Magellan Midstream Partners (MMP) 10-Q 3 Aug 23 2023 Q2 Quarterly report Financial data

Cover Page

Cover Page - shares	6 Months Ended
	Jun. 30, 2023	Aug. 02, 2023
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2023
Document Transition Report	false
Entity File Number	1-16335
Entity Registrant Name	Magellan Midstream Partners, L.P.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	73-1599053
Entity Address, Address Line One	One Williams Center
Entity Address, Address Line Two	P.O. Box 22186
Entity Address, City or Town	Tulsa
Entity Address, State or Province	OK
Entity Address, Postal Zip Code	74121-2186
City Area Code	918
Local Phone Number	574-7000
Title of 12(b) Security	Common Units
Trading Symbol	MMP
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		202,095,600
Amendment Flag	false
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	Q2
Entity Central Index Key	0001126975
Current Fiscal Year End Date	--12-31

Consolidated Statements Of Inco

Consolidated Statements Of Income - USD ($) shares in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Total revenue	$ 877.2	$ 788.6	$ 1,746.9	$ 1,463.3
Costs and expenses:
Operating	170.1	180.1	304	304.3
Cost of product sales	296.4	282.3	616.5	525.7
Depreciation, amortization and impairment	56.6	58.8	112.4	116.5
General and administrative	74.5	56.9	134.9	119.7
Total costs and expenses	597.6	578.1	1,167.8	1,066.2
Other operating income (expense)	(0.5)	3	5.3	1
Earnings of non-controlled entities	15.9	26.5	42.1	61.9
Operating profit	295	240	626.5	460
Interest expense	57.2	57.8	114.9	115.1
Interest capitalized	(0.9)	(0.3)	(1.5)	(0.7)
Interest income	(1.5)	(0.2)	(2.5)	(0.3)
Gain on disposition of assets	(1.1)	0	(1.1)	(0.2)
Other (income) expense	1	0.6	1.6	1.2
Income from continuing operations before provision for income taxes	240.3	182.1	515.1	344.9
Provision for income taxes	1.6	0.3	2.5	1.1
Income from continuing operations	238.7	181.8	512.6	343.8
Income from discontinued operations (including gain on disposition of assets of $162.4 million in June 2022)	0	172.1	0	175.6
Net income	$ 238.7	$ 353.9	$ 512.6	$ 519.4
Earnings per common unit
Basic income from continuing operations per common unit (in dollars per share)	$ 1.18	$ 0.86	$ 2.52	$ 1.62
Basic income from discontinued operations per common unit (in dollars per share)	0	0.81	0	0.83
Basic net income per common unit (in dollars per share)	$ 1.18	$ 1.67	$ 2.52	$ 2.45
Weighted average number of common units outstanding used for basic net income per unit calculation (in shares)	202.9	211.6	203.4	212.3
Diluted income from continuing operations per common unit (in dollars per share)	$ 1.18	$ 0.86	$ 2.52	$ 1.62
Diluted income from discontinued operations per common unit (in dollars per share)	0	0.81	0	0.83
Diluted net income per common unit (in dollars per share)	$ 1.18	$ 1.67	$ 2.52	$ 2.45
Weighted average number of common units outstanding used for diluted net income per unit calculation (in shares)	203.1	211.7	203.5	212.3
Transportation and terminals revenue
Total revenue	$ 503.2	$ 469.3	$ 957.3	$ 892.2
Product sales revenue
Total revenue	368.7	313.7	778.8	559.8
Affiliate management fee revenue
Total revenue	$ 5.3	$ 5.6	$ 10.8	$ 11.3

Consolidated Statements Of Comp

Consolidated Statements Of Comprehensive Income - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Statement of Comprehensive Income [Abstract]
Net income	$ 238.7	$ 353.9	$ 512.6	$ 519.4
Other comprehensive income:
Reclassification of net loss on cash flow hedges to income	0.9	0.9	1.8	1.8
Net actuarial gain (loss)	(2.6)	1.1	(2.6)	1.1
Recognition of prior service credit amortization in income	(0.1)	(0.1)	(0.1)	(0.1)
Recognition of actuarial loss amortization in income	0.5	1.2	0.9	2.4
Total other comprehensive income (loss)	(1.3)	3.1	0	5.2
Comprehensive income	$ 237.4	$ 357	$ 512.6	$ 524.6

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Millions	Jun. 30, 2023	Dec. 31, 2022
Current assets:
Cash and cash equivalents	$ 128.4	$ 2
Trade accounts receivable	169.5	219.9
Other accounts receivable	34.8	44.4
Inventories	330.1	356.2
Commodity derivatives contracts, net	6.1	6.5
Commodity derivatives deposits	16.2	14.8
Assets held for sale	9.9	9.9
Other current assets	42.3	56.8
Total current assets	737.3	710.5
Property, plant and equipment	8,266.9	8,163.9
Less: accumulated depreciation	2,440.7	2,333.6
Net property, plant and equipment	5,826.2	5,830.3
Investments in non-controlled entities	859.3	894
Right-of-use asset, operating leases	95.4	149.4
Long-term receivables	8.1	8.3
Goodwill	50.4	50.4
Other intangibles (less accumulated amortization of $14.7 and $16.1 at December 31, 2022 and June 30, 2023, respectively)	39.6	41
Restricted cash	0	4.9
Other noncurrent assets	12.9	18.9
Total assets	7,629.2	7,707.7
Current liabilities:
Accounts payable	137.7	108.2
Accrued payroll and benefits	54.2	76.8
Accrued interest payable	59	59
Accrued taxes other than income	65.3	86
Deferred revenue	94.1	103.9
Accrued product liabilities	209.6	209.3
Commodity derivatives contracts, net	13.2	15.4
Current portion of operating lease liability	21.3	31
Other current liabilities	26.7	35.9
Total current liabilities	681.1	725.5
Long-term debt, net	4,984.1	5,015
Long-term operating lease liability	76.7	116.9
Long-term pension and benefits	91.6	87.4
Other noncurrent liabilities	81.2	78
Commitments and contingencies
Partners’ capital:
Common unitholders (203.0 units and 202.1 units outstanding at December 31, 2022 and June 30, 2023, respectively)	1,808.4	1,778.8
Accumulated other comprehensive loss	(93.9)	(93.9)
Total partners’ capital	1,714.5	1,684.9
Total liabilities and partners’ capital	$ 7,629.2	$ 7,707.7

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Millions	Jun. 30, 2023	Dec. 31, 2022
Statement of Financial Position [Abstract]
Finite-lived intangible assets, accumulated amortization	$ 16.1	$ 14.7
Limited partner unitholders, units outstanding (in shares)	202,095,600	203,033,837

Consolidated Statements Of Cash

Consolidated Statements Of Cash Flows - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Operating Activities:
Net income	$ 512.6	$ 519.4
Adjustments to reconcile net income to net cash provided by operating activities:
Income from discontinued operations	0	(175.6)
Other Depreciation and Amortization	113.6	116.5
Gain on disposition of assets	(1.1)	(0.2)
Earnings of non-controlled entities	(42.1)	(61.9)
Distributions from operations of non-controlled entities	76.8	78.9
Equity-based incentive compensation expense	14.2	22.9
Settlement cost, amortization of prior service credit and actuarial loss	0.8	2.3
Changes in operating assets and liabilities:
Trade accounts receivable and other accounts receivable	60	(10)
Inventories	26.1	(47.9)
Accounts payable	26.5	6.1
Accrued payroll and benefits	(22.6)	(16.9)
Accrued taxes other than income	(20.7)	(12.9)
Accrued product liabilities	0.3	33.1
Deferred revenue	(9.8)	(6.6)
Other current and noncurrent assets and liabilities	21.4	(73.4)
Net cash provided by operating activities of continuing operations	756	373.8
Net cash provided by operating activities of discontinued operations	0	23.5
Net cash provided by operating activities	756	397.3
Investing Activities:
Additions to property, plant and equipment, net	(95.3)	(86.1)
Proceeds from disposition of assets	1.1	0.2
Investments in non-controlled entities	0	(0.9)
Net cash used by investing activities of continuing operations	(94.2)	(86.8)
Net cash provided by investing activities of discontinued operations	0	448.4
Net cash provided (used) by investing activities	(94.2)	361.6
Financing Activities:
Distributions paid	(424.7)	(440.1)
Repurchases of common units, net	(73.7)	(219)
Net commercial paper payments	(32)	(89)
Payments associated with settlement of equity-based incentive compensation	(9.9)	(8.9)
Net cash used by financing activities	(540.3)	(757)
Change in cash, cash equivalents and restricted cash	121.5	1.9
Cash, cash equivalents and restricted cash at beginning of period	6.9	9
Cash, cash equivalents and restricted cash at end of period	128.4	10.9
Supplemental non-cash investing and financing activities:
Additions to property, plant and equipment	(108.3)	(85.3)
Changes in current liabilities related to capital expenditures	13	(0.8)
Additions to property, plant and equipment, net	(95.3)	(86.1)
Repurchases of common units	(64.3)	(239.6)
Changes in accounts payable related to repurchases of common units	(9.4)	20.6
Repurchases of common units, net	$ (73.7)	$ (219)

Consolidated Statements of Part

Consolidated Statements of Partners' Capital - USD ($) $ in Millions	Total	Common Unitholders	Accumulated Other Comprehensive Loss
Beginning balance at Dec. 31, 2021	$ 1,899.8	$ 2,054.8	$ (155)
Comprehensive income:
Net income	519.4	519.4
Total other comprehensive income	5.2		5.2
Total comprehensive income	524.6	519.4	5.2
Distributions	(440.1)	(440.1)
Repurchases of common units	(239.6)	(239.6)
Equity-based incentive compensation expense	22.9	22.9
Issuance of common units in settlement of equity-based incentive plan awards	1.1	1.1
Payments associated with settlement of equity-based incentive compensation	(8.9)	(8.9)
Other	(0.4)	(0.4)
Ending balance at Jun. 30, 2022	1,759.4	1,909.2	(149.8)
Beginning balance at Mar. 31, 2022	1,802.7	1,955.6	(152.9)
Comprehensive income:
Net income	353.9	353.9
Total other comprehensive income	3.1		3.1
Total comprehensive income	357	353.9	3.1
Distributions	(219.5)	(219.5)
Repurchases of common units	(189.6)	(189.6)
Equity-based incentive compensation expense	8.5	8.5
Issuance of common units in settlement of equity-based incentive plan awards	0.4	0.4
Other	(0.1)	(0.1)
Ending balance at Jun. 30, 2022	1,759.4	1,909.2	(149.8)
Beginning balance at Dec. 31, 2022	1,684.9	1,778.8	(93.9)
Comprehensive income:
Net income	512.6	512.6
Total other comprehensive income	0
Total comprehensive income	512.6	512.6	0
Distributions	(424.7)	(424.7)
Repurchases of common units	(64.3)	(64.3)
Equity-based incentive compensation expense	14.2	14.2
Issuance of common units in settlement of equity-based incentive plan awards	2.3	2.3
Payments associated with settlement of equity-based incentive compensation	(9.9)	(9.9)
Other	(0.6)	(0.6)
Ending balance at Jun. 30, 2023	1,714.5	1,808.4	(93.9)
Beginning balance at Mar. 31, 2023	1,681.4	1,774	(92.6)
Comprehensive income:
Net income	238.7	238.7
Total other comprehensive income	(1.3)		(1.3)
Total comprehensive income	237.4	238.7	(1.3)
Distributions	(211.7)	(211.7)
Equity-based incentive compensation expense	7.8	7.8
Other	(0.4)	(0.4)
Ending balance at Jun. 30, 2023	$ 1,714.5	$ 1,808.4	$ (93.9)

Consolidated Statements Of In_2

Consolidated Statements Of Income (Parenthetical) - USD ($) $ in Millions	3 Months Ended	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2022
Income Statement [Abstract]
Gain on disposition of assets	$ 162.4	$ 162.4

Organization, Description of Bu

Organization, Description of Business and Basis Of Presentation	6 Months Ended
	Jun. 30, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization, Description of Business and Basis of Presentation	Organization, Description of Business and Basis of Presentation Organization Unless indicated otherwise, the terms “our,” “we,” “us” and similar language refer to Magellan Midstream Partners, L.P. together with its subsidiaries. Magellan Midstream Partners, L.P. is a Delaware limited partnership, and our common units are traded on the New York Stock Exchange under the ticker symbol “MMP.” Magellan GP, LLC, a wholly owned Delaware limited liability company, serves as our general partner. The board of directors of our general partner is referred to herein as our “board.” Description of Business We are principally engaged in the transportation, storage and distribution of refined petroleum products and crude oil. As of June 30, 2023, our asset portfolio consisted of: • our refined products segment, comprised of our approximately 9,800-mile refined petroleum products pipeline system with 54 terminals and two marine storage terminals (one of which is owned through a joint venture); and • our crude oil segment, comprised of approximately 2,200 miles of crude oil pipelines, a condensate splitter and 39 million barrels of aggregate storage capacity, of which approximately 29 million barrels are used for contract storage. Approximately 1,000 miles of these pipelines, the condensate splitter and 31 million barrels of this storage capacity (including 25 million barrels used for contract storage) are wholly-owned, with the remainder owned through joint ventures. Description of Products The following terms are commonly used in our industry to describe products that we transport, store, distribute or otherwise handle through our petroleum pipelines and terminals: • refined products are the output from crude oil refineries that are primarily used as fuels by consumers. Refined products include gasoline, diesel fuel, aviation fuel, kerosene and heating oil. Diesel fuel, kerosene and heating oil are also referred to as distillates; • crude oil, which includes condensate, is a naturally occurring unrefined petroleum product recovered from underground that is used as feedstock by refineries, splitters and petrochemical facilities; • transmix is a mixture that forms when different refined products are transported in pipelines. Transmix is fractionated and blended into usable refined products; and • LPGs are liquids produced as by-products of the crude oil refining process and in connection with crude oil and natural gas production. LPGs include gas liquids such as butane, natural gasoline and propane. We use the term petroleum products to describe any, or a combination, of the above-noted products. In addition, we handle, store and distribute renewable fuels, such as ethanol, biodiesel and renewable diesel. Merger Agreement On May 14, 2023, we entered into an Agreement and Plan of Merger (the “Merger Agreement”) with ONEOK, Inc. (“ONEOK”) and Otter Merger Sub, LLC, a newly formed, wholly owned subsidiary of ONEOK (“Merger Sub”). Upon the terms and subject to the conditions set forth in the Merger Agreement, Merger Sub will merge with and into Magellan (the “Merger”), with Magellan continuing as a wholly owned subsidiary of ONEOK. The board of directors of ONEOK, and the board of directors of our general partner unanimously approved the Merger Agreement. Under the terms of the Merger Agreement, upon completion of the Merger, Magellan unitholders will receive 0.667 shares of common stock of ONEOK and $25.00 in cash for each common unit of Magellan. The completion of the Merger is subject to the satisfaction of customary closing conditions, including: (i) adoption of the Merger Agreement by holders of a majority of the outstanding Magellan Units, and (ii) approval of the issuance of ONEOK Shares in connection with the Merger by a majority of the votes cast at the shareholder meeting of ONEOK. ONEOK and we have each made customary representations and warranties in the Merger Agreement. The Merger Agreement also contains customary covenants and agreements, including covenants and agreements relating to the conduct of each of ONEOK’s and our business between the date of the signing of the Merger Agreement and the closing date of the Merger. The Merger Agreement provides that in the event of termination of the Merger Agreement under certain circumstances, we may be required to reimburse ONEOK’s expenses up to $125.0 million or pay ONEOK a termination fee equal to $275.0 million less any expenses previously paid. Further, ONEOK may be required to reimburse our expenses up to $75.0 million or pay us a termination fee equal to $450.0 million, less any expenses previously paid. Until the Merger is closed, we must continue to operate as an independent company. Basis of Presentation In the opinion of management, our accompanying consolidated financial statements which are unaudited, except for the consolidated balance sheet as of December 31, 2022, which is derived from our audited financial statements, include all normal and recurring adjustments necessary to present fairly our financial position as of June 30, 2023, the results of operations for the three and six months ended June 30, 2022 and 2023 and cash flows for the six months ended June 30, 2022 and 2023. The results of operations for the six months ended June 30, 2023 are not necessarily indicative of the results to be expected for the full year ending December 31, 2023 for several reasons. Profits from our gas liquids blending activities are realized largely during the first and fourth quarters of each year. Additionally, gasoline demand, which drives transportation volumes and revenues on our refined products pipeline system, generally trends higher during the summer driving months. Further, the volatility of commodity prices impacts the profits from our commodity activities and the volume of petroleum products we transport on our pipelines. Pursuant to the rules and regulations of the Securities and Exchange Commission, the financial statements in this report have been prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) for interim financial information. Accordingly, they do not include all of the information and footnotes required by GAAP for complete financial statements. These financial statements 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. Significant Accounting Polices In addition to our significant accounting policies disclosed in Part II, Item 8 – Financial Statements and Supplementary Data of our Annual Report on Form 10-K, we add the following descriptions of cost of product sales and operating expenses. Cost of Product Sales. Cost of product sales includes costs associated with the purchase of petroleum products, transportation and storage expenses, renewable fuel standard expenses, gains or losses on hedges for product purchases, and costs related to our blending and fractionating activities including compensation, utilities and power and depreciation. Operating Expenses. Operating expenses principally include costs associated with asset maintenance, compensation, utilities and power, materials and supplies, environmental remediation, product overages and shortages, property tax, and insurance. Discontinued Operations In June 2022, we completed the sale of the independent terminals network comprised of 26 refined petroleum products terminals in the southeastern U.S. to Buckeye Partners, L.P. (“Buckeye”). For the prior periods impacted, the related results of operations, financial position and cash flows have been classified as discontinued operations (see Note 2 – Discontinued Operations for additional details). Additionally, the Notes to the Consolidated Financial Statements relate to continuing operations with the exception of Note 9 Employee Benefit Plans , which includes the impact of discontinued operations for the 2022 period. Use of Estimates The preparation of our consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities that exist at the date of our consolidated financial statements, as well as their impact on the reported amounts of revenue and expense during the reporting periods. Actual results could differ from those estimates. New Accounting Pronouncements We evaluate new Accounting Standards Codifications (“ASC”) and updates issued by the Financial Accounting Standards Board on an ongoing basis. There are no new accounting pronouncements that we anticipate will have a material impact on our financial statements.

