Document And Entity Information
Document And Entity Information shares in Thousands | 9 Months Ended |
Sep. 30, 2019shares | |
Entity Information [Line Items] | |
Entity Registrant Name | Energy Transfer Operating, L.P. |
Document Quarterly Report | true |
Document Transition Report | false |
Entity Central Index Key | 0001161154 |
Current Fiscal Year End Date | --12-31 |
Entity Filer Category | Large Accelerated Filer |
Document Type | 10-Q |
Amendment Flag | false |
Document Period End Date | Sep. 30, 2019 |
Entity File Number | 1-31219 |
Document Fiscal Year Focus | 2019 |
Document Fiscal Period Focus | Q3 |
Entity Emerging Growth Company | false |
Entity Small Business | false |
Entity Current Reporting Status | Yes |
Entity Interactive Data Current | Yes |
Entity Shell Company | false |
Entity Incorporation, State or Country Code | DE |
Entity Tax Identification Number | 73-1493906 |
Entity Address, Address Line One | 8111 Westchester Drive |
Entity Address, Address Line Two | Suite 600 |
Entity Address, City or Town | Dallas |
Entity Address, State or Province | TX |
Entity Address, Postal Zip Code | 75225 |
City Area Code | 214 |
Local Phone Number | 981-0700 |
Entity Common Stock, Shares Outstanding | 0 |
Series C Preferred Units [Member] | NEW YORK STOCK EXCHANGE, INC. [Member] | |
Entity Information [Line Items] | |
Title of 12(b) Security | 7.375% Series C Fixed-to-Floating Rate Cumulative Redeemable Perpetual Preferred Units |
Trading Symbol | ETPprC |
Security Exchange Name | NYSE |
Series D Preferred Units [Member] | NEW YORK STOCK EXCHANGE, INC. [Member] | |
Entity Information [Line Items] | |
Title of 12(b) Security | 7.625% Series D Fixed-to-Floating Rate Cumulative Redeemable Perpetual Preferred Units |
Trading Symbol | ETPprD |
Security Exchange Name | NYSE |
Series E Preferred Units [Member] | NEW YORK STOCK EXCHANGE, INC. [Member] | |
Entity Information [Line Items] | |
Title of 12(b) Security | 7.600% Series E Fixed-to-Floating Rate Cumulative Redeemable Perpetual Preferred Units |
Trading Symbol | ETPprE |
Security Exchange Name | NYSE |
7.50% Senior Notes Due 2020 [Member] | NEW YORK STOCK EXCHANGE, INC. [Member] | |
Entity Information [Line Items] | |
Title of 12(b) Security | 7.500% Senior Notes due 2020 |
Trading Symbol | ETP 20 |
Security Exchange Name | NYSE |
4.25% Senior Notes due March 15, 2023 [Member] | NEW YORK STOCK EXCHANGE, INC. [Member] | |
Entity Information [Line Items] | |
Title of 12(b) Security | 4.250% Senior Notes due 2023 |
Trading Symbol | ETP 23 |
Security Exchange Name | NYSE |
5.875% Senior Notes due January 15, 2024 [Member] | NEW YORK STOCK EXCHANGE, INC. [Member] | |
Entity Information [Line Items] | |
Title of 12(b) Security | 5.875% Senior Notes due 2024 |
Trading Symbol | ETP 24 |
Security Exchange Name | NYSE |
5.5% Senior Notes due June 1, 2027 [Member] | NEW YORK STOCK EXCHANGE, INC. [Member] | |
Entity Information [Line Items] | |
Title of 12(b) Security | 5.500% Senior Notes due 2027 |
Trading Symbol | ETP 27 |
Security Exchange Name | NYSE |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) $ in Millions | Sep. 30, 2019 | Dec. 31, 2018 |
Current assets: | ||
Cash and cash equivalents | $ 207 | $ 418 |
Accounts receivable, net | 4,368 | 4,009 |
Accounts receivable from related companies | 224 | 176 |
Inventories | 1,814 | 1,677 |
Income taxes receivable | 109 | 73 |
Derivative assets | 56 | 111 |
Other current assets | 377 | 356 |
Total current assets | 7,155 | 6,820 |
Property, plant and equipment | 83,537 | 79,280 |
Accumulated depreciation and depletion | (14,667) | (12,625) |
Property, Plant and Equipment, Net | 68,870 | 66,655 |
Advances to and investments in unconsolidated affiliates | 2,987 | 2,636 |
Lease right-of-use assets, net | 889 | 0 |
Other non-current assets, net | 1,089 | 1,006 |
Advances to Affiliate | 3,606 | 440 |
Intangible assets, net | 5,781 | 6,000 |
Goodwill | 4,870 | 4,885 |
Total assets | 95,247 | 88,442 |
Current liabilities: | ||
Accounts payable | 3,519 | 3,491 |
Accounts payable to related companies | 23 | 119 |
Derivative liabilities | 181 | 185 |
Operating Lease, Liability, Current | 57 | 0 |
Accrued and other current liabilities | 3,228 | 2,847 |
Current maturities of long-term debt | 14 | 2,655 |
Total current liabilities | 7,022 | 9,297 |
Long-term debt, less current maturities | 46,716 | 37,853 |
Non-current derivative liabilities | 360 | 104 |
Operating Lease, Liability, Noncurrent | 807 | 0 |
Deferred income taxes | 3,094 | 2,884 |
Other non-current liabilities | 1,138 | 1,184 |
Commitments and contingencies | ||
Redeemable noncontrolling interests | 499 | 499 |
Equity: | ||
Preferred Units, Preferred Partners' Capital Accounts | 3,151 | 2,388 |
Common Unitholders | 24,526 | 26,372 |
Accumulated other comprehensive loss | (40) | (42) |
Total partners’ capital | 27,637 | 28,718 |
Noncontrolling interests | 7,974 | 7,903 |
Partners' Capital, Including Portion Attributable to Noncontrolling Interest | 35,611 | 36,621 |
Total liabilities and equity | $ 95,247 | $ 88,442 |
Consolidated Statements Of Oper
Consolidated Statements Of Operations - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | |
REVENUES: | ||||
Total revenues | $ 13,495 | $ 14,514 | $ 40,493 | $ 40,514 |
COSTS AND EXPENSES: | ||||
Cost of products sold | 9,890 | 11,093 | 29,607 | 31,681 |
Operating expenses | 806 | 784 | 2,406 | 2,280 |
Depreciation, depletion and amortization | 782 | 747 | 2,334 | 2,100 |
Selling, general and administrative | 171 | 175 | 495 | 495 |
Asset Impairment Charges | 12 | 0 | 62 | 0 |
Total costs and expenses | 11,661 | 12,799 | 34,904 | 36,556 |
OPERATING INCOME | 1,834 | 1,715 | 5,589 | 3,958 |
OTHER INCOME (EXPENSE): | ||||
Interest expense, net of capitalized interest | (575) | (446) | (1,680) | (1,246) |
Equity in earnings of unconsolidated affiliates | 82 | 87 | 224 | 258 |
Gain (Loss) on Extinguishment of Debt | 0 | 0 | (2) | (109) |
Gains (losses) on interest rate derivatives | (175) | 45 | (371) | 117 |
Other, net | 113 | 40 | 242 | 96 |
INCOME FROM CONTINUING OPERATIONS BEFORE INCOME TAX EXPENSE | 1,279 | 1,441 | 4,002 | 3,074 |
Income tax expense (benefit) from continuing operations | 55 | (52) | 216 | 7 |
Income (Loss) from Continuing Operations, Net of Tax, Attributable to Parent | 1,224 | 1,493 | 3,786 | 3,067 |
LOSS FROM DISCONTINUED OPERATIONS, NET OF INCOME TAXES | 0 | (2) | 0 | (265) |
NET INCOME | 1,224 | 1,491 | 3,786 | 2,802 |
Less: Net income attributable to noncontrolling interests | 261 | 223 | 783 | 557 |
Net Income (Loss) Attributable to Redeemable Noncontrolling Interest | 12 | 0 | 38 | 0 |
Net Income (Loss) Allocated to Predecessor Equity | 0 | 133 | 0 | (37) |
NET INCOME ATTRIBUTABLE TO PARTNERS | 951 | 1,135 | 2,965 | 2,282 |
Refined Products [Member] | ||||
REVENUES: | ||||
Revenue from Contract with Customer, Including Assessed Tax | 4,311 | 4,777 | 12,514 | 12,980 |
NGL sales [Member] | ||||
REVENUES: | ||||
Revenue from Contract with Customer, Including Assessed Tax | 3,971 | 3,844 | 11,842 | 11,344 |
Oil and Gas [Member] | ||||
REVENUES: | ||||
Revenue from Contract with Customer, Including Assessed Tax | 1,723 | 2,870 | 6,121 | 7,461 |
Natural Gas, Midstream [Member] | ||||
REVENUES: | ||||
Revenue from Contract with Customer, Including Assessed Tax | 2,466 | 1,781 | 6,768 | 4,878 |
Oil and Gas, Refining and Marketing [Member] | ||||
REVENUES: | ||||
Revenue from Contract with Customer, Including Assessed Tax | 822 | 1,026 | 2,549 | 3,112 |
Product and Service, Other [Member] | ||||
REVENUES: | ||||
Revenue from Contract with Customer, Including Assessed Tax | $ 202 | $ 216 | $ 699 | $ 739 |
Consolidated Statements Of Comp
Consolidated Statements Of Comprehensive Income - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | |
Statement of Comprehensive Income [Abstract] | ||||
Net income | $ 1,224 | $ 1,491 | $ 3,786 | $ 2,802 |
Other comprehensive income (loss), net of tax: | ||||
Change in value of available-for-sale securities | 0 | 2 | 8 | 0 |
Actuarial gain (loss) related to pension and other postretirement benefit plans | (3) | 0 | 7 | (2) |
Change in other comprehensive income from unconsolidated affiliates | (4) | 2 | (13) | 9 |
Total other comprehensive income (loss) | (7) | 4 | 2 | 7 |
Comprehensive income | 1,217 | 1,495 | 3,788 | 2,809 |
Less: Comprehensive income attributable to noncontrolling interests | 261 | 223 | 783 | 557 |
Other Comprehensive Income, Portion Attributable to Redeemable Noncontrolling Interest | 12 | 0 | 38 | 0 |
Comprehensive Income Attributable to Predecessor Equity | 0 | 133 | 0 | (37) |
Comprehensive income attributable to partners | $ 944 | $ 1,139 | $ 2,967 | $ 2,289 |
Consolidated Statement Of Equit
Consolidated Statement Of Equity - USD ($) $ in Millions | Total | Series A Preferred Units [Member] | Series C Preferred Units [Member] | Series D Preferred Units [Member] | Common Units | AOCI | Non-controlling Interests | Preferred Units [Member] | Traverse | TraverseSeries A Preferred Units [Member] | TraverseSeries C Preferred Units [Member] | TraverseSeries D Preferred Units [Member] | TraverseCommon Units | TraverseAOCI | TraverseNon-controlling Interests |
Balance, December 31, 2018 at Dec. 31, 2017 | $ 36,967 | $ 1,491 | $ 26,531 | $ 244 | $ 3 | $ 5,882 | $ 2,816 | ||||||||
Distributions to partners | (945) | (24) | (657) | (264) | 0 | 0 | 0 | ||||||||
Distributions to noncontrolling interests | (253) | 0 | 0 | 0 | 0 | (183) | (70) | ||||||||
Partners' Capital Account, Sale of Units | 20 | 0 | 20 | 0 | 0 | 0 | 0 | ||||||||
Noncontrolling Interest, Decrease from Redemptions or Purchase of Interests | (24) | 0 | (24) | 0 | 0 | 0 | 0 | $ (300) | $ 0 | $ 0 | $ 0 | $ 0 | $ 0 | $ (300) | |
Capital contributions from noncontrolling interests | 229 | 0 | 0 | 0 | 0 | 229 | 0 | ||||||||
Other comprehensive income, net of tax | 1 | 0 | 0 | 0 | 1 | 0 | 0 | ||||||||
Other, net | (42) | 2 | 16 | 17 | (2) | (6) | 1 | ||||||||
Net income, excluding amounts attributable to redeemable noncontrolling interests | 577 | 24 | 289 | 402 | 0 | 164 | (302) | ||||||||
Balance, March 31, 2019 at Mar. 31, 2018 | 36,176 | 1,489 | 26,143 | 365 | 2 | 6,086 | 2,091 | ||||||||
Balance, December 31, 2018 at Dec. 31, 2017 | 36,967 | 1,491 | 26,531 | 244 | 3 | 5,882 | 2,816 | ||||||||
Capital contributions from noncontrolling interests | 438 | ||||||||||||||
Other comprehensive income, net of tax | 7 | ||||||||||||||
Net income, excluding amounts attributable to redeemable noncontrolling interests | 2,802 | ||||||||||||||
Balance, March 31, 2019 at Sep. 30, 2018 | 37,899 | 2,366 | 25,628 | 340 | 8 | 6,334 | 3,223 | ||||||||
Cumulative Effect of New Accounting Principle in Period of Adoption | (54) | 0 | 0 | 0 | 0 | 0 | (54) | ||||||||
Balance, December 31, 2018 at Mar. 31, 2018 | 36,176 | 1,489 | 26,143 | 365 | 2 | 6,086 | 2,091 | ||||||||
Distributions to partners | (1,066) | 0 | (658) | (408) | 0 | 0 | 0 | ||||||||
Distributions to noncontrolling interests | (277) | 0 | 0 | 0 | 0 | (176) | (101) | ||||||||
Partners' Capital Account, Sale of Units | 455 | 436 | 19 | 0 | 0 | 0 | 0 | ||||||||
Capital contributions from noncontrolling interests | 89 | 0 | 0 | 0 | 0 | 89 | 0 | ||||||||
Partners' Capital Account, Acquisitions | 832 | 0 | 0 | 0 | 0 | 0 | 832 | ||||||||
Proceeds from Contributions from Parent | 248 | 0 | 0 | 0 | 0 | 0 | 248 | ||||||||
Other comprehensive income, net of tax | 2 | 0 | 0 | 0 | 2 | 0 | 0 | ||||||||
Other, net | 55 | (1) | (42) | 0 | 0 | 2 | 10 | ||||||||
Net income, excluding amounts attributable to redeemable noncontrolling interests | 734 | 30 | 0 | 402 | 0 | 170 | 132 | ||||||||
Balance, March 31, 2019 at Jun. 30, 2018 | 37,248 | 1,956 | 25,546 | 359 | 4 | 6,171 | 3,212 | ||||||||
Distributions to partners | (1,125) | (57) | (660) | (408) | 0 | 0 | 0 | ||||||||
Distributions to noncontrolling interests | (278) | 0 | 0 | 0 | 0 | (177) | (101) | ||||||||
Partners' Capital Account, Sale of Units | 450 | 431 | 19 | 0 | 0 | 0 | 0 | ||||||||
Capital contributions from noncontrolling interests | 120 | 0 | 0 | 0 | 0 | 120 | 0 | ||||||||
Other comprehensive income, net of tax | 4 | 0 | 0 | 0 | 4 | 0 | 0 | ||||||||
Other, net | 15 | 2 | (15) | 0 | 0 | (3) | 5 | ||||||||
Net income, excluding amounts attributable to redeemable noncontrolling interests | 1,491 | 38 | |||||||||||||
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest, Excluding Portion Attributable to Redeemable Noncontrolling Interest | 1,465 | 38 | 708 | 389 | 0 | 223 | 107 | ||||||||
Balance, March 31, 2019 at Sep. 30, 2018 | 37,899 | $ 2,366 | $ 25,628 | $ 340 | 8 | 6,334 | 3,223 | ||||||||
Balance, December 31, 2018 at Dec. 31, 2018 | 36,621 | 26,372 | (42) | 7,903 | $ 2,388 | ||||||||||
Distributions to partners | (1,514) | (1,450) | 0 | 0 | (64) | ||||||||||
Distributions to noncontrolling interests | (361) | 0 | 0 | (361) | 0 | ||||||||||
Capital contributions from noncontrolling interests | 140 | 0 | 0 | 140 | 0 | ||||||||||
Sale of noncontrolling interest in subsidiary | 93 | 0 | 0 | 93 | 0 | ||||||||||
Other comprehensive income, net of tax | 8 | 0 | 8 | 0 | 0 | ||||||||||
Other, net | 28 | 15 | 0 | 13 | 0 | ||||||||||
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest, Excluding Portion Attributable to Redeemable Noncontrolling Interest | 1,268 | 972 | 0 | 256 | 40 | ||||||||||
Balance, March 31, 2019 at Mar. 31, 2019 | 36,283 | 25,909 | (34) | 8,044 | 2,364 | ||||||||||
Balance, December 31, 2018 at Dec. 31, 2018 | 36,621 | 26,372 | (42) | 7,903 | 2,388 | ||||||||||
Capital contributions from noncontrolling interests | 278 | ||||||||||||||
Other comprehensive income, net of tax | 2 | ||||||||||||||
Net income, excluding amounts attributable to redeemable noncontrolling interests | 3,786 | ||||||||||||||
Balance, March 31, 2019 at Sep. 30, 2019 | 35,611 | 24,526 | (40) | 7,974 | 3,151 | ||||||||||
Balance, December 31, 2018 at Mar. 31, 2019 | 36,283 | 25,909 | (34) | 8,044 | 2,364 | ||||||||||
Distributions to partners | (1,643) | (1,625) | 0 | 0 | (18) | ||||||||||
Distributions to noncontrolling interests | (370) | 0 | 0 | (370) | 0 | ||||||||||
Partners' Capital Account, Sale of Units | 780 | 0 | 0 | 0 | 780 | ||||||||||
Capital contributions from noncontrolling interests | 66 | 0 | 0 | 66 | 0 | ||||||||||
Other comprehensive income, net of tax | 1 | 0 | 1 | 0 | 0 | ||||||||||
Other, net | (37) | (36) | 0 | 0 | 1 | ||||||||||
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest, Excluding Portion Attributable to Redeemable Noncontrolling Interest | 1,268 | 949 | 0 | 266 | 53 | ||||||||||
Balance, March 31, 2019 at Jun. 30, 2019 | 36,348 | 25,197 | (33) | 8,006 | 3,178 | ||||||||||
Distributions to partners | (1,644) | (1,562) | 0 | 0 | (82) | ||||||||||
Distributions to noncontrolling interests | (374) | 0 | 0 | (374) | 0 | ||||||||||
Capital contributions from noncontrolling interests | 72 | 0 | 0 | 72 | 0 | ||||||||||
Other comprehensive income, net of tax | (7) | 0 | (7) | 0 | 0 | ||||||||||
Other, net | 4 | (5) | 0 | 9 | 0 | ||||||||||
Net income, excluding amounts attributable to redeemable noncontrolling interests | 1,224 | ||||||||||||||
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest, Excluding Portion Attributable to Redeemable Noncontrolling Interest | 1,212 | 896 | 0 | 261 | 55 | ||||||||||
Balance, March 31, 2019 at Sep. 30, 2019 | $ 35,611 | $ 24,526 | $ (40) | $ 7,974 | $ 3,151 |
Consolidated Statements Of Cash
Consolidated Statements Of Cash Flows - USD ($) $ in Millions | 9 Months Ended | |
Sep. 30, 2019 | Sep. 30, 2018 | |
OPERATING ACTIVITIES | ||
Net income | $ 3,786 | $ 2,802 |
Reconciliation of net income to net cash provided by operating activities: | ||
Income (Loss) from Discontinued Operations, Net of Tax, Including Portion Attributable to Noncontrolling Interest | 0 | 265 |
Depreciation, depletion and amortization | 2,334 | 2,100 |
Deferred income taxes | 193 | 2 |
Inventory, LIFO Reserve, Period Charge | (71) | (50) |
Non-cash compensation expense | 85 | 82 |
Asset Impairment Charges | 62 | 0 |
Gain (Loss) on Extinguishment of Debt | 2 | 109 |
Distributions on unvested awards | (5) | (36) |
Equity in earnings of unconsolidated affiliates | (224) | (258) |
Distributions from unconsolidated affiliates | (254) | (229) |
Other non-cash | (29) | (93) |
Net change in operating assets and liabilities, net of effects of acquisitions | (325) | 358 |
Net Cash Provided by (Used in) Operating Activities, Continuing Operations | 6,062 | 5,510 |
INVESTING ACTIVITIES | ||
Proceeds from Sale of Equity Method Investments | 93 | 0 |
Proceeds from Divestiture of Businesses | 0 | 711 |
Cash paid for all other acquisitions, net of cash received | 7 | 233 |
Capital expenditures, excluding allowance for equity funds used during construction | (4,181) | (5,175) |
Contributions in aid of construction costs | 63 | 95 |
Contributions to unconsolidated affiliates | (481) | (13) |
Distributions from unconsolidated affiliates in excess of cumulative earnings | 40 | 62 |
Proceeds from the sale of other assets | 55 | 40 |
Payments for (Proceeds from) Other Investing Activities | 5 | 0 |
Net Cash Provided by (Used in) Investing Activities, Continuing Operations | (4,423) | (4,513) |
FINANCING ACTIVITIES | ||
Proceeds from borrowings | 18,125 | 21,713 |
Repayments of debt | (16,027) | (22,620) |
Cash received from/paid to related company | 1,018 | (129) |
Common units issued for cash | 0 | 57 |
Preferred units issued for cash | 780 | 868 |
Sale of Redeemable Noncontrolling Interest | 0 | 465 |
Capital contributions from noncontrolling interests | 278 | 438 |
Distributions to partners | (4,801) | (3,136) |
Predecessor Distributions to Partners | 0 | (280) |
Distributions to noncontrolling interests | (1,105) | (536) |
Payment of Dividends, Redeemable Noncontrolling Interest | 0 | 12 |
Payments for Repurchase of Common Stock | 0 | (24) |
Payments for Repurchase of Common Units by Subsidiary | 0 | 300 |
Debt issuance costs | 114 | 188 |
Other | (4) | 11 |
Net cash used in financing activities | (1,850) | (3,673) |
Cash Provided by (Used in) Operating Activities, Discontinued Operations | 0 | (480) |
Cash Provided by (Used in) Investing Activities, Discontinued Operations | 0 | 3,207 |
Increase (Decrease) in Assets Held-for-sale | 0 | 11 |
Net Cash Provided by (Used in) Discontinued Operations | 0 | 2,738 |
Increase in cash and cash equivalents | (211) | 62 |
Cash and cash equivalents, beginning of period | 418 | 335 |
Cash and cash equivalents, end of period | $ 207 | $ 397 |
Operations And Basis of Present
Operations And Basis of Presentation | 9 Months Ended |
Sep. 30, 2019 | |
Operations And Organization [Abstract] | |
Operations And Organization | ORGANIZATION AND BASIS OF PRESENTATION Organization The consolidated financial statements presented herein include Energy Transfer Operating, L.P. and its subsidiaries (the “Partnership,” “we,” “us,” “our” or “ETO”). Energy Transfer Operating, L.P. is a consolidated subsidiary of Energy Transfer LP. In October 2018, we completed the merger of ETO with a wholly-owned subsidiary of ET in a unit-for-unit exchange (the “Energy Transfer Merger”). In connection with the transaction, ETO unitholders (other than ET and its subsidiaries) received 1.28 common units of ET for each common unit of ETO they owned. Following the closing of the Energy Transfer Merger, Energy Transfer Partners, L.P. was renamed Energy Transfer Operating, L.P. In addition, Energy Transfer Equity, L.P. was renamed Energy Transfer LP, and its common units began trading on the New York Stock Exchange under the “ET” ticker symbol on October 19, 2018. Immediately prior to the closing of the Energy Transfer Merger, the following also occurred: • the IDRs in ETO were converted into 1,168,205,710 ETO common units; • the general partner interest in ETO was converted to a non-economic general partner interest and ETO issued 18,448,341 ETO common units to ETP GP; • ET contributed its 2,263,158 Sunoco LP common units to ETO in exchange for 2,874,275 ETO common units and 100 percent of the limited liability company interests in Sunoco GP LLC, the sole general partner of Sunoco LP, and all of the IDRs in Sunoco LP, to ETO in exchange for 42,812,389 ETO common units; • ET contributed its 12,466,912 common units representing limited partner interests in USAC and 100 percent of the limited liability company interests in USA Compression GP, LLC, the general partner of USAC, to ETO in exchange for 16,134,903 ETO common units; and • ET contributed its 100 percent limited liability company interest in Lake Charles LNG and a 60 percent limited liability company interest in each of Energy Transfer LNG Export, LLC, ET Crude Oil Terminals, LLC and ETC Illinois LLC (collectively, “Lake Charles LNG and Other”) to ETO in exchange for 37,557,815 ETO common units. The Energy Transfer Merger was a combination of entities under common control; therefore, Sunoco LP, Lake Charles LNG and USAC’s assets and liabilities were not adjusted. The Partnership’s consolidated financial statements have been retrospectively adjusted to reflect consolidation beginning January 1, 2018 for Sunoco LP and Lake Charles LNG and Other and April 2, 2018 for USAC (the date ET acquired USAC). Predecessor equity included on the consolidated financial statements represents Sunoco LP, Lake Charles LNG and Other and USAC’s equity prior to the Energy Transfer Merger. Our consolidated financial statements reflect the following reportable segments: • intrastate transportation and storage ; • interstate transportation and storage ; • midstream ; • NGL and refined products transportation and services ; • crude oil transportation and services ; • investment in Sunoco LP; • investment in USAC; and • all other . Basis of Presentation The unaudited financial information included in this Form 10-Q has been prepared on the same basis as the audited consolidated financial statements of Energy Transfer Operating, L.P. for the year ended December 31, 2018 , included in the Partnership’s Annual Report on Form 10-K filed with the SEC on February 22, 2019 . In the opinion of the Partnership’s management, such financial information reflects all adjustments necessary for a fair presentation of the financial position and the results of operations for such interim periods in accordance with GAAP. All intercompany items and transactions have been eliminated in consolidation. Certain information and footnote disclosures normally included in annual consolidated financial statements prepared in accordance with GAAP have been omitted pursuant to the rules and regulations of the SEC. The consolidated financial statements of the Partnership presented herein include the results of operations of our controlled subsidiaries, including Sunoco LP and USAC. Certain prior period amounts have also been reclassified to conform to the current period presentation. These reclassifications had no impact on net income or total equity. Use of Estimates The unaudited consolidated financial statements have been prepared in conformity with GAAP, which includes the use of estimates and assumptions made by management that affect the reported amounts of assets, liabilities, revenues, expenses and disclosure of contingent assets and liabilities that exist at the date of the consolidated financial statements. Although these estimates are based on management’s available knowledge of current and expected future events, actual results could be different from those estimates. Change in Accounting Policy Adoption of Lease Accounting Standard In February 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2016-02, Leases (Topic 842) , which has amended the FASB Accounting Standards Codification (“ASC”) and introduced Topic 842, Leases. On January 1, 2019, the Partnership has adopted ASC Topic 842 (“Topic 842”), which is effective for interim and annual reporting periods beginning on or after December 15, 2018. Topic 842 requires entities to recognize lease assets and liabilities on the balance sheet for all leases with a term of more than one year, including operating leases, which historically were not recorded on the balance sheet in accordance with the prior standard. To adopt Topic 842, the Partnership recognized a cumulative catch-up adjustment to the opening balance sheet as of January 1, 2019 related to certain leases that existed as of that date. As permitted, we have not retrospectively modified our consolidated financial statements for comparative purposes. The adoption of the standard had a material impact on our consolidated balance sheet, but did not have an impact on our consolidated statements of operations, comprehensive income or cash flows. As a result of adoption, we have recorded additional net right-of-use (“ROU”) lease assets and lease liabilities of approximately $888 million and $888 million , respectively, as of January 1, 2019. In addition, we have updated our business processes, systems, and internal controls to support the on-going reporting requirements under the new standard. To adopt Topic 842, the Partnership elected the package of practical expedients permitted under the transition guidance within the standard. The expedient package allowed us not to reassess whether existing contracts contained a lease, the lease classification of existing leases and initial direct cost for existing leases. In addition to the package of practical expedients, the Partnership has elected not to capitalize amounts pertaining to leases with terms less than twelve months, to use the portfolio approach to determine discount rates, not to separate non-lease components from lease components and not to apply the use of hindsight to the active lease population. Cumulative-effect adjustments made to the opening balance sheet at January 1, 2019 were as follows: Balance at December 31, 2018, as previously reported Adjustments due to Topic 842 (Leases) Balance at January 1, 2019 Assets: Property, plant and equipment, net $ 66,655 $ (1 ) $ 66,654 Lease right-of-use assets, net — 889 889 Liabilities: Operating lease current liabilities $ — $ 71 $ 71 Accrued and other current liabilities 2,847 (1 ) 2,846 Current maturities of long-term debt 2,655 1 2,656 Long-term debt, less current maturities 37,853 6 37,859 Non-current operating lease liabilities — 823 823 Other non-current liabilities 1,184 (12 ) 1,172 Additional disclosures related to lease accounting are included in Note 12 . Goodwill The Partnership’s interstate transportation and storage segment owns Southwest Gas which owns and operates natural gas storage assets. Due to a decrease in the demand for storage on these assets, the Partnership performed an interim impairment test on the assets of Southwest Gas during the three months ended September 30, 2019. As a result of the interim impairment test, the Partnership recognized a goodwill impairment of $12 million related to Southwest Gas, primarily due to decreases in projected future revenues and cash flows. No other impairments of the Partnership’s other assets were identified. The Partnership estimated the fair value of Southwest Gas by using the income approach. The income approach is based on the present value of future cash flows, which are derived from our long-term financial forecasts, and requires significant assumptions including, among others, a discount rate and a terminal value. |
Acquisitions and Other Transact
Acquisitions and Other Transactions | 9 Months Ended |
Sep. 30, 2019 | |
Acquisitions [Abstract] | |
Business Combination Disclosure [Text Block] | ACQUISITIONS, DIVESTURES AND RELATED TRANSACTIONS Sunoco LP Retail Store and Real Estate Sales On January 23, 2018, Sunoco LP completed the disposition of assets pursuant to the purchase agreement with 7-Eleven, Inc. (the “7-Eleven Transaction”). As a result of the 7-Eleven Transaction, previously eliminated wholesale motor fuel sales to Sunoco LP’s retail locations are reported as wholesale motor fuel sales to third parties. Also, the related accounts receivable from such sales are no longer eliminated from the Partnership’s consolidated balance sheets and are reported as accounts receivable. In connection with the 7-Eleven Transaction, Sunoco LP entered into a Distributor Motor Fuel Agreement dated as of January 23, 2018, as amended (“Supply Agreement”), with 7-Eleven and SEI Fuel (collectively, “Distributor”). The Supply Agreement consists of a 15-year take-or-pay fuel supply arrangement. For the period from January 1, 2018 through January 22, 2018, Sunoco LP recorded sales to the sites that were subsequently sold to 7-Eleven of $199 million , which were eliminated in consolidation. Sunoco LP received payments on trade receivables from 7-Eleven of $1.0 billion and $2.9 billion for the three and nine months ended September 30, 2019 , respectively, and $1.0 billion and $2.6 billion for the three and nine months ended September 30, 2018 , respectively, subsequent to the closing of the sale. The Partnership has concluded that it meets the accounting requirements for reporting the financial position, results of operations and cash flows of Sunoco LP’s retail divestment as discontinued operations. There were no results of operations associated with discontinued operations for the three and nine months ended September 30, 2019 . The results of operations associated with discontinued operations for the three and nine months ended ended September 30, 2018 were as follows: Three Months Ended September 30, 2018 Nine Months Ended September 30, 2018 REVENUES $ — $ 349 COSTS AND EXPENSES Cost of products sold — 305 Operating expenses — 61 Selling, general and administrative — 7 Total costs and expenses — 373 OPERATING LOSS — (24 ) Interest expense, net — (2 ) Loss on extinguishment of debt and other — (20 ) Other, net — (61 ) LOSS FROM DISCONTINUED OPERATIONS BEFORE INCOME TAX EXPENSE — (107 ) Income tax expense 2 158 LOSS FROM DISCONTINUED OPERATIONS, NET OF INCOME TAXES $ (2 ) $ (265 ) |
Cash And Cash Equivalents
Cash And Cash Equivalents | 9 Months Ended |
Sep. 30, 2019 | |
Cash and Cash Equivalents [Abstract] | |
Cash And Cash Equivalents | CASH AND CASH EQUIVALENTS Cash and cash equivalents include all cash on hand, demand deposits, and investments with original maturities of three months or less. We consider cash equivalents to include short-term, highly liquid investments that are readily convertible to known amounts of cash and that are subject to an insignificant risk of changes in value. The Partnership’s balance sheets did not include any material amounts of restricted cash as of September 30, 2019 or December 31, 2018 . We place our cash deposits and temporary cash investments with high credit quality financial institutions. At times, our cash and cash equivalents may be uninsured or in deposit accounts that exceed the Federal Deposit Insurance Corporation insurance limit. The net change in operating assets and liabilities (net of effects of acquisitions) included in cash flows from operating activities is comprised as follows: Nine Months Ended 2019 2018 Accounts receivable $ (353 ) $ 152 Accounts receivable from related companies (30 ) 261 Inventories (66 ) 78 Other current assets (14 ) (19 ) Other non-current assets, net (182 ) (154 ) Accounts payable 27 (232 ) Accounts payable to related companies (105 ) (227 ) Accrued and other current liabilities 194 406 Other non-current liabilities (103 ) 25 Derivative assets and liabilities, net 307 68 Net change in operating assets and liabilities, net of effects of acquisitions $ (325 ) $ 358 Non-cash activities are as follows: Nine Months Ended 2019 2018 NON-CASH INVESTING AND FINANCING ACTIVITIES: Accrued capital expenditures $ 1,202 $ 1,059 Lease assets obtained in exchange for new lease liabilities 73 — Losses from subsidiary common unit transactions — (125 ) |
Inventories
Inventories | 9 Months Ended |
Sep. 30, 2019 | |
Inventory, Gross [Abstract] | |
Inventories | INVENTORIES Inventories consisted of the following: September 30, 2019 December 31, 2018 Natural gas, NGLs and refined products $ 900 $ 833 Crude oil 510 506 Spare parts and other 404 338 Total inventories $ 1,814 $ 1,677 We utilize commodity derivatives to manage price volatility associated with our natural gas inventory. Changes in fair value of designated hedged inventory are recorded in inventory on our consolidated balance sheets and cost of products sold in our consolidated statements of operations. |
Fair Value Measurements
Fair Value Measurements | 9 Months Ended |
Sep. 30, 2019 | |
Fair Value Measurements [Abstract] | |
