Cover Page
Cover Page $ in Millions | 12 Months Ended |
Dec. 31, 2019USD ($)shares | |
Document Information [Line Items] | |
Document Type | 10-K |
Document Annual Report | true |
Document Period End Date | Dec. 31, 2019 |
Document Transition Report | false |
Entity File Number | 1-31219 |
Entity Registrant Name | ENERGY TRANSFER OPERATING, L.P. |
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 Well-known Seasoned Issuer | Yes |
Entity Voluntary Filers | No |
Entity Current Reporting Status | Yes |
Entity Interactive Data Current | Yes |
Entity Filer Category | Non-accelerated Filer |
Entity Small Business | false |
Entity Emerging Growth Company | false |
Entity Shell Company | false |
Entity Common Stock, Shares Outstanding | shares | 0 |
Entity Public Float | $ | $ 0 |
Documents Incorporated by Reference | None |
Amendment Flag | false |
Entity Central Index Key | 0001161154 |
Current Fiscal Year End Date | --12-31 |
Document Fiscal Period Focus | FY |
Document Fiscal Year Focus | 2019 |
7.375% Series C Fixed-to-Floating Rate Cumulative Redeemable Perpetual Preferred Units | |
Document 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 |
7.625% Series D Fixed-to-Floating Rate Cumulative Redeemable Perpetual Preferred Units | |
Document 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 |
7.600% Series E Fixed-to-Floating Rate Cumulative Redeemable Perpetual Preferred Units | |
Document 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 |
7.500% Senior Notes due 2020 | |
Document Information [Line Items] | |
Title of 12(b) Security | 7.500% Senior Notes due 2020 |
Trading Symbol | ETP 20 |
Security Exchange Name | NYSE |
4.250% Senior Notes due 2023 | |
Document 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 2024 | |
Document Information [Line Items] | |
Title of 12(b) Security | 5.875% Senior Notes due 2024 |
Trading Symbol | ETP 24 |
Security Exchange Name | NYSE |
5.500% Senior Notes due 2027 | |
Document 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 | Dec. 31, 2019 | Dec. 31, 2018 |
Lease, Right of Use Asset, Net | $ 877 | |
Operating Lease, Right-of-Use Asset | 1,000 | $ 0 |
Current assets: | ||
Cash and cash equivalents | 253 | 418 |
Accounts receivable, net | 4,439 | 4,009 |
Accounts receivable from related companies | 175 | 176 |
Inventories | 1,847 | 1,677 |
Income taxes receivable | 141 | 73 |
Derivative assets | 23 | 111 |
Other current assets | 282 | 356 |
Total current assets | 7,160 | 6,820 |
Property, plant and equipment | 85,359 | 79,280 |
Accumulated depreciation and depletion | (15,388) | (12,625) |
PROPERTY, PLANT AND EQUIPMENT, net | 69,971 | 66,655 |
Advances to and investments in unconsolidated affiliates | 3,018 | 2,636 |
Other non-current assets, net | 976 | 1,006 |
Long-term affiliate receivable | 5,926 | 440 |
Intangible assets, net | 5,695 | 6,000 |
Goodwill | 4,902 | 4,885 |
Total assets | 98,525 | 88,442 |
Current liabilities: | ||
Accounts payable | 3,625 | 3,491 |
Accounts payable to related companies | 27 | 119 |
Derivative liabilities | 147 | 185 |
Operating lease current liabilities | 54 | 0 |
Accrued and other current liabilities | 3,216 | 2,847 |
Current maturities of long-term debt | 12 | 2,655 |
Total current liabilities | 7,081 | 9,297 |
Long-term debt, less current maturities | 50,334 | 37,853 |
Non-current derivative liabilities | 273 | 104 |
Non-current operating lease liabilities | 816 | 0 |
Deferred income taxes | 3,113 | 2,884 |
Other non-current liabilities | 1,109 | 1,184 |
Commitments and contingencies | ||
Redeemable noncontrolling interests | 492 | 499 |
Limited Partners: | ||
Common Unitholders and Other | 24,133 | 26,372 |
Accumulated other comprehensive loss | (18) | (42) |
Total partners’ capital | 27,289 | 28,718 |
Noncontrolling interests | 8,018 | 7,903 |
Total equity | 35,307 | 36,621 |
Total liabilities and equity | 98,525 | 88,442 |
Series A Preferred Units [Member] | ||
Equity: | ||
Preferred Units | 958 | 958 |
Series B Preferred Units [Member] | ||
Equity: | ||
Preferred Units | 556 | 556 |
Series C Preferred Units | ||
Equity: | ||
Preferred Units | 440 | 440 |
Series D Preferred Units | ||
Equity: | ||
Preferred Units | 434 | 434 |
Series E Preferred Units [Member] | ||
Equity: | ||
Preferred Units | $ 786 | $ 0 |
CONSOLIDATED BALANCE SHEETS (Pa
CONSOLIDATED BALANCE SHEETS (Parenthetical) - shares | Dec. 31, 2019 | Dec. 31, 2018 |
Series A Preferred Units [Member] | ||
Preferred Units, Authorized | 950,000 | 950,000 |
Preferred Units, Issued | 950,000 | 950,000 |
Preferred Units, Outstanding | 950,000 | 950,000 |
Series B Preferred Units [Member] | ||
Preferred Units, Authorized | 550,000 | 550,000 |
Preferred Units, Issued | 550,000 | 550,000 |
Preferred Units, Outstanding | 550,000 | 550,000 |
Series C Preferred Units | ||
Preferred Units, Authorized | 18,000,000 | 18,000,000 |
Preferred Units, Issued | 18,000,000 | 18,000,000 |
Preferred Units, Outstanding | 18,000,000 | 18,000,000 |
Series D Preferred Units | ||
Preferred Units, Authorized | 17,800,000 | 17,800,000 |
Preferred Units, Issued | 17,800,000 | 17,800,000 |
Preferred Units, Outstanding | 17,800,000 | 17,800,000 |
Series E Preferred Units [Member] | ||
Preferred Units, Authorized | 32,000,000 | 0 |
Preferred Units, Issued | 32,000,000 | 0 |
Preferred Units, Outstanding | 32,000,000 | 0 |
CONSOLIDATED STATEMENTS OF OPER
CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
REVENUES: | |||
Total revenues | $ 54,032 | $ 54,087 | $ 40,523 |
COSTS AND EXPENSES: | |||
Cost of products sold | 39,603 | 41,658 | 30,966 |
Operating expenses | 3,267 | 3,089 | 2,644 |
Depreciation, depletion and amortization | 3,124 | 2,843 | 2,541 |
Selling, general and administrative | 679 | 664 | 568 |
Impairment losses | 74 | 431 | 1,039 |
Total costs and expenses | 46,747 | 48,685 | 37,758 |
OPERATING INCOME | 7,285 | 5,402 | 2,765 |
OTHER INCOME (EXPENSE): | |||
Interest expense, net of interest capitalized | (2,257) | (1,709) | (1,575) |
Equity in earnings of unconsolidated affiliates | 298 | 344 | 144 |
Impairment of investments in unconsolidated affiliates | 0 | 0 | (313) |
Losses on extinguishments of debt | (2) | (109) | (42) |
Gains (losses) on interest rate derivatives | (241) | 47 | (37) |
Other, net | 303 | 69 | 206 |
INCOME FROM CONTINUING OPERATIONS BEFORE INCOME TAX EXPENSE (BENEFIT) | 5,386 | 4,044 | 1,148 |
Income tax expense (benefit) from continuing operations | 200 | 5 | (1,804) |
INCOME FROM CONTINUING OPERATIONS | 5,186 | 4,039 | 2,952 |
Loss from discontinued operations, net of income taxes | 0 | (265) | (177) |
NET INCOME | 5,186 | 3,774 | 2,775 |
Less: Net income attributable to noncontrolling interests | 1,051 | 715 | 420 |
Less: Net income attributable to redeemable noncontrolling interests | 51 | 39 | 0 |
Less: Net income (loss) attributable to predecessor | 0 | (5) | 274 |
NET INCOME ATTRIBUTABLE TO PARTNERS | $ 4,084 | $ 3,025 | $ 2,081 |
CONSOLIDATED STATEMENTS OF COMP
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Net income | $ 5,186 | $ 3,774 | $ 2,775 |
Other comprehensive income (loss), net of tax: | |||
Change in value of available-for-sale securities | 11 | (4) | 6 |
Actuarial gain (loss) relating to pension and other postretirement benefits | 23 | (43) | (12) |
Change in other comprehensive income from unconsolidated affiliates | (10) | 4 | 1 |
Total other comprehensive income | 24 | (43) | (5) |
Comprehensive income | 5,210 | 3,731 | 2,770 |
Less: Comprehensive income attributable to noncontrolling interests | 1,051 | 715 | 420 |
Less: Comprehensive income attributable to redeemable noncontrolling interests | 51 | 39 | 0 |
Less: Comprehensive income (loss) attributable to predecessor | 0 | (5) | 274 |
Comprehensive income attributable to partners | $ 4,108 | $ 2,982 | $ 2,076 |
CONSOLIDATED STATEMENT OF EQUIT
CONSOLIDATED STATEMENT OF EQUITY - USD ($) $ in Millions | Total | General Partner | AOCI Attributable to Parent [Member] | Noncontrolling Interest [Member] | Predecessor Equity [Member] | Preferred Units [Member] | Common Unitholders and Other [Member] | Bakken Pipeline [Member] | Bakken Pipeline [Member]General Partner | Bakken Pipeline [Member]AOCI Attributable to Parent [Member] | Bakken Pipeline [Member]Noncontrolling Interest [Member] | Bakken Pipeline [Member]Predecessor Equity [Member] | Bakken Pipeline [Member]Preferred Units [Member] | Bakken Pipeline [Member]Common Unitholders and Other [Member] | Rover Pipeline Sale [Member] | Rover Pipeline Sale [Member]General Partner | Rover Pipeline Sale [Member]AOCI Attributable to Parent [Member] | Rover Pipeline Sale [Member]Noncontrolling Interest [Member] | Rover Pipeline Sale [Member]Predecessor Equity [Member] | Rover Pipeline Sale [Member]Preferred Units [Member] | Rover Pipeline Sale [Member]Common Unitholders and Other [Member] |
Balance at Dec. 31, 2016 | $ 28,938 | $ 206 | $ 8 | $ 7,820 | $ 2,497 | $ 0 | $ 18,407 | ||||||||||||||
Increase (Decrease) in Unitholders' Equity | |||||||||||||||||||||
Distributions to partners | (3,468) | (952) | 0 | 0 | 0 | 0 | (2,516) | ||||||||||||||
Noncontrolling Interest, Decrease from Distributions to Noncontrolling Interest Holders | 714 | 0 | 0 | 430 | 284 | 0 | 0 | ||||||||||||||
Distributions to noncontrolling interest | (430) | ||||||||||||||||||||
Partnership units issued for cash | 3,762 | 0 | 0 | 0 | 0 | 1,479 | 2,283 | ||||||||||||||
Capital contributions from noncontrolling interest | 2,202 | 0 | 0 | 2,202 | 0 | 0 | 0 | ||||||||||||||
Sale of noncontrolling interest in subsidiary | $ 2,000 | $ 0 | $ 0 | $ 740 | $ 0 | $ 0 | $ 1,260 | $ 1,478 | $ 0 | $ 0 | $ 1,385 | $ 0 | $ 0 | $ 93 | |||||||
Partners Capital Account, Acquisitions | 0 | 0 | 0 | (5,938) | 0 | 0 | 5,938 | ||||||||||||||
Subsidiary units issued for cash | (333) | 0 | 0 | 0 | (333) | 0 | 0 | ||||||||||||||
Subsidiary units repurchased | (280) | 0 | 0 | (232) | 0 | 0 | (48) | ||||||||||||||
Other comprehensive loss, net of tax | (5) | 0 | (5) | 0 | 0 | 0 | 0 | ||||||||||||||
Other, net | (54) | 0 | 0 | (85) | (4) | 0 | 35 | ||||||||||||||
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest, Excluding Portion Attributable to Redeemable Noncontrolling Interest | 12 | ||||||||||||||||||||
Net income | 2,775 | 990 | 0 | 420 | 274 | 12 | 1,079 | ||||||||||||||
Balance at Dec. 31, 2017 | 36,967 | 244 | 3 | 5,882 | 2,816 | 1,491 | 26,531 | ||||||||||||||
Increase (Decrease) in Unitholders' Equity | |||||||||||||||||||||
Cumulative Effect of New Accounting Principle in Period of Adoption | (54) | 0 | 0 | 0 | (54) | 0 | 0 | ||||||||||||||
Distributions to partners | (4,556) | (1,080) | 0 | 0 | 0 | (100) | (3,376) | ||||||||||||||
Noncontrolling Interest, Decrease from Distributions to Noncontrolling Interest Holders | 1,167 | 0 | 0 | 891 | 276 | 0 | 0 | ||||||||||||||
Distributions to noncontrolling interest | (891) | ||||||||||||||||||||
Partnership units issued for cash | 925 | 0 | 0 | 0 | 0 | 867 | 58 | ||||||||||||||
Capital contributions from noncontrolling interest | 649 | 0 | 0 | 649 | 0 | 0 | 0 | ||||||||||||||
Deemed Distribution | (402) | 0 | 0 | 58 | (497) | 0 | 37 | ||||||||||||||
Partners Capital Account, Acquisitions | 0 | (340) | 0 | 1,474 | (2,504) | 0 | 1,370 | ||||||||||||||
Subsidiary units repurchased | 300 | 0 | 0 | 0 | 300 | 0 | 0 | ||||||||||||||
Noncontrolling Interest, Increase from Business Combination | 832 | 0 | 0 | 0 | 832 | 0 | 0 | ||||||||||||||
Other comprehensive loss, net of tax | (43) | 0 | (43) | 0 | 0 | 0 | 0 | ||||||||||||||
Other, net | 35 | (17) | (2) | 16 | (12) | (3) | 53 | ||||||||||||||
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest, Excluding Portion Attributable to Redeemable Noncontrolling Interest | 3,735 | 1,193 | 0 | 715 | (5) | 133 | 1,699 | ||||||||||||||
Net income | 3,774 | ||||||||||||||||||||
Balance at Dec. 31, 2018 | 36,621 | 0 | (42) | 7,903 | 0 | 2,388 | 26,372 | ||||||||||||||
Increase (Decrease) in Unitholders' Equity | |||||||||||||||||||||
Distributions to partners | (6,284) | 0 | 0 | 0 | 0 | (197) | (6,087) | ||||||||||||||
Noncontrolling Interest, Decrease from Distributions to Noncontrolling Interest Holders | 1,399 | 0 | 0 | 1,399 | 0 | 0 | 0 | ||||||||||||||
Distributions to noncontrolling interest | (1,399) | ||||||||||||||||||||
Partnership units issued for cash | 780 | 0 | 0 | 0 | 0 | 780 | 0 | ||||||||||||||
Capital contributions from noncontrolling interest | 348 | 0 | 0 | 348 | 0 | 0 | 0 | ||||||||||||||
Sale of noncontrolling interest in subsidiary | 93 | 0 | 0 | 93 | 0 | 0 | 0 | ||||||||||||||
Other comprehensive loss, net of tax | 24 | 0 | 24 | 0 | 0 | 0 | 0 | ||||||||||||||
Other, net | (11) | 0 | 0 | 22 | 0 | (1) | (32) | ||||||||||||||
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest, Excluding Portion Attributable to Redeemable Noncontrolling Interest | 5,135 | 0 | 0 | 1,051 | 0 | 204 | 3,880 | ||||||||||||||
Net income | 5,186 | ||||||||||||||||||||
Balance at Dec. 31, 2019 | $ 35,307 | $ 0 | $ (18) | $ 8,018 | $ 0 | $ 3,174 | $ 24,133 |
CONSOLIDATED STATEMENTS OF CASH
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
CASH FLOWS FROM OPERATING ACTIVITIES: | |||
Net income | $ 5,186 | $ 3,774 | $ 2,775 |
Reconciliation of net income to net cash provided by operating activities: | |||
Loss from discontinued operations | 0 | 265 | 177 |
Depreciation, depletion and amortization | 3,124 | 2,843 | 2,541 |
Deferred income taxes | 221 | (8) | (1,841) |
Inventory valuation adjustments | (79) | 85 | (24) |
Non-cash compensation expense | 111 | 105 | 99 |
Impairment losses | 74 | 431 | 1,039 |
Losses on extinguishment of debt | 2 | 109 | 42 |
Impairment of investments in unconsolidated affiliates | 0 | 0 | 313 |
Distributions on unvested awards | (9) | (33) | (35) |
Equity in earnings of unconsolidated affiliates | (298) | (344) | (144) |
Distributions from unconsolidated affiliates | 285 | 328 | 297 |
Other non-cash | 113 | (113) | (249) |
Net change in operating assets and liabilities, net of effects of acquisitions | (479) | 117 | (173) |
Net cash provided by operating activities | 8,251 | 7,559 | 4,817 |
INVESTING ACTIVITIES: | |||
Cash received for sale of noncontrolling interest | 93 | 0 | 0 |
Cash paid for all other acquisitions | (7) | (429) | (303) |
Capital expenditures, excluding allowance for equity funds used during construction | (5,936) | (7,407) | (8,444) |
Contributions in aid of construction costs | 80 | 109 | 24 |
Contributions to unconsolidated affiliates | (523) | (26) | (268) |
Distributions from unconsolidated affiliates in excess of cumulative earnings | 98 | 69 | 135 |
Proceeds from the sale of assets | 54 | 87 | 45 |
Other | 18 | (16) | 1 |
Net cash used in investing activities | (6,123) | (6,902) | (5,612) |
FINANCING ACTIVITIES: | |||
Proceeds from borrowings | 22,583 | 28,538 | 29,389 |
Repayments of debt | (16,874) | (27,297) | (29,387) |
Repayments of notes payable to related party | (1,328) | (440) | (423) |
Common units issued for cash | 0 | 58 | 2,283 |
Preferred units issued for cash | 780 | 867 | 1,479 |
Cash Inflow from Redeemable Noncontrolling Interest | 0 | 465 | 0 |