Discontinued Operations

Discontinued Operations	6 Months Ended
	Jun. 30, 2023
Discontinued Operations and Disposal Groups [Abstract]
Discontinued Operations	Discontinued Operations Summarized Results of Discontinued Operations The following table provides the summarized results that have been presented as discontinued operations in the consolidated statements of income (in millions) for 2022: Three Months Ended June 30, Six Months Ended June 30, 2022 2022 Transportation and terminals revenue $ 9.0 $ 21.1 Product sales revenue 23.7 30.0 Total revenue 32.7 51.1 Costs and expenses: Operating 4.2 8.0 Cost of product sales 18.3 28.8 General and administrative 0.5 1.1 Total costs and expenses 23.0 37.9 Gain on disposition of assets (162.4) (162.4) Income from discontinued operations $ 172.1 $ 175.6 Summarized Assets and Liabilities of Discontinued Operations Subsequent to the sale of the independent terminals network in June 2022, no assets or liabilities were classified as held for sale in relation to discontinued operations.

Segment Disclosures

Segment Disclosures	6 Months Ended
	Jun. 30, 2023
Segment Reporting [Abstract]
Segment Disclosures	Segment DisclosuresOur reportable segments are strategic business units that offer different products and services. Our segments are managed separately because each segment requires different marketing strategies and business knowledge. Management, including our Chief Executive Officer who serves as our chief operating decision maker, evaluates performance based on segment operating margin, which includes revenue from affiliates and third-party customers, intersegment transactions, operating expenses, cost of product sales, other operating (income) expense and earnings of non-controlled entities. We believe that investors benefit from having access to the same financial measures used by management to allocate resources to our segments and to evaluate the economic performance of our core operations. Three Months Ended June 30, 2022 (in millions) Refined Products Crude Oil Intersegment Total Transportation and terminals revenue $ 349.2 $ 121.4 $ (1.3) $ 469.3 Product sales revenue 291.0 22.7 — 313.7 Affiliate management fee revenue 1.7 3.9 — 5.6 Total revenue 641.9 148.0 (1.3) 788.6 Operating expenses 136.3 46.6 (2.8) 180.1 Cost of product sales 260.6 21.7 — 282.3 Other operating (income) expense (3.0) — — (3.0) (Earnings) losses of non-controlled entities 2.0 (28.5) — (26.5) Segment operating margin 246.0 108.2 1.5 355.7 Depreciation, amortization and impairment expense 39.2 18.1 1.5 58.8 G&A expense 40.3 16.6 — 56.9 Operating profit $ 166.5 $ 73.5 $ — $ 240.0 Interest expense (net of interest income and interest capitalized) 57.3 Other (income) expense 0.6 Income from continuing operations before provision for income taxes $ 182.1 Three Months Ended June 30, 2023 (in millions) Refined Products Crude Oil Intersegment Total Transportation and terminals revenue $ 389.9 $ 115.3 $ (2.0) $ 503.2 Product sales revenue 322.8 45.9 — 368.7 Affiliate management fee revenue 1.5 3.8 — 5.3 Total revenue 714.2 165.0 (2.0) 877.2 Operating expenses 129.1 44.5 (3.5) 170.1 Cost of product sales 260.9 35.5 — 296.4 Other operating (income) expense 0.4 0.1 — 0.5 Earnings of non-controlled entities (0.2) (15.7) — (15.9) Segment operating margin 324.0 100.6 1.5 426.1 Depreciation, amortization and impairment expense 37.3 17.8 1.5 56.6 G&A expense 53.1 21.4 — 74.5 Operating profit $ 233.6 $ 61.4 $ — $ 295.0 Interest expense (net of interest income and interest capitalized) 54.8 Gain on disposition of assets (1.1) Other (income) expense 1.0 Income from continuing operations before provision for income taxes $ 240.3 Six Months Ended June 30, 2022 (in millions) Refined Products Crude Oil Intersegment Total Transportation and terminals revenue $ 658.7 $ 236.1 $ (2.6) $ 892.2 Product sales revenue 532.6 27.2 — 559.8 Affiliate management fee revenue 3.5 7.8 — 11.3 Total revenue 1,194.8 271.1 (2.6) 1,463.3 Operating expense 224.5 85.4 (5.6) 304.3 Cost of product sales 493.7 32.0 — 525.7 Other operating (income) expense (3.1) 2.1 — (1.0) Earnings of non-controlled entities (1.7) (60.2) — (61.9) Operating margin 481.4 211.8 3.0 696.2 Depreciation, amortization and impairment expense 78.8 34.7 3.0 116.5 G&A expense 86.0 33.7 — 119.7 Operating profit $ 316.6 $ 143.4 $ — $ 460.0 Interest expense (net of interest income and interest capitalized) 114.1 Gain on disposition of assets (0.2) Other (income) expense 1.2 Income from continuing operations before provision for income taxes $ 344.9 Six Months Ended June 30, 2023 (in millions) Refined Products Crude Oil Intersegment Total Transportation and terminals revenue $ 721.9 $ 239.6 $ (4.2) $ 957.3 Product sales revenue 709.3 69.5 — 778.8 Affiliate management fee revenue 3.1 7.7 — 10.8 Total revenue 1,434.3 316.8 (4.2) 1,746.9 Operating expense 224.7 86.6 (7.3) 304.0 Cost of product sales 568.0 48.5 — 616.5 Other operating (income) expense (5.4) 0.1 — (5.3) Earnings of non-controlled entities (13.8) (28.3) — (42.1) Operating margin 660.8 209.9 3.1 873.8 Depreciation, amortization and impairment expense 75.0 34.3 3.1 112.4 G&A expense 96.6 38.3 — 134.9 Operating profit $ 489.2 $ 137.3 $ — $ 626.5 Interest expense (net of interest income and interest capitalized) 110.9 Gain on disposition of assets (1.1) Other (income) expense 1.6 Income from continuing operations before provision for income taxes $ 515.1

Revenue

Revenue	6 Months Ended
	Jun. 30, 2023
Revenue from Contract with Customer [Abstract]
Revenue	Revenue Statements of Income Disclosures The following tables provide details of our revenue disaggregated by key activities that comprise our performance obligations by operating segment (in millions): Three Months Ended June 30, 2022 Refined Products Crude Oil Intersegment Eliminations Total Transportation $ 249.3 $ 62.1 $ — $ 311.4 Terminalling 29.1 12.8 — 41.9 Storage 38.0 24.6 (1.3) 61.3 Ancillary services 26.3 3.5 — 29.8 Lease revenue 6.5 18.4 — 24.9 Transportation and terminals revenue 349.2 121.4 (1.3) 469.3 Product sales revenue 291.0 22.7 — 313.7 Affiliate management fee revenue 1.7 3.9 — 5.6 Total revenue 641.9 148.0 (1.3) 788.6 Revenue not under the guidance of ASC 606, Revenue from Contracts with Customers: Lease revenue (6.5) (18.4) — (24.9) (Gains) losses from futures contracts included in product sales revenue 86.2 2.8 — 89.0 Affiliate management fee revenue (1.7) (3.9) — (5.6) Total revenue from contracts with customers under ASC 606 $ 719.9 $ 128.5 $ (1.3) $ 847.1 Three Months Ended June 30, 2023 Refined Products Crude Oil Intersegment Eliminations Total Transportation $ 285.0 $ 60.3 $ — $ 345.3 Terminalling 31.6 14.2 — 45.8 Storage 37.2 22.4 (2.0) 57.6 Ancillary services 29.8 4.3 — 34.1 Lease revenue 6.3 14.1 — 20.4 Transportation and terminals revenue 389.9 115.3 (2.0) 503.2 Product sales revenue 322.8 45.9 — 368.7 Affiliate management fee revenue 1.5 3.8 — 5.3 Total revenue 714.2 165.0 (2.0) 877.2 Revenue not under the guidance of ASC 606, Revenue from Contracts with Customers: Lease revenue (6.3) (14.1) — (20.4) (Gains) losses from futures contracts included in product sales revenue 8.4 3.3 — 11.7 Affiliate management fee revenue (1.5) (3.8) — (5.3) Total revenue from contracts with customers under ASC 606 $ 714.8 $ 150.4 $ (2.0) $ 863.2 Six Months Ended June 30, 2022 Refined Products Crude Oil Intersegment Eliminations Total Transportation $ 462.6 $ 117.1 $ — $ 579.7 Terminalling 52.4 19.1 — 71.5 Storage 77.5 51.6 (2.6) 126.5 Ancillary services 53.9 11.4 — 65.3 Lease revenue 12.3 36.9 — 49.2 Transportation and terminals revenue 658.7 236.1 (2.6) 892.2 Product sales revenue 532.6 27.2 — 559.8 Affiliate management fee revenue 3.5 7.8 — 11.3 Total revenue 1,194.8 271.1 (2.6) 1,463.3 Revenue not under the guidance of ASC 606, Revenue from Contracts with Customers : Lease revenue (12.3) (36.9) — (49.2) (Gains) losses from futures contracts included in product sales revenue 194.4 11.0 — 205.4 Affiliate management fee revenue (3.5) (7.8) — (11.3) Total revenue from contracts with customers under ASC 606 $ 1,373.4 $ 237.4 $ (2.6) $ 1,608.2 Six Months Ended June 30, 2023 Refined Products Crude Oil Intersegment Eliminations Total Transportation $ 513.4 $ 118.6 $ — $ 632.0 Terminalling 62.6 32.2 — 94.8 Storage 75.0 47.4 (4.2) 118.2 Ancillary services 58.4 7.6 — 66.0 Lease revenue 12.5 33.8 — 46.3 Transportation and terminals revenue 721.9 239.6 (4.2) 957.3 Product sales revenue 709.3 69.5 — 778.8 Affiliate management fee revenue 3.1 7.7 — 10.8 Total revenue 1,434.3 316.8 (4.2) 1,746.9 Revenue not under the guidance of ASC 606, Revenue from Contracts with Customers : Lease revenue (12.5) (33.8) — (46.3) (Gains) losses from futures contracts included in product sales revenue 13.6 4.5 — 18.1 Affiliate management fee revenue (3.1) (7.7) — (10.8) Total revenue from contracts with customers under ASC 606 $ 1,432.3 $ 279.8 $ (4.2) $ 1,707.9 Balance Sheet Disclosures The following table summarizes our accounts receivable, contract assets and contract liabilities resulting from contracts with customers (in millions): December 31, 2022 June 30, 2023 Accounts receivable from contracts with customers $ 217.0 $ 166.1 Contract assets $ 10.1 $ 10.5 Contract liabilities $ 112.7 $ 103.1 For the respective three and six months ended June 30, 2023, we recognized $5.7 million and $78.0 million of transportation and terminals revenue that was recorded in deferred revenue as of December 31, 2022. Unfulfilled Performance Obligations The following table provides the aggregate amount of the transaction price allocated to our unfulfilled performance obligations (“UPOs”) as of June 30, 2023 by operating segment, including the range of years remaining on our contracts with customers and an estimate of revenues expected to be recognized over the next 12 months (dollars in millions): Refined Products Crude Oil Total Balances at June 30, 2023 $ 1,984.8 $ 1,137.2 $ 3,122.0 Remaining terms 1 - 15 years 1 - 9 years Estimated revenues from UPOs to be recognized in the next 12 months $ 373.2 $ 278.4 $ 651.6

Investments in Non-Controlled E

Investments in Non-Controlled Entities	6 Months Ended
	Jun. 30, 2023
Equity Method Investments and Joint Ventures [Abstract]
Investments in Non-Controlled Entities	Investments in Non-Controlled Entities Our equity investments in non-controlled entities at June 30, 2023 were comprised of: Entity Ownership Interest BridgeTex Pipeline Company, LLC (“BridgeTex”) 30% Double Eagle Pipeline LLC (“Double Eagle”) 50% HoustonLink Pipeline Company, LLC (“HoustonLink”) 50% MVP Terminalling, LLC (“MVP”) 25% Powder Springs Logistics, LLC (“Powder Springs”) 50% Saddlehorn Pipeline Company, LLC (“Saddlehorn”) 30% Seabrook Logistics, LLC (“Seabrook”) 50% Texas Frontera, LLC (“Texas Frontera”) 50% We serve as operator of BridgeTex, HoustonLink, MVP, Powder Springs, Saddlehorn, Texas Frontera and the pipeline activities of Seabrook. We receive fees for management services as well as reimbursement or payment to us for certain direct operational payroll and other overhead costs. The management fees we receive are reported as affiliate management fee revenue in our consolidated statements of income. Cost reimbursements we receive from these entities in connection with our operating services are included as reductions to costs and expenses in our consolidated statements of income and totaled $1.9 million and $2.6 million during the three months ended June 30, 2022 and 2023, respectively, and $3.8 million and $4.9 million during the six months ended June 30, 2022 and 2023, respectively. We recorded the following revenue and expense transactions from certain of these non-controlled entities in our consolidated statements of income (in millions): Three Months Ended June 30, Six Months Ended June 30, 2022 2023 2022 2023 Transportation and terminals revenue: BridgeTex, pipeline capacity and storage $ 11.6 $ 11.0 $ 22.6 $ 22.6 Double Eagle, throughput revenue $ 0.3 $ 1.1 $ 1.0 $ 1.7 Saddlehorn, storage revenue $ 0.6 $ 0.6 $ 1.2 $ 1.2 Operating expenses: Seabrook, storage lease and ancillary services $ 4.5 $ 2.1 $ 8.7 $ 7.1 Our consolidated balance sheets reflected the following balances related to transactions with our non-controlled entities (in millions): December 31, 2022 Trade Accounts Receivable Other Accounts Receivable Other Accounts Payable BridgeTex $ 4.8 $ — $ 3.1 Double Eagle $ 0.2 $ — $ — HoustonLink $ — $ — $ 0.3 MVP $ — $ 0.6 $ — Saddlehorn $ — $ 0.2 $ — Seabrook $ 0.3 $ — $ 0.9 June 30, 2023 Trade Accounts Receivable Other Accounts Receivable Other Accounts Payable BridgeTex $ 0.5 $ — $ — Double Eagle $ 0.4 $ — $ — HoustonLink $ — $ 0.2 $ — MVP $ — $ 0.6 $ — Saddlehorn $ — $ 0.2 $ — Seabrook $ — $ — $ 0.9 We made purchases of transmix from MVP totaling $4.6 million during the three months ended June 30, 2023 and $5.1 million and $7.1 million during the six months ended June 30, 2022 and 2023, respectively. The financial results from MVP, Powder Springs and Texas Frontera are included in our refined products segment and the financial results from BridgeTex, Double Eagle, HoustonLink, Saddlehorn and Seabrook are included in our crude oil segment, each as earnings of non-controlled entities. A summary of our investments in non-controlled entities (representing only our proportionate interest) follows (in millions): Investments at December 31, 2022 $ 894.0 Earnings of non-controlled entities: Proportionate share of earnings 42.9 Amortization of excess investment and capitalized interest (0.8) Earnings of non-controlled entities 42.1 Less: Distributions from operations of non-controlled entities 76.8 Investments at June 30, 2023 $ 859.3

