Sunoco LP
For the period ended Sep 30, 2025. Filed Nov 6, 2025.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2025 · Filed Nov 6, 2025
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7. Investments in Unconsolidated Affiliates
- Investments in Unconsolidated Affiliates
The carrying value of our investment in J.C. Nolan was $121 million and $123 million as of September 30, 2025 and December 31, 2024, respectively. For the three months ended September 30, 2025 and 2024, we recorded equity in earnings from J.C. Nolan of $2 million and $1 million, respectively. For the nine months ended September 30, 2025 and 2024, we recorded equity in earnings from J.C. Nolan of $5 million.
The carrying value of our investment in ET-S Permian, which was formed in July 2024, was $1.16 billion and $1.21 billion as of September 30, 2025 and December 31, 2024, respectively. We recorded equity in earnings from ET-S Permian of $38 million for the three months ended September 30, 2025 and $98 million for the nine months ended September 30, 2025. We recorded equity in earnings from ET-S Permian of $30 million for the three and nine months ended September 30, 2024.
The following tables present selected balance sheet and income statement data for ET-S Permian:
| September 30,2025 | December 31,2024 | |
|---|---|---|
| Current assets | $4,629 | $273 |
| Property, plant and equipment, net | 3,341 | 3,302 |
| Other assets | 316 | 311 |
| Total assets | $8,286 | $3,886 |
| Current liabilities | $4,691 | $106 |
| Non-current liabilities | 33 | 50 |
| Equity | 3,562 | 3,730 |
| Total liabilities and equity | $8,286 | $3,886 |
| Three Months Ended September 30, | Nine Months Ended September 30, | |||
|---|---|---|---|---|
| 2025 | 2024 | 2025 | 2024 | |
| Revenues (1) | $5,735 | $3,701 | $14,827 | $3,701 |
| Operating income | 119 | 91 | 308 | 91 |
| Net income | 118 | 90 | 303 | 90 |
(1)Includes transactions with affiliates for the three and nine months ended September 30, 2025 of $5.65 billion and $14.55 billion, respectively, and $3.60 billion for the three and nine months ended September 30, 2024.
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.