior Notes FFF, 5.05 750 – Senior Notes PP, 3.70 875 875 Senior Notes SS, 3.95 575 575 March 2023 $2.7 Billion Multi-Year Revolving Credit Agreement, variable-rate, due March 2028 (2) – – Senior Notes WW, 4.15 1,000 1,000 Senior Notes YY, 3.125 1,250 1,250 Senior Notes AAA, 2.80 1,250 1,250 Senior Notes GGG, 5.35 1,000 – Senior Notes D, 6.875 500 500 Senior Notes H, 6.65 350 350 Senior Notes J, 5.75 250 250 Senior Notes W, 7.55 400 400 Senior Notes R, 6.125 600 600 Senior Notes Z, 6.45 600 600 Senior Notes BB, 5.95 750 750 Senior Notes DD, 5.70 600 600 Senior Notes EE, 4.85 750 750 Senior Notes GG, 4.45 1,100 1,100 Senior Notes II, 4.85 1,400 1,400 Senior Notes KK, 5.10 1,150 1,150 Senior Notes QQ, 4.90 975 975 Senior Notes UU, 4.25 1,250 1,250 Senior Notes XX, 4.80 1,250 1,250 Senior Notes ZZ, 4.20 1,250 1,250 Senior Notes BBB, 3.70 1,000 1,000 Senior Notes DDD, 3.20 1,000 1,000 Senior Notes EEE, 3.30 1,000 1,000 Senior Notes NN, 4.95 400 400 Senior Notes CCC, 3.95 1,000 1,000 Total principal amount of senior debt obligations 26,895 26,270 EPO Junior Subordinated Notes C, variable-rate, due June 2067 232 232 EPO Junior Subordinated Notes D, variable-rate, due August 2077 350 350 EPO Junior Subordinated Notes E, fixed/variable-rate, due August 2077 1,000 1,000 EPO Junior Subordinated Notes F, fixed/variable-rate, due February 2078 700 700 TEPPCO Junior Subordinated Notes, variable-rate, due June 2067 14 14 Total principal amount of senior and junior debt obligations 29,191 28,566 Other, non-principal amounts (275 ) (271 ) Less current maturities of debt (1,470 ) (1,744 ) Total long-term debt $ 27,446 $ 26,551 (1) Under the terms of the agreement, EPO may borrow up to $1.5 billion (which may be increased by up to $200 million to $1.7 billion at EPO’s election provided certain conditions are met). (2) Under the terms of the agreement, EPO may borrow up to $2.7 billion (which may be increased by up to $500 million to $3.2 billion at EPO’s election provided certain conditions are met). (3) Variable rate is reset quarterly and based on 3-month Chicago Mercantile Exchange (“CME”) Term Secured Overnight Financing Rate (“SOFR”) plus (a) a 0.26161% tenor spread adjustment and (b) 2.778%. (4) Variable rate is reset quarterly and based on 3-month CME Term SOFR plus (a) a 0.26161% tenor spread adjustment and (b) 2.986%. (5) Fixed rate of 5.250% through August 15, 2027; thereafter, a variable rate reset quarterly and based on 3-month CME Term SOFR plus (a) a 0.26161% tenor spread adjustment and (b) 3.033%. (6) Fixed rate of 5.375% through February 14, 2028; thereafter, a variable rate reset quarterly and based on 3-month CME Term SOFR plus (a) a 0.26161% tenor spread adjustment and (b) 2.57%. (7) Effective July 1, 2023, all series of our junior subordinated notes subject to a variable interest rate replaced the 3-month London Interbank Offered Rate (“LIBOR”) with 3-month CME Term SOFR plus a 0.26161% tenor spread adjustment. See discussion below in “Variable Interest Rates” regarding the LIBOR replacement and LIBOR replacement rate. References to “TEPPCO” mean TEPPCO Partners, L.P. prior to its merger with one of our wholly owned subsidiaries in October 2009. Variable Interest Rates The following table presents the range of interest rates and weighted-average interest rates paid on our consolidated variable-rate debt during the nine months ended September 30, 2023: Range of Interest Rates Paid Weighted-Average Interest Rate Paid Commercial Paper Notes 4.59% to 5.56% 5.34% EPO Junior Subordinated Notes C and TEPPCO Junior Subordinated Notes 7.54% to 8.45% 7.95% EPO Junior Subordinated Notes D 7.63% to 8.62% 8.10% Amounts borrowed under EPO’s March 2023 $1.5 Billion 364-Day Revolving Credit Agreement and March 2023 $2.7 Billion Multi-Year Revolving Credit Agreement bear interest, at EPO’s election, equal to: (i) SOFR, plus an additional variable spread; or (ii) an alternate base rate, which is the greatest of (a) the Prime Rate in effect on such day, (b) the Federal Funds Effective Rate in effect on such day plus 0.5%, or (c) Adjusted Term SOFR, for an interest period of one month in effect on such day plus 1%, and a variable spread. The applicable spreads are determined based on EPO's debt ratings. In July 2017, the Financial Conduct Authority in the U.K. announced a desire to phase out LIBOR as a benchmark by the end of June 2023. In December 2022, the Board of Governors of the Federal Reserve System approved a final rule to implement the Adjustable Interest Rate (LIBOR) Act, which established benchmark replacements for certain contracts that reference various tenors of LIBOR and do not provide an alternative rate or would result in a rate that is expressed in terms of the last known value of LIBOR (typically referred to as a “frozen LIBOR” provision). The final rule became effective during the first quarter of 2023. As a result of the LIBOR Act, our Junior Subordinated Notes C and D and the TEPPCO Junior Subordinated Notes, which were subject to a variable rate (as defined by the applicable agreement) based on three-month LIBOR (in each case, a “LIBOR Rate”) through June 30, 2023, replaced the applicable LIBOR Rate with a variable rate based on the three-month CME Term SOFR as administered by the CME Group Benchmark Administration, Ltd. plus a 0.26161% tenor spread adjustment beginning on July 1, 2023. Additionally, our Junior Subordinated Notes E and F, which would have been subject to a variable rate (as defined by the applicable agreement) based on three-month LIBOR beginning in August 2027 and February 2028, respectively, will replace the applicable LIBOR Rate with the three-month CME Term SOFR plus a 0.26161% tenor spread adjustment. The foregoing tenor spread adjustment will be in addition to the applicable spread under the terms of each series of Junior Subordinated Notes. We do not expect the transition from LIBOR to have a material financial impact on us. Scheduled Maturities of Debt The following table presents the scheduled maturities of principal amounts of EPO’s consolidated debt obligations at September 30, 2023 for the next five years, and in total thereafter: Scheduled Maturities of Debt Total Remainder of 2023 2024 2025 2026 2027 Thereafter Commercial Paper Notes $ 620 $ 620 $ – $ – $ – $ – $ – Senior Notes 26,275 – 850 1,150 1,625 575 22,075 Junior Subordinated Notes 2,296 – – – – – 2,296 Total $ 29,191 $ 620 $ 850 $ 1,150 $ 1,625 $ 575 $ 24,371 March 2023 $1.5 Billion 364-Day Revolving Credit Agreement In March 2023, EPO entered into a new 364-Day Revolving Credit Agreement (the “March 2023 $1.5 Billion 364-Day Revolving Credit Agreement”) that replaced its September 2022 364-Day Revolving Credit Agreement. There were no principal amounts outstanding under the September 2022 364-Day Revolving Credit Agreement when it was replaced by the March 2023 $1.5 Billion 364-Day Revolving Credit Agreement. As of September 30, 2023, there were no principal amounts outstanding under the March 2023 $1.5 Billion 364-Day Revolving Credit Agreement. Under the terms of the March 2023 $1.5 Billion 364-Day Revolving Credit Agreement, EPO may borrow up to $1.5 billion (which may be increased by up to $200 million to $1.7 billion at EPO’s election, provided certain conditions are met) at a variable interest rate for a term of up to 364 days, subject to the terms and conditions set forth therein. The March 2023 $1.5 Billion 364-Day Revolving Credit Agreement matures in March 2024. To the extent that principal amounts are outstanding at the maturity date, EPO may elect to have the entire principal balance then outstanding continued as non-revolving term loans for a period of one additional year, payable in March 2025. Borrowings under the March 2023 $1.5 Billion 364-Day Revolving Credit Agreement may be used for working capital, capital expenditures, acquisitions and general company purposes. The March 2023 $1.5 Billion 364-Day Revolving Credit Agreement contains customary representations, warranties, covenants (affirmative and negative) and events of default, the occurrence of which would permit the lenders to accelerate the maturity date of any amounts borrowed under this credit agreement. The March 2023 $1.5 Billion 364-Day Revolving Credit Agreement also restricts EPO’s ability to pay cash distributions to the Partnership, if an event of default (as defined in the credit agreement) has occurred and is continuing at the time such distribution is scheduled to be paid or would result therefrom. EPO’s obligations under the March 2023 $1.5 Billion 364-Day Revolving Credit Agreement are not secured by any collateral; however, they are guaranteed by the Partnership. March 2023 $2.7 Billion Multi-Year Revolving Credit Agreement In March 2023, EPO entered into a new revolving credit agreement that matures in March 2028 (the “March 2023 $2.7 Billion Multi-Year Revolving Credit Agreement”). The March 2023 $2.7 Billion Multi-Year Revolving Credit Agreement replaced EPO’s prior multi-year revolving credit agreement that was scheduled to mature in September 2026. There were no principal amounts outstanding under the prior multi-year revolving credit agreement when it was replaced by the March 2023 $2.7 Billion Multi-Year Revolving Credit Agreement. As of , there were no principal amounts outstanding under the March 2023 $2.7 Billion Multi-Year Revolving Credit Agreement. Under the terms of the March 2023 $2.7 Billion Multi-Year Revolving Credit Agreement, EPO may borrow up to $2.7 billion (which may be increased by up to $500 million to $3.2 billion at EPO’s election, provided certain conditions are met) at a variable interest rate for a term of five years, subject to the terms and conditions set forth therein. The March 2023 $2.7 Billion Multi-Year Revolving Credit Agreement matures in March 2028, although the maturity date may be extended at EPO’s request (up to two requests) for a one-year extension of the maturity date by delivering a request prior to the maturity date and with the consent of required lenders as set forth under the March 2023 $2.7 Billion Multi-Year Revolving Credit Agreement. Borrowings under the March 2023 $2.7 Billion Multi-Year Revolving Credit Agreement may be used for working capital, capital expenditures, acquisitions and general company purposes. The March 2023 $2.7 Billion Multi-Year Revolving Credit Agreement contains customary representations, warranties, covenants (affirmative and negative) and events of default, the occurrence of which would permit the lenders to accelerate the maturity date of any amounts borrowed under this credit agreement. The March 2023 $2.7 Billion Multi-Year Revolving Credit Agreement also restricts EPO’s ability to pay cash distributions to the Partnership, if an event of default (as defined in the credit agreement) has occurred and is continuing at the time such distribution is scheduled to be paid or would result therefrom. EPO’s obligations under the March 2023 $2.7 Billion Multi-Year Revolving Credit Agreement are not secured by any collateral; however, they are guaranteed by the Partnership. Issuance of $1.75 Billion of Senior Notes in January 2023 In January 2023, EPO issued $1.75 billion aggregate principal amount of senior notes comprised of (i) $750 million principal amount of senior notes due January 2026 (“Senior Notes FFF”) and (ii) $1.0 billion principal amount of senior notes due January 2033 (“Senior Notes GGG”). Net proceeds from this offering were used by EPO for general company purposes, including for growth capital investments, and the repayment of debt (including the repayment of all of our $ billion principal amount of Senior Notes HH at their maturity in March 2023 and amounts outstanding under our commercial paper program). Senior Notes FFF were issued at 99.893% of their principal amount and have a fixed-rate interest rate of 5.05% per year. Senior Notes GGG were issued at 99.803% of their principal amount and have a fixed-rate interest rate of 5.35% per year. The Partnership guaranteed these senior notes through an unconditional guarantee on an unsecured and unsubordinated basis. Letters of Credit At September 30, 2023, EPO had $152 million of letters of credit outstanding primarily related to our commodity hedging activities. Lender Financial Covenants We were in compliance with the financial covenants of our consolidated debt agreements at September 30, 2023. Parent-Subsidiary Guarantor Relationships The Partnership acts as guarantor of the consolidated debt obligations of EPO, with the exception of the remaining debt obligations of TEPPCO. If EPO were to default on any of its guaranteed debt, the Partnership would be responsible for full and unconditional repayment of such obligations.

Capital Accounts

Capital Accounts	9 Months Ended
	Sep. 30, 2023
Capital Accounts [Abstract]
Capital Accounts	Note 8. Capital Accounts Common Limited Partner Interests The following table summarizes changes in the number of our common units outstanding since December 31, 2022: Common units outstanding at December 31, 2022 2,170,806,347 Common unit repurchases under 2019 Buyback Program (682,589 ) Common units issued in connection with the vesting of phantom unit awards, net 4,364,301 Other 20,892 Common units outstanding at March 31, 2023 2,174,508,951 Common unit repurchases under 2019 Buyback Program (2,910,121 ) Common units issued in connection with the vesting of phantom unit awards, net 153,502 Common units outstanding at June 30, 2023 2,171,752,332 Common units issued in connection with the vesting of phantom unit awards, net 126,671 Common units outstanding at September 30, 2023 2,171,879,003 Registration Statements We have a universal shelf registration statement on file with the SEC which allows the Partnership and EPO (each on a standalone basis) to issue an unlimited amount of equity and debt securities, respectively. In addition, the Partnership has a registration statement on file with the SEC covering the issuance of up to $ billion of its common units in amounts, at prices and on terms based on market conditions and other factors at the time of such offerings (referred to as the Partnership’s at-the-market (“ATM”) program). The Partnership did not issue any common units under its ATM program during the . The Partnership’s capacity to issue additional common units under the ATM program remains at We may issue additional equity and debt securities to assist us in meeting our future liquidity requirements, including those related to capital investments. Common Unit Repurchases Under 2019 Buyback Program In January 2019, we announced that the Board had approved a $2.0 billion multi-year unit buyback program (the “2019 Buyback Program”), which provides the Partnership with an additional method to return capital to investors. The 2019 Buyback Program authorizes the Partnership to repurchase its common units from time to time, including through open market purchases and negotiated transactions. No time limit has been set for completion of the program, and it may be suspended or discontinued at any time. The Partnership elected not to repurchase common units during the three months ended September 30, 2023. During the nine months ended September 30, 2023, the Partnership repurchased 3,592,710 common units under the 2019 Buyback Program through open market purchases . The total cost of these repurchases, including commissions and fees, was $ million. During the three and , the Partnership repurchased and common units, respectively, under the 2019 Buyback Program through open market purchases. The total cost of these repurchases, including commissions and fees, was $ million and $ million, respectively. Common units 2019 Buyback Program was $ Common Units Issued in Connection With the Vesting of Phantom Unit Awards After taking into account tax withholding requirements, the Partnership issued new during the Common Units Delivered Under DRIP and EUPP The Partnership has registration statements on file with the SEC in connection with its distribution reinvestment plan (“DRIP”) and employee unit purchase plan (“EUPP”). In July 2019, the Partnership announced that, beginning with the quarterly distribution payment paid in August 2019, it would use common units purchased on the open market, rather than issuing new common units, to satisfy its delivery obligations under the DRIP and EUPP. This election is subject to change in future quarters depending on the Partnership’s need for equity capital. During the , agents of the Partnership purchased million Preferred Units There were 50,412 of our Series A Cumulative Convertible Preferred Units (“preferred units”) outstanding at September 30, 2023. We present the capital accounts attributable to our preferred unitholders as mezzanine equity on our consolidated balance sheets since the terms of the preferred units allow for cash redemption by such unitholders in the event of a Change of Control (as defined in our partnership agreement), without regard to the likelihood of such an event. During the nine months ended September 30, 2023, the Partnership made quarterly cash distributions to its preferred unitholders of $3 million. Accumulated Other Comprehensive Income (Loss) The following tables present the components of accumulated other comprehensive income (loss) as reported on our Unaudited Condensed Consolidated Balance Sheets at the dates indicated: Cash Flow Hedges Commodity Derivative Instruments Interest Rate Derivative Instruments Other Total Accumulated Other Comprehensive Income (Loss), December 31, 2022 $ 171 $ 192 $ 2 $ 365 Other comprehensive income (loss) for period, before reclassifications (139 ) (5 ) – (144 ) Reclassification of losses (gains) to net income during period (15 ) (3 ) – (18 ) Total other comprehensive income (loss) for period (154 ) (8 ) – (162 ) Accumulated Other Comprehensive Income (Loss), September 30, 2023 $ 17 $ 184 $ 2 $ 203 Cash Flow Hedges Commodity Derivative Instruments Interest Rate Derivative Instruments Other Total Accumulated Other Comprehensive Income (Loss), December 31, 2021 $ 137 $ 147 $ 2 $ 286 Other comprehensive income (loss) for period, before reclassifications 126 – – 126 Reclassification of losses (gains) to net income during period (54 ) 15 – (39 ) Total other comprehensive income (loss) for period 72 15 – 87 Accumulated Other Comprehensive Income (Loss), September 30, 2022 $ 209 $ 162 $ 2 $ 373 The following table presents reclassifications of (income) loss out of accumulated other comprehensive income into net income during the periods indicated: For the Three Months Ended September 30, For the Nine Months Ended September 30, Losses (gains) on cash flow hedges: Location 2023 2022 2023 2022 Interest rate derivatives Interest expense $ (2 ) $ 1 $ (3 ) $ 15 Commodity derivatives Revenue 58 35 7 (12 ) Commodity derivatives Operating costs and expenses (25 ) (26 ) (22 ) (42 ) Total $ 31 $ 10 $ (18 ) $ (39 ) For information regarding our interest rate and commodity derivative instruments, see Note 13. Cash Distributions On October 5, 2023, we announced that the Board declared a quarterly cash distribution of $0.50 per common unit, or $2.00 per common unit on an annualized basis, to be paid to the Partnership’s common unitholders with respect to the third quarter of 2023. The quarterly distribution is payable on November 14, 2023 to unitholders of record as of the close of business on October 31, 2023. The total amount to be paid is $1.1 billion, which includes $10 million for distribution equivalent rights (“DERs”) on phantom unit awards. The payment of quarterly cash distributions is subject to management’s evaluation of our financial condition, results of operations and cash flows in connection with such payments and Board approval. Management will evaluate any future increases in cash distributions on a quarterly basis.

Revenues

Revenues	9 Months Ended
	Sep. 30, 2023
Revenues [Abstract]
Revenues	Note 9. Revenues We classify our revenues into sales of products and midstream services. Product sales relate primarily to our various marketing activities whereas midstream services represent our other integrated businesses (i.e., gathering, processing, transportation, fractionation, storage and terminaling). The following table presents our revenues by business segment, and further by revenue type, for the periods indicated: For the Three Months Ended September 30, For the Nine Months Ended September 30, 2023 2022 2023 2022 NGL Pipelines & Services: Sales of NGLs and related products $ 3,021 $ 5,519 $ 10,325 $ 16,139 Segment midstream services: Natural gas processing and fractionation 344 340 944 1,143 Transportation 286 250 798 708 Storage and terminals 106 128 308 381 Total segment midstream services 736 718 2,050 2,232 Total NGL Pipelines & Services 3,757 6,237 12,375 18,371 Crude Oil Pipelines & Services: Sales of crude oil 5,068 4,455 12,999 13,202 Segment midstream services: Transportation 194 162 549 650 Storage and terminals 103 107 302 329 Total segment midstream services 297 269 851 979 Total Crude Oil Pipelines & Services 5,365 4,724 13,850 14,181 Natural Gas Pipelines & Services: Sales of natural gas 537 1,556 1,828 3,795 Segment midstream services: Transportation 347 330 1,046 901 Total segment midstream services 347 330 1,046 901 Total Natural Gas Pipelines & Services 884 1,886 2,874 4,696 Petrochemical & Refined Products Services: Sales of petrochemicals and refined products 1,647 2,346 5,052 6,470 Segment midstream services: Fractionation and isomerization 94 56 208 172 Transportation, including marine logistics 171 149 486 426 Storage and terminals 80 70 248 220 Total segment midstream services 345 275 942 818 Total Petrochemical & Refined Products Services 1,992 2,621 5,994 7,288 Total consolidated revenues $ 11,998 $ 15,468 $ 35,093 $ 44,536 Substantially all of our revenues are derived from contracts with customers as defined within Accounting Standards Codification (“ASC”) 606, Revenue from Contracts with Customers Unbilled Revenue and Deferred Revenue The following table provides information regarding our contract assets and contract liabilities at September 30, 2023: Contract Asset Location Balance Unbilled revenue (current amount) Prepaid and other current assets $ 12 Total $ 12 Contract Liability Location Balance Deferred revenue (current amount) Other current liabilities $ 159 Deferred revenue (noncurrent) Other long-term liabilities 315 Total $ 474 The following table presents significant changes in our unbilled revenue and deferred revenue balances for the nine months ended September 30, 2023: Unbilled Revenue Deferred Revenue Balance at December 31, 2022 $ 6 $ 501 Amount included in opening balance transferred to other accounts during period (1) (6 ) (234 ) Amount recorded during period (2) 59 676 Amounts recorded during period transferred to other accounts (1) (47 ) (457 ) Other changes – (12 ) Balance at September 30, 2023 $ 12 $ 474 (1) Unbilled revenues are transferred to accounts receivable once we have an unconditional right to consideration from the customer. Deferred revenues are recognized as revenue upon satisfaction of our performance obligation to the customer. (2) Unbilled revenue represents revenue that has been recognized upon satisfaction of a performance obligation, but cannot be contractually invoiced (or billed) to the customer at the balance sheet date until a future period. Deferred revenue is recorded when payment is received from a customer prior to our satisfaction of the associated performance obligation. Remaining Performance Obligations The following table presents estimated fixed future consideration from revenue contracts that contain minimum volume commitments, deficiency and similar fees and the term of the contracts exceeds one year. These amounts represent the revenues we expect to recognize in future periods from these contracts as of September 30, 2023. Period Fixed Consideration Three Months Ended December 31, 2023 $ 1,036 One Year Ended December 31, 2024 3,815 One Year Ended December 31, 2025 3,388 One Year Ended December 31, 2026 3,130 One Year Ended December 31, 2027 2,884 Thereafter – 11,465 Total $ 25,718