Inventories

Inventories	6 Months Ended
	Jun. 30, 2023
Inventory Disclosure [Abstract]
Inventory	Inventories Inventories at December 31, 2022 and June 30, 2023 were as follows (in millions): December 31, 2022 June 30, Refined products $ 150.2 $ 117.2 Transmix 91.1 99.3 LPGs 66.7 46.9 Crude oil 42.5 61.0 Additives 5.7 5.7 Total inventories $ 356.2 $ 330.1

Debt

Debt	6 Months Ended
	Jun. 30, 2023
Debt Disclosure [Abstract]
Debt	Debt Long-term debt at December 31, 2022 and June 30, 2023 was as follows (in millions): December 31, June 30, Commercial paper $ 32.0 $ — 3.20% Notes due 2025 250.0 250.0 5.00% Notes due 2026 650.0 650.0 3.25% Notes due 2030 500.0 500.0 6.40% Notes due 2037 250.0 250.0 4.20% Notes due 2042 250.0 250.0 5.15% Notes due 2043 550.0 550.0 4.20% Notes due 2045 250.0 250.0 4.25% Notes due 2046 500.0 500.0 4.20% Notes due 2047 500.0 500.0 4.85% Notes due 2049 500.0 500.0 3.95% Notes due 2050 800.0 800.0 Face value of long-term debt 5,032.0 5,000.0 Unamortized debt issuance costs (1) (35.3) (34.1) Net unamortized debt premium (1) 18.3 18.2 Long-term debt, net $ 5,015.0 $ 4,984.1 (1) Debt issuance costs and note discounts and premiums are being amortized or accreted to the applicable notes over the respective lives of those notes. All of the instruments detailed in the table above are senior indebtedness. Other Debt Revolving Credit Facility. At June 30, 2023, the total borrowing capacity under our revolving credit facility was $1.0 billion, of which $88.1 million matures in May 2024 and the remaining $911.9 million matures in November 2027. Any borrowings outstanding under this facility are classified as long-term debt in our consolidated balance sheets to the extent they do not exceed the borrowing capacity maturing in 2027. Borrowings under the facility are unsecured and bear interest at Term SOFR and a credit spread adjustment of 0.10% plus a spread ranging from 0.875% to 1.500% based on our credit ratings. Additionally, an unused commitment fee is assessed at a rate between 0.075% and 0.200% depending on our credit ratings. The unused commitment fee was 0.125% at June 30, 2023. Borrowings under this facility may be used for general purposes, including capital expenditures. As of December 31, 2022 and June 30, 2023, there were no borrowings outstanding under this facility and $3.5 million was obligated for letters of credit. Amounts obligated for letters of credit are not reflected as debt in our consolidated balance sheets, but decrease our borrowing capacity under this facility. Our revolving credit facility requires us to maintain a specified ratio of consolidated debt to EBITDA (as defined in the credit agreement) of no greater than 5.0 to 1.0. In addition, the revolving credit facility and the indentures under which our senior notes were issued contain covenants that limit our ability to, among other things, incur indebtedness secured by certain liens or encumber our assets, engage in certain sale-leaseback transactions and consolidate, merge or dispose of all or substantially all of our assets. We were in compliance with these covenants as of and during the six months ended June 30, 2023. If the Merger with ONEOK is successfully completed, the credit facility will be terminated, but the indentures will remain outstanding.

Leases

Leases	6 Months Ended
	Jun. 30, 2023
Leases [Abstract]
Leases	Leases The following tables provide information about our operating leases (in millions): Three Months Ended June 30, 2022 Three Months Ended June 30, 2023 Third-Party Leases Seabrook Lease All Leases Third-Party Leases Seabrook Lease All Leases Total lease expense $ 6.3 $ 4.5 $ 10.8 $ 6.5 $ 2.1 $ 8.6 Six Months Ended June 30, 2022 Six Months Ended June 30, 2023 Third-Party Leases Seabrook Lease All Leases Third-Party Leases Seabrook Lease All Leases Total lease expense $ 12.5 $ 8.7 $ 21.2 $ 12.9 $ 7.1 $ 20.0 December 31, 2022 June 30, 2023 Third-Party Leases Seabrook Lease All Leases Third-Party Leases Seabrook Lease All Leases Current lease liability $ 21.2 $ 9.8 $ 31.0 $ 21.3 $ — $ 21.3 Long-term lease liability $ 82.1 $ 34.8 $ 116.9 $ 76.7 $ — $ 76.7 Right-of-use asset $ 104.9 $ 44.5 $ 149.4 $ 95.4 $ — $ 95.4

Employee Benefit Plans

Employee Benefit Plans	6 Months Ended
	Jun. 30, 2023
Retirement Benefits [Abstract]
Employee Benefit Plans	Employee Benefit Plans We sponsor a defined contribution plan in which we match our employees’ qualifying contributions, resulting in additional expense to us. Expenses related to the defined contribution plan were $2.5 million and $3.0 million for the three months ended June 30, 2022 and 2023, respectively, and $6.6 million and $7.2 million for the six months ended June 30, 2022 and 2023, respectively. In addition, we sponsor two pension plans, including one for non-union employees and one that covers union employees, and a postretirement benefit plan for certain employees. Net periodic benefit expense for the three and six months ended June 30, 2022 and 2023 were as follows (in millions): Three Months Ended Three Months Ended June 30, 2022 June 30, 2023 Pension Other Postretirement Pension Other Postretirement Components of net periodic benefit costs: Service cost $ 6.6 $ — $ 5.0 $ — Interest cost 2.6 0.1 3.2 0.2 Expected return on plan assets (3.1) — (3.1) — Amortization of prior service credit (0.1) — (0.1) — Amortization of actuarial loss 1.1 0.1 0.4 0.1 Net periodic benefit cost $ 7.1 $ 0.2 $ 5.4 $ 0.3 Six Months Ended Six Months Ended June 30, 2022 June 30, 2023 Pension Other Postretirement Pension Other Postretirement Components of net periodic benefit costs: Service cost $ 13.7 $ 0.1 $ 9.5 $ 0.1 Interest cost 5.3 0.2 6.5 0.3 Expected return on plan assets (6.5) — (6.2) — Amortization of prior service credit (0.1) — (0.1) — Amortization of actuarial loss 2.2 0.2 0.8 0.1 Net periodic benefit cost $ 14.6 $ 0.5 $ 10.5 $ 0.5 The service component of our net periodic benefit costs is presented in operating expenses and G&A expenses, and the non-service components are presented in other (income) expense in our consolidated statements of income. The changes in accumulated other comprehensive loss (“AOCL”) related to employee benefit plan assets and benefit obligations for the three and six months ended June 30, 2022 and 2023 were as follows (in millions): Three Months Ended Three Months Ended June 30, 2022 June 30, 2023 Gains (Losses) Included in AOCL Pension Benefits Other Postretirement Benefits Pension Benefits Other Postretirement Benefits Beginning balance $ (91.7) $ (10.6) $ (41.8) $ (3.7) Net actuarial gain (loss) (1.3) 2.4 (0.9) (1.7) Recognition of prior service credit amortization in income (0.1) — (0.1) — Recognition of actuarial loss amortization in income 1.1 0.1 0.4 0.1 Ending balance $ (92.0) $ (8.1) $ (42.4) $ (5.3) Six Months Ended Six Months Ended June 30, 2022 June 30, 2023 Gains (Losses) Included in AOCL Pension Benefits Other Postretirement Benefits Pension Benefits Other Postretirement Benefits Beginning balance $ (92.8) $ (10.7) $ (42.2) $ (3.7) Net actuarial gain (loss) (1.3) 2.4 (0.9) (1.7) Recognition of prior service credit amortization in income (0.1) — (0.1) — Recognition of actuarial loss amortization in income 2.2 0.2 0.8 0.1 Ending balance $ (92.0) $ (8.1) $ (42.4) $ (5.3) Contributions estimated to be paid into the plans in 2023 are $23.4 million and $0.8 million for the pension plans and other postretirement benefit plan, respectively.

Long-Term Incentive Plan

Long-Term Incentive Plan	6 Months Ended
	Jun. 30, 2023
Share-Based Payment Arrangement [Abstract]
Long-Term Incentive Plan	Long-Term Incentive Plan The compensation committee of our board administers our long-term incentive plan (“LTIP”) covering certain of our employees and the independent directors of our board. The LTIP primarily consists of phantom units and permits the grant of awards covering an aggregate payout of 13.7 million of our common units. The estimated units remaining available under the LTIP at June 30, 2023 totaled approximately 1.3 million. Equity-based incentive compensation expense for the three and six months ended June 30, 2022 and 2023, primarily recorded as G&A expense on our consolidated statements of income, was as follows (in millions): Three Months Ended June 30, Six Months Ended June 30, 2022 2023 2022 2023 Performance-based awards $ 4.6 $ 5.2 $ 12.6 $ 9.9 Time-based awards 3.9 2.6 10.3 4.3 Total $ 8.5 $ 7.8 $ 22.9 $ 14.2 On February 8, 2023, 487,369 unit awards were granted pursuant to our LTIP. These awards included both performance-based and time-based awards and have a three-year vesting period that will end on December 31, 2025. Basic and Diluted Net Income Per Common Unit The difference between our actual common units outstanding and our weighted average number of common units outstanding used to calculate net income per common unit is due to the impact of: (i) the phantom units issued to our independent directors, (ii) unit awards granted to retirees or employees of retirement age and (iii) the weighted average effect of units actually issued or repurchased during a period. The difference between the weighted average number of common units outstanding used for basic and diluted net income per unit calculations on our consolidated statements of income is primarily the dilutive effect of phantom unit awards granted pursuant to our LTIP, which have not yet vested in periods where contingent performance metrics have been met.

Derivative Financial Instrument

Derivative Financial Instruments	6 Months Ended
	Jun. 30, 2023
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Financial Instruments	Derivative Financial Instruments Commodity Derivatives Our open futures contracts at June 30, 2023 were as follows: Type of Contract/Accounting Methodology Product Represented by the Contract and Associated Barrels Maturity Dates Commodity derivatives contract - Economic hedges 4.7 million barrels of refined products and crude oil Between July 2023 and April 2024 Commodity derivatives contract - Economic hedges 1.3 million barrels of gas liquids Between July 2023 and April 2024 Commodity Derivatives Contracts and Deposits Offsets At December 31, 2022 and June 30, 2023, we had made margin deposits of $14.8 million and $16.2 million, respectively, for our commodity derivatives contracts with our counterparties, which were recorded as current assets under commodity derivatives deposits in our consolidated balance sheets. We have the right to offset the combined fair values of our open derivatives contracts against our margin deposits under a master netting arrangement for each counterparty; however, we have elected to present the combined fair values of our open derivatives contracts separately from the related margin deposits in our consolidated balance sheets. Additionally, we have the right to offset the fair values of our derivatives contracts together for each counterparty, which we have elected to do, and we report the combined net balances on our consolidated balance sheets. A schedule of the derivative amounts we have offset and the deposit amounts we could offset under master netting arrangements are provided below as of December 31, 2022 and June 30, 2023 (in millions): Description Gross Amounts of Recognized Liabilities Gross Amounts of Assets Offset in the Consolidated Balance Sheets Net Amounts of Liabilities Presented in the Consolidated Balance Sheets Margin Deposit Amounts Not Offset in the Consolidated Balance Sheets Net Asset Amount (1) As of December 31, 2022 $ (18.2) $ 9.3 $ (8.9) $ 14.8 $ 5.9 As of June 30, 2023 $ (16.1) $ 9.0 $ (7.1) $ 16.2 $ 9.1 (1) Amount represents the maximum loss we would incur if all of our counterparties failed to perform on their derivative contracts. Impact of Derivatives on Our Financial Statements Comprehensive Income The changes in derivative activity included in AOCL for the three and six months ended June 30, 2022 and 2023 were as follows (in millions): Three Months Ended Six Months Ended June 30, June 30, Derivative Losses Included in AOCL 2022 2023 2022 2023 Beginning balance $ (50.6) $ (47.1) $ (51.5) $ (48.0) Reclassification of net loss on cash flow hedges to income 0.9 0.9 1.8 1.8 Ending balance $ (49.7) $ (46.2) $ (49.7) $ (46.2) The following is a summary of the effect on our consolidated statements of income for the three and six months ended June 30, 2022 and 2023 of derivatives that were designated as cash flow hedges (in millions): Interest Rate Contracts Location of Loss Reclassified from AOCL into Income Amount of Loss Reclassified from AOCL into Income Three Months Ended June 30, 2022 and 2023 Interest expense $ (0.9) Six Months Ended June 30, 2022 and 2023 Interest expense $ (1.8) As of June 30, 2023, the net loss estimated to be classified to interest expense over the next twelve months from AOCL is approximately $3.5 million. This amount relates to the amortization of losses on interest rate contracts over the life of the related debt instruments. The following table provides a summary of the effect on our consolidated statements of income for the three and six months ended June 30, 2022 and 2023 of derivatives that were not designated as hedging instruments (in millions): Amount of Gain (Loss) Recognized on Derivatives Three Months Ended Six Months Ended Location of Gain (Loss) June 30, June 30, Derivative Instrument 2022 2023 2022 2023 Commodity derivatives contracts Product sales revenue $ (89.0) $ 11.7 $ (205.4) $ 18.1 Commodity derivatives contracts Cost of product sales (7.4) (10.6) 1.2 (9.8) Basis derivative agreement Other operating income (expense) — — (2.1) — Total $ (96.4) $ 1.1 $ (206.3) $ 8.3 The impact of the derivatives in the above table was reflected as cash from operations on our consolidated statements of cash flows. Balance Sheets The following tables provide a summary of the fair value of derivatives , which are presented on a net basis in our consolidated balance sheets, that were not designated as hedging instruments as of December 31, 2022 and June 30, 2023 (in millions): December 31, 2022 Asset Derivatives Liability Derivatives Derivative Instrument Balance Sheet Location Fair Value Balance Sheet Location Fair Value Commodity derivatives contracts Commodity derivatives contracts, net $ 9.3 Commodity derivatives contracts, net $ 18.2 June 30, 2023 Asset Derivatives Liability Derivatives Derivative Instrument Balance Sheet Location Fair Value Balance Sheet Location Fair Value Commodity derivatives contracts Commodity derivatives contracts, net $ 9.0 Commodity derivatives contracts, net $ 16.1