Fair Value Measurements | FAIR VALUE MEASURES Based on the estimated borrowing rates currently available to us and our subsidiaries for loans with similar terms and average maturities, the aggregate fair value and carrying amount of our consolidated debt obligations as of September 30, 2019 was $50.66 billion and $46.73 billion , respectively. As of December 31, 2018 , the aggregate fair value and carrying amount of our consolidated debt obligations was $39.54 billion and $40.51 billion , respectively. The fair value of our consolidated debt obligations is a Level 2 valuation based on the observable inputs used for similar liabilities. We have commodity derivatives and interest rate derivatives that are accounted for as assets and liabilities at fair value in our consolidated balance sheets. We determine the fair value of our assets and liabilities subject to fair value measurement by using the highest possible “level” of inputs. Level 1 inputs are observable quotes in an active market for identical assets and liabilities. We consider the valuation of marketable securities and commodity derivatives transacted through a clearing broker with a published price from the appropriate exchange as a Level 1 valuation. Level 2 inputs are inputs observable for similar assets and liabilities. We consider OTC commodity derivatives entered into directly with third parties as a Level 2 valuation since the values of these derivatives are quoted on an exchange for similar transactions. Additionally, we consider our options transacted through our clearing broker as having Level 2 inputs due to the level of activity of these contracts on the exchange in which they trade. We consider the valuation of our interest rate derivatives as Level 2 as the primary input, the LIBOR curve, is based on quotes from an active exchange of Eurodollar futures for the same period as the future interest swap settlements. Level 3 inputs are unobservable. During the nine months ended September 30, 2019 , no transfers were made between any levels within the fair value hierarchy. The following tables summarize the gross fair value of our financial assets and liabilities measured and recorded at fair value on a recurring basis as of September 30, 2019 and December 31, 2018 based on inputs used to derive their fair values: Fair Value Measurements at Fair Value Total Level 1 Level 2 Assets: Commodity derivatives: Natural Gas: Basis Swaps IFERC/NYMEX $ 27 $ 27 $ — Swing Swaps IFERC 5 — 5 Fixed Swaps/Futures 44 44 — Forward Physical Contracts 5 — 5 Power: Forwards 21 — 21 Futures 4 4 — NGLs – Forwards/Swaps 529 529 — Refined Products – Futures 1 1 — Crude – Forwards/Swaps 43 43 — Total commodity derivatives 679 648 31 Other non-current assets 29 19 10 Total assets $ 708 $ 667 $ 41 Liabilities: Interest rate derivatives $ (528 ) $ — $ (528 ) Commodity derivatives: Natural Gas: Basis Swaps IFERC/NYMEX (54 ) (54 ) — Swing Swaps IFERC (9 ) — (9 ) Fixed Swaps/Futures (29 ) (29 ) — Forward Physical Contracts (2 ) — (2 ) Power: Forwards (14 ) — (14 ) Futures (5 ) (5 ) — Options – Calls (1 ) (1 ) — NGLs – Forwards/Swaps (479 ) (479 ) — Refined Products – Futures (3 ) (3 ) — Crude – Forwards/Swaps (1 ) (1 ) — Total commodity derivatives (597 ) (572 ) (25 ) Total liabilities $ (1,125 ) $ (572 ) $ (553 ) Fair Value Measurements at Fair Value Total Level 1 Level 2 Assets: Commodity derivatives: Natural Gas: Basis Swaps IFERC/NYMEX $ 42 $ 42 $ — Swing Swaps IFERC 52 8 44 Fixed Swaps/Futures 97 97 — Forward Physical Contracts 20 — 20 Power: Forwards 48 — 48 Futures 1 1 — Options – Calls 1 1 — NGLs – Forwards/Swaps 291 291 — Refined Products – Futures 7 7 — Crude – Forwards/Swaps 1 1 — Total commodity derivatives 560 448 112 Other non-current assets 26 17 9 Total assets $ 586 $ 465 $ 121 Liabilities: Interest rate derivatives $ (163 ) $ — $ (163 ) Commodity derivatives: Natural Gas: Basis Swaps IFERC/NYMEX (91 ) (91 ) — Swing Swaps IFERC (40 ) — (40 ) Fixed Swaps/Futures (88 ) (88 ) — Forward Physical Contracts (21 ) — (21 ) Power: Forwards (42 ) — (42 ) Futures (1 ) (1 ) — NGLs – Forwards/Swaps (224 ) (224 ) — Refined Products – Futures (15 ) (15 ) — Crude – Forwards/Swaps (61 ) (61 ) — Total commodity derivatives (583 ) (480 ) (103 ) Total liabilities $ (746 ) $ (480 ) $ (266 ) |
Debt Obligations
Debt Obligations | 9 Months Ended |
Sep. 30, 2019 | |
Debt Disclosure [Abstract] | |
Debt Obligations | DEBT OBLIGATIONS Notes and Debentures ET-ETO Senior Notes Exchange In February 2019, ETO commenced offers to exchange all of ET’s outstanding senior notes for senior notes issued by ETO (the “ET-ETO senior notes exchange”). Approximately 97% of ET’s outstanding senior notes were tendered and accepted, and substantially all the exchanges settled on March 25, 2019. In connection with the exchange, ETO issued approximately $4.21 billion aggregate principal amount of the following senior notes: • $1.14 billion aggregate principal amount of 7.50% senior notes due 2020 ; • $995 million aggregate principal amount of 4.25% senior notes due 2023 ; • $1.13 billion aggregate principal amount of 5.875% senior notes due 2024 ; and • $956 million aggregate principal amount of 5.50% senior notes due 2027 . The senior notes were registered under the Securities Act of 1933 (as amended). The Partnership may redeem some or all of the senior notes at any time, or from time to time, pursuant to the terms of the indenture and related indenture supplements related to the senior notes. The principal on the senior notes is payable upon maturity and interest is paid semi-annually. The senior notes rank equally in right of payment with ETO’s existing and future senior debt, and senior in right of payment to any future subordinated debt ETO may incur. The notes of each series will initially be fully and unconditionally guaranteed by our subsidiary, Sunoco Logistics Partners Operations L.P., on a senior unsecured basis so long as it guarantees any of our other long-term debt. The guarantee for each series of notes ranks equally in right of payment with all of the existing and future senior debt of Sunoco Logistics Partners Operations L.P., including its senior notes. ETO Senior Notes Offering and Redemption In January 2019, ETO issued the following senior notes: • $750 million aggregate principal amount of 4.50% senior notes due 2024 ; • $1.50 billion aggregate principal amount of 5.25% senior notes due 2029 ; and • $1.75 billion aggregate principal amount of 6.25% senior notes due 2049 . The senior notes were registered under the Securities Act of 1933 (as amended). The Partnership may redeem some or all of the senior notes at any time, or from time to time, pursuant to the terms of the indenture and related indenture supplements related to the senior notes. The principal on the senior notes is payable upon maturity and interest is paid semi-annually. The senior notes rank equally in right of payment with ETO’s existing and future senior debt, and senior in right of payment to any future subordinated debt ETO may incur. The notes of each series will initially be fully and unconditionally guaranteed by our subsidiary, Sunoco Logistics Partners Operations L.P., on a senior unsecured basis so long as it guarantees any of our other long-term debt. The guarantee for each series of notes ranks equally in right of payment with all of the existing and future senior debt of Sunoco Logistics Partners Operations L.P., including its senior notes. The $3.96 billion net proceeds from the offering were used to make an intercompany loan to ET (which ET used to repay its term loan in full), for general partnership purposes and to redeem at maturity all of the following: • ETO’s $400 million aggregate principal amount of 9.70% senior notes due March 15, 2019 ; • ETO’s $450 million aggregate principal amount of 9.00% senior notes due April 15, 2019 ; and • Panhandle’s $150 million aggregate principal amount of 8.125% senior notes due June 1, 2019 . Panhandle Senior Notes Redemption In June 2019, Panhandle’s $150 million aggregate principal amount of 8.125% senior notes matured and were repaid with borrowings under an affiliate loan agreement with ETO. Bakken Senior Notes Offering In March 2019, Midwest Connector Capital Company LLC, a wholly-owned subsidiary of Dakota Access, LLC, issued the following senior notes related to the Bakken pipeline : • $650 million aggregate principal amount of 3.625% senior notes due 2022 ; • $1.00 billion aggregate principal amount of 3.90% senior notes due 2024 ; and • $850 million aggregate principal amount of 4.625% senior notes due 2029 . The $2.48 billion in net proceeds from the offering were used to repay in full all amounts outstanding on the Bakken credit facility and the facility was terminated. Sunoco LP Senior Notes Offering In March 2019, Sunoco LP issued $600 million aggregate principal amount of 6.00% senior notes due 2027 in a private placement to eligible purchasers. The net proceeds from this offering were used to repay a portion of Sunoco LP’s existing borrowings under its credit facility. In July 2019, Sunoco LP completed an exchange of these notes for registered notes with substantially identical terms. USAC Senior Notes Offering In March 2019, USAC issued $750 million aggregate principal amount of 6.875% senior unsecured notes due 2027 in a private placement to eligible purchasers. The net proceeds from this offering were used to repay a portion of USAC’s existing borrowings under its credit facility and for general partnership purposes. Credit Facilities and Commercial Paper ETO Term Loan On October 17, 2019, ETO entered into a term loan credit agreement providing for a $2 billion three-year term loan credit facility. Borrowings under the term loan agreement mature on October 17, 2022 and are available for working capital purposes and for general partnership purposes. The term loan agreement will be unsecured and will be guaranteed by our subsidiary, Sunoco Logistics Partners Operations L.P. Borrowings under the term loan agreement will bear interest at a eurodollar rate or a base rate, at ETO’s option, plus an applicable margin. The applicable margin and applicable rate used in connection with the interest rates are based on the credit ratings assigned to the senior, unsecured, non-credit enhanced long-term debt of ETO. ETO Five-Year Credit Facility ETO’s revolving credit facility (the “ETO Five-Year Credit Facility”) allows for unsecured borrowings up to $5.00 billion and matures on December 1, 2023. The ETO Five-Year Credit Facility contains an accordion feature, under which the total aggregate commitment may be increased up to $6.00 billion under certain conditions. As of September 30, 2019 , the ETO Five-Year Credit Facility had $2.61 billion of outstanding borrowings, $2.15 billion of which was commercial paper. The amount available for future borrowings was $2.32 billion after taking into account letters of credit of $77 million . The weighted average interest rate on the total amount outstanding as of September 30, 2019 was 2.77% . ETO 364-Day Facility ETO’s 364-day revolving credit facility (the “ETO 364-Day Facility”) allows for unsecured borrowings up to $1.00 billion and matures on November 29, 2019. As of September 30, 2019 , the ETO 364-Day Facility had no outstanding borrowings. Sunoco LP Credit Facility Sunoco LP maintains a $1.50 billion revolving credit facility (the “Sunoco LP Credit Facility”), which matures in July 2023. As of September 30, 2019 , the Sunoco LP Credit Facility had $154 million of outstanding borrowings and $8 million in standby letters of credit. As of September 30, 2019 , Sunoco LP had $1.34 billion of availability under the Sunoco LP Credit Facility. The weighted average interest rate on the total amount outstanding as of September 30, 2019 was 4.04% . USAC Credit Facility USAC maintains a $1.60 billion revolving credit facility (the “USAC Credit Facility”), with a further potential increase of $400 million , which matures in April 2023. As of September 30, 2019 , the USAC Credit Facility had $395 million of outstanding borrowings and no outstanding letters of credit. As of September 30, 2019 , USAC had $1.21 billion of borrowing base availability and, subject to compliance with the applicable financial covenants, available borrowing capacity of $410 million under the USAC Credit Facility. The weighted average interest rate on the total amount outstanding as of September 30, 2019 was 4.73% . Compliance with Our Covenants We and our subsidiaries were in compliance with all requirements, tests, limitations, and covenants related to our credit agreements as of September 30, 2019 . |
Redeemable Noncontrolling Inter
Redeemable Noncontrolling Interests (Notes) | 9 Months Ended |
Sep. 30, 2019 | |
Redeemable Noncontrolling Interest [Abstract] | |
Redeemable Noncontrolling Interest [Text Block] | REDEEMABLE NONCONTROLLING INTERESTS Certain redeemable noncontrolling interests in the Partnership’s subsidiaries are reflected as mezzanine equity on the consolidated balance sheets. Redeemable noncontrolling interests as of September 30, 2019 included (i) $477 million related to the USAC Preferred Units described below and (ii) $22 million related to noncontrolling interest holders in one of the Partnership’s consolidated subsidiaries that have the option to sell their interests to the Partnership. USAC Preferred Units In 2018, USAC issued 500,000 USAC Preferred Units in a private placement at a price of $1,000 per USAC Preferred Unit, for total gross proceeds of $500 million . The USAC Preferred Units are entitled to receive cumulative quarterly distributions equal to $24.375 per USAC Preferred Unit, subject to increase in certain limited circumstances. The USAC Preferred Units will have a perpetual term, unless converted or redeemed. |
Equity
Equity | 9 Months Ended |
Sep. 30, 2019 | |
Partners' Capital Notes [Abstract] | |
Equity | EQUITY Subsequent to the Energy Transfer Merger in October 2018, all of our common units are owned by ET. Class M Units On July 1, 2019, ETO issued a total of 220.5 million units of a new class of limited partner interests titled Class M Units to ETP Holdco, a wholly-owned subsidiary of the Partnership, in exchange for the contribution of ETP Holdco’s equity ownership interest in PEPL to the Partnership. The Class M Units generally do not have any voting rights. The Class M Units are entitled to quarterly cash distributions of $0.20 per Class M Unit. Distributions shall be paid quarterly, in arrears, within 45 days after the end of each quarter. As the Class M Units are owned by a wholly-owned subsidiary, the cash distributions on those units are eliminated in our consolidated financial statements. Preferred Units As of September 30, 2019 and December 31, 2018 , our outstanding preferred units included 950,000 Series A Preferred Units, 550,000 Series B Preferred Units, 18,000,000 Series C Preferred Units and 17,800,000 Series D Preferred Units. As of September 30, 2019 , our outstanding preferred units also included 32,000,000 Series E Preferred Units. The following table summarizes changes in the amounts of our Series A, Series B, Series C, Series D and Series E preferred units for the nine months ended September 30, 2019 : Preferred Unitholders Series A Series B Series C Series D Series E Total Balance, December 31, 2018 $ 958 $ 556 $ 440 $ 434 $ — $ 2,388 Distributions to partners (30 ) (18 ) (8 ) (8 ) — (64 ) Net income 15 9 8 8 — 40 Balance, March 31, 2019 943 547 440 434 — 2,364 Distributions to partners — — (9 ) (9 ) — (18 ) Units issued for cash — — — — 780 780 Other, net — — — — (1 ) (1 ) Net income 15 9 9 9 11 53 Balance, June 30, 2019 958 556 440 434 790 3,178 Distributions to partners (29 ) (18 ) (8 ) (8 ) (19 ) (82 ) Net income 15 9 8 8 15 55 Balance, September 30, 2019 $ 944 $ 547 $ 440 $ 434 $ 786 $ 3,151 The following table summarizes changes in the amounts of our Series A, Series B, Series C and Series D preferred units for the nine months ended September 30, 2018 : Preferred Unitholders Series A Series B Series C Series D Total Balance, December 31, 2017 $ 944 $ 547 $ — $ — $ 1,491 Distributions to partners (15 ) (9 ) — — (24 ) Other, net (1 ) (1 ) — — (2 ) Net income 15 9 — — 24 Balance, March 31, 2018 943 546 — — 1,489 Units issued for cash — — 436 — 436 Other, net — 1 — — 1 Net income 15 9 6 — 30 Balance, June 30, 2018 958 556 442 — 1,956 Distributions to partners (29 ) (18 ) (10 ) — (57 ) Units issued for cash — — — 431 431 Other, net — — (1 ) (1 ) (2 ) Net income 15 9 8 6 38 Balance, September 30, 2018 $ 944 $ 547 $ 439 $ 436 $ 2,366 Series E Preferred Units Issuance In April 2019, ETO issued 32 million of its 7.600% Series E Preferred Units at a price of $25 per unit, including 4 million Series E Preferred Units pursuant to the underwriters’ exercise of their option to purchase additional preferred units. The total gross proceeds from the Series E Preferred Unit issuance were $800 million , including $100 million from the underwriters’ exercise of their option. The net proceeds were used to repay amounts outstanding under ETO’s Five-Year Credit Facility and for general partnership purposes. Distributions on the Series E Preferred Units will accrue and be cumulative from and including the date of original issue to, but excluding, May 15, 2024, at a rate of 7.600% per annum of the stated liquidation preference of $25 . On and after May 15, 2024, distributions on the Series E Preferred Units will accumulate at a percentage of the $25 liquidation preference equal to an annual floating rate of the three-month LIBOR, determined quarterly, plus a spread of 5.161% per annum. The Series E Preferred Units are redeemable at ETO’s option on or after May 15, 2024 at a redemption price of $25 per Series E Preferred Unit, plus an amount equal to all accumulated and unpaid distributions thereon to, but excluding, the date of redemption. Subsidiary Equity Transactions Sunoco LP Equity Distribution Program For the nine months ended September 30, 2019 , Sunoco LP issued no additional units under its at-the-market equity distribution program. As of September 30, 2019 , $295 million of Sunoco LP common units remained available to be issued under the currently effective equity distribution agreement. USAC Class B Conversion On July 30, 2019, the 6,397,965 USAC Class B units held by the Partnership converted into 6,397,965 common units representing limited partner interests in USAC. These common units will participate in any future distributions declared by USAC. USAC Distribution Reinvestment Program During the nine months ended September 30, 2019 , distributions of $0.7 million were reinvested under the USAC distribution reinvestment program resulting in the issuance of approximately 44,605 USAC common units. Cash Distributions Distributions on ETO’s preferred units declared and/or paid by the Partnership subsequent to December 31, 2018 were as follows: Period Ended Record Date Payment Date Series A (1) Series B (1) Series C Series D Series E (2) December 31, 2018 February 1, 2019 February 15, 2019 $ 31.25 $ 33.125 $ 0.4609 $ 0.4766 $ — March 31, 2019 May 1, 2019 May 15, 2019 — — 0.4609 0.4766 — June 30, 2019 August 1, 2019 August 15, 2019 31.25 33.125 0.4609 0.4766 0.5806 September 30, 2019 November 1, 2019 November 15, 2019 — — 0.4609 0.4766 0.4750 (1) Series A Preferred Unit and Series B Preferred Unit distributions are paid on a semi-annual basis. (2) Series E Preferred Unit distributions related to the period ended June 30, 2019 represent a prorated initial distribution. Sunoco LP Cash Distributions Distributions declared and/or paid by Sunoco LP subsequent to December 31, 2018 were as follows: Quarter Ended Record Date Payment Date Rate December 31, 2018 February 6, 2019 February 14, 2019 $ 0.8255 March 31, 2019 May 7, 2019 May 15, 2019 0.8255 June 30, 2019 August 6, 2019 August 14, 2019 0.8255 September 30, 2019 November 5, 2019 November 19, 2019 0.8255 USAC Cash Distributions Distributions declared and/or paid by USAC subsequent to December 31, 2018 were as follows: Quarter Ended Record Date Payment Date Rate December 31, 2018 January 28, 2019 February 8, 2019 $ 0.5250 March 31, 2019 April 29, 2019 May 10, 2019 0.5250 June 30, 2019 July 29, 2019 August 9, 2019 0.5250 September 30, 2019 October 28, 2019 November 8, 2019 0.5250 Accumulated Other Comprehensive Income (Loss) The following table presents the components of AOCI, net of tax: September 30, 2019 December 31, 2018 Available-for-sale securities $ 10 $ 2 Foreign currency translation adjustment (5 ) (5 ) Actuarial loss related to pensions and other postretirement benefits (41 ) (48 ) Investments in unconsolidated affiliates, net (4 ) 9 Total AOCI, net of tax $ (40 ) $ (42 ) |
Income Taxes (Notes)
Income Taxes (Notes) | 9 Months Ended |
Sep. 30, 2019 | |
Income Tax Disclosure [Abstract] | |
Income Tax Disclosure [Text Block] | INCOME TAXES The Partnership’s effective tax rate differs from the statutory rate primarily due to partnership earnings that are not subject to United States federal and most state income taxes at the partnership level. ETC Sunoco historically included certain government incentive payments as taxable income on its federal and state income tax returns. In connection with ETC Sunoco’s 2004 through 2011 years, ETC Sunoco filed amended returns with the Internal Revenue Service (“IRS”) excluding these government incentive payments from federal taxable income. The IRS denied the amended returns and ETC Sunoco petitioned the Court of Federal Claims (“CFC”) on this issue. In November 2016, the CFC ruled against ETC Sunoco, and the Federal Circuit affirmed the CFC’s ruling on November 1, 2018. ETC Sunoco filed a petition for rehearing with the Federal Circuit on December 17, 2018, and this was denied on January 24, 2019. ETC Sunoco filed a petition for writ of certiorari with the United States Supreme Court that was docketed on May 24, 2019, to review the Federal Circuit’s affirmation of the CFC’s ruling. The government filed its response to ETC Sunoco’s petition on July 24, 2019. In October 2019, the Supreme Court denied the petition related to the years 2004 through 2009. The years 2010 through 2011 are on extension with the IRS. Due to the uncertainty surrounding the litigation, a reserve of $530 million was previously established for the full amount of the pending refund claims, and the receivable and reserve for this issue were netted in the balance sheet. Subsequent to the Supreme Court’s denial of the petition in October 2019, the receivable and reserve have been reversed, with no impact to the Partnership’s financial position or results of operations. |
Regulatory Matters, Commitments
Regulatory Matters, Commitments, Contingencies And Environmental Liabilities | 9 Months Ended |
Sep. 30, 2019 | |
Regulatory Matters, Commitments, Contingencies And Environmental Liabilities [Abstract] | |
Regulatory Matters, Commitments, Contingencies And Environmental Liabilities | REGULATORY MATTERS, COMMITMENTS, CONTINGENCIES AND ENVIRONMENTAL LIABILITIES FERC Proceedings By order issued January 16, 2019, the FERC initiated a review of Panhandle’s existing rates pursuant to Section 5 of the Natural Gas Act to determine whether the rates currently charged by Panhandle are just and reasonable and set the matter for hearing. On August 30, 2019, Panhandle filed a general rate proceeding under Section 4 of the Natural Gas Act. The Natural Gas Act Section 5 and Section 4 proceedings were consolidated by the order dated October 1, 2019. A hearing in the combined proceedings is scheduled for August, 2020, with an initial decision expected in early 2021. By order issued February 19, 2019, the FERC initiated a review of Southwest Gas’ existing rates pursuant to Section 5 of the Natural Gas Act to determine whether the rates currently charged by Southwest Gas are just and reasonable and set the matter for hearing. Southwest Gas filed a cost and revenue study on May 6, 2019. On July 10, 2019, Southwest Gas filed an Offer of Settlement in this Section 5 proceeding, which settlement was supported or not opposed by Commission Trial Staff and all active parties. By order dated October 29, 2019, the FERC approved the settlement as filed, and there is not a material impact on revenue. In addition, on November 30, 2018, Sea Robin filed a rate case pursuant to Section 4 of the Natural Gas Act. On July 22, 2019, Sea Robin filed an Offer of Settlement in this Section 4 proceeding, which settlement was supported or not opposed by Commission Trial Staff and all active parties. By order dated October 17, 2019, the FERC approved the settlement as filed, and there is not a material impact on revenue. Commitments In the normal course of business, ETO purchases, processes and sells natural gas pursuant to long-term contracts and enters into long-term transportation and storage agreements. Such contracts contain terms that are customary in the industry. ETO believes that the terms of these agreements are commercially reasonable and will not have a material adverse effect on its financial position or results of operations. Our joint venture agreements require that we fund our proportionate share of capital contributions to our unconsolidated affiliates. Such contributions will depend upon our unconsolidated affiliates’ capital requirements, such as for funding capital projects or repayment of long-term obligations. We have certain non-cancelable rights-of-way (“ROW”) commitments, which require fixed payments and either expire upon our chosen abandonment or at various dates in the future. The table below reflects ROW expense included in operating expenses in the accompanying statements of operations: Three Months Ended Nine Months Ended 2019 2018 2019 2018 ROW expense $ 5 $ 5 $ 17 $ 18 PES Refinery Fire and Bankruptcy We own an approximately 7.4% non-operating interest in PES, which owns a refinery in Philadelphia. In addition, the Partnership provides logistics services to PES under commercial contracts and Sunoco LP has historically purchased refined products from PES. In June 2019, an explosion and fire occurred at the refinery complex. On July 21, 2019 (the "Petition Date"), PES Holdings, LLC and seven of its subsidiaries (collectively, the "Debtors") filed voluntary petitions in the United States Bankruptcy Court for the District of Delaware seeking relief under the provisions of Chapter 11 of the United States Bankruptcy Code, as a result of the explosion and fire at the Philadelphia refinery complex. The Debtors have announced an intent to temporarily cease refinery operations. The Debtors have also defaulted on a $75 million note payable to a subsidiary of the Partnership. The Partnership has not recorded a valuation allowance related to the note receivable as of September 30, 2019, because management is not yet able to determine the collectability of the note in bankruptcy. In addition, the Partnership’s subsidiaries retained certain environmental remediation liabilities when the refinery was sold to PES. As of September 30, 2019, the Partnership has funded these environmental remediation liabilities through its wholly-owned captive insurance company, based upon actuarially determined estimates for such claims, and these liabilities are included in the total environmental liabilities discussed below under “Environmental Remediation.” It may be necessary for the Partnership to record additional environmental remediation liabilities in the future; however, management is not currently able to estimate such additional liabilities. PES has rejected certain of the Partnership’s commercial contracts pursuant to Section 365 of the Bankruptcy Code; however, the impact of the bankruptcy on the Partnership’s commercial contracts and related revenue loss (temporary or permanent) is unknown at this time, as the Debtors have expressed an intent to rebuild the refinery with the proceeds of insurance claims while concurrently running a sale process for its assets and operations. In addition, Sunoco LP has been successful at acquiring alternative supplies to replace fuel volume lost from PES and does not anticipate any material impact to its business going forward. Litigation and Contingencies We may, from time to time, be involved in litigation and claims arising out of our operations in the normal course of business. Natural gas and crude oil are flammable and combustible. Serious personal injury and significant property damage can arise in connection with their transportation, storage or use. In the ordinary course of business, we are sometimes threatened with or named as a defendant in various lawsuits seeking actual and punitive damages for product liability, personal injury and property damage. We maintain liability insurance with insurers in amounts and with coverage and deductibles management believes are reasonable and prudent, and which are generally accepted in the industry. However, there can be no assurance that the levels of insurance protection currently in effect will continue to be available at reasonable prices or that such levels will remain adequate to protect us from material expenses related to product liability, personal injury or property damage in the future. Dakota Access Pipeline On July 25, 2016, the United States Army Corps of Engineers (“USACE”) issued permits to Dakota Access, LLC (“Dakota Access”) to make two crossings of the Missouri River in North Dakota. The USACE also issued easements to allow the pipeline to cross land owned by the USACE adjacent to the Missouri River. On July 27, 2016, the Standing Rock Sioux Tribe (“SRST”) filed a lawsuit in the United States District Court for the District of Columbia (“the Court”) against the USACE and challenged the legality of these permits and claimed violations of the National Historic Preservation Act (“NHPA”). SRST also sought a preliminary injunction to rescind the USACE permits while the case was pending, which the Court denied on September 9, 2016. Dakota Access intervened in the case. The Cheyenne River Sioux Tribe (“CRST”) also intervened. SRST filed an amended complaint and added claims based on treaties between SRST and CRST and the United States and statutes governing the use of government property. In February 2017, in response to a Presidential memorandum, the Department of the Army delivered an easement to Dakota Access allowing the pipeline to cross Lake Oahe. CRST moved for a preliminary injunction and temporary restraining order (“TRO”) to block operation of the pipeline, which motion was denied, and raised claims based on the religious rights of CRST. In June 2017, SRST and CRST amended their complaints to incorporate religious freedom and other claims. In addition, the Oglala Sioux and Yankton Sioux tribes (collectively, “Tribes”) have filed related lawsuits to prevent construction of the Dakota Access pipeline project. These lawsuits have been consolidated into the action initiated by SRST. Several individual members of the Tribes have also intervened in the lawsuit asserting claims that overlap with those brought by the four Tribes. On June 14, 2017, the Court ruled on SRST’s and CRST’s motions for partial summary judgment and the USACE’s cross-motions for partial summary judgment. The Court concluded that the USACE had not violated trust duties owed to the Tribes and had generally complied with its obligations under the Clean Water Act, the Rivers and Harbors Act, the Mineral Leasing Act, the National Environmental Policy Act (“NEPA”) and other related statutes; however, the Court remanded to the USACE three discrete issues for further analysis and explanation of its prior determinations under certain of these statutes. In November 2017, the Yankton Sioux Tribe (“YST”), moved for partial summary judgment asserting claims similar to those already litigated and decided by the Court in its June 14, 2017 decision on similar motions by CRST and SRST. YST argues that the USACE and Fish and Wildlife Service violated NEPA, the Mineral Leasing Act, the Rivers and Harbors Act, and YST’s treaty and trust rights when the government granted the permits and easements necessary for the pipeline. On December 4, 2017, the Court imposed three conditions on continued operation of the pipeline during the remand process. First, Dakota Access must retain an independent third party to review its compliance with the conditions and regulations governing its easements and to assess integrity threats to the pipeline. The assessment report was filed with the Court. Second, the Court directed Dakota Access to continue its work with the Tribes and the USACE to revise and finalize its emergency spill response planning for the section of the pipeline crossing Lake Oahe. Dakota Access filed the revised plan with the Court. And third, the Court directed Dakota Access to submit bi-monthly reports during the remand period disclosing certain inspection and maintenance information related to the segment of the pipeline running between the valves on either side of the Lake Oahe crossing. The first and second reports were filed with the Court on December 29, 2017 and February 28, 2018, respectfully. On February 8, 2018, the Court docketed a motion by CRST to “compel meaningful consultation on remand.” SRST then made a similar motion for “clarification re remand process and remand conditions.” The motions sought an order from the Court directing the USACE as to how it should conduct its additional review on remand. Dakota Access and the USACE opposed both motions. On April 16, 2018, the Court denied both motions. On March 19, 2018, the Court denied YST’s motion for partial summary judgment and instead granted judgment in favor of Dakota Access pipeline and the USACE on the claims raised in YST’s motion. The Court concluded that YST’s NHPA claims are moot because construction of the pipeline is complete and that the government’s review process did not violate NEPA or the various treaties cited by the YST. On May 3, 2018, the Court ordered the USACE to file a status report by June 8, 2018 informing the Court when the USACE expects the remand process to be complete. On June 8, 2018, the USACE filed a status