Business Segments and Related I

Business Segments and Related Information	9 Months Ended
	Sep. 30, 2023
Business Segments [Abstract]
Business Segments	Note 10. Business Segments and Related Information Our operations are reported under four business segments: (i) NGL Pipelines & Services, (ii) Crude Oil Pipelines & Services, (iii) Natural Gas Pipelines & Services and (iv) Petrochemical & Refined Products Services. Our business segments are generally organized and managed according to the types of services rendered (or technologies employed) and products produced and/or sold. Financial information regarding these segments is evaluated regularly by our co-chief operating decision makers in deciding how to allocate resources and in assessing our operating and financial performance. The co-principal executive officers of our general partner have been identified as our co-chief operating decision makers. While these two officers evaluate results in a number of different ways, the business segment structure is the primary basis for which the allocation of resources and financial results are assessed. The following information summarizes the assets and operations of each business segment: • Our NGL Pipelines & Services . • Our Crude Oil Pipelines & Services business segment includes our crude oil pipelines, crude oil storage and marine terminals, and related crude oil marketing activities. • Our Natural Gas Pipelines & Services business segment includes our natural gas pipeline systems that provide for the gathering, treating and transportation of natural gas. This segment also includes our natural gas marketing activities. • Our Petrochemical & Refined Products Services business segment includes our (i) propylene production facilities, which include propylene fractionation units and PDH facilities, and related pipelines and marketing activities, (ii) butane isomerization complex and related deisobutanizer operations, (iii) octane enhancement, iBDH and HPIB production facilities, (iv) refined products pipelines, terminals and related marketing activities, (v) ethylene export terminal and related operations; and (vi) marine transportation business Segment Gross Operating Margin We evaluate segment performance based on our financial measure of gross operating margin. Gross operating margin is an important performance measure of the core profitability of our operations and forms the basis of our internal financial reporting. We believe that investors benefit from having access to the same financial measures that our management uses in evaluating segment results. Gross operating margin is exclusive of other income and expense transactions, income taxes, the cumulative effect of changes in accounting principles and extraordinary charges. Gross operating margin is presented on a 100% basis before any allocation of earnings to noncontrolling interests. Our calculation of gross operating margin may or may not be comparable to similarly titled measures used by other companies. 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 September 30, For the Nine Months Ended September 30, 2023 2022 2023 2022 Operating income $ 1,695 $ 1,712 $ 5,008 $ 5,142 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) 566 524 1,644 1,569 Asset impairment charges in operating costs and expenses 11 29 27 48 Net losses (gains) attributable to asset sales and related matters in operating costs and expenses – 1 (4 ) 3 General and administrative costs 59 55 172 179 Non-refundable payments received from shippers attributable to make-up rights (2) 12 39 36 112 Subsequent recognition of revenues attributable to make-up rights (3) (23 ) (18 ) (68 ) (63 ) Total segment gross operating margin $ 2,320 $ 2,342 $ 6,815 $ 6,990 (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. 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 September 30, For the Nine Months Ended September 30, 2023 2022 2023 2022 Gross operating margin by segment: NGL Pipelines & Services $ 1,196 $ 1,296 $ 3,518 $ 3,848 Crude Oil Pipelines & Services 432 415 1,251 1,237 Natural Gas Pipelines & Services 239 278 791 727 Petrochemical & Refined Products Services 453 353 1,255 1,178 Total segment gross operating margin $ 2,320 $ 2,342 $ 6,815 $ 6,990 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 September 30, 2023 $ 3,754 $ 5,354 $ 880 $ 1,992 $ – $ 11,980 Three months ended September 30, 2022 6,232 4,720 1,875 2,621 – 15,448 Nine months ended September 30, 2023 12,367 13,825 2,863 5,994 – 35,049 Nine months ended September 30, 2022 18,358 14,163 4,672 7,288 – 44,481 Revenues from related parties: Three months ended September 30, 2023 3 11 4 – – 18 Three months ended September 30, 2022 5 4 11 – – 20 Nine months ended September 30, 2023 8 25 11 – – 44 Nine months ended September 30, 2022 13 18 24 – – 55 Intersegment and intrasegment revenues: Three months ended September 30, 2023 12,367 16,343 133 4,307 (33,150 ) – Three months ended September 30, 2022 14,666 13,456 262 5,934 (34,318 ) – Nine months ended September 30, 2023 34,347 41,139 386 13,108 (88,980 ) – Nine months ended September 30, 2022 52,079 35,327 683 14,446 (102,535 ) – Total revenues: Three months ended September 30, 2023 16,124 21,708 1,017 6,299 (33,150 ) 11,998 Three months ended September 30, 2022 20,903 18,180 2,148 8,555 (34,318 ) 15,468 Nine months ended September 30, 2023 46,722 54,989 3,260 19,102 (88,980 ) 35,093 Nine months ended September 30, 2022 70,450 49,508 5,379 21,734 (102,535 ) 44,536 Equity in income of unconsolidated affiliates: Three months ended September 30, 2023 32 89 1 – – 122 Three months ended September 30, 2022 39 70 2 – – 111 Nine months ended September 30, 2023 101 241 4 1 – 347 Nine months ended September 30, 2022 109 221 4 1 – 335 Segment revenues include intersegment and intrasegment transactions, which are generally based on transactions made at market-based rates. Our consolidated revenues reflect the elimination of intercompany transactions. Substantially all of our consolidated revenues are earned in the U.S. and derived from a wide customer base. 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 September 30, 2023 $ 17,468 $ 6,671 $ 9,821 $ 9,374 $ 2,006 $ 45,340 At December 31, 2022 17,283 6,760 9,721 7,770 2,867 44,401 Investments in unconsolidated affiliates: (see Note 5) At September 30, 2023 618 1,684 32 3 – 2,337 At December 31, 2022 640 1,677 32 3 – 2,352 Intangible assets, net: At September 30, 2023 839 1,700 1,170 112 – 3,821 At December 31, 2022 865 1,776 1,206 118 – 3,965 Goodwill: At September 30, 2023 2,811 1,841 – 956 – 5,608 At December 31, 2022 2,811 1,841 – 956 – 5,608 Segment assets: At September 30, 2023 21,736 11,896 11,023 10,445 2,006 57,106 At December 31, 2022 21,599 12,054 10,959 8,847 2,867 56,326 Supplemental Revenue and Expense Information The following table presents additional information regarding our consolidated revenues and costs and expenses for the periods indicated: For the Three Months Ended September 30, For the Nine Months Ended September 30, 2023 2022 2023 2022 Consolidated revenues: NGL Pipelines & Services $ 3,757 $ 6,237 $ 12,375 $ 18,371 Crude Oil Pipelines & Services 5,365 4,724 13,850 14,181 Natural Gas Pipelines & Services 884 1,886 2,874 4,696 Petrochemical & Refined Products Services 1,992 2,621 5,994 7,288 Total consolidated revenues $ 11,998 $ 15,468 $ 35,093 $ 44,536 Consolidated costs and expenses Operating costs and expenses: Cost of sales $ 8,786 $ 12,319 $ 25,796 $ 35,325 Other operating costs and expenses (1) 986 926 2,749 2,567 Depreciation, amortization and accretion 583 537 1,692 1,607 Asset impairment charges 11 29 27 48 Ne t losses (gains) – 1 (4 ) 3 General and administrative costs 59 55 172 179 Total consolidated costs and expenses $ 10,425 $ 13,867 $ 30,432 $ 39,729 (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 (gains) attributable to asset sales and related matters. Fluctuations in our product sales revenues and cost of sales amounts are explained in large part by changes in energy commodity prices. In general, higher energy commodity prices result in an increase in our revenues attributable to product sales; however, these higher commodity prices would also be expected to increase the associated cost of sales as purchase costs are higher. The same type of relationship would be true in the case of lower energy commodity sales prices and purchase costs.

Earnings Per Unit

Earnings Per Unit	9 Months Ended
	Sep. 30, 2023
Earnings Per Unit [Abstract]
Earnings Per Unit	Note 11. Earnings Per Unit The following table presents our calculation of basic and diluted earnings per common unit for the periods indicated: For the Three Months Ended September 30, For the Nine Months Ended September 30, 2023 2022 2023 2022 BASIC EARNINGS PER COMMON UNIT Net income attributable to common unitholders $ 1,318 $ 1,360 $ 3,961 $ 4,067 Earnings allocated to phantom unit awards (1) (12 ) (11 ) (36 ) (34 ) Net income allocated to common unitholders $ 1,306 $ 1,349 $ 3,925 $ 4,033 Basic weighted-average number of common units outstanding 2,172 2,179 2,173 2,179 Basic earnings per common unit $ 0.60 $ 0.62 $ 1.81 $ 1.85 DILUTED EARNINGS PER COMMON UNIT Net income attributable to common unitholders $ 1,318 $ 1,360 $ 3,961 $ 4,067 Net income attributable to preferred units 1 1 3 3 Net income attributable to limited partners $ 1,319 $ 1,361 $ 3,964 $ 4,070 Diluted weighted-average number of units outstanding: Distribution-bearing common units 2,172 2,179 2,173 2,179 Phantom units (2) 20 18 20 19 Preferred units (2) 2 2 2 2 Total 2,194 2,199 2,195 2,200 Diluted earnings per common unit $ 0.60 $ 0.62 $ 1.81 $ 1.85 (1) Phantom units are considered participating securities for purposes of computing basic earnings per unit. See Note 12 for information regarding the phantom units. (2) We use the “if-converted method” to determine the potential dilutive effect of the vesting of phantom unit awards and the conversion of preferred units outstanding. See Note 12 for information regarding phantom unit awards. See Note 8 for information regarding preferred units.

Equity-Based Awards

Equity-Based Awards	9 Months Ended
	Sep. 30, 2023
Equity-based Awards [Abstract]
Equity-based Awards	Note 12. Equity-Based Awards An allocated portion of the fair value of EPCO’s equity-based awards is charged to us under the ASA. The following table summarizes compensation expense we recognized in connection with equity-based awards for the periods indicated: For the Three Months Ended September 30, For the Nine Months Ended September 30, 2023 2022 2023 2022 Equity-classified awards: Phantom unit awards $ 42 $ 39 $ 126 $ 117 Profits interest awards 1 1 3 3 Total $ 43 $ 40 $ 129 $ 120 The fair value of equity-classified awards is amortized to earnings over the requisite service or vesting period. Equity-classified awards are expected to result in the issuance of the Partnership’s common units upon vesting. Phantom Unit Awards Subject to customary forfeiture provisions, phantom unit awards allow recipients to acquire the Partnership’s common units once a defined vesting period expires (at no cost to the recipient apart from fulfilling required service and other conditions). The following table presents phantom unit award activity for the period indicated: Number of Units Weighted- Average Grant Date Fair Value per Unit Phantom unit awards at December 31, 2022 17,982,945 $ 23.94 Granted (2) 8,904,445 $ 25.80 Vested (6,761,823 ) $ 24.81 Forfeited (459,279 ) $ 24.52 Phantom unit awards at September 30, 2023 19,666,288 $ 24.47 (1) Determined by dividing the aggregate grant date fair value of awards (before an allowance for forfeitures) by the number of awards issued. (2) The aggregate grant date fair value of phantom unit awards issued during 2023 was $230 million based on a grant date market price of the Partnership’s common units ranging from $25.80 to $26.70 per unit. An estimated annual forfeiture rate of 2.0% was applied to these awards. Each phantom unit award includes a DER, which entitles the participant to nonforfeitable cash payments equal to the product of the number of phantom unit awards outstanding for the participant and the cash distribution per common unit paid by the Partnership to its common unitholders. Cash payments made in connection with DERs are charged to partners’ equity when the phantom unit award is expected to result in the issuance of common units; otherwise, such amounts are expensed. The following table presents supplemental information regarding phantom unit awards for the periods indicated: For the Three Months Ended September 30, For the Nine Months Ended September 30, 2023 2022 2023 2022 Cash payments made in connection with DERs $ 10 $ 9 $ 29 $ 26 Total intrinsic value of phantom unit awards that vested during period 5 6 181 155 For the EPCO group of companies, the unrecognized compensation cost associated with phantom unit awards was $225 million at September 30, 2023, of which our share of such cost is currently estimated to be $184 million. Due to the graded vesting provisions of these awards, we expect to recognize our share of the unrecognized compensation cost for these awards over a weighted-average period of 2.1 years. Profits Interest Awards EPCO has two limited partnerships (referred to as “Employee Partnerships”) that serve as long-term incentive arrangements for key employees of EPCO by providing them profits interest awards (or Class B limited partner interests) in one or more of the Employee Partnerships. At , our share of the total unrecognized compensation cost related to the Employee Partnerships was $ million On November 6, 2023, the partners of both Employee Partnerships amended their respective Employee Partnership’s limited partnership agreement to provide that the Class B limited partner interests therein will vest on the earliest of (i) December 3, 2027, (ii) the first date on or after November 6, 2023 for which the closing sale price of the Partnership’s common units on the NYSE is equal to or greater than $ per unit (subject to certain adjustments), (iii) a change of control, or (iv) dissolution of such Employee Partnership.

Hedging Activities and Fair Val

Hedging Activities and Fair Value Measurements	9 Months Ended
	Sep. 30, 2023
Hedging Activities and Fair Value Measurements [Abstract]
Hedging Activities and Fair Value Measurements	Note 13. Hedging Activities and Fair Value Measurements In the normal course of our business operations, we are exposed to certain risks, including changes in interest rates and commodity prices. In order to manage risks associated with assets, liabilities and certain anticipated future transactions, we use derivative instruments such as futures, forward contracts, swaps, options and other instruments with similar characteristics. Substantially all of our derivatives are used for non-trading activities. Interest Rate Hedging Activities We may utilize interest rate swaps, forward-starting swaps, options to enter into forward-starting swaps (“swaptions”), and similar derivative instruments to manage our exposure to changes in interest rates charged on borrowings under certain consolidated debt agreements. This strategy may be used in controlling our overall cost of capital associated with such borrowings. Treasury Locks A treasury lock is an agreement that fixes the price (or yield) of a specified U.S. treasury security for an established period of time. We use treasury lock agreements to hedge our exposure to interest rate changes and to reduce the volatility of financing costs on an expected future debt issuance. During the fourth quarter of 2022, we entered into a treasury lock transaction to fix the ten-year treasury rate at 3.45% on a notional amount of $750 million. In January 2023, we entered into an additional treasury lock transaction to fix the three-year treasury rate at 4.165% on a notional amount of $750 million. The purpose of these transactions was to hedge the underlying interest rate risk associated with debt issuances which occurred in January 2023 (see Note 7). Both of our treasury lock transactions were designated as cash flow hedges of the interest payments associated with these debt issuances. In January 2023, we terminated both treasury lock transactions simultaneously with our issuance of the three-year and ten-year notes and received total cash proceeds of $21 million. As cash flow hedges, gains on these derivative instruments are reflected as a component of accumulated other comprehensive income and will be amortized to earnings as a reduction to interest expense over the full term of each issuance. Commodity Hedging Activities The prices of natural gas, NGLs, crude oil, petrochemicals and refined products, and power are subject to fluctuations in response to changes in supply and demand, market conditions and a variety of additional factors that are beyond our control. In order to manage such price risks, we enter into commodity derivative instruments such as physical forward contracts, futures contracts, fixed-for-float swaps and basis swaps. At , our predominant commodity hedging strategies consisted of (i) hedging anticipated future purchases and sales of commodity products associated with transportation, storage and blending activities, (ii) hedging natural gas processing margins, (iii) hedging the fair value of commodity products held in inventory and (iv) . • The objective of our anticipated future commodity purchases and sales hedging program is to hedge the margins of certain transportation, storage, blending and operational activities by locking in purchase and sale prices through the use of derivative instruments and related contracts. • The objective of our natural gas processing hedging program is to hedge an amount of earnings associated with these activities. We achieve this objective by executing fixed-price sales for a portion of our expected equity production using derivative instruments and related contracts. For certain natural gas processing contracts, the hedging of expected equity NGL production also involves the purchase of natural gas for plant thermal reduction, which is hedged using derivative instruments and related contracts. • The objective of our inventory hedging program is to hedge the fair value of commodity products currently held in inventory by locking in the sales price of the inventory through the use of derivative instruments and related contracts. • The objective of our commercial energy hedging program is to hedge anticipated future purchases of power for certain operations in Southeast Texas by locking in purchase prices through the use of derivative instruments and related contracts. The following table summarizes our portfolio of commodity derivative instruments outstanding at September 30, 2023 (volume measures as noted): Volume (1) Accounting Derivative Purpose Current Long-Term Treatment Derivatives designated as hedging instruments: Natural gas processing: Forecasted natural gas purchases for plant thermal reduction (billion cubic feet (“Bcf”)) 0.3 n/a Cash flow hedge Forecasted sales of natural gas (Bcf) 4.6 n/a Cash flow hedge Forecasted sales of NGLs (MMBbls) 0.2 n/a Cash flow hedge Octane enhancement: Forecasted sales of octane enhancement products (MMBbls) 4.7 1.2 Cash flow hedge Natural gas marketing: Forecasted purchases of natural gas (Bcf) 2.0 n/a Cash flow hedge Forecasted sales of natural gas (Bcf) 1.7 n/a Cash flow hedge Natural gas storage inventory management activities (Bcf) 0.8 n/a Fair value hedge NGL marketing: Forecasted purchases of NGLs and related hydrocarbon products (MMBbls) 82.2 7.6 Cash flow hedge Forecasted sales of NGLs and related hydrocarbon products (MMBbls) 82.2 10.6 Cash flow hedge Refined products marketing: Forecasted purchases of refined products (MMBbls) 0.3 n/a Cash flow hedge Forecasted sales of refined products (MMBbls) 0.3 n/a Cash flow hedge Crude oil marketing: Forecasted purchases of crude oil (MMBbls) 10.9 n/a Cash flow hedge Forecasted sales of crude oil (MMBbls) 13.0 1.1 Cash flow hedge Petrochemical marketing: Forecasted purchases of petrochemical products (MMBbls) 4.4 n/a Cash flow hedge Forecasted sales of petrochemical products (MMBbls) 0.5 n/a Cash flow hedge Commercial energy: Forecasted purchases of power related to asset operations (terawatt hours (“TWh”)) 1.4 1.9 Cash flow hedge Derivatives not designated as hedging instruments: Natural gas risk management activities (Bcf) (3) 21.0 1.6 Mark-to-market NGL risk management activities (MMBbls) (3) 22.0 5.4 Mark-to-market Refined products risk management activities (MMBbls) (3) 3.1 n/a Mark-to-market Crude oil risk management activities (MMBbls) (3) 91.1 46.8 Mark-to-market (1) Volume for derivatives designated as hedging instruments reflects the total amount of volumes hedged whereas volume for derivatives not designated as hedging instruments reflects the absolute value of derivative notional volumes. (2) The maximum term for derivatives designated as cash flow hedges, derivatives designated as fair value hedges and derivatives not designated as hedging instruments is December 2025, February 2024 and December 2025, respectively. (3) Reflects the use of derivative instruments to manage risks associated with our transportation, processing and storage assets. The carrying amount of our inventories subject to fair value hedges was $2 million and $12 million at September 30, 2023 and December 31, 2022, respectively. Tabular Presentation of Fair Value Amounts, and Gains and Losses on Derivative Instruments and Related Hedged Items The following table provides a balance sheet overview of our derivative assets and liabilities at the dates indicated: Asset Derivatives Liability Derivatives September 30, 2023 December 31, 2022 September 30, 2023 December 31, 2022 Balance Sheet Location Fair Value Balance Sheet Location Fair Value Balance Sheet Location Fair Value Balance Sheet Location Fair Value Derivatives designated as hedging instruments Interest derivatives Current assets $ – Current assets $ 26 Current liabilities $ – Current liabilities $ – Commodity derivatives Current assets $ 136 Current assets $ 422 Current liabilities $ 148 Current liabilities $ 316 Commodity derivatives Other assets 42 Other assets 43 Other liabilities 52 Other liabilities 58 Total commodity derivatives 178 465 200 374 Total derivatives designated as hedging instruments $ 178 $ 491 $ 200 $ 374 Derivatives not designated as hedging instruments Commodity derivatives Current assets $ 273 Current assets $ 21 Current liabilities $ 279 Current liabilities $ 38 Commodity derivatives Other assets 82 Other assets – Other liabilities 80 Other liabilities – Total commodity derivatives 355 21 359 38 Total derivatives not designated as hedging instruments $ 355 $ 21 $ 359 $ 38 Certain of our commodity derivative instruments are subject to master netting arrangements or similar agreements. The following tables present our derivative instruments subject to such arrangements at the dates indicated: Offsetting of Financial Assets and Derivative Assets Gross Amounts of Recognized Assets Gross Amounts Offset in the Balance Sheet Amounts of Assets Presented in the Balance Sheet Gross Amounts Not Offset in the Balance Sheet Amounts That Would Have Been Presented On Net Basis Financial Instruments Cash Collateral Received Cash Collateral Paid (i) (ii) (iii) = (i) – (ii) (iv) (v) = (iii) + (iv) As of September 30, 2023: Commodity derivatives $ 533 $ – $ 533 $ (532 ) $ – $ – $ 1 As of December 31, 2022: Interest rate derivatives $ 26 $ – $ 26 $ – $ – $ – $ 26 Commodity derivatives 486 – 486 (411 ) – (74 ) 1 Offsetting of Financial Liabilities and Derivative Liabilities Gross Amounts of Recognized Liabilities Gross Amounts Offset in the Balance Sheet Amounts of Liabilities Presented in the Balance Sheet Gross Amounts Not Offset in the Balance Sheet Amounts That Would Have Been Presented On Net Basis Financial Instruments Cash Collateral Received Cash Collateral Paid (i) (ii) (iii) = (i) – (ii) (iv) (v) = (iii) + (iv) As of September 30, 2023: Commodity derivatives $ 559 $ – $ 559 $ (532 ) $ – $ (27 ) $ – As of December 31, 2022: Commodity derivatives $ 412 $ – $ 412 $ (411 ) $ – $ – $ 1 Derivative assets and liabilities recorded on our Unaudited Condensed Consolidated Balance Sheets are presented on a gross-basis and determined at the individual transaction level. The tabular presentation above provides a means for comparing the gross amount of derivative assets and liabilities, excluding associated accounts payable and receivable, to the net amount that would likely be receivable or payable under a default scenario based on the existence of rights of offset in the respective derivative agreements. Any cash collateral paid or received is reflected in these tables, but only to the extent that it represents variation margins. Any amounts associated with derivative prepayments or initial margins that are not influenced by the derivative asset or liability amounts or those that are determined solely on their volumetric notional amounts are excluded from these tables. The following tables present the effect of our derivative instruments designated as fair value hedges on our Unaudited Condensed Statements of Consolidated Operations for the periods indicated: Derivatives in Fair Value Hedging Relationships Location Gain (Loss) Recognized in Income on Derivative For the Three Months Ended September 30, For the Nine Months Ended September 30, 2023 2022 2023 2022 Commodity derivatives Revenue $ 1 $ 8 $ 5 $ (116 ) Total $ 1 $ 8 $ 5 $ (116 ) Derivatives in Fair Value Hedging Relationships Location Gain (Loss) Recognized in Income on Hedged Item For the Three Months Ended September 30, For the Nine Months Ended September 30, 2023 2022 2023 2022 Commodity derivatives Revenue $ (7 ) $ 41 $ (5 ) $ 66 Total $ (7 ) $ 41 $ (5 ) $ 66 The gain (loss) corresponding to the hedge ineffectiveness on the fair value hedges was negligible for all periods presented. The remaining gain (loss) for each period presented is primarily attributable to prompt-to-forward month price differentials that were excluded from the assessment of hedge effectiveness. The following tables present the effect of our derivative instruments designated as cash flow hedges on our Unaudited Condensed Statements of Consolidated Operations and Unaudited Condensed Statements of Consolidated Comprehensive Income for the periods indicated: Derivatives in Cash Flow Hedging Relationships Change in Value Recognized in Other Comprehensive Income (Loss) on Derivative For the Three Months Ended September 30, For the Nine Months Ended September 30, 2023 2022 2023 2022 Interest rate derivatives $ – $ – $ (5 ) $ – Commodity derivatives – Revenue (1) (129 ) 176 (160 ) 78 Commodity derivatives – Operating costs and expenses (1) 33 10 21 48 Total $ (96 ) $ 186 $ (144 ) $ 126 (1) The fair value of these derivative instruments will be reclassified to their respective locations on the Unaudited Condensed Statement of Consolidated Operations when the forecasted transactions affect earnings. Derivatives in Cash Flow Hedging Relationships Location Gain (Loss) Reclassified from Accumulated Other Comprehensive Income (Loss) to Income For the Three Months Ended September 30, For the Nine Months Ended September 30, 2023 2022 2023 2022 Interest rate derivatives Interest expense $ 2 $ (1 ) $ 3 $ (15 ) Commodity derivatives Revenue (58 ) (35 ) (7 ) 12 Commodity derivatives Operating costs and expenses 25 26 22 42 Total $ (31 ) $ (10 ) $ 18 $ 39 Over the next twelve months, we expect to reclassify $9 million of gains attributable to interest rate derivative instruments from accumulated other comprehensive income to earnings as a decrease in interest expense. Likewise, we expect to reclassify $18 million of net gains attributable to commodity derivative instruments from accumulated other comprehensive income to earnings, with $35 million as an increase in revenue and $17 million as an increase in operating costs and expenses. The following table presents the effect of our derivative instruments not designated as hedging instruments on our Unaudited Condensed Statements of Consolidated Operations for the periods indicated: Derivatives Not Designated as Hedging Instruments Location Gain (Loss) Recognized in Income on Derivative For the Three Months Ended September 30, For the Nine Months Ended September 30, 2023 2022 2023 2022 Commodity derivatives Revenue $ (27 ) $ 32 $ 190 $ 77 Commodity derivatives Operating costs and expenses – 7 – 14 Total $ (27 ) $ 39 $ 190 $ 91 The $190 million net gain recognized for the nine months ended September 30, 2023 (as noted in the preceding table) from derivatives not designated as hedging instruments consists of $240 million of net realized gains and $50 million of net unrealized mark-to-market losses attributable to commodity derivatives. Fair Value Measurements The following tables set forth, by level within the Level 1, 2 and 3 fair value hierarchy, the carrying values of our financial assets and liabilities at the dates indicated. These assets and liabilities are measured on a recurring basis and are classified based on the lowest level of input used to estimate their fair value. Our assessment of the relative significance of such inputs requires judgment. The values for commodity derivatives are presented before and after the application of CME Rule 814, which deems that financial instruments cleared by the CME are settled daily in connection with variation margin payments. As a result of this exchange rule, CME-related derivatives are considered to have no fair value at the balance sheet date for financial reporting purposes; however, the derivatives remain outstanding and subject to future commodity price fluctuations until they are settled in accordance with their contractual terms. Derivative transactions cleared on exchanges other than the CME (e.g., the Intercontinental Exchange or ICE) continue to be reported on a gross basis. At September 30, 2023 Fair Value Measurements Using Quoted Prices in Active Markets for Identical Assets and Liabilities (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Total Financial assets: Commodity derivatives: Value before application of CME Rule 814 $ 391 $ 403 $ – $ 794 Impact of CME Rule 814 (46 ) (215 ) – (261 ) Total commodity derivatives 345 188 – 533 Total $ 345 $ 188 $ – $ 533 Financial liabilities: Commodity derivatives: Value before application of CME Rule 814 $ 447 $ 455 $ – $ 902 Impact of CME Rule 814 (115 ) (228 ) – (343 ) Total commodity derivatives 332 227 – 559 Total $ 332 $ 227 $ – $ 559 At December 31, 2022 Fair Value Measurements Using Quoted Prices in Active Markets for Identical Assets and Liabilities (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Total Financial assets: Interest rate derivatives: $ – $ 26 $ – $ 26 Commodity derivatives: Value before application of CME Rule 814 166 1,170 – 1,336 Impact of CME Rule 814 (161 ) (689 ) – (850 ) Total commodity derivatives 5 481 – 486 Total $ 5 $ 507 $ – $ 512 Financial liabilities: Commodity derivatives: Value before application of CME Rule 814 $ 95 $ 1,118 $ – $ 1,213 Impact of CME Rule 814 (90 ) (711 ) – (801 ) Total commodity derivatives 5 407 – 412 Total $ 5 $ 407 $ – $ 412 In the aggregate, the fair value of our commodity hedging portfolios at was a net derivative liability of $ Financial assets and liabilities recorded on the balance sheet at September 30, 2023 using significant unobservable inputs (Level 3) are not material to the Unaudited Condensed Consolidated Financial Statements. Other Fair Value Information The carrying amounts of cash and cash equivalents (including restricted cash balances), accounts receivable, commercial paper notes and accounts payable approximate their fair values based on their short-term nature. The estimated total fair value of our fixed-rate debt obligations was $24.5 billion and $24.2 billion at September 30, 2023 and December 31, 2022, respectively. The aggregate carrying value of these debt obligations was $28.0 billion and $27.5 billion at September 30, 2023 and December 31, 2022, respectively. These values are primarily based on quoted market prices for such debt or debt of similar terms and maturities (Level 2) and our credit standing. Changes in market rates of interest affect the fair value of our fixed-rate debt. The carrying values of our variable-rate long-term debt obligations approximate their fair values since the associated interest rates are market-based. We do not have any long-term investments in debt or equity securities recorded at fair value.

