2021 Q3 Form 10-Q Financial Statement

#000155227521000045 Filed on November 04, 2021

View on sec.gov

Income Statement

Concept 2021 Q3 2020 Q3 2020 Q2
Revenue $4.779B $2.805B $2.080B
YoY Change 70.37% -35.23% -53.52%
Cost Of Revenue $4.472B $2.497B $1.722B
YoY Change 79.09% -38.18% -59.06%
Gross Profit $307.0M $308.0M $358.0M
YoY Change -0.32% 5.48% 33.09%
Gross Profit Margin 6.42% 10.98% 17.21%
Selling, General & Admin $43.00M $44.00M $41.00M
YoY Change -2.27% -20.0% -18.0%
% of Gross Profit 14.01% 14.29% 11.45%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $45.00M $50.00M $47.00M
YoY Change -10.0% 11.11% 0.0%
% of Gross Profit 14.66% 16.23% 13.13%
Operating Expenses $154.0M $161.0M $150.0M
YoY Change -4.35% -8.0% -12.79%
Operating Profit $153.0M $147.0M $208.0M
YoY Change 4.08% 25.64% 114.43%
Interest Expense $40.00M $43.00M $44.00M
YoY Change -6.98% -4.44% 2.33%
% of Operating Profit 26.14% 29.25% 21.15%
Other Income/Expense, Net $0.00 $0.00
YoY Change -100.0%
Pretax Income $114.0M $105.0M $165.0M
YoY Change 8.57% 45.83% 175.0%
Income Tax $10.00M $5.000M $8.000M
% Of Pretax Income 8.77% 4.76% 4.85%
Net Earnings $104.0M $100.0M $157.0M
YoY Change 4.0% 51.52% 185.45%
Net Earnings / Revenue 2.18% 3.57% 7.55%
Basic Earnings Per Share
Diluted Earnings Per Share $1.230M $1.193M $1.878M
COMMON SHARES
Basic Shares Outstanding
Diluted Shares Outstanding

Balance Sheet

Concept 2021 Q3 2020 Q3 2020 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $88.00M $63.00M $33.00M
YoY Change 39.68% 384.62% -8.33%
Cash & Equivalents $88.00M $63.00M $33.00M
Short-Term Investments
Other Short-Term Assets $126.0M $39.00M $50.00M
YoY Change 223.08% -54.65% -35.06%
Inventory $493.0M $327.0M $283.0M
Prepaid Expenses
Receivables $540.0M $252.0M $270.0M
Other Receivables $106.0M $52.00M $80.00M
Total Short-Term Assets $1.256B $687.0M $642.0M
YoY Change 82.82% -29.54% -41.53%
LONG-TERM ASSETS
Property, Plant & Equipment $1.387B $1.416B $1.439B
YoY Change -2.05% -1.53% 0.0%
Goodwill $1.568B $1.555B $1.555B
YoY Change 0.84% -0.13% -0.19%
Intangibles $545.0M $602.0M $617.0M
YoY Change -9.47% -9.61% -9.13%
Long-Term Investments $133.0M $137.0M $136.0M
YoY Change -2.92% 22.32%
Other Assets $172.0M $196.0M $184.0M
YoY Change -12.24% 10.73% 15.0%
Total Long-Term Assets $4.329B $4.436B $4.479B
YoY Change -2.41% -1.9% 2.45%
TOTAL ASSETS
Total Short-Term Assets $1.256B $687.0M $642.0M
Total Long-Term Assets $4.329B $4.436B $4.479B
Total Assets $5.585B $5.123B $5.121B
YoY Change 9.02% -6.8% -6.38%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $611.0M $286.0M $296.0M
YoY Change 113.64% -37.28% -44.15%
Accrued Expenses $306.0M $225.0M $242.0M
YoY Change 36.0% -7.41% -20.92%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $6.000M $6.000M $12.00M
YoY Change 0.0% -53.85% 100.0%
Total Short-Term Liabilities $1.005B $660.0M $598.0M
YoY Change 52.27% -17.81% -32.58%
LONG-TERM LIABILITIES
Long-Term Debt $2.922B $2.964B $3.052B
YoY Change -1.42% -3.14% 1.9%
Other Long-Term Liabilities $104.0M $105.0M $97.00M
YoY Change -0.95% -10.26% -18.49%
Total Long-Term Liabilities $104.0M $105.0M $97.00M
YoY Change -0.95% -10.26% -18.49%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.005B $660.0M $598.0M
Total Long-Term Liabilities $104.0M $105.0M $97.00M
Total Liabilities $4.785B $4.488B $4.503B
YoY Change 6.62% -5.22% -4.01%
SHAREHOLDERS EQUITY
Retained Earnings
YoY Change
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $800.0M $635.0M $618.0M
YoY Change
Total Liabilities & Shareholders Equity $5.585B $5.123B $5.121B
YoY Change 9.02% -6.8% -6.38%