Predecessor units issued for cash | 0 | 0 | 333 |
Capital contributions from noncontrolling interests | 348 | 649 | 1,214 |
Distributions to partners | 6,284 | 4,556 | 3,468 |
Predecessor distributions to partners | 0 | (276) | (284) |
Distributions to noncontrolling interest | (1,399) | (891) | (430) |
Distributions to redeemable noncontrolling interests | 0 | (24) | 0 |
Payments for Repurchase of Common Stock | 0 | (24) | 0 |
Redemption of Legacy ETP Preferred Units | 0 | 0 | (53) |
Debt issuance costs | (117) | (162) | (83) |
Other | (2) | 85 | 2 |
Net cash provided by (used in) financing activities | (2,293) | (3,308) | 572 |
DISCONTINUED OPERATIONS: | |||
Operating activities | 0 | (484) | 136 |
Investing activities | 0 | 3,207 | (38) |
Changes in cash included in current assets held for sale | 0 | 11 | (5) |
Net increase in cash and cash equivalents of discontinued operations | 0 | 2,734 | 93 |
Increase (decrease) in cash and cash equivalents | (165) | 83 | (130) |
Cash and cash equivalents, beginning of period | 418 | 335 | 465 |
Cash and cash equivalents, end of period | 253 | 418 | 335 |
CDM Distribution and USAC Acquisition [Member] | |||
INVESTING ACTIVITIES: | |||
Proceeds from Divestiture of Interest in Joint Venture | 0 | 711 | 0 |
Bakken Pipeline [Member] | |||
INVESTING ACTIVITIES: | |||
Proceeds from Divestiture of Interest in Joint Venture | 0 | 0 | 2,000 |
Rover Pipeline LLC [Member] | |||
INVESTING ACTIVITIES: | |||
Proceeds from Divestiture of Interest in Joint Venture | 0 | 0 | 1,478 |
PennTex [Member] | |||
INVESTING ACTIVITIES: | |||
Cash paid for all other acquisitions | 0 | 0 | 280 |
Sunoco LP [Member] | |||
Reconciliation of net income to net cash provided by operating activities: | |||
Impairment losses | 47 | ||
FINANCING ACTIVITIES: | |||
Payments for Repurchase of Common Stock | $ 0 | $ (300) | $ 0 |
Operations and Organization (No
Operations and Organization (Notes) | 12 Months Ended |
Dec. 31, 2019 | |
Operations And Organization [Abstract] | |
OPERATIONS AND ORGANIZATION | OPERATIONS AND BASIS OF PRESENTATION: The consolidated financial statements presented herein contain the results of Energy Transfer Operating, L.P. and its subsidiaries (the “Partnership,” “we,” “us,” “our” or “ETO”). ETO 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, the former common unitholders (other than ET and its subsidiaries) received 1.28 common units of ET for each common unit of ETO they owned. 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; and • 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. The Energy Transfer Merger was a combination of entities under common control; therefore, Sunoco LP, Lake Charles LNG and USAC’s (see Note 3 for more information) assets and liabilities were not adjusted. The Partnership’s consolidated financial statements have been retrospectively adjusted to reflect consolidation beginning January 1, 2017 of Sunoco LP and Lake Charles LNG and April 2, 2018 of USAC (the date ET acquired USAC, see Note 3 ). Predecessor equity included on the consolidated financial statements represents Sunoco LP, Lake Charles LNG and USAC’s equity prior to the Energy Transfer Merger. Following the closing of the Energy Transfer Merger, Energy Transfer Equity, L.P. changed its name to “Energy Transfer LP” and its common units began trading on the New York Stock Exchange under the “ET” ticker symbol on Friday, October 19, 2018. In addition, Energy Transfer Partners, L.P. changed its name to “Energy Transfer Operating, L.P.” For purposes of maintaining clarity, the following references are used herein: • References to “ETO” refer to the entity named Energy Transfer Partners, L.P. prior to the close of the Energy Transfer Merger and Energy Transfer Operating, L.P. subsequent to the close of the Energy Transfer Merger; and • References to “ET” refer to the entity named Energy Transfer Equity, L.P. prior to the close of the Energy Transfer Merger and Energy Transfer LP subsequent to the close of the Energy Transfer Merger. In April 2017, Energy Transfer Partners, L.P. and Sunoco Logistics completed the previously announced merger transaction in which Sunoco Logistics acquired Energy Transfer Partners, L.P. in a unit-for-unit transaction (the “Sunoco Logistics Merger”). Under the terms of the transaction, Energy Transfer Partners, L.P. unitholders received 1.5 common units of Sunoco Logistics for each common unit of Energy Transfer Partners, L.P. they owned. Under the terms of the merger agreement, Sunoco Logistics’ general partner was merged with and into ETP GP, with ETP GP surviving as an indirect wholly-owned subsidiary of ET. In connection with the merger, the Energy Transfer Partners, L.P. Class H units were cancelled. The outstanding Energy Transfer Partners, L.P. Class E units, Class G units, Class I units and Class K units at the effective time of the merger were converted into an equal number of newly created classes of Sunoco Logistics units, with the same rights, preferences, privileges, duties and obligations as such classes of Energy Transfer Partners, L.P. units had immediately prior to the closing of the merger. Additionally, the outstanding Sunoco Logistics common units and Sunoco Logistics Class B units owned by Energy Transfer Partners, L.P. at the effective time of the merger were cancelled. In connection with the Sunoco Logistics Merger, Sunoco Logistics Partners L.P. changed its name to “Energy Transfer Partners, L.P.” For purposes of maintaining clarity, the following references are used herein: • References to “Sunoco Logistics” refer to the entity named Sunoco Logistics Partners L.P. and its subsidiaries prior to the close of the Sunoco Logistics Merger; and • References to “ETO” for periods prior to the Sunoco Logistics Merger refer to the consolidated entity named Energy Transfer Partners, L.P. and its subsidiaries prior to the close of the Sunoco Logistics Merger. The Sunoco Logistics Merger resulted in Energy Transfer Partners, L.P. being treated as the surviving consolidated entity from an accounting perspective, while Sunoco Logistics (prior to changing its name to “Energy Transfer Partners, L.P.”) was the surviving consolidated entity from a legal and reporting perspective. Therefore, for the pre-merger periods, the consolidated financial statements reflect the consolidated financial statements of the legal acquiree (i.e., the entity that was named “Energy Transfer Partners, L.P.” prior to the merger and name changes). The Sunoco Logistics Merger was accounted for as an equity transaction. The Sunoco Logistics Merger did not result in any changes to the carrying values of assets and liabilities in the consolidated financial statements, and no gain or loss was recognized. For the periods prior to the Sunoco Logistics Merger, the Sunoco Logistics limited partner interests that were owned by third parties (other than Energy Transfer Partners, L.P. or its consolidated subsidiaries) are presented as noncontrolling interests in these consolidated financial statements. The historical common units amount presented in these consolidated financial statements have been retrospectively adjusted to reflect the 1.5 to one unit-for-unit exchange in connection with the Sunoco Logistics Merger. The Partnership is engaged in the gathering and processing, compression, treating and transportation of natural gas, focusing on providing midstream services in some of the most prolific natural gas producing regions in the United States, including the Eagle Ford, Haynesville, Barnett, Fayetteville, Marcellus, Utica, Bone Spring and Avalon shales. The Partnership owns and operates intrastate natural gas pipeline systems and storage facilities that are engaged in the business of purchasing, gathering, transporting, processing, and marketing natural gas and NGLs in the states of Texas, Louisiana, New Mexico and West Virginia. The Partnership owns and operates interstate pipelines, either directly or through equity method investments, that transport natural gas to various markets in the United States. The Partnership owns and operates a logistics business, consisting of a geographically diverse portfolio of complementary pipeline, terminalling, and acquisition and marketing assets, which are used to facilitate the purchase and sale of crude oil, NGLs and refined products. The Partnership owns a controlling interest in Sunoco LP which is engaged in the wholesale distribution of motor fuels to convenience stores, independent dealers, commercial customers, and distributors, as well as the retail sale of motor fuels and merchandise through Sunoco LP operated convenience stores and retail fuel sites. As of December 31, 2019 , our interest in Sunoco LP consisted of 100% of the general partner and IDRs, as well as 28.5 million common units. The Partnership owns a controlling interest in USAC which provides compression services to producers, processors, gatherers and transporters of natural gas and crude oil. As of December 31, 2019 , our interest in USAC consisted of 100% o f the general partner and 46.1 million common units. Basis of Presentation. The consolidated financial statements of the Partnership have been prepared in accordance with GAAP and include the accounts of all controlled subsidiaries after the elimination of all intercompany accounts and transactions. Certain prior year amounts have been conformed to the current year presentation. These reclassifications had no impact on net income or total equity. Management evaluated subsequent events through the date the financial statements were issued. The consolidated financial statements of the Partnership presented herein include the results of operations of our controlled subsidiaries, including Sunoco LP and USAC. |
Estimates, Significant Accounti
Estimates, Significant Accounting Policies and Balance Sheet Detials (Notes) | 12 Months Ended |
Dec. 31, 2019 | |
ESTIMATES, SIGNIFICANT ACCOUNTING POLICIES AND BALANCE SHEET DETAIL | |
Estimates Significant Accounting Policies And Balance Sheet Detail Text Block | ESTIMATES, SIGNIFICANT ACCOUNTING POLICIES AND BALANCE SHEET DETAIL: Use of Estimates The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the accrual for and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. The natural gas industry conducts its business by processing actual transactions at the end of the month following the month of delivery. Consequently, the most current month’s financial results for the midstream, NGL and intrastate transportation and storage operations are estimated using volume estimates and market prices. Any differences between estimated results and actual results are recognized in the following month’s financial statements. Management believes that the estimated operating results represent the actual results in all material respects. Some of the other significant estimates made by management include, but are not limited to, the timing of certain forecasted transactions that are hedged, the fair value of derivative instruments, useful lives for depreciation and amortization, purchase accounting allocations and subsequent realizability of intangible assets, fair value measurements used in the goodwill impairment test, market value of inventory, assets and liabilities resulting from the regulated ratemaking process, contingency reserves and environmental reserves. Actual results could differ from those estimates. Lease Accounting 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 . Regulatory Accounting – Regulatory Assets and Liabilities Our interstate transportation and storage segment is subject to regulation by certain state and federal authorities, and certain subsidiaries in that segment have accounting policies that conform to the accounting requirements and ratemaking practices of the regulatory authorities. The application of these accounting policies allows certain of our regulated entities to defer expenses and revenues on the balance sheet as regulatory assets and liabilities when it is probable that those expenses and revenues will be allowed in the ratemaking process in a period different from the period in which they would have been reflected in the consolidated statement of operations by an unregulated company. These deferred assets and liabilities will be reported in results of operations in the period in which the same amounts are included in rates and recovered from or refunded to customers. Management’s assessment of the probability of recovery or pass through of regulatory assets and liabilities will require judgment and interpretation of laws and regulatory commission orders. If, for any reason, we cease to meet the criteria for application of regulatory accounting treatment for these entities, the regulatory assets and liabilities related to those portions ceasing to meet such criteria would be eliminated from the consolidated balance sheet for the period in which the discontinuance of regulatory accounting treatment occurs. Although Panhandle’s natural gas transmission systems and storage operations are subject to the jurisdiction of the FERC in accordance with the Natural Gas Act of 1938 and Natural Gas Policy Act of 1978, it does not currently apply regulatory accounting policies in accounting for its operations. Panhandle does not apply regulatory accounting policies primarily due to the level of discounting from tariff rates and its inability to recover specific costs. Cash, Cash Equivalents and Supplemental Cash Flow Information 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. 