Related Party Transactions

Related Party Transactions	9 Months Ended
	Sep. 30, 2023
Related Party Transactions [Abstract]
Related Party Transactions	Note 14. Related Party Transactions The following table summarizes our related party transactions for the periods indicated: For the Three Months Ended September 30, For the Nine Months Ended September 30, 2023 2022 2023 2022 Revenues – related parties: Unconsolidated affiliates $ 18 $ 20 $ 44 $ 55 Costs and expenses – related parties: EPCO and its privately held affiliates $ 347 $ 334 $ 992 $ 940 Unconsolidated affiliates 51 55 135 176 Total $ 398 $ 389 $ 1,127 $ 1,116 The following table summarizes our related party accounts receivable and accounts payable balances at the dates indicated: September 30, 2023 December 31, 2022 Accounts receivable - related parties: EPCO and its privately held affiliates $ – $ 1 Unconsolidated affiliates 5 10 Total $ 5 $ 11 Accounts payable - related parties: EPCO and its privately held affiliates $ 134 $ 221 Unconsolidated affiliates 14 11 Total $ 148 $ 232 We believe that the terms and provisions of our related party agreements are fair to us; however, such agreements and transactions may not be as favorable to us as we could have obtained from unaffiliated third parties. Relationship with EPCO and Affiliates We have an extensive and ongoing relationship with EPCO and its privately held affiliates (including Enterprise GP, our general partner), which are not a part of our consolidated group of companies. At September 30, 2023, EPCO and its privately held affiliates (including Dan Duncan LLC and certain Duncan family trusts) beneficially owned the following limited partner interests in us: Total Number of Limited Partner Interests Held Percentage of Common Units Outstanding 702,197,607 common units 32.3% Of the total number of Partnership common units held by EPCO and its privately held affiliates, 62,976,464 have been pledged as security under the separate credit facilities of EPCO and its privately held affiliates at September 30, 2023. These credit facilities contain customary and other events of default, including defaults by us and other affiliates of EPCO. An event of default, followed by a foreclosure on the pledged collateral, could ultimately result in a change in ownership of these units and affect the market price of the Partnership’s common units. The Partnership and Enterprise GP are both separate legal entities apart from each other and apart from EPCO and its other affiliates, with assets and liabilities that are also separate from those of EPCO and its other affiliates. EPCO and its privately held affiliates use cash on hand and cash distributions they receive from us and other investments to fund their other activities and to meet their respective debt obligations, if any. During the nine months ended September 30, 2023 and 2022, we paid EPCO and its privately held affiliates cash distributions totaling $1.0 billion and $955 million, respectively. We have no employees. All of our administrative and operating functions are provided either by employees of EPCO (pursuant to the ASA) or by other service providers. We and our general partner are parties to the ASA. The following table presents our related party costs and expenses attributable to the ASA with EPCO for the periods indicated: For the Three Months Ended September 30, For the Nine Months Ended September 30, 2023 2022 2023 2022 Operating costs and expenses $ 305 $ 295 $ 873 $ 821 General and administrative expenses 36 34 102 106 Total costs and expenses $ 341 $ 329 $ 975 $ 927 We lease office space from privately held affiliates of EPCO at rental rates that approximate market rates. For each of the and , we recognized $

Income Taxes

Income Taxes	9 Months Ended
	Sep. 30, 2023
Income Taxes [Abstract]
Income Taxes	Note 15. Income Taxes Income taxes are accounted for under the asset-and-liability method. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases and operating loss and tax credit carryforwards. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. We recognize the effect of income tax positions only if those positions are more likely than not of being sustained. Recognized income tax positions are measured at the largest amount that is greater than 50% likely of being realized. Changes in recognition or measurement are reflected in the period in which the change in judgment occurs. We did not rely on any uncertain tax positions in recording our income tax-related amounts during the three and and . Our federal, state and foreign income tax benefit (provision) is summarized below: For the Three Months Ended September 30, For the Nine Months Ended September 30, 2023 2022 2023 2022 Current portion of income tax provision: Federal $ (1 ) $ (1 ) $ (11 ) $ (1 ) State (8 ) (9 ) (29 ) (26 ) Foreign – – – (3 ) Total current portion (9 ) (10 ) (40 ) (30 ) Deferred portion of income tax provision: Federal (4 ) (6 ) – (19 ) State (9 ) (2 ) (5 ) (5 ) Total deferred portion (13 ) (8 ) (5 ) (24 ) Total provision for income taxes $ (22 ) $ (18 ) $ (45 ) $ (54 ) A reconciliation of the provision for income taxes with amounts determined by applying the statutory U.S. federal income tax rate to income before income taxes is as follows: For the Three Months Ended September 30, For the Nine Months Ended September 30, 2023 2022 2023 2022 Pre-Tax Net Book Income (“NBI”) $ 1,372 $ 1,410 $ 4,100 $ 4,217 Texas Margin Tax (1) (17 ) (10 ) (33 ) (29 ) State income tax provision, net of federal benefit – – (1 ) (1 ) Federal income tax provision computed by applying the federal statutory rate to NBI of corporate entities (5 ) (4 ) (11 ) (11 ) Other – (4 ) – (13 ) Provision for income taxes $ (22 ) $ (18 ) $ (45 ) $ (54 ) Effective income tax rate (1.6 )% (1.3 )% (1.1 )% (1.3 )% (1) Although the Texas Margin Tax is not considered a state income tax, it has the characteristics of an income tax since it is determined by applying a tax rate to a base that considers our Texas-sourced revenues and expenses. The following table presents the significant components of deferred tax assets and deferred tax liabilities at the dates indicated: September 30, December 31, 2023 2022 Deferred tax liabilities: Attributable to investment in OTA $ 432 $ 406 Attributable to property, plant and equipment 137 133 Attributable to investments in other entities 5 5 Other 59 60 Total deferred tax liabilities 633 604 Deferred tax assets: Net operating loss carryovers (1) 46 22 Temporary differences related to Texas Margin Tax 4 4 Total deferred tax assets 50 26 Valuation allowance 22 22 Total deferred tax assets, net of valuation allowance 28 4 Total net deferred tax liabilities $ 605 $ 600 (1) The loss amount presented as of September 30, 2023 has an indefinite carryover period. All losses are subject to limitations on their utilization.

Commitments and Contingent Liab

Commitments and Contingent Liabilities	9 Months Ended
	Sep. 30, 2023
Commitments and Contingencies [Abstract]
Commitments and Contingencies	Note 16. Commitments and Contingent Liabilities Litigation As part of our normal business activities, we may be named as defendants in legal proceedings, including those arising from regulatory and environmental matters. Although we are insured against various risks to the extent we believe it is prudent, there is no assurance that the nature and amount of such insurance will be adequate, in every case, to fully indemnify us against losses arising from future legal proceedings. We will vigorously defend the Partnership in litigation matters. There were no accruals for litigation contingencies at September 30, 2023 and December 31, 2022, respectively. Contractual Obligations Scheduled Maturities of Debt We have long-term and short-term payment obligations under debt agreements. In total, the principal amount of our consolidated debt obligations were $29.2 billion and $28.6 billion at September 30, 2023 and December 31, 2022, respectively. See Note 7 for additional information regarding our scheduled future maturities of debt principal. Lease Accounting Matters There has been no significant change in our operating lease obligations since those disclosed in the 2022 Form 10-K. The following table presents information regarding operating leases where we are the lessee at September 30, 2023: Asset Category ROU Asset Carrying Value Lease Liability Carrying Value Weighted- Average Remaining Term Weighted- Average Discount Rate Storage and pipeline facilities $ 206 $ 206 9 years 4.1% Transportation equipment 17 4 years 4.2% Office and warehouse space 188 13 years 3.0% Total $ 375 $ 411 (1) Right of use (“ROU”) asset amounts are a component of “ Other assets (2) At September 30, 2023, lease liabilities of $73 million and $338 million were included within “ Other current liabilities Other long-term liabilities (3) The discount rate for each category of assets represents the weighted average of either (i) the implicit rate applicable to the underlying leases (where determinable) or (ii) our incremental borrowing rate adjusted for collateralization (if the implicit rate is not determinable). In general, the discount rates are based on either information available at the lease commencement date or January 1, 2019 for leases existing at the adoption date for ASC 842, Leases The following table disaggregates our total operating lease expense for the periods indicated For the Three Months Ended September 30, For the Nine Months Ended September 30, 2023 2022 2023 2022 Long-term operating leases: Fixed lease expense: Non-cash lease expense (amortization of ROU assets) $ 18 $ 16 $ 51 $ 43 Related accretion expense on lease liability balances 4 3 11 9 Total fixed lease expense 22 19 62 52 Variable lease expense 3 3 9 4 Subtotal operating lease expense 25 22 71 56 Short-term operating leases 30 25 82 65 Total operating lease expense $ 55 $ 47 $ 153 $ 121 Cash payments attributable to operating lease liabilities were $21 million and $19 million for the three months ended September 30, 2023 and 2022, respectively. For the nine months ended September 30, 2023 and 2022, cash paid for operating lease liabilities was $62 million and $47 million, respectively. Operating lease income for each of the three months ended September 30, 2023 and 2022 was $ million. For the and , operating lease income was $ million and $ million, respectively. Purchase Obligations Our consolidated purchase obligations at September 30, 2023 did not differ materially from those reported in our 2022 Form 10-K.

Supplemental Cash Flow Informat

Supplemental Cash Flow Information	9 Months Ended
	Sep. 30, 2023
Supplemental Cash Flow Information [Abstract]
Supplemental Cash Flow Information	Note 17. Supplemental Cash Flow Information The following table provides information regarding the net effect of changes in our operating accounts and cash payments for interest and income taxes for the periods indicated: For the Nine Months Ended September 30, 2023 2022 Decrease (increase) in: Accounts receivable – trade $ 36 $ 365 Accounts receivable – related parties 4 (9 ) Inventories (766 ) (475 ) Prepaid and other current assets (665 ) 272 Other assets 31 54 Increase (decrease) in: Accounts payable – trade 67 (134 ) Accounts payable – related parties (84 ) (12 ) Accrued product payables 457 (216 ) Accrued interest (189 ) (233 ) Other current liabilities 467 (220 ) Other long-term liabilities (64 ) (74 ) Net effect of changes in operating accounts $ (706 ) $ (682 ) Cash payments for interest, net of $ and $ capitalized during the nine months ended September 30, 2023 2022 $ 1,123 $ 1,141 Cash payments for federal and state income taxes $ 22 $ – We incurred liabilities for construction in progress that had not been paid at September 30, 2023 and December 31, 2022 of $371 million and $238 million, respectively. Such amounts are not included under the caption “Capital expenditures” on the Unaudited Condensed Statements of Consolidated Cash Flows. Acquisition of Navitas Midstream In February 2022, we acquired all of the member interests in Navitas Midstream Partners, LLC (“Navitas Midstream”) for $3.2 billion in net cash consideration.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 2023
Summary of Significant Accounting Policies [Abstract]
Allowance for Credit Losses	Allowance for Credit Losses We estimate our allowance for credit losses at each reporting date using a current expected credit loss model, which requires the measurement of expected credit losses for financial assets (e.g., accounts receivable) based on historical experience with customers, current economic conditions, and reasonable and supportable forecasts. We may also increase the allowance for credit losses in response to the specific identification of customers involved in bankruptcy proceedings and similar financial difficulties. The following table presents our allowance for credit losses activity since December 31, 2022: Allowance for credit losses, December 31, 2022 $ 54 Charged to costs and expenses – Charged to other accounts – Deductions (5 ) Allowance for credit losses, September 30, 2023 $ 49
Cash, Cash Equivalents and Restricted Cash	Cash, Cash Equivalents and Restricted Cash The following table provides a reconciliation of cash and cash equivalents, and restricted cash reported within the Unaudited Condensed Consolidated Balance Sheets that sum to the total of the amounts shown in the Unaudited Condensed Statements of Consolidated Cash Flows. September 30, 2023 December 31, 2022 Cash and cash equivalents $ 171 $ 76 Restricted cash 143 130 Total cash, cash equivalents and restricted cash shown in the Unaudited Condensed Statements of Consolidated Cash Flows $ 314 $ 206 Restricted cash primarily represents amounts held in segregated bank accounts by our clearing brokers as margin in support of our commodity derivative instruments portfolio and related physical purchases and sales of natural gas, NGLs, crude oil, refined products and power. Additional cash may be restricted to maintain our commodity derivative instruments portfolio as prices fluctuate or margin requirements change. See Note 13 for information regarding our derivative instruments and hedging activities.

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Tables)	9 Months Ended
	Sep. 30, 2023
Summary of Significant Accounting Policies [Abstract]
Allowance for Credit Losses	The following table presents our allowance for credit losses activity since December 31, 2022: Allowance for credit losses, December 31, 2022 $ 54 Charged to costs and expenses – Charged to other accounts – Deductions (5 ) Allowance for credit losses, September 30, 2023 $ 49
Cash, Cash Equivalents and Restricted Cash	The following table provides a reconciliation of cash and cash equivalents, and restricted cash reported within the Unaudited Condensed Consolidated Balance Sheets that sum to the total of the amounts shown in the Unaudited Condensed Statements of Consolidated Cash Flows. September 30, 2023 December 31, 2022 Cash and cash equivalents $ 171 $ 76 Restricted cash 143 130 Total cash, cash equivalents and restricted cash shown in the Unaudited Condensed Statements of Consolidated Cash Flows $ 314 $ 206

Inventories (Tables)

Inventories (Tables)	9 Months Ended
	Sep. 30, 2023
Inventories [Abstract]
Inventory Amounts by Product Type	Our inventory amounts by product type were as follows at the dates indicated: September 30, 2023 December 31, 2022 NGLs $ 2,550 $ 1,689 Petrochemicals and refined products 400 430 Crude oil 388 411 Natural gas 7 24 Total $ 3,345 $ 2,554
Cost of Sales and Lower of Cost or Market Adjustments	Due to fluctuating commodity prices, we recognize lower of cost or net realizable value adjustments when the carrying value of our available-for-sale inventories exceeds their net realizable value. The following table presents our total cost of sales amounts and lower of cost or net realizable value adjustments for the periods indicated: For the Three Months Ended September 30, For the Nine Months Ended September 30, 2023 2022 2023 2022 Cost of sales (1) $ 8,786 $ 12,319 $ 25,796 $ 35,325 Lower of cost or net realizable value adjustments recognized in cost of sales 8 11 17 18 (1) Cost of sales is a component of “Operating costs and expenses” as presented on our Unaudited Condensed Statements of Consolidated Operations. Fluctuations in these amounts are primarily due to changes in energy commodity prices and sales volumes associated with our marketing activities.

Property, Plant and Equipment (

Property, Plant and Equipment (Tables)	9 Months Ended
	Sep. 30, 2023
Property, Plant and Equipment [Abstract]
Property, Plant and Equipment and Accumulated Depreciation	The historical costs of our property, plant and equipment and related balances were as follows at the dates indicated: Estimated Useful Life in Years September 30, 2023 December 31, 2022 Plants, pipelines and facilities (1)(5) 3-45 $ 57,337 $ 54,396 Underground and other storage facilities (2)(6) 5-40 4,374 4,329 Transportation equipment (3) 3-10 235 222 Marine vessels (4) 15-30 934 921 Land 398 387 Construction in progress 2,006 2,867 Subtotal 65,284 63,122 Less accumulated depreciation 19,995 18,800 Subtotal property, plant and equipment, net 45,289 44,322 Capitalized major maintenance costs for reaction-based plants, net of accumulated amortization (7) 51 79 Property, plant and equipment, net $ 45,340 $ 44,401 (1) Plants, pipelines and facilities include distillation-based and reaction-based plants; NGL, natural gas, crude oil and petrochemical and refined products pipelines; terminal loading and unloading facilities; buildings; office furniture and equipment; laboratory and shop equipment and related assets. (2) Underground and other storage facilities include underground product storage caverns; above ground storage tanks; water wells and related assets. (3) Transportation equipment includes tractor-trailer tank trucks and other vehicles and similar assets used in our operations. (4) Marine vessels include tow boats, barges and related equipment used in our marine transportation business. (5) In general, the estimated useful lives of major assets within this category are: distillation-based and reaction-based plants, 20-35 years; pipelines and related equipment, 5-45 years; terminal facilities, 10-35 years; buildings, 20-40 years; office furniture and equipment, 3-20 years; and laboratory and shop equipment, 5-35 years. (6) In general, the estimated useful lives of assets within this category are: underground storage facilities, 5-35 years; storage tanks, 10-40 years; and water wells, 5-35 years. (7) For reaction-based plants, we use the deferral method when accounting for major maintenance activities. Under the deferral method, major maintenance costs are capitalized and amortized over the period until the next major overhaul project. On a weighted-average basis, the expected remaining amortization period for these costs is 0.9 years. The following table summarizes our depreciation expense and capitalized interest amounts for the periods indicated: For the Three Months Ended September 30, For the Nine Months Ended September 30, 2023 2022 2023 2022 Depreciation expense (1) $ 476 $ 446 $ 1,379 $ 1,329 Capitalized interest (2) 17 22 86 60 (1) Depreciation expense is a component of “Costs and expenses” as presented on our Unaudited Condensed Statements of Consolidated Operations. (2) We capitalize interest costs incurred on funds used to construct property, plant and equipment while the asset is in its construction phase. The capitalized interest is recorded as part of the asset to which it relates and is amortized over the asset’s estimated useful life as a component of depreciation expense. When capitalized interest is recorded, it reduces interest expense from what it would be otherwise.
AROs	The following table presents information regarding our asset retirement obligations, or AROs, since December 31, 2022: ARO liability balance, December 31, 2022 $ 234 Liabilities incurred (1) 2 Revisions in estimated cash flows (2) (11 ) Liabilities settled (3) (11 ) Accretion expense (4) 9 ARO liability balance, September 30, 2023 $ 223 (1) Represents the initial recognition of estimated ARO liabilities during period. (2) Represents subsequent adjustments to estimated ARO liabilities during period. (3) Represents cash payments to settle ARO liabilities during period. (4) Represents net change in ARO liability balance attributable to the passage of time and other adjustments, including true-up amounts associated with revised closure estimates.

Investments in Unconsolidated_2

Investments in Unconsolidated Affiliates (Tables)	9 Months Ended
	Sep. 30, 2023
Investments in Unconsolidated Affiliates [Abstract]
Investments in Unconsolidated Affiliates	The following table presents our investments in unconsolidated affiliates by business segment at the dates indicated. We account for these investments using the equity method. September 30, 2023 December 31, 2022 NGL Pipelines & Services $ 618 $ 640 Crude Oil Pipelines & Services 1,684 1,677 Natural Gas Pipelines & Services 32 32 Petrochemical & Refined Products Services 3 3 Total $ 2,337 $ 2,352 The following table presents our equity in income of unconsolidated affiliates by business segment for the periods indicated: For the Three Months Ended September 30, For the Nine Months Ended September 30, 2023 2022 2023 2022 NGL Pipelines & Services $ 32 $ 39 $ 101 $ 109 Crude Oil Pipelines & Services 89 70 241 221 Natural Gas Pipelines & Services 1 2 4 4 Petrochemical & Refined Products Services – – 1 1 Total $ 122 $ 111 $ 347 $ 335

Intangible Assets and Goodwill

Intangible Assets and Goodwill (Tables)	9 Months Ended
	Sep. 30, 2023
Intangible Assets and Goodwill [Abstract]
Intangible Assets by Segment	The following table summarizes our intangible assets by business segment at the dates indicated: September 30, 2023 December 31, 2022 Gross Value Accumulated Amortization Carrying Value Gross Value Accumulated Amortization Carrying Value NGL Pipelines & Services: Customer relationship intangibles $ 449 $ (260 ) $ 189 $ 449 $ (249 ) $ 200 Contract-based intangibles 752 (102 ) 650 749 (84 ) 665 Segment total 1,201 (362 ) 839 1,198 (333 ) 865 Crude Oil Pipelines & Services: Customer relationship intangibles 2,195 (504 ) 1,691 2,195 (431 ) 1,764 Contract-based intangibles 283 (274 ) 9 283 (271 ) 12 Segment total 2,478 (778 ) 1,700 2,478 (702 ) 1,776 Natural Gas Pipelines & Services: Customer relationship intangibles 1,350 (615 ) 735 1,350 (588 ) 762 Contract-based intangibles 640 (205 ) 435 639 (195 ) 444 Segment total 1,990 (820 ) 1,170 1,989 (783 ) 1,206 Petrochemical & Refined Products Services: Customer relationship intangibles 181 (85 ) 96 181 (80 ) 101 Contract-based intangibles 45 (29 ) 16 45 (28 ) 17 Segment total 226 (114 ) 112 226 (108 ) 118 Total intangible assets $ 5,895 $ (2,074 ) $ 3,821 $ 5,891 $ (1,926 ) $ 3,965
Amortization Expense of Intangible Assets by Segment	The following table presents the amortization expense of our intangible assets by business segment for the periods indicated: For the Three Months Ended September 30, For the Nine Months Ended September 30, 2023 2022 2023 2022 NGL Pipelines & Services $ 10 $ 10 $ 29 $ 27 Crude Oil Pipelines & Services 28 21 76 62 Natural Gas Pipelines & Services 12 13 37 38 Petrochemical & Refined Products Services 2 2 6 5 Total $ 52 $ 46 $ 148 $ 132
Forecasted Amortization Expense	The following table presents our forecast of amortization expense associated with existing intangible assets for the periods indicated: Remainder of 2023 2024 2025 2026 2027 $ 55 $ 222 $ 231 $ 237 $ 236

Debt Obligations (Tables)