report stating that they would conclude the remand process by August 10, 2018. On August 7, 2018, the USACE informed the Court that they would need until August 31, 2018 to finish the remand process. On August 31, 2018, the USACE informed the Court that it had completed the remand process and that it had determined that the three issues remanded by the Court had been correctly decided. On October 1, 2018, the USACE produced a detailed remand analysis document supporting that determination. The Tribes and certain of the individuals sought leave of the Court to amend their complaints to challenge the remand process and the USACE’s decision on remand. On January 3, 2019, the Court granted the Tribes’ requests to supplement their respective complaints challenging the remand process, subject to defendants’ right to argue later that such supplementation may be overbroad and not permitted by law. On January 10, 2019, the Court denied the Oglala Sioux Tribe’s motion to amend its complaint to expand one of its pre-remand claims. On January 17, 2019, the DOJ, on behalf of the USACE, moved to stay the litigation in light of the lapse in appropriations for the DOJ. The Tribes and individual plaintiffs opposed that request. On January 28, 2019, the USACE moved to withdraw this motion because appropriations for the DOJ had been restored. The Court granted this motion the next day. On January 31, 2019, the USACE notified the Court that it had provided the administrative record for the remand to all parties. On February 27, 2019, the four Tribes filed a joint motion challenging the completeness of the record. The USACE opposed this motion in part, and Dakota Access opposed in full. On May 8, 2019, the Court issued an order on Plaintiffs’ motion to complete the administrative record, requiring the parties to submit additional information so that the Court can determine what documents, if any, should be added to the record. Following submittal of additional information by the parties, the Court issued an order on June 11, 2019 that determined which documents were to be added to the record. Plaintiffs filed motions for summary judgment on August 16, 2019, and Defendants filed their opposition and cross motions on October 9, 2019. Briefing is scheduled to conclude by November 20, 2019. While we believe that the pending lawsuits are unlikely to halt or suspend operation of the pipeline, we cannot assure this outcome. Energy Transfer cannot determine when or how these lawsuits will be resolved or the impact they may have on the Dakota Access project. Mont Belvieu Incident On June 26, 2016, a hydrocarbon storage well located on another operator’s facility adjacent to Lone Star NGL LLC’s (“Lone Star”) facilities in Mont Belvieu, Texas experienced an over-pressurization resulting in a subsurface release. The subsurface release caused a fire at Lone Star’s South Terminal and damage to Lone Star’s storage well operations at its South and North Terminals. Normal operations have resumed at the facilities with the exception of one of Lone Star’s storage wells. Lone Star is still quantifying the extent of its incurred and ongoing damages and has obtained, and will continue to seek, reimbursement for these losses. MTBE Litigation ETC Sunoco and Sunoco (R&M) (collectively, “Sunoco”) are defendants in lawsuits alleging MTBE contamination of groundwater. The plaintiffs, state-level governmental entities, assert product liability, nuisance, trespass, negligence, violation of environmental laws, and/or deceptive business practices claims. The plaintiffs seek to recover compensatory damages, and in some cases also seek natural resource damages, injunctive relief, punitive damages, and attorneys’ fees. As of September 30, 2019 , Sunoco is a defendant in five cases, including one case each initiated by the States of Maryland and Rhode Island, one by the Commonwealth of Pennsylvania and two by the Commonwealth of Puerto Rico. The more recent Puerto Rico action is a companion case alleging damages for additional sites beyond those at issue in the initial Puerto Rico action. The actions brought by the State of Maryland and Commonwealth of Pennsylvania have also named as defendants ETO, ETP Holdco Corporation, and Sunoco Partners Marketing & Terminals, L.P. (“SPMT”). It is reasonably possible that a loss may be realized in the remaining cases; however, we are unable to estimate the possible loss or range of loss in excess of amounts accrued. An adverse determination with respect to one or more of the MTBE cases could have a significant impact on results of operations during the period in which any such adverse determination occurs, but such an adverse determination likely would not have a material adverse effect on the Partnership’s consolidated financial position. Regency Merger Litigation Purported Regency unitholders filed lawsuits in state and federal courts in Dallas and Delaware asserting claims relating to the Regency-ETO merger (the “Regency Merger”). All but one Regency Merger-related lawsuits have been dismissed. On June 10, 2015, Adrian Dieckman (“Dieckman”), a purported Regency unitholder, filed a class action complaint in the Court of Chancery of the State of Delaware (the “Regency Merger Litigation”), on behalf of Regency’s common unitholders against Regency GP LP, Regency GP LLC, ET, ETO, ETP GP, and the members of Regency’s board of directors. The Regency Merger Litigation alleges that the Regency Merger breached the Regency partnership agreement because Regency’s conflicts committee was not properly formed, and the Regency Merger was not approved in good faith or fair to Regency. On March 29, 2016, the Delaware Court of Chancery granted the defendants’ motion to dismiss the lawsuit in its entirety. Dieckman appealed. On January 20, 2017, the Delaware Supreme Court reversed the judgment of the Court of Chancery. On May 5, 2017, Plaintiff filed an Amended Verified Class Action Complaint. The defendants then filed Motions to Dismiss the Amended Complaint and a Motion to Stay Discovery on May 19, 2017. On February 20, 2018, the Court of Chancery issued an Order granting in part and denying in part the motions to dismiss, dismissing the claims against all defendants other than Regency GP LP and Regency GP LLC (the “Regency Defendants”). On March 6, 2018, the Regency Defendants filed their Answer to Plaintiff’s Verified Amended Class Action Complaint. On April 26, 2019, the Court of Chancery granted Dieckman’s unopposed motion for class certification. On May 14, 2019, the Regency Defendants filed a motion for summary judgment arguing that Dieckman’s claims fail because the Regency Defendants relied on the advice of their financial advisor in approving the Regency Merger. Also on May 14, 2019, Dieckman filed a motion for partial summary judgment arguing, among other things, that Regency’s conflicts committee was not properly formed. On October 29, 2019, the court granted Plaintiff’s summary judgment motion, holding that Regency failed (1) to form a valid conflicts committee such that Regency failed to satisfy the Special Approval safe harbor in connection with the merger, and (2) to issue a proxy that was not materially misleading such that Regency failed to satisfy the Unitholder Approval safe harbor in connection with the merger. The court denied Defendants’ summary judgment motion which argued that Defendants approved the merger in good faith because they relied upon the fairness opinion of an investment bank. The court held that fact questions existed regarding whether Defendants actually relied upon the fairness opinion given by JP Morgan when voting in favor of the merger. Trial is currently set for December 10-16, 2019. The Regency Defendants cannot predict the outcome of the Regency Merger Litigation or any lawsuits that might be filed subsequent to the date of this filing; nor can the Regency Defendants predict the amount of time and expense that will be required to resolve the Regency Merger Litigation. The Regency Defendants believe the Regency Merger Litigation is without merit and intend to vigorously defend against it and any others that may be filed in connection with the Regency Merger. Enterprise Products Partners, L.P. and Enterprise Products Operating LLC Litigation On January 27, 2014, a trial commenced between ETO against Enterprise Products Partners, L.P. and Enterprise Products Operating LLC (collectively, “Enterprise”) and Enbridge (US) Inc. Trial resulted in a verdict in favor of ETO against Enterprise that consisted of $319 million in compensatory damages and $595 million in disgorgement to ETO. The jury also found that ETO owed Enterprise $1 million under a reimbursement agreement. On July 29, 2014, the trial court entered a final judgment in favor of ETO and awarded ETO $536 million , consisting of compensatory damages, disgorgement, and pre-judgment interest. The trial court also ordered that ETO shall be entitled to recover post-judgment interest and costs of court and that Enterprise is not entitled to any net recovery on its counterclaims. Enterprise filed a notice of appeal with the Court of Appeals. On July 18, 2017, the Court of Appeals issued its opinion and reversed the trial court’s judgment. ETO’s motion for rehearing to the Court of Appeals was denied. On November 27, 2017, ETO filed a Petition for Review with the Texas Supreme Court. On June 8, 2018, the Texas Supreme Court ordered briefing on the merits. On June 28, 2019, the Texas Supreme Court granted ETO’s petition for review and oral argument was heard on October 8, 2019. The parties now await a decision. Rover On November 3, 2017, the State of Ohio and the Ohio Environmental Protection Agency (“Ohio EPA”) filed suit against Rover and Pretec Directional Drilling, LLC (“Pretec”) seeking to recover approximately $2.6 million in civil penalties allegedly owed and certain injunctive relief related to permit compliance. Laney Directional Drilling Co., Atlas Trenchless, LLC, Mears Group, Inc., D&G Directional Drilling, Inc. d/b/a D&G Directional Drilling, LLC, and B&T Directional Drilling, Inc. (collectively, with Rover and Pretec, “Defendants”) were added as defendants on April 17, 2018 and July 18, 2018. Ohio EPA alleges that the Defendants illegally discharged millions of gallons of drilling fluids into Ohio’s waters that caused pollution and degraded water quality, and that the Defendants harmed pristine wetlands in Stark County. Ohio EPA further alleges that the Defendants caused the degradation of Ohio’s waters by discharging pollution in the form of sediment-laden storm water into Ohio’s waters and that Rover violated its hydrostatic permits by discharging effluent with greater levels of pollutants than those permits allowed and by not properly sampling or monitoring effluent for required parameters or reporting those alleged violations. Rover and other Defendants filed several motions to dismiss and Ohio EPA filed a motion in opposition. The State’s opposition to those motions was filed on October 12, 2018. Rover and other Defendants filed their replies on November 2, 2018. On March 13, 2019, the court granted Rover and the other Defendants’ motion to dismiss on all counts. On April 10, 2019, the Ohio EPA filed a notice of appeal. The Ohio EPA’s appeal is now pending before the Fifth District court of appeals. Briefing was completed in August of 2019 and oral argument has been set for November 5, 2019. In January 2018, Ohio EPA sent a letter to the FERC to express concern regarding drilling fluids lost down a hole during horizontal directional drilling (“HDD”) operations as part of the Rover Pipeline construction. Rover sent a January 24, 2018 response to the FERC and stated, among other things, that as Ohio EPA conceded, Rover was conducting its drilling operations in accordance with specified procedures that had been approved by the FERC and reviewed by the Ohio EPA. In addition, although the HDD operations were crossing the same resource as that which led to an inadvertent release of drilling fluids in April 2017, the drill in 2018 had been redesigned since the original crossing. Ohio EPA expressed concern that the drilling fluids could deprive organisms in the wetland of oxygen. Rover, however, has now fully remediated the site, a fact with which Ohio EPA concurs. Construction of Rover is now complete and the pipeline is fully operational. Bayou Bridge On January 11, 2018, environmental groups and a trade association filed suit against the USACE in the United States District Court for the Middle District of Louisiana. Plaintiffs allege that the USACE’s issuance of permits authorizing the construction of the Bayou Bridge Pipeline through the Atchafalaya Basin (“Basin”) violated the National Environmental Policy Act, the Clean Water Act, and the Rivers and Harbors Act. They asked the district court to vacate these permits and to enjoin construction of the project through the Basin until the USACE corrects alleged deficiencies in its decision-making process. ETO, through its subsidiary Bayou Bridge Pipeline, LLC (“Bayou Bridge”), intervened on January 26, 2018. On March 27, 2018, Bayou Bridge filed an answer to the complaint. On January 29, 2018, Plaintiffs filed motions for a preliminary injunction and TRO. United States District Court Judge Shelly Dick denied the TRO on January 30, 2018, but subsequently granted the preliminary injunction on February 23, 2018. On February 26, 2018, Bayou Bridge filed a notice of appeal and a motion to stay the February 23, 2018 preliminary injunction order. On February 27, 2018, Judge Dick issued an opinion that clarified her February 23, 2018 preliminary injunction order and denied Bayou Bridge’s February 26, 2018 motion to stay as moot. On March 1, 2018, Bayou Bridge filed a new notice of appeal and motion to stay the February 27, 2018 preliminary injunction order in the district court. On March 5, 2018, the district court denied the March 1, 2018 motion to stay the February 27, 2018 order. On March 2, 2018, Bayou Bridge filed a motion to stay the preliminary injunction in the Fifth Circuit. On March 15, 2018, the Fifth Circuit granted a stay of injunction pending appeal and found that Bayou Bridge “is likely to succeed on the merits of its claim that the district court abused its discretion in granting a preliminary injunction.” Oral arguments were heard on the merits of the appeal, that is, whether the district court erred in granting the preliminary injunction in the Fifth Circuit on April 30, 2018. The district court has stayed the merits case pending decision of the Fifth Circuit. On May 10, 2018, the district court stayed the litigation pending a decision from the Fifth Circuit. On July 6, 2018, the Fifth Circuit vacated the Preliminary Injunction and remanded the case back to the district court. Construction is ongoing. On August 14, 2018, Plaintiffs sought leave of court to amend their complaint to add an “as applied” challenge to the USACE’s application of the Louisiana Rapid Assessment Method to Bayou Bridge’s permits. Defendants’ filed motions in opposition on September 18, 2018. On September 18, 2018, Plaintiffs filed a motion for partial summary judgment on the issue of the USACE’s analysis of the risks of an oil spill once the pipeline is in operation. On November 6, 2018, the court struck plaintiffs’ motion as premature. At an October 2, 2018 scheduling conference, the USACE agreed to lodge the administrative record for Plaintiffs’ original complaint, which it has done. Challenges to the completeness of the record have been briefed and are currently pending before the court. At the October 18, 2018 conference, the court also scheduled summary judgment briefing on Plaintiffs’ original complaint; briefing is scheduled to conclude by the end of 2019. On December 28, 2018, Judge Dick issued a General Order for the Middle District of Louisiana holding in abeyance all civil matters where the United States is a party. Notwithstanding the General Order, on January 11, 2019, Plaintiffs prematurely filed a Motion for Summary Judgment on its National Environmental Policy Act and Clean Waters Act claims. On January 23, 2019, Plaintiffs filed a Second Motion for Preliminary Injunction based on alleged permit violations, which the court later denied. On February 11, 2019, the court denied Plaintiffs’ August 14, 2018 motion for leave to amend their complaint. On February 14, 2019, Judge Dick ordered that all summary judgment briefing is stayed until the court rules on the motions challenging the completeness of the administrative record. Judge Dick further ordered that once those motions are decided, the parties will be allowed to update any summary judgment briefs they have already filed, if necessary, and that the court will set new briefing deadlines. On April 26, 2019, Plaintiffs filed a motion seeking reconsideration of Judge Dick’s February 14, 2019 order staying summary judgment briefing. Defendants filed their oppositions on May 6, 2019. On May 14, 2019, Judge Dick issued orders denying the outstanding record motions and Plaintiffs’ motion seeking reconsideration of the February 14, 2019 order. On May 22, 2019, in a telephonic status conference, Judge Dick set a schedule for summary judgment briefing. Plaintiffs filed their motion for summary judgment on July 8, 2019 and Defendants filed their oppositions and cross-motions on August 9, 2019. Briefing is now concluded and the motions are before the court. Revolution On September 10, 2018, a pipeline release and fire (the “Incident”) occurred on the Revolution pipeline, a natural gas gathering line, in the vicinity of Ivy Lane located in Center Township, Beaver County, Pennsylvania. There were no injuries, but there were evacuations of local residents as a precautionary measure. The Pennsylvania Department of Environmental Protection (“PADEP”) and the Pennsylvania Public Utility Commission (“PUC”) are investigating the incident. On October 29, 2018, PADEP issued a Compliance Order requiring our subsidiary, ETC Northeast Pipeline, LLC (“ETC Northeast”), to cease all earth disturbance activities at the site (except as necessary to repair and maintain existing Best Management Practices (“BMPs”) and temporarily stabilize disturbed areas), implement and/or maintain the Erosion and Sediment BMPs at the site, stake the limit of disturbance, identify and report all areas of non-compliance, and submit an updated Erosion and Sediment Control Plan, a Temporary Stabilization Plan, and an updated Post Construction Stormwater Management Plan. The scope of the Compliance Order has been expanded to include the disclosure to PADEP of alleged violations of environmental permits with respect to various construction and post-construction activities and restoration obligations along the 42 -mile route of the Revolution line. ETC Northeast filed an appeal of the Compliance Order with the Pennsylvania Environmental Hearing Board. On February 8, 2019, PADEP filed a Petition to Enforce the Compliance Order with Pennsylvania’s Commonwealth Court. The court issued an Order on February 14, 2019 requiring the submission of an answer to the Petition on or before March 12, 2019, and scheduled a hearing on the Petition for March 26, 2019. On March 12, 2019, ETC Northeast answered the Petition. ETC Northeast and PADEP have since agreed to a Stipulated Order regarding the issues raised in the Compliance Order, which obviated the need for a hearing. The Commonwealth Court approved the Stipulated Order on March 26, 2019. On February 8, 2019, PADEP also issued a Permit Hold on any requests for approvals/permits or permit amendments made by us or any of our subsidiaries for any projects in Pennsylvania pursuant to the state’s water laws. The Partnership filed an appeal of the Permit Hold with the Pennsylvania Environmental Hearing Board on March 11, 2019. On May 14, 2019, PADEP issued a Compliance Order related to impacts to streams and wetlands. The Partnership filed an appeal of the Streams and Wetlands Compliance Order on June 14, 2019. On August 5, 2019, ETC Northeast and the Partnership received a Subpoena to Compel Documents and Information related to the Revolution pipeline and the Incident. ETC Northeast and the Partnership filed an appeal of the Subpoena on September 4, 2019. The Partnership continues to work through these issues with PADEP during the pendency of these appeals. The Pennsylvania Office of Attorney General has commenced an investigation regarding the Incident, and the United States Attorney for the Western District of Pennsylvania has issued a federal grand jury subpoena for documents relevant to the Incident. The scope of these investigations is not further known at this time. Chester County, Pennsylvania Investigation In December 2018, the Chester County District Attorney sent a letter to the Partnership stating that it was investigating the Partnership and related entities for “potential crimes” related to the Mariner East pipelines. Subsequently, the matter was submitted to an Investigating grand Jury in Chester County, Pennsylvania. As part of the Grand Jury proceedings, since April and August 2019, the Partnership was served with a total of forty-one grand jury subpoenas seeking a variety of documents and records sought by the Chester County Investigation Grand Jury. On September 24, 2019, the Chester County District Attorney sent a Not |
Revenue (Notes)
Revenue (Notes) | 9 Months Ended |
Sep. 30, 2019 | |
Revenue [Abstract] | |
Revenue from Contract with Customer [Text Block] | REVENUE Disaggregation of Revenue The Partnership’s consolidated financial statements reflect eight reportable segments, which also represent the level at which the Partnership aggregates revenue for disclosure purposes. Note 15 depicts the disaggregation of revenue by segment. Contract Balances with Customers The Partnership satisfies its obligations by transferring goods or services in exchange for consideration from customers. The timing of performance may differ from the timing the associated consideration is paid to or received from the customer, thus resulting in the recognition of a contract asset or a contract liability. The Partnership recognizes a contract asset when making upfront consideration payments to certain customers or when providing services to customers prior to the time at which the Partnership is contractually allowed to bill for such services. The Partnership recognizes a contract liability if the customer's payment of consideration precedes the Partnership’s fulfillment of the performance obligations. Certain contracts contain provisions requiring customers to pay a fixed fee for a right to use our assets, but allows customers to apply such fees against services to be provided at a future point in time. These amounts are reflected as prepayments or deferred revenue until the customer applies the deficiency fees to services provided or becomes unable to use the fees as payment for future services due to expiration of the contractual period the fees can be applied or physical inability of the customer to utilize the fees due to capacity constraints. Additionally, Sunoco LP maintains some franchise agreements requiring dealers to make one-time upfront payments for long term license agreements. Sunoco LP recognizes a contract liability when the upfront payment is received and recognizes revenue over the term of the license. The following table summarizes the consolidated activity of our contract liabilities: Contract Liabilities Balance, December 31, 2018 $ 392 Additions 448 Revenue recognized (491 ) Balance, September 30, 2019 $ 349 Balance, January 1, 2018 $ 205 Additions 409 Revenue recognized (211 ) Balance, September 30, 2018 $ 403 The balances of receivables from contracts with customers listed in the table below, all of which are attributable to Sunoco LP, include both current trade receivables and long-term receivables, net of allowance for doubtful accounts. The allowance for receivables represents Sunoco LP’s best estimate of the probable losses associated with potential customer defaults. Sunoco LP determines the allowance based on historical experience and on a specific identification basis. The balances of Sunoco LP’s contract assets as of September 30, 2019 and December 31, 2018 were as follows: September 30, 2019 December 31, 2018 Contract asset balances: Contract asset $ 102 $ 75 Accounts receivable from contracts with customers 403 348 Costs to Obtain or Fulfill a Contract Sunoco LP recognizes an asset from the costs incurred to obtain a contract (e.g. sales commissions) only if it expects to recover those costs. On the other hand, the costs to fulfill a contract are capitalized if the costs are specifically identifiable to a contract, would result in enhancing resources that will be used in satisfying performance obligations in the future, and are expected to be recovered. These capitalized costs are recorded as a part of other current assets and other non-current assets and are amortized on a systematic basis consistent with the pattern of transfer of the goods or services to which such costs relate. The amount of amortization expense that Sunoco LP recognized for the three months ended September 30, 2019 and 2018 was $4 million and $4 million , respectively. The amount of amortization expense that Sunoco LP recognized for the nine months ended September 30, 2019 and 2018 was $12 million and $10 million , respectively. Sunoco LP has also made a policy election of expensing the costs to obtain a contract, as and when they are incurred, in cases where the expected amortization period is one year or less. Performance Obligations At contract inception, the Partnership assesses the goods and services promised in its contracts with customers and identifies a performance obligation for each promise to transfer a good or service (or bundle of goods or services) that is distinct. To identify the performance obligations, the Partnership considers all the goods or services promised in the contract, whether explicitly stated or implied based on customary business practices. For a contract that has more than one performance obligation, the Partnership allocates the total expected contract consideration to each distinct performance obligation based on a standalone-selling price basis. Revenue is recognized when (or as) the performance obligations are satisfied, that is, when the customer obtains control of the good or service. Certain of our contracts contain variable components, which, when combined with the fixed component are considered a single performance obligation. For these types of contacts, only the fixed component of the contracts are included in the table below. As of September 30, 2019 , the aggregate amount of transaction price allocated to unsatisfied (or partially satisfied) performance obligations is $41.13 billion , and the Partnership expects to recognize this amount as revenue within the time bands illustrated below: Years Ending December 31, 2019 (remainder) 2020 2021 Thereafter Total Revenue expected to be recognized on contracts with customers existing as of September 30, 2019 $ 1,716 $ 5,544 $ 4,812 $ 29,062 $ 41,134 |
Lease Accounting (Notes)
Lease Accounting (Notes) | 9 Months Ended |
Sep. 30, 2019 | |
Leases [Abstract] | |
Lessee, Operating Leases [Text Block] | LEASE ACCOUNTING Lessee Accounting The Partnership leases terminal facilities, tank cars, office space, land and equipment under non-cancelable operating leases whose initial terms are typically five to 15 years, with some real estate leases having terms of 40 years or more, along with options that permit renewals for additional periods. At the inception of each, we determine if the arrangement is a lease or contains an embedded lease and review the facts and circumstances of the arrangement to classify lease assets as operating or finance leases under Topic 842. The Partnership has elected not to record any leases with terms of 12 months or less on the balance sheet. At present, the majority of the Partnership’s active leases are classified as operating in accordance with Topic 842. Balances related to operating leases are included in operating lease ROU assets, accrued and other current liabilities, operating lease current liabilities and non-current operating lease liabilities in our consolidated balance sheets. Finance leases represent a small portion of the active lease agreements and are included in finance lease ROU assets, current maturities of long-term debt and long-term debt, less current maturities in our consolidated balance sheets. The ROU assets represent the Partnership’s right to use an underlying asset for the lease term and lease liabilities represent the obligation of the Partnership to make minimum lease payments arising from the lease for the duration of the lease term. Most leases include one or more options to renew, with renewal terms that can extend the lease term from one to 20 years or greater. The exercise of lease renewal options is typically at the sole discretion of the Partnership, and lease extensions are evaluated on a lease-by-lease basis. Leases containing early termination clauses typically require the agreement of both parties to the lease. At the inception of a lease, all renewal options reasonably certain to be exercised are considered when determining the lease term. Presently, the Partnership does not have leases that include options to purchase or automatic transfer of ownership of the leased property to the Partnership. The depreciable life of lease assets and leasehold improvements are limited by the expected lease term. To determine the present value of future minimum lease payments, we use the implicit rate when readily determinable. Presently, because many of our leases do not provide an implicit rate, the Partnership applies its incremental borrowing rate based on the information available at the lease commencement date to determine the present value of minimum lease payments. The operating and finance lease ROU assets include any lease payments made and exclude lease incentives. Minimum rent payments are expensed on a straight-line basis over the term of the lease. In addition, some leases require additional contingent or variable lease payments, which are based on the factors specific to the individual agreement. Variable lease payments the Partnership is typically responsible for include payment of real estate taxes, maintenance expenses and insurance. For short-term leases (leases that have term of twelve months or less upon commencement), lease payments are recognized on a straight-line basis and no ROU assets are recorded. The components of operating and finance lease amounts recognized in the accompanying consolidated balance sheet as of September 30, 2019 were as follows: September 30, 2019 Operating leases: Lease right-of-use assets, net $ 850 Operating lease current liabilities 57 Accrued and other current liabilities 1 Non-current operating lease liabilities 807 Finance leases: Property, plant and equipment, net $ 2 Lease right-of-use assets, net 39 Accrued and other current liabilities 1 Current maturities of long-term debt 7 Long-term debt, less current maturities 35 Other non-current liabilities 2 The components of lease expense for the three and nine months ended September 30, 2019 were as follows: Income Statement Location Three Months Ended September 30, 2019 Nine Months Ended September 30, 2019 Operating lease costs: Operating lease cost Cost of goods sold $ 7 $ 23 Operating lease cost Operating expenses 18 54 Operating lease cost Selling, general and administrative 3 10 Total operating lease costs 28 87 Finance lease costs: Amortization of lease assets Depreciation, depletion and amortization 2 4 Interest on lease liabilities Interest expense, net of capitalized interest 1 1 Total finance lease costs 3 5 Short-term lease cost Operating expenses 10 33 Variable lease cost Operating expenses 3 11 Lease costs, gross 44 136 Less: Sublease income Other revenue 14 37 Lease costs, net $ 30 $ 99 The weighted average remaining lease terms and weighted average discount rates as of September 30, 2019 were as follows: September 30, 2019 Weighted-average remaining lease term (years): Operating leases 22 Finance leases 6 Weighted-average discount rate (%): Operating leases 5 % Finance leases 5 % Cash flows and non-cash activity related to leases for the nine months ended September 30, 2019 were as follows: Nine Months Ended September 30, 2019 Operating cash flows from operating leases $ (78 ) Lease assets obtained in exchange for new finance lease liabilities 37 Lease assets obtained in exchange for new operating lease liabilities 36 Maturities of lease liabilities as of September 30, 2019 are as follows: Operating Leases Finance Leases Total 2019 (remainder) $ 27 $ 2 $ 29 2020 96 10 106 2021 87 10 97 2022 75 10 85 2023 70 9 79 Thereafter 1,170 10 1,180 Total lease payments 1,525 51 1,576 Less: present value discount 660 6 666 Present value of lease liabilities $ 865 $ 45 $ 910 Lessor Accounting Sunoco LP leases or subleases a portion of its real estate portfolio to third-party companies as a stable source of long-term revenue. Sunoco LP’s lessor and sublease portfolio consists mainly of operating leases with convenience store operators. At this time, most lessor agreements contain five -year terms with renewal options to extend and early termination options based on established terms specific to the individual agreement. Rental income included in other revenue in our consolidated statement of operations for the three and nine months ended September 30, 2019 was $39 million and $111 million , respectively. Future minimum operating lease payments receivable as of September 30, 2019 are as follows: Lease Receivables 2019 (remainder) $ 25 2020 85 2021 69 2022 56 2023 4 Thereafter 7 Total undiscounted cash flows $ 246 |
