Energy Transfer LP
For the period ended Dec 31, 2025. Filed Feb 19, 2026.
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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.
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Consolidated Statements of Equity
| CommonUnitholders | PreferredUnitholders | GeneralPartner | AccumulatedOtherComprehensiveIncome | Non-controllingInterests | Total | |
|---|---|---|---|---|---|---|
| Balance, December 31, 2022 | $26,960 | $6,051 | $(2) | $16 | $7,634 | $40,659 |
| Distributions to partners | (3,777) | (468) | (3) | — | — | (4,248) |
| Distributions to noncontrolling interests | — | — | — | — | (1,691) | (1,691) |
| Capital contributions from noncontrolling interests | — | — | — | — | 3 | 3 |
| Lotus Midstream acquisition | 574 | — | — | — | — | 574 |
| Crestwood acquisition | 2,953 | 413 | — | — | — | 3,366 |
| Other, net | 18 | — | — | — | 12 | 30 |
| Net income, excluding amounts attributable to redeemable noncontrolling interests | 3,469 | 463 | 3 | — | 1,299 | 5,234 |
| Other comprehensive income, net of tax | — | — | — | 12 | — | 12 |
| Balance, December 31, 2023 | 30,197 | 6,459 | (2) | 28 | 7,257 | 43,939 |
| Distributions to partners | (4,241) | (378) | (4) | — | — | (4,623) |
| Distributions to noncontrolling interests | — | — | — | — | (1,780) | (1,780) |
| Capital contributions from noncontrolling interests | — | — | — | — | 638 | 638 |
| WTG Midstream acquisition | 833 | — | — | — | — | 833 |
| Conversion of USAC preferred to USAC common units | — | — | — | — | 301 | 301 |
| Sunoco LP’s acquisition of NuStar | — | — | — | — | 3,651 | 3,651 |
| Redemption of NuStar preferred units | — | — | — | — | (784) | (784) |
| Redemption of Energy Transfer preferred units | — | (2,645) | — | — | — | (2,645) |
| Other, net | (42) | 54 | — | — | (76) | (64) |
| Net income, excluding amounts attributable to redeemable noncontrolling interests | 4,448 | 362 | 4 | — | 1,692 | 6,506 |
| Other comprehensive income, net of tax | — | — | — | 45 | — | 45 |
| Balance, December 31, 2024 | 31,195 | 3,852 | (2) | 73 | 10,899 | 46,017 |
| Distributions to partners | (4,469) | (252) | (4) | — | — | (4,725) |
| Distributions to noncontrolling interests | — | — | — | — | (1,734) | (1,734) |
| Capital contributions from noncontrolling interests | — | — | — | — | 27 | 27 |
| Conversion of USAC preferred to USAC common units | — | — | — | — | 164 | 164 |
| Sunoco LP acquisitions | — | — | — | — | 2,547 | 2,547 |
| Redemption of Energy Transfer preferred units | — | (500) | — | — | — | (500) |
| Sunoco LP Series A preferred unit issuance | — | — | — | — | 1,487 | 1,487 |
| Other, net | 23 | 8 | — | (6) | 46 | 71 |
| Net income, excluding amounts attributable to redeemable noncontrolling interests | 4,181 | 248 | 4 | — | 1,208 | 5,641 |
| Other comprehensive income, net of tax | — | — | — | 15 | — | 15 |
| Balance, December 31, 2025 | $30,930 | $3,356 | $(2) | $82 | $14,644 | $49,010 |
F - 8
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