Energy Transfer LP 2026年季度报告

Indicate by check mark whether the registrant (1)has filed all reports required to be filed by Section13 or 15(d) of the Securities Exchange Act of1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2)has been subject to suchfiling requirements for the past 90 days.YesNo Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submitsuch files).YesNo Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company oran emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company” and “emerging growthcompany” in Rule 12b-2 of the Exchange Act. Large accelerated filerNon-accelerated filer If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with anynew or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).Yes☐No At July31, 2026, the registrant had 3,443,299,601 common units outstanding. FORM 10-QENERGY TRANSFER LP AND SUBSIDIARIESTABLE OF CONTENTS PART I – FINANCIAL INFORMATIONITEM1. FINANCIAL STATEMENTS (unaudited) Consolidated Balance Sheets5Consolidated Statements of Operations7Consolidated Statements of Comprehensive Income8Consolidated Statements of Equity9Consolidated Statements of Cash Flows10Notes to Consolidated Financial Statements111. Organization and Basis of Presentation112. Acquisitions113. Cash and Cash Equivalents134. Inventories145. Fair Value Measures156. Net Income per Common Unit167. Debt Obligations168. Redeemable Noncontrolling Interests189. Equity1810. Regulatory Matters, Commitments, Contingencies and Environmental Liabilities2011. Revenue3112. Derivative Assets and Liabilities3213. Reportable Segments36ITEM2. MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OFOPERATIONS43Recent Developments43Results of Operations47Liquidity and Capital Resources60Cash Distributions64ITEM3. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK68ITEM4. CONTROLS AND PROCEDURES69PART II – OTHER INFORMATIONITEM1. LEGAL PROCEEDINGS70ITEM1A. RISK FACTORS70ITEM6. EXHIBITS71SIGNATURE72 Definitions References to the “Partnership” or “Energy Transfer” refer to Energy Transfer LP. In addition, the following is a list of certainacronyms and terms used throughout this document: SunocoCorpSunocoCorp LLC (NYSE: SUNC), a subsidiary which owns all of Sunoco LP's outstanding Class D UnitsTanQuidTanQuid GmbH & Co. KGTranswesternTranswestern Pipeline and/or Transwestern Pipeline Company, LLC, a wholly owned subsidiary of EnergyTransferUSACUSA Compression Partners, LP (NYSE: USAC), a publicly traded partnership and consolidated subsidiary ofEnergy TransferWhite CliffsWhite Cliffs Pipeline, L.L.C. PART I – FINANCIAL INFORMATION ITEM1. FINANCIAL STATEMENTS ENERGY TRANSFER LP AND SUBSIDIARIESCONSOLIDATED BALANCE SHEETS(Dollars in millions)(unaudited) ASSETS LIABILITIES AND EQUITY ENERGY TRANSFER LP AND SUBSIDIARIESNOTES TO CONSOLIDATED FINANCIAL STATEMENTS(Tabular dollar and unit amounts, except per unit data, are in millions)(unaudited) 1.ORGANIZATION AND BASIS OF PRESENTATION Organization The consolidated financial statements presented herein contain the results of Energy Transfer LP and its subsidiaries (the“Partnership,” “we,” “us,” “our” or “Energy Transfer”). Basis of Presentation The unaudited financial information included in this Form 10-Q has been prepared on the same basis as the audited consolidatedfinancial statements included in the Partnership’s Annual Report on Form 10-K for the year ended December31, 2025, filed withthe SEC on February19, 2026. In the opinion of the Partnership’s management, such financial information reflects all adjustmentsnecessary for a fair presentation of the financial position and the results of operations for such interim periods in accordance withGAAP. All intercompany items and transactions have been eliminated in consolidation. Certain information and disclosuresnormally included in annual consolidated financial statements prepared in accordance with GAAP have been omitted pursuant tothe rules and regulations of the SEC. The Partnership owns a controlling interest in Sunoco LP. As of June30, 2026, our interest in Sunoco LP consisted of 100% of thegeneral partner interests and incentive distribution rights, as well as 28.5million common units. In addition, the Partnershipcontrols SunocoCorp Management LLC, which controls SunocoCorp. SunocoCor