Sunoco LP

Listed Company

SUNCIK 0001552275NYSELarge AcceleratedPetroleum RefiningOklahomaFY ends Dec 31

Period

FY 2025

Revenue

$25.20B

Net Income

$527.00M

Total Assets

$28.36B

Equity

—

Shares Out

—

Op. Cash Flow

$1.19B

Business

Sunoco LP is a master limited partnership engaged in energy infrastructure and the distribution of motor fuels. It distributes motor fuels, propane and lubricating oils, and provides storage, transportation, logistics, transmix processing and related terminal services. Its operations are organized into three reportable segments—Fuel Distribution, Pipeline Systems and Terminals—and include joint ventures and strategic interests in gathering and storage systems. The Partnership serves customers across more than 40 U.S. states, Puerto Rico, Europe and Mexico through branded and unbranded wholesale and retail channels.

Summary from filing dated 2025-02-14

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Revenues	25,201	22,693	23,068	25,729	17,596
Cost of sales (excluding items shown separately below)	22,409	20,595	21,703	24,350	16,246
General and administrative	296	277	126	120	109
Operating expenses	765	545	356	338	270
Lease expense	114	72	68	63	59
(Gain) loss on disposal of assets and impairment charges	6	−45	7	13	14
Depreciation, amortization and accretion	688	368	187	193	177
Total cost of sales and operating expenses	24,266	21,902	22,433	25,051	16,847
OPERATING INCOME	935	791	635	678	749
Interest expense, net	−541	−391	−217	−182	−163
Other Nonoperating Income (Expense)	83	5	7	1	—
Equity in earnings of unconsolidated affiliates	143	60	5	4	4
Gain on West Texas Sale	0	586	0	0	—
Loss on extinguishment of debt	−31	−2	0	0	−36
INCOME BEFORE INCOME TAXES	589	1,049	430	501	554
Income tax expense	62	175	36	26	30
Net income (loss) and comprehensive income (loss)	527	874	394	475	—
Net Income (Loss) Attributable to Noncontrolling Interest	0	8	0	0	—
NET INCOME ATTRIBUTABLE TO COMMON UNITS	527	866	394	475	524
Comprehensive income attributable to Preferred unitholders	34	0	0	—	—
Comprehensive income attributable to Class D unitholder	−9	0	0	—	—
Net Income (Loss) Available to Common Stockholders, Basic	502	866	394	—	—
Common units - basic	2.29	6.04	3.7	—	—
Common - diluted	2.28	6	3.65	—	—
CASH DISTRIBUTION PER COMMON UNIT	3.66	3.51	3.37	3.3	3.3

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents	891	94	—	—	25
Inventories, net	2,383	1,068	889	821	534
Other current assets	270	141	133	175	95
Total current assets	5,516	2,465	1,927	1,983	1,192
Property, plant and equipment	15,256	8,914	2,970	2,796	2,581
Accumulated depreciation	−1,848	−1,240	−1,134	−1,036	−914
Property, plant and equipment, net	13,408	7,674	1,836	1,760	1,667
Operating lease right-of-use assets, net	1,449	477	506	524	517
Goodwill	3,026	1,477	1,599	1,601	1,568
Intangible assets, net	2,411	547	544	588	542
Other non-current assets	928	400	290	245	188
Investments in unconsolidated affiliates	1,624	1,335	124	129	132
Total assets	28,362	14,375	6,826	6,830	5,815
Accrued expenses and other current liabilities	953	457	353	310	291
Operating lease current liabilities	211	34	22	21	19
Current maturities of long-term debt	17	2	0	0	6
Total current liabilities	3,997	1,947	1,373	1,406	890
Operating lease non-current liabilities	1,255	479	511	528	521
Long-term debt, net	13,372	7,484	3,580	3,571	2,668
Deferred tax liabilities	1,139	157	166	156	114
Other non-current liabilities	512	158	116	111	104
Total liabilities	20,353	10,307	5,848	5,888	5,004
Commitments and contingencies (Note 15)	—	—	—	—	—
Preferred Stock, Value, Outstanding	1,507	0	—	—	—
Preferred Units, Outstanding	2	—	—	—	—
Preferred Units, Issued	2	—	—	—	—
Accumulated Other Comprehensive Income (Loss), Net of Tax	−6	2	0	—	—
Equity, Including Portion Attributable to Noncontrolling Interest	8,009	4,068	—	—	—
Total liabilities and equity	28,362	14,375	6,826	6,830	5,815
Limited partner interest, units outstanding (in units)	52	—	—	—	—
Limited partner interest, units issued (in shares)	52	—	—	—	—

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Amortization of deferred financing fees	27	24	8	7	7
Other non-cash, net	40	−7	0	0	0
Non-cash unit-based compensation expense	19	17	17	14	16
Deferred income tax expense (benefit)	38	−14	13	28	10
Inventory valuation adjustments	156	86	114	−5	−190
Proceeds from Equity Method Investment, Distribution	196	0	0	—	—
Adjustment to Reconcile Net Income to Cash Provided by (Used in) Operating Activity, Increase (Decrease) in Operating Capital	−381	−200	−121	—	—
Net cash provided by operating activities	1,192	549	600	561	543
Capital expenditures	−577	−344	−215	−186	−174
Contributions to unconsolidated affiliate	−73	0	0	0	0
Proceeds from West Texas Sale	0	987	0	—	—
Distributions from unconsolidated affiliates in excess of cumulative earnings	72	8	9	8	9
Proceeds from disposal of property, plant and equipment	28	23	31	32	34
Payment for (Proceeds from) Other Investing Activity	0	0	−2	0	0
Net cash provided by (used in) investing activities	−2,807	477	−288	−464	−387
Loan origination costs	−57	−19	−5	0	0
Proceeds from Issuance of Preferred Stock and Preference Stock	1,473	0	0	—	—
Preferred units redemption	0	−784	0	0	—
Payments of Ordinary Dividends, Noncontrolling Interest	0	−8	0	0	—
Cash distributions to unitholders, including incentive distributions	657	566	371	359	357
Net cash provided by (used in) financing activities	2,412	−961	−365	−40	−228
Cash and Cash Equivalents, Period Increase (Decrease), Total	797	65	−53	57	−72

Filings

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