Cashflow Statement

Concept 2021 Q3 2020 Q3 2020 Q2
OPERATING ACTIVITIES
Net Income $104.0M $100.0M $157.0M
YoY Change 4.0% 51.52% 185.45%
Depreciation, Depletion And Amortization $45.00M $50.00M $47.00M
YoY Change -10.0% 11.11% 0.0%
Cash From Operating Activities $237.0M $207.0M $217.0M
YoY Change 14.49% 88.18% 47.62%
INVESTING ACTIVITIES
Capital Expenditures $44.00M $21.00M $18.00M
YoY Change 109.52% -55.32% -41.94%
Acquisitions
YoY Change
Other Investing Activities $10.00M $5.000M $1.000M
YoY Change 100.0% -114.29% -95.24%
Cash From Investing Activities -$34.00M -$16.00M -$17.00M
YoY Change 112.5% -80.25% 70.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -202.0M -161.0M -198.0M
YoY Change 25.47% 209.62% 59.68%
NET CHANGE
Cash From Operating Activities 237.0M 207.0M 217.0M
Cash From Investing Activities -34.00M -16.00M -17.00M
Cash From Financing Activities -202.0M -161.0M -198.0M
Net Change In Cash 1.000M 30.00M 2.000M
YoY Change -96.67% -230.43% -84.62%
FREE CASH FLOW
Cash From Operating Activities $237.0M $207.0M $217.0M
Capital Expenditures $44.00M $21.00M $18.00M
Free Cash Flow $193.0M $186.0M $199.0M
YoY Change 3.76% 195.24% 71.55%