Derivative Assets And Liabiliti
Derivative Assets And Liabilities | 9 Months Ended |
Sep. 30, 2019 | |
General Discussion of Derivative Instruments and Hedging Activities [Abstract] | |
Price Risk Management Assets and Liabilities | DERIVATIVE ASSETS AND LIABILITIES Commodity Price Risk We are exposed to market risks related to the volatility of commodity prices. To manage the impact of volatility from these prices, we utilize various exchange-traded and OTC commodity financial instrument contracts. These contracts consist primarily of futures, swaps and options and are recorded at fair value in our consolidated balance sheets. We use futures and basis swaps, designated as fair value hedges, to hedge our natural gas inventory stored in our Bammel storage facility. At hedge inception, we lock in a margin by purchasing gas in the spot market or off peak season and entering into a financial contract. Changes in the spreads between the forward natural gas prices and the physical inventory spot price result in unrealized gains or losses until the underlying physical gas is withdrawn and the related designated derivatives are settled. Once the gas is withdrawn and the designated derivatives are settled, the previously unrealized gains or losses associated with these positions are realized. We use futures, swaps and options to hedge the sales price of natural gas we retain for fees in our intrastate transportation and storage segment and operational gas sales in our interstate transportation and storage segment. These contracts are not designated as hedges for accounting purposes. We use NGL and crude derivative swap contracts to hedge forecasted sales of NGL and condensate equity volumes we retain for fees in our midstream segment whereby our subsidiaries generally gather and process natural gas on behalf of producers, sell the resulting residue gas and NGL volumes at market prices and remit to producers an agreed upon percentage of the proceeds based on an index price for the residue gas and NGL. These contracts are not designated as hedges for accounting purposes. We utilize swaps, futures and other derivative instruments to mitigate the risk associated with market movements in the price of refined products and NGLs to manage our storage facilities and the purchase and sale of purity NGL. These contracts are not designated as hedges for accounting purposes. We use futures and swaps to achieve ratable pricing of crude oil purchases, to convert certain expected refined product sales to fixed or floating prices, to lock in margins for certain refined products and to lock in the price of a portion of natural gas purchases or sales. These contracts are not designated as hedges for accounting purposes. We use financial commodity derivatives to take advantage of market opportunities in our trading activities which complement our transportation and storage segment’s operations and are netted in cost of products sold in our consolidated statements of operations. We also have trading and marketing activities related to power and natural gas in our all other segment which are also netted in cost of products sold. As a result of our trading activities and the use of derivative financial instruments in our transportation and storage segment, the degree of earnings volatility that can occur may be significant, favorably or unfavorably, from period to period. We attempt to manage this volatility through the use of daily position and profit and loss reports provided to our risk oversight committee, which includes members of senior management, and the limits and authorizations set forth in our commodity risk management policy. The following table details our outstanding commodity-related derivatives: September 30, 2019 December 31, 2018 Notional Volume Maturity Notional Volume Maturity Mark-to-Market Derivatives (Trading) Natural Gas (BBtu): Basis Swaps IFERC/NYMEX (1) 20,563 2019-2024 16,845 2019-2020 Fixed Swaps/Futures 1,723 2019-2020 468 2019 Options – Puts — — 10,000 2019 Power (Megawatt): Forwards 2,847,350 2019-2029 3,141,520 2019 Futures 222,440 2019-2020 56,656 2019-2021 Options – Puts 515,317 2019-2020 18,400 2019 Options – Calls (756,153 ) 2019-2021 284,800 2019 (Non-Trading) Natural Gas (BBtu): Basis Swaps IFERC/NYMEX (23,653 ) 2019-2022 (30,228 ) 2019-2021 Swing Swaps IFERC 22,365 2019-2020 54,158 2019-2020 Fixed Swaps/Futures 2,323 2019-2021 (1,068 ) 2019-2021 Forward Physical Contracts (29,492 ) 2019-2021 (123,254 ) 2019-2020 NGLs (MBbls) – Forwards/Swaps (9,687 ) 2019-2021 (2,135 ) 2019 Refined Products (MBbls) – Futures (906 ) 2019-2021 (1,403 ) 2019 Crude (MBbls) – Forwards/Swaps 9,510 2019-2020 20,888 2019 Corn (thousand bushels) (1,760 ) 2019 (1,920 ) 2019 Fair Value Hedging Derivatives (Non-Trading) Natural Gas (BBtu): Basis Swaps IFERC/NYMEX (31,703 ) 2019-2020 (17,445 ) 2019 Fixed Swaps/Futures (31,703 ) 2019-2020 (17,445 ) 2019 Hedged Item – Inventory 31,703 2019-2020 17,445 2019 (1) Includes aggregate amounts for open positions related to Houston Ship Channel, Waha Hub, NGPL TexOk, West Louisiana Zone and Henry Hub locations. Interest Rate Risk We are exposed to market risk for changes in interest rates. To maintain a cost effective capital structure, we borrow funds using a mix of fixed rate debt and variable rate debt. We also manage our interest rate exposure by utilizing interest rate swaps to achieve a desired mix of fixed and variable rate debt. We also utilize forward starting interest rate swaps to lock in the rate on a portion of our anticipated debt issuances. The following table summarizes our interest rate swaps outstanding, none of which were designated as hedges for accounting purposes: Term Type (1) Notional Amount Outstanding September 30, 2019 December 31, 2018 July 2019 (2) Forward-starting to pay a fixed rate of 3.56% and receive a floating rate $ — $ 400 July 2020 (2) Forward-starting to pay a fixed rate of 3.52% and receive a floating rate 400 400 July 2021 (2) Forward-starting to pay a fixed rate of 3.55% and receive a floating rate 400 400 July 2022 (2) Forward-starting to pay a fixed rate of 3.80% and receive a floating rate 400 — March 2019 Pay a floating rate and receive a fixed rate of 1.42% — 300 (1) Floating rates are based on 3-month LIBOR. (2) Represents the effective date. These forward-starting swaps have terms of 30 years with a mandatory termination date the same as the effective date. Credit Risk Credit risk refers to the risk that a counterparty may default on its contractual obligations resulting in a loss to the Partnership. Credit policies have been approved and implemented to govern the Partnership’s portfolio of counterparties with the objective of mitigating credit losses. These policies establish guidelines, controls and limits to manage credit risk within approved tolerances by mandating an appropriate evaluation of the financial condition of existing and potential counterparties, monitoring agency credit ratings, and by implementing credit practices that limit exposure according to the risk profiles of the counterparties. Furthermore, the Partnership may, at times, require collateral under certain circumstances to mitigate credit risk as necessary. The Partnership also uses industry standard commercial agreements which allow for the netting of exposures associated with transactions executed under a single commercial agreement. Additionally, we utilize master netting agreements to offset credit exposure across multiple commercial agreements with a single counterparty or affiliated group of counterparties. The Partnership’s counterparties consist of a diverse portfolio of customers across the energy industry, including petrochemical companies, commercial and industrial end-users, oil and gas producers, municipalities, gas and electric utilities, midstream companies and independent power generators. Our overall exposure may be affected positively or negatively by macroeconomic or regulatory changes that impact our counterparties to one extent or another. Currently, management does not anticipate a material adverse effect in our financial position or results of operations as a consequence of counterparty non-performance. The Partnership has maintenance margin deposits with certain counterparties in the OTC market, primarily with independent system operators and with clearing brokers. Payments on margin deposits are required when the value of a derivative exceeds our pre-established credit limit with the counterparty. Margin deposits are returned to us on or about the settlement date for non-exchange traded derivatives, and we exchange margin calls on a daily basis for exchange traded transactions. Since the margin calls are made daily with the exchange brokers, the fair value of the financial derivative instruments are deemed current and netted in deposits paid to vendors within other current assets in the consolidated balance sheets. For financial instruments, failure of a counterparty to perform on a contract could result in our inability to realize amounts that have been recorded on our consolidated balance sheets and recognized in net income or other comprehensive income. Derivative Summary The following table provides a summary of our derivative assets and liabilities: Fair Value of Derivative Instruments Asset Derivatives Liability Derivatives September 30, 2019 December 31, 2018 September 30, 2019 December 31, 2018 Derivatives designated as hedging instruments: Commodity derivatives (margin deposits) $ 16 $ — $ — $ (13 ) Derivatives not designated as hedging instruments: Commodity derivatives (margin deposits) 543 402 (520 ) (397 ) Commodity derivatives 120 158 (77 ) (173 ) Interest rate derivatives — — (528 ) (163 ) 663 560 (1,125 ) (733 ) Total derivatives $ 679 $ 560 $ (1,125 ) $ (746 ) The following table presents the fair value of our recognized derivative assets and liabilities on a gross basis and amounts offset on the consolidated balance sheets that are subject to enforceable master netting arrangements or similar arrangements: Asset Derivatives Liability Derivatives Balance Sheet Location September 30, 2019 December 31, 2018 September 30, 2019 December 31, 2018 Derivatives without offsetting agreements Derivative liabilities $ — $ — $ (528 ) $ (163 ) Derivatives in offsetting agreements: OTC contracts Derivative assets (liabilities) 120 158 (77 ) (173 ) Broker cleared derivative contracts Other current assets (liabilities) 559 402 (520 ) (410 ) Total gross derivatives 679 560 (1,125 ) (746 ) Offsetting agreements: Counterparty netting Derivative assets (liabilities) (64 ) (47 ) 64 47 Counterparty netting Other current assets (liabilities) (519 ) (397 ) 519 397 Total net derivatives $ 96 $ 116 $ (542 ) $ (302 ) We disclose the non-exchange traded financial derivative instruments as derivative assets and liabilities on our consolidated balance sheets at fair value with amounts classified as either current or non-current depending on the anticipated settlement date. The following tables summarize the amounts recognized in income with respect to our derivative financial instruments: Location of Gain Recognized in Income on Derivatives Amount of Gain Recognized in Income Representing Hedge Ineffectiveness and Amount Excluded from the Assessment of Effectiveness Three Months Ended Nine Months Ended 2019 2018 2019 2018 Derivatives in fair value hedging relationships (including hedged item): Commodity derivatives Cost of products sold $ — $ — $ — $ 9 Location of Gain (Loss) Recognized in Income on Derivatives Amount of Gain (Loss) Recognized in Income on Derivatives Three Months Ended Nine Months Ended 2019 2018 2019 2018 Derivatives not designated as hedging instruments: Commodity derivatives – Trading Cost of products sold $ 3 $ 3 $ 15 $ 36 Commodity derivatives – Non-trading Cost of products sold 21 21 (53 ) (345 ) Interest rate derivatives Gains (losses) on interest rate derivatives (175 ) 45 (371 ) 117 Total $ (151 ) $ 69 $ (409 ) $ (192 ) |
Related Party Transactions
Related Party Transactions | 9 Months Ended |
Sep. 30, 2019 | |
Related Party Transactions [Abstract] | |
Related Party Transactions | RELATED PARTY TRANSACTIONS In October 2018, in connection with the Energy Transfer Merger, ET and ETO entered into an intercompany promissory note due from ET to ETO (“ET-ETO Promissory Note A”) for an aggregate amount up to $2.20 billion that accrues interest at a weighted average rate based on interest payable by ETO on its outstanding indebtedness. The ET-ETO Promissory Note A matures on October 18, 2019. As of September 30, 2019 and December 31, 2018 , the ET-ETO Promissory Note A had outstanding balances of $0 million and $440 million , respectively. In March 2019, in connection with the ET-ETO senior notes exchange, ET and ETO entered into an intercompany promissory note due from ET to ETO (“ET-ETO Promissory Note B” and, together with the ET-ETO Promissory Note A, the “ET-ETO Promissory Notes”) for an aggregate amount up to $4.25 billion that accrues interest at a weighted average rate based on interest payable by ETO on its outstanding indebtedness. The ET-ETO Promissory Note B matures on December 31, 2024. As of September 30, 2019 , the ET-ETO Promissory Note B had an outstanding balance of $3.69 billion . Interest income attributable to the ET-ETO Promissory Notes included in other income, net in our consolidated statements of operations for the three and nine months ended September 30, 2019 was $56 million and $144 million , respectively. As of September 30, 2019 , ETO has a long-term intercompany payable due to ET of $85 million , which has been netted against the outstanding promissory notes receivable in our consolidated balance sheet. The Partnership also has related party transactions with several of its unconsolidated affiliates. In addition to commercial transactions, these transactions include the provision of certain management services and leases of certain assets. The following table summarizes the revenues from related companies on our consolidated statements of operations: Three Months Ended Nine Months Ended 2019 2018 2019 2018 Revenues from related companies $ 129 $ 103 $ 374 $ 325 The following table summarizes the accounts receivable from and accounts payable to related companies on our consolidated balance sheets: September 30, 2019 December 31, 2018 Accounts receivable from related companies: ET $ 71 $ 65 FGT 51 25 Phillips 66 36 42 Traverse 25 — Other 41 44 Total accounts receivable from related companies $ 224 $ 176 Accounts payable to related companies: ET $ — $ 59 Other 23 60 Total accounts payable to related companies $ 23 $ 119 |
Reportable Segments
Reportable Segments | 9 Months Ended |
Sep. 30, 2019 | |
Reportable Segments [Abstract] | |
Reportable Segments | REPORTABLE SEGMENTS As a result of the Energy Transfer Merger in October 2018, our reportable segments were reevaluated and currently reflect the following segments, which conduct their business primarily in the United States: • intrastate transportation and storage ; • interstate transportation and storage ; • midstream ; • NGL and refined products transportation and services ; • crude oil transportation and services ; • investment in Sunoco LP ; • investment in USAC ; and • all other . Consolidated revenues and expenses reflect the elimination of all material intercompany transactions. The investment in USAC segment reflects the results of USAC beginning April 2018, the date that the Partnership obtained control of USAC. Revenues from our intrastate transportation and storage segment are primarily reflected in natural gas sales and gathering, transportation and other fees. Revenues from our interstate transportation and storage segment are primarily reflected in gathering, transportation and other fees. Revenues from our midstream segment are primarily reflected in natural gas sales, NGL sales and gathering, transportation and other fees. Revenues from our NGL and refined products transportation and services segment are primarily reflected in NGL sales and gathering, transportation and other fees. Revenues from our crude oil transportation and services segment are primarily reflected in crude sales. Revenues from our investment in Sunoco LP segment are primarily reflected in refined product sales. Revenues from our investment in USAC segment are primarily reflected in gathering, transportation and other fees. Revenues from our all other segment are primarily reflected in natural gas sales. We report Segment Adjusted EBITDA and consolidated Adjusted EBITDA as measures of segment performance. We define Segment Adjusted EBITDA and consolidated Adjusted EBITDA as total partnership earnings before interest, taxes, depreciation, depletion, amortization and other non-cash items, such as non-cash compensation expense, gains and losses on disposals of assets, the allowance for equity funds used during construction, unrealized gains and losses on commodity risk management activities, inventory valuation adjustments, non-cash impairment charges, losses on extinguishments of debt and other non-operating income or expense items. Segment Adjusted EBITDA and consolidated Adjusted EBITDA reflect amounts for unconsolidated affiliates based on the same recognition and measurement methods used to record equity in earnings of unconsolidated affiliates. Adjusted EBITDA related to unconsolidated affiliates excludes the same items with respect to the unconsolidated affiliate as those excluded from the calculation of Segment Adjusted EBITDA and consolidated Adjusted EBITDA, such as interest, taxes, depreciation, depletion, amortization and other non-cash items. Although these amounts are excluded from Adjusted EBITDA related to unconsolidated affiliates, such exclusion should not be understood to imply that we have control over the operations and resulting revenues and expenses of such affiliates. We do not control our unconsolidated affiliates; therefore, we do not control the earnings or cash flows of such affiliates. The use of Segment Adjusted EBITDA or Adjusted EBITDA related to unconsolidated affiliates as an analytical tool should be limited accordingly. The following tables present financial information by segment: Three Months Ended Nine Months Ended 2019 2018 2019 2018 Revenues: Intrastate transportation and storage: Revenues from external customers $ 675 $ 846 $ 2,115 $ 2,424 Intersegment revenues 89 76 270 186 764 922 2,385 2,610 Interstate transportation and storage: Revenues from external customers 475 440 1,454 1,174 Intersegment revenues 4 5 16 13 479 445 1,470 1,187 Midstream: Revenues from external customers 704 537 1,704 1,571 Intersegment revenues 876 1,716 2,792 4,170 1,580 2,253 4,496 5,741 NGL and refined products transportation and services: Revenues from external customers 2,271 2,845 7,340 7,467 Intersegment revenues 607 218 1,181 710 2,878 3,063 8,521 8,177 Crude oil transportation and services: Revenues from external customers 4,453 4,422 13,685 12,942 Intersegment revenues — 16 — 44 4,453 4,438 13,685 12,986 Investment in Sunoco LP: Revenues from external customers 4,328 4,760 12,494 13,114 Intersegment revenues 3 1 4 3 4,331 4,761 12,498 13,117 Investment in USAC: Revenues from external customers 169 166 505 331 Intersegment revenues 6 3 15 5 175 169 520 336 All other: Revenues from external customers 420 498 1,196 1,491 Intersegment revenues 21 27 80 108 441 525 1,276 1,599 Eliminations (1,606 ) (2,062 ) (4,358 ) (5,239 ) Total revenues $ 13,495 $ 14,514 $ 40,493 $ 40,514 Three Months Ended Nine Months Ended 2019 2018 2019 2018 Segment Adjusted EBITDA: Intrastate transportation and storage $ 235 $ 221 $ 777 $ 621 Interstate transportation and storage 442 459 1,358 1,200 Midstream 411 434 1,205 1,225 NGL and refined products transportation and services 667 498 1,923 1,410 Crude oil transportation and services 700 682 2,257 1,694 Investment in Sunoco LP 192 208 497 457 Investment in USAC 104 90 310 185 All other 37 (6 ) 83 69 Total 2,788 2,586 8,410 6,861 Depreciation, depletion and amortization (782 ) (747 ) (2,334 ) (2,100 ) Interest expense, net of capitalized interest (575 ) (446 ) (1,680 ) (1,246 ) Impairment losses (12 ) — (62 ) — Gains (losses) on interest rate derivatives (175 ) 45 (371 ) 117 Non-cash compensation expense (27 ) (27 ) (85 ) (82 ) Unrealized gains (losses) on commodity risk management activities 64 97 90 (255 ) Losses on extinguishments of debt — — (2 ) (109 ) Inventory valuation adjustments (26 ) (7 ) 71 50 Adjusted EBITDA related to unconsolidated affiliates (161 ) (179 ) (470 ) (503 ) Equity in earnings of unconsolidated affiliates 82 87 224 258 Adjusted EBITDA related to discontinued operations — — — 25 Other, net 103 32 211 58 Income from continuing operations before income tax expense 1,279 1,441 4,002 3,074 Income tax (expense) benefit from continuing operations (55 ) 52 (216 ) (7 ) Income from continuing operations 1,224 1,493 3,786 3,067 Loss from discontinued operations, net of income taxes — (2 ) — (265 ) Net income $ 1,224 $ 1,491 $ 3,786 $ 2,802 |
Guarantor Financial Information
Guarantor Financial Information (Notes) | 9 Months Ended |
Sep. 30, 2019 | |
Guarantor Financial Information [Abstract] | |
Condensed Financial Information of Parent Company Only Disclosure [Text Block] | CONSOLIDATING GUARANTOR FINANCIAL INFORMATION Sunoco Logistics Partners Operations L.P., a subsidiary of ETO, is the issuer of multiple series of senior notes that are guaranteed by ETO. These guarantees are full and unconditional. For the purposes of this footnote, Energy Transfer Operating, L.P. is referred to as “Parent Guarantor” and Sunoco Logistics Partners Operations L.P. is referred to as “Subsidiary Issuer.” All other consolidated subsidiaries of the Partnership are collectively referred to as “Non-Guarantor Subsidiaries.” The following supplemental condensed consolidating financial information reflects the Parent Guarantor’s separate accounts, the Subsidiary Issuer’s separate accounts, the combined accounts of the Non-Guarantor Subsidiaries, the combined consolidating adjustments and eliminations, and the Parent Guarantor’s consolidated accounts for the dates and periods indicated. For purposes of the following condensed consolidating information, the Parent Guarantor’s investments in its subsidiaries and the Subsidiary Issuer’s investments in its subsidiaries are accounted for under the equity method of accounting. The December 31, 2018 balance sheet has been updated to conform the prior period presentation to be consistent with the current period presentation. The consolidating financial information for the Parent Guarantor, Subsidiary Issuer and Non-Guarantor Subsidiaries are as follows: September 30, 2019 Parent Guarantor Subsidiary Issuer Non-Guarantor Subsidiaries Eliminations Consolidated Partnership Cash and cash equivalents $ — $ — $ 207 $ — $ 207 Accounts receivable, related parties 4,467 43,654 73,807 (121,704 ) 224 All other current assets — — 6,724 — 6,724 Property, plant and equipment, net — — 68,870 — 68,870 Investments in unconsolidated affiliates 56,270 14,838 3,065 (71,186 ) 2,987 All other assets 3,560 131 12,544 — 16,235 Total assets $ 64,297 $ 58,623 $ 165,217 $ (192,890 ) $ 95,247 Accounts payable, related parties $ 2,725 $ 40,512 $ 76,876 $ (120,090 ) $ 23 Other current liabilities 654 140 6,205 — 6,999 Non-current liabilities 31,260 7,603 13,751 — 52,614 Noncontrolling interests — — 7,974 — 7,974 Total partners’ capital 29,658 10,368 60,411 (72,800 ) 27,637 Total liabilities and equity $ 64,297 $ 58,623 $ 165,217 $ (192,890 ) $ 95,247 December 31, 2018 Parent Guarantor Subsidiary Issuer Non-Guarantor Subsidiaries Eliminations Consolidated Partnership Cash and cash equivalents $ — $ — $ 418 $ — $ 418 Accounts receivable, related parties 4,070 36,889 67,110 (107,893 ) 176 All other current assets — — 6,226 — 6,226 Property, plant and equipment, net — — 66,655 — 66,655 Investments in unconsolidated affiliates 51,876 13,090 2,636 (64,966 ) 2,636 All other assets 12 75 12,244 — 12,331 Total assets $ 55,958 $ 50,054 $ 155,289 $ (172,859 ) $ 88,442 Accounts payable, related parties $ 3,031 $ 33,414 $ 72,055 $ (108,381 ) $ 119 Other current liabilities 399 103 8,676 — 9,178 Non-current liabilities 24,787 7,605 10,132 — 42,524 Noncontrolling interests — — 7,903 — 7,903 Total partners’ capital 27,741 8,932 56,523 (64,478 ) 28,718 Total liabilities and equity $ 55,958 $ 50,054 $ 155,289 $ (172,859 ) $ 88,442 Three Months Ended September 30, 2019 Parent Guarantor Subsidiary Issuer Non-Guarantor Subsidiaries Eliminations Consolidated Partnership Revenues $ — $ — $ 13,495 $ — $ 13,495 Operating costs, expenses, and other — — 11,661 — 11,661 Operating income — — 1,834 — 1,834 Interest expense, net of capitalized interest (412 ) (151 ) (12 ) — (575 ) Equity in earnings of unconsolidated affiliates 1,443 519 82 (1,962 ) 82 Gains on interest rate derivatives (175 ) — — — (175 ) Other, net 93 3 17 — 113 Income before income tax expense 949 371 1,921 (1,962 ) 1,279 Income tax expense — — 55 — 55 Net income 949 371 1,866 (1,962 ) 1,224 Less: Net income attributable to noncontrolling interests — — 261 — 261 Less: Net income attributable to redeemable noncontrolling interests — — 12 — 12 Net income attributable to partners $ 949 $ 371 $ 1,593 $ (1,962 ) $ 951 Other comprehensive loss $ — $ — $ (7 ) $ — $ (7 ) Comprehensive income 949 371 1,859 (1,962 ) 1,217 Less: Comprehensive income attributable to noncontrolling interests — — 261 — 261 Less: Comprehensive income attributable to redeemable noncontrolling interests — — 12 — 12 Comprehensive income attributable to partners $ 949 $ 371 $ 1,586 $ (1,962 ) $ 944 Three Months Ended September 30, 2018 Parent Guarantor Subsidiary Issuer Non-Guarantor Subsidiaries Eliminations Consolidated Partnership Revenues $ — $ — $ 14,514 $ — $ 14,514 Operating costs, expenses, and other — — 12,799 — 12,799 Operating income — — 1,715 — 1,715 Interest expense, net of capitalized interest (303 ) (55 ) (88 ) — (446 ) Equity in earnings of unconsolidated affiliates 1,394 501 87 (1,895 ) 87 Gains on interest rate derivatives 45 — — — 45 Other, net — — 40 — 40 Income from continuing operations before income tax benefit 1,136 446 1,754 (1,895 ) 1,441 Income tax benefit from continuing operations — — (52 ) — (52 ) Income from continuing operations 1,136 446 1,806 (1,895 ) 1,493 Loss from discontinued operations, net of income taxes — — (2 ) — (2 ) Net income 1,136 446 1,804 (1,895 ) 1,491 Less: Net income attributable to noncontrolling interests — — 223 — 223 Less: Net income attributable to predecessor equity — — 133 — 133 Net income attributable to partners $ 1,136 $ 446 $ 1,448 $ (1,895 ) $ 1,135 Other comprehensive income $ — $ — $ 4 $ — $ 4 Comprehensive income 1,136 446 1,808 (1,895 ) 1,495 Less: Comprehensive income attributable to noncontrolling interests — — 223 — 223 Less: Comprehensive income attributable to predecessor equity — — 133 — 133 Comprehensive income attributable to partners $ 1,136 $ 446 $ 1,452 $ (1,895 ) $ 1,139 Nine Months Ended September 30, 2019 Parent Guarantor Subsidiary Issuer Non-Guarantor Subsidiaries Eliminations Consolidated Partnership Revenues $ — $ — $ 40,493 $ — $ 40,493 Operating costs, expenses, and other — — 34,904 — 34,904 Operating income — — 5,589 — 5,589 Interest expense, net of capitalized interest (1,190 ) (280 ) (210 ) — (1,680 ) Equity in earnings of unconsolidated affiliates 4,292 1,638 224 (5,930 ) 224 Losses on extinguishments of debt — — (2 ) — (2 ) Gains on interest rate derivatives (371 ) — — — (371 ) Other, net 233 3 6 — 242 Income before income tax benefit 2,964 1,361 5,607 (5,930 ) 4,002 Income tax expense — — 216 — 216 Net income 2,964 1,361 5,391 (5,930 ) 3,786 Less: Net income attributable to noncontrolling interests — — 783 — 783 Less: Net income attributable to redeemable noncontrolling interests — — 38 — 38 Net income attributable to partners $ 2,964 $ 1,361 $ 4,570 $ (5,930 ) $ 2,965 Other comprehensive income $ — $ — $ 2 $ — $ 2 Comprehensive income 2,964 1,361 5,393 (5,930 ) 3,788 Less: Comprehensive income attributable to noncontrolling interests — — 783 — 783 Less: Comprehensive income attributable to redeemable noncontrolling interests 38 38 Comprehensive income attributable to partners $ 2,964 $ 1,361 $ 4,572 $ (5,930 ) $ 2,967 Nine Months Ended September 30, 2018 Parent Guarantor Subsidiary Issuer Non-Guarantor Subsidiaries Eliminations Consolidated Partnership Revenues $ — $ — $ 40,514 $ — $ 40,514 Operating costs, expenses, and other — — 36,556 — 36,556 Operating income — — 3,958 — 3,958 Interest expense, net of capitalized interest (870 ) (137 ) (239 ) — (1,246 ) Equity in earnings of unconsolidated affiliates 3,036 827 258 (3,863 ) 258 Losses on extinguishments of debt — — (109 ) — (109 ) Gains on interest rate derivatives 117 — — — 117 Other, net — — 96 — 96 Income from continuing operations before income tax expense 2,283 690 3,964 (3,863 ) 3,074 Income tax expense from continuing operations — — 7 — 7 Income from continuing operations 2,283 690 3,957 (3,863 ) 3,067 Loss from discontinued operations, net of income taxes — — (265 ) — (265 ) Net income 2,283 690 3,692 (3,863 ) 2,802 Less: Net income attributable to noncontrolling interests — — 557 — 557 Less: Net loss attributable to predecessor equity (37 ) (37 ) Net income attributable to partners $ 2,283 $ 690 $ 3,172 $ (3,863 ) $ 2,282 Other comprehensive income $ — $ — $ 7 $ — $ 7 Comprehensive income 2,283 690 3,699 (3,863 ) 2,809 Less: Comprehensive income attributable to noncontrolling interests — — 557 — 557 Less: Comprehensive loss attributable to predecessor equity (37 ) (37 ) Comprehensive income attributable to partners $ 2,283 $ 690 $ 3,179 $ (3,863 ) $ 2,289 Nine Months Ended September 30, 2019 Parent Guarantor Subsidiary Issuer Non-Guarantor Subsidiaries Eliminations Consolidated Partnership Cash flows provided by operating activities $ 1,854 $ 2,620 $ 4,613 $ (3,025 ) $ 6,062 Cash flows provided by (used in) investing activities (482 ) (2,620 ) (4,346 ) 3,025 (4,423 ) Cash flows provided by (used in) financing activities (1,372 ) — (478 ) — (1,850 ) Change in cash — — (211 ) — (211 ) Cash at beginning of period — — 418 — 418 Cash at end of period $ — $ — $ 207 $ — $ 207 Nine Months Ended September 30, 2018 Parent Guarantor Subsidiary Issuer Non-Guarantor Subsidiaries Eliminations Consolidated Partnership Cash flows provided by operating activities $ 2,753 $ 579 $ 4,256 $ (2,078 ) $ 5,510 Cash flows used in investing activities (834 ) (579 ) (5,178 ) 2,078 (4,513 ) Cash flows used in financing activities (1,919 ) — (1,754 ) — (3,673 ) Net increase in cash and cash equivalents of discontinued operations 2,738 2,738 Change in cash — — 62 — 62 Cash at beginning of period — — 335 — 335 Cash at end of period $ — $ — $ 397 $ — $ 397 |
Operations And Basis of Prese_2
Operations And Basis of Presentation Accounting Policy (Policies) | 9 Months Ended |
Sep. 30, 2019 | |
Accounting Policies [Abstract] | |
Goodwill and Intangible Assets, Goodwill, Policy [Policy Text Block] | Goodwill The Partnership’s interstate transportation and storage segment owns Southwest Gas which owns and operates natural gas storage assets. Due to a decrease in the demand for storage on these assets, the Partnership performed an interim impairment test on the assets of Southwest Gas during the three months ended September 30, 2019. As a result of the interim impairment test, the Partnership recognized a goodwill impairment of $12 million related to Southwest Gas, primarily due to decreases in projected future revenues and cash flows. No other impairments of the Partnership’s other assets were identified. The Partnership estimated the fair value of Southwest Gas by using the income approach. The income approach is based on the present value of future cash flows, which are derived from our long-term financial forecasts, and requires significant assumptions including, among others, a discount rate and a terminal value. |
Basis of Accounting, Policy [Policy Text Block] | Basis of Presentation The unaudited financial information included in this Form 10-Q has been prepared on the same basis as the audited consolidated financial statements of Energy Transfer Operating, L.P. for the year ended December 31, 2018 , included in the Partnership’s Annual Report on Form 10-K filed with the SEC on February 22, 2019 . In the opinion of the Partnership’s management, such financial information reflects all adjustments necessary for a fair presentation of the financial position and the results of operations for such interim periods in accordance with GAAP. All intercompany items and transactions have been eliminated in consolidation. Certain information and footnote disclosures normally included in annual consolidated financial statements prepared in accordance with GAAP have been omitted pursuant to the rules and regulations of the SEC. The consolidated financial statements of the Partnership presented herein include the results of operations of our controlled subsidiaries, including Sunoco LP and USAC. Certain prior period amounts have also been reclassified to conform to the current period presentation. These reclassifications had no impact on net income or total equity. |