Fair Value

Fair Value	6 Months Ended
	Jun. 30, 2023
Fair Value Disclosures [Abstract]
Fair Value	Fair Value Fair Value Methods and Assumptions - Financial Assets and Liabilities We used the following methods and assumptions in estimating the fair value of our financial assets and liabilities: • Commodity derivatives contracts . These include exchange-traded and over-the-counter derivative contracts related to petroleum products. These contracts are carried at fair value in our consolidated balance sheets. The exchange-traded contracts are valued based on quoted prices in active markets, while the over-the-counter contracts are valued based on observable market data inputs including published commodity pricing data. See Note 11 – Derivative Financial Instruments for further disclosures regarding these contracts. • Long-term receivables. These include payments receivable under a sales-type leasing arrangement and cost reimbursement agreements. These receivables were recorded at fair value in our consolidated balance sheets, using then-current market rates to estimate the present value of future cash flows. • Investment in Double Eagle. In December 2022, as a result of the non-renewal on existing terms of customer commitments that expire in 2023 and reduced demand for transportation of condensate from the Eagle Ford basin, we evaluated our investment in Double Eagle for an other-than-temporary impairment. The fair value was measured using an income approach and discounted cash flow analysis, which resulted in us recording a $58.4 million charge to earnings in 2022 to adjust the carrying value of our investment to fair value. • Contractual obligations. These primarily included a long-term contractual obligation we entered into in connection with the 2020 sale of three marine terminals to a subsidiary of Buckeye. This obligation requires us to perform certain environmental remediation work on Buckeye’s behalf at the New Haven, Connecticut terminal. This contractual obligation was recorded at fair value in our consolidated balance sheets upon initial recognition and was calculated using our best estimate of potential outcome scenarios to determine our liability for the remediation costs required in this agreement. • Debt. The fair value of our publicly traded notes was based on the prices of those notes at December 31, 2022 and June 30, 2023; however, where recent observable market trades were not available, prices were determined using adjustments to the last traded value for that debt issuance or by adjustments to the prices of similar debt instruments of peer entities that are actively traded. The carrying amount of borrowings, if any, under our revolving credit facility and our commercial paper program approximates fair value due to the frequent repricing of these obligations. Fair Value Measurements - Financial Assets and Liabilities The following tables summarize the carrying amounts, fair values and fair value measurements recorded or disclosed as of December 31, 2022 and June 30, 2023 based on the three levels established by ASC 820, Fair Value Measurements and Disclosures (in millions): Assets (Liabilities) Fair Value Measurements as of December 31, 2022 using: Carrying Amount Fair Value Quoted Prices in Active Markets Significant Significant Commodity derivatives contracts $ (8.9) $ (8.9) $ 1.4 $ (10.3) $ — Long-term receivables $ 8.3 $ 8.3 $ — $ — $ 8.3 Contractual obligations $ (9.6) $ (9.6) $ — $ — $ (9.6) Investment in Double Eagle $ 11.8 $ 11.8 $ — $ — $ 11.8 Debt $ (5,015.0) $ (4,232.5) $ — $ (4,232.5) $ — Assets (Liabilities) Fair Value Measurements as of June 30, 2023 using: Carrying Amount Fair Value Quoted Prices in Active Markets Significant Significant Commodity derivatives contracts $ (7.1) $ (7.1) $ 3.1 $ (10.2) $ — Long-term receivables $ 8.1 $ 8.1 $ — $ — $ 8.1 Contractual obligations $ (9.4) $ (9.4) $ — $ — $ (9.4) Debt $ (4,984.1) $ (4,106.5) $ — $ (4,106.5) $ —

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2023
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Butane Blending Patent Infringement Proceeding On October 4, 2017, Sunoco Partners Marketing & Terminals L.P. (“Sunoco”) brought an action for patent infringement in the U.S. District Court for the District of Delaware alleging Magellan and Powder Springs Logistics, LLC (“Powder Springs”) were infringing patents relating to butane blending. A trial concluded on December 6, 2021, at which the jury found Magellan and Powder Springs willfully infringed those patents. Based on the jury’s award and post-trial proceedings, the total amount awarded to Sunoco is approximately $23.0 million, plus post-judgment interest that continues to accrue. Sunoco and defendants, Magellan and Powder Springs, have appealed the final judgment of the trial court. The amounts we have accrued in relation to the claims represent our best estimate of probable damages, and although it is not possible to predict the ultimate outcome, we do not expect the final resolution of this matter to have a material adverse effect on our business. Corpus Christi Terminal Personal Injury Proceeding Ismael Garcia, Andrew Ramirez, and Jesus Juarez Quintero, et al. brought personal injury cases against Magellan and co-defendants Triton Industrial Services, LLC, Tidal Tank, Inc. and Cleveland Integrity Services, Inc. in Nueces County Court in Texas. The claims were originally brought in three different actions but were consolidated into a single case on March 2, 2021. Claims were asserted by or on behalf of seven individuals and certain beneficiaries. The seven individuals were employed by a contractor of Magellan and were injured, one fatally, as a result of a fire that occurred on December 5, 2020 while they were cleaning a tank at our Corpus Christi terminal. The plaintiffs are seeking damages of an undetermined amount. While the outcome cannot be predicted, we do not expect the final resolution of this matter to have a material adverse effect on our business. Environmental Liabilities Liabilities recognized for estimated environmental costs were $10.2 million at December 31, 2022 and $9.0 million at June 30, 2023. We have classified environmental liabilities as current or noncurrent based on management’s estimates regarding the timing of actual payments. Environmental expenses recognized as a result of changes in our environmental liabilities are included as operating expenses in our consolidated statements of income. Environmental expenses were $0.6 million and $0.2 million for the three months ended June 30, 2022 and 2023, respectively and $1.5 million and $0.6 million for the six months ended June 30, 2022 and 2023, respectively. Other In 2020, we entered into a long-term contractual obligation in connection with the sale of three marine terminals to Buckeye. This obligation requires us to perform certain environmental remediation work on Buckeye’s behalf at the New Haven, Connecticut terminal. At December 31, 2022, our balance sheet included a current liability of $0.6 million and a noncurrent liability of $8.2 million, and as of June 30, 2023, our balance sheet included a current liability of $0.6 million and a noncurrent liability of $8.0 million reflecting the fair values of these obligations, respectively. We have entered into an agreement to guarantee our 50% pro rata share, up to $50.0 million, of contractual obligations under the Powder Springs’ credit facility. As of December 31, 2022 and June 30, 2023, our consolidated balance sheets reflected a $0.8 million other current liability and a corresponding increase in our investment in non-controlled entities on our consolidated balance sheets to reflect the fair value of this guarantee.

Related Party Transactions

Related Party Transactions	6 Months Ended
	Jun. 30, 2023
Related Party Transactions [Abstract]
Related Party Transactions	Related Party TransactionsStacy P. Methvin is an independent member of our board and also serves as a director of one of our customers. We received tariff, terminalling and other ancillary revenue from this customer of $14.9 million and $20.9 million for the three months ended June 30, 2022 and 2023, respectively, and $30.0 million and $42.2 million for the six months ended June 30, 2022 and 2023, respectively. We recorded receivables of $6.8 million and $7.2 million from this customer at December 31, 2022 and June 30, 2023, respectively. See Note 5 – Investments in Non-Controlled Entities and Note 8 – Leases

Partners' Capital and Distribut

Partners' Capital and Distributions	6 Months Ended
	Jun. 30, 2023
Partners' Capital [Abstract]
Partners' Capital and Distributions	Partners’ Capital and Distributions Partners ’ Capital Our board authorized the repurchase of up to $1.5 billion of our common units through 2024. The timing, price and actual number of common units repurchased will depend on a number of factors including our expected expansion capital spending needs, excess cash available, balance sheet metrics, legal and regulatory requirements, market conditions and the trading price of our common units. The repurchase program does not obligate us to acquire any particular amount of common units and may be suspended or discontinued at any time. The terms of the Merger Agreement prohibit us from repurchasing units during the pendency of the Merger. The following table details the changes in the number of our common units outstanding from December 31, 2022 through June 30, 2023: Common units outstanding on December 31, 2022 203,033,837 Units repurchased during 2023 (1,198,222) January 2023—Settlement of employee LTIP awards 223,168 During 2023—Other (1) 36,817 Common units outstanding on June 30, 2023 202,095,600 (1) Common units issued to settle the equity-based retainers paid to independent directors of our board. Distributions Distributions we paid during 2022 and 2023 were as follows (in millions, except per unit amounts): Payment Date Per Unit Total Distribution 2/14/2022 $ 1.0375 $ 220.6 5/13/2022 1.0375 219.5 Through 6/30/2022 2.0750 440.1 8/12/2022 1.0375 215.2 11/14/2022 1.0475 214.7 Total $ 4.1600 $ 870.0 2/14/2023 $ 1.0475 $ 213.0 5/15/2023 1.0475 211.7 Through 6/30/2023 2.0950 424.7 8/14/2023 (1) 1.0475 211.7 Total $ 3.1425 $ 636.4 (1) Our board declared this distribution in July 2023 to be paid on August 14, 2023 to unitholders of record at the close of business on August 7, 2023. The estimated total distribution is based upon the number of common units currently outstanding.

Subsequent Events

Subsequent Events	6 Months Ended
	Jun. 30, 2023
Subsequent Events [Abstract]
Subsequent Events	Subsequent Events Recognizable events No recognizable events occurred subsequent to June 30, 2023. Non-recognizable events Distribution. In July 2023, our board declared a quarterly distribution of $1.0475 per unit for the period of April 1, 2023 through June 30, 2023. This quarterly distribution will be paid on August 14, 2023 to unitholders of record on August 7, 2023.

Organization, Description of _2

Organization, Description of Business and Basis Of Presentation (Policies)	6 Months Ended
	Jun. 30, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	Basis of Presentation In the opinion of management, our accompanying consolidated financial statements which are unaudited, except for the consolidated balance sheet as of December 31, 2022, which is derived from our audited financial statements, include all normal and recurring adjustments necessary to present fairly our financial position as of June 30, 2023, the results of operations for the three and six months ended June 30, 2022 and 2023 and cash flows for the six months ended June 30, 2022 and 2023. The results of operations for the six months ended June 30, 2023 are not necessarily indicative of the results to be expected for the full year ending December 31, 2023 for several reasons. Profits from our gas liquids blending activities are realized largely during the first and fourth quarters of each year. Additionally, gasoline demand, which drives transportation volumes and revenues on our refined products pipeline system, generally trends higher during the summer driving months. Further, the volatility of commodity prices impacts the profits from our commodity activities and the volume of petroleum products we transport on our pipelines. Pursuant to the rules and regulations of the Securities and Exchange Commission, the financial statements in this report have been prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) for interim financial information. Accordingly, they do not include all of the information and footnotes required by GAAP for complete financial statements. These financial statements 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. Significant Accounting Polices In addition to our significant accounting policies disclosed in Part II, Item 8 – Financial Statements and Supplementary Data of our Annual Report on Form 10-K, we add the following descriptions of cost of product sales and operating expenses. Cost of Product Sales. Cost of product sales includes costs associated with the purchase of petroleum products, transportation and storage expenses, renewable fuel standard expenses, gains or losses on hedges for product purchases, and costs related to our blending and fractionating activities including compensation, utilities and power and depreciation. Operating Expenses. Operating expenses principally include costs associated with asset maintenance, compensation, utilities and power, materials and supplies, environmental remediation, product overages and shortages, property tax, and insurance.
Discontinued Operations	Discontinued Operations In June 2022, we completed the sale of the independent terminals network comprised of 26 refined petroleum products terminals in the southeastern U.S. to Buckeye Partners, L.P. (“Buckeye”). For the prior periods impacted, the related results of operations, financial position and cash flows have been classified as discontinued operations (see Note 2 – Discontinued Operations for additional details). Additionally, the Notes to the Consolidated Financial Statements relate to continuing operations with the exception of Note 9 Employee Benefit Plans , which includes the impact of discontinued operations for the 2022 period.
Use of Estimates	Use of Estimates The preparation of our consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities that exist at the date of our consolidated financial statements, as well as their impact on the reported amounts of revenue and expense during the reporting periods. Actual results could differ from those estimates.
New Accounting Pronouncements	New Accounting Pronouncements We evaluate new Accounting Standards Codifications (“ASC”) and updates issued by the Financial Accounting Standards Board on an ongoing basis. There are no new accounting pronouncements that we anticipate will have a material impact on our financial statements.

Discontinued Operations (Tables

Discontinued Operations (Tables)	6 Months Ended
	Jun. 30, 2023
Discontinued Operations and Disposal Groups [Abstract]
Disposal Groups, Including Discontinued Operations	Summarized Results of Discontinued Operations The following table provides the summarized results that have been presented as discontinued operations in the consolidated statements of income (in millions) for 2022: Three Months Ended June 30, Six Months Ended June 30, 2022 2022 Transportation and terminals revenue $ 9.0 $ 21.1 Product sales revenue 23.7 30.0 Total revenue 32.7 51.1 Costs and expenses: Operating 4.2 8.0 Cost of product sales 18.3 28.8 General and administrative 0.5 1.1 Total costs and expenses 23.0 37.9 Gain on disposition of assets (162.4) (162.4) Income from discontinued operations $ 172.1 $ 175.6 Summarized Assets and Liabilities of Discontinued Operations Subsequent to the sale of the independent terminals network in June 2022, no assets or liabilities were classified as held for sale in relation to discontinued operations.

Segment Disclosures (Tables)

Segment Disclosures (Tables)	6 Months Ended
	Jun. 30, 2023
Segment Reporting [Abstract]
Schedule of Business Segment Reporting Information	Three Months Ended June 30, 2022 (in millions) Refined Products Crude Oil Intersegment Total Transportation and terminals revenue $ 349.2 $ 121.4 $ (1.3) $ 469.3 Product sales revenue 291.0 22.7 — 313.7 Affiliate management fee revenue 1.7 3.9 — 5.6 Total revenue 641.9 148.0 (1.3) 788.6 Operating expenses 136.3 46.6 (2.8) 180.1 Cost of product sales 260.6 21.7 — 282.3 Other operating (income) expense (3.0) — — (3.0) (Earnings) losses of non-controlled entities 2.0 (28.5) — (26.5) Segment operating margin 246.0 108.2 1.5 355.7 Depreciation, amortization and impairment expense 39.2 18.1 1.5 58.8 G&A expense 40.3 16.6 — 56.9 Operating profit $ 166.5 $ 73.5 $ — $ 240.0 Interest expense (net of interest income and interest capitalized) 57.3 Other (income) expense 0.6 Income from continuing operations before provision for income taxes $ 182.1 Three Months Ended June 30, 2023 (in millions) Refined Products Crude Oil Intersegment Total Transportation and terminals revenue $ 389.9 $ 115.3 $ (2.0) $ 503.2 Product sales revenue 322.8 45.9 — 368.7 Affiliate management fee revenue 1.5 3.8 — 5.3 Total revenue 714.2 165.0 (2.0) 877.2 Operating expenses 129.1 44.5 (3.5) 170.1 Cost of product sales 260.9 35.5 — 296.4 Other operating (income) expense 0.4 0.1 — 0.5 Earnings of non-controlled entities (0.2) (15.7) — (15.9) Segment operating margin 324.0 100.6 1.5 426.1 Depreciation, amortization and impairment expense 37.3 17.8 1.5 56.6 G&A expense 53.1 21.4 — 74.5 Operating profit $ 233.6 $ 61.4 $ — $ 295.0 Interest expense (net of interest income and interest capitalized) 54.8 Gain on disposition of assets (1.1) Other (income) expense 1.0 Income from continuing operations before provision for income taxes $ 240.3 Six Months Ended June 30, 2022 (in millions) Refined Products Crude Oil Intersegment Total Transportation and terminals revenue $ 658.7 $ 236.1 $ (2.6) $ 892.2 Product sales revenue 532.6 27.2 — 559.8 Affiliate management fee revenue 3.5 7.8 — 11.3 Total revenue 1,194.8 271.1 (2.6) 1,463.3 Operating expense 224.5 85.4 (5.6) 304.3 Cost of product sales 493.7 32.0 — 525.7 Other operating (income) expense (3.1) 2.1 — (1.0) Earnings of non-controlled entities (1.7) (60.2) — (61.9) Operating margin 481.4 211.8 3.0 696.2 Depreciation, amortization and impairment expense 78.8 34.7 3.0 116.5 G&A expense 86.0 33.7 — 119.7 Operating profit $ 316.6 $ 143.4 $ — $ 460.0 Interest expense (net of interest income and interest capitalized) 114.1 Gain on disposition of assets (0.2) Other (income) expense 1.2 Income from continuing operations before provision for income taxes $ 344.9 Six Months Ended June 30, 2023 (in millions) Refined Products Crude Oil Intersegment Total Transportation and terminals revenue $ 721.9 $ 239.6 $ (4.2) $ 957.3 Product sales revenue 709.3 69.5 — 778.8 Affiliate management fee revenue 3.1 7.7 — 10.8 Total revenue 1,434.3 316.8 (4.2) 1,746.9 Operating expense 224.7 86.6 (7.3) 304.0 Cost of product sales 568.0 48.5 — 616.5 Other operating (income) expense (5.4) 0.1 — (5.3) Earnings of non-controlled entities (13.8) (28.3) — (42.1) Operating margin 660.8 209.9 3.1 873.8 Depreciation, amortization and impairment expense 75.0 34.3 3.1 112.4 G&A expense 96.6 38.3 — 134.9 Operating profit $ 489.2 $ 137.3 $ — $ 626.5 Interest expense (net of interest income and interest capitalized) 110.9 Gain on disposition of assets (1.1) Other (income) expense 1.6 Income from continuing operations before provision for income taxes $ 515.1

