Sunoco LP (SUN) financial statements: income statement, balance sheet and cash flow
Sunoco LP's income statement, balance sheet and cash flow statement as filed with the SEC (10-K and 10-Q), with the latest fiscal years and quarters. In its latest fiscal year (Dec 31, 2025 · FY), Sunoco LP reported revenue of $25.2B (+11.1% year on year) and net income of $527.0M (-39.1% year on year).
Income statement
Sunoco LP income statement, fiscal years
Line item
Dec 31, 2025 · FY
Dec 31, 2024 · FY
Dec 31, 2023 · FY
Dec 31, 2022 · FY
Revenues
$25.2B
$22.7B
$23.1B
$25.7B
Cost of sales (excluding items shown separately below)
$22.4B
$20.6B
$21.7B
$24.4B
General and administrative
$296.0M
$277.0M
$126.0M
$120.0M
Operating expenses
$765.0M
$545.0M
$356.0M
$338.0M
Lease expense
$114.0M
$72.0M
$68.0M
$63.0M
(Gain) loss on disposal of assets and impairment charges
$6.0M
($45.0M)
$7.0M
$13.0M
Depreciation, amortization and accretion
$688.0M
$368.0M
$187.0M
$193.0M
Total cost of sales and operating expenses
$24.3B
$21.9B
$22.4B
$25.1B
OPERATING INCOME
$935.0M
$791.0M
$635.0M
$678.0M
Interest expense, net
($541.0M)
($391.0M)
($217.0M)
($182.0M)
Other Nonoperating Income (Expense)
$83.0M
$5.0M
—
—
Equity in earnings of unconsolidated affiliates
$143.0M
$60.0M
$5.0M
$4.0M
Gain on West Texas Sale
$0
$586.0M
—
—
Loss on extinguishment of debt
($31.0M)
($2.0M)
$0
$0
INCOME BEFORE INCOME TAXES
$589.0M
$1.0B
$430.0M
$501.0M
Income tax expense
$62.0M
$175.0M
$36.0M
$26.0M
Net income (loss) and comprehensive income (loss)
$527.0M
$874.0M
—
—
Net Income (Loss) Attributable to Noncontrolling Interest
$0
$8.0M
—
—
NET INCOME ATTRIBUTABLE TO COMMON UNITS
$527.0M
$866.0M
$394.0M
$475.0M
Comprehensive income attributable to Preferred unitholders
$34.0M
—
—
—
Comprehensive income attributable to Class D unitholder
($9.0M)
—
—
—
Net Income (Loss) Available to Common Stockholders, Basic
$502.0M
—
—
—
Common units - basic
$2.29
$6.04
$3.7
$4.74
Common - diluted
$2.28
$6
$3.65
$4.68
Common units - basic
136.5M
118.5M
84.1M
83.8M
Common units - diluted
137.2M
119.3M
85.1M
84.8M
CASH DISTRIBUTION PER COMMON UNIT
$3.66
$3.51
$3.37
$3.3
Sunoco LP income statement, quarters
Line item
Jun 30, 2026 · Q2
Mar 31, 2026 · Q1
Sep 30, 2025 · Q3
Jun 30, 2025 · Q2
Revenues
$14.3B
$10.7B
$6.0B
$5.4B
Cost of sales (excluding items shown separately below)
$12.8B
$9.0B
$5.4B
$4.8B
Operating expenses
$381.0M
$330.0M
$162.0M
$50.0M
General and administrative
$159.0M
$155.0M
$51.0M
$145.0M
Lease expense
$56.0M
$53.0M
$19.0M
$19.0M
Loss on disposal of assets and impairment charges
$3.0M
($1.0M)
$3.0M
($2.0M)
Depreciation, amortization and accretion
$282.0M
$286.0M
$159.0M
$154.0M
Total cost of sales and operating expenses
$13.7B
$9.8B
$5.8B
$5.2B
OPERATING INCOME
$583.0M
$866.0M
$252.0M
$203.0M
Interest expense, net
($204.0M)
($201.0M)
($131.0M)
($123.0M)
Equity in earnings of unconsolidated affiliates
$47.0M
$42.0M
$40.0M
$31.0M
Loss on extinguishment of debt
$0
($1.0M)
($12.0M)
($17.0M)
Other, net
($64.0M)
($27.0M)
($1.0M)
($1.0M)
INCOME BEFORE INCOME TAXES