Use of Estimates, Policy [Policy Text Block] | Use of Estimates The unaudited consolidated financial statements have been prepared in conformity with GAAP, which includes the use of estimates and assumptions made by management that affect the reported amounts of assets, liabilities, revenues, expenses and disclosure of contingent assets and liabilities that exist at the date of the consolidated financial statements. Although these estimates are based on management’s available knowledge of current and expected future events, actual results could be different from those estimates. |
Cash And Cash Equivalents Cash
Cash And Cash Equivalents Cash and Cash Equivalents (Policies) | 9 Months Ended |
Sep. 30, 2019 | |
Cash and Cash Equivalents [Abstract] | |
Cash and Cash Equivalents, Unrestricted Cash and Cash Equivalents, Policy [Policy Text Block] | Cash and cash equivalents include all cash on hand, demand deposits, and investments with original maturities of three months or less. We consider cash equivalents to include short-term, highly liquid investments that are readily convertible to known amounts of cash and that are subject to an insignificant risk of changes in value. The Partnership’s balance sheets did not include any material amounts of restricted cash as of September 30, 2019 or December 31, 2018 . We place our cash deposits and temporary cash investments with high credit quality financial institutions. At times, our cash and cash equivalents may be uninsured or in deposit accounts that exceed the Federal Deposit Insurance Corporation insurance limit. |
Inventories Inventories (Polici
Inventories Inventories (Policies) | 9 Months Ended |
Sep. 30, 2019 | |
Inventory Disclosure [Abstract] | |
Inventory, Policy [Policy Text Block] | We utilize commodity derivatives to manage price volatility associated with our natural gas inventory. Changes in fair value of designated hedged inventory are recorded in inventory on our consolidated balance sheets and cost of products sold in our consolidated statements of operations. |
Fair Value Measurements Fair Va
Fair Value Measurements Fair Value Measurements (Policies) | 9 Months Ended |
Sep. 30, 2019 | |
Fair Value Disclosures [Abstract] | |
Fair Value Measurement, Policy [Policy Text Block] | Based on the estimated borrowing rates currently available to us and our subsidiaries for loans with similar terms and average maturities, the aggregate fair value and carrying amount of our consolidated debt obligations as of September 30, 2019 was $50.66 billion and $46.73 billion , respectively. As of December 31, 2018 , the aggregate fair value and carrying amount of our consolidated debt obligations was $39.54 billion and $40.51 billion , respectively. The fair value of our consolidated debt obligations is a Level 2 valuation based on the observable inputs used for similar liabilities. We have commodity derivatives and interest rate derivatives that are accounted for as assets and liabilities at fair value in our consolidated balance sheets. We determine the fair value of our assets and liabilities subject to fair value measurement by using the highest possible “level” of inputs. Level 1 inputs are observable quotes in an active market for identical assets and liabilities. We consider the valuation of marketable securities and commodity derivatives transacted through a clearing broker with a published price from the appropriate exchange as a Level 1 valuation. Level 2 inputs are inputs observable for similar assets and liabilities. We consider OTC commodity derivatives entered into directly with third parties as a Level 2 valuation since the values of these derivatives are quoted on an exchange for similar transactions. Additionally, we consider our options transacted through our clearing broker as having Level 2 inputs due to the level of activity of these contracts on the exchange in which they trade. We consider the valuation of our interest rate derivatives as Level 2 as the primary input, the LIBOR curve, is based on quotes from an active exchange of Eurodollar futures for the same period as the future interest swap settlements. Level 3 inputs are unobservable. During the nine months ended September 30, 2019 , no transfers were made between any levels within the fair value hierarchy. |
Income Taxes Income Taxes (Poli
Income Taxes Income Taxes (Policies) | 9 Months Ended |
Sep. 30, 2019 | |
Income Tax Disclosure [Abstract] | |
Income Tax, Policy [Policy Text Block] | The Partnership’s effective tax rate differs from the statutory rate primarily due to partnership earnings that are not subject to United States federal and most state income taxes at the partnership level. |
Revenue (Policies)
Revenue (Policies) | 9 Months Ended |
Sep. 30, 2019 | |
Revenue [Abstract] | |
Revenue Recognition, Deferred Revenue [Policy Text Block] | Performance Obligations At contract inception, the Partnership assesses the goods and services promised in its contracts with customers and identifies a performance obligation for each promise to transfer a good or service (or bundle of goods or services) that is distinct. To identify the performance obligations, the Partnership considers all the goods or services promised in the contract, whether explicitly stated or implied based on customary business practices. For a contract that has more than one performance obligation, the Partnership allocates the total expected contract consideration to each distinct performance obligation based on a standalone-selling price basis. Revenue is recognized when (or as) the performance obligations are satisfied, that is, when the customer obtains control of the good or service. Certain of our contracts contain variable components, which, when combined with the fixed component are considered a single performance obligation. For these types of contacts, only the fixed component of the contracts are included in the table below. |
Revenue from Contract with Customer [Policy Text Block] | Contract Balances with Customers The Partnership satisfies its obligations by transferring goods or services in exchange for consideration from customers. The timing of performance may differ from the timing the associated consideration is paid to or received from the customer, thus resulting in the recognition of a contract asset or a contract liability. The Partnership recognizes a contract asset when making upfront consideration payments to certain customers or when providing services to customers prior to the time at which the Partnership is contractually allowed to bill for such services. The Partnership recognizes a contract liability if the customer's payment of consideration precedes the Partnership’s fulfillment of the performance obligations. Certain contracts contain provisions requiring customers to pay a fixed fee for a right to use our assets, but allows customers to apply such fees against services to be provided at a future point in time. These amounts are reflected as prepayments or deferred revenue until the customer applies the deficiency fees to services provided or becomes unable to use the fees as payment for future services due to expiration of the contractual period the fees can be applied or physical inability of the customer to utilize the fees due to capacity constraints. Additionally, Sunoco LP maintains some franchise agreements requiring dealers to make one-time upfront payments for long term license agreements. Sunoco LP recognizes a contract liability when the upfront payment is received and recognizes revenue over the term of the license. |
Revenue [Policy Text Block] | Disaggregation of Revenue The Partnership’s consolidated financial statements reflect eight reportable segments, which also represent the level at which the Partnership aggregates revenue for disclosure purposes. Note 15 depicts the disaggregation of revenue by segment. |
Contract with Customer, Asset and Liability [Table Text Block] | The balances of Sunoco LP’s contract assets as of September 30, 2019 and December 31, 2018 were as follows: September 30, 2019 December 31, 2018 Contract asset balances: Contract asset $ 102 $ 75 Accounts receivable from contracts with customers 403 348 Contract Balances with Customers The Partnership satisfies its obligations by transferring goods or services in exchange for consideration from customers. The timing of performance may differ from the timing the associated consideration is paid to or received from the customer, thus resulting in the recognition of a contract asset or a contract liability. The Partnership recognizes a contract asset when making upfront consideration payments to certain customers or when providing services to customers prior to the time at which the Partnership is contractually allowed to bill for such services. The Partnership recognizes a contract liability if the customer's payment of consideration precedes the Partnership’s fulfillment of the performance obligations. Certain contracts contain provisions requiring customers to pay a fixed fee for a right to use our assets, but allows customers to apply such fees against services to be provided at a future point in time. These amounts are reflected as prepayments or deferred revenue until the customer applies the deficiency fees to services provided or becomes unable to use the fees as payment for future services due to expiration of the contractual period the fees can be applied or physical inability of the customer to utilize the fees due to capacity constraints. Additionally, Sunoco LP maintains some franchise agreements requiring dealers to make one-time upfront payments for long term license agreements. Sunoco LP recognizes a contract liability when the upfront payment is received and recognizes revenue over the term of the license. The following table summarizes the consolidated activity of our contract liabilities: Contract Liabilities Balance, December 31, 2018 $ 392 Additions 448 Revenue recognized (491 ) Balance, September 30, 2019 $ 349 Balance, January 1, 2018 $ 205 Additions 409 Revenue recognized (211 ) Balance, September 30, 2018 $ 403 The balances of receivables from contracts with customers listed in the table below, all of which are attributable to Sunoco LP, include both current trade receivables and long-term receivables, net of allowance for doubtful accounts. The allowance for receivables represents Sunoco LP’s best estimate of the probable losses associated with potential customer defaults. Sunoco LP determines the allowance based on historical experience and on a specific identification basis. |
Lease Accounting (Policies)
Lease Accounting (Policies) | 9 Months Ended |
Sep. 30, 2019 | |
Leases [Abstract] | |
Lessee, Leases [Policy Text Block] | Change in Accounting Policy Adoption of Lease Accounting Standard In February 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2016-02, Leases (Topic 842) , which has amended the FASB Accounting Standards Codification (“ASC”) and introduced Topic 842, Leases. On January 1, 2019, the Partnership has adopted ASC Topic 842 (“Topic 842”), which is effective for interim and annual reporting periods beginning on or after December 15, 2018. Topic 842 requires entities to recognize lease assets and liabilities on the balance sheet for all leases with a term of more than one year, including operating leases, which historically were not recorded on the balance sheet in accordance with the prior standard. To adopt Topic 842, the Partnership recognized a cumulative catch-up adjustment to the opening balance sheet as of January 1, 2019 related to certain leases that existed as of that date. As permitted, we have not retrospectively modified our consolidated financial statements for comparative purposes. The adoption of the standard had a material impact on our consolidated balance sheet, but did not have an impact on our consolidated statements of operations, comprehensive income or cash flows. As a result of adoption, we have recorded additional net right-of-use (“ROU”) lease assets and lease liabilities of approximately $888 million and $888 million , respectively, as of January 1, 2019. In addition, we have updated our business processes, systems, and internal controls to support the on-going reporting requirements under the new standard. To adopt Topic 842, the Partnership elected the package of practical expedients permitted under the transition guidance within the standard. The expedient package allowed us not to reassess whether existing contracts contained a lease, the lease classification of existing leases and initial direct cost for existing leases. In addition to the package of practical expedients, the Partnership has elected not to capitalize amounts pertaining to leases with terms less than twelve months, to use the portfolio approach to determine discount rates, not to separate non-lease components from lease components and not to apply the use of hindsight to the active lease population. Lessee Accounting The Partnership leases terminal facilities, tank cars, office space, land and equipment under non-cancelable operating leases whose initial terms are typically five to 15 years, with some real estate leases having terms of 40 years or more, along with options that permit renewals for additional periods. At the inception of each, we determine if the arrangement is a lease or contains an embedded lease and review the facts and circumstances of the arrangement to classify lease assets as operating or finance leases under Topic 842. The Partnership has elected not to record any leases with terms of 12 months or less on the balance sheet. At present, the majority of the Partnership’s active leases are classified as operating in accordance with Topic 842. Balances related to operating leases are included in operating lease ROU assets, accrued and other current liabilities, operating lease current liabilities and non-current operating lease liabilities in our consolidated balance sheets. Finance leases represent a small portion of the active lease agreements and are included in finance lease ROU assets, current maturities of long-term debt and long-term debt, less current maturities in our consolidated balance sheets. The ROU assets represent the Partnership’s right to use an underlying asset for the lease term and lease liabilities represent the obligation of the Partnership to make minimum lease payments arising from the lease for the duration of the lease term. Most leases include one or more options to renew, with renewal terms that can extend the lease term from one to 20 years or greater. The exercise of lease renewal options is typically at the sole discretion of the Partnership, and lease extensions are evaluated on a lease-by-lease basis. Leases containing early termination clauses typically require the agreement of both parties to the lease. At the inception of a lease, all renewal options reasonably certain to be exercised are considered when determining the lease term. Presently, the Partnership does not have leases that include options to purchase or automatic transfer of ownership of the leased property to the Partnership. The depreciable life of lease assets and leasehold improvements are limited by the expected lease term. To determine the present value of future minimum lease payments, we use the implicit rate when readily determinable. Presently, because many of our leases do not provide an implicit rate, the Partnership applies its incremental borrowing rate based on the information available at the lease commencement date to determine the present value of minimum lease payments. The operating and finance lease ROU assets include any lease payments made and exclude lease incentives. Minimum rent payments are expensed on a straight-line basis over the term of the lease. In addition, some leases require additional contingent or variable lease payments, which are based on the factors specific to the individual agreement. Variable lease payments the Partnership is typically responsible for include payment of real estate taxes, maintenance expenses and insurance. For short-term leases (leases that have term of twelve months or less upon commencement), lease payments are recognized on a straight-line basis and no ROU assets are recorded. |
Lessor, Leases [Policy Text Block] | Lessor Accounting Sunoco LP leases or subleases a portion of its real estate portfolio to third-party companies as a stable source of long-term revenue. Sunoco LP’s lessor and sublease portfolio consists mainly of operating leases with convenience store operators. At this time, most lessor agreements contain five -year terms with renewal options to extend and early termination options based on established terms specific to the individual agreement. Rental income included in other revenue in our consolidated statement of operations for the three and nine months ended September 30, 2019 was $39 million and $111 million |
Derivative Assets And Liabili_2
Derivative Assets And Liabilities Derivative Assets and Liabilities (Policies) | 9 Months Ended |
Sep. 30, 2019 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
Concentration Risk, Credit Risk, Policy [Policy Text Block] | Credit Risk Credit risk refers to the risk that a counterparty may default on its contractual obligations resulting in a loss to the Partnership. Credit policies have been approved and implemented to govern the Partnership’s portfolio of counterparties with the objective of mitigating credit losses. These policies establish guidelines, controls and limits to manage credit risk within approved tolerances by mandating an appropriate evaluation of the financial condition of existing and potential counterparties, monitoring agency credit ratings, and by implementing credit practices that limit exposure according to the risk profiles of the counterparties. Furthermore, the Partnership may, at times, require collateral under certain circumstances to mitigate credit risk as necessary. The Partnership also uses industry standard commercial agreements which allow for the netting of exposures associated with transactions executed under a single commercial agreement. Additionally, we utilize master netting agreements to offset credit exposure across multiple commercial agreements with a single counterparty or affiliated group of counterparties. The Partnership’s counterparties consist of a diverse portfolio of customers across the energy industry, including petrochemical companies, commercial and industrial end-users, oil and gas producers, municipalities, gas and electric utilities, midstream companies and independent power generators. Our overall exposure may be affected positively or negatively by macroeconomic or regulatory changes that impact our counterparties to one extent or another. Currently, management does not anticipate a material adverse effect in our financial position or results of operations as a consequence of counterparty non-performance. The Partnership has maintenance margin deposits with certain counterparties in the OTC market, primarily with independent system operators and with clearing brokers. Payments on margin deposits are required when the value of a derivative exceeds our pre-established credit limit with the counterparty. Margin deposits are returned to us on or about the settlement date for non-exchange traded derivatives, and we exchange margin calls on a daily basis for exchange traded transactions. Since the margin calls are made daily with the exchange brokers, the fair value of the financial derivative instruments are deemed current and netted in deposits paid to vendors within other current assets in the consolidated balance sheets. For financial instruments, failure of a counterparty to perform on a contract could result in our inability to realize amounts that have been recorded on our consolidated balance sheets and recognized in net income or other comprehensive income. |
Derivatives, Policy [Policy Text Block] | Commodity Price Risk We are exposed to market risks related to the volatility of commodity prices. To manage the impact of volatility from these prices, we utilize various exchange-traded and OTC commodity financial instrument contracts. These contracts consist primarily of futures, swaps and options and are recorded at fair value in our consolidated balance sheets. We use futures and basis swaps, designated as fair value hedges, to hedge our natural gas inventory stored in our Bammel storage facility. At hedge inception, we lock in a margin by purchasing gas in the spot market or off peak season and entering into a financial contract. Changes in the spreads between the forward natural gas prices and the physical inventory spot price result in unrealized gains or losses until the underlying physical gas is withdrawn and the related designated derivatives are settled. Once the gas is withdrawn and the designated derivatives are settled, the previously unrealized gains or losses associated with these positions are realized. We use futures, swaps and options to hedge the sales price of natural gas we retain for fees in our intrastate transportation and storage segment and operational gas sales in our interstate transportation and storage segment. These contracts are not designated as hedges for accounting purposes. We use NGL and crude derivative swap contracts to hedge forecasted sales of NGL and condensate equity volumes we retain for fees in our midstream segment whereby our subsidiaries generally gather and process natural gas on behalf of producers, sell the resulting residue gas and NGL volumes at market prices and remit to producers an agreed upon percentage of the proceeds based on an index price for the residue gas and NGL. These contracts are not designated as hedges for accounting purposes. We utilize swaps, futures and other derivative instruments to mitigate the risk associated with market movements in the price of refined products and NGLs to manage our storage facilities and the purchase and sale of purity NGL. These contracts are not designated as hedges for accounting purposes. We use futures and swaps to achieve ratable pricing of crude oil purchases, to convert certain expected refined product sales to fixed or floating prices, to lock in margins for certain refined products and to lock in the price of a portion of natural gas purchases or sales. These contracts are not designated as hedges for accounting purposes. We use financial commodity derivatives to take advantage of market opportunities in our trading activities which complement our transportation and storage segment’s operations and are netted in cost of products sold in our consolidated statements of operations. We also have trading and marketing activities related to power and natural gas in our all other segment which are also netted in cost of products sold. As a result of our trading activities and the use of derivative financial instruments in our transportation and storage segment, the degree of earnings volatility that can occur may be significant, favorably or unfavorably, from period to period. We attempt to manage this volatility through the use of daily position and profit and loss reports provided to our risk oversight committee, which includes members of senior management, and the limits and authorizations set forth in our commodity risk management policy. We disclose the non-exchange traded financial derivative instruments as derivative assets and liabilities on our consolidated balance sheets at fair value with amounts classified as either current or non-current depending on the anticipated settlement date. |
Operations And Basis of Prese_3
Operations And Basis of Presentation Operations and Basis of Presentation (Tables) | 9 Months Ended |
Sep. 30, 2019 | |
Operations and Basis of Presentation [Abstract] | |
Schedule of New Accounting Pronouncements and Changes in Accounting Principles [Table Text Block] | Cumulative-effect adjustments made to the opening balance sheet at January 1, 2019 were as follows: Balance at December 31, 2018, as previously reported Adjustments due to Topic 842 (Leases) Balance at January 1, 2019 Assets: Property, plant and equipment, net $ 66,655 $ (1 ) $ 66,654 Lease right-of-use assets, net — 889 889 Liabilities: Operating lease current liabilities $ — $ 71 $ 71 Accrued and other current liabilities 2,847 (1 ) 2,846 Current maturities of long-term debt 2,655 1 2,656 Long-term debt, less current maturities 37,853 6 37,859 Non-current operating lease liabilities — 823 823 Other non-current liabilities 1,184 (12 ) 1,172 Additional disclosures related to lease accounting are included in Note 12 . |
Acquisitions and Other Transa_2
Acquisitions and Other Transactions Dropdown Transaction (Tables) | 9 Months Ended |
Sep. 30, 2019 | |
Dropdown Transaction [Abstract] | |
Disposal Groups, Including Discontinued Operations [Table Text Block] | There were no results of operations associated with discontinued operations for the three and nine months ended September 30, 2019 . The results of operations associated with discontinued operations for the three and nine months ended ended September 30, 2018 were as follows: Three Months Ended September 30, 2018 Nine Months Ended September 30, 2018 REVENUES $ — $ 349 COSTS AND EXPENSES Cost of products sold — 305 Operating expenses — 61 Selling, general and administrative — 7 Total costs and expenses — 373 OPERATING LOSS — (24 ) Interest expense, net — (2 ) Loss on extinguishment of debt and other — (20 ) Other, net — (61 ) LOSS FROM DISCONTINUED OPERATIONS BEFORE INCOME TAX EXPENSE — (107 ) Income tax expense 2 158 LOSS FROM DISCONTINUED OPERATIONS, NET OF INCOME TAXES $ (2 ) $ (265 ) |
Cash And Cash Equivalents (Tabl
Cash And Cash Equivalents (Tables) | 9 Months Ended |
Sep. 30, 2019 | |
Cash and Cash Equivalents [Abstract] | |
Net Cash Provided By Operating Activities | The net change in operating assets and liabilities (net of effects of acquisitions) included in cash flows from operating activities is comprised as follows: Nine Months Ended 2019 2018 Accounts receivable $ (353 ) $ 152 Accounts receivable from related companies (30 ) 261 Inventories (66 ) 78 Other current assets (14 ) (19 ) Other non-current assets, net (182 ) (154 ) Accounts payable 27 (232 ) Accounts payable to related companies (105 ) (227 ) Accrued and other current liabilities 194 406 Other non-current liabilities (103 ) 25 Derivative assets and liabilities, net 307 68 Net change in operating assets and liabilities, net of effects of acquisitions $ (325 ) $ 358 |
Schedule of Cash Flow, Supplemental Disclosures [Table Text Block] | Non-cash activities are as follows: Nine Months Ended 2019 2018 NON-CASH INVESTING AND FINANCING ACTIVITIES: Accrued capital expenditures $ 1,202 $ 1,059 Lease assets obtained in exchange for new lease liabilities 73 — Losses from subsidiary common unit transactions — (125 ) |
Inventories (Tables)
Inventories (Tables) | 9 Months Ended |
Sep. 30, 2019 | |
Inventory, Gross [Abstract] | |
Schedule Of Inventories | Inventories consisted of the following: September 30, 2019 December 31, 2018 Natural gas, NGLs and refined products $ 900 $ 833 Crude oil 510 506 Spare parts and other 404 338 Total inventories $ 1,814 $ 1,677 |
Fair Value Measurements (Tables
Fair Value Measurements (Tables) | 9 Months Ended |
Sep. 30, 2019 | |
Fair Value Measurements [Abstract] | |
Fair Value Of Assets And Liabilities Measured And Recorded On Recurring Basis | The following tables summarize the gross fair value of our financial assets and liabilities measured and recorded at fair value on a recurring basis as of September 30, 2019 and December 31, 2018 based on inputs used to derive their fair values: Fair Value Measurements at Fair Value Total Level 1 Level 2 Assets: Commodity derivatives: Natural Gas: Basis Swaps IFERC/NYMEX $ 27 $ 27 $ — Swing Swaps IFERC 5 — 5 Fixed Swaps/Futures 44 44 — Forward Physical Contracts 5 — 5 Power: Forwards 21 — 21 Futures 4 4 — NGLs – Forwards/Swaps 529 529 — Refined Products – Futures 1 1 — Crude – Forwards/Swaps 43 43 — Total commodity derivatives 679 648 31 Other non-current assets 29 19 10 Total assets $ 708 $ 667 $ 41 Liabilities: Interest rate derivatives $ (528 ) $ — $ (528 ) Commodity derivatives: Natural Gas: Basis Swaps IFERC/NYMEX (54 ) (54 ) — Swing Swaps IFERC (9 ) — (9 ) Fixed Swaps/Futures (29 ) (29 ) — Forward Physical Contracts (2 ) — (2 ) Power: Forwards (14 ) — (14 ) Futures (5 ) (5 ) — Options – Calls (1 ) (1 ) — NGLs – Forwards/Swaps (479 ) (479 ) — Refined Products – Futures (3 ) (3 ) — Crude – Forwards/Swaps (1 ) (1 ) — Total commodity derivatives (597 ) (572 ) (25 ) Total liabilities $ (1,125 ) $ (572 ) $ (553 ) Fair Value Measurements at Fair Value Total Level 1 Level 2 Assets: Commodity derivatives: Natural Gas: Basis Swaps IFERC/NYMEX $ 42 $ 42 $ — Swing Swaps IFERC 52 8 44 Fixed Swaps/Futures 97 97 — Forward Physical Contracts 20 — 20 Power: Forwards 48 — 48 Futures 1 1 — Options – Calls 1 1 — NGLs – Forwards/Swaps 291 291 — Refined Products – Futures 7 7 — Crude – Forwards/Swaps 1 1 — Total commodity derivatives 560 448 112 Other non-current assets 26 17 9 Total assets $ 586 $ 465 $ 121 Liabilities: Interest rate derivatives $ (163 ) $ — $ (163 ) Commodity derivatives: Natural Gas: Basis Swaps IFERC/NYMEX (91 ) (91 ) — Swing Swaps IFERC (40 ) — (40 ) Fixed Swaps/Futures (88 ) (88 ) — Forward Physical Contracts (21 ) — (21 ) Power: Forwards (42 ) — (42 ) Futures (1 ) (1 ) — NGLs – Forwards/Swaps (224 ) (224 ) — Refined Products – Futures (15 ) (15 ) — Crude – Forwards/Swaps (61 ) (61 ) — Total commodity derivatives (583 ) (480 ) (103 ) Total liabilities $ (746 ) $ (480 ) $ (266 ) |
Equity (Tables)
Equity (Tables) | 9 Months Ended |
Sep. 30, 2019 | |
Accumulated Other Comprehensive Income | Accumulated Other Comprehensive Income (Loss) The following table presents the components of AOCI, net of tax: September 30, 2019 December 31, 2018 Available-for-sale securities $ 10 $ 2 Foreign currency translation adjustment (5 ) (5 ) Actuarial loss related to pensions and other postretirement benefits (41 ) (48 ) Investments in unconsolidated affiliates, net (4 ) 9 Total AOCI, net of tax $ (40 ) $ (42 ) |
ETO [Member] | |
Schedule of Preferred Units [Table Text Block] | Preferred Units As of September 30, 2019 and December 31, 2018 , our outstanding preferred units included 950,000 Series A Preferred Units, 550,000 Series B Preferred Units, 18,000,000 Series C Preferred Units and 17,800,000 Series D Preferred Units. As of September 30, 2019 , our outstanding preferred units also included 32,000,000 Series E Preferred Units. The following table summarizes changes in the amounts of our Series A, Series B, Series C, Series D and Series E preferred units for the nine months ended September 30, 2019 : Preferred Unitholders Series A Series B Series C Series D Series E Total Balance, December 31, 2018 $ 958 $ 556 $ 440 $ 434 $ — $ 2,388 Distributions to partners (30 ) (18 ) (8 ) (8 ) — (64 ) Net income 15 9 8 8 — 40 Balance, March 31, 2019 943 547 440 434 — 2,364 Distributions to partners — — (9 ) (9 ) — (18 ) Units issued for cash — — — — 780 780 Other, net — — — — (1 ) (1 ) Net income 15 9 9 9 11 53 Balance, June 30, 2019 958 556 440 434 790 3,178 Distributions to partners (29 ) (18 ) (8 ) (8 ) (19 ) (82 ) Net income 15 9 8 8 15 55 Balance, September 30, 2019 $ 944 $ 547 $ 440 $ 434 $ 786 $ 3,151 The following table summarizes changes in the amounts of our Series A, Series B, Series C and Series D preferred units for the nine months ended September 30, 2018 : Preferred Unitholders Series A Series B Series C Series D Total Balance, December 31, 2017 $ 944 $ 547 $ — $ — $ 1,491 Distributions to partners (15 ) (9 ) — — (24 ) Other, net (1 ) (1 ) — — (2 ) Net income 15 9 — — 24 Balance, March 31, 2018 943 546 — — 1,489 Units issued for cash — — 436 — 436 Other, net — 1 — — 1 Net income 15 9 6 — 30 Balance, June 30, 2018 958 556 442 — 1,956 Distributions to partners (29 ) (18 ) (10 ) — (57 ) Units issued for cash — — — 431 431 Other, net — — (1 ) (1 ) (2 ) Net income 15 9 8 6 38 Balance, September 30, 2018 $ 944 $ 547 $ 439 $ 436 $ 2,366 Distributions on ETO’s preferred units declared and/or paid by the Partnership subsequent to December 31, 2018 were as follows: Period Ended Record Date Payment Date Series A (1) Series B (1) Series C Series D Series E (2) December 31, 2018 February 1, 2019 February 15, 2019 $ 31.25 $ 33.125 $ 0.4609 $ 0.4766 $ — March 31, 2019 May 1, 2019 May 15, 2019 — — 0.4609 0.4766 — June 30, 2019 August 1, 2019 August 15, 2019 31.25 33.125 0.4609 0.4766 0.5806 September 30, 2019 November 1, 2019 November 15, 2019 — — 0.4609 0.4766 0.4750 (1) Series A Preferred Unit and Series B Preferred Unit distributions are paid on a semi-annual basis. (2) Series E Preferred Unit distributions related to the period ended June 30, 2019 represent a prorated initial distribution. |
Traverse | |
