ENTERPRISE PRODUCTS PARTNERS LP
For the period ended Jun 30, 2024. Filed Aug 9, 2024.
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Jun 30, 2024 · Filed Aug 9, 2024
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3. Inventories
Note 3. Inventories
Our inventory amounts by product type were as follows at the dates indicated:
| June 30,2024 | December 31,2023 | |
|---|---|---|
| NGLs | $2,232 | $2,392 |
| Petrochemicals and refined products | 530 | 536 |
| Crude oil | 587 | 419 |
| Natural gas | 7 | 5 |
| Total | $3,356 | $3,352 |
Due to fluctuating commodity prices, we recognize lower of cost or net realizable value adjustments when the carrying value of our available-for-sale inventories exceeds their net realizable value. The following table presents our total cost of sales amounts and lower of cost or net realizable value adjustments for the periods indicated:
| For the Three MonthsEnded June 30, | For the Six MonthsEnded June 30, | |||
|---|---|---|---|---|
| 2024 | 2023 | 2024 | 2023 | |
| Cost of sales (1) | $10,184 | $7,679 | $21,589 | $17,010 |
| Lower of cost or net realizable value adjustments recognized in cost of sales | 1 | 2 | 2 | 9 |
| (1) | Cost of sales is a component of “Operating costs and expenses” as presented on our Unaudited Condensed Statements of Consolidated Operations. Fluctuations in these amounts are primarily due to changes in energy commodity prices and sales volumes associated with our marketing activities. |
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