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: Years Ended December 31, 2019 2018 2017 Accounts receivable $ (423 ) $ 506 $ (951 ) Accounts receivable from related companies (25 ) 128 (462 ) Inventories (98 ) 282 58 Other current assets 100 7 40 Other non-current assets, net (126 ) (109 ) (88 ) Accounts payable 101 (769 ) 713 Accounts payable to related companies (94 ) (206 ) 486 Accrued and other current liabilities 50 365 (56 ) Other non-current liabilities (183 ) (34 ) 78 Price risk management assets and liabilities, net 219 (53 ) 9 Net change in operating assets and liabilities, net of effects of acquisitions $ (479 ) $ 117 $ (173 ) Non-cash investing and financing activities and supplemental cash flow information are as follows: Years Ended December 31, 2019 2018 2017 NON-CASH INVESTING ACTIVITIES: Accrued capital expenditures $ 1,265 $ 1,030 $ 1,060 Lease assets obtained in exchange for new lease liabilities 67 — — Net gains (losses) from subsidiary common unit transactions — (127 ) 5 NON-CASH FINANCING ACTIVITIES: Contribution of assets from noncontrolling interests $ — $ — $ 988 SUPPLEMENTAL CASH FLOW INFORMATION: Cash paid for interest, net of interest capitalized $ 1,798 $ 1,537 $ 1,516 Cash paid for income taxes 30 508 50 Accounts Receivable Our operations deal with a variety of counterparties across the energy sector, some of which are investment grade, and most of which are not. Internal credit ratings and credit limits are assigned to all counterparties and limits are monitored against credit exposure. Letters of credit or prepayments may be required from those counterparties that are not investment grade depending on the internal credit rating and level of commercial activity with the counterparty. We have a diverse portfolio of customers; however, because of the midstream and transportation services we provide, many of our customers are engaged in the exploration and production segment. We manage trade credit risk to mitigate credit losses and exposure to uncollectible trade receivables. Prospective and existing customers are reviewed regularly for creditworthiness to manage credit risk within approved tolerances. Customers that do not meet minimum credit standards are required to provide additional credit support in the form of a letter of credit, prepayment, or other forms of security. We establish an allowance for doubtful accounts on trade receivables based on the expected ultimate recovery of these receivables and consider many factors including historical customer collection experience, general and specific economic trends, and known specific issues related to individual customers, sectors, and transactions that might impact collectability. Increases in the allowance are recorded as a component of operating expenses; reductions in the allowance are recorded when receivables are subsequently collected or written-off. Past due receivable balances are written-off when our efforts have been unsuccessful in collecting the amount due. Inventories Inventories consist principally of natural gas held in storage, NGLs and refined products, crude oil and spare parts, all of which are valued at the lower of cost or net realizable value utilizing the weighted-average cost method. Inventories consisted of the following: December 31, 2019 2018 Natural gas, NGLs and refined products (1) $ 833 $ 833 Crude oil 566 506 Spare parts and other 448 338 Total inventories $ 1,847 $ 1,677 (1) Due to changes in fuel prices, Sunoco LP recorded a write-down on the value of its fuel inventory of $85 million as of December 31, 2018 . 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. Other Current Assets Other current assets consisted of the following: December 31, 2019 2018 Deposits paid to vendors $ 95 $ 141 Prepaid expenses and other 187 215 Total other current assets $ 282 $ 356 Property, Plant and Equipment Property, plant and equipment are stated at cost less accumulated depreciation. Depreciation is computed using the straight-line method over the estimated useful or FERC-mandated lives of the assets, if applicable. Expenditures for maintenance and repairs that do not add capacity or extend the useful life are expensed as incurred. Expenditures to refurbish assets that either extend the useful lives of the asset or prevent environmental contamination are capitalized and depreciated over the remaining useful life of the asset. Additionally, we capitalize certain costs directly related to the construction of assets including internal labor costs, interest and engineering costs. Upon disposition or retirement of pipeline components or natural gas plant components, any gain or loss is recorded to accumulated depreciation. When entire pipeline systems, gas plants or other property and equipment are retired or sold, any gain or loss is included in our consolidated statements of operations. Property, plant and equipment is reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of such assets may not be recoverable. If such a review should indicate that the carrying amount of long-lived assets is not recoverable, we reduce the carrying amount of such assets to fair value. In 2019 , USAC recognized a $6 million fixed asset impairment related to certain idle compressor assets. Sunoco LP recognized a $47 million write-down on assets held for sale related to its ethanol plant in Fulton, New York. In 2018 , USAC recognized a $9 million fixed asset impairment related to certain idle compressor assets. In 2017 , the Partnership recorded a $127 million fixed asset impairment related to Sea Robin primarily due to a reduction in expected future cash flows due to an increase during 2017 in insurance costs related to offshore assets. Capitalized interest is included for pipeline construction projects, except for certain interstate projects for which an allowance for funds used during construction (“AFUDC”) is accrued. Interest is capitalized based on the current borrowing rate of our revolving credit facilities when the related costs are incurred. AFUDC is calculated under guidelines prescribed by the FERC and capitalized as part of the cost of utility plant for interstate projects. It represents the cost of servicing the capital invested in construction work-in-process. AFUDC is segregated into two component parts – borrowed funds and equity funds. Components and useful lives of property, plant and equipment were as follows: December 31, 2019 2018 Land and improvements $ 1,075 $ 1,168 Buildings and improvements (1 to 45 years) 2,581 2,636 Pipelines and equipment (5 to 83 years) 62,508 58,783 Product storage and related facilities and equipment (2 to 83 years) 4,739 4,978 Right of way (20 to 83 years) 4,736 4,533 Other (1 to 48 years) 1,499 1,115 Construction work-in-process 8,221 6,067 Property, plant and equipment, gross 85,359 79,280 Less: Accumulated depreciation and depletion (15,388 ) (12,625 ) Property, plant and equipment, net $ 69,971 $ 66,655 We recognized the following amounts for the periods presented: Years Ended December 31, 2019 2018 2017 Depreciation, depletion and amortization expense $ 2,816 $ 2,522 $ 2,199 Capitalized interest 166 294 286 Advances to and Investments in Unconsolidated Affiliates We own interests in a number of related businesses that are accounted for by the equity method. In general, we use the equity method of accounting for an investment for which we exercise significant influence over, but do not control, the investee’s operating and financial policies. An impairment of an investment in an unconsolidated affiliate is recognized when circumstances indicate that a decline in the investment value is other than temporary. Other Non-Current Assets, net Other non-current assets, net are stated at cost less accumulated amortization. Other non-current assets, net consisted of the following: December 31, 2019 2018 Regulatory assets $ 42 $ 43 Pension assets 84 68 Deferred charges 178 178 Restricted funds 178 178 Other 494 539 Total other non-current assets, net $ 976 $ 1,006 Restricted funds includes an immaterial amount of restricted cash primarily held in our wholly-owned captive insurance companies. Intangible Assets Intangible assets are stated at cost, net of amortization computed on the straight-line method. The Partnership removes the gross carrying amount and the related accumulated amortization for any fully amortized intangibles in the year they are fully amortized. Components and useful lives of intangible assets were as follows: December 31, 2019 December 31, 2018 Gross Carrying Amount Accumulated Amortization Gross Carrying Amount Accumulated Amortization Amortizable intangible assets: Customer relationships, contracts and agreements (3 to 46 years) $ 7,074 $ (1,741 ) $ 7,106 $ (1,493 ) Patents (10 years) 48 (35 ) 48 (30 ) Trade Names (20 years) 66 (31 ) 66 (28 ) Other (5 to 20 years) 19 (12 ) 33 (9 ) Total amortizable intangible assets 7,207 (1,819 ) 7,253 (1,560 ) Non-amortizable intangible assets: Trademarks 295 — 295 — Other 12 — 12 — Total non-amortizable intangible assets 307 — 307 — Total intangible assets $ 7,514 $ (1,819 ) $ 7,560 $ (1,560 ) Aggregate amortization expense of intangible assets was as follows: Years Ended December 31, 2019 2018 2017 Reported in depreciation, depletion and amortization expense $ 308 $ 321 $ 336 Estimated aggregate amortization expense for the next five years is as follows: Years Ending December 31: 2020 $ 371 2021 367 2022 337 2023 297 2024 284 We review amortizable intangible assets for impairment whenever events or changes in circumstances indicate that the carrying amount of such assets may not be recoverable. If such a review should indicate that the carrying amount of amortizable intangible assets is not recoverable, we reduce the carrying amount of such assets to fair value. We review non-amortizable intangible assets for impairment annually, or more frequently if circumstances dictate. Sunoco LP performed impairment tests on its indefinite-lived intangible assets during the fourth quarter of 2018 and recognized a $30 million impairment charge on its contractual rights , included in other in the table above, primarily due to decreases in projected future revenues and cash flows from the date the intangible assets were originally recorded. Sunoco LP performed impairment tests on its indefinite-lived intangible assets during the fourth quarter of 2017 and recognized a total of $17 million in impairment charges on their contractual rights and liquor licenses primarily due to decreases in projected future revenues and cash flows from the date the intangible assets were originally recorded. Goodwill Goodwill is tested for impairment annually or more frequently if circumstances indicate that goodwill might be impaired. The annual impairment test is performed during the fourth quarter. Changes in the carrying amount of goodwill were as follows: 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 All Other Total Balance, December 31, 2017 $ 10 $ 196 $ 870 $ 693 $ 1,167 $ 1,430 $ — $ 363 $ 4,729 Acquired — — — — — 129 366 — 495 CDM Contribution — — — — — — 253 (253 ) — Impaired — — (378 ) — — — — — (378 ) Other — — — — — — — 39 39 Balance, December 31, 2018 10 196 492 693 1,167 1,559 619 149 4,885 Acquired — 42 — — — — — — 42 Impaired — (12 ) (9 ) — — — — — (21 ) Other — — — — — (4 ) — — (4 ) Balance, December 31, 2019 $ 10 $ 226 $ 483 $ 693 $ 1,167 $ 1,555 $ 619 $ 149 $ 4,902 Goodwill is recorded at the acquisition date based on a preliminary purchase price allocation and generally may be adjusted when the purchase price allocation is finalized. During the third quarter of 2019, the Partnership recognized a goodwill impairment of $12 million related to the Southwest Gas operations within the interstate segment primarily due to decreases in projected future revenues and cash flows. During the fourth quarter of 2019, the Partnership recognized a goodwill impairment of $9 million related to our North Central operations within the midstream segment primarily due to changes in assumptions related to projected future revenues and cash flows. During the fourth quarter of 2018, the Partnership recognized goodwill impairments of $378 million related to our Northeast operations within the midstream segment primarily due to changes in assumptions related to projected future revenues and cash flows from the dates the goodwill was originally recorded. These changes in assumptions reflect delays in the construction of third-party takeaway capacity in the Northeast. During the fourth quarter of 2017, the Partnership recognized goodwill impairments of $262 million in the interstate transportation and storage segment, $79 million in the NGL and refined products transportation and services segment and $452 million in the all other segment primarily due to changes in assumptions related to projected future revenues and cash flows from the dates the goodwill was originally recorded. Sunoco LP recognized goodwill impairments of $387 million , of which $102 million was allocated to continuing operations , primarily due to changes in assumptions related to projected future revenues and cash flows from the dates the goodwill was originally recorded. In connection with aforementioned impairments, the Partnership determined the fair value of our reporting units using a weighted combination of the discounted cash flow method and the guideline company method. Determining the fair value of a reporting unit requires judgment and the use of significant estimates and assumptions. Such estimates and assumptions include revenue growth rates, operating margins, weighted average costs of capital and future market conditions, among others. The Partnership believes the estimates and assumptions used in our impairment assessments are reasonable and based on available market information, but variations in any of the assumptions could result in materially different calculations of fair value and determinations of whether or not an impairment is indicated. Under the discounted cash flow method, the Partnership determined fair value based on estimated future cash flows of each reporting unit including estimates for capital expenditures, discounted to present value using the risk-adjusted industry rate, which reflect the overall level of inherent risk of the reporting unit. Cash flow projections are derived from one year budgeted amounts and five year operating forecasts plus an estimate of later period cash flows, all of which are evaluated by management. Subsequent period cash flows are developed for each reporting unit using growth rates that management believes are reasonably likely to occur. Under the guideline company method, the Partnership determined the estimated fair value of each of our reporting units by applying valuation multiples of comparable publicly-traded companies to each reporting unit’s projected EBITDA and then averaging that estimate with similar historical calculations using a three year average. In addition, the Partnership estimated a reasonable control premium representing the incremental value that accrues to the majority owner from the opportunity to dictate the strategic and operational actions of the business. Management does not believe that any of the goodwill balances in its reporting units is currently at significant risk of impairment; however, of the $4.90 billion of goodwill on the Partnership’s consolidated balance sheet as of December 31, 2019 , approximately $380 million is recorded in reporting units for which the estimated fair value exceeded the carrying value by less than 20% in the most recent quantitative test. Asset Retirement Obligations We have determined that we are obligated by contractual or regulatory requirements to remove facilities or perform other remediation upon retirement of certain assets. The fair value of any ARO is determined based on estimates and assumptions related to retirement costs, which the Partnership bases on historical retirement costs, future inflation rates and credit-adjusted risk-free interest rates. These fair value assessments are considered to be Level 3 measurements, as they are based on both observable and unobservable inputs. Changes in the liability are recorded for the passage of time (accretion) or for revisions to cash flows originally estimated to settle the ARO. An ARO is required to be recorded when a legal obligation to retire an asset exists and such obligation can be reasonably estimated. We will record an ARO in the periods in which management