Distributions Made to Limited Partner, by Distribution [Table Text Block] | Sunoco LP Cash Distributions Distributions declared and/or paid by Sunoco LP subsequent to December 31, 2018 were as follows: Quarter Ended Record Date Payment Date Rate December 31, 2018 February 6, 2019 February 14, 2019 $ 0.8255 March 31, 2019 May 7, 2019 May 15, 2019 0.8255 June 30, 2019 August 6, 2019 August 14, 2019 0.8255 September 30, 2019 November 5, 2019 November 19, 2019 0.8255 |
USA Compression Partners, LP [Member] | |
Distributions Made to Limited Partner, by Distribution [Table Text Block] | USAC Cash Distributions Distributions declared and/or paid by USAC subsequent to December 31, 2018 were as follows: Quarter Ended Record Date Payment Date Rate December 31, 2018 January 28, 2019 February 8, 2019 $ 0.5250 March 31, 2019 April 29, 2019 May 10, 2019 0.5250 June 30, 2019 July 29, 2019 August 9, 2019 0.5250 September 30, 2019 October 28, 2019 November 8, 2019 0.5250 |
Regulatory Matters, Commitmen_2
Regulatory Matters, Commitments, Contingencies And Environmental Liabilities (Tables) | 9 Months Ended |
Sep. 30, 2019 | |
Environmental Exit Costs by Cost [Table Text Block] | The table below reflects the amounts of accrued liabilities recorded in our consolidated balance sheets related to environmental matters that are considered to be probable and reasonably estimable. Currently, we are not able to estimate possible losses or a range of possible losses in excess of amounts accrued. Except for matters discussed above, we do not have any material environmental matters assessed as reasonably possible that would require disclosure in our consolidated financial statements. September 30, 2019 December 31, 2018 Current $ 46 $ 42 Non-current 276 295 Total environmental liabilities $ 322 $ 337 |
Right Of Way [Member] | |
Schedule of Rent Expense [Table Text Block] | We have certain non-cancelable rights-of-way (“ROW”) commitments, which require fixed payments and either expire upon our chosen abandonment or at various dates in the future. The table below reflects ROW expense included in operating expenses in the accompanying statements of operations: Three Months Ended Nine Months Ended 2019 2018 2019 2018 ROW expense $ 5 $ 5 $ 17 $ 18 |
Revenue (Tables)
Revenue (Tables) | 9 Months Ended |
Sep. 30, 2019 | |
Revenue [Abstract] | |
Contract with Customer, Asset and Liability [Table Text Block] | The balances of Sunoco LP’s contract assets as of September 30, 2019 and December 31, 2018 were as follows: September 30, 2019 December 31, 2018 Contract asset balances: Contract asset $ 102 $ 75 Accounts receivable from contracts with customers 403 348 Contract Balances with Customers The Partnership satisfies its obligations by transferring goods or services in exchange for consideration from customers. The timing of performance may differ from the timing the associated consideration is paid to or received from the customer, thus resulting in the recognition of a contract asset or a contract liability. The Partnership recognizes a contract asset when making upfront consideration payments to certain customers or when providing services to customers prior to the time at which the Partnership is contractually allowed to bill for such services. The Partnership recognizes a contract liability if the customer's payment of consideration precedes the Partnership’s fulfillment of the performance obligations. Certain contracts contain provisions requiring customers to pay a fixed fee for a right to use our assets, but allows customers to apply such fees against services to be provided at a future point in time. These amounts are reflected as prepayments or deferred revenue until the customer applies the deficiency fees to services provided or becomes unable to use the fees as payment for future services due to expiration of the contractual period the fees can be applied or physical inability of the customer to utilize the fees due to capacity constraints. Additionally, Sunoco LP maintains some franchise agreements requiring dealers to make one-time upfront payments for long term license agreements. Sunoco LP recognizes a contract liability when the upfront payment is received and recognizes revenue over the term of the license. The following table summarizes the consolidated activity of our contract liabilities: Contract Liabilities Balance, December 31, 2018 $ 392 Additions 448 Revenue recognized (491 ) Balance, September 30, 2019 $ 349 Balance, January 1, 2018 $ 205 Additions 409 Revenue recognized (211 ) Balance, September 30, 2018 $ 403 The balances of receivables from contracts with customers listed in the table below, all of which are attributable to Sunoco LP, include both current trade receivables and long-term receivables, net of allowance for doubtful accounts. The allowance for receivables represents Sunoco LP’s best estimate of the probable losses associated with potential customer defaults. Sunoco LP determines the allowance based on historical experience and on a specific identification basis. |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Table Text Block] | As of September 30, 2019 , the aggregate amount of transaction price allocated to unsatisfied (or partially satisfied) performance obligations is $41.13 billion , and the Partnership expects to recognize this amount as revenue within the time bands illustrated below: Years Ending December 31, 2019 (remainder) 2020 2021 Thereafter Total Revenue expected to be recognized on contracts with customers existing as of September 30, 2019 $ 1,716 $ 5,544 $ 4,812 $ 29,062 $ 41,134 |
Lease Accounting (Tables)
Lease Accounting (Tables) | 9 Months Ended |
Sep. 30, 2019 | |
Leases [Abstract] | |
Schedule of Property Subject to or Available for Operating Lease [Table Text Block] | The components of operating and finance lease amounts recognized in the accompanying consolidated balance sheet as of September 30, 2019 were as follows: September 30, 2019 Operating leases: Lease right-of-use assets, net $ 850 Operating lease current liabilities 57 Accrued and other current liabilities 1 Non-current operating lease liabilities 807 Finance leases: Property, plant and equipment, net $ 2 Lease right-of-use assets, net 39 Accrued and other current liabilities 1 Current maturities of long-term debt 7 Long-term debt, less current maturities 35 Other non-current liabilities 2 |
Lease, Cost [Table Text Block] | The components of lease expense for the three and nine months ended September 30, 2019 were as follows: Income Statement Location Three Months Ended September 30, 2019 Nine Months Ended September 30, 2019 Operating lease costs: Operating lease cost Cost of goods sold $ 7 $ 23 Operating lease cost Operating expenses 18 54 Operating lease cost Selling, general and administrative 3 10 Total operating lease costs 28 87 Finance lease costs: Amortization of lease assets Depreciation, depletion and amortization 2 4 Interest on lease liabilities Interest expense, net of capitalized interest 1 1 Total finance lease costs 3 5 Short-term lease cost Operating expenses 10 33 Variable lease cost Operating expenses 3 11 Lease costs, gross 44 136 Less: Sublease income Other revenue 14 37 Lease costs, net $ 30 $ 99 |
Lessee, Operating Lease, Liability, Maturity [Table Text Block] | Maturities of lease liabilities as of September 30, 2019 are as follows: Operating Leases Finance Leases Total 2019 (remainder) $ 27 $ 2 $ 29 2020 96 10 106 2021 87 10 97 2022 75 10 85 2023 70 9 79 Thereafter 1,170 10 1,180 Total lease payments 1,525 51 1,576 Less: present value discount 660 6 666 Present value of lease liabilities $ 865 $ 45 $ 910 The weighted average remaining lease terms and weighted average discount rates as of September 30, 2019 were as follows: September 30, 2019 Weighted-average remaining lease term (years): Operating leases 22 Finance leases 6 Weighted-average discount rate (%): Operating leases 5 % Finance leases 5 % |
Schedule of additional lease information [Table Text Block] | Cash flows and non-cash activity related to leases for the nine months ended September 30, 2019 were as follows: Nine Months Ended September 30, 2019 Operating cash flows from operating leases $ (78 ) Lease assets obtained in exchange for new finance lease liabilities 37 Lease assets obtained in exchange for new operating lease liabilities 36 |
Lessor, Operating Lease, Payments to be Received, Maturity [Table Text Block] | Future minimum operating lease payments receivable as of September 30, 2019 are as follows: Lease Receivables 2019 (remainder) $ 25 2020 85 2021 69 2022 56 2023 4 Thereafter 7 Total undiscounted cash flows $ 246 |
Derivative Assets And Liabili_3
Derivative Assets And Liabilities (Tables) | 9 Months Ended |
Sep. 30, 2019 | |
General Discussion of Derivative Instruments and Hedging Activities [Abstract] | |
Outstanding Commodity-Related Derivatives | The following table details our outstanding commodity-related derivatives: September 30, 2019 December 31, 2018 Notional Volume Maturity Notional Volume Maturity Mark-to-Market Derivatives (Trading) Natural Gas (BBtu): Basis Swaps IFERC/NYMEX (1) 20,563 2019-2024 16,845 2019-2020 Fixed Swaps/Futures 1,723 2019-2020 468 2019 Options – Puts — — 10,000 2019 Power (Megawatt): Forwards 2,847,350 2019-2029 3,141,520 2019 Futures 222,440 2019-2020 56,656 2019-2021 Options – Puts 515,317 2019-2020 18,400 2019 Options – Calls (756,153 ) 2019-2021 284,800 2019 (Non-Trading) Natural Gas (BBtu): Basis Swaps IFERC/NYMEX (23,653 ) 2019-2022 (30,228 ) 2019-2021 Swing Swaps IFERC 22,365 2019-2020 54,158 2019-2020 Fixed Swaps/Futures 2,323 2019-2021 (1,068 ) 2019-2021 Forward Physical Contracts (29,492 ) 2019-2021 (123,254 ) 2019-2020 NGLs (MBbls) – Forwards/Swaps (9,687 ) 2019-2021 (2,135 ) 2019 Refined Products (MBbls) – Futures (906 ) 2019-2021 (1,403 ) 2019 Crude (MBbls) – Forwards/Swaps 9,510 2019-2020 20,888 2019 Corn (thousand bushels) (1,760 ) 2019 (1,920 ) 2019 Fair Value Hedging Derivatives (Non-Trading) Natural Gas (BBtu): Basis Swaps IFERC/NYMEX (31,703 ) 2019-2020 (17,445 ) 2019 Fixed Swaps/Futures (31,703 ) 2019-2020 (17,445 ) 2019 Hedged Item – Inventory 31,703 2019-2020 17,445 2019 (1) |
Interest Rate Swaps Outstanding | The following table summarizes our interest rate swaps outstanding, none of which were designated as hedges for accounting purposes: Term Type (1) Notional Amount Outstanding September 30, 2019 December 31, 2018 July 2019 (2) Forward-starting to pay a fixed rate of 3.56% and receive a floating rate $ — $ 400 July 2020 (2) Forward-starting to pay a fixed rate of 3.52% and receive a floating rate 400 400 July 2021 (2) Forward-starting to pay a fixed rate of 3.55% and receive a floating rate 400 400 July 2022 (2) Forward-starting to pay a fixed rate of 3.80% and receive a floating rate 400 — March 2019 Pay a floating rate and receive a fixed rate of 1.42% — 300 (1) Floating rates are based on 3-month LIBOR. (2) Represents the effective date. These forward-starting swaps have terms of 30 years with a mandatory termination date the same as the effective date. |
Fair Value Of Derivative Instruments | The following table provides a summary of our derivative assets and liabilities: Fair Value of Derivative Instruments Asset Derivatives Liability Derivatives September 30, 2019 December 31, 2018 September 30, 2019 December 31, 2018 Derivatives designated as hedging instruments: Commodity derivatives (margin deposits) $ 16 $ — $ — $ (13 ) Derivatives not designated as hedging instruments: Commodity derivatives (margin deposits) 543 402 (520 ) (397 ) Commodity derivatives 120 158 (77 ) (173 ) Interest rate derivatives — — (528 ) (163 ) 663 560 (1,125 ) (733 ) Total derivatives $ 679 $ 560 $ (1,125 ) $ (746 ) |
Derivatives, Offsetting Fair Value Amounts [Table Text Block] | The following table presents the fair value of our recognized derivative assets and liabilities on a gross basis and amounts offset on the consolidated balance sheets that are subject to enforceable master netting arrangements or similar arrangements: Asset Derivatives Liability Derivatives Balance Sheet Location September 30, 2019 December 31, 2018 September 30, 2019 December 31, 2018 Derivatives without offsetting agreements Derivative liabilities $ — $ — $ (528 ) $ (163 ) Derivatives in offsetting agreements: OTC contracts Derivative assets (liabilities) 120 158 (77 ) (173 ) Broker cleared derivative contracts Other current assets (liabilities) 559 402 (520 ) (410 ) Total gross derivatives 679 560 (1,125 ) (746 ) Offsetting agreements: Counterparty netting Derivative assets (liabilities) (64 ) (47 ) 64 47 Counterparty netting Other current assets (liabilities) (519 ) (397 ) 519 397 Total net derivatives $ 96 $ 116 $ (542 ) $ (302 ) |
Schedule of Fair Value Hedging Instruments, Statements of Financial Performance and Financial Position, Location [Table Text Block] | The following tables summarize the amounts recognized in income with respect to our derivative financial instruments: Location of Gain Recognized in Income on Derivatives Amount of Gain Recognized in Income Representing Hedge Ineffectiveness and Amount Excluded from the Assessment of Effectiveness Three Months Ended Nine Months Ended 2019 2018 2019 2018 Derivatives in fair value hedging relationships (including hedged item): Commodity derivatives Cost of products sold $ — $ — $ — $ 9 |
Derivatives Not Designated as Hedging Instruments [Table Text Block] | Location of Gain (Loss) Recognized in Income on Derivatives Amount of Gain (Loss) Recognized in Income on Derivatives Three Months Ended Nine Months Ended 2019 2018 2019 2018 Derivatives not designated as hedging instruments: Commodity derivatives – Trading Cost of products sold $ 3 $ 3 $ 15 $ 36 Commodity derivatives – Non-trading Cost of products sold 21 21 (53 ) (345 ) Interest rate derivatives Gains (losses) on interest rate derivatives (175 ) 45 (371 ) 117 Total $ (151 ) $ 69 $ (409 ) $ (192 ) |
Related Party Transactions (Tab
Related Party Transactions (Tables) | 9 Months Ended |
Sep. 30, 2019 | |
Related Party Transactions [Abstract] | |
Related Party Balances For Period Presented [Table Text Block] | The following table summarizes the accounts receivable from and accounts payable to related companies on our consolidated balance sheets: September 30, 2019 December 31, 2018 Accounts receivable from related companies: ET $ 71 $ 65 FGT 51 25 Phillips 66 36 42 Traverse 25 — Other 41 44 Total accounts receivable from related companies $ 224 $ 176 Accounts payable to related companies: ET $ — $ 59 Other 23 60 Total accounts payable to related companies $ 23 $ 119 |
Related Party Transactions For Period Presented [Table Text Block] | The following table summarizes the revenues from related companies on our consolidated statements of operations: Three Months Ended Nine Months Ended 2019 2018 2019 2018 Revenues from related companies $ 129 $ 103 $ 374 $ 325 |
Reportable Segments (Tables)
Reportable Segments (Tables) | 9 Months Ended |
Sep. 30, 2019 | |
Revenue, Segment Benchmark [Member] | |
Segment Reporting Information [Line Items] | |
Schedule of Segment Reporting Information, by Segment [Table Text Block] | The following tables present financial information by segment: Three Months Ended Nine Months Ended 2019 2018 2019 2018 Revenues: Intrastate transportation and storage: Revenues from external customers $ 675 $ 846 $ 2,115 $ 2,424 Intersegment revenues 89 76 270 186 764 922 2,385 2,610 Interstate transportation and storage: Revenues from external customers 475 440 1,454 1,174 Intersegment revenues 4 5 16 13 479 445 1,470 1,187 Midstream: Revenues from external customers 704 537 1,704 1,571 Intersegment revenues 876 1,716 2,792 4,170 1,580 2,253 4,496 5,741 NGL and refined products transportation and services: Revenues from external customers 2,271 2,845 7,340 7,467 Intersegment revenues 607 218 1,181 710 2,878 3,063 8,521 8,177 Crude oil transportation and services: Revenues from external customers 4,453 4,422 13,685 12,942 Intersegment revenues — 16 — 44 4,453 4,438 13,685 12,986 Investment in Sunoco LP: Revenues from external customers 4,328 4,760 12,494 13,114 Intersegment revenues 3 1 4 3 4,331 4,761 12,498 13,117 Investment in USAC: Revenues from external customers 169 166 505 331 Intersegment revenues 6 3 15 5 175 169 520 336 All other: Revenues from external customers 420 498 1,196 1,491 Intersegment revenues 21 27 80 108 441 525 1,276 1,599 Eliminations (1,606 ) (2,062 ) (4,358 ) (5,239 ) Total revenues $ 13,495 $ 14,514 $ 40,493 $ 40,514 |
Operating Segments [Member] | |
Segment Reporting Information [Line Items] | |
Schedule of Segment Reporting Information, by Segment [Table Text Block] | Three Months Ended Nine Months Ended 2019 2018 2019 2018 Segment Adjusted EBITDA: Intrastate transportation and storage $ 235 $ 221 $ 777 $ 621 Interstate transportation and storage 442 459 1,358 1,200 Midstream 411 434 1,205 1,225 NGL and refined products transportation and services 667 498 1,923 1,410 Crude oil transportation and services 700 682 2,257 1,694 Investment in Sunoco LP 192 208 497 457 Investment in USAC 104 90 310 185 All other 37 (6 ) 83 69 Total 2,788 2,586 8,410 6,861 Depreciation, depletion and amortization (782 ) (747 ) (2,334 ) (2,100 ) Interest expense, net of capitalized interest (575 ) (446 ) (1,680 ) (1,246 ) Impairment losses (12 ) — (62 ) — Gains (losses) on interest rate derivatives (175 ) 45 (371 ) 117 Non-cash compensation expense (27 ) (27 ) (85 ) (82 ) Unrealized gains (losses) on commodity risk management activities 64 97 90 (255 ) Losses on extinguishments of debt — — (2 ) (109 ) Inventory valuation adjustments (26 ) (7 ) 71 50 Adjusted EBITDA related to unconsolidated affiliates (161 ) (179 ) (470 ) (503 ) Equity in earnings of unconsolidated affiliates 82 87 224 258 Adjusted EBITDA related to discontinued operations — — — 25 Other, net 103 32 211 58 Income from continuing operations before income tax expense 1,279 1,441 4,002 3,074 Income tax (expense) benefit from continuing operations (55 ) 52 (216 ) (7 ) Income from continuing operations 1,224 1,493 3,786 3,067 Loss from discontinued operations, net of income taxes — (2 ) — (265 ) Net income $ 1,224 $ 1,491 $ 3,786 $ 2,802 |
Guarantor Financial Informati_2
Guarantor Financial Information (Tables) | 9 Months Ended |
Sep. 30, 2019 | |
Guarantor Financial Information [Abstract] | |
Condensed Income Statement [Table Text Block] | The consolidating financial information for the Parent Guarantor, Subsidiary Issuer and Non-Guarantor Subsidiaries are as follows: September 30, 2019 Parent Guarantor Subsidiary Issuer Non-Guarantor Subsidiaries Eliminations Consolidated Partnership Cash and cash equivalents $ — $ — $ 207 $ — $ 207 Accounts receivable, related parties 4,467 43,654 73,807 (121,704 ) 224 All other current assets — — 6,724 — 6,724 Property, plant and equipment, net — — 68,870 — 68,870 Investments in unconsolidated affiliates 56,270 14,838 3,065 (71,186 ) 2,987 All other assets 3,560 131 12,544 — 16,235 Total assets $ 64,297 $ 58,623 $ 165,217 $ (192,890 ) $ 95,247 Accounts payable, related parties $ 2,725 $ 40,512 $ 76,876 $ (120,090 ) $ 23 Other current liabilities 654 140 6,205 — 6,999 Non-current liabilities 31,260 7,603 13,751 — 52,614 Noncontrolling interests — — 7,974 — 7,974 Total partners’ capital 29,658 10,368 60,411 (72,800 ) 27,637 Total liabilities and equity $ 64,297 $ 58,623 $ 165,217 $ (192,890 ) $ 95,247 December 31, 2018 Parent Guarantor Subsidiary Issuer Non-Guarantor Subsidiaries Eliminations Consolidated Partnership Cash and cash equivalents $ — $ — $ 418 $ — $ 418 Accounts receivable, related parties 4,070 36,889 67,110 (107,893 ) 176 All other current assets — — 6,226 — 6,226 Property, plant and equipment, net — — 66,655 — 66,655 Investments in unconsolidated affiliates 51,876 13,090 2,636 (64,966 ) 2,636 All other assets 12 75 12,244 — 12,331 Total assets $ 55,958 $ 50,054 $ 155,289 $ (172,859 ) $ 88,442 Accounts payable, related parties $ 3,031 $ 33,414 $ 72,055 $ (108,381 ) $ 119 Other current liabilities 399 103 8,676 — 9,178 Non-current liabilities 24,787 7,605 10,132 — 42,524 Noncontrolling interests — — 7,903 — 7,903 Total partners’ capital 27,741 8,932 56,523 (64,478 ) 28,718 Total liabilities and equity $ 55,958 $ 50,054 $ 155,289 $ (172,859 ) $ 88,442 Three Months Ended September 30, 2019 Parent Guarantor Subsidiary Issuer Non-Guarantor Subsidiaries Eliminations Consolidated Partnership Revenues $ — $ — $ 13,495 $ — $ 13,495 Operating costs, expenses, and other — — 11,661 — 11,661 Operating income — — 1,834 — 1,834 Interest expense, net of capitalized interest (412 ) (151 ) (12 ) — (575 ) Equity in earnings of unconsolidated affiliates 1,443 519 82 (1,962 ) 82 Gains on interest rate derivatives (175 ) — — — (175 ) Other, net 93 3 17 — 113 Income before income tax expense 949 371 1,921 (1,962 ) 1,279 Income tax expense — — 55 — 55 Net income 949 371 1,866 (1,962 ) 1,224 Less: Net income attributable to noncontrolling interests — — 261 — 261 Less: Net income attributable to redeemable noncontrolling interests — — 12 — 12 Net income attributable to partners $ 949 $ 371 $ 1,593 $ (1,962 ) $ 951 Other comprehensive loss $ — $ — $ (7 ) $ — $ (7 ) Comprehensive income 949 371 1,859 (1,962 ) 1,217 Less: Comprehensive income attributable to noncontrolling interests — — 261 — 261 Less: Comprehensive income attributable to redeemable noncontrolling interests — — 12 — 12 Comprehensive income attributable to partners $ 949 $ 371 $ 1,586 $ (1,962 ) $ 944 Three Months Ended September 30, 2018 Parent Guarantor Subsidiary Issuer Non-Guarantor Subsidiaries Eliminations Consolidated Partnership Revenues $ — $ — $ 14,514 $ — $ 14,514 Operating costs, expenses, and other — — 12,799 — 12,799 Operating income — — 1,715 — 1,715 Interest expense, net of capitalized interest (303 ) (55 ) (88 ) — (446 ) Equity in earnings of unconsolidated affiliates 1,394 501 87 (1,895 ) 87 Gains on interest rate derivatives 45 — — — 45 Other, net — — 40 — 40 Income from continuing operations before income tax benefit 1,136 446 1,754 (1,895 ) 1,441 Income tax benefit from continuing operations — — (52 ) — (52 ) Income from continuing operations 1,136 446 1,806 (1,895 ) 1,493 Loss from discontinued operations, net of income taxes — — (2 ) — (2 ) Net income 1,136 446 1,804 (1,895 ) 1,491 Less: Net income attributable to noncontrolling interests — — 223 — 223 Less: Net income attributable to predecessor equity — — 133 — 133 Net income attributable to partners $ 1,136 $ 446 $ 1,448 $ (1,895 ) $ 1,135 Other comprehensive income $ — $ — $ 4 $ — $ 4 Comprehensive income 1,136 446 1,808 (1,895 ) 1,495 Less: Comprehensive income attributable to noncontrolling interests — — 223 — 223 Less: Comprehensive income attributable to predecessor equity — — 133 — 133 Comprehensive income attributable to partners $ 1,136 $ 446 $ 1,452 $ (1,895 ) $ 1,139 Nine Months Ended September 30, 2019 Parent Guarantor Subsidiary Issuer Non-Guarantor Subsidiaries Eliminations Consolidated Partnership Revenues $ — $ — $ 40,493 $ — $ 40,493 Operating costs, expenses, and other — — 34,904 — 34,904 Operating income — — 5,589 — 5,589 Interest expense, net of capitalized interest (1,190 ) (280 ) (210 ) — (1,680 ) Equity in earnings of unconsolidated affiliates 4,292 1,638 224 (5,930 ) 224 Losses on extinguishments of debt — — (2 ) — (2 ) Gains on interest rate derivatives (371 ) — — — (371 ) Other, net 233 3 6 — 242 Income before income tax benefit 2,964 1,361 5,607 (5,930 ) 4,002 Income tax expense — — 216 — 216 Net income 2,964 1,361 5,391 (5,930 ) 3,786 Less: Net income attributable to noncontrolling interests — — 783 — 783 Less: Net income attributable to redeemable noncontrolling interests — — 38 — 38 Net income attributable to partners $ 2,964 $ 1,361 $ 4,570 $ (5,930 ) $ 2,965 Other comprehensive income $ — $ — $ 2 $ — $ 2 Comprehensive income 2,964 1,361 5,393 (5,930 ) 3,788 Less: Comprehensive income attributable to noncontrolling interests — — 783 — 783 Less: Comprehensive income attributable to redeemable noncontrolling interests 38 38 Comprehensive income attributable to partners $ 2,964 $ 1,361 $ 4,572 $ (5,930 ) $ 2,967 Nine Months Ended September 30, 2018 Parent Guarantor Subsidiary Issuer Non-Guarantor Subsidiaries Eliminations Consolidated Partnership Revenues $ — $ — $ 40,514 $ — $ 40,514 Operating costs, expenses, and other — — 36,556 — 36,556 Operating income — — 3,958 — 3,958 Interest expense, net of capitalized interest (870 ) (137 ) (239 ) — (1,246 ) Equity in earnings of unconsolidated affiliates 3,036 827 258 (3,863 ) 258 Losses on extinguishments of debt — — (109 ) — (109 ) Gains on interest rate derivatives 117 — — — 117 Other, net — — 96 — 96 Income from continuing operations before income tax expense 2,283 690 3,964 (3,863 ) 3,074 Income tax expense from continuing operations — — 7 — 7 Income from continuing operations 2,283 690 3,957 (3,863 ) 3,067 Loss from discontinued operations, net of income taxes — — (265 ) — (265 ) Net income 2,283 690 3,692 (3,863 ) 2,802 Less: Net income attributable to noncontrolling interests — — 557 — 557 Less: Net loss attributable to predecessor equity (37 ) (37 ) Net income attributable to partners $ 2,283 $ 690 $ 3,172 $ (3,863 ) $ 2,282 Other comprehensive income $ — $ — $ 7 $ — $ 7 Comprehensive income 2,283 690 3,699 (3,863 ) 2,809 Less: Comprehensive income attributable to noncontrolling interests — — 557 — 557 Less: Comprehensive loss attributable to predecessor equity (37 ) (37 ) Comprehensive income attributable to partners $ 2,283 $ 690 $ 3,179 $ (3,863 ) $ 2,289 Nine Months Ended September 30, 2019 Parent Guarantor Subsidiary Issuer Non-Guarantor Subsidiaries Eliminations Consolidated Partnership Cash flows provided by operating activities $ 1,854 $ 2,620 $ 4,613 $ (3,025 ) $ 6,062 Cash flows provided by (used in) investing activities (482 ) (2,620 ) (4,346 ) 3,025 (4,423 ) Cash flows provided by (used in) financing activities (1,372 ) — (478 ) — (1,850 ) Change in cash — — (211 ) — (211 ) Cash at beginning of period — — 418 — 418 Cash at end of period $ — $ — $ 207 $ — $ 207 Nine Months Ended September 30, 2018 Parent Guarantor Subsidiary Issuer Non-Guarantor Subsidiaries Eliminations Consolidated Partnership Cash flows provided by operating activities $ 2,753 $ 579 $ 4,256 $ (2,078 ) $ 5,510 Cash flows used in investing activities (834 ) (579 ) (5,178 ) 2,078 (4,513 ) Cash flows used in financing activities (1,919 ) — (1,754 ) — (3,673 ) Net increase in cash and cash equivalents of discontinued operations 2,738 2,738 Change in cash — — 62 — 62 Cash at beginning of period — — 335 — 335 Cash at end of period $ — $ — $ 397 $ — $ 397 |
Operations And Basis of Prese_4
Operations And Basis of Presentation Operations And Organization Narrative (Details) $ in Millions | 3 Months Ended | 9 Months Ended | |
Dec. 31, 2018USD ($)shares | Sep. 30, 2019USD ($) | Jan. 01, 2019USD ($) | |
Goodwill, Impairment Loss | $ | $ 12 | ||
Lease right-of-use assets, net | $ | $ 0 | 889 | |
Operating Lease, Liability | $ | $ 865 | $ 888 | |
ETE Merger [Member] | |||
Stockholders' Equity Note, Stock Split, Conversion Ratio | 1.28 | ||
Traverse | ETE Merger [Member] | |||
Sale of Stock, Number of Shares Issued in Transaction | 2,263,158 | ||
Sunoco GP [Member] | ETE Merger [Member] | |||
Limited Liability Company or Limited Partnership, Members or Limited Partners, Ownership Interest | 100.00% | ||
USAC [Member] | ETE Merger [Member] | |||
Sale of Stock, Number of Shares Issued in Transaction | 12,466,912 | ||
Limited Liability Company or Limited Partnership, Members or Limited Partners, Ownership Interest | 100.00% | ||
Lake Charles LNG [Member] | ETE Merger [Member] | |||
Limited Liability Company or Limited Partnership, Members or Limited Partners, Ownership Interest | 100.00% | ||
Energy Transfer LNG Export LLC, ET Crude Oil Terminals LLC, & ETC Illinois LLC [Member] | ETE Merger [Member] | |||
Limited Liability Company or Limited Partnership, Members or Limited Partners, Ownership Interest | 60.00% | ||
ETO [Member] | Traverse | ETE Merger [Member] | |||
Sale of Stock, Number of Shares Issued in Transaction | 2,874,275 | ||
ETO [Member] | Sunoco GP [Member] | ETE Merger [Member] | |||
Sale of Stock, Number of Shares Issued in Transaction | 42,812,389 | ||
ETO [Member] | USAC [Member] | ETE Merger [Member] | |||
Sale of Stock, Number of Shares Issued in Transaction | 16,134,903 | ||
ETO [Member] | Lake Charles LNG [Member] | ETE Merger [Member] | |||
Sale of Stock, Number of Shares Issued in Transaction | 37,557,815 | ||
IDRs [Member] | ETE Merger [Member] | |||
Sale of Stock, Number of Shares Issued in Transaction | 1,168,205,710 | ||
General Partner | ETE Merger [Member] | |||
Sale of Stock, Number of Shares Issued in Transaction | 18,448,341 | ||
Accounting Standards Update 2016-02 [Member] | |||
Lease right-of-use assets, net | $ | $ 888 |
Operations And Basis of Prese_5
Operations And Basis of Presentation Schedule of Impact of Accounting Standard (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||||
Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | Jan. 01, 2019 | Dec. 31, 2018 | |
Property, Plant and Equipment, Net | $ 68,870 | $ 68,870 | $ 66,654 | $ 66,655 | ||
Operating Lease, Right-of-Use Asset | 889 | |||||
Current maturities of long-term debt | 14 | 14 | 2,656 | 2,655 | ||
Cost of products sold | 9,890 | $ 11,093 | 29,607 | $ 31,681 | ||
Operating expenses | 806 | $ 784 | 2,406 | $ 2,280 | ||
Operating Lease, Liability | 865 | 865 | 888 | |||
Other non-current liabilities | 1,138 | 1,138 | 1,172 | 1,184 | ||
Operating Lease, Liability, Noncurrent | 807 | 807 | 823 | 0 | ||
Long-term debt, less current maturities | 46,716 | 46,716 | 37,859 | 37,853 | ||
Operating Lease, Liability, Current | 57 | 57 | 71 | 0 | ||
Accrued and other current liabilities | $ 3,228 | $ 3,228 | 2,846 | $ 2,847 | ||
Accounting Standards Update 2016-02 [Member] | ||||||
Property, Plant and Equipment, Net | (1) | |||||
Operating Lease, Right-of-Use Asset | 889 | |||||
Current maturities of long-term debt | 1 | |||||
Other non-current liabilities | (12) | |||||
Operating Lease, Liability, Noncurrent | 823 | |||||
Long-term debt, less current maturities | 6 | |||||
Operating Lease, Liability, Current | 71 | |||||
Accrued and other current liabilities | $ (1) |
Acquisitions and Other Transa_3
Acquisitions and Other Transactions Narrative (Details) - USD ($) $ in Millions | 1 Months Ended | 3 Months Ended | 9 Months Ended | |||
Jan. 22, 2018 | Sep. 30, 2019 | Dec. 31, 2018 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | |
Asset Impairment Charges | $ 12 | $ 0 | $ 62 | $ 0 | ||
Revenues | 13,495 | 14,514 | 40,493 | 40,514 | ||
Advances to and investments in unconsolidated affiliates | 2,987 | $ 2,636 | 2,987 | |||
Net Income (Loss) Attributable to Parent | 951 | 1,135 | 2,965 | 2,282 | ||
7-Eleven [Member] | ||||||
Revenues | $ 199 | |||||
Sale of Stock, Number of Shares Issued in Transaction | $ 1,000 | $ 1,000 | $ 2,900 | $ 2,600 | ||
ETE Merger [Member] | Sunoco GP [Member] | ||||||
Limited Liability Company or Limited Partnership, Members or Limited Partners, Ownership Interest | 100.00% | |||||
ETE Merger [Member] | USAC [Member] | ||||||
Limited Liability Company or Limited Partnership, Members or Limited Partners, Ownership Interest | 100.00% | |||||
ETE Merger [Member] | Lake Charles LNG [Member] | ||||||
Limited Liability Company or Limited Partnership, Members or Limited Partners, Ownership Interest | 100.00% | |||||
ETE Merger [Member] | Energy Transfer LNG Export LLC, ET Crude Oil Terminals LLC, & ETC Illinois LLC [Member] | ||||||
Limited Liability Company or Limited Partnership, Members or Limited Partners, Ownership Interest | 60.00% |
Acquisitions and Other Transa_4
Acquisitions and Other Transactions Disposal Group (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | |
Discontinued Operations and Disposal Groups [Abstract] | ||||
REVENUES | $ 0 | $ 349 | ||
Cost of products sold | 0 | 305 | ||
Operating expenses | 0 | 61 | ||
Selling, general and administrative | 0 | 7 | ||
Total costs and expenses | 0 | 373 | ||
OPERATING LOSS | 0 | (24) | ||
Interest expense, net | 0 | 2 | ||
Loss on extinguishment of debt and other | 0 | 20 | ||
Other, net | 0 | 61 | ||
LOSS FROM DISCONTINUED OPERATIONS BEFORE INCOME TAX EXPENSE | 0 | (107) | ||
Income tax expense | 2 | 158 | ||
LOSS FROM DISCONTINUED OPERATIONS, NET OF INCOME TAXES | $ 0 | $ (2) | $ 0 | $ (265) |
Advances to and Investments in
Advances to and Investments in Affiliates (Details) - USD ($) $ in Millions | Sep. 30, 2019 | Dec. 31, 2018 |
Schedule of Equity Method Investments [Line Items] | ||
Advances to and investments in unconsolidated affiliates | $ 2,987 | $ 2,636 |
Cash And Cash Equivalents Net C
Cash And Cash Equivalents Net Change in Operating Assets and Liabilities (Details) - USD ($) $ in Millions | 9 Months Ended | |
Sep. 30, 2019 | Sep. 30, 2018 | |
Cash and Cash Equivalents [Abstract] | ||
Accounts receivable | $ (353) | $ 152 |
Accounts receivable from related companies | (30) | 261 |
Inventories | (66) | 78 |
Other current assets | (14) | (19) |
Other non-current assets, net | (182) | (154) |
Accounts payable | 27 | (232) |
Accounts payable to related companies | (105) | (227) |
Accrued and other current liabilities | 194 | 406 |
Other non-current liabilities | (103) | 25 |
Derivative assets and liabilities, net | 307 | 68 |