Revenue (Tables)

Revenue (Tables)	6 Months Ended
	Jun. 30, 2023
Revenue from Contract with Customer [Abstract]
Revenue from External Customers by Products and Services	The following tables provide details of our revenue disaggregated by key activities that comprise our performance obligations by operating segment (in millions): Three Months Ended June 30, 2022 Refined Products Crude Oil Intersegment Eliminations Total Transportation $ 249.3 $ 62.1 $ — $ 311.4 Terminalling 29.1 12.8 — 41.9 Storage 38.0 24.6 (1.3) 61.3 Ancillary services 26.3 3.5 — 29.8 Lease revenue 6.5 18.4 — 24.9 Transportation and terminals revenue 349.2 121.4 (1.3) 469.3 Product sales revenue 291.0 22.7 — 313.7 Affiliate management fee revenue 1.7 3.9 — 5.6 Total revenue 641.9 148.0 (1.3) 788.6 Revenue not under the guidance of ASC 606, Revenue from Contracts with Customers: Lease revenue (6.5) (18.4) — (24.9) (Gains) losses from futures contracts included in product sales revenue 86.2 2.8 — 89.0 Affiliate management fee revenue (1.7) (3.9) — (5.6) Total revenue from contracts with customers under ASC 606 $ 719.9 $ 128.5 $ (1.3) $ 847.1 Three Months Ended June 30, 2023 Refined Products Crude Oil Intersegment Eliminations Total Transportation $ 285.0 $ 60.3 $ — $ 345.3 Terminalling 31.6 14.2 — 45.8 Storage 37.2 22.4 (2.0) 57.6 Ancillary services 29.8 4.3 — 34.1 Lease revenue 6.3 14.1 — 20.4 Transportation and terminals revenue 389.9 115.3 (2.0) 503.2 Product sales revenue 322.8 45.9 — 368.7 Affiliate management fee revenue 1.5 3.8 — 5.3 Total revenue 714.2 165.0 (2.0) 877.2 Revenue not under the guidance of ASC 606, Revenue from Contracts with Customers: Lease revenue (6.3) (14.1) — (20.4) (Gains) losses from futures contracts included in product sales revenue 8.4 3.3 — 11.7 Affiliate management fee revenue (1.5) (3.8) — (5.3) Total revenue from contracts with customers under ASC 606 $ 714.8 $ 150.4 $ (2.0) $ 863.2 Six Months Ended June 30, 2022 Refined Products Crude Oil Intersegment Eliminations Total Transportation $ 462.6 $ 117.1 $ — $ 579.7 Terminalling 52.4 19.1 — 71.5 Storage 77.5 51.6 (2.6) 126.5 Ancillary services 53.9 11.4 — 65.3 Lease revenue 12.3 36.9 — 49.2 Transportation and terminals revenue 658.7 236.1 (2.6) 892.2 Product sales revenue 532.6 27.2 — 559.8 Affiliate management fee revenue 3.5 7.8 — 11.3 Total revenue 1,194.8 271.1 (2.6) 1,463.3 Revenue not under the guidance of ASC 606, Revenue from Contracts with Customers : Lease revenue (12.3) (36.9) — (49.2) (Gains) losses from futures contracts included in product sales revenue 194.4 11.0 — 205.4 Affiliate management fee revenue (3.5) (7.8) — (11.3) Total revenue from contracts with customers under ASC 606 $ 1,373.4 $ 237.4 $ (2.6) $ 1,608.2 Six Months Ended June 30, 2023 Refined Products Crude Oil Intersegment Eliminations Total Transportation $ 513.4 $ 118.6 $ — $ 632.0 Terminalling 62.6 32.2 — 94.8 Storage 75.0 47.4 (4.2) 118.2 Ancillary services 58.4 7.6 — 66.0 Lease revenue 12.5 33.8 — 46.3 Transportation and terminals revenue 721.9 239.6 (4.2) 957.3 Product sales revenue 709.3 69.5 — 778.8 Affiliate management fee revenue 3.1 7.7 — 10.8 Total revenue 1,434.3 316.8 (4.2) 1,746.9 Revenue not under the guidance of ASC 606, Revenue from Contracts with Customers : Lease revenue (12.5) (33.8) — (46.3) (Gains) losses from futures contracts included in product sales revenue 13.6 4.5 — 18.1 Affiliate management fee revenue (3.1) (7.7) — (10.8) Total revenue from contracts with customers under ASC 606 $ 1,432.3 $ 279.8 $ (4.2) $ 1,707.9
Contract with Customer, Asset and Liability	The following table summarizes our accounts receivable, contract assets and contract liabilities resulting from contracts with customers (in millions): December 31, 2022 June 30, 2023 Accounts receivable from contracts with customers $ 217.0 $ 166.1 Contract assets $ 10.1 $ 10.5 Contract liabilities $ 112.7 $ 103.1
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction	The following table provides the aggregate amount of the transaction price allocated to our unfulfilled performance obligations (“UPOs”) as of June 30, 2023 by operating segment, including the range of years remaining on our contracts with customers and an estimate of revenues expected to be recognized over the next 12 months (dollars in millions): Refined Products Crude Oil Total Balances at June 30, 2023 $ 1,984.8 $ 1,137.2 $ 3,122.0 Remaining terms 1 - 15 years 1 - 9 years Estimated revenues from UPOs to be recognized in the next 12 months $ 373.2 $ 278.4 $ 651.6

Investments in Non-Controlled_2

Investments in Non-Controlled Entities (Tables)	6 Months Ended
	Jun. 30, 2023
Equity Method Investments and Joint Ventures [Abstract]
Equity Method Investments	Our equity investments in non-controlled entities at June 30, 2023 were comprised of: Entity Ownership Interest BridgeTex Pipeline Company, LLC (“BridgeTex”) 30% Double Eagle Pipeline LLC (“Double Eagle”) 50% HoustonLink Pipeline Company, LLC (“HoustonLink”) 50% MVP Terminalling, LLC (“MVP”) 25% Powder Springs Logistics, LLC (“Powder Springs”) 50% Saddlehorn Pipeline Company, LLC (“Saddlehorn”) 30% Seabrook Logistics, LLC (“Seabrook”) 50% Texas Frontera, LLC (“Texas Frontera”) 50% We recorded the following revenue and expense transactions from certain of these non-controlled entities in our consolidated statements of income (in millions): Three Months Ended June 30, Six Months Ended June 30, 2022 2023 2022 2023 Transportation and terminals revenue: BridgeTex, pipeline capacity and storage $ 11.6 $ 11.0 $ 22.6 $ 22.6 Double Eagle, throughput revenue $ 0.3 $ 1.1 $ 1.0 $ 1.7 Saddlehorn, storage revenue $ 0.6 $ 0.6 $ 1.2 $ 1.2 Operating expenses: Seabrook, storage lease and ancillary services $ 4.5 $ 2.1 $ 8.7 $ 7.1 Our consolidated balance sheets reflected the following balances related to transactions with our non-controlled entities (in millions): December 31, 2022 Trade Accounts Receivable Other Accounts Receivable Other Accounts Payable BridgeTex $ 4.8 $ — $ 3.1 Double Eagle $ 0.2 $ — $ — HoustonLink $ — $ — $ 0.3 MVP $ — $ 0.6 $ — Saddlehorn $ — $ 0.2 $ — Seabrook $ 0.3 $ — $ 0.9 June 30, 2023 Trade Accounts Receivable Other Accounts Receivable Other Accounts Payable BridgeTex $ 0.5 $ — $ — Double Eagle $ 0.4 $ — $ — HoustonLink $ — $ 0.2 $ — MVP $ — $ 0.6 $ — Saddlehorn $ — $ 0.2 $ — Seabrook $ — $ — $ 0.9 A summary of our investments in non-controlled entities (representing only our proportionate interest) follows (in millions): Investments at December 31, 2022 $ 894.0 Earnings of non-controlled entities: Proportionate share of earnings 42.9 Amortization of excess investment and capitalized interest (0.8) Earnings of non-controlled entities 42.1 Less: Distributions from operations of non-controlled entities 76.8 Investments at June 30, 2023 $ 859.3

Inventory (Tables)

Inventory (Tables)	6 Months Ended
	Jun. 30, 2023
Inventory Disclosure [Abstract]
Schedule of Inventory	Inventories at December 31, 2022 and June 30, 2023 were as follows (in millions): December 31, 2022 June 30, Refined products $ 150.2 $ 117.2 Transmix 91.1 99.3 LPGs 66.7 46.9 Crude oil 42.5 61.0 Additives 5.7 5.7 Total inventories $ 356.2 $ 330.1

Debt (Tables)

Debt (Tables)	6 Months Ended
	Jun. 30, 2023
Debt Disclosure [Abstract]
Consolidated Debt	Long-term debt at December 31, 2022 and June 30, 2023 was as follows (in millions): December 31, June 30, Commercial paper $ 32.0 $ — 3.20% Notes due 2025 250.0 250.0 5.00% Notes due 2026 650.0 650.0 3.25% Notes due 2030 500.0 500.0 6.40% Notes due 2037 250.0 250.0 4.20% Notes due 2042 250.0 250.0 5.15% Notes due 2043 550.0 550.0 4.20% Notes due 2045 250.0 250.0 4.25% Notes due 2046 500.0 500.0 4.20% Notes due 2047 500.0 500.0 4.85% Notes due 2049 500.0 500.0 3.95% Notes due 2050 800.0 800.0 Face value of long-term debt 5,032.0 5,000.0 Unamortized debt issuance costs (1) (35.3) (34.1) Net unamortized debt premium (1) 18.3 18.2 Long-term debt, net $ 5,015.0 $ 4,984.1 (1) Debt issuance costs and note discounts and premiums are being amortized or accreted to the applicable notes over the respective lives of those notes.

Leases (Tables)

Leases (Tables)	6 Months Ended
	Jun. 30, 2023
Leases [Abstract]
Operating Leases	The following tables provide information about our operating leases (in millions): Three Months Ended June 30, 2022 Three Months Ended June 30, 2023 Third-Party Leases Seabrook Lease All Leases Third-Party Leases Seabrook Lease All Leases Total lease expense $ 6.3 $ 4.5 $ 10.8 $ 6.5 $ 2.1 $ 8.6 Six Months Ended June 30, 2022 Six Months Ended June 30, 2023 Third-Party Leases Seabrook Lease All Leases Third-Party Leases Seabrook Lease All Leases Total lease expense $ 12.5 $ 8.7 $ 21.2 $ 12.9 $ 7.1 $ 20.0 December 31, 2022 June 30, 2023 Third-Party Leases Seabrook Lease All Leases Third-Party Leases Seabrook Lease All Leases Current lease liability $ 21.2 $ 9.8 $ 31.0 $ 21.3 $ — $ 21.3 Long-term lease liability $ 82.1 $ 34.8 $ 116.9 $ 76.7 $ — $ 76.7 Right-of-use asset $ 104.9 $ 44.5 $ 149.4 $ 95.4 $ — $ 95.4

Employee Benefit Plans (Tables)

Employee Benefit Plans (Tables)	6 Months Ended
	Jun. 30, 2023
Retirement Benefits [Abstract]
Schedule of Consolidated Net Periodic Benefit Costs	Net periodic benefit expense for the three and six months ended June 30, 2022 and 2023 were as follows (in millions): Three Months Ended Three Months Ended June 30, 2022 June 30, 2023 Pension Other Postretirement Pension Other Postretirement Components of net periodic benefit costs: Service cost $ 6.6 $ — $ 5.0 $ — Interest cost 2.6 0.1 3.2 0.2 Expected return on plan assets (3.1) — (3.1) — Amortization of prior service credit (0.1) — (0.1) — Amortization of actuarial loss 1.1 0.1 0.4 0.1 Net periodic benefit cost $ 7.1 $ 0.2 $ 5.4 $ 0.3 Six Months Ended Six Months Ended June 30, 2022 June 30, 2023 Pension Other Postretirement Pension Other Postretirement Components of net periodic benefit costs: Service cost $ 13.7 $ 0.1 $ 9.5 $ 0.1 Interest cost 5.3 0.2 6.5 0.3 Expected return on plan assets (6.5) — (6.2) — Amortization of prior service credit (0.1) — (0.1) — Amortization of actuarial loss 2.2 0.2 0.8 0.1 Net periodic benefit cost $ 14.6 $ 0.5 $ 10.5 $ 0.5
Schedule of Amounts Recognized in Other Comprehensive Loss	The changes in accumulated other comprehensive loss (“AOCL”) related to employee benefit plan assets and benefit obligations for the three and six months ended June 30, 2022 and 2023 were as follows (in millions): Three Months Ended Three Months Ended June 30, 2022 June 30, 2023 Gains (Losses) Included in AOCL Pension Benefits Other Postretirement Benefits Pension Benefits Other Postretirement Benefits Beginning balance $ (91.7) $ (10.6) $ (41.8) $ (3.7) Net actuarial gain (loss) (1.3) 2.4 (0.9) (1.7) Recognition of prior service credit amortization in income (0.1) — (0.1) — Recognition of actuarial loss amortization in income 1.1 0.1 0.4 0.1 Ending balance $ (92.0) $ (8.1) $ (42.4) $ (5.3) Six Months Ended Six Months Ended June 30, 2022 June 30, 2023 Gains (Losses) Included in AOCL Pension Benefits Other Postretirement Benefits Pension Benefits Other Postretirement Benefits Beginning balance $ (92.8) $ (10.7) $ (42.2) $ (3.7) Net actuarial gain (loss) (1.3) 2.4 (0.9) (1.7) Recognition of prior service credit amortization in income (0.1) — (0.1) — Recognition of actuarial loss amortization in income 2.2 0.2 0.8 0.1 Ending balance $ (92.0) $ (8.1) $ (42.4) $ (5.3)

Long-Term Incentive Plan (Table

Long-Term Incentive Plan (Tables)	6 Months Ended
	Jun. 30, 2023
Share-Based Payment Arrangement [Abstract]
Equity-Based Incentive Compensation Expense	Equity-based incentive compensation expense for the three and six months ended June 30, 2022 and 2023, primarily recorded as G&A expense on our consolidated statements of income, was as follows (in millions): Three Months Ended June 30, Six Months Ended June 30, 2022 2023 2022 2023 Performance-based awards $ 4.6 $ 5.2 $ 12.6 $ 9.9 Time-based awards 3.9 2.6 10.3 4.3 Total $ 8.5 $ 7.8 $ 22.9 $ 14.2