can reasonably estimate the settlement dates. Except for certain amounts discussed below, management was not able to reasonably measure the fair value of AROs as of December 31, 2019 and 2018 , in most cases because the settlement dates were indeterminable. Although a number of other onshore assets in Panhandle’s system are subject to agreements or regulations that give rise to an ARO upon Panhandle’s discontinued use of these assets, AROs were not recorded because these assets have an indeterminate removal or abandonment date given the expected continued use of the assets with proper maintenance or replacement. ETC Sunoco has legal AROs for several other assets at its previously owned refineries, pipelines and terminals, for which it is not possible to estimate when the obligations will be settled. Consequently, the retirement obligations for these assets cannot be measured at this time. At the end of the useful life of these underlying assets, ETC Sunoco is legally or contractually required to abandon in place or remove the asset. We believe we may have additional AROs related to ETC Sunoco’s pipeline assets and storage tanks, for which it is not possible to estimate whether or when the AROs will be settled. Consequently, these AROs cannot be measured at this time. Sunoco LP has AROs related to the estimated future cost to remove underground storage tanks. As of December 31, 2019 and 2018 , other non-current liabilities in the Partnership’s consolidated balance sheets included AROs of $223 million and $193 million , respectively. For the years ended December 31, 2019, 2018 and 2017 aggregate accretion expense related to AROs was $5 million , $13 million and $9 million , respectively. Individual component assets have been and will continue to be replaced, but the pipeline and the natural gas gathering and processing systems will continue in operation as long as supply and demand for natural gas exists. Based on the widespread use of natural gas in industrial and power generation activities, management expects supply and demand to exist for the foreseeable future. We have in place a rigorous repair and maintenance program that keeps the pipelines and the natural gas gathering and processing systems in good working order. Therefore, although some of the individual assets may be replaced, the pipelines and the natural gas gathering and processing systems themselves will remain intact indefinitely. Oher non-current assets on the Partnership’s consolidated balance sheet included $31 million and $26 million of legally restricted funds for the purpose of settling AROs as of December 31, 2019 and 2018 , respectively. Accrued and Other Current Liabilities Accrued and other current liabilities consisted of the following: December 31, 2019 2018 Interest payable $ 576 $ 503 Customer advances and deposits 123 128 Accrued capital expenditures 1,265 1,030 Accrued wages and benefits 217 283 Taxes payable other than income taxes 263 256 Exchanges payable 67 112 Other 705 535 Total accrued and other current liabilities $ 3,216 $ 2,847 Deposits or advances are received from our customers as prepayments for natural gas deliveries in the following month. Prepayments and security deposits may be required when customers exceed their credit limits or do not qualify for open credit. Redeemable Noncontrolling Interests Our redeemable noncontrolling interests relate to certain preferred unitholders of one of our consolidated subsidiaries that have the option to convert their preferred units to such subsidiary’s common units at the election of the holders and the noncontrolling interest holders in one of our consolidated subsidiaries that have the option to sell their interests to us. In accordance with applicable accounting guidance, the noncontrolling interest is excluded from total equity and reflected as redeemable noncontrolling interests on our consolidated balance sheet. See Note 6 for further information. Environmental Remediation We accrue environmental remediation costs for work at identified sites where an assessment has indicated that cleanup costs are probable and reasonably estimable. Such accruals are undiscounted and are based on currently available information, estimated timing of remedial actions and related inflation assumptions, existing technology and presently enacted laws and regulations. If a range of probable environmental cleanup costs exists for an identified site, the minimum of the range is accrued unless some other point in the range is more likely in which case the most likely amount in the range is accrued. Fair Value of Financial Instruments The carrying amounts of cash and cash equivalents, accounts receivable and accounts payable approximate their fair value. 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 debt obligations as of December 31, 2019 was $54.08 billion and $50.35 billion , respectively. As of December 31, 2018 , the aggregate fair value and carrying amount of our 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, interest rate derivatives and embedded derivatives in our preferred units 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 year ended December 31, 2019 , no transfers were made between any levels within the fair value hierarchy. The following tables summarize the fair value of our financial assets and liabilities measured and recorded at fair value on a recurring basis as of December 31, 2019 and 2018 based on inputs used to derive their fair values: Fair Value Total Fair Value Measurements at December 31, 2019 Level 1 Level 2 Assets: Commodity derivatives: Natural Gas: Basis Swaps IFERC/NYMEX $ 17 $ 17 $ — Swing Swaps IFERC 1 — 1 Fixed Swaps/Futures 65 65 — Forward Physical Contracts 3 — 3 Power: Forwards 11 — 11 Futures 4 4 — Options – Puts 1 1 — Options – Calls 1 1 — NGLs – Forwards/Swaps 260 260 — Refined Products – Futures 8 8 — Crude – Forwards/Swaps 13 13 — Total commodity derivatives 384 369 15 Other non-current assets 31 20 11 Total assets $ 415 $ 389 $ 26 Liabilities: Interest rate derivatives $ (399 ) $ — $ (399 ) Commodity derivatives: Natural Gas: Basis Swaps IFERC/NYMEX (49 ) (49 ) — Swing Swaps IFERC (1 ) — (1 ) Fixed Swaps/Futures (43 ) (43 ) — Power: Forwards (5 ) — (5 ) Futures (3 ) (3 ) — NGLs – Forwards/Swaps (278 ) (278 ) — Refined Products – Futures (10 ) (10 ) — Total commodity derivatives (389 ) (383 ) (6 ) Total liabilities $ (788 ) $ (383 ) $ (405 ) Fair Value Total Fair Value Measurements at December 31, 2018 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: 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 as |
Acquisitions, Divestitures and
Acquisitions, Divestitures and Related Transactions (Notes) | 12 Months Ended |
Dec. 31, 2019 | |
Business Combinations [Abstract] | |
ACQUISITIONS AND DIVESTITURE | ACQUISITIONS, DIVESTITURES AND RELATED TRANSACTIONS: 2019 and 2020 Transactions ET Contribution of SemGroup Assets to ETO On December 5, 2019, ET completed the acquisition of SemGroup. During the first quarter of 2020, ET contributed certain SemGroup assets to ETO through sale and contribution transactions. The Partnership and SemGroup are under common control by ET subsequent to ET’s acquisition of SemGroup; therefore, we will account for these transactions as reorganizations of entities under common control. Accordingly, beginning with the quarter ending March 31, 2020, the Partnership’s consolidated financial statements will be retrospectively adjusted to reflect the consolidation of the contributed SemGroup businesses beginning December 5, 2019 (the date ET acquired SemGroup). The following table represents the preliminary fair value, as of December 5, 2019, of the SemGroup assets and liabilities transferred from ET to ETO: At December 5, 2019 Total current assets $ 548 Property, plant and equipment 2,544 Other non-current assets 574 Goodwill 230 Intangible assets 280 Total assets 4,176 Total current liabilities 480 Long-term debt, less current maturities 812 Other non-current liabilities 109 Total liabilities 1,401 Noncontrolling interest 335 Partners’ capital 2,440 Total liabilities and partners’ capital $ 4,176 2018 Transactions ET Contribution of Assets to ETO Immediately prior to the closing of the Energy Transfer Merger discussed in Note 1 , ET contributed the following to ETO: • 2,263,158 common units representing limited partner interests in Sunoco LP to ETO in exchange for 2,874,275 ETO common units; • 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; • 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 • a 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 to ETO in exchange for 37,557,815 ETO common units. USAC Acquisition On April 2, 2018, ET acquired a controlling interest in USAC, a publicly traded partnership that provides compression services in the United States. Specifically the Partnership acquired (i) all of the outstanding limited liability company interests in USA Compression GP, LLC (“USAC GP”), the general partner of USAC, and (ii) 12,466,912 USAC common units representing limited partner interests in USAC for cash consideration equal to $250 million (the “USAC Transaction”). Concurrently, USAC cancelled its IDRs and converted its economic general partner interest into a non-economic general partner interest in exchange for the issuance of 8,000,000 USAC common units to USAC GP. Concurrent with these transactions, ETO contributed to USAC all of the issued and outstanding membership interests of CDM for aggregate consideration of approximately $1.7 billion , consisting of (i) 19,191,351 USAC common units, (ii) 6,397,965 units of a newly authorized and established class of units representing limited partner interests in USAC (“USAC Class B Units”) and (iii) $1.23 billion in cash, including customary closing adjustments (the “CDM Contribution”). The USAC Class B Units are a new class of partnership interests of USAC that have substantially all of the rights and obligations of a USAC common unit, except the USAC Class B Units will not participate in distributions for the first four quarters following the closing date of April 2, 2018. Each USAC Class B Unit will automatically convert into one USAC common unit on the first business day following the record date attributable to the quarter ending June 30, 2019. As noted above, ET contributed its interests in USAC to ETO in October 2018. ET’s contribution of its interests in USAC was a transaction between entities under common control; therefore, the Partnership’s consolidated financial statements reflect USAC on a consolidated basis beginning April 2, 2018, the date that ET obtained control of USAC. The Partnership had previously deconsolidated CDM upon its contribution to USAC on April 2, 2018; however, due to the retrospective consolidation of USAC as of that date, CDM is reflected as a consolidated subsidiary for all periods presented herein. Summary of Assets Acquired and Liabilities Assumed The USAC Transaction was recorded using the acquisition method of accounting, which requires, among other things, that assets acquired and liabilities assumed be recognized on the balance sheet at their fair values as of the acquisition date. The total purchase price was allocated as follows: At April 2, 2018 Total current assets $ 786 Property, plant and equipment 1,332 Other non-current assets 15 Goodwill (1) 366 Intangible assets 222 Total assets 2,721 Total current liabilities 110 Long-term debt, less current maturities 1,527 Other non-current liabilities 2 Total liabilities 1,639 Noncontrolling interest 832 Total consideration 250 Cash received (2) 711 Total consideration, net of cash received (2) $ (461 ) (1) None of the goodwill is expected to be deductible for tax purposes. Goodwill recognized from the business combination primarily relates to the value attributed to additional growth opportunities, synergies and operating leverage within USAC’s operations. (2) Cash received represents cash and cash equivalents held by USAC as of the acquisition date. The fair values of the assets acquired and liabilities assumed were determined using various valuation techniques, including the income and market approaches. Sunoco LP Retail Store Divestment 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 (“Supply Agreement”), with 7-Eleven and SEI Fuel (collectively, “Distributor”). The Supply Agreement consists of a 15-year take-or-pay fuel supply arrangement under which Sunoco LP has agreed to supply approximately 2.0 billion gallons of fuel annually plus additional aggregate growth volumes of up to 500 million gallons to be added incrementally over the first four years. For the period from January 1, 2018 through January 22, 2018 and the years ended December 31, 2017 , Sunoco LP recorded sales to the sites that were subsequently sold to 7-Eleven of $199 million and $3.2 billion , respectively, which were eliminated in consolidation. Sunoco LP received payments on trade receivables of $3.7 billion and $3.4 billion , respectively, from 7-Eleven for the years ended December 31, 2019 and December 31, 2018 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 year ended December 31, 2019 . The results of operations associated with discontinued operations for the years ended December 31, 2018 and 2017 are presented in the following table: Years Ended December 31, 2018 2017 REVENUES $ 349 $ 6,964 COSTS AND EXPENSES Cost of products sold 305 5,806 Operating expenses 61 763 Depreciation, depletion and amortization — 34 Selling, general and administrative 7 168 Impairment losses — 285 Total costs and expenses 373 7,056 OPERATING LOSS (24 ) (92 ) OTHER EXPENSE Interest expense, net 2 36 Loss on extinguishment of debt 20 — Other, net 61 1 LOSS FROM DISCONTINUED OPERATIONS BEFORE INCOME TAX EXPENSE (107 ) (129 ) Income tax expense 158 48 LOSS FROM DISCONTINUED OPERATIONS, NET OF INCOME TAXES $ (265 ) $ (177 ) 2017 Transactions Rover Contribution Agreement In October 2017, ETO completed the previously announced contribution transaction with a fund managed by Blackstone Energy Partners and Blackstone Capital Partners, pursuant to which ETO exchanged a 49.9% interest in the holding company that owns 65% of the Rover pipeline (“Rover Holdco”). As a result, Rover Holdco is now owned 50.1% by ETO and 49.9% by Blackstone. Upon closing, Blackstone contributed funds to reimburse ETO for its pro rata share of the Rover construction costs incurred by ETO through the closing date, along with the payment of additional amounts subject to certain adjustments. ETO and Sunoco Logistics Merger As discussed in Note 1 , in April 2017, Energy Transfer Partners, L.P. and Sunoco Logistics completed the Sunoco Logistics Merger. Permian Express Partners In February 2017, the Partnership formed PEP, a strategic joint venture with ExxonMobil. The Partnership contributed its Permian Express 1, Permian Express 2, Permian Longview and Louisiana Access pipelines. ExxonMobil contributed its Longview to Louisiana and Pegasus pipelines, Hawkins gathering system, an idle pipeline in southern Oklahoma, and its Patoka, Illinois terminal. Assets contributed to PEP by ExxonMobil were reflected at fair value on the Partnership’s consolidated balance sheet at the date of the contribution, including $547 million of intangible assets and $435 million of property, plant and equipment. In July 2017, ETO contributed an approximate 15% ownership interest in Dakota Access and ETCO to PEP, which resulted in an increase in ETO’s ownership interest in PEP to approximately 88% . ETO maintains a controlling financial and voting interest in PEP and is the operator of all of the assets. As such, PEP is reflected as a consolidated subsidiary of the Partnership. ExxonMobil’s interest in PEP is reflected as noncontrolling interest in the consolidated balance sheets. ExxonMobil’s contribution resulted in an increase of $988 million in noncontrolling interest, which is reflected in “Capital contributions from noncontrolling interest” in the consolidated statement of equity. Bakken Equity Sale In February 2017, Bakken Holdings Company LLC, an entity in which ETO indirectly owns a 100% membership interest, sold a 49% interest in its wholly-owned subsidiary, Bakken Pipeline Investments LLC, to MarEn Bakken Company LLC, an entity jointly owned by MPLX LP and Enbridge Energy Partners, L.P., for $2.00 billion in cash. Bakken Pipeline Investments LLC indirectly owns a 75% interest in each of Dakota Access and ETCO. The remaining 25% of each of Dakota Access and ETCO is owned by wholly-owned subsidiaries of Phillips 66. ETO continues to consolidate Dakota Access and ETCO subsequent to this transaction. |
