Energy Transfer LP
For the period ended Dec 31, 2025. Filed Feb 19, 2026.
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A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2025 · Filed Feb 19, 2026
ET$19.09+0.9%Stored close · as of Nov 9, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Consolidated Balance Sheets
| December 31, | ||
|---|---|---|
| 2025 | 2024 | |
| ASSETS | ||
| Current assets: | ||
| Cash and cash equivalents | $1,272 | $312 |
| Accounts receivable, net | 11,275 | 10,191 |
| Accounts receivable from related companies | 119 | 87 |
| Inventories | 4,770 | 3,070 |
| Income taxes receivable | 57 | 56 |
| Derivative assets | 52 | 9 |
| Other current assets | 688 | 477 |
| Total current assets | 18,233 | 14,202 |
| Property, plant and equipment | 141,283 | 129,242 |
| Accumulated depreciation and depletion | (39,141) | (34,030) |
| Property, plant and equipment, net | 102,142 | 95,212 |
| Investments in unconsolidated affiliates | 3,589 | 3,266 |
| Lease right-of-use assets, net | 1,841 | 809 |
| Other non-current assets, net | 2,591 | 2,017 |
| Intangible assets, net | 7,438 | 5,971 |
| Goodwill | 5,452 | 3,903 |
| Total assets | $141,286 | $125,380 |
F - 4
CONSOLIDATED BALANCE SHEETS (continued)
| December 31, | ||
|---|---|---|
| 2025 | 2024 | |
| LIABILITIES AND EQUITY | ||
| Current liabilities: | ||
| Accounts payable | $9,469 | $8,306 |
| Accounts payable to related companies | 41 | 19 |
| Derivative liabilities | 10 | 15 |
| Operating lease current liabilities | 245 | 67 |
| Accrued and other current liabilities | 5,165 | 4,241 |
| Current maturities of long-term debt | 25 | 8 |
| Total current liabilities | 14,955 | 12,656 |
| Long-term debt, less current maturities | 68,308 | 59,752 |
| Non-current operating lease liabilities | 1,515 | 730 |
| Deferred income taxes | 5,307 | 4,190 |
| Other non-current liabilities | 1,941 | 1,618 |
| Commitments and contingencies | ||
| Redeemable noncontrolling interests | 250 | 417 |
| Equity: | ||
| Limited Partners: | ||
| Preferred Unitholders (44,398,959 and 44,898,959 units authorized, issued and outstanding as of December 31, 2025 and 2024, respectively) | 3,356 | 3,852 |
| Common Unitholders (3,439,986,779 and 3,431,088,022 units authorized, issued and outstanding as of December 31, 2025 and 2024, respectively) | 30,930 | 31,195 |
| General Partner | (2) | (2) |
| Accumulated other comprehensive income | 82 | 73 |
| Total partners’ capital | 34,366 | 35,118 |
| Noncontrolling interests | 14,644 | 10,899 |
| Total equity | 49,010 | 46,017 |
| Total liabilities and equity | $141,286 | $125,380 |
F - 5
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.