Derivative Financial Instrume_2

Derivative Financial Instruments (Tables)	6 Months Ended
	Jun. 30, 2023
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule Of NYMEX Contracts And Butane Price Swap Purchase Agreements	Our open futures contracts at June 30, 2023 were as follows: Type of Contract/Accounting Methodology Product Represented by the Contract and Associated Barrels Maturity Dates Commodity derivatives contract - Economic hedges 4.7 million barrels of refined products and crude oil Between July 2023 and April 2024 Commodity derivatives contract - Economic hedges 1.3 million barrels of gas liquids Between July 2023 and April 2024
Derivatives and Offset Amounts	A schedule of the derivative amounts we have offset and the deposit amounts we could offset under master netting arrangements are provided below as of December 31, 2022 and June 30, 2023 (in millions): Description Gross Amounts of Recognized Liabilities Gross Amounts of Assets Offset in the Consolidated Balance Sheets Net Amounts of Liabilities Presented in the Consolidated Balance Sheets Margin Deposit Amounts Not Offset in the Consolidated Balance Sheets Net Asset Amount (1) As of December 31, 2022 $ (18.2) $ 9.3 $ (8.9) $ 14.8 $ 5.9 As of June 30, 2023 $ (16.1) $ 9.0 $ (7.1) $ 16.2 $ 9.1 (1) Amount represents the maximum loss we would incur if all of our counterparties failed to perform on their derivative contracts.
Derivatives and Hedging-Cash Flow Hedges	The changes in derivative activity included in AOCL for the three and six months ended June 30, 2022 and 2023 were as follows (in millions): Three Months Ended Six Months Ended June 30, June 30, Derivative Losses Included in AOCL 2022 2023 2022 2023 Beginning balance $ (50.6) $ (47.1) $ (51.5) $ (48.0) Reclassification of net loss on cash flow hedges to income 0.9 0.9 1.8 1.8 Ending balance $ (49.7) $ (46.2) $ (49.7) $ (46.2) The following is a summary of the effect on our consolidated statements of income for the three and six months ended June 30, 2022 and 2023 of derivatives that were designated as cash flow hedges (in millions): Interest Rate Contracts Location of Loss Reclassified from AOCL into Income Amount of Loss Reclassified from AOCL into Income Three Months Ended June 30, 2022 and 2023 Interest expense $ (0.9) Six Months Ended June 30, 2022 and 2023 Interest expense $ (1.8)
Derivatives and Hedging-Overall-Subsequent Measurement	The following table provides a summary of the effect on our consolidated statements of income for the three and six months ended June 30, 2022 and 2023 of derivatives that were not designated as hedging instruments (in millions): Amount of Gain (Loss) Recognized on Derivatives Three Months Ended Six Months Ended Location of Gain (Loss) June 30, June 30, Derivative Instrument 2022 2023 2022 2023 Commodity derivatives contracts Product sales revenue $ (89.0) $ 11.7 $ (205.4) $ 18.1 Commodity derivatives contracts Cost of product sales (7.4) (10.6) 1.2 (9.8) Basis derivative agreement Other operating income (expense) — — (2.1) — Total $ (96.4) $ 1.1 $ (206.3) $ 8.3
Derivatives and Hedging-Designated	The following tables provide a summary of the fair value of derivatives , which are presented on a net basis in our consolidated balance sheets, that were not designated as hedging instruments as of December 31, 2022 and June 30, 2023 (in millions): December 31, 2022 Asset Derivatives Liability Derivatives Derivative Instrument Balance Sheet Location Fair Value Balance Sheet Location Fair Value Commodity derivatives contracts Commodity derivatives contracts, net $ 9.3 Commodity derivatives contracts, net $ 18.2 June 30, 2023 Asset Derivatives Liability Derivatives Derivative Instrument Balance Sheet Location Fair Value Balance Sheet Location Fair Value Commodity derivatives contracts Commodity derivatives contracts, net $ 9.0 Commodity derivatives contracts, net $ 16.1

Fair Value (Tables)

Fair Value (Tables)	6 Months Ended
	Jun. 30, 2023
Fair Value Disclosures [Abstract]
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis	The following tables summarize the carrying amounts, fair values and fair value measurements recorded or disclosed as of December 31, 2022 and June 30, 2023 based on the three levels established by ASC 820, Fair Value Measurements and Disclosures (in millions): Assets (Liabilities) Fair Value Measurements as of December 31, 2022 using: Carrying Amount Fair Value Quoted Prices in Active Markets Significant Significant Commodity derivatives contracts $ (8.9) $ (8.9) $ 1.4 $ (10.3) $ — Long-term receivables $ 8.3 $ 8.3 $ — $ — $ 8.3 Contractual obligations $ (9.6) $ (9.6) $ — $ — $ (9.6) Investment in Double Eagle $ 11.8 $ 11.8 $ — $ — $ 11.8 Debt $ (5,015.0) $ (4,232.5) $ — $ (4,232.5) $ — Assets (Liabilities) Fair Value Measurements as of June 30, 2023 using: Carrying Amount Fair Value Quoted Prices in Active Markets Significant Significant Commodity derivatives contracts $ (7.1) $ (7.1) $ 3.1 $ (10.2) $ — Long-term receivables $ 8.1 $ 8.1 $ — $ — $ 8.1 Contractual obligations $ (9.4) $ (9.4) $ — $ — $ (9.4) Debt $ (4,984.1) $ (4,106.5) $ — $ (4,106.5) $ —

Partners' Capital and Distrib_2

Partners' Capital and Distributions (Tables)	6 Months Ended
	Jun. 30, 2023
Partners' Capital [Abstract]
Schedule of Capital Units	The following table details the changes in the number of our common units outstanding from December 31, 2022 through June 30, 2023: Common units outstanding on December 31, 2022 203,033,837 Units repurchased during 2023 (1,198,222) January 2023—Settlement of employee LTIP awards 223,168 During 2023—Other (1) 36,817 Common units outstanding on June 30, 2023 202,095,600 (1) Common units issued to settle the equity-based retainers paid to independent directors of our board.
Schedule of Distributions	Distributions we paid during 2022 and 2023 were as follows (in millions, except per unit amounts): Payment Date Per Unit Total Distribution 2/14/2022 $ 1.0375 $ 220.6 5/13/2022 1.0375 219.5 Through 6/30/2022 2.0750 440.1 8/12/2022 1.0375 215.2 11/14/2022 1.0475 214.7 Total $ 4.1600 $ 870.0 2/14/2023 $ 1.0475 $ 213.0 5/15/2023 1.0475 211.7 Through 6/30/2023 2.0950 424.7 8/14/2023 (1) 1.0475 211.7 Total $ 3.1425 $ 636.4 (1) Our board declared this distribution in July 2023 to be paid on August 14, 2023 to unitholders of record at the close of business on August 7, 2023. The estimated total distribution is based upon the number of common units currently outstanding.

Organization, Description of _3

Organization, Description of Business and Basis of Presentation (Narrative) (Details) $ / shares in Units, barrel in Millions, $ in Millions	May 14, 2023 USD ($)	Jun. 30, 2023 barrel terminal mi $ / shares Rate	Jun. 08, 2022 terminal
ONEOK, Inc.
Organization and Description of Business [Line Items]
Merger exchange ratio | Rate		66.70%
Business Acquisition, Share Price | $ / shares		$ 25
Magellan Midstream Partners, L.P. | ONEOK, Inc.
Organization and Description of Business [Line Items]
Merger agreement, termination reimbursement expense | $	$ 125
Merger agreement, termination fee | $	275
ONEOK, Inc. | ONEOK, Inc.
Organization and Description of Business [Line Items]
Merger agreement, termination reimbursement expense | $	75
Merger agreement, termination fee | $	$ 450
Independent Terminals Network | Discontinued Operations, Held-for-sale
Organization and Description of Business [Line Items]
Number of independent terminals | terminal			26
Refined Products
Organization and Description of Business [Line Items]
Pipeline length | mi		9,800
Number of pipeline terminals | terminal		54
Number of marine terminals | terminal		2
Number of marine terminals, owned through joint venture | terminal		1
Crude Oil
Organization and Description of Business [Line Items]
Pipeline length | mi		2,200
Storage capacity | barrel		39
Contracted storage | barrel		29
Pipeline length - wholly owned | mi		1,000
Storage capacity - wholly owned | barrel		31
Contracted storage - wholly owned | barrel		25

Discontinued Operations - Dispo

Discontinued Operations - Disposal Groups, Including Discontinued Operations (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022	Jun. 09, 2022
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Total revenue		$ 32,700,000		$ 51,100,000
Costs and expenses:
Operating		4,200,000		8,000,000
Cost of product sales		18,300,000		28,800,000
General and administrative		500,000		1,100,000
Total costs and expenses		23,000,000		37,900,000
Gain on disposition of assets		162,400,000		162,400,000
Income from discontinued operations (including gain on disposition of assets of $162.4 million in June 2022)	$ 0	172,100,000	$ 0	175,600,000
Disposal Group, Including Discontinued Operation, Assets [Abstract]
Disposal Group, Including Discontinued Operation, Assets					$ 0
Disposal Group, Including Discontinued Operation, Liabilities [Abstract]
Disposal Group, Including Discontinued Operation, Liabilities, Total					$ 0
Transportation and terminals revenue
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Total revenue		9,000,000		21,100,000
Product sales revenue
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Total revenue		$ 23,700,000		$ 30,000,000

Discontinued Operations - Narra

Discontinued Operations - Narrative (Details)	6 Months Ended
	Jun. 30, 2023 USD ($)	Jun. 30, 2022 USD ($)	Jun. 09, 2022 USD ($)	Jun. 08, 2022 terminal
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Proceeds from disposition of assets	$ 1,100,000	$ 200,000
Disposal Group, Including Discontinued Operation, Assets			$ 0
Independent Terminals Network | Discontinued Operations, Held-for-sale
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of independent terminals | terminal				26

Segment Disclosures - Schedule

Segment Disclosures - Schedule Of Business Segment Reporting Information (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Segment Reporting Information [Line Items]
Total revenue	$ 877,200	$ 788,600	$ 1,746,900	$ 1,463,300
Operating expenses	170,100	180,100	304,000	304,300
Cost of product sales	296,400	282,300	616,500	525,700
Other operating (income) expense	500	(3,000)	(5,300)	(1,000)
Earnings of non-controlled entities	(15,900)	(26,500)	(42,100)	(61,900)
Segment operating margin	426,100	355,700	873,800	696,200
Depreciation, amortization and impairment	56,600	58,800	112,400	116,500
G&A expense	74,500	56,900	134,900	119,700
Operating profit	295,000	240,000	626,500	460,000
Interest expense (net of interest income and interest capitalized)	54,800	57,300	110,900	114,100
Gain on disposition of assets	1,100	0	1,100	200
Other (income) expense	(1,000)	(600)	(1,600)	(1,200)
Income from continuing operations before provision for income taxes	240,300	182,100	515,100	344,900
Operating Segments | Refined Products
Segment Reporting Information [Line Items]
Total revenue	714,200	641,900	1,434,300	1,194,800
Operating expenses	129,100	136,300	224,700	224,500
Cost of product sales	260,900	260,600	568,000	493,700
Other operating (income) expense	400	(3,000)	(5,400)	(3,100)
Earnings of non-controlled entities	(200)	2,000	(13,800)	(1,700)
Segment operating margin	324,000	246,000	660,800	481,400
Depreciation, amortization and impairment	37,300	39,200	75,000	78,800
G&A expense	53,100	40,300	96,600	86,000
Operating profit	233,600	166,500	489,200	316,600
Operating Segments | Crude Oil
Segment Reporting Information [Line Items]
Total revenue	165,000	148,000	316,800	271,100
Operating expenses	44,500	46,600	86,600	85,400
Cost of product sales	35,500	21,700	48,500	32,000
Other operating (income) expense	100	0	100	2,100
Earnings of non-controlled entities	(15,700)	(28,500)	(28,300)	(60,200)
Segment operating margin	100,600	108,200	209,900	211,800
Depreciation, amortization and impairment	17,800	18,100	34,300	34,700
G&A expense	21,400	16,600	38,300	33,700
Operating profit	61,400	73,500	137,300	143,400
Intersegment Eliminations
Segment Reporting Information [Line Items]
Total revenue	(2,000)	(1,300)	(4,200)	(2,600)
Operating expenses	(3,500)	(2,800)	(7,300)	(5,600)
Cost of product sales	0	0	0	0
Other operating (income) expense	0	0	0	0
Earnings of non-controlled entities	0	0	0	0
Segment operating margin	1,500	1,500	3,100	3,000
Depreciation, amortization and impairment	1,500	1,500	3,100	3,000
G&A expense	0	0	0	0
Operating profit	0	0	0	0
Transportation and terminals revenue
Segment Reporting Information [Line Items]
Total revenue	503,200	469,300	957,300	892,200
Transportation and terminals revenue | Operating Segments | Refined Products
Segment Reporting Information [Line Items]
Total revenue	389,900	349,200	721,900	658,700
Transportation and terminals revenue | Operating Segments | Crude Oil
Segment Reporting Information [Line Items]
Total revenue	115,300	121,400	239,600	236,100
Transportation and terminals revenue | Intersegment Eliminations
Segment Reporting Information [Line Items]
Total revenue	(2,000)	(1,300)	(4,200)	(2,600)
Product sales revenue
Segment Reporting Information [Line Items]
Total revenue	368,700	313,700	778,800	559,800
Product sales revenue | Operating Segments | Refined Products
Segment Reporting Information [Line Items]
Total revenue	322,800	291,000	709,300	532,600
Product sales revenue | Operating Segments | Crude Oil
Segment Reporting Information [Line Items]
Total revenue	45,900	22,700	69,500	27,200
Product sales revenue | Intersegment Eliminations
Segment Reporting Information [Line Items]
Total revenue	0	0	0	0
Affiliate management fee revenue
Segment Reporting Information [Line Items]
Total revenue	5,300	5,600	10,800	11,300
Affiliate management fee revenue | Operating Segments | Refined Products
Segment Reporting Information [Line Items]
Total revenue	1,500	1,700	3,100	3,500
Affiliate management fee revenue | Operating Segments | Crude Oil
Segment Reporting Information [Line Items]
Total revenue	3,800	3,900	7,700	7,800
Affiliate management fee revenue | Intersegment Eliminations
Segment Reporting Information [Line Items]
Total revenue	$ 0	$ 0	$ 0	$ 0