Debt Obligations (Tables)	9 Months Ended
	Sep. 30, 2023
Debt Obligations [Abstract]
Consolidated Debt Obligations	The following table presents our consolidated debt obligations (arranged by company and maturity date) at the dates indicated: September 30, 2023 December 31, 2022 EPO senior debt obligations: Commercial Paper Notes, variable-rates $ 620 $ 495 Senior Notes HH, 3.35 – 1,250 Senior Notes JJ, 3.90 850 850 March 2023 $1.5 Billion 364-Day Revolving Credit Agreement, variable-rate, due March 2024 (1) – – Senior Notes MM, 3.75 1,150 1,150 Senior Notes FFF, 5.05 750 – Senior Notes PP, 3.70 875 875 Senior Notes SS, 3.95 575 575 March 2023 $2.7 Billion Multi-Year Revolving Credit Agreement, variable-rate, due March 2028 (2) – – Senior Notes WW, 4.15 1,000 1,000 Senior Notes YY, 3.125 1,250 1,250 Senior Notes AAA, 2.80 1,250 1,250 Senior Notes GGG, 5.35 1,000 – Senior Notes D, 6.875 500 500 Senior Notes H, 6.65 350 350 Senior Notes J, 5.75 250 250 Senior Notes W, 7.55 400 400 Senior Notes R, 6.125 600 600 Senior Notes Z, 6.45 600 600 Senior Notes BB, 5.95 750 750 Senior Notes DD, 5.70 600 600 Senior Notes EE, 4.85 750 750 Senior Notes GG, 4.45 1,100 1,100 Senior Notes II, 4.85 1,400 1,400 Senior Notes KK, 5.10 1,150 1,150 Senior Notes QQ, 4.90 975 975 Senior Notes UU, 4.25 1,250 1,250 Senior Notes XX, 4.80 1,250 1,250 Senior Notes ZZ, 4.20 1,250 1,250 Senior Notes BBB, 3.70 1,000 1,000 Senior Notes DDD, 3.20 1,000 1,000 Senior Notes EEE, 3.30 1,000 1,000 Senior Notes NN, 4.95 400 400 Senior Notes CCC, 3.95 1,000 1,000 Total principal amount of senior debt obligations 26,895 26,270 EPO Junior Subordinated Notes C, variable-rate, due June 2067 232 232 EPO Junior Subordinated Notes D, variable-rate, due August 2077 350 350 EPO Junior Subordinated Notes E, fixed/variable-rate, due August 2077 1,000 1,000 EPO Junior Subordinated Notes F, fixed/variable-rate, due February 2078 700 700 TEPPCO Junior Subordinated Notes, variable-rate, due June 2067 14 14 Total principal amount of senior and junior debt obligations 29,191 28,566 Other, non-principal amounts (275 ) (271 ) Less current maturities of debt (1,470 ) (1,744 ) Total long-term debt $ 27,446 $ 26,551 (1) Under the terms of the agreement, EPO may borrow up to $1.5 billion (which may be increased by up to $200 million to $1.7 billion at EPO’s election provided certain conditions are met). (2) Under the terms of the agreement, EPO may borrow up to $2.7 billion (which may be increased by up to $500 million to $3.2 billion at EPO’s election provided certain conditions are met). (3) Variable rate is reset quarterly and based on 3-month Chicago Mercantile Exchange (“CME”) Term Secured Overnight Financing Rate (“SOFR”) plus (a) a 0.26161% tenor spread adjustment and (b) 2.778%. (4) Variable rate is reset quarterly and based on 3-month CME Term SOFR plus (a) a 0.26161% tenor spread adjustment and (b) 2.986%. (5) Fixed rate of 5.250% through August 15, 2027; thereafter, a variable rate reset quarterly and based on 3-month CME Term SOFR plus (a) a 0.26161% tenor spread adjustment and (b) 3.033%. (6) Fixed rate of 5.375% through February 14, 2028; thereafter, a variable rate reset quarterly and based on 3-month CME Term SOFR plus (a) a 0.26161% tenor spread adjustment and (b) 2.57%. (7) Effective July 1, 2023, all series of our junior subordinated notes subject to a variable interest rate replaced the 3-month London Interbank Offered Rate (“LIBOR”) with 3-month CME Term SOFR plus a 0.26161% tenor spread adjustment. See discussion below in “Variable Interest Rates” regarding the LIBOR replacement and LIBOR replacement rate. The following table presents the range of interest rates and weighted-average interest rates paid on our consolidated variable-rate debt during the nine months ended September 30, 2023: Range of Interest Rates Paid Weighted-Average Interest Rate Paid Commercial Paper Notes 4.59% to 5.56% 5.34% EPO Junior Subordinated Notes C and TEPPCO Junior Subordinated Notes 7.54% to 8.45% 7.95% EPO Junior Subordinated Notes D 7.63% to 8.62% 8.10%
Consolidated Debt Maturities	The following table presents the scheduled maturities of principal amounts of EPO’s consolidated debt obligations at September 30, 2023 for the next five years, and in total thereafter: Scheduled Maturities of Debt Total Remainder of 2023 2024 2025 2026 2027 Thereafter Commercial Paper Notes $ 620 $ 620 $ – $ – $ – $ – $ – Senior Notes 26,275 – 850 1,150 1,625 575 22,075 Junior Subordinated Notes 2,296 – – – – – 2,296 Total $ 29,191 $ 620 $ 850 $ 1,150 $ 1,625 $ 575 $ 24,371

Capital Accounts (Tables)

Capital Accounts (Tables)	9 Months Ended
	Sep. 30, 2023
Capital Accounts [Abstract]
Summary of Changes in Outstanding Units	The following table summarizes changes in the number of our common units outstanding since December 31, 2022: Common units outstanding at December 31, 2022 2,170,806,347 Common unit repurchases under 2019 Buyback Program (682,589 ) Common units issued in connection with the vesting of phantom unit awards, net 4,364,301 Other 20,892 Common units outstanding at March 31, 2023 2,174,508,951 Common unit repurchases under 2019 Buyback Program (2,910,121 ) Common units issued in connection with the vesting of phantom unit awards, net 153,502 Common units outstanding at June 30, 2023 2,171,752,332 Common units issued in connection with the vesting of phantom unit awards, net 126,671 Common units outstanding at September 30, 2023 2,171,879,003
Components of Accumulated Other Comprehensive Income (Loss)	The following tables present the components of accumulated other comprehensive income (loss) as reported on our Unaudited Condensed Consolidated Balance Sheets at the dates indicated: Cash Flow Hedges Commodity Derivative Instruments Interest Rate Derivative Instruments Other Total Accumulated Other Comprehensive Income (Loss), December 31, 2022 $ 171 $ 192 $ 2 $ 365 Other comprehensive income (loss) for period, before reclassifications (139 ) (5 ) – (144 ) Reclassification of losses (gains) to net income during period (15 ) (3 ) – (18 ) Total other comprehensive income (loss) for period (154 ) (8 ) – (162 ) Accumulated Other Comprehensive Income (Loss), September 30, 2023 $ 17 $ 184 $ 2 $ 203 Cash Flow Hedges Commodity Derivative Instruments Interest Rate Derivative Instruments Other Total Accumulated Other Comprehensive Income (Loss), December 31, 2021 $ 137 $ 147 $ 2 $ 286 Other comprehensive income (loss) for period, before reclassifications 126 – – 126 Reclassification of losses (gains) to net income during period (54 ) 15 – (39 ) Total other comprehensive income (loss) for period 72 15 – 87 Accumulated Other Comprehensive Income (Loss), September 30, 2022 $ 209 $ 162 $ 2 $ 373
Reclassification out of Accumulated Other Comprehensive Income (Loss)	The following table presents reclassifications of (income) loss out of accumulated other comprehensive income into net income during the periods indicated: For the Three Months Ended September 30, For the Nine Months Ended September 30, Losses (gains) on cash flow hedges: Location 2023 2022 2023 2022 Interest rate derivatives Interest expense $ (2 ) $ 1 $ (3 ) $ 15 Commodity derivatives Revenue 58 35 7 (12 ) Commodity derivatives Operating costs and expenses (25 ) (26 ) (22 ) (42 ) Total $ 31 $ 10 $ (18 ) $ (39 )

Revenues (Tables)

Revenues (Tables)	9 Months Ended
	Sep. 30, 2023
Revenues [Abstract]
Revenues by Business Segment and Revenue Type	We classify our revenues into sales of products and midstream services. Product sales relate primarily to our various marketing activities whereas midstream services represent our other integrated businesses (i.e., gathering, processing, transportation, fractionation, storage and terminaling). The following table presents our revenues by business segment, and further by revenue type, for the periods indicated: For the Three Months Ended September 30, For the Nine Months Ended September 30, 2023 2022 2023 2022 NGL Pipelines & Services: Sales of NGLs and related products $ 3,021 $ 5,519 $ 10,325 $ 16,139 Segment midstream services: Natural gas processing and fractionation 344 340 944 1,143 Transportation 286 250 798 708 Storage and terminals 106 128 308 381 Total segment midstream services 736 718 2,050 2,232 Total NGL Pipelines & Services 3,757 6,237 12,375 18,371 Crude Oil Pipelines & Services: Sales of crude oil 5,068 4,455 12,999 13,202 Segment midstream services: Transportation 194 162 549 650 Storage and terminals 103 107 302 329 Total segment midstream services 297 269 851 979 Total Crude Oil Pipelines & Services 5,365 4,724 13,850 14,181 Natural Gas Pipelines & Services: Sales of natural gas 537 1,556 1,828 3,795 Segment midstream services: Transportation 347 330 1,046 901 Total segment midstream services 347 330 1,046 901 Total Natural Gas Pipelines & Services 884 1,886 2,874 4,696 Petrochemical & Refined Products Services: Sales of petrochemicals and refined products 1,647 2,346 5,052 6,470 Segment midstream services: Fractionation and isomerization 94 56 208 172 Transportation, including marine logistics 171 149 486 426 Storage and terminals 80 70 248 220 Total segment midstream services 345 275 942 818 Total Petrochemical & Refined Products Services 1,992 2,621 5,994 7,288 Total consolidated revenues $ 11,998 $ 15,468 $ 35,093 $ 44,536
Unbilled Revenue and Deferred Revenue	The following table provides information regarding our contract assets and contract liabilities at September 30, 2023: Contract Asset Location Balance Unbilled revenue (current amount) Prepaid and other current assets $ 12 Total $ 12 Contract Liability Location Balance Deferred revenue (current amount) Other current liabilities $ 159 Deferred revenue (noncurrent) Other long-term liabilities 315 Total $ 474 The following table presents significant changes in our unbilled revenue and deferred revenue balances for the nine months ended September 30, 2023: Unbilled Revenue Deferred Revenue Balance at December 31, 2022 $ 6 $ 501 Amount included in opening balance transferred to other accounts during period (1) (6 ) (234 ) Amount recorded during period (2) 59 676 Amounts recorded during period transferred to other accounts (1) (47 ) (457 ) Other changes – (12 ) Balance at September 30, 2023 $ 12 $ 474 (1) Unbilled revenues are transferred to accounts receivable once we have an unconditional right to consideration from the customer. Deferred revenues are recognized as revenue upon satisfaction of our performance obligation to the customer. (2) Unbilled revenue represents revenue that has been recognized upon satisfaction of a performance obligation, but cannot be contractually invoiced (or billed) to the customer at the balance sheet date until a future period. Deferred revenue is recorded when payment is received from a customer prior to our satisfaction of the associated performance obligation.
Remaining Performance Obligations	The following table presents estimated fixed future consideration from revenue contracts that contain minimum volume commitments, deficiency and similar fees and the term of the contracts exceeds one year. These amounts represent the revenues we expect to recognize in future periods from these contracts as of September 30, 2023. Period Fixed Consideration Three Months Ended December 31, 2023 $ 1,036 One Year Ended December 31, 2024 3,815 One Year Ended December 31, 2025 3,388 One Year Ended December 31, 2026 3,130 One Year Ended December 31, 2027 2,884 Thereafter – 11,465 Total $ 25,718

Business Segments and Related_2

Business Segments and Related Information (Tables)	9 Months Ended
	Sep. 30, 2023
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 September 30, For the Nine Months Ended September 30, 2023 2022 2023 2022 Operating income $ 1,695 $ 1,712 $ 5,008 $ 5,142 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) 566 524 1,644 1,569 Asset impairment charges in operating costs and expenses 11 29 27 48 Net losses (gains) attributable to asset sales and related matters in operating costs and expenses – 1 (4 ) 3 General and administrative costs 59 55 172 179 Non-refundable payments received from shippers attributable to make-up rights (2) 12 39 36 112 Subsequent recognition of revenues attributable to make-up rights (3) (23 ) (18 ) (68 ) (63 ) Total segment gross operating margin $ 2,320 $ 2,342 $ 6,815 $ 6,990 (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	The following table presents gross operating margin by segment for the periods indicated: For the Three Months Ended September 30, For the Nine Months Ended September 30, 2023 2022 2023 2022 Gross operating margin by segment: NGL Pipelines & Services $ 1,196 $ 1,296 $ 3,518 $ 3,848 Crude Oil Pipelines & Services 432 415 1,251 1,237 Natural Gas Pipelines & Services 239 278 791 727 Petrochemical & Refined Products Services 453 353 1,255 1,178 Total segment gross operating margin $ 2,320 $ 2,342 $ 6,815 $ 6,990 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 September 30, 2023 $ 3,754 $ 5,354 $ 880 $ 1,992 $ – $ 11,980 Three months ended September 30, 2022 6,232 4,720 1,875 2,621 – 15,448 Nine months ended September 30, 2023 12,367 13,825 2,863 5,994 – 35,049 Nine months ended September 30, 2022 18,358 14,163 4,672 7,288 – 44,481 Revenues from related parties: Three months ended September 30, 2023 3 11 4 – – 18 Three months ended September 30, 2022 5 4 11 – – 20 Nine months ended September 30, 2023 8 25 11 – – 44 Nine months ended September 30, 2022 13 18 24 – – 55 Intersegment and intrasegment revenues: Three months ended September 30, 2023 12,367 16,343 133 4,307 (33,150 ) – Three months ended September 30, 2022 14,666 13,456 262 5,934 (34,318 ) – Nine months ended September 30, 2023 34,347 41,139 386 13,108 (88,980 ) – Nine months ended September 30, 2022 52,079 35,327 683 14,446 (102,535 ) – Total revenues: Three months ended September 30, 2023 16,124 21,708 1,017 6,299 (33,150 ) 11,998 Three months ended September 30, 2022 20,903 18,180 2,148 8,555 (34,318 ) 15,468 Nine months ended September 30, 2023 46,722 54,989 3,260 19,102 (88,980 ) 35,093 Nine months ended September 30, 2022 70,450 49,508 5,379 21,734 (102,535 ) 44,536 Equity in income of unconsolidated affiliates: Three months ended September 30, 2023 32 89 1 – – 122 Three months ended September 30, 2022 39 70 2 – – 111 Nine months ended September 30, 2023 101 241 4 1 – 347 Nine months ended September 30, 2022 109 221 4 1 – 335 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 September 30, 2023 $ 17,468 $ 6,671 $ 9,821 $ 9,374 $ 2,006 $ 45,340 At December 31, 2022 17,283 6,760 9,721 7,770 2,867 44,401 Investments in unconsolidated affiliates: (see Note 5) At September 30, 2023 618 1,684 32 3 – 2,337 At December 31, 2022 640 1,677 32 3 – 2,352 Intangible assets, net: At September 30, 2023 839 1,700 1,170 112 – 3,821 At December 31, 2022 865 1,776 1,206 118 – 3,965 Goodwill: At September 30, 2023 2,811 1,841 – 956 – 5,608 At December 31, 2022 2,811 1,841 – 956 – 5,608 Segment assets: At September 30, 2023 21,736 11,896 11,023 10,445 2,006 57,106 At December 31, 2022 21,599 12,054 10,959 8,847 2,867 56,326
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 September 30, For the Nine Months Ended September 30, 2023 2022 2023 2022 Consolidated revenues: NGL Pipelines & Services $ 3,757 $ 6,237 $ 12,375 $ 18,371 Crude Oil Pipelines & Services 5,365 4,724 13,850 14,181 Natural Gas Pipelines & Services 884 1,886 2,874 4,696 Petrochemical & Refined Products Services 1,992 2,621 5,994 7,288 Total consolidated revenues $ 11,998 $ 15,468 $ 35,093 $ 44,536 Consolidated costs and expenses Operating costs and expenses: Cost of sales $ 8,786 $ 12,319 $ 25,796 $ 35,325 Other operating costs and expenses (1) 986 926 2,749 2,567 Depreciation, amortization and accretion 583 537 1,692 1,607 Asset impairment charges 11 29 27 48 Ne t losses (gains) – 1 (4 ) 3 General and administrative costs 59 55 172 179 Total consolidated costs and expenses $ 10,425 $ 13,867 $ 30,432 $ 39,729 (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 (gains) attributable to asset sales and related matters.

Earnings Per Unit (Tables)

Earnings Per Unit (Tables)	9 Months Ended
	Sep. 30, 2023
Earnings Per Unit [Abstract]
Basic and Diluted Earnings Per Unit	The following table presents our calculation of basic and diluted earnings per common unit for the periods indicated: For the Three Months Ended September 30, For the Nine Months Ended September 30, 2023 2022 2023 2022 BASIC EARNINGS PER COMMON UNIT Net income attributable to common unitholders $ 1,318 $ 1,360 $ 3,961 $ 4,067 Earnings allocated to phantom unit awards (1) (12 ) (11 ) (36 ) (34 ) Net income allocated to common unitholders $ 1,306 $ 1,349 $ 3,925 $ 4,033 Basic weighted-average number of common units outstanding 2,172 2,179 2,173 2,179 Basic earnings per common unit $ 0.60 $ 0.62 $ 1.81 $ 1.85 DILUTED EARNINGS PER COMMON UNIT Net income attributable to common unitholders $ 1,318 $ 1,360 $ 3,961 $ 4,067 Net income attributable to preferred units 1 1 3 3 Net income attributable to limited partners $ 1,319 $ 1,361 $ 3,964 $ 4,070 Diluted weighted-average number of units outstanding: Distribution-bearing common units 2,172 2,179 2,173 2,179 Phantom units (2) 20 18 20 19 Preferred units (2) 2 2 2 2 Total 2,194 2,199 2,195 2,200 Diluted earnings per common unit $ 0.60 $ 0.62 $ 1.81 $ 1.85 (1) Phantom units are considered participating securities for purposes of computing basic earnings per unit. See Note 12 for information regarding the phantom units. (2) We use the “if-converted method” to determine the potential dilutive effect of the vesting of phantom unit awards and the conversion of preferred units outstanding. See Note 12 for information regarding phantom unit awards. See Note 8 for information regarding preferred units.

Equity-Based Awards (Tables)

Equity-Based Awards (Tables)	9 Months Ended
	Sep. 30, 2023
Equity-based Awards [Abstract]
Equity-based Award Expense	An allocated portion of the fair value of EPCO’s equity-based awards is charged to us under the ASA. The following table summarizes compensation expense we recognized in connection with equity-based awards for the periods indicated: For the Three Months Ended September 30, For the Nine Months Ended September 30, 2023 2022 2023 2022 Equity-classified awards: Phantom unit awards $ 42 $ 39 $ 126 $ 117 Profits interest awards 1 1 3 3 Total $ 43 $ 40 $ 129 $ 120
Other Share-based Compensation Plans	Subject to customary forfeiture provisions, phantom unit awards allow recipients to acquire the Partnership’s common units once a defined vesting period expires (at no cost to the recipient apart from fulfilling required service and other conditions). The following table presents phantom unit award activity for the period indicated: Number of Units Weighted- Average Grant Date Fair Value per Unit Phantom unit awards at December 31, 2022 17,982,945 $ 23.94 Granted (2) 8,904,445 $ 25.80 Vested (6,761,823 ) $ 24.81 Forfeited (459,279 ) $ 24.52 Phantom unit awards at September 30, 2023 19,666,288 $ 24.47 (1) Determined by dividing the aggregate grant date fair value of awards (before an allowance for forfeitures) by the number of awards issued. (2) The aggregate grant date fair value of phantom unit awards issued during 2023 was $230 million based on a grant date market price of the Partnership’s common units ranging from $25.80 to $26.70 per unit. An estimated annual forfeiture rate of 2.0% was applied to these awards. The following table presents supplemental information regarding phantom unit awards for the periods indicated: For the Three Months Ended September 30, For the Nine Months Ended September 30, 2023 2022 2023 2022 Cash payments made in connection with DERs $ 10 $ 9 $ 29 $ 26 Total intrinsic value of phantom unit awards that vested during period 5 6 181 155

Hedging Activities and Fair V_2

Hedging Activities and Fair Value Measurements (Tables)	9 Months Ended
	Sep. 30, 2023
Hedging Activities and Fair Value Measurements [Abstract]
Hedging Instruments Under the FASB's Derivative and Hedging Guidance	The following table summarizes our portfolio of commodity derivative instruments outstanding at September 30, 2023 (volume measures as noted): Volume (1) Accounting Derivative Purpose Current Long-Term Treatment Derivatives designated as hedging instruments: Natural gas processing: Forecasted natural gas purchases for plant thermal reduction (billion cubic feet (“Bcf”)) 0.3 n/a Cash flow hedge Forecasted sales of natural gas (Bcf) 4.6 n/a Cash flow hedge Forecasted sales of NGLs (MMBbls) 0.2 n/a Cash flow hedge Octane enhancement: Forecasted sales of octane enhancement products (MMBbls) 4.7 1.2 Cash flow hedge Natural gas marketing: Forecasted purchases of natural gas (Bcf) 2.0 n/a Cash flow hedge Forecasted sales of natural gas (Bcf) 1.7 n/a Cash flow hedge Natural gas storage inventory management activities (Bcf) 0.8 n/a Fair value hedge NGL marketing: Forecasted purchases of NGLs and related hydrocarbon products (MMBbls) 82.2 7.6 Cash flow hedge Forecasted sales of NGLs and related hydrocarbon products (MMBbls) 82.2 10.6 Cash flow hedge Refined products marketing: Forecasted purchases of refined products (MMBbls) 0.3 n/a Cash flow hedge Forecasted sales of refined products (MMBbls) 0.3 n/a Cash flow hedge Crude oil marketing: Forecasted purchases of crude oil (MMBbls) 10.9 n/a Cash flow hedge Forecasted sales of crude oil (MMBbls) 13.0 1.1 Cash flow hedge Petrochemical marketing: Forecasted purchases of petrochemical products (MMBbls) 4.4 n/a Cash flow hedge Forecasted sales of petrochemical products (MMBbls) 0.5 n/a Cash flow hedge Commercial energy: Forecasted purchases of power related to asset operations (terawatt hours (“TWh”)) 1.4 1.9 Cash flow hedge Derivatives not designated as hedging instruments: Natural gas risk management activities (Bcf) (3) 21.0 1.6 Mark-to-market NGL risk management activities (MMBbls) (3) 22.0 5.4 Mark-to-market Refined products risk management activities (MMBbls) (3) 3.1 n/a Mark-to-market Crude oil risk management activities (MMBbls) (3) 91.1 46.8 Mark-to-market (1) Volume for derivatives designated as hedging instruments reflects the total amount of volumes hedged whereas volume for derivatives not designated as hedging instruments reflects the absolute value of derivative notional volumes. (2) The maximum term for derivatives designated as cash flow hedges, derivatives designated as fair value hedges and derivatives not designated as hedging instruments is December 2025, February 2024 and December 2025, respectively. (3) Reflects the use of derivative instruments to manage risks associated with our transportation, processing and storage assets.
Derivative Assets and Liabilities Balance Sheet	The following table provides a balance sheet overview of our derivative assets and liabilities at the dates indicated: Asset Derivatives Liability Derivatives September 30, 2023 December 31, 2022 September 30, 2023 December 31, 2022 Balance Sheet Location Fair Value Balance Sheet Location Fair Value Balance Sheet Location Fair Value Balance Sheet Location Fair Value Derivatives designated as hedging instruments Interest derivatives Current assets $ – Current assets $ 26 Current liabilities $ – Current liabilities $ – Commodity derivatives Current assets $ 136 Current assets $ 422 Current liabilities $ 148 Current liabilities $ 316 Commodity derivatives Other assets 42 Other assets 43 Other liabilities 52 Other liabilities 58 Total commodity derivatives 178 465 200 374 Total derivatives designated as hedging instruments $ 178 $ 491 $ 200 $ 374 Derivatives not designated as hedging instruments Commodity derivatives Current assets $ 273 Current assets $ 21 Current liabilities $ 279 Current liabilities $ 38 Commodity derivatives Other assets 82 Other assets – Other liabilities 80 Other liabilities – Total commodity derivatives 355 21 359 38 Total derivatives not designated as hedging instruments $ 355 $ 21 $ 359 $ 38
Offsetting Financial Assets	Offsetting of Financial Assets and Derivative Assets Gross Amounts of Recognized Assets Gross Amounts Offset in the Balance Sheet Amounts of Assets Presented in the Balance Sheet Gross Amounts Not Offset in the Balance Sheet Amounts That Would Have Been Presented On Net Basis Financial Instruments Cash Collateral Received Cash Collateral Paid (i) (ii) (iii) = (i) – (ii) (iv) (v) = (iii) + (iv) As of September 30, 2023: Commodity derivatives $ 533 $ – $ 533 $ (532 ) $ – $ – $ 1 As of December 31, 2022: Interest rate derivatives $ 26 $ – $ 26 $ – $ – $ – $ 26 Commodity derivatives 486 – 486 (411 ) – (74 ) 1
Offsetting Financial Liabilities	Offsetting of Financial Liabilities and Derivative Liabilities Gross Amounts of Recognized Liabilities Gross Amounts Offset in the Balance Sheet Amounts of Liabilities Presented in the Balance Sheet Gross Amounts Not Offset in the Balance Sheet Amounts That Would Have Been Presented On Net Basis Financial Instruments Cash Collateral Received Cash Collateral Paid (i) (ii) (iii) = (i) – (ii) (iv) (v) = (iii) + (iv) As of September 30, 2023: Commodity derivatives $ 559 $ – $ 559 $ (532 ) $ – $ (27 ) $ – As of December 31, 2022: Commodity derivatives $ 412 $ – $ 412 $ (411 ) $ – $ – $ 1
Derivative Instruments Effects on Statements of Operations	The following tables present the effect of our derivative instruments designated as fair value hedges on our Unaudited Condensed Statements of Consolidated Operations for the periods indicated: Derivatives in Fair Value Hedging Relationships Location Gain (Loss) Recognized in Income on Derivative For the Three Months Ended September 30, For the Nine Months Ended September 30, 2023 2022 2023 2022 Commodity derivatives Revenue $ 1 $ 8 $ 5 $ (116 ) Total $ 1 $ 8 $ 5 $ (116 ) Derivatives in Fair Value Hedging Relationships Location Gain (Loss) Recognized in Income on Hedged Item For the Three Months Ended September 30, For the Nine Months Ended September 30, 2023 2022 2023 2022 Commodity derivatives Revenue $ (7 ) $ 41 $ (5 ) $ 66 Total $ (7 ) $ 41 $ (5 ) $ 66
Derivative Instruments Effects on Statements of Comprehensive Income	The following tables present the effect of our derivative instruments designated as cash flow hedges on our Unaudited Condensed Statements of Consolidated Operations and Unaudited Condensed Statements of Consolidated Comprehensive Income for the periods indicated: Derivatives in Cash Flow Hedging Relationships Change in Value Recognized in Other Comprehensive Income (Loss) on Derivative For the Three Months Ended September 30, For the Nine Months Ended September 30, 2023 2022 2023 2022 Interest rate derivatives $ – $ – $ (5 ) $ – Commodity derivatives – Revenue (1) (129 ) 176 (160 ) 78 Commodity derivatives – Operating costs and expenses (1) 33 10 21 48 Total $ (96 ) $ 186 $ (144 ) $ 126 (1) The fair value of these derivative instruments will be reclassified to their respective locations on the Unaudited Condensed Statement of Consolidated Operations when the forecasted transactions affect earnings.
Gain/(Loss) Reclassified from Accumulated Other Comprehensive Income/(Loss) to Income	Derivatives in Cash Flow Hedging Relationships Location Gain (Loss) Reclassified from Accumulated Other Comprehensive Income (Loss) to Income For the Three Months Ended September 30, For the Nine Months Ended September 30, 2023 2022 2023 2022 Interest rate derivatives Interest expense $ 2 $ (1 ) $ 3 $ (15 ) Commodity derivatives Revenue (58 ) (35 ) (7 ) 12 Commodity derivatives Operating costs and expenses 25 26 22 42 Total $ (31 ) $ (10 ) $ 18 $ 39
Gain/(Loss) Recognized in Income on Derivative	The following table presents the effect of our derivative instruments not designated as hedging instruments on our Unaudited Condensed Statements of Consolidated Operations for the periods indicated: Derivatives Not Designated as Hedging Instruments Location Gain (Loss) Recognized in Income on Derivative For the Three Months Ended September 30, For the Nine Months Ended September 30, 2023 2022 2023 2022 Commodity derivatives Revenue $ (27 ) $ 32 $ 190 $ 77 Commodity derivatives Operating costs and expenses – 7 – 14 Total $ (27 ) $ 39 $ 190 $ 91
Fair Value Measurements of Financial Assets and Liabilities Measured on a Recurring Basis	At September 30, 2023 Fair Value Measurements Using Quoted Prices in Active Markets for Identical Assets and Liabilities (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Total Financial assets: Commodity derivatives: Value before application of CME Rule 814 $ 391 $ 403 $ – $ 794 Impact of CME Rule 814 (46 ) (215 ) – (261 ) Total commodity derivatives 345 188 – 533 Total $ 345 $ 188 $ – $ 533 Financial liabilities: Commodity derivatives: Value before application of CME Rule 814 $ 447 $ 455 $ – $ 902 Impact of CME Rule 814 (115 ) (228 ) – (343 ) Total commodity derivatives 332 227 – 559 Total $ 332 $ 227 $ – $ 559 At December 31, 2022 Fair Value Measurements Using Quoted Prices in Active Markets for Identical Assets and Liabilities (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Total Financial assets: Interest rate derivatives: $ – $ 26 $ – $ 26 Commodity derivatives: Value before application of CME Rule 814 166 1,170 – 1,336 Impact of CME Rule 814 (161 ) (689 ) – (850 ) Total commodity derivatives 5 481 – 486 Total $ 5 $ 507 $ – $ 512 Financial liabilities: Commodity derivatives: Value before application of CME Rule 814 $ 95 $ 1,118 $ – $ 1,213 Impact of CME Rule 814 (90 ) (711 ) – (801 ) Total commodity derivatives 5 407 – 412 Total $ 5 $ 407 $ – $ 412