Advances to and Investments in
Advances to and Investments in Unconsolidated Affiliates | 12 Months Ended |
Dec. 31, 2019 | |
Investments in and Advances to Affiliates, Schedule of Investments [Abstract] | |
Investments in and Advances to Affiliates, Schedule of Investments [Text Block] | ADVANCES TO AND INVESTMENTS IN UNCONSOLIDATED AFFILIATES: Citrus We own CrossCountry Energy, LLC, a wholly-owned subsidiary of ETO, which in turn owns a 50% interest in Citrus. The other 50% interest in Citrus is owned by a subsidiary of KMI. Citrus owns 100% of FGT, an approximately 5,362 -mile natural gas pipeline system that originates in Texas and delivers natural gas to the Florida peninsula. Our investment in Citrus is reflected in our interstate transportation and storage segment. FEP We have a 50% interest in FEP which owns an approximately 185-mile natural gas pipeline that originates in Conway County, Arkansas, continues eastward through White County, Arkansas and terminates at an interconnect with Trunkline in Panola County, Mississippi. Our investment in FEP is reflected in the interstate transportation and storage segment. The Partnership evaluated its investment in FEP for impairment as of December 31, 2017, based on FASB Accounting Standards Codification 323, Investments - Equity Method and Joint Ventures . The Partnership recorded an impairment of its investment in FEP of $141 million during the year ended December 31, 2017 due to a negative outlook for long-term transportation contracts as a result of a decrease in production in the Fayetteville basin and a customer re-contracting with a competitor. MEP We own a 50% interest in MEP, which owns approximately 500 miles of natural gas pipeline that extends from Southeast Oklahoma, across Northeast Texas, Northern Louisiana and Central Mississippi to an interconnect with the Transcontinental natural gas pipeline system in Butler, Alabama. Our investment in MEP is reflected in the interstate transportation and storage segment. The carrying values of the Partnership’s advances to and investments in unconsolidated affiliates as of December 31, 2019 and 2018 were as follows: December 31, 2019 2018 Citrus $ 1,876 $ 1,737 FEP 218 107 MEP 429 225 Others 495 567 Total $ 3,018 $ 2,636 The following table presents equity in earnings (losses) of unconsolidated affiliates: Years Ended December 31, 2019 2018 2017 Citrus $ 148 $ 141 $ 144 FEP 59 55 53 MEP 15 31 38 Other 76 117 (91 ) Total equity in earnings of unconsolidated affiliates $ 298 $ 344 $ 144 Summarized Financial Information The following tables present aggregated selected balance sheet and income statement data for our unconsolidated affiliates, Citrus, FEP and MEP (on a 100% basis) for all periods presented, except as noted below: December 31, 2019 2018 Current assets $ 247 $ 212 Property, plant and equipment, net 7,680 7,800 Other assets 40 39 Total assets $ 7,967 $ 8,051 Current liabilities $ 738 $ 1,534 Non-current liabilities 3,242 3,439 Equity 3,987 3,078 Total liabilities and equity $ 7,967 $ 8,051 Years Ended December 31, 2019 2018 2017 Revenue $ 1,192 $ 1,249 $ 1,358 Operating income 683 723 407 Net income 443 460 145 In addition to the equity method investments described above we have other equity method investments which are not significant to our consolidated financial statements. |
Debt Obligations (Notes)
Debt Obligations (Notes) | 12 Months Ended |
Dec. 31, 2019 | |
Debt Obligations [Abstract] | |
DEBT OBLIGATIONS | DEBT OBLIGATIONS: Our debt obligations consist of the following: December 31, 2019 2018 ETO Debt 9.70% Senior Notes due March 15, 2019 $ — $ 400 9.00% Senior Notes due April 15, 2019 — 450 5.50% Senior Notes due February 15, 2020 (1) 250 250 5.75% Senior Notes due September 1, 2020 (1) 400 400 4.15% Senior Notes due October 1, 2020 (1) 1,050 1,050 7.50% Senior Notes due October 15, 2020 (1) 1,135 — 4.40% Senior Notes due April 1, 2021 600 600 4.65% Senior Notes due June 1, 2021 800 800 5.20% Senior Notes due February 1, 2022 1,000 1,000 4.65% Senior Notes due February 15, 2022 300 300 5.875% Senior Notes due March 1, 2022 900 900 5.00% Senior Notes due October 1, 2022 700 700 3.45% Senior Notes due January 15, 2023 350 350 3.60% Senior Notes due February 1, 2023 800 800 4.25% Senior Notes due March 15, 2023 995 — 4.20% Senior Notes due September 15, 2023 500 500 4.50% Senior Notes due November 1, 2023 600 600 5.875% Senior Notes due January 15, 2024 1,127 — 4.90% Senior Notes due February 1, 2024 350 350 7.60% Senior Notes due February 1, 2024 277 277 4.25% Senior Notes due April 1, 2024 500 500 4.50% Senior Notes due April 15, 2024 750 — 9.00% Debentures due November 1, 2024 65 65 4.05% Senior Notes due March 15, 2025 1,000 1,000 5.95% Senior Notes due December 1, 2025 400 400 4.75% Senior Notes due January 15, 2026 1,000 1,000 3.90% Senior Notes due July 15, 2026 550 550 4.20% Senior Notes due April 15, 2027 600 600 5.50% Senior Notes due June 1, 2027 956 — 4.00% Senior Notes due October 1, 2027 750 750 4.95% Senior Notes due June 15, 2028 1,000 1,000 5.25% Senior Notes due April 15, 2029 1,500 — 8.25% Senior Notes due November 15, 2029 267 267 4.90% Senior Notes due March 15, 2035 500 500 6.625% Senior Notes due October 15, 2036 400 400 5.80% Senior Notes due June 15, 2038 500 500 7.50% Senior Notes due July 1, 2038 550 550 6.85% Senior Notes due February 15, 2040 250 250 6.05% Senior Notes due June 1, 2041 700 700 6.50% Senior Notes due February 1, 2042 1,000 1,000 6.10% Senior Notes due February 15, 2042 300 300 4.95% Senior Notes due January 15, 2043 350 350 5.15% Senior Notes due February 1, 2043 450 450 5.95% Senior Notes due October 1, 2043 450 450 5.30% Senior Notes due April 1, 2044 700 700 5.15% Senior Notes due March 15, 2045 1,000 1,000 5.35% Senior Notes due May 15, 2045 800 800 6.125% Senior Notes due December 15, 2045 1,000 1,000 5.30% Senior Notes due April 15, 2047 900 900 5.40% Senior Notes due October 1, 2047 1,500 1,500 6.00% Senior Notes due June 15, 2048 1,000 1,000 6.25% Senior Notes due April 15, 2049 1,750 — Floating Rate Junior Subordinated Notes due November 1, 2066 546 546 ETO $2.00 billion Term Loan facility due October 2022 2,000 — ETO $5.00 billion Revolving Credit Facility due December 2023 4,214 3,694 Unamortized premiums, discounts and fair value adjustments, net (5 ) 17 Deferred debt issuance costs (207 ) (178 ) 42,120 32,288 Transwestern Debt 5.36% Senior Notes due December 9, 2020 (1) 175 175 5.89% Senior Notes due May 24, 2022 150 150 5.66% Senior Notes due December 9, 2024 175 175 6.16% Senior Notes due May 24, 2037 75 75 Deferred debt issuance costs (1 ) (1 ) 574 574 Panhandle Debt 8.125% Senior Notes due June 1, 2019 — 150 7.60% Senior Notes due February 1, 2024 82 82 7.00% Senior Notes due July 15, 2029 66 66 8.25% Senior Notes due November 15, 2029 33 33 Floating Rate Junior Subordinated Notes due November 1, 2066 54 54 Unamortized premiums, discounts and fair value adjustments, net 11 14 246 399 Bakken Project Debt 3.625% Senior Notes due April 1, 2022 650 — 3.90% Senior Notes due April 1, 2024 1,000 — 4.625% Senior Notes due April 1, 2029 850 — Bakken $2.50 billion Credit Facility due August 2019 — 2,500 Unamortized premiums, discounts and fair value adjustments, net (3 ) — Deferred debt issuance costs (16 ) (3 ) 2,481 2,497 Sunoco LP Debt 4.875% Senior Notes Due January 15, 2023 1,000 1,000 5.50% Senior Notes Due February 15, 2026 800 800 6.00% Senior Notes Due April 15, 2027 600 — 5.875% Senior Notes Due March 15, 2028 400 400 Sunoco LP $1.50 billion Revolving Credit Facility due July 2023 162 700 Lease-related obligations 135 107 Deferred debt issuance costs (26 ) (23 ) 3,071 2,984 USAC Debt 6.875% Senior Notes due April 1, 2026 725 725 6.875% Senior Notes due September 1, 2027 750 — USAC $1.60 billion Revolving Credit Facility due April 2023 403 1,050 Deferred debt issuance costs (26 ) (16 ) 1,852 1,759 Other 2 7 Total debt 50,346 40,508 Less: Current maturities of long-term debt 12 2,655 Long-term debt, less current maturities $ 50,334 $ 37,853 (1) As of December 31, 2019 , these notes were classified as long-term as management had the intent and ability to refinance the borrowings on a long-term basis. The notes were redeemed in January 2020. The following table reflects future maturities of long-term debt for each of the next five years and thereafter. These amounts exclude $273 million in unamortized net premiums, fair value adjustments and deferred debt issuance costs: 2020 $ 3,021 2021 1,412 2022 5,792 2023 8,960 2024 4,337 Thereafter 27,097 Total $ 50,619 Long-term debt reflected on our consolidated balance sheets includes fair value adjustments related to interest rate swaps, which represent fair value adjustments that had been recorded in connection with fair value hedge accounting prior to the termination of the interest rate swap. ETO Senior Notes The ETO senior notes were registered under the Securities Act of 1933 (as amended). The Partnership may redeem some or all of the ETO senior notes at any time, or from time to time, pursuant to the terms of the indenture and related indenture supplements related to the ETO senior notes. The balance is payable upon maturity. Interest on the ETO senior notes is paid semi-annually. The ETO senior notes are unsecured obligations of the Partnership and as a result, the ETO senior notes effectively rank junior to any future indebtedness of ours or our subsidiaries that is both secured and unsubordinated to the extent of the value of the assets securing such indebtedness, and the ETO senior notes effectively rank junior to all indebtedness and other liabilities of our existing and future subsidiaries. ETO January 2020 Senior Notes Offering and Redemption On January 22, 2020, ETO completed a registered offering (the “January 2020 Senior Notes Offering”) of $1.00 billion aggregate principal amount of the Partnership’s 2.900% Senior Notes due 2025, $1.50 billion aggregate principal amount of the Partnership’s 3.750% Senior Notes due 2030 and $2.00 billion aggregate principal amount of the Partnership’s 5.000% Senior Notes due 2050, (collectively, the “Notes”). The Notes are fully and unconditionally guaranteed by the Partnership’s wholly owned subsidiary, Sunoco Logistics Partners Operations L.P., on a senior unsecured basis. Utilizing proceeds from the January 2020 Senior Notes Offering, ETO redeemed its $400 million aggregate principal amount of 5.75% Senior Notes due September 1, 2020, its $1.05 billion aggregate principal amount of 4.15% Senior Notes due October 1, 2020, its $1.14 billion aggregate principal amount of 7.50% Senior Notes due October 15, 2020, its $250 million aggregate principal amount of 5.50% Senior Notes due February 15, 2020 , ET’s $52 million aggregate principal amount of 7.50% Senior Notes due October 15, 2020 and Transwestern’s $175 million aggregate principal amount of 5.36% Senior Notes due December 9, 2020. 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 . 2019 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 $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, 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 notes due 2027 in a private placement, and in December 2019, USAC exchanged those notes for substantially identical senior notes registered under the Securities Act. 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. Transwestern Senior Notes The Transwestern senior notes are redeemable at any time in whole or pro rata, subject to a premium or upon a change of control event or an event of default, as defined. The balance is payable upon maturity. Interest is paid semi-annually. Credit Facilities, Term Loan and Commercial Paper ETO Term Loan On October 17, 2019, ETO entered into a term loan credit agreement (the “ETO Term Loan”) providing for a $2.00 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 is unsecured and is guaranteed by our subsidiary, Sunoco Logistics Partners Operations L.P. As of December 31, 2019 , the ETO Term Loan had $2.00 billion outstanding and was fully drawn. The weighted average interest rate on the total amount outstanding as of December 31, 2019 was 2.78% . 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 December 31, 2019 , the ETO Five-Year Credit Facility had $4.21 billion outstanding, of which $1.64 billion was commercial paper. The amount available for future borrowings was $709 million after taking into account letters of credit of $77 million . The weighted average interest rate on the total amount outstanding as of December 31, 2019 was 2.88% . 