Sunoco LP
For the period ended Mar 31, 2025. Filed May 8, 2025.
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Mar 31, 2025 · Filed May 8, 2025
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6. Investments in Unconsolidated Affiliates
- Investments in Unconsolidated Affiliates
Our investment in J.C. Nolan was $123 million as of March 31, 2025 and December 31, 2024. We recorded equity in earnings from J.C. Nolan of $2 million for the three months ended March 31, 2025 and 2024.
Our investment in ET-S Permianwas $1.15 billion and $1.21 billion as of March 31, 2025 and December 31, 2024, respectively. We recorded equity in earnings from ET-S Permian of $30 million forthe three months ended March 31, 2025. ET-S Permian was formed in July 2024; therefore, our consolidated financial statements for the three months ended March 31, 2024 did not reflect any equity in earnings from this joint venture.
As of March 31, 2025, ET-S Permian had current assets of $130 million, non-current assets of $3.65 billion, current liabilities of $200 million and non-current liabilities of $28 million. As of December 31, 2024, ET-S Permian had current assets of $273 million, non-current assets of $3.61 billion, current liabilities of $106 million and non-current liabilities of $50 million. For the three months ended March 31, 2025, ET-S Permian recognized revenues of $3.46 billion, of which approximately $3.35 billion related to transactions with affiliates, operating income of $92 million and net income of $92 million.
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