Sunoco LP
For the period ended Dec 31, 2025. Filed Feb 19, 2026.
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FY2025 · Filed Feb 19, 2026
SUN$63.21+0.8%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Item 8. Consolidated Statements of Cash Flows
CONSOLIDATED STATEMENTS OF CASH FLOWS
| Year Ended December 31, | |||
|---|---|---|---|
| 2025 | 2024 | 2023 | |
| OPERATING ACTIVITIES: | |||
| Net income | $527 | $874 | $394 |
| Reconciliation of net income to net cash provided by operating activities: | |||
| Depreciation, amortization and accretion | 688 | 368 | 187 |
| Amortization of deferred financing fees | 27 | 24 | 8 |
| (Gain) loss on disposal of assets and impairment charges | (6) | 45 | (7) |
| Loss on extinguishment of debt | 31 | 2 | — |
| Gain on West Texas Sale | — | (586) | — |
| Other non-cash, net | 40 | (7) | — |
| Non-cash unit-based compensation expense | 19 | 17 | 17 |
| Deferred income tax expense (benefit) | 38 | (14) | 13 |
| Inventory valuation adjustments | 156 | 86 | 114 |
| Equity in earnings of unconsolidated affiliates | (143) | (60) | (5) |
| Distribution from unconsolidated affiliates | 196 | — | — |
| Net change in operating assets and liabilities, net of effects of acquisitions and divestitures | (381) | (200) | (121) |
| Net cash provided by operating activities | 1,192 | 549 | 600 |
| INVESTING ACTIVITIES: | |||
| Capital expenditures | (577) | (344) | (215) |
| Parkland Acquisition, net of cash acquired | (2,004) | — | — |
| NuStar Acquisition, net of cash acquired | — | 27 | — |
| Cash paid for other acquisitions | (253) | (224) | (111) |
| Contributions to unconsolidated affiliate | (73) | — | — |
| Proceeds from West Texas Sale | — | 987 | — |
| Distributions from unconsolidated affiliates in excess of cumulative earnings | 72 | 8 | 9 |
| Proceeds from disposal of property, plant and equipment | 28 | 23 | 31 |
| Other | — | — | (2) |
| Net cash provided by (used in) investing activities | (2,807) | 477 | (288) |
| FINANCING ACTIVITIES: | |||
| Senior notes borrowings | 2,900 | 1,500 | 500 |
| Senior notes repayments | (600) | (421) | — |
| GoZone bond repayment | (75) | — | — |
| GoZone bond remarketing | 75 | — | — |
| Credit Facility borrowings | 2,081 | 2,786 | 3,283 |
| Credit Facility repayments | (2,284) | (3,449) | (3,772) |
| Parkland credit facility repayment | (444) | — | — |
| Loan origination costs | (57) | (19) | (5) |
| Series A Preferred Units issuance | 1,473 | — | — |
| Preferred units redemption | — | (784) | — |
| Cash distributions to unitholders, including incentive distributions | (657) | (566) | (371) |
| Cash distributions to noncontrolling interests | — | (8) | — |
| Net cash provided by (used in) financing activities | 2,412 | (961) | (365) |
| Net increase (decrease) in cash and cash equivalents | 797 | 65 | (53) |
| Cash and cash equivalents, beginning of period | 94 | 29 | 82 |
| Cash and cash equivalents, end of period | $891 | $94 | $29 |
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