Net change in operating assets and liabilities, net of effects of acquisitions | $ (325) | $ 358 |
Cash And Cash Equivalents Non-C
Cash And Cash Equivalents Non-Cash Investing and Financing Activities (Details) - USD ($) $ in Millions | 9 Months Ended | |
Sep. 30, 2019 | Sep. 30, 2018 | |
NON-CASH INVESTING ACTIVITIES: | ||
Accrued capital expenditures | $ 1,202 | $ 1,059 |
Gain (Loss) on Sale of Previously Unissued Stock by Subsidiary | 0 | (125) |
Right-of-Use Asset Obtained in Exchange for Operating Lease Liability | $ 73 | $ 0 |
Inventories (Details)
Inventories (Details) - USD ($) $ in Millions | Sep. 30, 2019 | Dec. 31, 2018 |
Inventory, Gross [Abstract] | ||
Natural gas, NGLs and refined products | $ 900 | $ 833 |
Crude oil | 510 | 506 |
Spare parts and other | 404 | 338 |
Total inventories | $ 1,814 | $ 1,677 |
Fair Value Measurements Narrati
Fair Value Measurements Narrative (Details) - USD ($) $ in Millions | 9 Months Ended | |
Sep. 30, 2019 | Dec. 31, 2018 | |
Fair Value Measurements [Abstract] | ||
Transfers between levels in fair value hierarchy | $ 0 | |
Aggregate fair value of long-term debt | 50,660 | $ 39,540 |
Long-term Debt | $ 46,730 | $ 40,510 |
Fair Value Measurements Fair _2
Fair Value Measurements Fair Value Heigharchy (Details) - Fair Value, Recurring [Member] - USD ($) $ in Millions | Sep. 30, 2019 | Dec. 31, 2018 |
Price Risk Derivative Assets, at Fair Value | $ 679 | $ 560 |
Other Assets, Fair Value Disclosure | 29 | 26 |
Assets, Fair Value Disclosure | 708 | 586 |
Interest rate derivatives, Liabilities | (528) | (163) |
Price Risk Derivative Liabilities, at Fair Value | (597) | (583) |
Financial and Nonfinancial Liabilities, Fair Value Disclosure | (1,125) | (746) |
Level 1 | ||
Price Risk Derivative Assets, at Fair Value | 648 | 448 |
Other Assets, Fair Value Disclosure | 19 | 17 |
Assets, Fair Value Disclosure | 667 | 465 |
Interest rate derivatives, Liabilities | 0 | 0 |
Price Risk Derivative Liabilities, at Fair Value | (572) | (480) |
Financial and Nonfinancial Liabilities, Fair Value Disclosure | (572) | (480) |
Level 2 | ||
Price Risk Derivative Assets, at Fair Value | 31 | 112 |
Other Assets, Fair Value Disclosure | 10 | 9 |
Assets, Fair Value Disclosure | 41 | 121 |
Interest rate derivatives, Liabilities | (528) | (163) |
Price Risk Derivative Liabilities, at Fair Value | (25) | (103) |
Financial and Nonfinancial Liabilities, Fair Value Disclosure | (553) | (266) |
Commodity Derivatives - Natural Gas [Member] | Basis Swaps IFERC/NYMEX [Member] | ||
Price Risk Derivative Assets, at Fair Value | 27 | 42 |
Price Risk Derivative Liabilities, at Fair Value | (54) | (91) |
Commodity Derivatives - Natural Gas [Member] | Basis Swaps IFERC/NYMEX [Member] | Level 1 | ||
Price Risk Derivative Assets, at Fair Value | 27 | 42 |
Price Risk Derivative Liabilities, at Fair Value | (54) | (91) |
Commodity Derivatives - Natural Gas [Member] | Basis Swaps IFERC/NYMEX [Member] | Level 2 | ||
Price Risk Derivative Assets, at Fair Value | 0 | 0 |
Price Risk Derivative Liabilities, at Fair Value | 0 | 0 |
Commodity Derivatives - Natural Gas [Member] | Swing Swaps IFERC [Member] | ||
Price Risk Derivative Assets, at Fair Value | 5 | 52 |
Price Risk Derivative Liabilities, at Fair Value | (9) | (40) |
Commodity Derivatives - Natural Gas [Member] | Swing Swaps IFERC [Member] | Level 1 | ||
Price Risk Derivative Assets, at Fair Value | 0 | 8 |
Price Risk Derivative Liabilities, at Fair Value | 0 | 0 |
Commodity Derivatives - Natural Gas [Member] | Swing Swaps IFERC [Member] | Level 2 | ||
Price Risk Derivative Assets, at Fair Value | 5 | 44 |
Price Risk Derivative Liabilities, at Fair Value | (9) | (40) |
Commodity Derivatives - Natural Gas [Member] | Fixed Swaps/Futures [Member] | ||
Price Risk Derivative Assets, at Fair Value | 44 | 97 |
Price Risk Derivative Liabilities, at Fair Value | (29) | (88) |
Commodity Derivatives - Natural Gas [Member] | Fixed Swaps/Futures [Member] | Level 1 | ||
Price Risk Derivative Assets, at Fair Value | 44 | 97 |
Price Risk Derivative Liabilities, at Fair Value | (29) | (88) |
Commodity Derivatives - Natural Gas [Member] | Fixed Swaps/Futures [Member] | Level 2 | ||
Price Risk Derivative Assets, at Fair Value | 0 | 0 |
Price Risk Derivative Liabilities, at Fair Value | 0 | 0 |
Commodity Derivatives - Natural Gas [Member] | Forward Physical Swaps [Member] | ||
Price Risk Derivative Assets, at Fair Value | 5 | 20 |
Price Risk Derivative Liabilities, at Fair Value | (2) | (21) |
Commodity Derivatives - Natural Gas [Member] | Forward Physical Swaps [Member] | Level 1 | ||
Price Risk Derivative Assets, at Fair Value | 0 | 0 |
Price Risk Derivative Liabilities, at Fair Value | 0 | 0 |
Commodity Derivatives - Natural Gas [Member] | Forward Physical Swaps [Member] | Level 2 | ||
Price Risk Derivative Assets, at Fair Value | 5 | 20 |
Price Risk Derivative Liabilities, at Fair Value | (2) | (21) |
Commodity Derivatives - Power [Member] | Forward Swaps [Member] | ||
Price Risk Derivative Assets, at Fair Value | 21 | 48 |
Price Risk Derivative Liabilities, at Fair Value | (14) | (42) |
Commodity Derivatives - Power [Member] | Forward Swaps [Member] | Level 1 | ||
Price Risk Derivative Assets, at Fair Value | 0 | 0 |
Price Risk Derivative Liabilities, at Fair Value | 0 | 0 |
Commodity Derivatives - Power [Member] | Forward Swaps [Member] | Level 2 | ||
Price Risk Derivative Assets, at Fair Value | 21 | 48 |
Price Risk Derivative Liabilities, at Fair Value | (14) | (42) |
Commodity Derivatives - Power [Member] | Options - Calls [Member] | ||
Price Risk Derivative Assets, at Fair Value | 1 | |
Price Risk Derivative Liabilities, at Fair Value | (1) | |
Commodity Derivatives - Power [Member] | Options - Calls [Member] | Level 1 | ||
Price Risk Derivative Assets, at Fair Value | 1 | |
Price Risk Derivative Liabilities, at Fair Value | (1) | |
Commodity Derivatives - Power [Member] | Options - Calls [Member] | Level 2 | ||
Price Risk Derivative Assets, at Fair Value | 0 | |
Price Risk Derivative Liabilities, at Fair Value | 0 | |
Commodity Derivatives - Power [Member] | Future [Member] | ||
Price Risk Derivative Assets, at Fair Value | 4 | 1 |
Price Risk Derivative Liabilities, at Fair Value | (5) | (1) |
Commodity Derivatives - Power [Member] | Future [Member] | Level 1 | ||
Price Risk Derivative Assets, at Fair Value | 4 | 1 |
Price Risk Derivative Liabilities, at Fair Value | (5) | (1) |
Commodity Derivatives - Power [Member] | Future [Member] | Level 2 | ||
Price Risk Derivative Assets, at Fair Value | 0 | 0 |
Price Risk Derivative Liabilities, at Fair Value | 0 | 0 |
Commodity Derivatives - NGLs [Member] | Forward Swaps [Member] | ||
Price Risk Derivative Assets, at Fair Value | 529 | 291 |
Price Risk Derivative Liabilities, at Fair Value | (479) | (224) |
Commodity Derivatives - NGLs [Member] | Forward Swaps [Member] | Level 1 | ||
Price Risk Derivative Assets, at Fair Value | 529 | 291 |
Price Risk Derivative Liabilities, at Fair Value | (479) | (224) |
Commodity Derivatives - NGLs [Member] | Forward Swaps [Member] | Level 2 | ||
Price Risk Derivative Assets, at Fair Value | 0 | 0 |
Price Risk Derivative Liabilities, at Fair Value | 0 | 0 |
Commodity Derivatives - Refined Products [Member] | Future [Member] | ||
Price Risk Derivative Assets, at Fair Value | 1 | 7 |
Price Risk Derivative Liabilities, at Fair Value | (3) | (15) |
Commodity Derivatives - Refined Products [Member] | Future [Member] | Level 1 | ||
Price Risk Derivative Assets, at Fair Value | 1 | 7 |
Price Risk Derivative Liabilities, at Fair Value | (3) | (15) |
Commodity Derivatives - Refined Products [Member] | Future [Member] | Level 2 | ||
Price Risk Derivative Assets, at Fair Value | 0 | 0 |
Price Risk Derivative Liabilities, at Fair Value | 0 | 0 |
Commodity Derivatives - Crude [Member] | Future [Member] | ||
Price Risk Derivative Assets, at Fair Value | 43 | |
Price Risk Derivative Liabilities, at Fair Value | (1) | |
Commodity Derivatives - Crude [Member] | Future [Member] | Level 1 | ||
Price Risk Derivative Assets, at Fair Value | 43 | |
Price Risk Derivative Liabilities, at Fair Value | (1) | |
Commodity Derivatives - Crude [Member] | Future [Member] | Level 2 | ||
Price Risk Derivative Assets, at Fair Value | 0 | |
Price Risk Derivative Liabilities, at Fair Value | $ 0 | |
Commodity Derivatives - Crude [Member] | Forwards Swaps [Member] | ||
Price Risk Derivative Assets, at Fair Value | 1 | |
Price Risk Derivative Liabilities, at Fair Value | (61) | |
Commodity Derivatives - Crude [Member] | Forwards Swaps [Member] | Level 1 | ||
Price Risk Derivative Assets, at Fair Value | 1 | |
Price Risk Derivative Liabilities, at Fair Value | (61) | |
Commodity Derivatives - Crude [Member] | Forwards Swaps [Member] | Level 2 | ||
Price Risk Derivative Assets, at Fair Value | 0 | |
Price Risk Derivative Liabilities, at Fair Value | $ 0 |
Debt Obligations Narrative (Det
Debt Obligations Narrative (Details) - USD ($) | 1 Months Ended | 9 Months Ended | |||
Jun. 30, 2019 | Mar. 31, 2019 | Jan. 31, 2019 | Sep. 30, 2019 | Oct. 31, 2019 | |
Proceeds from Issuance of Senior Long-term Debt | $ 3,960,000,000 | ||||
ET | |||||
Debt Instrument, Redemption Price, Percentage of Principal Amount Redeemed | 97.00% | ||||
ETO [Member] | |||||
Proceeds from Issuance of Senior Long-term Debt | $ 4,210,000,000 | ||||
Dakota Access, LLC [Member] | |||||
Proceeds from Issuance of Senior Long-term Debt | $ 2,480,000,000 | ||||
Panhandle [Member] | |||||
Debt Instrument, Interest Rate, Stated Percentage | 8.125% | ||||
Repayments of Senior Debt | $ 150,000,000 | ||||
Traverse | |||||
Line of Credit Facility, Maximum Borrowing Capacity | 0.0600 | ||||
Line of Credit Facility, Increase (Decrease), Net | 600,000,000 | ||||
USAC [Member] | |||||
Line of Credit Facility, Maximum Borrowing Capacity | 0.06875 | ||||
Line of Credit Facility, Increase (Decrease), Net | $ 750,000,000 | ||||
Line of Credit Facility, Remaining Borrowing Capacity | 1,210,000,000 | ||||
4.20% Senior Notes due 2023 [Member] | ETO [Member] | |||||
Senior Notes | $ 750,000,000 | ||||
Debt Instrument, Interest Rate, Stated Percentage | 4.50% | ||||
4.95% Senior Notes due 2028 [Member] | ETO [Member] | |||||
Senior Notes | $ 1,500,000,000 | ||||
Debt Instrument, Interest Rate, Stated Percentage | 5.25% | ||||
5.80% Senior Notes due 2038 [Member] | ETO [Member] | |||||
Senior Notes | $ 1,750,000,000 | ||||
Debt Instrument, Interest Rate, Stated Percentage | 6.25% | ||||
ETO Credit Facility due December 2022 [Member] | |||||
Long-term Commercial Paper, Noncurrent | $ 2,150,000,000 | ||||
Line of Credit Facility, Current Borrowing Capacity | 2,320,000,000 | ||||
Long-term Line of Credit | 2,610,000,000 | ||||
Line of Credit Facility, Maximum Borrowing Capacity | 5,000,000,000 | ||||
Letters of Credit Outstanding, Amount | $ 77,000,000 | ||||
Line of Credit Facility, Interest Rate at Period End | 2.77% | ||||
ETO Credit Facility due December 2022 [Member] | Accordion feature [Member] | |||||
Long-term Line of Credit | $ 6,000,000,000 | ||||
ETO 364-day Credit Facility due November 2019 [Member] | |||||
Long-term Line of Credit | 0 | ||||
Line of Credit Facility, Maximum Borrowing Capacity | 1,000,000,000 | ||||
Sunoco LP $1.5 billion Revolving Credit Facility due July 2023 [Member] | Traverse | |||||
Line of Credit Facility, Current Borrowing Capacity | 1,500,000,000 | ||||
Long-term Line of Credit | 154,000,000 | ||||
Letters of Credit Outstanding, Amount | 8,000,000 | ||||
Line of Credit Facility, Remaining Borrowing Capacity | $ 1,340,000,000 | ||||
Line of Credit Facility, Interest Rate at Period End | 4.04% | ||||
USAC Credit Facility, due 2023 [Member] | USA Compression Partners, LP [Member] | |||||
Line of Credit Facility, Current Borrowing Capacity | $ 1,600,000,000 | ||||
Line of Credit Facility, Maximum Borrowing Capacity | 400,000,000 | ||||
USAC Credit Facility, due 2023 [Member] | USAC [Member] | |||||
Long-term Line of Credit | 395,000,000 | ||||
Letters of Credit Outstanding, Amount | 0 | ||||
Line of Credit Facility, Remaining Borrowing Capacity | $ 410,000,000 | ||||
Line of Credit Facility, Interest Rate at Period End | 4.73% | ||||
9.7% Senior Notes, due March 15, 2019 [Member] | ETO [Member] | |||||
Debt Instrument, Interest Rate, Stated Percentage | 9.70% | ||||
Repayments of Senior Debt | $ 400,000,000 | ||||
9.0% Senior Notes due April 15, 2019 [Member] | ETO [Member] | |||||
Debt Instrument, Interest Rate, Stated Percentage | 9.00% | ||||
Repayments of Senior Debt | $ 450,000,000 | ||||
8.125% Senior Notes, due June 1, 2019 [Member] | Panhandle [Member] | |||||
Debt Instrument, Interest Rate, Stated Percentage | 8.125% | ||||
Repayments of Senior Debt | $ 150,000,000 | ||||
3.625% Senior Notes due 2022 [Member] | Dakota Access, LLC [Member] | |||||
Senior Notes | $ 650,000,000 | ||||
Debt Instrument, Interest Rate, Stated Percentage | 3.625% | ||||
3.90% Senior Notes due 2024 [Member] | Dakota Access, LLC [Member] | |||||
Senior Notes | $ 1,000,000,000 | ||||
Debt Instrument, Interest Rate, Stated Percentage | 3.90% | ||||
4.625% Senior Notes due 2029 [Member] | Dakota Access, LLC [Member] | |||||
Senior Notes | $ 850,000,000 | ||||
Debt Instrument, Interest Rate, Stated Percentage | 4.625% | ||||
4.25% Senior Notes due March 15, 2023 [Member] | ETO [Member] | |||||
Senior Notes | $ 995,000,000 | ||||
Debt Instrument, Interest Rate, Stated Percentage | 4.25% | ||||
5.875% Senior Notes due January 15, 2024 [Member] | ETO [Member] | |||||
Senior Notes | $ 1,130,000,000 | ||||
Debt Instrument, Interest Rate, Stated Percentage | 5.875% | ||||
5.5% Senior Notes due June 1, 2027 [Member] | ETO [Member] | |||||
Senior Notes | $ 956,000,000 | ||||
Debt Instrument, Interest Rate, Stated Percentage | 5.50% | ||||
7.50% Senior Notes Due 2020 [Member] | ETO [Member] | |||||
Senior Notes | $ 1,140,000,000 | ||||
Debt Instrument, Interest Rate, Stated Percentage | 7.50% | ||||
Subsequent Event [Member] | ETO Term Loan [Member] | ETO [Member] | |||||
Line of Credit Facility, Maximum Borrowing Capacity | $ 2,000,000,000 |
Redeemable Noncontrolling Int_2
Redeemable Noncontrolling Interests (Details) - USD ($) $ / shares in Units, $ in Millions | 1 Months Ended | 9 Months Ended | |||
Apr. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | Dec. 31, 2018 | Apr. 02, 2018 | |
Noncontrolling Interest [Line Items] | |||||
Redeemable noncontrolling interests | $ 499 | $ 499 | |||
Preferred units issued for cash | 780 | $ 868 | |||
USAC [Member] | |||||
Noncontrolling Interest [Line Items] | |||||
Redeemable noncontrolling interests | 477 | ||||
USAC [Member] | Preferred Units [Member] | |||||
Noncontrolling Interest [Line Items] | |||||
Preferred Units, Issued | 500,000 | ||||
Shares Issued, Price Per Share | $ 1,000 | ||||
Preferred units issued for cash | $ 500 | ||||
Distribution Made to Limited Partner, Distributions Declared, Per Unit | $ 24.375 | ||||
ETO [Member] | |||||
Noncontrolling Interest [Line Items] | |||||
Redeemable noncontrolling interests | $ 22 |
Equity Narrative (Details)
Equity Narrative (Details) - USD ($) $ / shares in Units, $ in Millions | 1 Months Ended | 3 Months Ended | 9 Months Ended | ||||||
Jul. 31, 2019 | Apr. 30, 2019 | Sep. 30, 2019 | Jun. 30, 2019 | Mar. 31, 2019 | Dec. 31, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | Jul. 01, 2019 | |
Proceeds from Issuance of Preferred Limited Partners Units | $ 780 | $ 868 | |||||||
Proceeds from Issuance of Common Limited Partners Units | $ 0 | $ 57 | |||||||
Class M Units [Member] | |||||||||
Limited Partners' Capital Account, Units Issued | 220,500,000 | ||||||||
Distribution Made to Limited Partner, Distributions Declared, Per Unit | $ 0.20 | ||||||||
Series E Preferred Units [Member] | |||||||||
Rate | $ 0.4750 | $ 0.5806 | $ 0 | $ 0 | |||||
Preferred Stock, Shares Issued | 32,000,000 | ||||||||
Preferred Stock, Dividend Rate, Percentage | 7.60% | ||||||||
Shares Issued, Price Per Share | $ 25 | ||||||||
Preferred Units, Liquidation Spread, Percent | 5.161% | ||||||||
Proceeds from Issuance of Preferred Limited Partners Units | $ 800 | ||||||||
Series A Preferred Units [Member] | |||||||||
Rate | 0 | 31.25 | 0 | 31.25 | |||||
Series B Preferred Units [Member] | |||||||||
Rate | 0 | 33.125 | 0 | 33.125 | |||||
Series C Preferred Units [Member] | |||||||||
Rate | 0.4609 | 0.4609 | 0.4609 | 0.4609 | |||||
Series D Preferred Units [Member] | |||||||||
Rate | 0.4766 | 0.4766 | 0.4766 | 0.4766 | |||||
Traverse | |||||||||
Rate | $ 0.8255 | 0.8255 | 0.8255 | 0.8255 | |||||
Traverse | Equity Distribution Program [Member] | |||||||||
Partners' Capital Account, Units, Sale of Units | 0 | ||||||||
Equity Distribution Agreements, Value of Units Available to be Issued | $ 295 | $ 295 | |||||||
USAC [Member] | |||||||||
Stock Issued During Period, Shares, Dividend Reinvestment Plan | 44,605 | ||||||||
Rate | $ 0.5250 | $ 0.5250 | $ 0.5250 | $ 0.5250 | |||||
Stock Issued During Period, Value, Dividend Reinvestment Plan | $ 0.7 | ||||||||
USAC [Member] | Class B Units [Member] | |||||||||
Partners' Capital Account, Units, Converted | 6,397,965 | ||||||||
Over-Allotment Option [Member] | Series E Preferred Units [Member] | |||||||||
Preferred Stock, Shares Issued | 4,000,000 | ||||||||
Proceeds from Issuance of Preferred Limited Partners Units | $ 100 | ||||||||
Series E Preferred Units [Member] | |||||||||
Preferred Units, Outstanding | 32,000,000 | 32,000,000 | |||||||
Series D Preferred Units [Member] | |||||||||
Preferred Units, Outstanding | 17,800,000 | 17,800,000 | |||||||
Series C Preferred Units [Member] | |||||||||
Preferred Units, Outstanding | 18,000,000 | 18,000,000 | |||||||
Series B Preferred Units [Member] | |||||||||
Preferred Units, Outstanding | 550,000 | 550,000 | |||||||
Series A Preferred Units [Member] | |||||||||
Preferred Units, Outstanding | 950,000 | 950,000 | |||||||
USAC [Member] | |||||||||
Stock Issued During Period, Shares, Conversion of Units | 6,397,965 |
Equity Change in Preferred Unit
Equity Change in Preferred Units (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||||||||
Sep. 30, 2019 | Jun. 30, 2019 | Mar. 31, 2019 | Sep. 30, 2018 | Jun. 30, 2018 | Mar. 31, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | Dec. 31, 2018 | Dec. 31, 2017 | |
Preferred Units [Line Items] | ||||||||||
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest | $ 35,611 | $ 36,348 | $ 36,283 | $ 37,899 | $ 37,248 | $ 36,176 | $ 35,611 | $ 37,899 | $ 36,621 | $ 36,967 |
Distributions to partners | (1,644) | (1,643) | (1,514) | (1,125) | (1,066) | (945) | ||||
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest, Excluding Portion Attributable to Redeemable Noncontrolling Interest | 1,212 | 1,268 | 1,268 | 1,465 | ||||||
Stockholders' Equity, Other | (4) | 37 | (28) | (15) | (55) | 42 | ||||
Net income | 1,224 | 1,491 | 734 | 577 | 3,786 | 2,802 | ||||
Partners' Capital Account, Sale of Units | 780 | 450 | 455 | 20 | ||||||
Series B Preferred Units [Member] | ||||||||||
Preferred Units [Line Items] | ||||||||||
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest | 547 | 556 | 547 | 547 | 556 | 546 | 547 | 547 | 556 | 547 |
Distributions to partners | (18) | 0 | (18) | (18) | (9) | |||||
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest, Excluding Portion Attributable to Redeemable Noncontrolling Interest | 9 | 9 | 9 | |||||||
Stockholders' Equity, Other | 0 | 0 | 1 | (1) | ||||||
Net income | 9 | 9 | 9 | |||||||
Partners' Capital Account, Sale of Units | 0 | 0 | 0 | |||||||
Series A Preferred Units [Member] | ||||||||||
Preferred Units [Line Items] | ||||||||||
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest | 944 | 958 | 943 | 944 | 958 | 943 | 944 | 944 | 958 | 944 |
Distributions to partners | (29) | 0 | (30) | (29) | (15) | |||||
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest, Excluding Portion Attributable to Redeemable Noncontrolling Interest | 15 | 15 | 15 | |||||||
Stockholders' Equity, Other | 0 | 0 | 0 | (1) | ||||||
Net income | 15 | 15 | 15 | |||||||
Partners' Capital Account, Sale of Units | 0 | 0 | 0 | |||||||
Series C Preferred Units [Member] | ||||||||||
Preferred Units [Line Items] | ||||||||||
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest | 440 | 440 | 440 | 439 | 442 | 0 | 440 | 439 | 440 | 0 |
Distributions to partners | (8) | (9) | (8) | (10) | 0 | |||||
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest, Excluding Portion Attributable to Redeemable Noncontrolling Interest | 8 | 9 | 8 | |||||||
Stockholders' Equity, Other | 0 | (1) | 0 | 0 | ||||||
Net income | 8 | 6 | 0 | |||||||
Partners' Capital Account, Sale of Units | 0 | 0 | 436 | |||||||
Series D Preferred Units [Member] | ||||||||||
Preferred Units [Line Items] | ||||||||||
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest | 434 | 434 | 434 | 436 | 0 | 0 | 434 | 436 | 434 | 0 |
Distributions to partners | (8) | (9) | (8) | 0 | 0 | |||||
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest, Excluding Portion Attributable to Redeemable Noncontrolling Interest | 8 | 9 | 8 | |||||||
Stockholders' Equity, Other | 0 | (1) | 0 | 0 | ||||||
Net income | 6 | 0 | 0 | |||||||
Partners' Capital Account, Sale of Units | 0 | 431 | 0 | |||||||
Series E Preferred Units [Member] | ||||||||||
Preferred Units [Line Items] | ||||||||||
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest | 786 | 790 | 0 | 786 | 0 | |||||
Distributions to partners | (19) | 0 | 0 | |||||||
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest, Excluding Portion Attributable to Redeemable Noncontrolling Interest | 15 | 11 | 0 | |||||||
Stockholders' Equity, Other | (1) | |||||||||
Partners' Capital Account, Sale of Units | 780 | |||||||||
Series A Preferred Units [Member] | ||||||||||
Preferred Units [Line Items] | ||||||||||
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest | 2,366 | 1,956 | 1,489 | $ 2,366 | $ 1,491 | |||||
Distributions to partners | (57) | 0 | (24) | |||||||
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest, Excluding Portion Attributable to Redeemable Noncontrolling Interest | 38 | |||||||||
Stockholders' Equity, Other | (2) | 1 | (2) | |||||||
Net income | 38 | 30 | 24 | |||||||
Partners' Capital Account, Sale of Units | $ 431 | $ 436 | $ 0 | |||||||
Preferred Units [Member] | ||||||||||
Preferred Units [Line Items] | ||||||||||
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest | 3,151 | 3,178 | 2,364 | $ 3,151 | $ 2,388 | |||||
Distributions to partners | (82) | (18) | (64) | |||||||
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest, Excluding Portion Attributable to Redeemable Noncontrolling Interest | 55 | 53 | 40 | |||||||
Stockholders' Equity, Other | $ 0 | (1) | $ 0 | |||||||
Partners' Capital Account, Sale of Units | $ 780 |
Equity Quarterly Distributions
Equity Quarterly Distributions Of Available Cash (Details) - $ / shares | 3 Months Ended | |||
Sep. 30, 2019 | Jun. 30, 2019 | Mar. 31, 2019 | Dec. 31, 2018 | |
USAC [Member] | ||||
Distribution Made to Member or Limited Partner [Line Items] | ||||
Rate | $ 0.5250 | $ 0.5250 | $ 0.5250 | $ 0.5250 |
Traverse | ||||
Distribution Made to Member or Limited Partner [Line Items] | ||||
Rate | 0.8255 | 0.8255 | 0.8255 | 0.8255 |
Series A Preferred Units [Member] | ||||
Distribution Made to Member or Limited Partner [Line Items] | ||||
Rate | 0 | 31.25 | 0 | 31.25 |
Series B Preferred Units [Member] | ||||
Distribution Made to Member or Limited Partner [Line Items] | ||||
Rate | 0 | 33.125 | 0 | 33.125 |
Series C Preferred Units [Member] | ||||
Distribution Made to Member or Limited Partner [Line Items] | ||||
Rate | 0.4609 | 0.4609 | 0.4609 | 0.4609 |
Series D Preferred Units [Member] | ||||
Distribution Made to Member or Limited Partner [Line Items] | ||||
Rate | 0.4766 | 0.4766 | 0.4766 | 0.4766 |
Series E Preferred Units [Member] | ||||
Distribution Made to Member or Limited Partner [Line Items] | ||||
Rate | $ 0.4750 | $ 0.5806 | $ 0 | $ 0 |
Equity AOCI (Details)
Equity AOCI (Details) - USD ($) $ in Millions | 9 Months Ended | 12 Months Ended |
Sep. 30, 2019 | Dec. 31, 2018 | |
Partners' Capital Notes [Abstract] | ||
Available-for-sale securities (1) | $ 10 | $ 2 |
Foreign currency translation adjustment | (5) | (5) |
Actuarial loss related to pensions and other postretirement benefits | (41) | (48) |
Investments in unconsolidated affiliates, net | (4) | 9 |
Total AOCI, net of tax | $ (40) | $ (42) |
Income Taxes (Details)
Income Taxes (Details) $ in Millions | Sep. 30, 2019USD ($) |
Income Tax Disclosure [Abstract] | |
Deferred Tax Assets, Tax Deferred Expense, Reserves and Accruals, Reserves | $ 530 |
Regulatory Matters, Commitmen_3
Regulatory Matters, Commitments, Contingencies And Environmental Liabilities Narrative (Details) | 1 Months Ended | 3 Months Ended | 9 Months Ended | ||||
Feb. 28, 2018USD ($) | Sep. 30, 2019USD ($) | Sep. 30, 2018USD ($) | Sep. 30, 2019USD ($) | Sep. 30, 2018USD ($) | Jun. 30, 2019USD ($) | Dec. 31, 2018USD ($) | |
Document Period End Date | Sep. 30, 2019 | ||||||
Contractual Right of Way, Expense | $ 5,000,000 | $ 5,000,000 | $ 17,000,000 | $ 18,000,000 | |||
Loss contingency accrual, at carrying value | 61,000,000 | 61,000,000 | $ 53,000,000 | ||||
Amounts recorded in balance sheets for contingencies and current litigation not disclosed | 0 | 0 | |||||
Accrual for Environmental Loss Contingencies | 322,000,000 | 322,000,000 | $ 337,000,000 | ||||
Civil penalties | $ 12,600,000 | ||||||
Compensatory Damages [Member] | |||||||
Gain Contingency, Unrecorded Amount | 319,000,000 | 319,000,000 | |||||
Disgorgement [Member] | |||||||
Gain Contingency, Unrecorded Amount | 595,000,000 | 595,000,000 | |||||
Expense Reimbursement [Member] | |||||||
Gain Contingency, Unrecorded Amount | 1,000,000 | 1,000,000 | |||||
Final Judgement [Member] | |||||||
Gain Contingency, Unrecorded Amount | $ 536,000,000 | $ 536,000,000 | |||||
PES [Member] | |||||||
Limited Liability Company or Limited Partnership, Members or Limited Partners, Ownership Interest | 7.40% | ||||||
Notes Receivable, Related Parties | $ 75,000,000 | ||||||
Sunoco, Inc. [Member] | |||||||
Loss Contingency, Pending Claims, Number | 5 | 5 | |||||
Payments for Environmental Liabilities | $ 16,000,000 | $ 17,000,000 | $ 31,000,000 | $ 32,000,000 | |||
Rover Pipeline LLC [Member] | |||||||
Environmental Penalty | 2,600,000 | ||||||
SPLP [Member] | |||||||
Environmental Penalty | 5,400,000 | ||||||
SPLP and Mid-Valley Pipeline [Member] | |||||||
Environmental Penalty | $ 1,000,000 | ||||||
Sunoco [Member] | |||||||
Sites where remediation operations are responsibility of third parties | 38 | 38 |
Regulatory Matters, Commitmen_4
Regulatory Matters, Commitments, Contingencies And Environmental Liabilities Environmental Liabilities (Details) - USD ($) $ in Millions | 9 Months Ended | |
Sep. 30, 2019 | Dec. 31, 2018 | |
Environmental Exit Cost [Line Items] | ||
Document Period End Date | Sep. 30, 2019 | |
Current | $ 46 | $ 42 |
Non-current | 276 | 295 |
Total environmental liabilities | $ 322 | $ 337 |
Revenue Narrative (Details)
Revenue Narrative (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | |
Contract with Customer, Liability, Revenue Recognized | $ (491) | $ (211) | ||
Traverse | ||||
Capitalized Contract Cost, Amortization | $ 4 | $ 4 | $ 12 | $ 10 |
Revenue Remaining Contract Obli
Revenue Remaining Contract Obligations (Details) $ in Millions | Sep. 30, 2019USD ($) |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2019-12-31 | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Revenue, Remaining Performance Obligation, Amount | $ 1,716 |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2020-12-31 | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Revenue, Remaining Performance Obligation, Amount | 5,544 |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2021-12-31 | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Revenue, Remaining Performance Obligation, Amount | 4,812 |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-12-31 | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Revenue, Remaining Performance Obligation, Amount | 29,062 |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: (nil) | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Revenue, Remaining Performance Obligation, Amount | $ 41,134 |
Revenue Revenue Contract Balanc
Revenue Revenue Contract Balances (Details) - USD ($) $ in Millions | 9 Months Ended | |||
Sep. 30, 2019 | Sep. 30, 2018 | Dec. 31, 2018 | Dec. 31, 2017 | |
Revenue Recognition, Multiple-deliverable Arrangements [Line Items] | ||||
Contract with Customer, Liability, Revenue Recognized | $ (491) | $ (211) | ||
Contract with Customer, Liability | 349 | 403 | $ 392 | $ 205 |
Deferred Revenue, Additions | 448 | $ 409 | ||
Traverse | ||||
Revenue Recognition, Multiple-deliverable Arrangements [Line Items] | ||||
Contract with Customer, Asset, after Allowance for Credit Loss | 102 | 75 | ||
Receivables from Customers | $ 403 | $ 348 |
Lease Accounting Lessee Disclos
Lease Accounting Lessee Disclosure (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2019 | Sep. 30, 2019 | Sep. 30, 2018 | Jan. 01, 2019 | Dec. 31, 2018 | |
Operating Lease, Right-of-Use Asset | $ 889 | ||||
Operating Lease, Weighted Average Remaining Lease Term | 22 years | 22 years | |||
Finance Lease, Weighted Average Remaining Lease Term | 6 years | 6 years | |||
Operating Lease, Cost | $ 28 | $ 87 | |||
Lessee, Operating Lease, 2019 (thereafter) | 27 | 27 | |||
Finance Lease, 2019 (remainder) | 2 | 2 | |||
Lease Liabilities, 2019 (Remainder) | 29 | 29 | |||
Lessee, Operating Lease, 2020 | 96 | 96 | |||
Finance Lease, 2020 | 10 | 10 | |||
Lease Liabilities, 2020 | 106 | 106 | |||
Lessee, Operating Lease, 2021 | 87 | 87 | |||
Finance Lease, 2021 | 10 | 10 | |||
Lease Liabilities, 2021 | 97 | 97 | |||
Lessee, Operating Lease, 2022 | 75 | 75 | |||
Finance Lease, 2022 | 10 | 10 | |||
Lease Liabilities, 2022 | 85 | 85 | |||
Lessee, Operating Lease, 2023 | 70 | 70 | |||
Finance Lease, 2023 | 9 | 9 | |||
Lease Liabilities, 2023 | 79 | 79 | |||
Lessee, Operating Lease, Thereafter | 1,170 | 1,170 | |||
Finance Lease, Thereafter | 10 | 10 | |||
Lease Liabilities, Thereafter | 1,180 | 1,180 | |||
Lessee, Operating Lease, Total lease payments | 1,525 | 1,525 | |||
Finance Lease, Total lease payments | 51 | 51 | |||
Finance Lease, Interest Expense | 1 | 1 | |||
Lease, Cost, Gross | 44 | 136 | |||
Lease, Cost | 30 | 99 | |||
Net Cash Provided by (Used in) Operating Activities | 6,062 | $ 5,510 | |||
Right-of-Use Asset Obtained in Exchange for Finance Lease Liability | 37 | ||||
Net Cash Provided by (Used in) Financing Activities | (1,850) | $ (3,673) | |||
Right-of-Use Asset Obtained in Exchange for Operating Lease Liability | 36 | ||||
Lease Liabilities, Total lease payments due | 1,576 | 1,576 | |||
Lessee, Operating Lease, present value discount | (660) | (660) | |||
Finance Lease, present value discount | (6) | (6) | |||
Lease Liability, present value discount | (666) | (666) | |||
Operating Lease, Liability | 865 | 865 | 888 | ||
Finance Lease, Liability | 45 | 45 | |||
Lease, Liabilities | 910 | 910 | |||
Operating Lease, Liability, Current | 57 | 57 | 71 | $ 0 | |
Accrued and other current liabilities | 3,228 | 3,228 | 2,846 | 2,847 | |
Operating Lease, Liability, Noncurrent | 807 | 807 | 823 | 0 | |
Property, Plant and Equipment, Net | 68,870 | 68,870 | 66,654 | 66,655 | |
Current maturities of long-term debt | 14 | 14 | 2,656 | 2,655 | |
Long-term debt, less current maturities | 46,716 | 46,716 | 37,859 | 37,853 | |
Other non-current liabilities | $ 1,138 | $ 1,138 | $ 1,172 | $ 1,184 | |
Minimum [Member] | |||||
Lessee, Operating Lease, Renewal Term | 1 year | 1 year | |||
Maximum [Member] | |||||
Lessee, Operating Lease, Renewal Term | 20 years | 20 years | |||
Equipment [Member] | Minimum [Member] | |||||
Lessee, Operating Lease, Term of Contract | 5 years | 5 years | |||
Equipment [Member] | Maximum [Member] | |||||
Lessee, Operating Lease, Term of Contract | 15 years | 15 years | |||
Real Estate [Member] | |||||
Lessee, Operating Lease, Term of Contract | 40 years | 40 years | |||
Operating Leases [Member] | |||||
Operating Lease, Right-of-Use Asset | $ 850 | $ 850 | |||
Net Cash Provided by (Used in) Operating Activities | (78) | ||||
Operating Lease, Liability, Current | 57 | 57 | |||
Accrued and other current liabilities | 1 | 1 | |||
Operating Lease, Liability, Noncurrent | 807 | 807 | |||
Finance Leases [Member] | |||||
Lease, Cost | 3 | 5 | |||
Accrued and other current liabilities | 1 | 1 | |||
Property, Plant and Equipment, Net | 2 | 2 | |||
Finance Lease, Right-of-Use Asset | 39 | 39 | |||
Current maturities of long-term debt | 7 | 7 | |||
Long-term debt, less current maturities | 35 | 35 | |||
Other non-current liabilities | $ 2 | $ 2 | |||
ETO [Member] | |||||
Operating Lease, Weighted Average Discount Rate, Percent | 5.00% | 5.00% | |||
Finance Lease, Weighted Average Discount Rate, Percent | 5.00% | 5.00% | |||
Cost of Goods and Service Benchmark [Member] | |||||
Operating Lease, Cost | $ 7 | $ 23 | |||
Operating Expense [Member] | |||||
Operating Lease, Cost | 18 | 54 | |||
Short-term Lease, Cost | 10 | 33 | |||
Variable Lease, Cost | 3 | 11 | |||
Selling, General and Administrative Expenses [Member] | |||||
Operating Lease, Cost | 3 | 10 | |||
Depreciation And Amortization [Member] | |||||