Facts In Submission

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dei Document Period End Date
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CY2021Q3 us-gaap Partners Capital
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CY2019Q4 us-gaap Partners Capital
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CY2020Q1 us-gaap Partners Capital Account Unit Based Compensation
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CY2020Q1 us-gaap Partners Capital
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CY2020Q2 us-gaap Limited Partners Capital Account Distribution Amount
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CY2020Q2 us-gaap Partners Capital
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CY2020Q3 us-gaap Partners Capital Account Unit Based Compensation
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CY2020Q3 us-gaap Partners Capital Other
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CY2020Q3 us-gaap Net Income Loss
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100000000 USD
CY2020Q3 us-gaap Partners Capital
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us-gaap Profit Loss
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us-gaap Profit Loss
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129000000 USD
us-gaap Depreciation Amortization And Accretion Net
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135000000 USD
us-gaap Depreciation Amortization And Accretion Net
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us-gaap Amortization Of Financing Costs
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us-gaap Amortization Of Financing Costs
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12000000 USD
us-gaap Gain Loss On Sale Of Property Plant Equipment
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us-gaap Gains Losses On Extinguishment Of Debt
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us-gaap Share Based Compensation
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us-gaap Share Based Compensation
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6000000 USD
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us-gaap Net Cash Provided By Used In Operating Activities
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512000000 USD
us-gaap Net Cash Provided By Used In Operating Activities
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462000000 USD
us-gaap Payments To Acquire Property Plant And Equipment
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92000000 USD
us-gaap Payments To Acquire Property Plant And Equipment
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80000000 USD
us-gaap Payments To Acquire Property Plant And Equipment
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80000000 USD
us-gaap Payments For Advance To Affiliate
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us-gaap Payments For Advance To Affiliate
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8000000 USD
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6000000 USD
us-gaap Proceeds From Equity Method Investment Dividends Or Distributions Return Of Capital
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9000000 USD
us-gaap Payments To Acquire Businesses Net Of Cash Acquired
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6000000 USD
us-gaap Payments To Acquire Businesses Net Of Cash Acquired
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us-gaap Proceeds From Sale Of Property Plant And Equipment
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27000000 USD
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3000000 USD
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126000000 USD
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3000000 USD
us-gaap Income Loss From Equity Method Investments
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3000000 USD
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245000000 USD
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us-gaap Increase Decrease In Inventories
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34000000 USD
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79000000 USD
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us-gaap Increase Decrease In Accounts Payable Trade
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379000000 USD
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-150000000 USD
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us-gaap Proceeds From Sale Of Property Plant And Equipment
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6000000 USD
us-gaap Proceeds From Sale Of Property Plant And Equipment
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6000000 USD
us-gaap Net Cash Provided By Used In Investing Activities
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us-gaap Net Cash Provided By Used In Investing Activities
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us-gaap Repayments Of Long Term Debt
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442000000 USD
us-gaap Repayments Of Long Term Debt
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8000000 USD
us-gaap Proceeds From Lines Of Credit
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878000000 USD
us-gaap Proceeds From Lines Of Credit
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952000000 USD
us-gaap Repayments Of Lines Of Credit
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628000000 USD
us-gaap Repayments Of Lines Of Credit
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1027000000 USD
us-gaap Distribution Made To Limited Partner Cash Distributions Paid
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264000000 USD
us-gaap Distribution Made To Limited Partner Cash Distributions Paid
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264000000 USD
us-gaap Net Cash Provided By Used In Financing Activities
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us-gaap Net Cash Provided By Used In Financing Activities
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us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
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us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
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42000000 USD
CY2020Q4 us-gaap Cash And Cash Equivalents At Carrying Value
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97000000 USD
CY2019Q4 us-gaap Cash And Cash Equivalents At Carrying Value
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21000000 USD
CY2021Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
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CY2020Q3 us-gaap Cash And Cash Equivalents At Carrying Value
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63000000 USD
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us-gaap Notes Issued1
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CY2021Q3 us-gaap Accounts Receivable Net Current
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540000000 USD
CY2021Q3 us-gaap Excise And Sales Taxes
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88000000 USD
CY2020Q3 us-gaap Excise And Sales Taxes
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82000000 USD
us-gaap Excise And Sales Taxes
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252000000 USD
us-gaap Excise And Sales Taxes
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226000000 USD
CY2021Q3 us-gaap Allowance For Doubtful Accounts Receivable Current
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CY2020Q4 us-gaap Allowance For Doubtful Accounts Receivable Current
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CY2020Q4 us-gaap Accounts Receivable Net Current
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us-gaap Inventory Write Down
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CY2021Q3 us-gaap Inventory Adjustments