Related Party Transactions (Tab

Related Party Transactions (Tables)	9 Months Ended
	Sep. 30, 2023
Related Party Transactions [Abstract]
Related Party Transactions	The following table summarizes our related party transactions for the periods indicated: For the Three Months Ended September 30, For the Nine Months Ended September 30, 2023 2022 2023 2022 Revenues – related parties: Unconsolidated affiliates $ 18 $ 20 $ 44 $ 55 Costs and expenses – related parties: EPCO and its privately held affiliates $ 347 $ 334 $ 992 $ 940 Unconsolidated affiliates 51 55 135 176 Total $ 398 $ 389 $ 1,127 $ 1,116 The following table summarizes our related party accounts receivable and accounts payable balances at the dates indicated: September 30, 2023 December 31, 2022 Accounts receivable - related parties: EPCO and its privately held affiliates $ – $ 1 Unconsolidated affiliates 5 10 Total $ 5 $ 11 Accounts payable - related parties: EPCO and its privately held affiliates $ 134 $ 221 Unconsolidated affiliates 14 11 Total $ 148 $ 232 At September 30, 2023, EPCO and its privately held affiliates (including Dan Duncan LLC and certain Duncan family trusts) beneficially owned the following limited partner interests in us: Total Number of Limited Partner Interests Held Percentage of Common Units Outstanding 702,197,607 common units 32.3% We have no employees. All of our administrative and operating functions are provided either by employees of EPCO (pursuant to the ASA) or by other service providers. We and our general partner are parties to the ASA. The following table presents our related party costs and expenses attributable to the ASA with EPCO for the periods indicated: For the Three Months Ended September 30, For the Nine Months Ended September 30, 2023 2022 2023 2022 Operating costs and expenses $ 305 $ 295 $ 873 $ 821 General and administrative expenses 36 34 102 106 Total costs and expenses $ 341 $ 329 $ 975 $ 927

Income Taxes (Tables)

Income Taxes (Tables)	9 Months Ended
	Sep. 30, 2023
Income Taxes [Abstract]
Federal and State Income Tax Provision	Our federal, state and foreign income tax benefit (provision) is summarized below: For the Three Months Ended September 30, For the Nine Months Ended September 30, 2023 2022 2023 2022 Current portion of income tax provision: Federal $ (1 ) $ (1 ) $ (11 ) $ (1 ) State (8 ) (9 ) (29 ) (26 ) Foreign – – – (3 ) Total current portion (9 ) (10 ) (40 ) (30 ) Deferred portion of income tax provision: Federal (4 ) (6 ) – (19 ) State (9 ) (2 ) (5 ) (5 ) Total deferred portion (13 ) (8 ) (5 ) (24 ) Total provision for income taxes $ (22 ) $ (18 ) $ (45 ) $ (54 )
Reconciliation of Provision for Income Taxes	A reconciliation of the provision for income taxes with amounts determined by applying the statutory U.S. federal income tax rate to income before income taxes is as follows: For the Three Months Ended September 30, For the Nine Months Ended September 30, 2023 2022 2023 2022 Pre-Tax Net Book Income (“NBI”) $ 1,372 $ 1,410 $ 4,100 $ 4,217 Texas Margin Tax (1) (17 ) (10 ) (33 ) (29 ) State income tax provision, net of federal benefit – – (1 ) (1 ) Federal income tax provision computed by applying the federal statutory rate to NBI of corporate entities (5 ) (4 ) (11 ) (11 ) Other – (4 ) – (13 ) Provision for income taxes $ (22 ) $ (18 ) $ (45 ) $ (54 ) Effective income tax rate (1.6 )% (1.3 )% (1.1 )% (1.3 )% (1) Although the Texas Margin Tax is not considered a state income tax, it has the characteristics of an income tax since it is determined by applying a tax rate to a base that considers our Texas-sourced revenues and expenses.
Components of Deferred Tax Assets and Liabilities	The following table presents the significant components of deferred tax assets and deferred tax liabilities at the dates indicated: September 30, December 31, 2023 2022 Deferred tax liabilities: Attributable to investment in OTA $ 432 $ 406 Attributable to property, plant and equipment 137 133 Attributable to investments in other entities 5 5 Other 59 60 Total deferred tax liabilities 633 604 Deferred tax assets: Net operating loss carryovers (1) 46 22 Temporary differences related to Texas Margin Tax 4 4 Total deferred tax assets 50 26 Valuation allowance 22 22 Total deferred tax assets, net of valuation allowance 28 4 Total net deferred tax liabilities $ 605 $ 600 (1) The loss amount presented as of September 30, 2023 has an indefinite carryover period. All losses are subject to limitations on their utilization.

Commitments and Contingent Li_2

Commitments and Contingent Liabilities (Tables)	9 Months Ended
	Sep. 30, 2023
Commitments and Contingencies [Abstract]
Operating Leases	The following table presents information regarding operating leases where we are the lessee at September 30, 2023: Asset Category ROU Asset Carrying Value Lease Liability Carrying Value Weighted- Average Remaining Term Weighted- Average Discount Rate Storage and pipeline facilities $ 206 $ 206 9 years 4.1% Transportation equipment 17 4 years 4.2% Office and warehouse space 188 13 years 3.0% Total $ 375 $ 411 (1) Right of use (“ROU”) asset amounts are a component of “ Other assets (2) At September 30, 2023, lease liabilities of $73 million and $338 million were included within “ Other current liabilities Other long-term liabilities (3) The discount rate for each category of assets represents the weighted average of either (i) the implicit rate applicable to the underlying leases (where determinable) or (ii) our incremental borrowing rate adjusted for collateralization (if the implicit rate is not determinable). In general, the discount rates are based on either information available at the lease commencement date or January 1, 2019 for leases existing at the adoption date for ASC 842, Leases
Consolidated Lease Expense	The following table disaggregates our total operating lease expense for the periods indicated For the Three Months Ended September 30, For the Nine Months Ended September 30, 2023 2022 2023 2022 Long-term operating leases: Fixed lease expense: Non-cash lease expense (amortization of ROU assets) $ 18 $ 16 $ 51 $ 43 Related accretion expense on lease liability balances 4 3 11 9 Total fixed lease expense 22 19 62 52 Variable lease expense 3 3 9 4 Subtotal operating lease expense 25 22 71 56 Short-term operating leases 30 25 82 65 Total operating lease expense $ 55 $ 47 $ 153 $ 121

Supplemental Cash Flow Inform_2

Supplemental Cash Flow Information (Tables)	9 Months Ended
	Sep. 30, 2023
Supplemental Cash Flow Information [Abstract]
Net Effect of Changes in Operating Assets and Liabilities	The following table provides information regarding the net effect of changes in our operating accounts and cash payments for interest and income taxes for the periods indicated: For the Nine Months Ended September 30, 2023 2022 Decrease (increase) in: Accounts receivable – trade $ 36 $ 365 Accounts receivable – related parties 4 (9 ) Inventories (766 ) (475 ) Prepaid and other current assets (665 ) 272 Other assets 31 54 Increase (decrease) in: Accounts payable – trade 67 (134 ) Accounts payable – related parties (84 ) (12 ) Accrued product payables 457 (216 ) Accrued interest (189 ) (233 ) Other current liabilities 467 (220 ) Other long-term liabilities (64 ) (74 ) Net effect of changes in operating accounts $ (706 ) $ (682 ) Cash payments for interest, net of $ and $ capitalized during the nine months ended September 30, 2023 2022 $ 1,123 $ 1,141 Cash payments for federal and state income taxes $ 22 $ –

Partnership Organization and _2

Partnership Organization and Operations (Details)	Sep. 30, 2023
EPCO and its privately held affiliates [Member] | Common Units [Member]
Related Party Transaction [Line Items]
Percentage of total units outstanding	32.30%

Summary of Significant Accoun_4

Summary of Significant Accounting Policies (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2023	Dec. 31, 2022	Sep. 30, 2022	Dec. 31, 2021
Cash, Cash Equivalents and Restricted Cash:
Cash and cash equivalents	$ 171	$ 76
Restricted cash	143	130
Total cash, cash equivalents and restricted cash shown in the Unaudited Condensed Statements of Consolidated Cash Flows	314	$ 206	$ 255	$ 2,965
Allowance for Credit Losses [Member]
Movement in valuation allowances and reserves [Roll Forward]
Balance at beginning of period	54
Charged to costs and expenses	0
Charged to other accounts	0
Deductions	(5)
Balance at end of period	$ 49

Inventories (Details)

Inventories (Details) - USD ($) $ in Millions		3 Months Ended		9 Months Ended
		Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022	Dec. 31, 2022
Inventory by Product Type [Abstract]
NGLs		$ 2,550		$ 2,550		$ 1,689
Petrochemicals and refined products		400		400		430
Crude oil		388		388		411
Natural gas		7		7		24
Total		3,345		3,345		$ 2,554
Summary of cost of sales and lower of cost or net realizable value adjustments [Abstract]
Cost of sales	[1]	8,786	$ 12,319	25,796	$ 35,325
Lower of cost or net realizable value adjustments recognized in cost of sales		$ 8	$ 11	$ 17	$ 18
[1]Cost of sales is a component of “Operating costs and expenses” as presented on our Unaudited Condensed Statements of Consolidated Operations.  Fluctuations in these amounts are primarily due to changes in energy commodity prices and sales volumes associated with our marketing activities.

Property, Plant and Equipment_2

Property, Plant and Equipment (Details) - USD ($) $ in Millions		3 Months Ended		9 Months Ended
		Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022	Dec. 31, 2022
Property, plant and equipment and accumulated depreciation [Abstract]
Property, plant and equipment, gross		$ 65,284		$ 65,284		$ 63,122
Less accumulated depreciation		19,995		19,995		18,800
Subtotal property, plant, and equipment, net		45,289		45,289		44,322
Capitalized major maintenance costs for reaction-based plants, net of accumulated amortization	[1]	51		51		79
Property, plant and equipment, net		45,340		45,340		44,401
Summary of depreciation expense and capitalized interest [Abstract]
Depreciation expense	[2]	476	$ 446	1,379	$ 1,329
Capitalized interest	[3]	17	$ 22	86	$ 60
Asset Retirement Obligations [Roll Forward]
Balance at beginning of period				234
Liabilities incurred	[4]			2
Revisions in estimated cash flows	[5]			(11)
Liabilities settled	[6]			(11)
Accretion expense	[7]			9
Balance at end of period		223		223
Asset retirement obligation, current liability		7		7
Asset retirement obligations, long-term liability		216		216
Capitalized costs, asset retirement costs		107		107		117
Plants, pipelines and facilities [Member]
Property, plant and equipment and accumulated depreciation [Abstract]
Property, plant and equipment, gross	[8]	$ 57,337		$ 57,337		54,396
Plants, pipelines and facilities [Member] | Minimum [Member]
Property, plant and equipment and accumulated depreciation [Abstract]
Estimated useful life	[8],[9]	3 years		3 years
Plants, pipelines and facilities [Member] | Maximum [Member]
Property, plant and equipment and accumulated depreciation [Abstract]
Estimated useful life	[8],[9]	45 years		45 years
Underground and other storage facilities [Member]
Property, plant and equipment and accumulated depreciation [Abstract]
Property, plant and equipment, gross	[10]	$ 4,374		$ 4,374		4,329
Underground and other storage facilities [Member] | Minimum [Member]
Property, plant and equipment and accumulated depreciation [Abstract]
Estimated useful life	[10],[11]	5 years		5 years
Underground and other storage facilities [Member] | Maximum [Member]
Property, plant and equipment and accumulated depreciation [Abstract]
Estimated useful life	[10],[11]	40 years		40 years
Transportation equipment [Member]
Property, plant and equipment and accumulated depreciation [Abstract]
Property, plant and equipment, gross	[12]	$ 235		$ 235		222
Transportation equipment [Member] | Minimum [Member]
Property, plant and equipment and accumulated depreciation [Abstract]
Estimated useful life	[12]	3 years		3 years
Transportation equipment [Member] | Maximum [Member]
Property, plant and equipment and accumulated depreciation [Abstract]
Estimated useful life	[12]	10 years		10 years
Marine vessels [Member]
Property, plant and equipment and accumulated depreciation [Abstract]
Property, plant and equipment, gross	[13]	$ 934		$ 934		921
Marine vessels [Member] | Minimum [Member]
Property, plant and equipment and accumulated depreciation [Abstract]
Estimated useful life	[13]	15 years		15 years
Marine vessels [Member] | Maximum [Member]
Property, plant and equipment and accumulated depreciation [Abstract]
Estimated useful life	[13]	30 years		30 years
Land [Member]
Property, plant and equipment and accumulated depreciation [Abstract]
Property, plant and equipment, gross		$ 398		$ 398		387
Construction in progress [Member]
Property, plant and equipment and accumulated depreciation [Abstract]
Property, plant and equipment, gross		$ 2,006		$ 2,006		$ 2,867
Distillation-based and reaction-based plants [Member] | Minimum [Member]
Property, plant and equipment and accumulated depreciation [Abstract]
Estimated useful life		20 years		20 years
Distillation-based and reaction-based plants [Member] | Maximum [Member]
Property, plant and equipment and accumulated depreciation [Abstract]
Estimated useful life		35 years		35 years
Pipelines and related equipment [Member] | Minimum [Member]
Property, plant and equipment and accumulated depreciation [Abstract]
Estimated useful life		5 years		5 years
Pipelines and related equipment [Member] | Maximum [Member]
Property, plant and equipment and accumulated depreciation [Abstract]
Estimated useful life		45 years		45 years
Terminal facilities [Member] | Minimum [Member]
Property, plant and equipment and accumulated depreciation [Abstract]
Estimated useful life		10 years		10 years
Terminal facilities [Member] | Maximum [Member]
Property, plant and equipment and accumulated depreciation [Abstract]
Estimated useful life		35 years		35 years
Buildings [Member] | Minimum [Member]
Property, plant and equipment and accumulated depreciation [Abstract]
Estimated useful life		20 years		20 years
Buildings [Member] | Maximum [Member]
Property, plant and equipment and accumulated depreciation [Abstract]
Estimated useful life		40 years		40 years
Office furniture and equipment [Member] | Minimum [Member]
Property, plant and equipment and accumulated depreciation [Abstract]
Estimated useful life		3 years		3 years
Office furniture and equipment [Member] | Maximum [Member]
Property, plant and equipment and accumulated depreciation [Abstract]
Estimated useful life		20 years		20 years
Laboratory and shop equipment [Member] | Minimum [Member]
Property, plant and equipment and accumulated depreciation [Abstract]
Estimated useful life		5 years		5 years
Laboratory and shop equipment [Member] | Maximum [Member]
Property, plant and equipment and accumulated depreciation [Abstract]
Estimated useful life		35 years		35 years
Underground storage facilities [Member] | Minimum [Member]
Property, plant and equipment and accumulated depreciation [Abstract]
Estimated useful life		5 years		5 years
Underground storage facilities [Member] | Maximum [Member]
Property, plant and equipment and accumulated depreciation [Abstract]
Estimated useful life		35 years		35 years
Storage tanks [Member] | Minimum [Member]
Property, plant and equipment and accumulated depreciation [Abstract]
Estimated useful life		10 years		10 years
Storage tanks [Member] | Maximum [Member]
Property, plant and equipment and accumulated depreciation [Abstract]
Estimated useful life		40 years		40 years
Water wells [Member] | Minimum [Member]
Property, plant and equipment and accumulated depreciation [Abstract]
Estimated useful life		5 years		5 years
Water wells [Member] | Maximum [Member]
Property, plant and equipment and accumulated depreciation [Abstract]
Estimated useful life		35 years		35 years
Capitalized Major Maintenance [Member] | Weighted Average [Member]
Property, plant and equipment and accumulated depreciation [Abstract]
Expected remaining amortization period				10 months 24 days
[1]For reaction-based plants, we use the deferral method when accounting for major maintenance activities. Under the deferral method, major maintenance costs are capitalized and amortized over the period until the next major overhaul project. On a weighted-average basis, the expected remaining amortization period for these costs is 0.9 years.

Investments in Unconsolidated_3

Investments in Unconsolidated Affiliates (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022	Dec. 31, 2022
Schedule of Equity Method Investments [Line Items]
Investments in unconsolidated affiliates	$ 2,337		$ 2,337		$ 2,352
Equity in income of unconsolidated affiliates by business segment [Abstract]
Equity in income of unconsolidated affiliates	122	$ 111	347	$ 335
NGL Pipelines & Services [Member]
Schedule of Equity Method Investments [Line Items]
Investments in unconsolidated affiliates	618		618		640
Equity in income of unconsolidated affiliates by business segment [Abstract]
Equity in income of unconsolidated affiliates	32	39	101	109
Crude Oil Pipelines & Services [Member]
Schedule of Equity Method Investments [Line Items]
Investments in unconsolidated affiliates	1,684		1,684		1,677
Equity in income of unconsolidated affiliates by business segment [Abstract]
Equity in income of unconsolidated affiliates	89	70	241	221
Natural Gas Pipelines & Services [Member]
Schedule of Equity Method Investments [Line Items]
Investments in unconsolidated affiliates	32		32		32
Equity in income of unconsolidated affiliates by business segment [Abstract]
Equity in income of unconsolidated affiliates	1	2	4	4
Petrochemical & Refined Products Services [Member]
Schedule of Equity Method Investments [Line Items]
Investments in unconsolidated affiliates	3		3		$ 3
Equity in income of unconsolidated affiliates by business segment [Abstract]
Equity in income of unconsolidated affiliates	$ 0	$ 0	$ 1	$ 1

Intangible Assets and Goodwil_2

Intangible Assets and Goodwill (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022	Dec. 31, 2022
Identifiable intangible assets [Abstract]
Gross Value	$ 5,895		$ 5,895		$ 5,891
Accumulated Amortization	(2,074)		(2,074)		(1,926)
Carrying Value	3,821		3,821		3,965
Amortization expense	52	$ 46	148	$ 132
Forecasted amortization expense [Abstract]
Remainder of 2023	55		55
2024	222		222
2025	231		231
2026	237		237
2027	236		236
NGL Pipelines & Services [Member]
Identifiable intangible assets [Abstract]
Gross Value	1,201		1,201		1,198
Accumulated Amortization	(362)		(362)		(333)
Carrying Value	839		839		865
Amortization expense	10	10	29	27
NGL Pipelines & Services [Member] | Customer relationship intangibles [Member]
Identifiable intangible assets [Abstract]
Gross Value	449		449		449
Accumulated Amortization	(260)		(260)		(249)
Carrying Value	189		189		200
NGL Pipelines & Services [Member] | Contract-based intangibles [Member]
Identifiable intangible assets [Abstract]
Gross Value	752		752		749
Accumulated Amortization	(102)		(102)		(84)
Carrying Value	650		650		665
Crude Oil Pipelines & Services [Member]
Identifiable intangible assets [Abstract]
Gross Value	2,478		2,478		2,478
Accumulated Amortization	(778)		(778)		(702)
Carrying Value	1,700		1,700		1,776
Amortization expense	28	21	76	62
Crude Oil Pipelines & Services [Member] | Customer relationship intangibles [Member]
Identifiable intangible assets [Abstract]
Gross Value	2,195		2,195		2,195
Accumulated Amortization	(504)		(504)		(431)
Carrying Value	1,691		1,691		1,764
Crude Oil Pipelines & Services [Member] | Contract-based intangibles [Member]
Identifiable intangible assets [Abstract]
Gross Value	283		283		283
Accumulated Amortization	(274)		(274)		(271)
Carrying Value	9		9		12
Natural Gas Pipelines & Services [Member]
Identifiable intangible assets [Abstract]
Gross Value	1,990		1,990		1,989
Accumulated Amortization	(820)		(820)		(783)
Carrying Value	1,170		1,170		1,206
Amortization expense	12	13	37	38
Natural Gas Pipelines & Services [Member] | Customer relationship intangibles [Member]
Identifiable intangible assets [Abstract]
Gross Value	1,350		1,350		1,350
Accumulated Amortization	(615)		(615)		(588)
Carrying Value	735		735		762
Natural Gas Pipelines & Services [Member] | Contract-based intangibles [Member]
Identifiable intangible assets [Abstract]
Gross Value	640		640		639
Accumulated Amortization	(205)		(205)		(195)
Carrying Value	435		435		444
Petrochemical & Refined Products Services [Member]
Identifiable intangible assets [Abstract]
Gross Value	226		226		226
Accumulated Amortization	(114)		(114)		(108)
Carrying Value	112		112		118
Amortization expense	2	$ 2	6	$ 5
Petrochemical & Refined Products Services [Member] | Customer relationship intangibles [Member]
Identifiable intangible assets [Abstract]
Gross Value	181		181		181
Accumulated Amortization	(85)		(85)		(80)
Carrying Value	96		96		101
Petrochemical & Refined Products Services [Member] | Contract-based intangibles [Member]
Identifiable intangible assets [Abstract]
Gross Value	45		45		45
Accumulated Amortization	(29)		(29)		(28)
Carrying Value	$ 16		$ 16		$ 17