$362.0M
$679.0M
$148.0M
$93.0M
Income tax expense
$79.0M
$35.0M
$11.0M
$7.0M
NET INCOME
$283.0M
$644.0M
$137.0M
$86.0M
Less: Preferred unitholders' interest in net income
($29.0M)
$30.0M
—
—
Interest in net income attributable to Class D unitholder
($49.0M)
$149.0M
—
—
NET INCOME ATTRIBUTABLE TO COMMON UNITS
$205.0M
$465.0M
—
—
Basic
$0.94
$2.86
$0.64
$0.33
Diluted
$0.94
$2.85
$0.64
$0.33
Basic
136.9M
136.9M
136.6M
136.4M
Diluted
137.7M
137.6M
137.3M
137.1M
Balance sheet
Sunoco LP balance sheet, fiscal years
Line item
Dec 31, 2025 · FY
Dec 31, 2024 · FY
Dec 31, 2023 · FY
Dec 31, 2022 · FY
Cash and cash equivalents
$891.0M
$94.0M
$29.0M
$82.0M
Accounts receivable, net
$2.0B
$1.2B
$856.0M
$890.0M
Inventories, net
$2.4B
$1.1B
$889.0M
$821.0M
Other current assets
$270.0M
$141.0M
$133.0M
$175.0M
Total current assets
$5.5B
$2.5B
$1.9B
$2.0B
Property, plant and equipment
$15.3B
$8.9B
$3.0B
$2.8B
Accumulated depreciation
($1.8B)
($1.2B)
($1.1B)
($1.0B)
Property, plant and equipment, net
$13.4B
$7.7B
$1.8B
$1.8B
Operating lease right-of-use assets, net
$1.4B
$477.0M
$506.0M
$524.0M
Goodwill
$3.0B
$1.5B
$1.6B
$1.6B
Intangible assets, net
$2.4B
$547.0M
$544.0M
$588.0M
Other non-current assets
$928.0M
$400.0M
$290.0M
$236.0M
Investments in unconsolidated affiliates
$1.6B
$1.3B
$124.0M
$129.0M
Total assets
$28.4B
$14.4B
$6.8B
$6.8B
Accounts payable
$2.8B
$1.5B
$828.0M
$966.0M
Accrued expenses and other current liabilities
$953.0M
$457.0M
$353.0M
$310.0M
Operating lease current liabilities
$211.0M
$34.0M
$22.0M
$21.0M
Current maturities of long-term debt
$17.0M
$2.0M
—
$0
Total current liabilities
$4.0B
$1.9B
$1.4B
$1.4B
Operating lease non-current liabilities
$1.3B
$479.0M
$511.0M
$528.0M
Long-term debt, net
$13.4B
$7.5B
$3.6B
$2.7B
Deferred tax liabilities
$1.1B
$157.0M
$166.0M
$156.0M
Other non-current liabilities
$512.0M
$158.0M
$116.0M
$111.0M
Other Liabilities
$78.0M
$82.0M
$102.0M
—
Total liabilities
$20.4B
$10.3B
$5.8B
$5.9B
Preferred Stock, Value, Outstanding
$1.5B
—
—
—
Preferred Units, Outstanding
$1.5M
—
—
—
Preferred Units, Issued
$1.5M
—
—
—
Total equity
$6.5B
$4.1B
$978.0M
$942.0M
Accumulated Other Comprehensive Income (Loss), Net of Tax
($6.0M)
$2.0M
—
—
Equity, Including Portion Attributable to Noncontrolling Interest
$8.0B
—
—
—
Total liabilities and equity
$28.4B
$14.4B
$6.8B
$6.8B
Limited partner interest, units outstanding (in units)
$51.5M
—
—
—
Limited partner interest, units issued (in shares)
51.5M
—
—
—
Sunoco LP balance sheet, quarters
Line item
Jun 30, 2026
Mar 31, 2026
Sep 30, 2025
Jun 30, 2025
Cash and cash equivalents
$773.0M
$718.0M
$3.2B
$116.0M
Accounts receivable, net
$3.3B
$3.4B
$1.3B
$1.0B
Other Receivables, Net, Current
$66.0M
—
—
—
Inventories, net
$2.4B
$2.3B
$1.1B
$1.2B
Other current assets
$269.0M
$342.0M
$112.0M
$150.0M
Total current assets
$6.8B
$6.8B
$5.8B
$2.5B
Property, plant and equipment
$16.0B
$16.0B
$9.4B
$9.2B
Accumulated depreciation
($2.3B)
($2.2B)
($1.7B)
($1.5B)
Property, plant and equipment, net
$13.7B
$13.8B
$7.7B
$7.7B
Operating lease right-of-use assets, net