Revenue - Disaggregation of Rev

Revenue - Disaggregation of Revenue (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Disaggregation of Revenue [Line Items]
Total revenue	$ 877.2	$ 788.6	$ 1,746.9	$ 1,463.3
Lease revenue	(20.4)	(24.9)	(46.3)	(49.2)
(Gains) losses from futures contracts included in product sales revenue	11.7	89	18.1	205.4
Total revenue from contracts with customers under ASC 606	863.2	847.1	1,707.9	1,608.2
Related Party
Disaggregation of Revenue [Line Items]
Total revenue	5.3	5.6	10.8	11.3
Transportation and terminals revenue
Disaggregation of Revenue [Line Items]
Total revenue	503.2	469.3	957.3	892.2
Product sales revenue
Disaggregation of Revenue [Line Items]
Total revenue	368.7	313.7	778.8	559.8
Affiliate management fee revenue
Disaggregation of Revenue [Line Items]
Total revenue	5.3	5.6	10.8	11.3
Operating Segments | Refined Products
Disaggregation of Revenue [Line Items]
Total revenue	714.2	641.9	1,434.3	1,194.8
Lease revenue	(6.3)	(6.5)	(12.5)	(12.3)
(Gains) losses from futures contracts included in product sales revenue	8.4	86.2	13.6	194.4
Total revenue from contracts with customers under ASC 606	714.8	719.9	1,432.3	1,373.4
Operating Segments | Refined Products | Related Party
Disaggregation of Revenue [Line Items]
Total revenue	1.5	1.7	3.1	3.5
Operating Segments | Crude Oil
Disaggregation of Revenue [Line Items]
Total revenue	165	148	316.8	271.1
Lease revenue	(14.1)	(18.4)	(33.8)	(36.9)
(Gains) losses from futures contracts included in product sales revenue	3.3	2.8	4.5	11
Total revenue from contracts with customers under ASC 606	150.4	128.5	279.8	237.4
Operating Segments | Crude Oil | Related Party
Disaggregation of Revenue [Line Items]
Total revenue	3.8	3.9	7.7	7.8
Operating Segments | Transportation and terminals revenue | Refined Products
Disaggregation of Revenue [Line Items]
Total revenue	389.9	349.2	721.9	658.7
Operating Segments | Transportation and terminals revenue | Crude Oil
Disaggregation of Revenue [Line Items]
Total revenue	115.3	121.4	239.6	236.1
Operating Segments | Product sales revenue | Refined Products
Disaggregation of Revenue [Line Items]
Total revenue	322.8	291	709.3	532.6
Operating Segments | Product sales revenue | Crude Oil
Disaggregation of Revenue [Line Items]
Total revenue	45.9	22.7	69.5	27.2
Operating Segments | Affiliate management fee revenue | Refined Products
Disaggregation of Revenue [Line Items]
Total revenue	1.5	1.7	3.1	3.5
Operating Segments | Affiliate management fee revenue | Crude Oil
Disaggregation of Revenue [Line Items]
Total revenue	3.8	3.9	7.7	7.8
Intersegment Eliminations
Disaggregation of Revenue [Line Items]
Total revenue	(2)	(1.3)	(4.2)	(2.6)
Lease revenue	0	0	0	0
(Gains) losses from futures contracts included in product sales revenue	0	0	0	0
Total revenue from contracts with customers under ASC 606	(2)	(1.3)	(4.2)	(2.6)
Intersegment Eliminations | Related Party
Disaggregation of Revenue [Line Items]
Total revenue	0	0	0	0
Intersegment Eliminations | Transportation and terminals revenue
Disaggregation of Revenue [Line Items]
Total revenue	(2)	(1.3)	(4.2)	(2.6)
Intersegment Eliminations | Product sales revenue
Disaggregation of Revenue [Line Items]
Total revenue	0	0	0	0
Intersegment Eliminations | Affiliate management fee revenue
Disaggregation of Revenue [Line Items]
Total revenue	0	0	0	0
Transferred over Time | Transportation and terminals revenue
Disaggregation of Revenue [Line Items]
Total revenue	503.2	469.3	957.3	892.2
Transferred over Time | Transportation
Disaggregation of Revenue [Line Items]
Total revenue	345.3	311.4	632	579.7
Transferred over Time | Terminalling
Disaggregation of Revenue [Line Items]
Total revenue	45.8	41.9	94.8	71.5
Transferred over Time | Storage
Disaggregation of Revenue [Line Items]
Total revenue	57.6	61.3	118.2	126.5
Transferred over Time | Ancillary services
Disaggregation of Revenue [Line Items]
Total revenue	34.1	29.8	66	65.3
Transferred over Time | Lease revenue
Disaggregation of Revenue [Line Items]
Total revenue	20.4	24.9	46.3	49.2
Transferred over Time | Operating Segments | Transportation and terminals revenue | Refined Products
Disaggregation of Revenue [Line Items]
Total revenue	389.9	349.2	721.9	658.7
Transferred over Time | Operating Segments | Transportation and terminals revenue | Crude Oil
Disaggregation of Revenue [Line Items]
Total revenue	115.3	121.4	239.6	236.1
Transferred over Time | Operating Segments | Transportation | Refined Products
Disaggregation of Revenue [Line Items]
Total revenue	285	249.3	513.4	462.6
Transferred over Time | Operating Segments | Transportation | Crude Oil
Disaggregation of Revenue [Line Items]
Total revenue	60.3	62.1	118.6	117.1
Transferred over Time | Operating Segments | Terminalling | Refined Products
Disaggregation of Revenue [Line Items]
Total revenue	31.6	29.1	62.6	52.4
Transferred over Time | Operating Segments | Terminalling | Crude Oil
Disaggregation of Revenue [Line Items]
Total revenue	14.2	12.8	32.2	19.1
Transferred over Time | Operating Segments | Storage | Refined Products
Disaggregation of Revenue [Line Items]
Total revenue	37.2	38	75	77.5
Transferred over Time | Operating Segments | Storage | Crude Oil
Disaggregation of Revenue [Line Items]
Total revenue	22.4	24.6	47.4	51.6
Transferred over Time | Operating Segments | Ancillary services | Refined Products
Disaggregation of Revenue [Line Items]
Total revenue	29.8	26.3	58.4	53.9
Transferred over Time | Operating Segments | Ancillary services | Crude Oil
Disaggregation of Revenue [Line Items]
Total revenue	4.3	3.5	7.6	11.4
Transferred over Time | Operating Segments | Lease revenue | Refined Products
Disaggregation of Revenue [Line Items]
Total revenue	6.3	6.5	12.5	12.3
Transferred over Time | Operating Segments | Lease revenue | Crude Oil
Disaggregation of Revenue [Line Items]
Total revenue	14.1	18.4	33.8	36.9
Transferred over Time | Intersegment Eliminations | Transportation and terminals revenue
Disaggregation of Revenue [Line Items]
Total revenue	(2)	(1.3)	(4.2)	(2.6)
Transferred over Time | Intersegment Eliminations | Transportation
Disaggregation of Revenue [Line Items]
Total revenue	0	0	0	0
Transferred over Time | Intersegment Eliminations | Terminalling
Disaggregation of Revenue [Line Items]
Total revenue	0	0	0	0
Transferred over Time | Intersegment Eliminations | Storage
Disaggregation of Revenue [Line Items]
Total revenue	(2)	(1.3)	(4.2)	(2.6)
Transferred over Time | Intersegment Eliminations | Ancillary services
Disaggregation of Revenue [Line Items]
Total revenue	0	0	0	0
Transferred over Time | Intersegment Eliminations | Lease revenue
Disaggregation of Revenue [Line Items]
Total revenue	0	0	0	0
Transferred at Point in Time | Product sales revenue
Disaggregation of Revenue [Line Items]
Total revenue	368.7	313.7	778.8	559.8
Transferred at Point in Time | Operating Segments | Product sales revenue | Refined Products
Disaggregation of Revenue [Line Items]
Total revenue	322.8	291	709.3	532.6
Transferred at Point in Time | Operating Segments | Product sales revenue | Crude Oil
Disaggregation of Revenue [Line Items]
Total revenue	45.9	22.7	69.5	27.2
Transferred at Point in Time | Intersegment Eliminations | Product sales revenue
Disaggregation of Revenue [Line Items]
Total revenue	$ 0	$ 0	$ 0	$ 0

Revenue - Assets and Liabilitie

Revenue - Assets and Liabilities (Details) - USD ($) $ in Millions	Jun. 30, 2023	Dec. 31, 2022
Revenue from Contract with Customer [Abstract]
Accounts receivable from contracts with customers	$ 166.1	$ 217
Contract assets	10.5	10.1
Contract liabilities	$ 103.1	$ 112.7

Revenue - Narrative (Details)

Revenue - Narrative (Details) - USD ($) $ in Millions	3 Months Ended	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2023
Revenue from Contract with Customer [Abstract]
Deferred revenue, revenue recognized	$ 5.7	$ 78

Revenue - Performance Obligatio

Revenue - Performance Obligations in Next 12 Months (Details) $ in Millions	Jun. 30, 2023 USD ($)
Segment Reporting Information [Line Items]
Revenue, remaining performance obligation	$ 3,122
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-10-01
Segment Reporting Information [Line Items]
Revenue, remaining performance obligation	$ 651.6
Remaining terms	12 months
Refined Products
Segment Reporting Information [Line Items]
Revenue, remaining performance obligation	$ 1,984.8
Refined Products | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-10-01
Segment Reporting Information [Line Items]
Revenue, remaining performance obligation	373.2
Crude Oil
Segment Reporting Information [Line Items]
Revenue, remaining performance obligation	1,137.2
Crude Oil | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-10-01
Segment Reporting Information [Line Items]
Revenue, remaining performance obligation	$ 278.4
Minimum | Refined Products | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-10-01
Segment Reporting Information [Line Items]
Remaining terms	1 year
Minimum | Crude Oil | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-10-01
Segment Reporting Information [Line Items]
Remaining terms	1 year
Maximum | Refined Products | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-10-01
Segment Reporting Information [Line Items]
Remaining terms	15 years
Maximum | Crude Oil | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-10-01
Segment Reporting Information [Line Items]
Remaining terms	9 years

Investments in Non-Controlled_3

Investments in Non-Controlled Entities (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022
Schedule of Equity Method Investments [Line Items]
Total revenue	$ 877.2	$ 788.6	$ 1,746.9	$ 1,463.3
Operating	170.1	180.1	304	304.3
Trade accounts receivable	169.5		169.5		$ 219.9
Other accounts receivable	34.8		34.8		44.4
Change in Equity Method Investments [Roll Forward]
Investments, beginning balance			894
Proportionate share of earnings			42.9
Amortization of excess investment and capitalized interest			(0.8)
Earnings of non-controlled entities	15.9	26.5	42.1	61.9
Distributions from operations of non-controlled entities			76.8	78.9
Investments, ending balance	859.3		859.3
Related Party
Schedule of Equity Method Investments [Line Items]
Total revenue	$ 5.3	5.6	$ 10.8	11.3
BridgeTex
Schedule of Equity Method Investments [Line Items]
Interest in equity method investment	30%		30%
Double Eagle
Schedule of Equity Method Investments [Line Items]
Interest in equity method investment	50%		50%
HoustonLink
Schedule of Equity Method Investments [Line Items]
Interest in equity method investment	50%		50%
MVP
Schedule of Equity Method Investments [Line Items]
Interest in equity method investment	25%		25%
Powder Springs Logistics, LLC
Schedule of Equity Method Investments [Line Items]
Interest in equity method investment	50%		50%
Saddlehorn
Schedule of Equity Method Investments [Line Items]
Interest in equity method investment	30%		30%
Seabrook
Schedule of Equity Method Investments [Line Items]
Interest in equity method investment	50%		50%
Texas Frontera LLC
Schedule of Equity Method Investments [Line Items]
Interest in equity method investment	50%		50%
Transportation and terminals revenue
Schedule of Equity Method Investments [Line Items]
Total revenue	$ 503.2	469.3	$ 957.3	892.2
Equity Method Investee | Related Party
Schedule of Equity Method Investments [Line Items]
Cost Reimbursements	2.6	1.9	4.9	3.8
Equity Method Investee | MVP
Schedule of Equity Method Investments [Line Items]
Related Party Transaction, Purchases from Related Party	4.6		7.1	5.1
Equity Method Investee | BridgeTex
Schedule of Equity Method Investments [Line Items]
Trade accounts receivable	0.5		0.5		4.8
Other accounts receivable	0		0		0
Other Accounts Payable	0		0		3.1
Equity Method Investee | Double Eagle
Schedule of Equity Method Investments [Line Items]
Trade accounts receivable	0.4		0.4		0.2
Other accounts receivable	0		0		0
Other Accounts Payable	0		0		0
Equity Method Investee | HoustonLink
Schedule of Equity Method Investments [Line Items]
Trade accounts receivable	0		0		0
Other accounts receivable	0.2		0.2		0
Other Accounts Payable	0		0		0.3
Equity Method Investee | MVP
Schedule of Equity Method Investments [Line Items]
Trade accounts receivable	0		0		0
Other accounts receivable	0.6		0.6		0.6
Other Accounts Payable	0		0		0
Equity Method Investee | Saddlehorn
Schedule of Equity Method Investments [Line Items]
Trade accounts receivable	0		0		0
Other accounts receivable	0.2		0.2		0.2
Other Accounts Payable	0		0		0
Equity Method Investee | Seabrook
Schedule of Equity Method Investments [Line Items]
Operating	2.1	4.5	7.1	8.7
Trade accounts receivable	0		0		0.3
Other accounts receivable	0		0		0
Other Accounts Payable	0.9		0.9		$ 0.9
Equity Method Investee | Transportation and terminals revenue | BridgeTex
Schedule of Equity Method Investments [Line Items]
Total revenue	11	11.6	22.6	22.6
Equity Method Investee | Transportation and terminals revenue | Double Eagle
Schedule of Equity Method Investments [Line Items]
Total revenue	1.1	0.3	1.7	1
Equity Method Investee | Transportation and terminals revenue | Saddlehorn
Schedule of Equity Method Investments [Line Items]
Total revenue	$ 0.6	$ 0.6	$ 1.2	$ 1.2

Inventory (Details)

Inventory (Details) - USD ($) $ in Millions	Jun. 30, 2023	Dec. 31, 2022
Inventory Disclosure [Abstract]
Refined products	$ 117.2	$ 150.2
Transmix	99.3	91.1
LPGs	46.9	66.7
Crude oil	61	42.5
Additives	5.7	5.7
Total inventories	$ 330.1	$ 356.2

Debt - Consolidated Debt (Detai

Debt - Consolidated Debt (Details) - USD ($) $ in Millions	Jun. 30, 2023	Dec. 31, 2022
Debt Instrument [Line Items]
Face value of long-term debt	$ 5,000	$ 5,032
Unamortized debt issuance costs	(34.1)	(35.3)
Net unamortized debt premium	18.2	18.3
Long-term debt, net	4,984.1	5,015
Commercial paper
Debt Instrument [Line Items]
Face value of long-term debt	$ 0	32
3.20% Notes due 2025
Debt Instrument [Line Items]
Debt instrument, interest rate, stated percentage	3.20%
Face value of long-term debt	$ 250	250
5.00% Notes due 2026
Debt Instrument [Line Items]
Debt instrument, interest rate, stated percentage	5%
Face value of long-term debt	$ 650	650
3.25% Notes due 2030
Debt Instrument [Line Items]
Debt instrument, interest rate, stated percentage	3.25%
Face value of long-term debt	$ 500	500
6.40% Notes due 2037
Debt Instrument [Line Items]
Debt instrument, interest rate, stated percentage	6.40%
Face value of long-term debt	$ 250	250
4.20% Notes due 2042
Debt Instrument [Line Items]
Debt instrument, interest rate, stated percentage	4.20%
Face value of long-term debt	$ 250	250
5.15% Notes due 2043
Debt Instrument [Line Items]
Debt instrument, interest rate, stated percentage	5.15%
Face value of long-term debt	$ 550	550
4.20% Notes due 2045
Debt Instrument [Line Items]
Debt instrument, interest rate, stated percentage	4.20%
Face value of long-term debt	$ 250	250
4.25% Notes due 2046
Debt Instrument [Line Items]
Debt instrument, interest rate, stated percentage	4.25%
Face value of long-term debt	$ 500	500
4.20% Notes due 2047
Debt Instrument [Line Items]
Debt instrument, interest rate, stated percentage	4.20%
Face value of long-term debt	$ 500	500
4.85% Notes due 2049
Debt Instrument [Line Items]
Debt instrument, interest rate, stated percentage	4.85%
Face value of long-term debt	$ 500	500
3.95% Notes due 2050
Debt Instrument [Line Items]
Debt instrument, interest rate, stated percentage	3.95%
Face value of long-term debt	$ 800	$ 800

Debt - Narrative (Details)

Debt - Narrative (Details)	6 Months Ended
	Jun. 30, 2023 USD ($)	Dec. 31, 2022 USD ($)
Maximum
Debt Instrument [Line Items]
Debt to EBITDA ratio	5
Revolving Credit Facility | Line Of Credit Facility, Tranche One
Debt Instrument [Line Items]
Line of credit facility, maximum borrowing capacity	$ 88,100,000
Revolving Credit Facility | Line Of Credit Facility, Tranche Two
Debt Instrument [Line Items]
Line of credit facility, maximum borrowing capacity	911,900,000
Commercial paper
Debt Instrument [Line Items]
Line of credit facility, maximum borrowing capacity	1,000,000,000
Long term debt	$ 0
Weighted average interest rate	4.80%
Commercial paper | Maximum
Debt Instrument [Line Items]
Debt instrument, term	397 days
Senior Notes | Revolving Credit Facility
Debt Instrument [Line Items]
Line of credit facility, maximum borrowing capacity	$ 1,000,000,000
Unused commitment fee	0.125%
Long term debt	$ 0	$ 0
Obligation for letters of credit	$ 3,500,000	$ 3,500,000
Senior Notes | Revolving Credit Facility | Minimum
Debt Instrument [Line Items]
Unused commitment fee	0.075%
Senior Notes | Revolving Credit Facility | Maximum
Debt Instrument [Line Items]
Unused commitment fee	0.20%
Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate | Revolving Credit Facility
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate	0.10%
Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate | Senior Notes | Revolving Credit Facility | Minimum
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate	0.875%
Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate | Senior Notes | Revolving Credit Facility | Maximum
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate	1.50%

Leases (Details)

Leases (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022
Related Party Transaction [Line Items]
Total lease expense	$ 8,600	$ 10,800	$ 20,000	$ 21,200
Current lease liability	21,300		21,300		$ 31,000
Long-term lease liability	76,700		76,700		116,900
Right-of-use asset	95,400		95,400		149,400
Third-Party Leases
Related Party Transaction [Line Items]
Total lease expense	6,500	6,300	12,900	12,500
Current lease liability	21,300		21,300		21,200
Long-term lease liability	76,700		76,700		82,100
Right-of-use asset	95,400		95,400		104,900
Seabrook | Equity Method Investee
Related Party Transaction [Line Items]
Total lease expense	2,100	$ 4,500	7,100	$ 8,700
Current lease liability	0		0		9,800
Long-term lease liability	0		0		34,800
Right-of-use asset	$ 0		$ 0		$ 44,500