Debt Obligations (Details)

Debt Obligations (Details) - USD ($) $ in Millions		1 Months Ended		9 Months Ended
		Mar. 31, 2023	Jan. 31, 2023	Sep. 30, 2023	Sep. 30, 2022	Dec. 31, 2022
Debt Instrument [Line Items]
Principal outstanding				$ 29,191		$ 28,566
Other, non-principal amounts				(275)		(271)
Less current maturities of debt				(1,470)		(1,744)
Total long-term debt				27,446		26,551
Debt Obligations Terms:
Repayment of debt obligations				57,062	$ 64,828
Letters of credit outstanding				152
Senior Debt Obligations [Member]
Debt Instrument [Line Items]
Principal outstanding				26,895		26,270
Debt Obligations Terms:
Aggregate debt principal issued			$ 1,750
Senior Debt Obligations [Member] | Commercial Paper Notes [Member]
Debt Instrument [Line Items]
Principal outstanding				$ 620		495
Information regarding variable interest rates paid:
Weighted-average interest rate paid				5.34%
Senior Debt Obligations [Member] | Commercial Paper Notes [Member] | Minimum [Member]
Information regarding variable interest rates paid:
Variable interest rates paid				4.59%
Senior Debt Obligations [Member] | Commercial Paper Notes [Member] | Maximum [Member]
Information regarding variable interest rates paid:
Variable interest rates paid				5.56%
Senior Debt Obligations [Member] | EPO Senior Notes HH, due March 2023 [Member]
Debt Instrument [Line Items]
Principal outstanding				$ 0		1,250
Debt Obligations Terms:
Interest rate, stated percentage				3.35%
Repayment of debt obligations		$ 1,250
Senior Debt Obligations [Member] | EPO Senior Notes JJ, due February 2024 [Member]
Debt Instrument [Line Items]
Principal outstanding				$ 850		850
Debt Obligations Terms:
Interest rate, stated percentage				3.90%
Senior Debt Obligations [Member] | March 2023 $1.5 Billion EPO 364-Day Revolving Credit Agreement, due March 2024 [Member]
Debt Instrument [Line Items]
Principal outstanding	[1]			$ 0		0
Debt Obligations Terms:
Credit facility interest rate description				SOFR, plus an additional variable spread; or (ii) an alternate base rate, which is the greatest of (a) the Prime Rate in effect on such day, (b) the Federal Funds Effective Rate in effect on such day plus 0.5%, or (c) Adjusted Term SOFR, for an interest period of one month in effect on such day plus 1%, and a variable spread. The applicable spreads are determined based on EPO's debt ratings.
Maximum borrowing capacity				$ 1,500
Maximum bank commitments increase				200
Total maximum borrowing capacity				1,700
Senior Debt Obligations [Member] | EPO Senior Notes MM, due February 2025 [Member]
Debt Instrument [Line Items]
Principal outstanding				$ 1,150		1,150
Debt Obligations Terms:
Interest rate, stated percentage				3.75%
Senior Debt Obligations [Member] | EPO Senior Notes FFF, due January 2026 [Member]
Debt Instrument [Line Items]
Principal outstanding				$ 750		0
Debt Obligations Terms:
Interest rate, stated percentage				5.05%
Aggregate debt principal issued			$ 750
Debt issued as percent of principal amount			99.893%
Senior Debt Obligations [Member] | EPO Senior Notes PP, due February 2026 [Member]
Debt Instrument [Line Items]
Principal outstanding				$ 875		875
Debt Obligations Terms:
Interest rate, stated percentage				3.70%
Senior Debt Obligations [Member] | EPO Senior Notes SS, due February 2027[Member]
Debt Instrument [Line Items]
Principal outstanding				$ 575		575
Debt Obligations Terms:
Interest rate, stated percentage				3.95%
Senior Debt Obligations [Member] | March 2023 $2.7 Billion EPO Multi-Year Revolving Credit Agreement, due March 2028 [Member]
Debt Instrument [Line Items]
Principal outstanding	[2]			$ 0		0
Debt Obligations Terms:
Credit facility interest rate description				SOFR, plus an additional variable spread; or (ii) an alternate base rate, which is the greatest of (a) the Prime Rate in effect on such day, (b) the Federal Funds Effective Rate in effect on such day plus 0.5%, or (c) Adjusted Term SOFR, for an interest period of one month in effect on such day plus 1%, and a variable spread. The applicable spreads are determined based on EPO's debt ratings.
Maximum borrowing capacity				$ 2,700
Maximum bank commitments increase				500
Total maximum borrowing capacity				3,200
Senior Debt Obligations [Member] | EPO Senior Notes WW, due October 2028 [Member]
Debt Instrument [Line Items]
Principal outstanding				$ 1,000		1,000
Debt Obligations Terms:
Interest rate, stated percentage				4.15%
Senior Debt Obligations [Member] | EPO Senior Notes YY, due July 2029 [Member]
Debt Instrument [Line Items]
Principal outstanding				$ 1,250		1,250
Debt Obligations Terms:
Interest rate, stated percentage				3.125%
Senior Debt Obligations [Member] | EPO Senior Notes AAA, due January 2030 [Member]
Debt Instrument [Line Items]
Principal outstanding				$ 1,250		1,250
Debt Obligations Terms:
Interest rate, stated percentage				2.80%
Senior Debt Obligations [Member] | EPO Senior Notes GGG, due January 2033 [Member]
Debt Instrument [Line Items]
Principal outstanding				$ 1,000		0
Debt Obligations Terms:
Interest rate, stated percentage				5.35%
Aggregate debt principal issued			$ 1,000
Debt issued as percent of principal amount			99.803%
Senior Debt Obligations [Member] | EPO Senior Notes D, due March 2033 [Member]
Debt Instrument [Line Items]
Principal outstanding				$ 500		500
Debt Obligations Terms:
Interest rate, stated percentage				6.875%
Senior Debt Obligations [Member] | EPO Senior Notes H, due October 2034 [Member]
Debt Instrument [Line Items]
Principal outstanding				$ 350		350
Debt Obligations Terms:
Interest rate, stated percentage				6.65%
Senior Debt Obligations [Member] | EPO Senior Notes J, due March 2035 [Member]
Debt Instrument [Line Items]
Principal outstanding				$ 250		250
Debt Obligations Terms:
Interest rate, stated percentage				5.75%
Senior Debt Obligations [Member] | EPO Senior Notes W, due April 2038 [Member]
Debt Instrument [Line Items]
Principal outstanding				$ 400		400
Debt Obligations Terms:
Interest rate, stated percentage				7.55%
Senior Debt Obligations [Member] | EPO Senior Notes R, due October 2039 [Member]
Debt Instrument [Line Items]
Principal outstanding				$ 600		600
Debt Obligations Terms:
Interest rate, stated percentage				6.125%
Senior Debt Obligations [Member] | EPO Senior Notes Z, due September 2040 [Member]
Debt Instrument [Line Items]
Principal outstanding				$ 600		600
Debt Obligations Terms:
Interest rate, stated percentage				6.45%
Senior Debt Obligations [Member] | EPO Senior Notes BB, due February 2041 [Member]
Debt Instrument [Line Items]
Principal outstanding				$ 750		750
Debt Obligations Terms:
Interest rate, stated percentage				5.95%
Senior Debt Obligations [Member] | EPO Senior Notes DD, due February 2042 [Member]
Debt Instrument [Line Items]
Principal outstanding				$ 600		600
Debt Obligations Terms:
Interest rate, stated percentage				5.70%
Senior Debt Obligations [Member] | EPO Senior Notes EE, due August 2042 [Member]
Debt Instrument [Line Items]
Principal outstanding				$ 750		750
Debt Obligations Terms:
Interest rate, stated percentage				4.85%
Senior Debt Obligations [Member] | EPO Senior Notes GG, due February 2043 [Member]
Debt Instrument [Line Items]
Principal outstanding				$ 1,100		1,100
Debt Obligations Terms:
Interest rate, stated percentage				4.45%
Senior Debt Obligations [Member] | EPO Senior Notes II, due March 2044 [Member]
Debt Instrument [Line Items]
Principal outstanding				$ 1,400		1,400
Debt Obligations Terms:
Interest rate, stated percentage				4.85%
Senior Debt Obligations [Member] | EPO Senior Notes KK, due February 2045 [Member]
Debt Instrument [Line Items]
Principal outstanding				$ 1,150		1,150
Debt Obligations Terms:
Interest rate, stated percentage				5.10%
Senior Debt Obligations [Member] | EPO Senior Notes QQ, due May 2046 [Member]
Debt Instrument [Line Items]
Principal outstanding				$ 975		975
Debt Obligations Terms:
Interest rate, stated percentage				4.90%
Senior Debt Obligations [Member] | EPO Senior Notes UU, due February 2048 [Member]
Debt Instrument [Line Items]
Principal outstanding				$ 1,250		1,250
Debt Obligations Terms:
Interest rate, stated percentage				4.25%
Senior Debt Obligations [Member] | EPO Senior Notes XX, due February 2049 [Member]
Debt Instrument [Line Items]
Principal outstanding				$ 1,250		1,250
Debt Obligations Terms:
Interest rate, stated percentage				4.80%
Senior Debt Obligations [Member] | EPO Senior Notes ZZ, due January 2050 [Member]
Debt Instrument [Line Items]
Principal outstanding				$ 1,250		1,250
Debt Obligations Terms:
Interest rate, stated percentage				4.20%
Senior Debt Obligations [Member] | EPO Senior Notes BBB, due January 2051 [Member]
Debt Instrument [Line Items]
Principal outstanding				$ 1,000		1,000
Debt Obligations Terms:
Interest rate, stated percentage				3.70%
Senior Debt Obligations [Member] | EPO Senior Notes DDD, due February 2052 [Member]
Debt Instrument [Line Items]
Principal outstanding				$ 1,000		1,000
Debt Obligations Terms:
Interest rate, stated percentage				3.20%
Senior Debt Obligations [Member] | EPO Senior Notes EEE, due February 2053 [Member]
Debt Instrument [Line Items]
Principal outstanding				$ 1,000		1,000
Debt Obligations Terms:
Interest rate, stated percentage				3.30%
Senior Debt Obligations [Member] | EPO Senior Notes NN, due October 2054 [Member]
Debt Instrument [Line Items]
Principal outstanding				$ 400		400
Debt Obligations Terms:
Interest rate, stated percentage				4.95%
Senior Debt Obligations [Member] | EPO Senior Notes CCC, due January 2060 [Member]
Debt Instrument [Line Items]
Principal outstanding				$ 1,000		1,000
Debt Obligations Terms:
Interest rate, stated percentage				3.95%
Junior Debt Obligations [Member] | EPO Junior Subordinated Notes C, due June 2067 [Member]
Debt Instrument [Line Items]
Principal outstanding	[3],[4]			$ 232		232
Debt Obligations Terms:
Variable rate, Interest rate terms				As a result of the LIBOR Act, our Junior Subordinated Notes C and D and the TEPPCO Junior Subordinated Notes, which were subject to a variable rate (as defined by the applicable agreement) based on three-month LIBOR (in each case, a “LIBOR Rate”) through June 30, 2023, replaced the applicable LIBOR Rate with a variable rate based on the three-month CME Term SOFR as administered by the CME Group Benchmark Administration, Ltd. plus a 0.26161% tenor spread adjustment beginning on July 1, 2023.
Variable annual interest rate thereafter, variable rate basis				3-month Chicago Mercantile Exchange (“CME”) Term Secured Overnight Financing Rate (“SOFR”) plus (a) a 0.26161% tenor spread adjustment
Variable interest rate				2.778%
Information regarding variable interest rates paid:
Weighted-average interest rate paid				7.95%
Junior Debt Obligations [Member] | EPO Junior Subordinated Notes C, due June 2067 [Member] | Minimum [Member]
Information regarding variable interest rates paid:
Variable interest rates paid				7.54%
Junior Debt Obligations [Member] | EPO Junior Subordinated Notes C, due June 2067 [Member] | Maximum [Member]
Information regarding variable interest rates paid:
Variable interest rates paid				8.45%
Junior Debt Obligations [Member] | EPO Junior Subordinated Notes D, due August 2077 [Member]
Debt Instrument [Line Items]
Principal outstanding	[3],[5]			$ 350		350
Debt Obligations Terms:
Variable rate, Interest rate terms				As a result of the LIBOR Act, our Junior Subordinated Notes C and D and the TEPPCO Junior Subordinated Notes, which were subject to a variable rate (as defined by the applicable agreement) based on three-month LIBOR (in each case, a “LIBOR Rate”) through June 30, 2023, replaced the applicable LIBOR Rate with a variable rate based on the three-month CME Term SOFR as administered by the CME Group Benchmark Administration, Ltd. plus a 0.26161% tenor spread adjustment beginning on July 1, 2023.
Variable annual interest rate thereafter, variable rate basis				3-month CME Term SOFR plus (a) a 0.26161% tenor spread adjustment
Variable interest rate				2.986%
Information regarding variable interest rates paid:
Weighted-average interest rate paid				8.10%
Junior Debt Obligations [Member] | EPO Junior Subordinated Notes D, due August 2077 [Member] | Minimum [Member]
Information regarding variable interest rates paid:
Variable interest rates paid				7.63%
Junior Debt Obligations [Member] | EPO Junior Subordinated Notes D, due August 2077 [Member] | Maximum [Member]
Information regarding variable interest rates paid:
Variable interest rates paid				8.62%
Junior Debt Obligations [Member] | EPO Junior Subordinated Notes E, due August 2077 [Member]
Debt Instrument [Line Items]
Principal outstanding	[3],[6]			$ 1,000		1,000
Debt Obligations Terms:
Variable rate, Interest rate terms				Additionally, our Junior Subordinated Notes E and F, which would have been subject to a variable rate (as defined by the applicable agreement) based on three-month LIBOR beginning in August 2027 and February 2028, respectively, will replace the applicable LIBOR Rate with the three-month CME Term SOFR plus a 0.26161% tenor spread adjustment.
Interest rate, stated percentage				5.25%
Variable annual interest rate thereafter, variable rate basis				3-month CME Term SOFR plus (a) a 0.26161% tenor spread adjustment
Variable interest rate				3.033%
Junior Debt Obligations [Member] | EPO Junior Subordinated Notes F, due February 2078 [Member]
Debt Instrument [Line Items]
Principal outstanding	[3],[7]			$ 700		700
Debt Obligations Terms:
Variable rate, Interest rate terms				Additionally, our Junior Subordinated Notes E and F, which would have been subject to a variable rate (as defined by the applicable agreement) based on three-month LIBOR beginning in August 2027 and February 2028, respectively, will replace the applicable LIBOR Rate with the three-month CME Term SOFR plus a 0.26161% tenor spread adjustment.
Interest rate, stated percentage				5.375%
Variable annual interest rate thereafter, variable rate basis				3-month CME Term SOFR plus (a) a 0.26161% tenor spread adjustment
Variable interest rate				2.57%
Junior Debt Obligations [Member] | TEPPCO Junior Subordinated Notes, due June 2067 [Member]
Debt Instrument [Line Items]
Principal outstanding	[3],[4]			$ 14		$ 14
Debt Obligations Terms:
Variable rate, Interest rate terms				As a result of the LIBOR Act, our Junior Subordinated Notes C and D and the TEPPCO Junior Subordinated Notes, which were subject to a variable rate (as defined by the applicable agreement) based on three-month LIBOR (in each case, a “LIBOR Rate”) through June 30, 2023, replaced the applicable LIBOR Rate with a variable rate based on the three-month CME Term SOFR as administered by the CME Group Benchmark Administration, Ltd. plus a 0.26161% tenor spread adjustment beginning on July 1, 2023.
Variable annual interest rate thereafter, variable rate basis				3-month Chicago Mercantile Exchange (“CME”) Term Secured Overnight Financing Rate (“SOFR”) plus (a) a 0.26161% tenor spread adjustment
Variable interest rate				2.778%
Information regarding variable interest rates paid:
Weighted-average interest rate paid				7.95%
Junior Debt Obligations [Member] | TEPPCO Junior Subordinated Notes, due June 2067 [Member] | Minimum [Member]
Information regarding variable interest rates paid:
Variable interest rates paid				7.54%
Junior Debt Obligations [Member] | TEPPCO Junior Subordinated Notes, due June 2067 [Member] | Maximum [Member]
Information regarding variable interest rates paid:
Variable interest rates paid				8.45%
[1]Under the terms of the agreement, EPO may borrow up to $1.5 billion (which may be increased by up to $200 million to $1.7 billion at EPO’s election provided certain conditions are met).[2]Under the terms of the agreement, EPO may borrow up to $2.7 billion (which may be increased by up to $500 million to $3.2 billion at EPO’s election provided certain conditions are met).[3]Effective July 1, 2023, all series of our junior subordinated notes subject to a variable interest rate replaced the 3-month London Interbank Offered Rate (“LIBOR”) with 3-month CME Term SOFR plus a 0.26161% tenor spread adjustment.  See discussion below in “Variable Interest Rates” regarding the LIBOR replacement and LIBOR replacement rate.[4]Variable rate is reset quarterly and based on 3-month Chicago Mercantile Exchange (“CME”) Term Secured Overnight Financing Rate (“SOFR”) plus (a) a 0.26161% tenor spread adjustment and (b) 2.778%.[5]Variable rate is reset quarterly and based on 3-month CME Term SOFR plus (a) a 0.26161% tenor spread adjustment and (b) 2.986%.[6]Fixed rate of 5.250% through August 15, 2027; thereafter, a variable rate reset quarterly and based on 3-month CME Term SOFR plus (a) a 0.26161% tenor spread adjustment and (b) 3.033%.[7]Fixed rate of 5.375% through February 14, 2028; thereafter, a variable rate reset quarterly and based on 3-month CME Term SOFR plus (a) a 0.26161% tenor spread adjustment and (b) 2.57%.

Debt Obligations, Debt Maturiti

Debt Obligations, Debt Maturities (Details) - USD ($) $ in Millions	Sep. 30, 2023	Dec. 31, 2022
Scheduled Maturities of Debt [Abstract]
Remainder of 2023	$ 620
2024	850
2025	1,150
2026	1,625
2027	575
Thereafter	24,371
Total	29,191	$ 28,566
Commercial Paper Notes [Member]
Scheduled Maturities of Debt [Abstract]
Remainder of 2023	620
2024	0
2025	0
2026	0
2027	0
Thereafter	0
Total	620
Senior Notes [Member]
Scheduled Maturities of Debt [Abstract]
Remainder of 2023	0
2024	850
2025	1,150
2026	1,625
2027	575
Thereafter	22,075
Total	26,275
Junior Subordinated Notes [Member]
Scheduled Maturities of Debt [Abstract]
Remainder of 2023	0
2024	0
2025	0
2026	0
2027	0
Thereafter	2,296
Total	$ 2,296

Capital Accounts, Summary of Ch

Capital Accounts, Summary of Changes in Outstanding Units (Details) - shares	3 Months Ended			9 Months Ended
	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Sep. 30, 2023
Summary of changes in outstanding units [Roll Forward]
Common units outstanding, beginning balance (in units)	2,171,752,332	2,174,508,951	2,170,806,347	2,170,806,347
Common unit repurchases under 2019 Buyback Program (in units)		(2,910,121)	(682,589)
Common units issued in connection with the vesting of phantom unit awards, net (in units)	126,671	153,502	4,364,301
Other (in units)			20,892
Common units outstanding, ending balance (in units)	2,171,879,003	2,171,752,332	2,174,508,951	2,171,879,003

Capital Accounts, Issuances of

Capital Accounts, Issuances of Equity (Details) - USD ($) $ in Millions	3 Months Ended				9 Months Ended
	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Net Cash Proceeds from Sale of Common Units [Abstract]
Common units issued in connection with the vesting of phantom unit awards, net (in units)	126,671	153,502	4,364,301
Buyback Program:
Total of common units repurchased under a buyback program (in units)		2,910,121	682,589
Common units acquired in connection with buyback program				$ 72	$ 92	$ 107
Long-Term Incentive Plan (2008) [Member]
Net Cash Proceeds from Sale of Common Units [Abstract]
Common units issued in connection with the vesting of phantom unit awards, net (in units)					4,644,474
2019 Buyback Program [Member]
Buyback Program:
Amount authorized under 2019 Buyback Program	$ 2,000				$ 2,000
Remaining available capacity under the 2019 Buyback Program	1,200				$ 1,200
Total of common units repurchased under a buyback program (in units)				2,925,842	3,592,710	4,333,963
Common units acquired in connection with buyback program				$ 72	$ 92	$ 107
At-the-Market Registration [Member]
Registration Statements and Equity Offerings [Line Items]
Maximum common units authorized for issuance	2,500				2,500
Remaining units available for issuance	$ 2,500				2,500
Employee Unit Purchase Plan [Member]
Net Cash Proceeds from Sale of Common Units [Abstract]
Employer contribution to EUPP					$ 2
Distribution Reinvestment and Employee Unit Purchase Plans [Member]
Net Cash Proceeds from Sale of Common Units [Abstract]
Number of common units purchased on the open market and delivered to participants (in units)					4,986,549

Capital Accounts, Redeemable Pr

Capital Accounts, Redeemable Preferred Limited Partner Interests (Details) $ in Millions	9 Months Ended
	Sep. 30, 2023 USD ($) shares
Temporary Equity [Line Items]
Preferred units outstanding, beginning balance (in units)	50,412
Preferred units outstanding, ending balance (in units)	50,412
Cash distributions paid to convertible preferred unitholders | $	$ 3

Capital Accounts, Accumulated O

Capital Accounts, Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Accumulated Other Comprehensive Income (Loss) [Abstract]
Accumulated Other Comprehensive Income (Loss), Beginning Balance			$ 365	$ 286
Other comprehensive income (loss) for period, before reclassifications			(144)	126
Reclassification of losses (gains) to net income during period			(18)	(39)
Total other comprehensive income (loss) for period	$ (65)	$ 196	(162)	87
Accumulated Other Comprehensive Income (Loss), Ending balance	203	373	203	373
Interest expense	328	309	944	937
Revenue	(11,998)	(15,468)	(35,093)	(44,536)
Operating costs and expenses	10,366	13,812	30,260	39,550
Total	(1,350)	(1,392)	(4,055)	(4,163)
Cash Flow Hedges [Member] | Interest Rate Derivatives [Member]
Accumulated Other Comprehensive Income (Loss) [Abstract]
Accumulated Other Comprehensive Income (Loss), Beginning Balance			192	147
Other comprehensive income (loss) for period, before reclassifications			(5)	0
Reclassification of losses (gains) to net income during period			(3)	15
Total other comprehensive income (loss) for period			(8)	15
Accumulated Other Comprehensive Income (Loss), Ending balance	184	162	184	162
Cash Flow Hedges [Member] | Commodity Derivatives [Member]
Accumulated Other Comprehensive Income (Loss) [Abstract]
Accumulated Other Comprehensive Income (Loss), Beginning Balance			171	137
Other comprehensive income (loss) for period, before reclassifications			(139)	126
Reclassification of losses (gains) to net income during period			(15)	(54)
Total other comprehensive income (loss) for period			(154)	72
Accumulated Other Comprehensive Income (Loss), Ending balance	17	209	17	209
Other [Member]
Accumulated Other Comprehensive Income (Loss) [Abstract]
Accumulated Other Comprehensive Income (Loss), Beginning Balance			2	2
Other comprehensive income (loss) for period, before reclassifications			0	0
Reclassification of losses (gains) to net income during period			0	0
Total other comprehensive income (loss) for period			0	0
Accumulated Other Comprehensive Income (Loss), Ending balance	2	2	2	2
Reclassification of Losses (Gains) out of Accumulated Other Comprehensive Income (Loss) [Member]
Accumulated Other Comprehensive Income (Loss) [Abstract]
Total	31	10	(18)	(39)
Reclassification of Losses (Gains) out of Accumulated Other Comprehensive Income (Loss) [Member] | Cash Flow Hedges [Member] | Interest Rate Derivatives [Member]
Accumulated Other Comprehensive Income (Loss) [Abstract]
Interest expense	(2)	1	(3)	15
Reclassification of Losses (Gains) out of Accumulated Other Comprehensive Income (Loss) [Member] | Cash Flow Hedges [Member] | Commodity Derivatives [Member]
Accumulated Other Comprehensive Income (Loss) [Abstract]
Revenue	58	35	7	(12)
Operating costs and expenses	$ (25)	$ (26)	$ (22)	$ (42)