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CY2020Q4 us-gaap Inventory Adjustments
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311000000 USD
CY2021Q3 us-gaap Inventory Crude Oil Products And Merchandise
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485000000 USD
CY2020Q4 us-gaap Inventory Crude Oil Products And Merchandise
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CY2021Q3 us-gaap Other Inventory Net Of Reserves
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CY2020Q4 us-gaap Other Inventory Net Of Reserves
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CY2021Q3 us-gaap Inventory Net
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CY2020Q4 us-gaap Inventory Net
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CY2021Q3 us-gaap Employee Related Liabilities Current
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CY2020Q4 us-gaap Employee Related Liabilities Current
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23000000 USD
CY2021Q3 us-gaap Taxes Payable Current
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CY2020Q4 us-gaap Taxes Payable Current
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CY2021Q3 us-gaap Accrued Insurance Current
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CY2020Q4 us-gaap Accrued Insurance Current
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CY2021Q3 us-gaap Interest Payable Current
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CY2020Q4 us-gaap Interest Payable Current
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CY2021Q3 us-gaap Deposit Liability Current
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CY2020Q4 us-gaap Deposit Liability Current
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CY2021Q3 us-gaap Accrued Environmental Loss Contingencies Current
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CY2020Q4 us-gaap Other Accrued Liabilities Current
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CY2021Q3 us-gaap Accrued Liabilities Current
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CY2020Q4 us-gaap Accrued Liabilities Current
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CY2021Q3 us-gaap Finance Lease Liability Noncurrent
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CY2020Q4 us-gaap Finance Lease Liability Noncurrent
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CY2021Q3 us-gaap Finance Lease Liability
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CY2020Q4 us-gaap Finance Lease Liability
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CY2021Q3 us-gaap Long Term Debt And Capital Lease Obligations Including Current Maturities
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CY2020Q4 us-gaap Long Term Debt And Capital Lease Obligations Including Current Maturities
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CY2021Q3 us-gaap Long Term Debt And Capital Lease Obligations Current
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CY2020Q4 us-gaap Long Term Debt And Capital Lease Obligations Current
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CY2020Q4 us-gaap Deferred Finance Costs Net
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CY2021Q3 us-gaap Long Term Debt And Capital Lease Obligations
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CY2020Q4 us-gaap Long Term Debt And Capital Lease Obligations
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CY2021Q3 us-gaap Long Term Debt Fair Value
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3000000000 USD
CY2021Q3 us-gaap Asset Retirement Obligation
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77000000 USD
CY2020Q4 us-gaap Asset Retirement Obligation
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75000000 USD
CY2021Q3 us-gaap Accrued Environmental Loss Contingencies Noncurrent
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12000000 USD
CY2020Q4 us-gaap Accrued Environmental Loss Contingencies Noncurrent
AccruedEnvironmentalLossContingenciesNoncurrent
16000000 USD
CY2021Q3 us-gaap Other Sundry Liabilities Noncurrent
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15000000 USD
CY2020Q4 us-gaap Other Sundry Liabilities Noncurrent
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18000000 USD
CY2021Q3 us-gaap Other Liabilities Noncurrent
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104000000 USD
CY2020Q4 us-gaap Other Liabilities Noncurrent
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109000000 USD
CY2021Q3 us-gaap Investments In Affiliates Subsidiaries Associates And Joint Ventures
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133000000 USD
CY2020Q4 us-gaap Investments In Affiliates Subsidiaries Associates And Joint Ventures
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136000000 USD
CY2021Q3 us-gaap Income Loss From Equity Method Investments
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CY2020Q3 us-gaap Income Loss From Equity Method Investments
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us-gaap Income Loss From Equity Method Investments
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us-gaap Income Loss From Equity Method Investments
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CY2021Q3 us-gaap Due To Affiliate Current And Noncurrent
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127000000 USD
CY2020Q4 us-gaap Due To Affiliate Current And Noncurrent
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125000000 USD
CY2021Q3 us-gaap Due From Affiliate Current
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CY2020Q4 us-gaap Due From Affiliate Current
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CY2021Q3 us-gaap Due To Affiliate Current
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63000000 USD
CY2020Q4 us-gaap Due To Affiliate Current
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CY2021Q3 us-gaap Revenues
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CY2020Q3 us-gaap Revenues
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us-gaap Revenues
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us-gaap Revenues
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CY2021Q3 us-gaap Contract With Customer Asset Net
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CY2020Q4 us-gaap Contract With Customer Asset Net
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121000000 USD
CY2021Q3 us-gaap Receivables From Customers
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473000000 USD
CY2020Q4 us-gaap Receivables From Customers
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256000000 USD
CY2021Q3 us-gaap Contract With Customer Liability
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CY2020Q4 us-gaap Contract With Customer Liability
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CY2021Q3 us-gaap Capitalized Contract Cost Amortization
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us-gaap Capitalized Contract Cost Amortization
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CY2020Q3 us-gaap Capitalized Contract Cost Amortization
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us-gaap Capitalized Contract Cost Amortization
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CY2021Q3 us-gaap Lessee Operating Lease Term Of Contract
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CY2021Q3 us-gaap Operating Lease Weighted Average Remaining Lease Term1
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P22Y
CY2020Q3 us-gaap Operating Lease Weighted Average Remaining Lease Term1
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P24Y
CY2021Q3 us-gaap Finance Lease Weighted Average Remaining Lease Term1
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P29Y
CY2020Q3 us-gaap Finance Lease Weighted Average Remaining Lease Term1
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CY2021Q3 us-gaap Operating Lease Weighted Average Discount Rate Percent