$1.5B
$1.5B
$560.0M
$502.0M
Goodwill
$3.1B
$3.1B
$1.5B
$1.5B
Intangible assets, net
$2.3B
$2.4B
$526.0M
$533.0M
Other non-current assets
$963.0M
$1.0B
$476.0M
$486.0M
Investments in unconsolidated affiliates
$1.6B
$1.6B
$1.3B
$1.3B
Total assets
$29.9B
$30.3B
$17.8B
$14.4B
Accounts payable
$3.5B
$3.4B
$1.1B
$927.0M
Accounts payable to affiliates
$496.0M
$374.0M
$205.0M
$221.0M
Accrued expenses and other current liabilities
$1.1B
$923.0M
$522.0M
$448.0M
Operating lease current liabilities
$182.0M
$172.0M
$32.0M
$32.0M
Current maturities of long-term debt
$6.0M
$12.0M
$2.0M
$2.0M
Total current liabilities
$5.3B
$4.9B
$1.9B
$1.6B
Operating lease non-current liabilities
$1.3B
$1.3B
$563.0M
$507.0M
Long-term debt, net
$13.3B
$13.9B
$9.5B
$7.8B
Advances from affiliates
$76.0M
$76.0M
$78.0M
$77.0M
Deferred tax liabilities
$1.1B
$1.2B
$170.0M
$164.0M
Other non-current liabilities
$528.0M
$536.0M
$150.0M
$150.0M
Total liabilities
$21.6B
$21.9B
$12.3B
$10.3B
Preferred Units, Preferred Partners' Capital Accounts
$1.5B
$1.5B
$1.5B
—
Preferred Units, Issued
$1.5M
$1.5M
—
—
Preferred Units, Outstanding
$1.5M
$1.5M
—
—
Limited Partners' Capital Account, Units Issued
$204.8M
$204.8M
$153.0M
—
Common unitholders
$6.9B
$6.9B
$4.1B
$4.1B
Limited Partners' Capital Account, Units Outstanding
$204.8M
$204.8M
$153.0M
—
Accumulated other comprehensive loss
($45.0M)
($16.0M)
($2.0M)
($2.0M)
Total equity
$8.3B
$8.3B
$4.1B
$4.1B
Total liabilities and equity
$29.9B
$30.3B
$17.8B
$14.4B
Cash flow statement
Sunoco LP cash flow statement, fiscal years
Line item
Dec 31, 2025 · FY
Dec 31, 2024 · FY
Dec 31, 2023 · FY
Dec 31, 2022 · FY
Net income
$527.0M
$874.0M
$394.0M
$475.0M
Depreciation, amortization and accretion
$688.0M
$368.0M
$187.0M
$193.0M
Amortization of deferred financing fees
$27.0M
$24.0M
$8.0M
$7.0M
(Gain) loss on disposal of assets and impairment charges
$6.0M
($45.0M)
$7.0M
$13.0M
Loss on extinguishment of debt
$31.0M
$2.0M
$0
$0
Gain on West Texas Sale
$0
($586.0M)
—
—
Other non-cash, net
$40.0M
($7.0M)
—
—
Non-cash unit-based compensation expense
$19.0M
$17.0M
$17.0M
$14.0M
Deferred income tax expense (benefit)
$38.0M
($14.0M)
$13.0M
$28.0M
Inventory valuation adjustments
$156.0M
$86.0M
$114.0M
($5.0M)
Equity in earnings of unconsolidated affiliates
($143.0M)
($60.0M)
($5.0M)
($4.0M)
Proceeds from Equity Method Investment, Distribution
$196.0M
—
—
—
Adjustment to Reconcile Net Income to Cash Provided by (Used in) Operating Activity, Increase (Decrease) in Operating Capital
($381.0M)
—
—
—
Net cash provided by operating activities
$1.2B
$549.0M
$600.0M
$561.0M
Capital expenditures
($577.0M)
($344.0M)
($215.0M)
($186.0M)
Payments to Acquire Businesses, Net of Cash Acquired
($2.3B)
($251.0M)
—
—
Cash Acquired from Acquisition
$0
—
—
—
Contributions to unconsolidated affiliate
($73.0M)
—
—
$0
Proceeds from West Texas Sale
$0
$987.0M
—
—
Distributions from unconsolidated affiliates in excess of cumulative earnings
$72.0M
$8.0M
$9.0M
$8.0M
Proceeds from disposal of property, plant and equipment
$28.0M
$23.0M
$31.0M