Capital Accounts, Distributions

Capital Accounts, Distributions (Details) - USD ($) $ / shares in Units, $ in Millions		3 Months Ended	9 Months Ended
	Nov. 14, 2023	Sep. 30, 2023	Sep. 30, 2023	Sep. 30, 2022
Distributions to Partners [Abstract]
Cash payments made in connection with DERs			$ 29	$ 26
Forecast [Member] | Third Quarter 2023 Distribution [Member]
Distributions to Partners [Abstract]
Cash distributions paid	$ 1,100
Cash payments made in connection with DERs	$ 10
Cash Distribution [Member] | Third Quarter 2023 Distribution [Member]
Distributions to Partners [Abstract]
Distribution Per Common Unit (in dollars per unit)		$ 0.5
Annualized Distribution Per Common Unit (in dollars per unit)		$ 2

Revenues, Revenues by Business

Revenues, Revenues by Business Segment and Revenue Type (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Revenue [Abstract]
Revenues	$ 11,998	$ 15,468	$ 35,093	$ 44,536
NGL Pipelines & Services [Member]
Revenue [Abstract]
Revenues	3,757	6,237	12,375	18,371
NGL Pipelines & Services [Member] | Sales of NGLs and Related Products [Member]
Revenue [Abstract]
Revenues	3,021	5,519	10,325	16,139
NGL Pipelines & Services [Member] | Midstream Services [Member]
Revenue [Abstract]
Revenues	736	718	2,050	2,232
NGL Pipelines & Services [Member] | Midstream Services: Natural Gas Processing and Fractionation [Member]
Revenue [Abstract]
Revenues	344	340	944	1,143
NGL Pipelines & Services [Member] | Midstream Services: Transportation [Member]
Revenue [Abstract]
Revenues	286	250	798	708
NGL Pipelines & Services [Member] | Midstream Services: Storage and Terminals [Member]
Revenue [Abstract]
Revenues	106	128	308	381
Crude Oil Pipelines & Services [Member]
Revenue [Abstract]
Revenues	5,365	4,724	13,850	14,181
Crude Oil Pipelines & Services [Member] | Sales of Crude Oil [Member]
Revenue [Abstract]
Revenues	5,068	4,455	12,999	13,202
Crude Oil Pipelines & Services [Member] | Midstream Services [Member]
Revenue [Abstract]
Revenues	297	269	851	979
Crude Oil Pipelines & Services [Member] | Midstream Services: Transportation [Member]
Revenue [Abstract]
Revenues	194	162	549	650
Crude Oil Pipelines & Services [Member] | Midstream Services: Storage and Terminals [Member]
Revenue [Abstract]
Revenues	103	107	302	329
Natural Gas Pipelines & Services [Member]
Revenue [Abstract]
Revenues	884	1,886	2,874	4,696
Natural Gas Pipelines & Services [Member] | Sales of Natural Gas [Member]
Revenue [Abstract]
Revenues	537	1,556	1,828	3,795
Natural Gas Pipelines & Services [Member] | Midstream Services [Member]
Revenue [Abstract]
Revenues	347	330	1,046	901
Natural Gas Pipelines & Services [Member] | Midstream Services: Transportation [Member]
Revenue [Abstract]
Revenues	347	330	1,046	901
Petrochemical & Refined Products Services [Member]
Revenue [Abstract]
Revenues	1,992	2,621	5,994	7,288
Petrochemical & Refined Products Services [Member] | Sales of Petrochemicals and Refined Products [Member]
Revenue [Abstract]
Revenues	1,647	2,346	5,052	6,470
Petrochemical & Refined Products Services [Member] | Midstream Services [Member]
Revenue [Abstract]
Revenues	345	275	942	818
Petrochemical & Refined Products Services [Member] | Midstream Services: Fractionation and Isomerization [Member]
Revenue [Abstract]
Revenues	94	56	208	172
Petrochemical & Refined Products Services [Member] | Midstream Services: Transportation [Member]
Revenue [Abstract]
Revenues	171	149	486	426
Petrochemical & Refined Products Services [Member] | Midstream Services: Storage and Terminals [Member]
Revenue [Abstract]
Revenues	$ 80	$ 70	$ 248	$ 220

Revenues, Unbilled Revenue and

Revenues, Unbilled Revenue and Deferred Revenue (Details) - USD ($) $ in Millions	Sep. 30, 2023	Dec. 31, 2022
Contracts with Customers, Assets and Liabilities [Abstract]
Unbilled revenue	$ 12	$ 6
Deferred revenue	474	$ 501
Prepaid and other current assets [Member]
Contracts with Customers, Assets and Liabilities [Abstract]
Unbilled revenue (current amount)	12
Other current liabilities [Member]
Contracts with Customers, Assets and Liabilities [Abstract]
Deferred revenue (current amount)	159
Other long-term liabilities [Member]
Contracts with Customers, Assets and Liabilities [Abstract]
Deferred revenue (noncurrent)	$ 315

Revenues, Significant Changes i

Revenues, Significant Changes in Unbilled Revenue (Details) $ in Millions	9 Months Ended
	Sep. 30, 2023 USD ($)
Significant Changes in Unbilled Revenue
Balance at beginning of period	$ 6
Unbilled revenue included in opening balance transferred to other accounts during period	(6)	[1]
Unbilled revenue recorded during period	59	[2]
Unbilled revenue recorded during period transferred to other accounts	(47)	[1]
Other changes	0
Balance at end of period	$ 12
[1]Unbilled revenues are transferred to accounts receivable once we have an unconditional right to consideration from the customer.  Deferred revenues are recognized as revenue upon satisfaction of our performance obligation to the customer.[2]Unbilled revenue represents revenue that has been recognized upon satisfaction of a performance obligation, but cannot be contractually invoiced (or billed) to the customer at the balance sheet date until a future period.  Deferred revenue is recorded when payment is received from a customer prior to our satisfaction of the associated performance obligation.

Revenues, Significant Changes_2

Revenues, Significant Changes in Deferred Revenue (Details) $ in Millions	9 Months Ended
	Sep. 30, 2023 USD ($)
Significant Changes in Deferred Revenue
Balance at beginning of period	$ 501
Deferred revenue included in opening balance transferred to other accounts during period	(234)	[1]
Deferred revenue recorded during period	676	[2]
Deferred revenue recorded during period transferred to other accounts	(457)	[1]
Other changes	(12)
Balance at end of period	$ 474
[1]Unbilled revenues are transferred to accounts receivable once we have an unconditional right to consideration from the customer.  Deferred revenues are recognized as revenue upon satisfaction of our performance obligation to the customer.[2]Unbilled revenue represents revenue that has been recognized upon satisfaction of a performance obligation, but cannot be contractually invoiced (or billed) to the customer at the balance sheet date until a future period.  Deferred revenue is recorded when payment is received from a customer prior to our satisfaction of the associated performance obligation.

Revenues, Remaining Performance

Revenues, Remaining Performance Obligations (Details) $ in Millions	Sep. 30, 2023 USD ($)
Remaining Performance Obligation to be Recognized in the Future [Abstract]
Remaining performance obligation	$ 25,718
Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-10-01
Remaining Performance Obligation to be Recognized in the Future [Abstract]
Remaining performance obligation	$ 1,036
Expected timing of satisfaction, period	3 months
Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-01-01
Remaining Performance Obligation to be Recognized in the Future [Abstract]
Remaining performance obligation	$ 3,815
Expected timing of satisfaction, period	1 year
Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-01-01
Remaining Performance Obligation to be Recognized in the Future [Abstract]
Remaining performance obligation	$ 3,388
Expected timing of satisfaction, period	1 year
Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2026-01-01
Remaining Performance Obligation to be Recognized in the Future [Abstract]
Remaining performance obligation	$ 3,130
Expected timing of satisfaction, period	1 year
Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2027-01-01
Remaining Performance Obligation to be Recognized in the Future [Abstract]
Remaining performance obligation	$ 2,884
Expected timing of satisfaction, period	1 year
Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2028-01-01
Remaining Performance Obligation to be Recognized in the Future [Abstract]
Remaining performance obligation	$ 11,465
Expected timing of satisfaction, period

Business Segments and Related_3

Business Segments and Related Information (Details) $ in Millions		3 Months Ended		9 Months Ended
		Sep. 30, 2023 USD ($)	Sep. 30, 2022 USD ($)	Sep. 30, 2023 USD ($) Segment	Sep. 30, 2022 USD ($)
Business Segments [Abstract]
Number of reportable segments | Segment				4
Gross Operating Margin
Operating income		$ 1,695	$ 1,712	$ 5,008	$ 5,142
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]	566	524	1,644	1,569
Asset impairment charges in operating costs and expenses		11	29	27	48
Net losses (gains) attributable to asset sales and related matters in operating costs and expenses		0	1	(4)	3
General and administrative costs		59	55	172	179
Non-refundable payments received from shippers attributable to make-up rights	[2]	12	39	36	112
Subsequent recognition of revenues attributable to make-up rights	[3]	(23)	(18)	(68)	(63)
Total segment gross operating margin		$ 2,320	$ 2,342	$ 6,815	$ 6,990
[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.

Business Segments and Related_4

Business Segments and Related Information, Segment Reporting Information (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022	Dec. 31, 2022
Information by business segment [Abstract]
Segment gross operating margin	$ 2,320	$ 2,342	$ 6,815	$ 6,990
Revenues from third parties	11,980	15,448	35,049	44,481
Revenues from related parties	18	20	44	55
Intersegment and intrasegment revenues	0	0	0	0
Total revenues	11,998	15,468	35,093	44,536
Equity in income of unconsolidated affiliates	122	111	347	335
Property, plant and equipment, net	45,340		45,340		$ 44,401
Investments in unconsolidated affiliates	2,337		2,337		2,352
Intangible assets, net	3,821		3,821		3,965
Goodwill	5,608		5,608		5,608
Segment assets	57,106		57,106		56,326
NGL Pipelines & Services [Member]
Information by business segment [Abstract]
Total revenues	3,757	6,237	12,375	18,371
Equity in income of unconsolidated affiliates	32	39	101	109
Investments in unconsolidated affiliates	618		618		640
Intangible assets, net	839		839		865
Crude Oil Pipelines & Services [Member]
Information by business segment [Abstract]
Total revenues	5,365	4,724	13,850	14,181
Equity in income of unconsolidated affiliates	89	70	241	221
Investments in unconsolidated affiliates	1,684		1,684		1,677
Intangible assets, net	1,700		1,700		1,776
Natural Gas Pipelines & Services [Member]
Information by business segment [Abstract]
Total revenues	884	1,886	2,874	4,696
Equity in income of unconsolidated affiliates	1	2	4	4
Investments in unconsolidated affiliates	32		32		32
Intangible assets, net	1,170		1,170		1,206
Petrochemical & Refined Products Services [Member]
Information by business segment [Abstract]
Total revenues	1,992	2,621	5,994	7,288
Equity in income of unconsolidated affiliates	0	0	1	1
Investments in unconsolidated affiliates	3		3		3
Intangible assets, net	112		112		118
Reportable Business Segments [Member] | NGL Pipelines & Services [Member]
Information by business segment [Abstract]
Segment gross operating margin	1,196	1,296	3,518	3,848
Revenues from third parties	3,754	6,232	12,367	18,358
Revenues from related parties	3	5	8	13
Intersegment and intrasegment revenues	12,367	14,666	34,347	52,079
Total revenues	16,124	20,903	46,722	70,450
Equity in income of unconsolidated affiliates	32	39	101	109
Property, plant and equipment, net	17,468		17,468		17,283
Investments in unconsolidated affiliates	618		618		640
Intangible assets, net	839		839		865
Goodwill	2,811		2,811		2,811
Segment assets	21,736		21,736		21,599
Reportable Business Segments [Member] | Crude Oil Pipelines & Services [Member]
Information by business segment [Abstract]
Segment gross operating margin	432	415	1,251	1,237
Revenues from third parties	5,354	4,720	13,825	14,163
Revenues from related parties	11	4	25	18
Intersegment and intrasegment revenues	16,343	13,456	41,139	35,327
Total revenues	21,708	18,180	54,989	49,508
Equity in income of unconsolidated affiliates	89	70	241	221
Property, plant and equipment, net	6,671		6,671		6,760
Investments in unconsolidated affiliates	1,684		1,684		1,677
Intangible assets, net	1,700		1,700		1,776
Goodwill	1,841		1,841		1,841
Segment assets	11,896		11,896		12,054
Reportable Business Segments [Member] | Natural Gas Pipelines & Services [Member]
Information by business segment [Abstract]
Segment gross operating margin	239	278	791	727
Revenues from third parties	880	1,875	2,863	4,672
Revenues from related parties	4	11	11	24
Intersegment and intrasegment revenues	133	262	386	683
Total revenues	1,017	2,148	3,260	5,379
Equity in income of unconsolidated affiliates	1	2	4	4
Property, plant and equipment, net	9,821		9,821		9,721
Investments in unconsolidated affiliates	32		32		32
Intangible assets, net	1,170		1,170		1,206
Goodwill	0		0		0
Segment assets	11,023		11,023		10,959
Reportable Business Segments [Member] | Petrochemical & Refined Products Services [Member]
Information by business segment [Abstract]
Segment gross operating margin	453	353	1,255	1,178
Revenues from third parties	1,992	2,621	5,994	7,288
Revenues from related parties	0	0	0	0
Intersegment and intrasegment revenues	4,307	5,934	13,108	14,446
Total revenues	6,299	8,555	19,102	21,734
Equity in income of unconsolidated affiliates	0	0	1	1
Property, plant and equipment, net	9,374		9,374		7,770
Investments in unconsolidated affiliates	3		3		3
Intangible assets, net	112		112		118
Goodwill	956		956		956
Segment assets	10,445		10,445		8,847
Eliminations [Member]
Information by business segment [Abstract]
Revenues from third parties	0	0	0	0
Revenues from related parties	0	0	0	0
Intersegment and intrasegment revenues	(33,150)	(34,318)	(88,980)	(102,535)
Total revenues	(33,150)	(34,318)	(88,980)	(102,535)
Equity in income of unconsolidated affiliates	0	$ 0	0	$ 0
Adjustments [Member]
Information by business segment [Abstract]
Property, plant and equipment, net	2,006		2,006		2,867
Investments in unconsolidated affiliates	0		0		0
Intangible assets, net	0		0		0
Goodwill	0		0		0
Segment assets	$ 2,006		$ 2,006		$ 2,867

Business Segments and Related_5

Business Segments and Related Information, Consolidated Revenues and Expenses (Details) - USD ($) $ in Millions		3 Months Ended		9 Months Ended
		Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Consolidated Revenues [Abstract]
Total consolidated revenues		$ 11,998	$ 15,468	$ 35,093	$ 44,536
Operating costs and expenses:
Cost of sales	[1]	8,786	12,319	25,796	35,325
Other operating costs and expenses	[2]	986	926	2,749	2,567
Depreciation, amortization and accretion		583	537	1,692	1,607
Asset impairment charges		11	29	27	48
Net losses (gains) attributable to asset sales and related matters		0	1	(4)	3
General and administrative costs		59	55	172	179
Total consolidated costs and expenses		10,425	13,867	30,432	39,729
NGL Pipelines & Services [Member]
Consolidated Revenues [Abstract]
Total consolidated revenues		3,757	6,237	12,375	18,371
Crude Oil Pipelines & Services [Member]
Consolidated Revenues [Abstract]
Total consolidated revenues		5,365	4,724	13,850	14,181
Natural Gas Pipelines & Services [Member]
Consolidated Revenues [Abstract]
Total consolidated revenues		884	1,886	2,874	4,696
Petrochemical & Refined Products Services [Member]
Consolidated Revenues [Abstract]
Total consolidated revenues		$ 1,992	$ 2,621	$ 5,994	$ 7,288
[1]Cost of sales is a component of “Operating costs and expenses” as presented on our Unaudited Condensed Statements of Consolidated Operations.  Fluctuations in these amounts are primarily due to changes in energy commodity prices and sales volumes associated with our marketing activities.[2]Represents the cost of operating our plants, pipelines and other fixed assets excluding: depreciation, amortization and accretion charges; asset impairment charges; and net losses (gains) attributable to asset sales and related matters.

Earnings Per Unit (Details)

Earnings Per Unit (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions		3 Months Ended		9 Months Ended
		Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
BASIC EARNINGS PER COMMON UNIT
Net income attributable to common unitholders		$ 1,318	$ 1,360	$ 3,961	$ 4,067
Earnings allocated to phantom unit awards	[1]	(12)	(11)	(36)	(34)
Net income allocated to common unitholders		$ 1,306	$ 1,349	$ 3,925	$ 4,033
Basic weighted-average number of common units outstanding (in units)		2,172	2,179	2,173	2,179
Basic earnings per common unit (in dollars per unit)		$ 0.6	$ 0.62	$ 1.81	$ 1.85
DILUTED EARNINGS PER COMMON UNIT
Net income attributable to common unitholders		$ 1,318	$ 1,360	$ 3,961	$ 4,067
Net income attributable to preferred units		1	1	3	3
Net income attributable to limited partners		$ 1,319	$ 1,361	$ 3,964	$ 4,070
Diluted weighted-average number of units outstanding:
Distribution-bearing common units (in units)		2,172	2,179	2,173	2,179
Phantom units (in units)	[2]	20	18	20	19
Preferred units (in units)	[2]	2	2	2	2
Total (in units)		2,194	2,199	2,195	2,200
Diluted earnings per common unit (in dollars per unit)		$ 0.6	$ 0.62	$ 1.81	$ 1.85
[1]Phantom units are considered participating securities for purposes of computing basic earnings per unit. See Note 12 for information regarding the phantom units.[2]We use the “if-converted method” to determine the potential dilutive effect of the vesting of phantom unit awards and the conversion of preferred units outstanding.  See Note 12 for information regarding phantom unit awards.  See Note 8 for information regarding preferred units.

Equity-Based Awards (Details)

Equity-Based Awards (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Equity-based compensation expense [Abstract]
Total compensation expense	$ 43	$ 40	$ 129	$ 120
Phantom Unit Awards [Member]
Equity-based compensation expense [Abstract]
Total compensation expense	42	39	126	117
Profits Interest Awards [Member]
Equity-based compensation expense [Abstract]
Total compensation expense	$ 1	$ 1	$ 3	$ 3

Equity-Based Awards, Phantom Un

Equity-Based Awards, Phantom Unit Awards (Details) - USD ($) $ / shares in Units, $ in Millions		3 Months Ended		9 Months Ended
		Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Summary of awards activity, equity instruments other than options, additional disclosures [Abstract]
Cash payments made in connection with DERs				$ 29	$ 26
Phantom Unit Awards [Member]
Summary of awards activity, equity instruments other than options [Roll Forward]
Beginning of period (in units)				17,982,945
Granted (in units)	[1]			8,904,445
Vested (in units)				(6,761,823)
Forfeited (in units)				(459,279)
End of period (in units)		19,666,288		19,666,288
Phantom units outstanding, weighted-average grant date fair value [Roll Forward]
Weighted-average grant date fair value per unit, at beginning of period (in dollars per unit)	[2]			$ 23.94
Granted weighted-average grant date fair value per unit (in dollars per unit)	[1],[2]			25.8
Vested weighted-average grant date fair value per unit (in dollars per unit)	[2]			24.81
Forfeited weighted-average grant date fair value per unit (in dollars per unit)	[2]			24.52
Weighted-average grant date fair value per unit, at end of period (in dollars per unit)	[2]	$ 24.47		$ 24.47
Summary of awards activity, equity instruments other than options, additional disclosures [Abstract]
Aggregate grant date fair value				$ 230
Estimated forfeiture rate				2%
Cash payments made in connection with DERs		$ 10	$ 9	$ 29	26
Total intrinsic value of phantom unit awards that vested during period		5	$ 6	181	$ 155
Unrecognized Compensation Expense [Abstract]
Unrecognized compensation cost		225		$ 225
Recognition period for total unrecognized compensation cost				2 years 1 month 6 days
Phantom Unit Awards [Member] | Minimum [Member]
Summary of awards activity, equity instruments other than options, additional disclosures [Abstract]
Grant date market price of common units (in dollars per unit)				$ 25.8
Phantom Unit Awards [Member] | Maximum [Member]
Summary of awards activity, equity instruments other than options, additional disclosures [Abstract]
Grant date market price of common units (in dollars per unit)				$ 26.7
Phantom Unit Awards [Member] | Enterprise [Member]
Unrecognized Compensation Expense [Abstract]
Unrecognized compensation cost		$ 184		$ 184
[1]The aggregate grant date fair value of phantom unit awards issued during 2023 was $230 million based on a grant date market price of the Partnership’s common units ranging from $25.80 to $26.70 per unit.  An estimated annual forfeiture rate of 2.0% was applied to these awards.[2]Determined by dividing the aggregate grant date fair value of awards (before an allowance for forfeitures) by the number of awards issued.

