Sunoco LP
For the period ended Jun 30, 2025. Filed Aug 7, 2025.
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Jun 30, 2025 · Filed Aug 7, 2025
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6. Investments in Unconsolidated Affiliates
- Investments in Unconsolidated Affiliates
The carrying value of our investment in J.C. Nolan was $121 million and$123 millionas of June 30, 2025 and December 31, 2024, respectively. For the three months ended June 30, 2025 and 2024, we recorded equity in earnings from J.C. Nolan of $1 million and $2 million, respectively. For the six months ended June 30, 2025 and 2024, we recorded equity in earnings from J.C. Nolan of$3 million and$4 million, respectively.
The carrying value of our investment in ET-S Permian was$1.16 billion and $1.21 billion as of June 30, 2025 and December 31, 2024, respectively. We recorded equityin earnings from ET-S Permian of $30 million for the three months ended June 30, 2025 and $60 million for the six months ended June 30, 2025. ET-S Permian was formed in July 2024; therefore, our consolidated financial statements for the three and six months ended June 30, 2024 did not reflect any equity in earnings from this joint venture.
The following tables present selected balance sheet and income statement data for ET-S Permian:
| June 30,2025 | December 31,2024 | |
|---|---|---|
| Current assets | $2,849 | $273 |
| Property, plant and equipment, net | 3,326 | 3,302 |
| Other assets | 323 | 311 |
| Total assets | $6,498 | $3,886 |
| Current liabilities | $2,906 | $106 |
| Non-current liabilities | 35 | 50 |
| Equity | 3,557 | 3,730 |
| Total liabilities and equity | $6,498 | $3,886 |
| Three Months Ended June 30, 2025 | Six Months Ended June 30, 2025 | |
|---|---|---|
| Revenues (1) | $5,632 | $9,092 |
| Operating income | 97 | 189 |
| Net income | 93 | 185 |
(1)Includes transactions with affiliates for the three and six months ended June 30, 2025 of $5.55 billion and $8.90 billion, respectively.
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