Employee Benefit Plans - Narrat

Employee Benefit Plans - Narrative (Details) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023 USD ($) plan	Jun. 30, 2022 USD ($)	Jun. 30, 2023 USD ($) plan	Jun. 30, 2022 USD ($)
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Defined contribution plan cost | $	$ 3	$ 2.5	$ 7.2	$ 6.6
Number of sponsored pension plans | plan	2		2
Number of sponsored pension plans, non-union employees | plan	1		1
Number of sponsored pension plans, union employees | plan	1		1
Pension Benefits
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Expected future employer contributions | $	$ 23.4		$ 23.4
Other  Postretirement Benefits
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Expected future employer contributions | $	$ 0.8		$ 0.8

Employee Benefit Plans - Schedu

Employee Benefit Plans - Schedule Of Consolidated Net Periodic Benefit Costs (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Pension Benefits
Components of net periodic benefit costs:
Service cost	$ 5	$ 6.6	$ 9.5	$ 13.7
Interest cost	3.2	2.6	6.5	5.3
Expected return on plan assets	(3.1)	(3.1)	(6.2)	(6.5)
Amortization of prior service credit	(0.1)	(0.1)	(0.1)	(0.1)
Amortization of actuarial loss	0.4	1.1	0.8	2.2
Net periodic benefit cost	5.4	7.1	10.5	14.6
Other  Postretirement Benefits
Components of net periodic benefit costs:
Service cost	0	0	0.1	0.1
Interest cost	0.2	0.1	0.3	0.2
Expected return on plan assets	0	0	0	0
Amortization of prior service credit	0	0	0	0
Amortization of actuarial loss	0.1	0.1	0.1	0.2
Net periodic benefit cost	$ 0.3	$ 0.2	$ 0.5	$ 0.5

Employee Benefit Plans - Sche_2

Employee Benefit Plans - Schedule of Amounts Recognized in Other Comprehensive Income (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Changes in AOCL [Roll Forward]
Beginning balance	$ (1,681.4)	$ (1,802.7)	$ (1,684.9)	$ (1,899.8)
Net actuarial gain (loss)	(2.6)	1.1	(2.6)	1.1
Recognition of prior service credit amortization in income	(0.1)	(0.1)	(0.1)	(0.1)
Recognition of actuarial loss amortization in income	0.5	1.2	0.9	2.4
Ending balance	(1,714.5)	(1,759.4)	(1,714.5)	(1,759.4)
Pension Benefits
Changes in AOCL [Roll Forward]
Net actuarial gain (loss)	(0.9)	(1.3)	(0.9)	(1.3)
Recognition of prior service credit amortization in income	(0.1)	(0.1)	(0.1)	(0.1)
Recognition of actuarial loss amortization in income	0.4	1.1	0.8	2.2
Other  Postretirement Benefits
Changes in AOCL [Roll Forward]
Net actuarial gain (loss)	(1.7)	2.4	(1.7)	2.4
Recognition of prior service credit amortization in income	0	0	0	0
Recognition of actuarial loss amortization in income	0.1	0.1	0.1	0.2
Accumulated Other Comprehensive Loss | Pension Benefits
Changes in AOCL [Roll Forward]
Beginning balance	(41.8)	(91.7)	(42.2)	(92.8)
Ending balance	(42.4)	(92)	(42.4)	(92)
Accumulated Other Comprehensive Loss | Other  Postretirement Benefits
Changes in AOCL [Roll Forward]
Beginning balance	(3.7)	(10.6)	(3.7)	(10.7)
Ending balance	$ (5.3)	$ (8.1)	$ (5.3)	$ (8.1)

Long-Term Incentive Plan - Narr

Long-Term Incentive Plan - Narrative (Details) - shares	Feb. 08, 2023	Jun. 30, 2023
Share-Based Payment Arrangement [Abstract]
Limited partners' capital account, units authorized for issuance (in shares)		13,700,000
Limited partner unitholders, units remaining available (in shares)		1,300,000
Share-based compensation arrangement by share-based payment award, grants in period (in shares)	487,369
Vesting period	3 years

Long-Term Incentive Plan - Equi

Long-Term Incentive Plan - Equity-Based Incentive Compensation Expense (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Share-based Compensation Arrangements by Share-based Payment Award [Line Items]
Allocation of LTIP expense on consolidated statements of income	$ 7.8	$ 8.5	$ 14.2	$ 22.9
Performance-based awards
Share-based Compensation Arrangements by Share-based Payment Award [Line Items]
Allocation of LTIP expense on consolidated statements of income	5.2	4.6	9.9	12.6
Time-based awards
Share-based Compensation Arrangements by Share-based Payment Award [Line Items]
Allocation of LTIP expense on consolidated statements of income	$ 2.6	$ 3.9	$ 4.3	$ 10.3

Derivative Financial Instrume_3

Derivative Financial Instruments - Schedule Of NYMEX Contracts And Butane Price Swap Purchase Agreements (Details) barrel in Millions	Jun. 30, 2023 barrel
Economic Hedges
Derivative [Line Items]
Nonmonetary notional amount	4.7
Economic Hedges Futures
Derivative [Line Items]
Nonmonetary notional amount	1.3

Derivative Financial Instrume_4

Derivative Financial Instruments - Narrative (Details) - USD ($) $ in Millions	Jun. 30, 2023	Dec. 31, 2022
Derivative [Line Items]
Margin deposits	$ (16.2)	$ (14.8)
Cash flow hedge loss to be reclassified within twelve months	$ (3.5)

Derivative Financial Instrume_5

Derivative Financial Instruments - Schedule of Derivative Offset Amounts (Details) - Exchange Traded - USD ($) $ in Millions	Jun. 30, 2023	Dec. 31, 2022
Derivative [Line Items]
Gross Amounts of Recognized Liabilities	$ 16.1	$ (18.2)
Gross Amounts of Assets Offset in the Consolidated Balance Sheets	(9)	9.3
Net Amounts of Liabilities Presented in the Consolidated Balance Sheets	7.1	(8.9)
Margin Deposit Amounts Not Offset in the Consolidated Balance Sheets	16.2	14.8
Net Asset Amount	$ 9.1	$ 5.9

Derivative Financial Instrume_6

Derivative Financial Instruments - Derivatives and Hedging-Cash Flow Hedges (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Derivative Gains Included in AOCI [Roll Forward]
Beginning balance	$ 1,681.4	$ 1,802.7	$ 1,684.9	$ 1,899.8
Reclassification of net loss on cash flow hedges to income	0.9	0.9	1.8	1.8
Ending balance	1,714.5	1,759.4	1,714.5	1,759.4
Derivative Losses Included in AOCL
Derivative Gains Included in AOCI [Roll Forward]
Beginning balance	(47.1)	(50.6)	(48)	(51.5)
Ending balance	$ (46.2)	$ (49.7)	$ (46.2)	$ (49.7)

Derivative Financial Instrume_7

Derivative Financial Instruments - Derivatives and Hedging Effect on Consolidated Statements of Income (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Derivative [Line Items]
Reclassification of net loss on cash flow hedges to income	$ (0.9)	$ (0.9)	$ (1.8)	$ (1.8)
Interest Rate Contract | Cash Flow Hedging | Designated as Hedging Instrument | Interest Expense
Derivative [Line Items]
Reclassification of net loss on cash flow hedges to income	$ (0.9)	$ (0.9)	$ (1.8)	$ (1.8)

Derivative Financial Instrume_8

Derivative Financial Instruments - Derivatives And Hedging-Overall-Subsequent Measurement (Details) - Not Designated as Hedging Instrument - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain (Loss) Recognized on Derivatives	$ 1.1	$ (96.4)	$ 8.3	$ (206.3)
Commodity Contract | Product sales revenue
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain (Loss) Recognized on Derivatives	11.7	(89)	18.1	(205.4)
Commodity Contract | Cost of product sales
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain (Loss) Recognized on Derivatives	(10.6)	(7.4)	(9.8)	1.2
Energy Related Derivative
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain (Loss) Recognized on Derivatives	$ 0	$ 0	$ 0	$ (2.1)

Derivative Financial Instrume_9

Derivative Financial Instruments - Derivatives and Hedging - Designated (Details) - Not Designated as Hedging Instrument - Commodity Contract - USD ($) $ in Millions	Jun. 30, 2023	Dec. 31, 2022
Other current assets
Derivatives, Fair Value [Line Items]
Derivative asset, fair value	$ 9	$ 9.3
Other current liabilities
Derivatives, Fair Value [Line Items]
Derivative liability, fair value	$ 16.1	$ 18.2

Fair Value - Narrative (Details

Fair Value - Narrative (Details) $ in Millions	3 Months Ended	6 Months Ended
	Dec. 31, 2020 terminal	Jun. 30, 2023 USD ($) terminal
Derivative [Line Items]
Number of marine terminals sold | terminal	3	3
Equity Method Investment, Other than Temporary Impairment | $		$ 58.4

Fair Value - Schedule Of Carryi

Fair Value - Schedule Of Carrying Amounts And Fair Values Of Financial Assets/Liabilities (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Fair Value, Inputs, Level 1
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term receivables	$ 0	$ 0
Contractual obligations	0	0
Debt	0	0
Fair Value, Inputs, Level 1 | Double Eagle
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Investment in Double Eagle		0
Fair Value, Inputs, Level 1 | Commodity Contract
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative liability	3,100	1,400
Fair Value, Inputs, Level 2
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term receivables	0	0
Contractual obligations	0	0
Debt	(4,106,500)	(4,232,500)
Fair Value, Inputs, Level 2 | Double Eagle
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Investment in Double Eagle		0
Fair Value, Inputs, Level 2 | Commodity Contract
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative liability	(10,200)	(10,300)
Fair Value, Inputs, Level 3
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term receivables	8,100	8,300
Contractual obligations	(9,400)	(9,600)
Debt	0	0
Fair Value, Inputs, Level 3 | Double Eagle
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Investment in Double Eagle		11,800
Fair Value, Inputs, Level 3 | Commodity Contract
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative liability	0	0
Carrying Amount
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term receivables	8,100	8,300
Contractual obligations	(9,400)	(9,600)
Debt	(4,984,100)	(5,015,000)
Carrying Amount | Double Eagle
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Investment in Double Eagle		11,800
Carrying Amount | Commodity Contract
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative liability	(7,100)	(8,900)
Fair Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term receivables	8,100	8,300
Contractual obligations	(9,400)	(9,600)
Debt	(4,106,500)	(4,232,500)
Fair Value | Double Eagle
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Investment in Double Eagle		11,800
Fair Value | Commodity Contract
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative liability	$ (7,100)	$ (8,900)

Commitments and Contingencies (

Commitments and Contingencies (Details) $ in Millions	3 Months Ended			6 Months Ended
	Jun. 30, 2023 USD ($)	Jun. 30, 2022 USD ($)	Dec. 31, 2020 terminal	Jun. 30, 2023 USD ($) terminal	Jun. 30, 2022 USD ($)	Dec. 31, 2022 USD ($)
Loss Contingencies [Line Items]
Liabilities recognized for estimated environmental costs	$ 9			$ 9		$ 10.2
Environmental expenses	0.2	$ 0.6		$ 0.6	$ 1.5
Number of marine terminals sold | terminal			3	3
Performance Guarantee | Other current liabilities
Loss Contingencies [Line Items]
Contractual obligations	0.6			$ 0.6		0.6
Performance Guarantee | Other Noncurrent Liabilities
Loss Contingencies [Line Items]
Contractual obligations	$ 8			$ 8		8.2
Powder Springs Logistics, LLC
Loss Contingencies [Line Items]
Interest in equity method investment	50%			50%
Powder Springs Logistics, LLC | Guarantee of Indebtedness of Others | Equity Method Investee
Loss Contingencies [Line Items]
Contractual obligations	$ 0.8			$ 0.8		$ 0.8
Interest in equity method investment	50%			50%
Guarantor obligations, maximum exposure, undiscounted	$ 50			$ 50
Settled Litigation | Unfavorable Regulatory Action | Powder Springs Logistics, LLC | Sunoco v.s. Magellan
Loss Contingencies [Line Items]
Damages awarded				$ 23

Related Party Transactions (Det

Related Party Transactions (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022
Related Party Transaction [Line Items]
Total revenue	$ 877.2	$ 788.6	$ 1,746.9	$ 1,463.3
Trade accounts receivable	169.5		169.5		$ 219.9
Transportation and terminals revenue
Related Party Transaction [Line Items]
Total revenue	503.2	469.3	957.3	892.2
Transportation and terminals revenue | Transferred over Time
Related Party Transaction [Line Items]
Total revenue	503.2	469.3	957.3	892.2
Related Party
Related Party Transaction [Line Items]
Total revenue	5.3	5.6	10.8	11.3
Director | Methvin Company | Related Party
Related Party Transaction [Line Items]
Trade accounts receivable	7.2		7.2		$ 6.8
Director | Methvin Company | Related Party | Transportation and terminals revenue | Transferred over Time
Related Party Transaction [Line Items]
Total revenue	$ 20.9	$ 14.9	$ 42.2	$ 30

Partners' Capital and Distrib_3

Partners' Capital and Distributions - Narrative (Details) $ in Billions	Jun. 30, 2023 USD ($)
Partners' Capital [Abstract]
Stock repurchase program, authorized amount	$ 1.5

Partners' Capital and Distrib_4

Partners' Capital and Distributions - Schedule of Capital Units (Details)	6 Months Ended
	Jun. 30, 2023 shares
Increase (Decrease) in Partners' Capital [Roll Forward]
Limited partner units outstanding, beginning balance (in shares)	203,033,837
Units repurchased (in shares)	(1,198,222)
Limited partner units outstanding, ending balance (in shares)	202,095,600
Management
Increase (Decrease) in Partners' Capital [Roll Forward]
Units issued (in shares)	223,168
Director
Increase (Decrease) in Partners' Capital [Roll Forward]
Units issued (in shares)	36,817

Partners' Capital and Distrib_5

Partners' Capital and Distributions - Schedule Of Distributions (Details) - USD ($) $ / shares in Units, $ in Millions								6 Months Ended		9 Months Ended	12 Months Ended
	Aug. 14, 2023	May 15, 2023	Feb. 14, 2023	Nov. 14, 2022	Aug. 12, 2022	May 13, 2022	Feb. 14, 2022	Jun. 30, 2023	Jun. 30, 2022	Sep. 30, 2023	Dec. 31, 2022	Dec. 31, 2023
Distribution Made to Limited Partner [Line Items]
Cash distribution per unit (in dollars per share)		$ 1.0475	$ 1.0475	$ 1.0475	$ 1.0375	$ 1.0375	$ 1.0375	$ 2.0950	$ 2.0750		$ 4.1600
Total cash distribution to limited partners		$ 211.7	$ 213	$ 214.7	$ 215.2	$ 219.5	$ 220.6	$ 424.7	$ 440.1		$ 870
Scenario, Forecast
Distribution Made to Limited Partner [Line Items]
Cash distribution per unit (in dollars per share)	$ 1.0475											$ 3.1425
Total cash distribution to limited partners	$ 211.7									$ 636.4

Subsequent Events (Details)

Subsequent Events (Details) - $ / shares	Dec. 31, 2023	Aug. 14, 2023	Jun. 30, 2023	May 15, 2023	Feb. 14, 2023	Dec. 31, 2022	Nov. 14, 2022	Aug. 12, 2022	Jun. 30, 2022	May 13, 2022	Feb. 14, 2022
Subsequent Event [Line Items]
Cash distribution per unit (in dollars per share)			$ 2.0950	$ 1.0475	$ 1.0475	$ 4.1600	$ 1.0475	$ 1.0375	$ 2.0750	$ 1.0375	$ 1.0375
Scenario, Forecast
Subsequent Event [Line Items]
Cash distribution per unit (in dollars per share)	$ 3.1425	$ 1.0475