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 27, 2020. As of December 31, 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”). As of December 31, 2019 , the Sunoco LP Credit Facility had $162 million outstanding borrowings and $8 million in standby letters of credit. The amount available for future borrowings was $1.33 billion at December 31, 2019 . The weighted average interest rate on the total amount outstanding as of December 31, 2019 was 3.75% . USAC Credit Facility USAC maintains a $1.60 billion revolving credit facility (the “USAC Credit Facility”), which matures on April 2, 2023 and permits up to $400 million of future increases in borrowing capacity. As of December 31, 2019 , USAC had $403 million of outstanding borrowings and no outstanding letters of credit under the credit agreement. As of December 31, 2019 , USAC had $1.2 billion of availability under its credit facility. The weighted average interest rate on the total amount outstanding as of December 31, 2019 was 4.31% . Covenants Related to Our Credit Agreements Covenants Related to ETO The agreements relating to the ETO senior notes contain restrictive covenants customary for an issuer with an investment-grade rating from the rating agencies, which covenants include limitations on liens and a restriction on sale-leaseback transactions. The ETO Credit Facilities contain covenants that limit (subject to certain exceptions) the Partnership’s and certain of the Partnership’s subsidiaries’ ability to, among other things: • incur indebtedness; • grant liens; • enter into mergers; • dispose of assets; • make certain investments; • make Distributions (as defined in the ETO Credit Facilities) during certain Defaults (as defined in the ETO Credit Facilities) and during any Event of Default (as defined in the ETO Credit Facilities); • engage in business substantially different in nature than the business currently conducted by the Partnership and its subsidiaries; • engage in transactions with affiliates; and • enter into restrictive agreements. The ETO Credit Facilities applicable margin and rate used in connection with the interest rates and commitment fees, respectively, are based on the credit ratings assigned to our senior, unsecured, non-credit enhanced long-term debt. The applicable margin for eurodollar rate loans under the ETO Five-Year Facility ranges from 1.125% to 2.000% and the applicable margin for base rate loans ranges from 0.125% to 1.000% . The applicable rate for commitment fees under the ETO Five-Year Facility ranges from 0.125% to 0.300% . The applicable margin for eurodollar rate loans under the ETO 364-Day Facility ranges from 1.250% to 1.750% and the applicable margin for base rate loans ranges from 0.250% to 0.750% . The applicable rate for commitment fees under the ETO 364-Day Facility ranges from 0.125% to 0.225% . The ETO Credit Facilities contain various covenants including limitations on the creation of indebtedness and liens, and related to the operation and conduct of our business. The ETO Credit Facilities also limit us, on a rolling four quarter basis, to a maximum Consolidated Funded Indebtedness to Consolidated EBITDA ratio, as defined in the underlying credit agreements, of 5.0 to 1 , which can generally be increased to 5.5 to 1 during a Specified Acquisition Period. Our Leverage Ratio was 4.04 to 1 at December 31, 2019 , as calculated in accordance with the credit agreements. The agreements relating to the Transwestern senior notes contain certain restrictions that, among other things, limit the incurrence of additional debt, the sale of assets and the payment of dividends and specify a maximum debt to capitalization ratio. Failure to comply with the various restrictive and affirmative covenants of our revolving credit facilities could require us to pay debt balances prior to scheduled maturity and could negatively impact the Partnership’s or our subsidiaries’ ability to incur additional debt and/or our ability to pay distributions to Unitholders. Covenants Related to Panhandle Panhandle is not party to any lending agreement that would accelerate the maturity date of any obligation due to a failure to maintain any specific credit rating, nor would a reduction in any credit rating, by itself, cause an event of default under any of Panhandle’s lending agreements. Panhandle’s restrictive covenants include restrictions on liens securing debt and guarantees and restrictions on mergers and on the sales of assets. A breach of any of these covenants could result in acceleration of Panhandle’s debt. Covenants Related to Sunoco LP The Sunoco LP Credit Facility contains various customary representations, warranties, covenants and events of default, including a change of control event of default, as defined therein. Sunoco LP’s Credit Facility requires Sunoco LP to maintain a Net Leverage Ratio of not more than 5.5 to 1. The maximum Net Leverage Ratio is subject to upwards adjustment of not more than 6.0 to 1 for a period not to exceed three fiscal quarters in the event Sunoco LP engages in certain specified acquisitions of not less than $50 million (as permitted under Sunoco LP’s Credit Facility agreement). The Sunoco LP Credit Facility also requires Sunoco LP to maintain an Interest Coverage Ratio (as defined in the Sunoco LP’s Credit Facility agreement) of not less than 2.25 to 1. Covenants Related to USAC The USAC Credit Facility contains covenants that limit (subject to certain exceptions) USAC’s ability to, among other things: • grant liens; • make certain loans or investments; • incur additional indebtedness or guarantee other indebtedness; • merge or consolidate; • sell our assets; or • make certain acquisitions. The credit facility is also subject to the following financial covenants, including covenants requiring us to maintain: • a minimum EBITDA to interest coverage ratio of 2.5 to 1.0 , determined as of the last day of each fiscal quarter; and • a maximum funded debt to EBITDA ratio, determined as of the last day of each fiscal quarter, for the annualized trailing three months of (i) 5.5 to 1 through the end of the fiscal quarter ending December 31, 2019 and (ii) 5.0 to 1.0 thereafter, in each case subject to a provision for increases to such thresholds by 0.50 in connection with certain future acquisitions for the six consecutive month period following the period in which any such acquisition occurs. Compliance with our Covenants We and our subsidiaries were in compliance with all requirements, tests, limitations, and covenants related to our debt agreements as of December 31, 2019 . |
Redeemable Noncontrolling Inter
Redeemable Noncontrolling Interest (Notes) | 12 Months Ended |
Dec. 31, 2019 | |
Temporary Equity [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 sheet. Redeemable noncontrolling interests as of December 31, 2019 included a balance of $477 million related to the USAC Preferred Units described below and a balance of $15 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 Series A 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 in a private placement. 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. Certain portions of the USAC Preferred Units will be convertible into USAC common units at the election of the holders beginning in 2021. To the extent the holders of the USAC Preferred Units have not elected to convert their preferred units by the fifth anniversary of the issue date, USAC will have the option to redeem all or any portion of the USAC Preferred Units for cash. In addition, at any time on or after the tenth anniversary of the issue date, the holders of the USAC Preferred Units will have the right to require USAC to redeem all or any portion of the USAC Preferred Units, and the Partnership may elect to pay up to 50% of such redemption amount in USAC common units. |
Equity (Notes)
Equity (Notes) | 12 Months Ended |
Dec. 31, 2019 | |
Equity [Abstract] | |
EQUITY | EQUITY: Limited Partner interests are represented by Common Units and other classes of units described below, as well as Series A Preferred Units, Series B Preferred Units, Series C Preferred Units, Series D Preferred Units, Series E Preferred Units, Series F Preferred Units, and Series G Preferred Units that entitle the holders thereof to the rights and privileges specified in the Partnership Agreement. No person is entitled to preemptive rights in respect of issuances of equity securities by us, except that ETP GP has the right, in connection with the issuance of any equity security by us, to purchase equity securities on the same terms as equity securities are issued to third parties sufficient to enable ETP GP and its affiliates to maintain the aggregate percentage equity interest in us as ETP GP and its affiliates owned immediately prior to such issuance. Class K Units As of December 31, 2019, a total of 101.5 million Class K Units were held by wholly-owned subsidiaries of ETO. Each Class K Unit is entitled to a quarterly cash distribution of $0.67275 per Class K Unit prior to ETO making distributions of available cash to any class of units, excluding any cash available distributions or dividends or capital stock sales proceeds received by ETO from ETP Holdco. If the Partnership is unable to pay the Class K Unit quarterly distribution with respect to any quarter, the accrued and unpaid distributions will accumulate until paid and any accumulated balance will accrue 1.5% per annum until paid. Class L Units On December 31, 2018, ETO issued a new class of limited partner interests titled Class L Units to two wholly-owned subsidiaries of the Partnership when the Partnership’s previously outstanding Class E units and Class G units held by such subsidiaries were converted into Class L Units. As a result of the conversion, the Class E units and Class G units were cancelled. The Class L Units generally do not have any voting rights. The Class L Units are entitled to aggregate cash distributions equal to 7.65% per annum of the total amount of cash generated by us and our subsidiaries, other than ETP Holdco, and available for distribution. Distributions shall be paid quarterly, in arrears, within 45 days after the end of each quarter. As the Class L Units are owned by a wholly-owned subsidiary, the cash distributions on those units are eliminated in our consolidated financial statements. Class M Units On July 1, 2019, ETO issued 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 Panhandle to the Partnership. The Class M Units generally do not have any voting rights. The Class M Units are entitled to aggregate cash distributions equal to 8.00% per annum of the total amount of cash generated by us and our subsidiaries, other than ETP Holdco, and available for distribution. 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. ETO Preferred Units In November 2017, ETO issued 950,000 of its 6.250% Series A Preferred Units at a price of $1,000 per unit and 550,000 of its 6.625% Series B Preferred Units at a price of $1,000 per unit. In April 2018, ETO issued 18 million of its 7.375% Series C Preferred Units at a price of $25 per unit. In July 2018, ETO issued 17.8 million of its 7.625% Series D Preferred Units at a price of $25 per unit. In April 2019, ETO issued 32 million of its 7.600% Series E Preferred Units at a price of $25 per unit. As of December 31, 2019 all of our Series A, Series B, Series C, Series D and Series E Preferred Units issued remain outstanding. 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 years ended December 31, 2019, 2018 and 2017 were as follows: Preferred Unitholders Series A Series B Series C Series D Series E Total Balance, December 31, 2016 $ — $ — $ — $ — $ — $ — Distributions to partners — — — — — — Partnership units issued for cash 937 542 — — — 1,479 Other, net — — — — — — Net income 7 5 — — — 12 Balance, December 31, 2017 944 547 — — — 1,491 Distributions to partners (44 ) (27 ) (18 ) (11 ) — (100 ) Partnership units issued for cash — — 436 431 — 867 Other, net (1 ) — (1 ) (1 ) — (3 ) Net income 59 36 23 15 — 133 Balance, December 31, 2018 958 556 440 434 — 2,388 Distributions to partners (59 ) (37 ) (33 ) (34 ) (34 ) (197 ) Partnership units issued for cash — — — — 780 780 Other, net — — — — (1 ) (1 ) Net income 59 37 33 34 41 204 Balance, December 31, 2019 $ 958 $ 556 $ 440 $ 434 $ 786 $ 3,174 ETO Series A Preferred Units Distributions on the Series A Preferred Units will accrue and be cumulative from and including the date of original issue to, but excluding, February 15, 2023, at a rate of 6.250% per annum of the stated liquidation preference of $1,000 . On and after February 15, 2023, distributions on the Series A Preferred Units will accumulate at a percentage of the $1,000 liquidation preference equal to an annual floating rate of the three-month LIBOR, determined quarterly, plus a spread of 4.028% per annum. The Series A Preferred Units are redeemable at ETO’s option on or after February 15, 2023 at a redemption price of $1,000 per Series A Preferred Unit, plus an amount equal to all accumulated and unpaid distributions thereon to, but excluding, the date of redemption. ETO Series B Preferred Units Distributions on the Series B Preferred Units will accrue and be cumulative from and including the date of original issue to, but excluding, February 15, 2028, at a rate of 6.625% per annum of the stated liquidation preference of $1,000 . On and after February 15, 2028, distributions on the Series B Preferred Units will accumulate at a percentage of the $1,000 liquidation preference equal to an annual floating rate of the three-month LIBOR, determined quarterly, plus a spread of 4.155% per annum. The Series B Preferred Units are redeemable at ETO’s option on or after February 15, 2028 at a redemption price of $1,000 per Series B Preferred Unit, plus an amount equal to all accumulated and unpaid distributions thereon to, but excluding, the date of redemption. ETO Series C Preferred Units Distributions on the Series C Preferred Units will accrue and be cumulative from and including the date of original issue to, but excluding, May 15, 2023, at a rate of 7.375% per annum of the stated liquidation preference of $25 . On and after May 15, 2023, distributions on the Series C 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 4.530% per annum. The Series C Preferred Units are redeemable at ETO’s option on or after May 15, 2023 at a redemption price of $25 per Series C Preferred Unit, plus an amount equal to all accumulated and unpaid distributions thereon to, but excluding, the date of redemption. ETO Series D Preferred Units Distributions on the Series D Preferred Units will accrue and be cumulative from and including the date of original issue to, but excluding, August 15, 2023, at a rate of 7.625% per annum of the stated liquidation preference of $25 . On and after August 15, 2023, distributions on the Series D 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 4.738% per annum. The Series D Preferred Units are redeemable at ETO’s option on or after August 15, 2023 at a redemption price of $25 per Series D Preferred Unit, plus an amount equal to all accumulated and unpaid distributions thereon to, but excluding, the date of redemption. ETO Series E Preferred Units 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. ETO Series F Preferred Units On January 22, 2020, the Partnership issued 500,000 of its 6.750% Series F Fixed-Rate Reset Cumulative Redeemable Perpetual Preferred Units representing limited partner interest in the Partnership, at a price to the public of $1,000 per unit. Distributions on the Series F Preferred Units are cumulative from and including the original issue date and will be payable semi-annually in arrears on the 15th day of May and November of each year, commencing on May 15, 2020 to, but excluding, May 15, 2025, at a rate equal to 6.750% per annum of the $1,000 liquidation preference. On and after May 15, 2025, the distribution rate