Equity-Based Awards, Profits In

Equity-Based Awards, Profits Interest Awards (Details) - Profits Interest Awards [Member] - USD ($) $ / shares in Units, $ in Millions	Nov. 06, 2023	Sep. 30, 2023
Unrecognized Compensation Expense [Abstract]
Unrecognized compensation cost		$ 1
EPD 2018 Unit IV [Member] | Subsequent Event [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Employee partnership liquidation threshold (in dollars per unit)	$ 29.02
EPCO Unit II [Member] | Subsequent Event [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Employee partnership liquidation threshold (in dollars per unit)	$ 29.02

Hedging Activities and Fair V_3

Hedging Activities and Fair Value Measurements (Details) bbl in Millions, $ in Millions		1 Months Ended	9 Months Ended
		Jan. 31, 2023 USD ($)	Sep. 30, 2023 USD ($) TWh bbl Bcf	Sep. 30, 2022 USD ($)	Jan. 03, 2023 USD ($)	Dec. 31, 2022 USD ($)
Derivative [Line Items]
Carrying amount of hedged asset | $			$ 2			$ 12
Proceeds from the settlement of interest rate derivative instruments | $			$ 21	$ 0
Designated as Hedging Instrument [Member] | Treasury Lock [Member] | Derivatives in cash flow hedging relationships [Member]
Derivative [Line Items]
Proceeds from the settlement of interest rate derivative instruments | $		$ 21
Designated as Hedging Instrument [Member] | Treasury Lock - Fourth Quarter 2022 [Member] | Derivatives in cash flow hedging relationships [Member]
Derivative [Line Items]
Notional Amount | $						$ 750
Treasury rate, fixed rate						3.45%
Designated as Hedging Instrument [Member] | Treasury Lock - January 2023 [Member] | Derivatives in cash flow hedging relationships [Member]
Derivative [Line Items]
Notional Amount | $					$ 750
Treasury rate, fixed rate					4.165%
Designated as Hedging Instrument [Member] | Natural gas processing: Forecasted natural gas purchases for plant thermal reduction (PTR) [Member] | Derivatives in cash flow hedging relationships [Member] | Current [Member]
Derivative [Line Items]
Volume | Bcf	[1],[2]		0.3
Designated as Hedging Instrument [Member] | Natural gas processing: Forecasted sales of natural gas [Member] | Derivatives in cash flow hedging relationships [Member] | Current [Member]
Derivative [Line Items]
Volume | Bcf	[1],[2]		4.6
Designated as Hedging Instrument [Member] | Natural gas processing: Forecasted sales of NGLs [Member] | Derivatives in cash flow hedging relationships [Member] | Current [Member]
Derivative [Line Items]
Volume	[1],[2]		0.2
Designated as Hedging Instrument [Member] | Octane enhancement: Forecasted sales of octane enhancement products [Member] | Derivatives in cash flow hedging relationships [Member] | Current [Member]
Derivative [Line Items]
Volume	[1],[2]		4.7
Designated as Hedging Instrument [Member] | Octane enhancement: Forecasted sales of octane enhancement products [Member] | Derivatives in cash flow hedging relationships [Member] | Long-term [Member]
Derivative [Line Items]
Volume	[1],[2]		1.2
Designated as Hedging Instrument [Member] | Natural gas marketing: Forecasted purchases of natural gas [Member] | Derivatives in cash flow hedging relationships [Member] | Current [Member]
Derivative [Line Items]
Volume | Bcf	[1],[2]		2
Designated as Hedging Instrument [Member] | Natural gas marketing: Forecasted sales of natural gas [Member] | Derivatives in cash flow hedging relationships [Member] | Current [Member]
Derivative [Line Items]
Volume | Bcf	[1],[2]		1.7
Designated as Hedging Instrument [Member] | Natural gas marketing: Natural gas storage inventory management activities [Member] | Derivatives in fair value hedging relationships [Member] | Current [Member]
Derivative [Line Items]
Volume | Bcf	[1],[2]		0.8
Designated as Hedging Instrument [Member] | NGL marketing: Forecasted purchases of NGLs and related hydrocarbon products [Member] | Derivatives in cash flow hedging relationships [Member] | Current [Member]
Derivative [Line Items]
Volume	[1],[2]		82.2
Designated as Hedging Instrument [Member] | NGL marketing: Forecasted purchases of NGLs and related hydrocarbon products [Member] | Derivatives in cash flow hedging relationships [Member] | Long-term [Member]
Derivative [Line Items]
Volume	[1],[2]		7.6
Designated as Hedging Instrument [Member] | NGL marketing: Forecasted sales of NGLs and related hydrocarbon products [Member] | Derivatives in cash flow hedging relationships [Member] | Current [Member]
Derivative [Line Items]
Volume	[1],[2]		82.2
Designated as Hedging Instrument [Member] | NGL marketing: Forecasted sales of NGLs and related hydrocarbon products [Member] | Derivatives in cash flow hedging relationships [Member] | Long-term [Member]
Derivative [Line Items]
Volume	[1],[2]		10.6
Designated as Hedging Instrument [Member] | Refined products marketing: Forecasted purchases of refined products [Member] | Derivatives in cash flow hedging relationships [Member] | Current [Member]
Derivative [Line Items]
Volume	[1],[2]		0.3
Designated as Hedging Instrument [Member] | Refined products marketing: Forecasted sales of refined products [Member] | Derivatives in cash flow hedging relationships [Member] | Current [Member]
Derivative [Line Items]
Volume	[1],[2]		0.3
Designated as Hedging Instrument [Member] | Crude oil marketing: Forecasted purchases of crude oil [Member] | Derivatives in cash flow hedging relationships [Member] | Current [Member]
Derivative [Line Items]
Volume	[1],[2]		10.9
Designated as Hedging Instrument [Member] | Crude oil marketing: Forecasted sales of crude oil [Member] | Derivatives in cash flow hedging relationships [Member] | Current [Member]
Derivative [Line Items]
Volume	[1],[2]		13
Designated as Hedging Instrument [Member] | Crude oil marketing: Forecasted sales of crude oil [Member] | Derivatives in cash flow hedging relationships [Member] | Long-term [Member]
Derivative [Line Items]
Volume	[1],[2]		1.1
Designated as Hedging Instrument [Member] | Petrochemical marketing: Forecasted purchases of petrochemical products [Member] | Derivatives in cash flow hedging relationships [Member] | Current [Member]
Derivative [Line Items]
Volume	[1],[2]		4.4
Designated as Hedging Instrument [Member] | Petrochemical marketing: Forecasted sales of petrochemical products [Member] | Derivatives in cash flow hedging relationships [Member] | Current [Member]
Derivative [Line Items]
Volume	[1],[2]		0.5
Designated as Hedging Instrument [Member] | Commercial energy: Forecasted purchases of power related to asset operations [Member] | Derivatives in cash flow hedging relationships [Member] | Current [Member]
Derivative [Line Items]
Volume | TWh	[1],[2]		1.4
Designated as Hedging Instrument [Member] | Commercial energy: Forecasted purchases of power related to asset operations [Member] | Derivatives in cash flow hedging relationships [Member] | Long-term [Member]
Derivative [Line Items]
Volume | TWh	[1],[2]		1.9
Not Designated as Hedging Instrument [Member] | Natural gas risk management activities [Member] | Derivatives in mark-to-market relationships [Member] | Current [Member]
Derivative [Line Items]
Volume | Bcf	[1],[2],[3]		21
Not Designated as Hedging Instrument [Member] | Natural gas risk management activities [Member] | Derivatives in mark-to-market relationships [Member] | Long-term [Member]
Derivative [Line Items]
Volume | Bcf	[1],[2],[3]		1.6
Not Designated as Hedging Instrument [Member] | NGL risk management activities [Member] | Derivatives in mark-to-market relationships [Member] | Current [Member]
Derivative [Line Items]
Volume	[1],[2],[3]		22
Not Designated as Hedging Instrument [Member] | NGL risk management activities [Member] | Derivatives in mark-to-market relationships [Member] | Long-term [Member]
Derivative [Line Items]
Volume	[1],[2],[3]		5.4
Not Designated as Hedging Instrument [Member] | Refined products risk management activities [Member] | Derivatives in mark-to-market relationships [Member] | Current [Member]
Derivative [Line Items]
Volume	[1],[2],[3]		3.1
Not Designated as Hedging Instrument [Member] | Crude oil risk management activities [Member] | Derivatives in mark-to-market relationships [Member] | Current [Member]
Derivative [Line Items]
Volume	[1],[2],[3]		91.1
Not Designated as Hedging Instrument [Member] | Crude oil risk management activities [Member] | Derivatives in mark-to-market relationships [Member] | Long-term [Member]
Derivative [Line Items]
Volume	[1],[2],[3]		46.8
[1]The maximum term for derivatives designated as cash flow hedges, derivatives designated as fair value hedges and derivatives not designated as hedging instruments is December 2025, February 2024 and December 2025, respectively.[2]Volume for derivatives designated as hedging instruments reflects the total amount of volumes hedged whereas volume for derivatives not designated as hedging instruments reflects the absolute value of derivative notional volumes.[3]Reflects the use of derivative instruments to manage risks associated with our transportation, processing and storage assets.

Hedging Activities and Fair V_4

Hedging Activities and Fair Value Measurements, Derivative Fair Value Amounts (Details) - USD ($) $ in Millions	Sep. 30, 2023	Dec. 31, 2022
Interest rate derivatives [Member]
Derivatives, Fair Value [Line Items]
Asset Derivatives		$ 26
Commodity derivatives [Member]
Derivatives, Fair Value [Line Items]
Asset Derivatives	$ 533	486
Liability Derivatives	559	412
Derivatives designated as hedging instruments [Member]
Derivatives, Fair Value [Line Items]
Asset Derivatives	178	491
Liability Derivatives	200	374
Derivatives designated as hedging instruments [Member] | Interest rate derivatives [Member] | Current assets [Member]
Derivatives, Fair Value [Line Items]
Asset Derivatives	0	26
Derivatives designated as hedging instruments [Member] | Interest rate derivatives [Member] | Current liabilities [Member]
Derivatives, Fair Value [Line Items]
Liability Derivatives	0	0
Derivatives designated as hedging instruments [Member] | Commodity derivatives [Member]
Derivatives, Fair Value [Line Items]
Asset Derivatives	178	465
Liability Derivatives	200	374
Derivatives designated as hedging instruments [Member] | Commodity derivatives [Member] | Current assets [Member]
Derivatives, Fair Value [Line Items]
Asset Derivatives	136	422
Derivatives designated as hedging instruments [Member] | Commodity derivatives [Member] | Other assets [Member]
Derivatives, Fair Value [Line Items]
Asset Derivatives	42	43
Derivatives designated as hedging instruments [Member] | Commodity derivatives [Member] | Current liabilities [Member]
Derivatives, Fair Value [Line Items]
Liability Derivatives	148	316
Derivatives designated as hedging instruments [Member] | Commodity derivatives [Member] | Other liabilities [Member]
Derivatives, Fair Value [Line Items]
Liability Derivatives	52	58
Derivatives not designated as hedging instruments [Member]
Derivatives, Fair Value [Line Items]
Asset Derivatives	355	21
Liability Derivatives	359	38
Derivatives not designated as hedging instruments [Member] | Commodity derivatives [Member]
Derivatives, Fair Value [Line Items]
Asset Derivatives	355	21
Liability Derivatives	359	38
Derivatives not designated as hedging instruments [Member] | Commodity derivatives [Member] | Current assets [Member]
Derivatives, Fair Value [Line Items]
Asset Derivatives	273	21
Derivatives not designated as hedging instruments [Member] | Commodity derivatives [Member] | Other assets [Member]
Derivatives, Fair Value [Line Items]
Asset Derivatives	82	0
Derivatives not designated as hedging instruments [Member] | Commodity derivatives [Member] | Current liabilities [Member]
Derivatives, Fair Value [Line Items]
Liability Derivatives	279	38
Derivatives not designated as hedging instruments [Member] | Commodity derivatives [Member] | Other liabilities [Member]
Derivatives, Fair Value [Line Items]
Liability Derivatives	$ 80	$ 0

Hedging Activities and Fair V_5

Hedging Activities and Fair Value Measurements, Asset Balance Sheet Offsetting (Details) - USD ($) $ in Millions	Sep. 30, 2023	Dec. 31, 2022
Interest rate derivatives [Member]
Offsetting Assets [Line Items]
Gross Amounts of Recognized Assets		$ 26
Gross Amounts Offset in the Balance Sheet		0
Amounts of Assets Presented in the Balance Sheet		26
Financial Instruments		0
Cash Collateral Received		0
Cash Collateral Paid		0
Amounts That Would Have Been Presented On Net Basis		26
Commodity Derivatives [Member]
Offsetting Assets [Line Items]
Gross Amounts of Recognized Assets	$ 533	486
Gross Amounts Offset in the Balance Sheet	0	0
Amounts of Assets Presented in the Balance Sheet	533	486
Financial Instruments	(532)	(411)
Cash Collateral Received	0	0
Cash Collateral Paid	0	(74)
Amounts That Would Have Been Presented On Net Basis	$ 1	$ 1

Hedging Activities and Fair V_6

Hedging Activities and Fair Value Measurements, Liability Balance Sheet Offsetting (Details) - Commodity Derivatives [Member] - USD ($) $ in Millions	Sep. 30, 2023	Dec. 31, 2022
Offsetting Liabilities [Line Items]
Gross Amounts of Recognized Liabilities	$ 559	$ 412
Gross Amounts Offset in the Balance Sheet	0	0
Amounts of Liabilities Presented in the Balance Sheet	559	412
Financial Instruments	(532)	(411)
Cash Collateral Received	0	0
Cash Collateral Paid	(27)	0
Amounts That Would Have Been Presented On Net Basis	$ 0	$ 1

Hedging Activities and Fair V_7

Hedging Activities and Fair Value Measurements, Gains and Losses on Derivative Instruments and Related Hedged Items (Details) - USD ($) $ in Millions		3 Months Ended		9 Months Ended
		Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Derivatives in fair value hedging relationships [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Gain (Loss) Recognized in Income on Derivative		$ 1	$ 8	$ 5	$ (116)
Gain (Loss) Recognized in Income on Hedged Item		(7)	41	(5)	66
Derivatives in fair value hedging relationships [Member] | Commodity derivatives [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Gain (Loss) Recognized in Income on Derivative		$ 1	$ 8	$ 5	$ (116)
Derivative, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]		Revenues	Revenues	Revenues	Revenues
Derivatives in fair value hedging relationships [Member] | Commodity derivatives [Member] | Revenue [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Gain (Loss) Recognized in Income on Hedged Item		$ (7)	$ 41	$ (5)	$ 66
Derivatives in cash flow hedging relationships [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Change in Value Recognized in Other Comprehensive Income (Loss) on Derivative		(96)	186	(144)	126
Gain (Loss) Reclassified from Accumulated Other Comprehensive Income (Loss) to Income		(31)	(10)	18	39
Derivatives in cash flow hedging relationships [Member] | Interest rate derivatives [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Change in Value Recognized in Other Comprehensive Income (Loss) on Derivative		0	0	(5)	0
Gain (Loss) Reclassified from Accumulated Other Comprehensive Income (Loss) to Income		$ 2	$ (1)	$ 3	$ (15)
Derivative Instrument, Gain (Loss) Reclassified from AOCI into Income, Effective Portion, Statement of Income or Comprehensive Income [Extensible Enumeration]		Interest expense	Interest expense	Interest expense	Interest expense
Accumulated other comprehensive income related to interest rate derivative instruments expected to be reclassified to earnings in interest expense over the next twelve months		$ 9		$ 9
Derivatives in cash flow hedging relationships [Member] | Commodity derivatives [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Net accumulated other comprehensive income (loss) related to commodity derivative instruments expected to be reclassified to earnings over the next twelve months		18		18
Accumulated other comprehensive income (loss) related to commodity derivative instruments expected to be reclassified to revenue over the next twelve months		35		35
Accumulated other comprehensive income (loss) related to commodity derivative instruments expected to be reclassified to operating costs and expenses over the next twelve months		(17)		(17)
Derivatives in cash flow hedging relationships [Member] | Commodity derivatives [Member] | Revenue [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Change in Value Recognized in Other Comprehensive Income (Loss) on Derivative	[1]	(129)	$ 176	(160)	$ 78
Gain (Loss) Reclassified from Accumulated Other Comprehensive Income (Loss) to Income		(58)	(35)	(7)	12
Derivatives in cash flow hedging relationships [Member] | Commodity derivatives [Member] | Operating costs and expenses [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Change in Value Recognized in Other Comprehensive Income (Loss) on Derivative	[1]	33	10	21	48
Gain (Loss) Reclassified from Accumulated Other Comprehensive Income (Loss) to Income		25	26	22	42
Derivatives not designated as hedging instruments [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Gain (Loss) Recognized in Income on Derivative		(27)	39	190	91
Derivatives not designated as hedging instruments [Member] | Commodity derivatives [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Realized gains (losses)				240
Unrealized gains (losses)				(50)
Derivatives not designated as hedging instruments [Member] | Commodity derivatives [Member] | Revenue [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Gain (Loss) Recognized in Income on Derivative		(27)	32	190	77
Derivatives not designated as hedging instruments [Member] | Commodity derivatives [Member] | Operating costs and expenses [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Gain (Loss) Recognized in Income on Derivative		$ 0	$ 7	$ 0	$ 14
[1]The fair value of these derivative instruments will be reclassified to their respective locations on the Unaudited Condensed Statement of Consolidated Operations when the forecasted transactions affect earnings.

Hedging Activities and Fair V_8

Hedging Activities and Fair Value Measurements, Recurring Fair Value Measurements (Details) - Fair Value, Measurements, Recurring [Member] - USD ($) $ in Millions	Sep. 30, 2023	Dec. 31, 2022
Financial assets [Abstract]
Interest rate derivatives		$ 26
Value before application of CME Rule 814	$ 794	1,336
Impact of CME Rule 814	(261)	(850)
Total commodity derivatives	533	486
Total	533	512
Commodity derivatives:
Value before application of CME Rule 814	902	1,213
Impact of CME Rule 814	(343)	(801)
Total commodity derivatives	559	412
Total	559	412
Net value before application of CME Rule 814 to commodity hedging portfolio	(108)
Level 1 [Member]
Financial assets [Abstract]
Interest rate derivatives		0
Value before application of CME Rule 814	391	166
Impact of CME Rule 814	(46)	(161)
Total commodity derivatives	345	5
Total	345	5
Commodity derivatives:
Value before application of CME Rule 814	447	95
Impact of CME Rule 814	(115)	(90)
Total commodity derivatives	332	5
Total	332	5
Level 2 [Member]
Financial assets [Abstract]
Interest rate derivatives		26
Value before application of CME Rule 814	403	1,170
Impact of CME Rule 814	(215)	(689)
Total commodity derivatives	188	481
Total	188	507
Commodity derivatives:
Value before application of CME Rule 814	455	1,118
Impact of CME Rule 814	(228)	(711)
Total commodity derivatives	227	407
Total	227	407
Level 3 [Member]
Financial assets [Abstract]
Interest rate derivatives		0
Value before application of CME Rule 814	0	0
Impact of CME Rule 814	0	0
Total commodity derivatives	0	0
Total	0	0
Commodity derivatives:
Value before application of CME Rule 814	0	0
Impact of CME Rule 814	0	0
Total commodity derivatives	0	0
Total	$ 0	$ 0

Hedging Activities and Fair V_9

Hedging Activities and Fair Value Measurements, Other Fair Value Measurements (Details) - USD ($) $ in Billions	Sep. 30, 2023	Dec. 31, 2022
Carrying Value [Member]
Financial Liabilities: [Abstract]
Fixed Rate Debt Principal Amount Fair Value Disclosure	$ 28	$ 27.5
Level 2 [Member] | Fair Value [Member]
Financial Liabilities: [Abstract]
Fixed Rate Debt Principal Amount Fair Value Disclosure	$ 24.5	$ 24.2

Related Party Transactions (Det

Related Party Transactions (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022	Dec. 31, 2022
Revenues - related parties:
Total revenue - related parties	$ 18	$ 20	$ 44	$ 55
Costs and expenses - related parties:
Operating costs and expenses	357	353	1,014	1,005
General and administrative expenses	41	36	113	111
Total costs and expenses - related parties	398	389	1,127	1,116
Related Party [Member]
Costs and expenses - related parties:
Total accounts receivable - related parties	5		5		$ 11
Total accounts payable - related parties	148		148		232
EPCO and its privately held affiliates [Member]
Costs and expenses - related parties:
Total costs and expenses - related parties	347	334	992	940
Total accounts receivable - related parties	0		0		1
Total accounts payable - related parties	134		134		221
Distributions:
Total cash distributions			1,000	955
EPCO and its privately held affiliates [Member] | Administrative Services Agreement [Member]
Costs and expenses - related parties:
Operating costs and expenses	305	295	873	821
General and administrative expenses	36	34	102	106
Total costs and expenses - related parties	341	329	975	927
EPCO and its privately held affiliates [Member] | Related Party Operating Leases [Member]
Costs and expenses - related parties:
Total costs and expenses - related parties	$ 3	3	$ 10	10
EPCO and its privately held affiliates [Member] | Common Units [Member]
Relationship with Affiliates [Abstract]
Total Number of Units (in units)	702,197,607		702,197,607
Percentage of total units outstanding	32.30%		32.30%
Enterprise common units pledged as security (in units)	62,976,464		62,976,464
Unconsolidated affiliates [Member]
Revenues - related parties:
Total revenue - related parties	$ 18	20	$ 44	55
Costs and expenses - related parties:
Total costs and expenses - related parties	51	$ 55	135	$ 176
Total accounts receivable - related parties	5		5		10
Total accounts payable - related parties	$ 14		$ 14		$ 11

Income Taxes, Reconciliation (D

Income Taxes, Reconciliation (Details) - USD ($) $ in Millions		3 Months Ended		9 Months Ended
		Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Reconciliation of the provision for income taxes [Abstract]
Pre-Tax Net Book Income ("NBI")		$ 1,372	$ 1,410	$ 4,100	$ 4,217
Texas Margin Tax	[1]	(17)	(10)	(33)	(29)
State income tax provision, net of federal benefit		0	0	(1)	(1)
Federal income tax provision computed by applying the federal statutory rate to NBI of corporate entities		(5)	(4)	(11)	(11)
Other		0	(4)	0	(13)
Total provision for income taxes		$ (22)	$ (18)	$ (45)	$ (54)
Effective income tax rate		(1.60%)	(1.30%)	(1.10%)	(1.30%)
[1]Although the Texas Margin Tax is not considered a state income tax, it has the characteristics of an income tax since it is determined by applying a tax rate to a base that considers our Texas-sourced revenues and expenses.

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Millions		3 Months Ended		9 Months Ended
		Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022	Dec. 31, 2022
Current portion of income tax provision:
Federal		$ (1)	$ (1)	$ (11)	$ (1)
State		(8)	(9)	(29)	(26)
Foreign		0	0	0	(3)
Total current portion		(9)	(10)	(40)	(30)
Deferred portion of income tax provision:
Federal		(4)	(6)	0	(19)
State		(9)	(2)	(5)	(5)
Total deferred portion		(13)	(8)	(5)	(24)
Total provision for income taxes		(22)	$ (18)	(45)	$ (54)
Deferred tax liabilities:
Attributable to investment in OTA		432		432		$ 406
Attributable to property, plant and equipment		137		137		133
Attributable to investments in other entities		5		5		5
Other		59		59		60
Total deferred tax liabilities		633		633		604
Deferred tax assets:
Net operating loss carryovers	[1]	46		46		22
Temporary differences related to Texas Margin Tax		4		4		4
Total deferred tax assets		50		50		26
Valuation allowance		22		22		22
Total deferred tax assets, net of valuation allowance		28		28		4
Total net deferred tax liabilities		$ 605		$ 605		$ 600
[1]The loss amount presented as of September 30, 2023 has an indefinite carryover period.  All losses are subject to limitations on their utilization.

Commitments and Contingent Li_3

Commitments and Contingent Liabilities (Details) - USD ($) $ in Millions	Sep. 30, 2023	Dec. 31, 2022
Scheduled maturities of debt obligations [Abstract]
Principal amount of consolidated debt obligations outstanding	$ 29,191	$ 28,566

Commitments and Contingent Li_4

Commitments and Contingent Liabilities, Operating Leases (Details) $ in Millions	Sep. 30, 2023 USD ($)
Operating Leases [Abstract]
ROU asset carrying value	$ 375	[1]
ROU asset, Consolidated Balance Sheet line item	Other Assets, Noncurrent
Lease liability carrying value	$ 411	[2]
Lease liability, current	$ 73
Lease liability, current, Consolidated Balance Sheet line item	Other Liabilities, Current
Lease liability, noncurrent	$ 338
Lease liability, noncurrent, Consolidated Balance Sheet line item	Other Liabilities, Noncurrent
Storage and Pipeline Facilities [Member]
Operating Leases [Abstract]
ROU asset carrying value	$ 206	[1]
Lease liability carrying value	$ 206	[2]
Weighted-average remaining term	9 years
Weighted-average discount rate	4.10%	[3]
Transportation Equipment [Member]
Operating Leases [Abstract]
ROU asset carrying value	$ 15	[1]
Lease liability carrying value	$ 17	[2]
Weighted-average remaining term	4 years
Weighted-average discount rate	4.20%	[3]
Office and Warehouse Space [Member]
Operating Leases [Abstract]
ROU asset carrying value	$ 154	[1]
Lease liability carrying value	$ 188	[2]
Weighted-average remaining term	13 years
Weighted-average discount rate	3%	[3]
[1]Right of use (“ROU”) asset amounts are a component of “ Other assets Other current liabilities Other long-term liabilities Leases

Commitments and Contingent Li_5

Commitments and Contingent Liabilities, Consolidated Lease Expense (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Consolidated Lease Expense [Abstract]
Non-cash lease expense (amortization of ROU assets)	$ 18	$ 16	$ 51	$ 43
Related accretion expense on lease liability balances	4	3	11	9
Total fixed lease expense	22	19	62	52
Variable lease expense	3	3	9	4
Subtotal operating lease expense	25	22	71	56
Short-term operating leases	30	25	82	65
Total operating lease expense	55	47	153	121
Cash payments for operating lease liabilities	21	19	62	47
Operating lease income	$ 4	$ 4	$ 12	$ 10

Supplemental Cash Flow Inform_3

Supplemental Cash Flow Information (Details) - USD ($) $ in Millions		3 Months Ended		9 Months Ended		12 Months Ended
		Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022	Dec. 31, 2022
Decrease (increase) in:
Accounts receivable - trade				$ 36	$ 365
Accounts receivable - related parties				4	(9)
Inventories				(766)	(475)
Prepaid and other current assets				(665)	272
Other assets				31	54
Increase (decrease) in:
Accounts payable - trade				67	(134)
Accounts payable - related parties				(84)	(12)
Accrued product payables				457	(216)
Accrued interest				(189)	(233)
Other current liabilities				467	(220)
Other long-term liabilities				(64)	(74)
Net effect of changes in operating accounts				(706)	(682)
Cash payments for interest, net of $86 and $60 capitalized during the nine months ended September 30, 2023, and 2022 respectively				1,123	1,141
Capitalized interest	[1]	$ 17	$ 22	86	60
Cash payments for federal and state income taxes				22	0
Liability for construction in progress expenditures				371		$ 238
Business Acquisition [Line Items]
Cash used for business combinations, net of cash received				$ 0	(3,204)
Navitas Midstream Partners, LLC [Member]
Business Acquisition [Line Items]
Cash used for business combinations, net of cash received					$ (3,200)
[1]We capitalize interest costs incurred on funds used to construct property, plant and equipment while the asset is in its construction phase.  The capitalized interest is recorded as part of the asset to which it relates and is amortized over the asset’s estimated useful life as a component of depreciation expense.  When capitalized interest is recorded, it reduces interest expense from what it would be otherwise.