$32.0M
Payment for (Proceeds from) Other Investing Activity
$0
$0
($2.0M)
—
Net cash provided by (used in) investing activities
($2.8B)
$477.0M
($288.0M)
($464.0M)
Senior notes borrowings
$3.0B
$1.5B
$500.0M
$0
Senior notes repayments
($675.0M)
($421.0M)
$0
$0
Credit Facility borrowings
$2.1B
$2.8B
$3.3B
$4.1B
Credit Facility repayments
($2.7B)
($3.4B)
($3.8B)
$3.8B
Loan origination costs
($57.0M)
($19.0M)
($5.0M)
—
Proceeds from Issuance of Preferred Stock and Preference Stock
$1.5B
—
—
—
Preferred units redemption
$0
($784.0M)
—
—
Payments of Ordinary Dividends, Noncontrolling Interest
$0
($8.0M)
—
—
Cash distributions to unitholders, including incentive distributions
$657.0M
$566.0M
$371.0M
$359.0M
Net cash provided by (used in) financing activities
$2.4B
($961.0M)
($365.0M)
($40.0M)
Cash and Cash Equivalents, Period Increase (Decrease), Total
$797.0M
$65.0M
($53.0M)
$57.0M
Cash and cash equivalents, beginning of period
$94.0M
$29.0M
—
—
Cash and cash equivalents, end of period
$891.0M
$94.0M
—
—
Sunoco LP cash flow statement, quarters
Line item
Jun 30, 2026 · YTD
Mar 31, 2026 · Q1
Sep 30, 2025 · YTD
Jun 30, 2025 · YTD
NET INCOME
$927.0M
$644.0M
$430.0M
$293.0M
Depreciation, amortization and accretion
$568.0M
$286.0M
$469.0M
$310.0M
Amortization of deferred financing fees
$18.0M
$9.0M
$20.0M
$8.0M
Loss on disposal of assets and impairment charges
$2.0M
($1.0M)
$4.0M
$1.0M
Loss on extinguishment of debt
$1.0M
$1.0M
$31.0M
$19.0M
Other non-cash, net
($17.0M)
($10.0M)
$28.0M
$28.0M
Non-cash unit-based compensation expense
$13.0M
$6.0M
$14.0M
$9.0M
Deferred income tax expense (benefit)
$10.0M
$17.0M
($2.0M)
—
Inventory valuation adjustments
($426.0M)
($444.0M)
($31.0M)
($21.0M)
Loss on foreign currency exchange
$114.0M
—
—
—
Equity in earnings of unconsolidated affiliates
($89.0M)
($42.0M)
($103.0M)
($63.0M)
Distributions from unconsolidated affiliates
$89.0M
$41.0M
$156.0M
$117.0M
Net change in operating assets and liabilities, net of effects of acquisitions and divestitures
$345.0M
($53.0M)
($220.0M)
—
Net cash provided by operating activities
$1.6B
$454.0M
$800.0M
$399.0M
Capital expenditures
($372.0M)
($199.0M)
($418.0M)
($261.0M)
Cash paid for other acquisitions
($341.0M)
($244.0M)
($189.0M)
($104.0M)
Contributions to unconsolidated affiliates
($26.0M)
($10.0M)
($57.0M)
($40.0M)
Distributions from unconsolidated affiliates in excess of cumulative earnings
$37.0M
$20.0M
$59.0M
$47.0M
Other
$4.0M
$3.0M
$11.0M
$8.0M
Net cash used in investing activities
($698.0M)
($430.0M)
($594.0M)
($350.0M)
Senior notes borrowings
$1.2B
$1.2B
$2.9B
$1.0B
Senior notes repayments
($1.6B)
—
($75.0M)
($75.0M)
Credit Facility borrowings
$1.9B
$1.2B
$2.1B
$1.5B
Credit Facility repayments
($1.9B)
($1.1B)
($2.3B)
($1.5B)
Loan origination costs
($15.0M)
($15.0M)
($36.0M)
($13.0M)
Cash distributions to common unitholders, including incentive distributions
($398.0M)
($189.0M)
($488.0M)
($322.0M)
Cash distributions to Class D unitholders
($99.0M)
($48.0M)
—
—
Payments of Ordinary Dividends, Preferred Stock and Preference Stock