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Sunoco SUN Pipeline Systems — Goodwill, Acquired During Period

Other segment segments

Fuel Distribution
$1.07B+6,588%
Refinery
$420M
Terminals
$0

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Other financials

Income statement

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Revenue$14.3B+165%
Gross profit$1.5B+157%
Operating income$583.0M+187%
Net income$283.0M+229%
EPS (diluted)$0.94+185%

Balance sheet

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Cash & equivalents$773.0M+566%
Total debt$15.4B+82.1%
Total assets$29.9B+107%

Cash flow

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Operating cash flow$1.1B+353%
CapEx$173.0M+8.1%
Free cash flow$928.0M+1,018%

Valuation

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Market cap$13.82B+91.7%
Enterprise value$28.49B+83.0%
P/E11.9×-4.6×
P/S0.4×0.0×

Profitability

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Gross margin11.9%+1.4pp
Operating margin4.8%+0.9pp
Net margin2.9%+0.9pp
FCF margin4.2%

Returns & leverage

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Current ratio1.3×-0.2×

Where this comes from

Reported directly by Sunoco in its filing.

Tagged under the XBRL concept us-gaap:GoodwillAcquiredDuringPeriod.

The source filing: Sunoco’s 10-K, filed February 19, 2026.

Filed
Feb 19, 2026, 4:26 PM EST
Fiscal year
FY2025
Accession
0001552275-26-000021
Line itemSegment / Fuel DistributionSegment / Pipeline SystemsSegment / TerminalsSegment / RefineryConsolidated
Balance at December 31, 2023$1,362$237$1,599
West Texas Sale(138)(138)
NuStar Acquisition1616
Balance at December 31, 20241,2402371,477
Parkland Acquisition1,070384201,528
Other15621
Balance at December 31, 2025$2,325$38$237$426$3,026

Item 16. Form 10-K Summary

FAQ

What is Sunoco's pipeline systems — goodwill, acquired during period?
Sunoco (SUN) reported pipeline systems — goodwill, acquired during period of $9.5M in Q4 2025.
What does pipeline systems — goodwill, acquired during period mean?
The incremental goodwill recognized by the Pipeline Systems segment resulting from business combinations completed during the current reporting period. It represents the excess purchase price paid over the fair value of acquired net assets.

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