on the Series F Preferred Units will equal a percentage of the $1,000 liquidation preference equal to the five-year U.S. treasury rate plus a spread of 5.134% per annum. The Series F Preferred Units are redeemable at ETO’s option on or after May 15, 2025 at a redemption price of $1,000 per Series F Preferred Unit, plus an amount equal to all accumulated and unpaid distributions thereon to, but excluding, the date of redemption. ETO Series G Preferred Units On January 22, 2020, the Partnership issued 1,100,000 of its 7.125% Series G Fixed-Rate Reset Cumulative Redeemable Perpetual Preferred Units representing limited partner interest in the Partnership, at a price to the public of $1,000 per unit. Distributions on the Series G Preferred Units are cumulative from and including the original issue date and will be payable semi-annually in arrears on the 15th day of May and November of each year, commencing on May 15, 2020 to, but excluding, May 15, 2030, at a rate equal to 7.125% per annum of the $1,000 liquidation preference. On and after May 15, 2030, the distribution rate on the Series G Preferred Units will equal a percentage of the $1,000 liquidation preference equal to the five-year U.S. treasury rate plus a spread of 5.306% per annum. The Series G Preferred Units are redeemable at ETO’s option on or after May 15, 2030 at a redemption price of $1,000 per Series G Preferred Unit, plus an amount equal to all accumulated and unpaid distributions thereon to, but excluding, the date of redemption. PennTex Tender Offer and Limited Call Right Exercise In June 2017, ETO purchased all of the outstanding PennTex common units not previously owned by ETO for $20.00 per common unit in cash. ETO now owns all of the economic interests of PennTex, and PennTex common units are no longer publicly traded or listed on the NASDAQ. Subsidiary Equity Transactions Sunoco LP’s Common Unit Repurchase In February 2018, after the record date for Sunoco LP’s fourth quarter 2017 cash distributions, Sunoco LP repurchased 17,286,859 Sunoco LP common units owned by ETO for aggregate cash consideration of approximately $540 million . ETO used the proceeds from the sale of the Sunoco LP common units to repay amounts outstanding under its revolving credit facility. Sunoco LP’s Equity Distribution Program Sunoco LP is party to an equity distribution agreement for an at-the-market (“ATM”) offering pursuant to which Sunoco LP may sell its common units from time to time. For the years ended December 31, 2019 and 2018, Sunoco LP issued no units under its ATM program. For the year ended December 31, 2017 , Sunoco LP issued an additional 1.3 million units with total net proceeds of $33 million , net of commissions of $0.3 million . As of December 31, 2019 , $295 million of Sunoco LP common units remained available to be issued under the currently effective equity distribution agreement. Sunoco LP’s Series A Preferred Units On March 30, 2017, the Partnership purchased 12.0 million Sunoco LP Series A Preferred Units representing limited partner interests in Sunoco LP in a private placement transaction for an aggregate purchase price of $300 million . The distribution rate of the Sunoco LP Series A Preferred Units is 10.00% , per annum, of the $25.00 liquidation preference per unit until March 30, 2022, at which point the distribution rate will become a floating rate of 8.00% plus three-month LIBOR of the liquidation preference. In January 2018, Sunoco LP redeemed all outstanding Sunoco LP Series A Preferred Units held by ET for an aggregate redemption amount of approximately $313 million . The redemption amount included the original consideration of $300 million and a 1% call premium plus accrued and unpaid quarterly distributions. USAC’s Distribution Reinvestment Program During the year ended December 31, 2019 and 2018 , distributions of $1 million and $0.6 million , respectively, were reinvested under the USAC distribution reinvestment program resulting in the issuance of approximately 60,584 and 39,280 USAC common units, respectively. USAC’s Warrant Private Placement On April 2, 2018, USAC issued two tranches of warrants to purchase USAC common units (the “USAC Warrants”), which included USAC Warrants to purchase 5,000,000 common units with a strike price of $17.03 per unit and USAC Warrants to purchase 10,000,000 common units with a strike price of $19.59 per unit. The USAC Warrants may be exercised by the holders thereof at any time beginning on the one year anniversary of the closing date and before the tenth anniversary of the closing date. Upon exercise of the USAC Warrants, USAC may, at its option, elect to settle the USAC Warrants in common units on a net basis. USAC’s Class B Units The USAC Class B Units, all of which are owned by ETO, are a new class of partnership interests of USAC that have substantially all of the rights and obligations of a USAC common unit, except the USAC Class B Units will not participate in distributions for the first four quarters following the closing date of the USAC Transaction on April 2, 2018. Each USAC Class B Unit automatically converted into one USAC common unit on the first business day following the record date attributable to the quarter ending June 30, 2019. 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 participate in distributions declared by USAC. Cash Distributions ETO Preferred Unit Distributions Distributions on the Partnership’s Series A, Series B, Series C, Series D and Series E preferred units declared and/or paid by the Partnership were as follows: Period Ended Record Date Payment Date Series A (1) Series B (1) Series C Series D Series E December 31, 2017 February 1, 2018 February 15, 2018 $ 15.4510 * $ 16.3780 * $ — $ — $ — June 30, 2018 August 1, 2018 August 15, 2018 31.2500 33.1250 0.5634 * — — September 30, 2018 November 1, 2018 November 15, 2018 — — 0.4609 0.5931 * — December 31, 2018 February 1, 2019 February 15, 2019 31.2500 33.1250 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 31.2500 33.1250 0.4609 0.4766 0.5806 * September 30, 2019 November 1, 2019 November 15, 2019 — — 0.4609 0.4766 0.4750 December 31, 2019 February 3, 2020 February 18, 2020 31.2500 33.1250 0.4609 0.4766 0.4750 * Represent prorated initial distributions. Prorated initial distributions on the recently issued Series F and Series G preferred units will be payable in May 2020. (1) Series A Preferred Units and Series B Preferred Unit distributions are paid on a semi-annual basis. Sunoco LP Cash Distributions The following table illustrates the percentage allocations of available cash from operating surplus between Sunoco LP’s common unitholders and the holder of its IDRs based on the specified target distribution levels, after the payment of distributions to Class C unitholders. The amounts set forth under “marginal percentage interest in distributions” are the percentage interests of the IDR holder and the common unitholders in any available cash from operating surplus which Sunoco LP distributes up to and including the corresponding amount in the column “total quarterly distribution per unit target amount.” The percentage interests shown for common unitholders and IDR holder for the minimum quarterly distribution are also applicable to quarterly distribution amounts that are less than the minimum quarterly distribution. Marginal Percentage Interest in Distributions Total Quarterly Distribution Target Amount Common Unitholders Holder of IDRs Minimum Quarterly Distribution $0.4375 100% —% First Target Distribution $0.4375 to $0.503125 100% —% Second Target Distribution $0.503125 to $0.546875 85% 15% Third Target Distribution $0.546875 to $0.656250 75% 25% Thereafter Above $0.656250 50% 50% Distributions on Sunoco LP’s units declared and/or paid by Sunoco LP were as follows: Quarter Ended Record Date Payment Date Rate December 31, 2016 February 13, 2017 February 21, 2017 $ 0.8255 March 31, 2017 May 9, 2017 May 16, 2017 0.8255 June 30, 2017 August 7, 2017 August 15, 2017 0.8255 September 30, 2017 November 7, 2017 November 14, 2017 0.8255 December 31, 2017 February 6, 2018 February 14, 2018 0.8255 March 31, 2018 May 7, 2018 May 15, 2018 0.8255 June 30, 2018 August 7, 2018 August 15, 2018 0.8255 September 30, 2018 November 6, 2018 November 14, 2018 0.8255 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 December 31, 2019 February 7, 2020 February 19, 2020 0.8255 USAC Cash Distributions Subsequent to the Energy Transfer Merger and USAC Transactions described in Note 1 and Note 3 , respectively, ETO owned approximately 39.7 million USAC common units and 6.4 million USAC Class B units. Subsequent to the conversion of the USAC Class B Units to USAC common units on July 30, 2019, ETO owns approximately 46.1 million USAC common units. As of December 31, 2019 , USAC had approximately 96.6 million common units outstanding. USAC currently has a non-economic general partner interest and no outstanding IDRs. Distributions on USAC’s units declared and/or paid by USAC subsequent to the USAC transaction on April 2, 2018 were as follows: Quarter Ended Record Date Payment Date Rate March 31, 2018 May 1, 2018 May 11, 2018 $ 0.5250 June 30, 2018 July 30, 2018 August 10, 2018 0.5250 September 30, 2018 October 29, 2018 November 09, 2018 0.5250 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 December 31, 2019 January 27, 2020 February 7, 2020 0.5250 Accumulated Other Comprehensive Income The following table presents the components of AOCI, net of tax: December 31, 2019 2018 Available-for-sale securities $ 13 $ 2 Foreign currency translation adjustment (5 ) (5 ) Actuarial loss related to pensions and other postretirement benefits (25 ) (48 ) Investments in unconsolidated affiliates, net (1 ) 9 Total AOCI, net of tax $ (18 ) $ (42 ) The table below sets forth the tax amounts included in the respective components of other comprehensive income: December 31, 2019 2018 Available-for-sale securities $ (1 ) $ (1 ) Foreign currency translation adjustment 2 2 Actuarial loss relating to pension and other postretirement benefits 8 12 Total $ 9 $ 13 |
Unit-Based Compensation Plans (
Unit-Based Compensation Plans (Notes) | 12 Months Ended |
Dec. 31, 2019 | |
Deferred Compensation Arrangements [Abstract] | |
UNIT-BASED COMPENSATION PLANS | NON-CASH COMPENSATION PLANS: ETO Long-Term Incentive Plan We have previously issued equity incentive plans for employees, officers and directors, which provide for various types of awards, including options to purchase ETO Common Units, restricted units, phantom units, distribution equivalent rights (“DERs”), Common Unit appreciation rights, and other unit-based awards. The Partnership does not currently have any equity compensation plans. In connection with the Energy Transfer Merger in October 2018, all of the Partnership’s equity compensation plans, as well as the Partnership’s obligations under those plans, were assumed by ET. The Partnership recorded stock compensation expenses of $111 million, $105 million and $99 million for the years ended December 31, 2019, 2018 and 2017, respectively. Subsidiary Long-Term Incentive Plans Each of Sunoco LP and USAC has granted restricted or phantom unit awards (collectively, the “Subsidiary Unit Awards”) to employees and directors that entitle the grantees to receive common units of the respective subsidiary. In some cases, at the discretion of the respective subsidiary’s compensation committee, the grantee may instead receive an amount of cash equivalent to the value of common units upon vesting. Substantially all of the Subsidiary Unit Awards are time-vested grants, which generally vest over a three or five-year period, that entitles the grantees of the unit awards to receive an amount of cash equal to the per unit cash distributions made by the respective subsidiaries during the period the restricted unit is outstanding. The following table summarizes the activity of the Subsidiary Unit Awards: Sunoco LP USAC Number of Units Weighted Average Grant-Date Fair Value Per Unit Number of Units Weighted Average Grant-Date Fair Value Per Unit Unvested awards as of December 31, 2018 2.1 $ 29.15 1.4 $ 14.98 Awards granted 0.7 30.70 0.7 15.88 Awards vested (0.5 ) 30.04 (0.3 ) 13.06 Awards forfeited (0.2 ) 28.16 — 16.78 Unvested awards as of December 31, 2019 2.1 29.21 1.8 15.09 The following table summarizes the weighted average grant-date fair value per unit award granted: Years Ended December 31, 2019 2018 2017 Sunoco LP $ 30.70 $ 27.67 $ 28.31 USAC 15.88 15.47 N/A The total fair value of Subsidiary Unit Awards vested for the years ended December 31, 2019, 2018 and 2017 was $17 million , $22 million and $9 million , respectively, based on the market price of Sunoco LP and USAC common units as of the vesting date for the years ended December 31, 2019 and 2018 and Sunoco LP for the year ended December 31, 2017. As of December 31, 2019 , estimated compensation cost related to Subsidiary Unit Awards not yet recognized was $57 million , and the weighted average period over which this cost is expected to be recognized in expense is 3.6 years. |
Income Taxes
Income Taxes | 12 Months Ended |
Dec. 31, 2019 | |
Income Tax Disclosure [Abstract] | |