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CY2020Q3 us-gaap Operating Lease Weighted Average Discount Rate Percent
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0.06
CY2021Q3 us-gaap Finance Lease Weighted Average Discount Rate Percent
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CY2020Q3 us-gaap Finance Lease Weighted Average Discount Rate Percent
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us-gaap Operating Lease Payments
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us-gaap Operating Lease Payments
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us-gaap Finance Lease Interest Payment On Liability
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1000000 USD
us-gaap Finance Lease Interest Payment On Liability
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us-gaap Finance Lease Principal Payments
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1000000 USD
us-gaap Finance Lease Principal Payments
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us-gaap Right Of Use Asset Obtained In Exchange For Finance Lease Liability
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9000000 USD
us-gaap Right Of Use Asset Obtained In Exchange For Finance Lease Liability
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us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
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us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
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11000000 USD
CY2021Q3 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
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12000000 USD
CY2021Q3 us-gaap Finance Lease Liability Payments Remainder Of Fiscal Year
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CY2021Q3 sun Lease Liabilities Remainderof Year
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12000000 USD
CY2021Q3 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
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48000000 USD
CY2021Q3 us-gaap Finance Lease Liability Payments Due Next Twelve Months
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CY2021Q3 sun Lease Liabilities Due Year One
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CY2021Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Two
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47000000 USD
CY2021Q3 us-gaap Finance Lease Liability Payments Due Year Two
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CY2021Q3 sun Lease Liabilities Due Year Two
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CY2021Q3 sun Lease Liabilities Due After Five Years
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CY2021Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Three
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46000000 USD
CY2021Q3 us-gaap Finance Lease Liability Payments Due Year Three
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CY2021Q3 sun Lease Liabilities Due Year Three
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CY2021Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Four
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46000000 USD
CY2021Q3 us-gaap Finance Lease Liability Payments Due Year Four
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CY2021Q3 sun Lease Liabilities Due Year Four
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46000000 USD
CY2021Q3 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
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812000000 USD
CY2021Q3 us-gaap Finance Lease Liability Payments Due After Year Five
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16000000 USD
CY2021Q3 us-gaap Lessee Operating Lease Liability Payments Due
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CY2021Q3 us-gaap Finance Lease Liability Payments Due
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CY2021Q3 sun Lease Liabilities Due
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CY2021Q3 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
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CY2021Q3 us-gaap Finance Lease Liability Undiscounted Excess Amount
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CY2021Q3 sun Lease Liability Undiscounted Excess Amount
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480000000 USD
CY2021Q3 us-gaap Operating Lease Liability
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538000000 USD
CY2021Q3 us-gaap Finance Lease Liability
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CY2021Q3 sun Lease Liabilities
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CY2021Q3 us-gaap Lessor Operating Lease Term Of Contract
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38000000 USD
CY2020Q3 us-gaap Interest Expense Debt Excluding Amortization
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41000000 USD
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118000000 USD
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128000000 USD
CY2021Q3 us-gaap Amortization Of Financing Costs
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CY2020Q3 us-gaap Amortization Of Financing Costs
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us-gaap Amortization Of Financing Costs
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CY2021Q3 us-gaap Interest Income Money Market Deposits
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CY2020Q3 us-gaap Interest Income Money Market Deposits
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us-gaap Interest Income Money Market Deposits
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CY2021Q3 us-gaap Interest Expense
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CY2020Q3 us-gaap Interest Expense
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us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
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CY2020Q3 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
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22000000 USD
us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
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94000000 USD
us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
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31000000 USD
CY2021Q3 us-gaap Income Tax Reconciliation Tax Exempt Income
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CY2020Q3 us-gaap Income Tax Reconciliation Tax Exempt Income
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18000000 USD
us-gaap Income Tax Reconciliation Tax Exempt Income
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79000000 USD
us-gaap Income Tax Reconciliation Tax Exempt Income
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20000000 USD
CY2021Q3 us-gaap Income Tax Reconciliation State And Local Income Taxes
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2000000 USD
CY2020Q3 us-gaap Income Tax Reconciliation State And Local Income Taxes
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1000000 USD
us-gaap Income Tax Reconciliation State And Local Income Taxes
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5000000 USD
us-gaap Income Tax Reconciliation State And Local Income Taxes
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4000000 USD
CY2021Q3 us-gaap Income Tax Reconciliation Other Adjustments
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2000000 USD
CY2020Q3 us-gaap Income Tax Reconciliation Other Adjustments
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us-gaap Income Tax Reconciliation Other Adjustments
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1000000 USD
CY2021Q3 us-gaap Income Tax Expense Benefit
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CY2020Q3 us-gaap Income Tax Expense Benefit
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us-gaap Proceeds From Sale Of Property Plant And Equipment
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6000000 USD

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