Finance Lease, Right-of-Use Asset, Amortization | 2 | 4 | |||
Other Revenue [Member] | |||||
Sublease Income | $ 14 | $ 37 |
Lease Accounting Lessor Disclos
Lease Accounting Lessor Disclosures (Details) $ in Millions | 3 Months Ended | 9 Months Ended |
Sep. 30, 2019USD ($) | Sep. 30, 2019USD ($) | |
Leases [Abstract] | ||
Lessor, Operating Lease, Term of Contract | 5 years | 5 years |
Lessor, 2019 (remainder) | $ 25 | $ 25 |
Lessor, 2020 | 85 | 85 |
Lessor, 2021 | 69 | 69 |
Lessor, 2022 | 56 | 56 |
Lessor, 2023 | 4 | 4 |
Lessor, Thereafter | 7 | 7 |
Lessor, Total undiscounted cash flows | 246 | 246 |
Rental Income, Nonoperating | $ 39 | $ 111 |
Derivative Assets And Liabili_4
Derivative Assets And Liabilities Outstanding Commodity Derivatives (Details) | Sep. 30, 2019barrelsMegawattMMbtubblbushels | Dec. 31, 2018barrelsMegawattMMbtubblbushels | |
Fixed Swaps/Futures [Member] | Non Trading [Member] | Mark-To-Market Derivatives [Member] | Short [Member] | Natural Gas [Member] | |||
Notional Volume | 1,068 | ||
Fixed Swaps/Futures [Member] | Non Trading [Member] | Mark-To-Market Derivatives [Member] | Long [Member] | Natural Gas [Member] | |||
Notional Volume | 2,323 | ||
Fixed Swaps/Futures [Member] | Non Trading [Member] | Fair Value Hedging Derivatives [Member] | Short [Member] | Natural Gas [Member] | |||
Notional Volume | 31,703 | 17,445 | |
Fixed Swaps/Futures [Member] | Trading [Member] | Mark-To-Market Derivatives [Member] | Long [Member] | Natural Gas [Member] | |||
Notional Volume | 1,723 | 468 | |
Forward Physical Contracts [Member] | Non Trading [Member] | Mark-To-Market Derivatives [Member] | Short [Member] | Natural Gas [Member] | |||
Notional Volume | 29,492 | 123,254 | |
Forwards Swaps [Member] | Non Trading [Member] | Mark-To-Market Derivatives [Member] | Short [Member] | Natural Gas Liquids [Member] | |||
Notional Volume | bbl | 9,687 | 2,135 | |
Forwards Swaps [Member] | Non Trading [Member] | Mark-To-Market Derivatives [Member] | Long [Member] | Crude Oil [Member] | |||
Notional Volume | bbl | 9,510 | 20,888 | |
Forwards Swaps [Member] | Trading [Member] | Mark-To-Market Derivatives [Member] | Long [Member] | Power [Member] | |||
Notional Volume | Megawatt | 2,847,350 | 3,141,520 | |
Hedged Item - Inventory (MMBtu) [Member] | Non Trading [Member] | Fair Value Hedging Derivatives [Member] | Long [Member] | Natural Gas [Member] | |||
Notional Volume | 31,703 | 17,445 | |
Basis Swaps IFERC/NYMEX [Member] | Non Trading [Member] | Mark-To-Market Derivatives [Member] | Short [Member] | Natural Gas [Member] | |||
Notional Volume | 23,653 | 30,228 | |
Basis Swaps IFERC/NYMEX [Member] | Non Trading [Member] | Fair Value Hedging Derivatives [Member] | Short [Member] | Natural Gas [Member] | |||
Notional Volume | 31,703 | 17,445 | |
Basis Swaps IFERC/NYMEX [Member] | Trading [Member] | Mark-To-Market Derivatives [Member] | Long [Member] | Natural Gas [Member] | |||
Notional Volume | [1] | 20,563 | 16,845 |
Options - Calls [Member] | Trading [Member] | Mark-To-Market Derivatives [Member] | Short [Member] | Power [Member] | |||
Notional Volume | Megawatt | 756,153 | ||
Options - Calls [Member] | Trading [Member] | Mark-To-Market Derivatives [Member] | Long [Member] | Power [Member] | |||
Notional Volume | Megawatt | 284,800 | ||
Swing Swaps IFERC [Member] | Non Trading [Member] | Mark-To-Market Derivatives [Member] | Long [Member] | Natural Gas [Member] | |||
Notional Volume | 22,365 | 54,158 | |
Future [Member] | Non Trading [Member] | Mark-To-Market Derivatives [Member] | Short [Member] | |||
Notional Volume | bushels | 1,760 | ||
Future [Member] | Non Trading [Member] | Mark-To-Market Derivatives [Member] | Short [Member] | Refined Products [Member] | |||
Notional Volume | barrels | 906 | 1,403 | |
Future [Member] | Non Trading [Member] | Mark-To-Market Derivatives [Member] | Short [Member] | Corn [Member] | |||
Notional Volume | bushels | 1,920 | ||
Future [Member] | Trading [Member] | Mark-To-Market Derivatives [Member] | Long [Member] | Power [Member] | |||
Notional Volume | Megawatt | 222,440 | 56,656 | |
Options - Puts [Member] | Trading [Member] | Mark-To-Market Derivatives [Member] | Long [Member] | Natural Gas [Member] | |||
Notional Volume | 0 | ||
Options - Puts [Member] | Trading [Member] | Mark-To-Market Derivatives [Member] | Long [Member] | Power [Member] | |||
Notional Volume | Megawatt | 515,317 | ||
Put Option [Member] | Trading [Member] | Mark-To-Market Derivatives [Member] | Long [Member] | Natural Gas [Member] | |||
Notional Volume | 10,000 | ||
Put Option [Member] | Trading [Member] | Mark-To-Market Derivatives [Member] | Long [Member] | Power [Member] | |||
Notional Volume | Megawatt | 18,400 | ||
[1] | Includes aggregate amounts for open positions related to Houston Ship Channel, Waha Hub, NGPL TexOk, West Louisiana Zone and Henry Hub locations |
Derivative Assets And Liabili_5
Derivative Assets And Liabilities Outstanding Interest Rate Derivatives (Details) - USD ($) $ in Millions | 9 Months Ended | ||
Sep. 30, 2019 | Dec. 31, 2018 | ||
July 2019 [Member] | |||
Notional Amount | [1] | $ 0 | $ 400 |
Type | [1],[2] | Forward-starting to pay a fixed rate of 3.56% and receive a floating rate | |
July 2020 [Member] | |||
Notional Amount | [1] | $ 400 | 400 |
Type | [1],[2] | Forward-starting to pay a fixed rate of 3.52% and receive a floating rate | |
July 2021 [Member] | |||
Notional Amount | [1] | $ 400 | 400 |
Type | [1],[2] | Forward-starting to pay a fixed rate of 3.55% and receive a floating rate | |
July 2022 [Member] | |||
Notional Amount | [1] | $ 400 | 0 |
Type | [1],[2] | Forward-starting to pay a fixed rate of 3.80% and receive a floating rate | |
March 2019 [Member] | |||
Notional Amount | $ 0 | $ 300 | |
Type | [2] | Pay a floating rate and receive a fixed rate of 1.42% | |
[1] | Represents the effective date. These forward-starting swaps have terms of 30 years with a mandatory termination date the same as the effective date. | ||
[2] | Floating rates are based on 3-month LIBOR. |
Derivative Assets And Liabili_6
Derivative Assets And Liabilities Fair Value of Derivative Instruments (Details) - USD ($) $ in Millions | Sep. 30, 2019 | Dec. 31, 2018 |
Total derivatives assets | $ 679 | $ 560 |
Total derivatives liabilities | (1,125) | (746) |
Designated as Hedging Instrument [Member] | Commodity derivatives (margin deposits) | ||
Total derivatives assets | 16 | 0 |
Total derivatives liabilities | 0 | (13) |
Not Designated as Hedging Instrument [Member] | ||
Total derivatives assets | 663 | 560 |
Total derivatives liabilities | (1,125) | (733) |
Not Designated as Hedging Instrument [Member] | Commodity derivatives (margin deposits) | ||
Total derivatives assets | 543 | 402 |
Total derivatives liabilities | (520) | (397) |
Not Designated as Hedging Instrument [Member] | Commodity derivatives | ||
Total derivatives assets | 120 | 158 |
Total derivatives liabilities | (77) | (173) |
Not Designated as Hedging Instrument [Member] | Interest rate derivatives | ||
Total derivatives assets | 0 | 0 |
Total derivatives liabilities | $ (528) | $ (163) |
Derivative Assets And Liabili_7
Derivative Assets And Liabilities Fair Value of Derivatives, Netting Basis (Details) - USD ($) $ in Millions | Sep. 30, 2019 | Dec. 31, 2018 |
Derivative [Line Items] | ||
Derivative Asset, Fair Value, Gross Asset | $ 679 | $ 560 |
Derivative Liability, Fair Value, Gross Liability | (1,125) | (746) |
Derivative Asset, Fair Value, Amount Offset Against Collateral | (64) | (47) |
Derivative Liability, Fair Value, Amount Offset Against Collateral | 64 | 47 |
Derivative Asset, Collateral, Obligation to Return Cash, Offset | (519) | (397) |
Derivative Liability, Collateral, Right to Reclaim Cash, Offset | 519 | 397 |
Derivative Asset, Fair Value, Net | 96 | 116 |
Derivative Liability, Fair Value, Net | (542) | (302) |
Without offsetting agreements [Member] | ||
Derivative [Line Items] | ||
Derivative Asset, Fair Value, Gross Asset | 0 | 0 |
Derivative Liability, Fair Value, Gross Liability | (528) | (163) |
OTC Contracts [Member] | ||
Derivative [Line Items] | ||
Derivative Asset, Fair Value, Gross Asset | 120 | 158 |
Derivative Liability, Fair Value, Gross Liability | (77) | (173) |
Broker cleared derivative contracts [Member] | ||
Derivative [Line Items] | ||
Derivative Asset, Fair Value, Gross Asset | 559 | 402 |
Derivative Liability, Fair Value, Gross Liability | $ (520) | $ (410) |
Derivative Assets And Liabili_8
Derivative Assets And Liabilities Partnership's Derivative Assets And Liabilities, Recognized OCI On Derivatives (Effective Portion) (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | |
Commodity Derivatives [Member] | ||||
Commodity derivatives | $ 0 | $ 0 | $ 0 | $ 9 |
Derivative Assets And Liabili_9
Derivative Assets And Liabilities Partnership's Derivative Assets And Liabilities, Amount Of Gain/(Loss) Reclassified From AOCI Into Income (Effective Portion) (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | |
Amount of Gain (Loss) Recognized in Income on Derivatives | $ (151) | $ 69 | $ (409) | $ (192) |
Gains (losses) on interest rate derivatives | (175) | 45 | (371) | 117 |
Commodity Derivatives - Trading [Member] | ||||
Amount of Gain (Loss) Recognized in Income on Derivatives | 3 | 3 | 15 | 36 |
Commodity derivatives | ||||
Amount of Gain Recognized in Income Representing Hedge Ineffectiveness and Amount Excluded from the Assessment of Effectiveness | 0 | 0 | 0 | 9 |
Amount of Gain (Loss) Recognized in Income on Derivatives | $ 21 | $ 21 | $ (53) | $ (345) |
Related Party Transactions Narr
Related Party Transactions Narrative (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2019 | Sep. 30, 2019 | Dec. 31, 2018 | Oct. 31, 2018 | |
Related Party Transaction [Line Items] | ||||
Notes Payable, Related Parties | $ 2,200 | |||
ET-ETO Promissory Note A [Member] | ET | ||||
Related Party Transaction [Line Items] | ||||
Notes Receivable, Related Parties | $ 0 | $ 0 | $ 440 | |
ET-ETO Promissory Note B [Member] | ET | ||||
Related Party Transaction [Line Items] | ||||
Notes Receivable, Related Parties | 3,690 | 3,690 | ||
Line of Credit Facility, Maximum Borrowing Capacity | 4,250 | 4,250 | ||
ET | ||||
Related Party Transaction [Line Items] | ||||
Notes Payable, Related Parties, Noncurrent | (85) | (85) | ||
ET-ETO Promissory Notes [Member] | ||||
Related Party Transaction [Line Items] | ||||
Interest Income, Related Party | $ 56 | $ 144 |
Related Party Transactions Affi
Related Party Transactions Affiliated Revenue (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | |
Related Party Transactions [Abstract] | ||||
Revenues from related companies | $ 129 | $ 103 | $ 374 | $ 325 |
Related Party Transactions Rela
Related Party Transactions Related Party A/R and A/P (Details) - USD ($) $ in Millions | Sep. 30, 2019 | Dec. 31, 2018 |
Total accounts receivable from related companies | $ 224 | $ 176 |
Accounts Payable, Related Parties, Current | 23 | 119 |
ET | ||
Total accounts receivable from related companies | 71 | 65 |
Accounts Payable, Related Parties, Current | 0 | 59 |
Trans-Pecos Pipeline, LLC | ||
Total accounts receivable from related companies | 51 | 25 |
Phillips 66 Company [Member] | ||
Total accounts receivable from related companies | 36 | 42 |
Other | ||
Total accounts receivable from related companies | 41 | 44 |
Accounts Payable, Related Parties, Current | 23 | 60 |
Traverse [Member] | ||
Total accounts receivable from related companies | 25 | 0 |
ET-ETO Promissory Note A [Member] | ET | ||
Notes Receivable, Related Parties | 0 | $ 440 |
ET-ETO Promissory Note B [Member] | ET | ||
Notes Receivable, Related Parties | $ 3,690 |
Reportable Segments Segment Rev
Reportable Segments Segment Revenues (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | |
Segment Reporting Information [Line Items] | ||||
Revenues | $ 13,495 | $ 14,514 | $ 40,493 | $ 40,514 |
Intrastate transportation and storage | ||||
Segment Reporting Information [Line Items] | ||||
Revenues | 764 | 922 | 2,385 | 2,610 |
Intrastate transportation and storage | Revenues from external customers | ||||
Segment Reporting Information [Line Items] | ||||
Revenues | 675 | 846 | 2,115 | 2,424 |
Intrastate transportation and storage | Intersegment revenues | ||||
Segment Reporting Information [Line Items] | ||||
Revenues | 89 | 76 | 270 | 186 |
Interstate transportation and storage | ||||
Segment Reporting Information [Line Items] | ||||
Revenues | 479 | 445 | 1,470 | 1,187 |
Interstate transportation and storage | Revenues from external customers | ||||
Segment Reporting Information [Line Items] | ||||
Revenues | 475 | 440 | 1,454 | 1,174 |
Interstate transportation and storage | Intersegment revenues | ||||
Segment Reporting Information [Line Items] | ||||
Revenues | 4 | 5 | 16 | 13 |
Midstream | ||||
Segment Reporting Information [Line Items] | ||||
Revenues | 1,580 | 2,253 | 4,496 | 5,741 |
Midstream | Revenues from external customers | ||||
Segment Reporting Information [Line Items] | ||||
Revenues | 704 | 537 | 1,704 | 1,571 |
Midstream | Intersegment revenues | ||||
Segment Reporting Information [Line Items] | ||||
Revenues | 876 | 1,716 | 2,792 | 4,170 |
NGL and refined products transportation and services | ||||
Segment Reporting Information [Line Items] | ||||
Revenues | 2,878 | 3,063 | 8,521 | 8,177 |
NGL and refined products transportation and services | Revenues from external customers | ||||
Segment Reporting Information [Line Items] | ||||
Revenues | 2,271 | 2,845 | 7,340 | 7,467 |
NGL and refined products transportation and services | Intersegment revenues | ||||
Segment Reporting Information [Line Items] | ||||
Revenues | 607 | 218 | 1,181 | 710 |
Crude oil transportation and services | ||||
Segment Reporting Information [Line Items] | ||||
Revenues | 4,453 | 4,438 | 13,685 | 12,986 |
Crude oil transportation and services | Revenues from external customers | ||||
Segment Reporting Information [Line Items] | ||||
Revenues | 4,453 | 4,422 | 13,685 | 12,942 |
Crude oil transportation and services | Intersegment revenues | ||||
Segment Reporting Information [Line Items] | ||||
Revenues | 0 | 16 | 0 | 44 |
Investment In Sunoco LP [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Revenues | 4,331 | 4,761 | 12,498 | 13,117 |
Investment In Sunoco LP [Member] | Revenues from external customers | ||||
Segment Reporting Information [Line Items] | ||||
Revenues | 4,328 | 4,760 | 12,494 | 13,114 |
Investment In Sunoco LP [Member] | Intersegment revenues | ||||
Segment Reporting Information [Line Items] | ||||
Revenues | 3 | 1 | 4 | 3 |
Investment In USAC [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Revenues | 175 | 169 | 520 | 336 |
Investment In USAC [Member] | Revenues from external customers | ||||
Segment Reporting Information [Line Items] | ||||
Revenues | 169 | 166 | 505 | 331 |
Investment In USAC [Member] | Intersegment revenues | ||||
Segment Reporting Information [Line Items] | ||||
Revenues | 6 | 3 | 15 | 5 |
All other | ||||
Segment Reporting Information [Line Items] | ||||
Revenues | 441 | 525 | 1,276 | 1,599 |
All other | Revenues from external customers | ||||
Segment Reporting Information [Line Items] | ||||
Revenues | 420 | 498 | 1,196 | 1,491 |
All other | Intersegment revenues | ||||
Segment Reporting Information [Line Items] | ||||
Revenues | 21 | 27 | 80 | 108 |
Eliminations | ||||
Segment Reporting Information [Line Items] | ||||
Revenues | $ (1,606) | $ (2,062) | $ (4,358) | $ (5,239) |
Reportable Segments Segment Adj
Reportable Segments Segment Adjusted EBITDA (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||||
Sep. 30, 2019 | Sep. 30, 2018 | Jun. 30, 2018 | Mar. 31, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | |
Segment Reporting Information [Line Items] | ||||||
Inventory valuation adjustments | $ (26) | $ (7) | $ (71) | $ (50) | ||
Adjusted EBITDA attributable to discontinued operations | 0 | 0 | 0 | 25 | ||
Segment Adjusted EBITDA | 2,788 | 2,586 | 8,410 | 6,861 | ||
Depreciation, depletion and amortization | (782) | (747) | (2,334) | (2,100) | ||
Interest expense, net of capitalized interest | (575) | (446) | (1,680) | (1,246) | ||
Asset Impairment Charges | (12) | 0 | (62) | 0 | ||
Gains (losses) on interest rate derivatives | (175) | 45 | (371) | 117 | ||
Non-cash compensation expense | (27) | (27) | (85) | (82) | ||
Unrealized gains (losses) on commodity risk management activities | 64 | 97 | 90 | (255) | ||
Gain (Loss) on Extinguishment of Debt | 0 | 0 | (2) | (109) | ||
Adjusted EBITDA related to unconsolidated affiliates | (161) | (179) | (470) | (503) | ||
Equity in earnings of unconsolidated affiliates | 82 | 87 | 224 | 258 | ||
Other, net | 103 | 32 | 211 | 58 | ||
INCOME BEFORE INCOME TAX EXPENSE (BENEFIT) | 1,279 | 1,441 | 4,002 | 3,074 | ||
Income tax expense (benefit) | (55) | 52 | (216) | (7) | ||
Income (Loss) from Continuing Operations, Net of Tax, Attributable to Parent | 1,224 | 1,493 | 3,786 | 3,067 | ||
LOSS FROM DISCONTINUED OPERATIONS, NET OF INCOME TAXES | 0 | (2) | 0 | (265) | ||
Net income | 1,224 | 1,491 | $ 734 | $ 577 | 3,786 | 2,802 |
Intrastate transportation and storage | ||||||
Segment Reporting Information [Line Items] | ||||||
Segment Adjusted EBITDA | 235 | 221 | 777 | 621 | ||
Interstate transportation and storage | ||||||
Segment Reporting Information [Line Items] | ||||||
Segment Adjusted EBITDA | 442 | 459 | 1,358 | 1,200 | ||
Midstream | ||||||
Segment Reporting Information [Line Items] | ||||||
Segment Adjusted EBITDA | 411 | 434 | 1,205 | 1,225 | ||
NGL and refined products transportation and services | ||||||
Segment Reporting Information [Line Items] | ||||||
Segment Adjusted EBITDA | 667 | 498 | 1,923 | 1,410 | ||
Crude oil transportation and services | ||||||
Segment Reporting Information [Line Items] | ||||||
Segment Adjusted EBITDA | 700 | 682 | 2,257 | 1,694 | ||
Investment In Sunoco LP [Member] | ||||||
Segment Reporting Information [Line Items] | ||||||
Segment Adjusted EBITDA | 192 | 208 | 497 | 457 | ||
Investment In USAC [Member] | ||||||
Segment Reporting Information [Line Items] | ||||||
Segment Adjusted EBITDA | 104 | 90 | 310 | 185 | ||
All other | ||||||
Segment Reporting Information [Line Items] | ||||||
Segment Adjusted EBITDA | $ 37 | $ (6) | $ 83 | $ 69 |
Guarantor Financial Informati_3
Guarantor Financial Information Balance Sheet (Details) - USD ($) $ in Millions | Sep. 30, 2019 | Jan. 01, 2019 | Dec. 31, 2018 | Sep. 30, 2018 | Dec. 31, 2017 |
Cash and Cash Equivalents, at Carrying Value | $ 207 | $ 418 | $ 397 | $ 335 | |
Accounts receivable from related companies | 224 | 176 | |||
Other current assets | 6,724 | 6,226 | |||
Property, Plant and Equipment, Net | 68,870 | $ 66,654 | 66,655 | ||
Advances to and investments in unconsolidated affiliates | 2,987 | 2,636 | |||
Other Assets, Noncurrent | 16,235 | 12,331 | |||
Assets | 95,247 | 88,442 | |||
Accounts payable to related companies | 23 | 119 | |||
Liabilities, Current | 6,999 | 9,178 | |||
Liabilities, Noncurrent | 52,614 | 42,524 | |||
Noncontrolling interest | 7,974 | 7,903 | |||
Other non-current liabilities | 1,138 | $ 1,172 | 1,184 | ||
Partners' Capital | 27,637 | 28,718 | |||
Liabilities and Equity | 95,247 | 88,442 | |||
Parent Guarantor [Member] | |||||
Cash and Cash Equivalents, at Carrying Value | 0 | 0 | 0 | 0 | |
Accounts receivable from related companies | 4,467 | 4,070 | |||
Other current assets | 0 | 0 | |||
Property, Plant and Equipment, Net | 0 | 0 | |||
Advances to and investments in unconsolidated affiliates | 56,270 | 51,876 | |||
Other Assets, Noncurrent | 3,560 | 12 | |||
Assets | 64,297 | 55,958 | |||
Accounts payable to related companies | 2,725 | 3,031 | |||
Liabilities, Current | 654 | 399 | |||
Liabilities, Noncurrent | 31,260 | 24,787 | |||
Noncontrolling interest | 0 | 0 | |||
Partners' Capital | 29,658 | 27,741 | |||
Liabilities and Equity | 64,297 | 55,958 | |||
Subsidiary Issuer [Member] | |||||
Cash and Cash Equivalents, at Carrying Value | 0 | 0 | 0 | 0 | |
Accounts receivable from related companies | 43,654 | 36,889 | |||
Other current assets | 0 | 0 | |||
Property, Plant and Equipment, Net | 0 | 0 | |||
Advances to and investments in unconsolidated affiliates | 14,838 | 13,090 | |||
Other Assets, Noncurrent | 131 | 75 | |||
Assets | 58,623 | 50,054 | |||
Accounts payable to related companies | 40,512 | 33,414 | |||
Liabilities, Current | 140 | 103 | |||
Liabilities, Noncurrent | 7,603 | 7,605 | |||
Noncontrolling interest | 0 | 0 | |||
Partners' Capital | 10,368 | 8,932 | |||
Liabilities and Equity | 58,623 | 50,054 | |||
Non-Guarantor Subsidiaries [Member] | |||||
Cash and Cash Equivalents, at Carrying Value | 207 | 418 | 397 | 335 | |
Accounts receivable from related companies | 73,807 | 67,110 | |||
Other current assets | 6,724 | 6,226 | |||
Property, Plant and Equipment, Net | 68,870 | 66,655 | |||
Advances to and investments in unconsolidated affiliates | 3,065 | 2,636 | |||
Other Assets, Noncurrent | 12,544 | 12,244 | |||
Assets | 165,217 | 155,289 | |||
Accounts payable to related companies | 76,876 | 72,055 | |||
Liabilities, Current | 6,205 | 8,676 | |||
Liabilities, Noncurrent | 13,751 | 10,132 | |||
Noncontrolling interest | 7,974 | 7,903 | |||
Partners' Capital | 60,411 | 56,523 | |||
Liabilities and Equity | 165,217 | 155,289 | |||
Adjustments And Eliminations [Member] | |||||
Cash and Cash Equivalents, at Carrying Value | 0 | 0 | $ 0 | $ 0 | |
Accounts receivable from related companies | (121,704) | (107,893) | |||
Other current assets | 0 | 0 | |||
Property, Plant and Equipment, Net | 0 | 0 | |||
Advances to and investments in unconsolidated affiliates | (71,186) | (64,966) | |||
Other Assets, Noncurrent | 0 | 0 | |||
Assets | (192,890) | (172,859) | |||
Accounts payable to related companies | (120,090) | (108,381) | |||
Liabilities, Current | 0 | 0 | |||
Liabilities, Noncurrent | 0 | 0 | |||
Noncontrolling interest | 0 | 0 | |||
Partners' Capital | (72,800) | (64,478) | |||
Liabilities and Equity | $ (192,890) | $ (172,859) |
Guarantor Financial Informati_4
Guarantor Financial Information Statements of Operations (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||||||
Sep. 30, 2019 | Jun. 30, 2019 | Mar. 31, 2019 | Sep. 30, 2018 | Jun. 30, 2018 | Mar. 31, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | |
Revenues | $ 13,495 | $ 14,514 | $ 40,493 | $ 40,514 | ||||
Costs and Expenses | 11,661 | 12,799 | 34,904 | 36,556 | ||||
OPERATING INCOME | 1,834 | 1,715 | 5,589 | 3,958 | ||||
Interest Expense | (575) | (446) | (1,680) | (1,246) | ||||
Equity in earnings of unconsolidated affiliates | 82 | 87 | 224 | 258 | ||||
Gain (Loss) on Extinguishment of Debt | 0 | 0 | (2) | (109) | ||||
Gains (losses) on interest rate derivatives | (175) | 45 | (371) | 117 | ||||
Other Nonoperating Income (Expense) | 113 | 40 | 242 | 96 | ||||
Income (Loss) Attributable to Parent, before Tax | 1,279 | 1,441 | 4,002 | 3,074 | ||||
Income tax expense (benefit) from continuing operations | 55 | (52) | 216 | 7 | ||||
Income (Loss) from Continuing Operations, Net of Tax, Attributable to Parent | 1,224 | 1,493 | 3,786 | 3,067 | ||||
LOSS FROM DISCONTINUED OPERATIONS, NET OF INCOME TAXES | 0 | (2) | 0 | (265) | ||||
Net income | 1,224 | 1,491 | $ 734 | $ 577 | 3,786 | 2,802 | ||
Less: Net income attributable to noncontrolling interests | 261 | 223 | 783 | 557 | ||||
Net Income (Loss) Allocated to Predecessor Equity | 0 | 133 | 0 | (37) | ||||
Net Income (Loss) Attributable to Redeemable Noncontrolling Interest | 12 | 0 | 38 | 0 | ||||
Net income attributable to partners | 951 | 1,135 | 2,965 | 2,282 | ||||
Other comprehensive income, net of tax | (7) | $ 1 | $ 8 | 4 | $ 2 | $ 1 | 2 | 7 |
Comprehensive income | 1,217 | 1,495 | 3,788 | 2,809 | ||||
Less: Comprehensive income attributable to noncontrolling interests | 261 | 223 | 783 | 557 | ||||
Other Comprehensive Income, Portion Attributable to Redeemable Noncontrolling Interest | 12 | 0 | 38 | 0 | ||||
Comprehensive Income Attributable to Predecessor Equity | 0 | 133 | 0 | (37) | ||||
Comprehensive income attributable to partners | 944 | 1,139 | 2,967 | 2,289 | ||||
Parent Guarantor [Member] | ||||||||
Revenues | 0 | 0 | 0 | 0 | ||||
Costs and Expenses | 0 | 0 | 0 | 0 | ||||
OPERATING INCOME | 0 | 0 | 0 | 0 | ||||
Interest Expense | (412) | (303) | (1,190) | (870) | ||||
Equity in earnings of unconsolidated affiliates | 1,443 | 1,394 | 4,292 | 3,036 | ||||
Gain (Loss) on Extinguishment of Debt | 0 | 0 | ||||||
Gains (losses) on interest rate derivatives | 45 | (371) | 117 | |||||
Deconsolidation, Gain (Loss), Amount | (175) | |||||||
Other Nonoperating Income (Expense) | 93 | 0 | 233 | 0 | ||||
Income (Loss) Attributable to Parent, before Tax | 949 | 1,136 | 2,964 | 2,283 | ||||
Income tax expense (benefit) from continuing operations | 0 | 0 | 0 | 0 | ||||
Income (Loss) from Continuing Operations, Net of Tax, Attributable to Parent | 1,136 | 2,283 | ||||||
LOSS FROM DISCONTINUED OPERATIONS, NET OF INCOME TAXES | 0 | 0 | ||||||
Net income | 949 | 1,136 | 2,964 | 2,283 | ||||
Less: Net income attributable to noncontrolling interests | 0 | 0 | 0 | 0 | ||||
Net Income (Loss) Allocated to Predecessor Equity | 0 | |||||||
Net Income (Loss) Attributable to Redeemable Noncontrolling Interest | 0 | 0 | ||||||
Net income attributable to partners | 949 | 1,136 | 2,964 | 2,283 | ||||
Other comprehensive income, net of tax | 0 | 0 | 0 | 0 | ||||
Comprehensive income | 949 | 1,136 | 2,964 | 2,283 | ||||
Less: Comprehensive income attributable to noncontrolling interests | 0 | 0 | 0 | 0 | ||||
Other Comprehensive Income, Portion Attributable to Redeemable Noncontrolling Interest | 0 | |||||||
Comprehensive Income Attributable to Predecessor Equity | 0 | |||||||
Comprehensive income attributable to partners | 949 | 1,136 | 2,964 | 2,283 | ||||
Subsidiary Issuer [Member] | ||||||||
Revenues | 0 | 0 | 0 | 0 | ||||
Costs and Expenses | 0 | 0 | 0 | 0 | ||||
OPERATING INCOME | 0 | 0 | 0 | 0 | ||||
Interest Expense | (151) | (55) | (280) | (137) | ||||
Equity in earnings of unconsolidated affiliates | 519 | 501 | 1,638 | 827 | ||||
Gain (Loss) on Extinguishment of Debt | 0 | 0 | ||||||
Gains (losses) on interest rate derivatives | 0 | 0 | 0 | |||||
Deconsolidation, Gain (Loss), Amount | 0 | |||||||
Other Nonoperating Income (Expense) | 3 | 0 | 3 | 0 | ||||
Income (Loss) Attributable to Parent, before Tax | 371 | 446 | 1,361 | 690 | ||||
Income tax expense (benefit) from continuing operations | 0 | 0 | 0 | 0 | ||||
Income (Loss) from Continuing Operations, Net of Tax, Attributable to Parent | 446 | 690 | ||||||
LOSS FROM DISCONTINUED OPERATIONS, NET OF INCOME TAXES | 0 | 0 | ||||||
Net income | 371 | 446 | 1,361 | 690 | ||||
Less: Net income attributable to noncontrolling interests | 0 | 0 | 0 | 0 | ||||
Net Income (Loss) Allocated to Predecessor Equity | 0 | |||||||
Net Income (Loss) Attributable to Redeemable Noncontrolling Interest | 0 | 0 | ||||||
Net income attributable to partners | 371 | 446 | 1,361 | 690 | ||||
Other comprehensive income, net of tax | 0 | 0 | 0 | 0 | ||||
Comprehensive income | 371 | 446 | 1,361 | 690 | ||||
Less: Comprehensive income attributable to noncontrolling interests | 0 | 0 | 0 | 0 | ||||
Other Comprehensive Income, Portion Attributable to Redeemable Noncontrolling Interest | 0 | |||||||
Comprehensive Income Attributable to Predecessor Equity | 0 | |||||||
Comprehensive income attributable to partners | 371 | 446 | 1,361 | 690 | ||||
Non-Guarantor Subsidiaries [Member] | ||||||||
Revenues | 13,495 | 14,514 | 40,493 | 40,514 | ||||
Costs and Expenses | 11,661 | 12,799 | 34,904 | 36,556 | ||||
OPERATING INCOME | 1,834 | 1,715 | 5,589 | 3,958 | ||||
Interest Expense | (12) | (88) | (210) | (239) | ||||
Equity in earnings of unconsolidated affiliates | 82 | 87 | 224 | 258 | ||||
Gain (Loss) on Extinguishment of Debt | (2) | (109) | ||||||
Gains (losses) on interest rate derivatives | 0 | 0 | 0 | |||||
Deconsolidation, Gain (Loss), Amount | 0 | |||||||
Other Nonoperating Income (Expense) | 17 | 40 | 6 | 96 | ||||
Income (Loss) Attributable to Parent, before Tax | 1,921 | 1,754 | 5,607 | 3,964 | ||||
Income tax expense (benefit) from continuing operations | 55 | (52) | 216 | 7 | ||||
Income (Loss) from Continuing Operations, Net of Tax, Attributable to Parent | 1,806 | 3,957 | ||||||
LOSS FROM DISCONTINUED OPERATIONS, NET OF INCOME TAXES | (2) | (265) | ||||||
Net income | 1,866 | 1,804 | 5,391 | 3,692 | ||||
Less: Net income attributable to noncontrolling interests | 261 | 223 | 783 | 557 | ||||
Net Income (Loss) Allocated to Predecessor Equity | 133 | (37) | ||||||
Net Income (Loss) Attributable to Redeemable Noncontrolling Interest | 12 | 38 | ||||||
Net income attributable to partners | 1,593 | 1,448 | 4,570 | 3,172 | ||||
Other comprehensive income, net of tax | (7) | 4 | 2 | 7 | ||||
Comprehensive income | 1,859 | 1,808 | 5,393 | 3,699 | ||||
Less: Comprehensive income attributable to noncontrolling interests | 261 | 223 | 783 | 557 | ||||
Other Comprehensive Income, Portion Attributable to Redeemable Noncontrolling Interest | 12 | 38 | ||||||
Comprehensive Income Attributable to Predecessor Equity | 133 | (37) | ||||||
Comprehensive income attributable to partners | 1,586 | 1,452 | 4,572 | 3,179 | ||||
Adjustments And Eliminations [Member] | ||||||||
Revenues | 0 | 0 | 0 | 0 | ||||
Costs and Expenses | 0 | 0 | 0 | 0 | ||||
OPERATING INCOME | 0 | 0 | 0 | 0 | ||||
Interest Expense | 0 | 0 | 0 | 0 | ||||
Equity in earnings of unconsolidated affiliates | (1,962) | (1,895) | (5,930) | (3,863) | ||||
Gain (Loss) on Extinguishment of Debt | 0 | 0 | ||||||
Gains (losses) on interest rate derivatives | 0 | 0 | 0 | |||||
Deconsolidation, Gain (Loss), Amount | 0 | |||||||
Other Nonoperating Income (Expense) | 0 | 0 | 0 | 0 | ||||
Income (Loss) Attributable to Parent, before Tax | (1,962) | (1,895) | (5,930) | (3,863) | ||||
Income tax expense (benefit) from continuing operations | 0 | 0 | 0 | 0 | ||||
Income (Loss) from Continuing Operations, Net of Tax, Attributable to Parent | (1,895) | (3,863) | ||||||
LOSS FROM DISCONTINUED OPERATIONS, NET OF INCOME TAXES | 0 | 0 | ||||||
Net income | (1,962) | (1,895) | (5,930) | (3,863) | ||||
Less: Net income attributable to noncontrolling interests | 0 | 0 | 0 | 0 | ||||
Net Income (Loss) Allocated to Predecessor Equity | 0 | |||||||
Net Income (Loss) Attributable to Redeemable Noncontrolling Interest | 0 | 0 | ||||||
Net income attributable to partners | (1,962) | (1,895) | (5,930) | (3,863) | ||||
Other comprehensive income, net of tax | 0 | 0 | 0 | 0 | ||||
Comprehensive income | (1,962) | (1,895) | (5,930) | (3,863) | ||||
Less: Comprehensive income attributable to noncontrolling interests | 0 | 0 | 0 | 0 | ||||
Other Comprehensive Income, Portion Attributable to Redeemable Noncontrolling Interest | 0 | |||||||
Comprehensive Income Attributable to Predecessor Equity | 0 | |||||||
Comprehensive income attributable to partners | $ (1,962) | $ (1,895) | $ (5,930) | $ (3,863) |
Guarantor Financial Informati_5
Guarantor Financial Information Cash Flows (Details) - USD ($) $ in Millions | 9 Months Ended | |||
Sep. 30, 2019 | Sep. 30, 2018 | Dec. 31, 2018 | Dec. 31, 2017 | |
Net Cash Provided by (Used in) Operating Activities | $ 6,062 | $ 5,510 | ||
Net Cash Provided by (Used in) Investing Activities | (4,423) | (4,513) | ||
Net Cash Provided by (Used in) Financing Activities | (1,850) | (3,673) | ||
Net Cash Provided by (Used in) Discontinued Operations | 0 | 2,738 | ||
Cash and Cash Equivalents, Period Increase (Decrease) | (211) | 62 | ||
Cash and Cash Equivalents, at Carrying Value | 207 | 397 | $ 418 | $ 335 |
Parent Guarantor [Member] | ||||
Net Cash Provided by (Used in) Operating Activities | 1,854 | 2,753 | ||
Net Cash Provided by (Used in) Investing Activities | (482) | (834) | ||
Net Cash Provided by (Used in) Financing Activities | (1,372) | (1,919) | ||
Net Cash Provided by (Used in) Discontinued Operations | ||||
Cash and Cash Equivalents, Period Increase (Decrease) | 0 | 0 | ||
Cash and Cash Equivalents, at Carrying Value | 0 | 0 | 0 | 0 |
Subsidiary Issuer [Member] | ||||
Net Cash Provided by (Used in) Operating Activities | 2,620 | 579 | ||
Net Cash Provided by (Used in) Investing Activities | (2,620) | (579) | ||
Net Cash Provided by (Used in) Financing Activities | 0 | 0 | ||
Net Cash Provided by (Used in) Discontinued Operations | ||||
Cash and Cash Equivalents, Period Increase (Decrease) | 0 | 0 | ||
Cash and Cash Equivalents, at Carrying Value | 0 | 0 | 0 | 0 |
Non-Guarantor Subsidiaries [Member] | ||||
Net Cash Provided by (Used in) Operating Activities | 4,613 | 4,256 | ||
Net Cash Provided by (Used in) Investing Activities | (4,346) | (5,178) | ||
Net Cash Provided by (Used in) Financing Activities | (478) | (1,754) | ||
Net Cash Provided by (Used in) Discontinued Operations | 2,738 | |||
Cash and Cash Equivalents, Period Increase (Decrease) | (211) | 62 | ||
Cash and Cash Equivalents, at Carrying Value | 207 | 397 | 418 | 335 |
Adjustments And Eliminations [Member] | ||||
Net Cash Provided by (Used in) Operating Activities | (3,025) | (2,078) | ||
Net Cash Provided by (Used in) Investing Activities | 3,025 | 2,078 | ||
Net Cash Provided by (Used in) Financing Activities | 0 | 0 | ||
Net Cash Provided by (Used in) Discontinued Operations | ||||
Cash and Cash Equivalents, Period Increase (Decrease) | 0 | 0 | ||
Cash and Cash Equivalents, at Carrying Value | $ 0 | $ 0 | $ 0 | $ 0 |