Income Tax Disclosure [Text Block] | INCOME TAXES: As a partnership, we are not subject to United States federal income tax and most state income taxes. However, the Partnership conducts certain activities through corporate subsidiaries which are subject to federal and state income taxes. The components of the federal and state income tax expense (benefit) of our taxable subsidiaries were summarized as follows: Years Ended December 31, 2019 2018 2017 Current expense (benefit): Federal $ (20 ) $ (7 ) $ 53 State (1 ) 20 (16 ) Total (21 ) 13 37 Deferred expense (benefit): Federal 176 183 (2,025 ) State 45 (191 ) 184 Total 221 (8 ) (1,841 ) Total income tax expense (benefit) $ 200 $ 5 $ (1,804 ) Historically, our effective tax rate has differed 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. A reconciliation of income tax expense at the United States statutory rate to the Partnership’s income tax benefit for the years ended December 31, 2019 , 2018 and 2017 is as follows: Years Ended December 31, 2019 2018 2017 Income tax expense at United States statutory rate $ 1,131 $ 849 $ 402 Increase (reduction) in income taxes resulting from: Partnership earnings not subject to tax (940 ) (718 ) (626 ) Federal rate change — — (1,784 ) Goodwill impairments — — 208 State income taxes (net of federal income tax effects) 14 (125 ) 123 Dividend received deduction (3 ) (5 ) (14 ) Change in tax status of subsidiary — — (124 ) Other (2 ) 4 11 Income tax expense (benefit) $ 200 $ 5 $ (1,804 ) Deferred taxes result from the temporary differences between financial reporting carrying amounts and the tax basis of existing assets and liabilities. The table below summarizes the principal components of the deferred tax assets (liabilities) as follows: December 31, 2019 2018 Deferred income tax assets: Net operating losses, alternative minimum tax credit and other carryforwards $ 669 $ 768 Pension and other postretirement benefits — 34 Long-term debt — 13 Other 62 181 Total deferred income tax assets 731 996 Valuation allowance (49 ) (96 ) Net deferred income tax assets $ 682 $ 900 Deferred income tax liabilities: Property, plant and equipment $ (258 ) $ (742 ) Investments in affiliates (3,452 ) (2,869 ) Trademarks (72 ) (63 ) Other (13 ) (110 ) Total deferred income tax liabilities (3,795 ) (3,784 ) Net deferred income taxes $ (3,113 ) $ (2,884 ) As of December 31, 2019 , ETP Holdco had a federal net operating loss carryforward of $2.65 billion , of which $1.10 billion will expire in 2031 through 2037 while the remaining can be carried forward indefinitely. As of December 31, 2019, Sunoco Property Company LLC, a corporate subsidiary of Sunoco LP, has no federal net operating loss carryforward. Our corporate subsidiaries have $15 million of federal alternative minimum tax credits at December 31, 2019 , of which $8 million is expected to be reclassified to current income tax receivable in 2020 pursuant to the Tax Cuts and Jobs Act. Our corporate subsidiaries have state net operating loss carryforward benefits of $95 million , net of federal tax, some of which will expire between 2020 and 2038, while others are carried forward indefinitely. A valuation allowance of $49 million is applicable to the state net operating loss carryforward benefits primarily attributable to significant restrictions on their use in the Commonwealth of Pennsylvania. The following table sets forth the changes in unrecognized tax benefits: Years Ended December 31, 2019 2018 2017 Balance at beginning of year $ 624 $ 609 $ 615 Additions attributable to tax positions taken in the current year — 8 — Additions attributable to tax positions taken in prior years 11 7 28 Reduction attributable to tax positions taken in prior years (541 ) — (25 ) Lapse of statute — — (9 ) Balance at end of year $ 94 $ 624 $ 609 As of December 31, 2019 , we have $90 million ( $72 million after federal income tax benefits) related to tax positions which, if recognized, would impact our effective tax rate. Our policy is to accrue interest expense and penalties on income tax underpayments (overpayments) as a component of income tax expense. During 2019 , we recognized interest and penalties of $1 million . At December 31, 2019 , we have interest and penalties accrued of $3 million , net of tax. We appealed the adverse Court of Federal Claims decision against ETC Sunoco regarding the IRS' denial of ethanol blending credits claims under Section 6426 to the Federal Circuit. The Federal Circuit affirmed the CFC's denial on November 1, 2018. ETC Sunoco filed a petition for certiorari with the Supreme Court on May 24, 2019 to review the Federal Circuit's affirmation of the CFC's ruling, and the Court denied Sunoco's petition on October 7, 2019. The petition for certiorari applied to ETC Sunoco's 2004 through 2009 tax years, and 2010 through 2011 are on extension with the IRS through March 30, 2020. 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 consolidated 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 and results of operations. In November 2015, the Pennsylvania Commonwealth Court determined in Nextel Communications v. Commonwealth (“Nextel”) that the Pennsylvania limitation on NOL carryforward deductions violated the uniformity clause of the Pennsylvania Constitution and struck the NOL limitation in its entirety. In October 2017, the Pennsylvania Supreme Court affirmed the decision with respect to the uniformity clause violation; however, the Court reversed with respect to the remedy and instead severed the flat-dollar limitation, leaving the percentage-based limitation intact. Nextel subsequently filed a petition for writ of certiorari with the United States Supreme Court, and this was denied on June 11, 2018. Now certain Pennsylvania taxpayers are proceeding with litigation in Pennsylvania state courts on issues not addressed by the Pennsylvania Supreme Court in Nextel, specifically, whether the Due Process and Equal Protection Clauses of the United States Constitution and the Remedies Clause of the Pennsylvania Constitution require a court to grant the taxpayer relief. ETC Sunoco has recognized approximately $67 million ( $53 million after federal income tax benefits) in tax benefit based on previously filed tax returns and certain previously filed protective claims as relates to its cases currently held pending the Nextel matter. However, based upon the Pennsylvania Supreme Court’s October 2017 decision, and because of uncertainty in the breadth of the application of the decision, we have reserved $34 million ( $27 million after federal income tax benefits) against the receivable. In general, ETO and its subsidiaries are no longer subject to examination by the IRS, and most state jurisdictions, for the 2014 and prior tax years. ETO and its subsidiaries also have various state and local income tax returns in the process of examination or administrative appeal in various jurisdictions. We believe the appropriate accruals or unrecognized tax benefits have been recorded for any potential assessment with respect to these examinations. |
Regulatory Matters, Commitments
Regulatory Matters, Commitments, Contingencies and Environmental Matters (Notes) | 12 Months Ended |
Dec. 31, 2019 | |
Regulatory Matters, Commitments, Contingencies And Environmental Liabilities [Abstract] | |
Commitments Contingencies and Guarantees [Text Block] | 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 funds our proportionate share of capital contributions to its 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: Years Ended December 31, 2019 2018 2017 ROW expense $ 45 $ 46 $ 46 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, 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 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 December 31, 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 December 31, 2019, the Partnership has funded these environmental remediation liabilities through its wholly-owned captive insurance company, based upon actuarially determined estimates for such costs, and these liabilities are included in the total environmental liabilities discussed below under “Environmental Remediation.” In the event that the PES property is sold in connection with the bankruptcy proceeding, it may be necessary for the Partnership to record additional environmental remediation liabilities in the future depending upon the proposed use of such property by the buyer of the property; 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. 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 27, 2016, the Standing Rock Sioux Tribe (“SRST”) filed a lawsuit in the United States District Court for the District of Columbia challenging permits issued by the United States Army Corps of Engineers (“USACE”) permitting Dakota Access, LLC (“Dakota Access”) to cross the Missouri River at Lake Oahe in North Dakota. The case was subsequently amended to challenge an easement issued by the USACE allowing the pipeline to cross land owned by the USACE adjacent to the Missouri River. Dakota Access and the Cheyenne River Sioux Tribe (“CRST”) intervened. Separate lawsuits filed by the Oglala Sioux Tribe (“OST”) and the Yankton Sioux Tribe (“YST”) were consolidated with this action and several individual tribal members intervened (collectively with SRST and CRST, the “Tribes”). Plaintiffs and Defendants filed cross motions for summary judgment, and the parties await a ruling. 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 Mont Belvieu’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, however, 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 Holdings LLC and Sunoco (R&M), LLC (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 December 31, 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 On June 10, 2015, Adrian Dieckman (“Dieckman”), a purported Regency unitholder, filed a class action complaint related to the Regency-ETO merger (the “Regency Merger”) 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. On March 29, 2016, the Delaware Court of Chancery granted the defendants’ motion to dismiss the lawsuit in its entirety. Plaintiff appealed, and the Delaware Supreme Court reversed the judgment of the Court of Chancery. Plaintiff then filed an Amended Verified Class Action Complaint, which defendants moved to dismiss. The Court of Chancery granted in part and denied in part the motions to dismiss, dismissing the claims against all defendants other than Regency GP, LP and Regency GP LLC (the “Regency Defendants”). The Court of Chancery later granted Plaintiff’s unopposed motion for class certification. Trial was held on December 10-16, 2019, and the parties await a ruling from the court. 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. 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. On January 31, 2020, the Texas Supreme Court affirmed the judgment of the Court of Appeals. Rover On November 3, 2017, the State of Ohio and the Ohio Environmental Protection Agency (“Ohio EPA”) filed suit against Rover and other defendants (collectively, the Defendants”) seeking to recover approximately $2.6 million in civil penalties allegedly owed and certain injunctive relief related to permit compliance. The Defendants filed several motions to dismiss, which were granted on all counts. The Ohio EPA appealed, and on December 9, 2019, the Fifth District Court of Appeals entered a unanimous judgment affirming the trial court. The Ohio EPA sought review from the Ohio Supreme Court, which Defendants intend to oppose. Bayou Bridge On January 11, 2018, environmental groups and a trade association filed suit against the U.S. Army Corps of Engineers (“USACE”) in the United States District Court for the Middle District of Louisiana alleging violations of the National Environmental Policy Act, the Clean Water Act, and the Rivers and Harbors Act. ETO, through its subsidiary Bayou Bridge Pipeline, LLC (“Bayou Bridge”), intervened. In February 2018, the District Court initially granted Plaintiffs’ motion for a preliminary injunction, but the Fifth Circuit Court of Appeals subsequently vacated that decision. The Fifth Circuit’s ruling allowed construction to continue and be completed during the pendency of the case. Plaintiffs filed a second motion for preliminary injunction in January 2019, which was denied. Plaintiffs and Defendants filed cross motions for summary judgment, and the parties await a ruling. Revolution On September 10, 2018, a pipeline release and fire (the “Incident”) occurred on the Revolution pipeline, a natural gas gathering line located in Center Township, Beaver County, Pennsylvania. There were no injuries. On February 8, 2019, the Pennsylvania Department of Environmental Protection (“PADEP”) issued a Permit Hold on any requests for approvals/permits or permit amendments for any project 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 January 3, 2020, the Partnership entered into a Consent Order and Agreement with the Department in which, among other things, the Permit Hold was lifted, the Partnership agreed to pay a $28.6 million civil penalty and fund a $2 million community environmental project, and all related appeals were withdrawn. 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 former Chester County District Attorney (“DA”) sent a letter to the Partnership stating that his office 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, which has issued subpoenas seeking documents and testimony. On September 24, 2019, the former DA sent a Notice of Intent to the Partnership of its intent to pursue an abatement action if certain conditions were not remediated. The Partnership responded to the Notice of Intent within the proscribed time period. To date, the Partnership is not aware of any further action with regard to this Notice. In December 2019, the former DA announced charges against a current employee related to the provision of security services. The Partnership has secured independent counsel for the employee. While the Partnership will continue to cooperate with the investigation, it intends to vigorously defend itself. Delaware County, Pennsylvania Investigation On March 11, 2019, the Delaware County District Attorney’s Office (“DA”) announced that the DA and the Pennsylvania Attorney General’s Office, at the request of the DA, are conducting an investigation of alleged criminal misconduct involving the construction and related activities of the Mariner East pipelines in Delaware County. The Partnership has not been appraised of the specific conduct under investigation. While the Partnership will cooperate with the investigation, it intends to vigorously defend itself. Other Litigation and Contingencies We or our subsidiaries are a party to various legal proceedings and/or regulatory proceedings incidental to our businesses. For each of these matters, we evaluate the merits of the case, our exposure to the matter, possible legal or settlement strategies, the likelihood of an unfavorable outcome and the availability of insurance coverage. If we determine that an unfavorable outcome of a particular matter is probable and can be estimated, we accrue the contingent obligation, as well as any expected insurance recoverable amounts related to the contingency. As of December 31, 2019 and 2018 , accruals of approximately $98 million and $53 million , respectively, were reflected on our consolidated balance sheets related to these contingent obligations. As new information becomes available, our estimates may change. The impact of these changes may have a significant effect on our results of operations in a single period. The outcome of these matters cannot be predicted with certainty and there can be no assurance that the outcome of a particular matter will not result in the payment of amounts that have not been accrued for the matter. Furthermore, we may revise accrual amounts prior to resolution of a particular contingency based on changes in facts and circumstances or changes in the expected outcome. Currently, we are not able to estimate possible losses or a range of possible losses in excess of amounts accrued. In addition, other legal proceedings exist that are considered reasonably possible to result in unfavorable outcomes. For those where possible losses can be estimated, the range of possible losses related to these contingent obligations is estimated to be up to $80 million ; however, no accruals have been recorded as of December 31, 2019 . Environmental Matters Our operations are subject to extensive federal, tribal, state and local environmental and safety laws and regulations that require expenditures to ensure compliance, including related to air emissions and wastewater discharges, at operating facilities and for remediation at current and former facilities as well as waste disposal sites. Historically, our environmental compliance costs have not had a material adverse effect on our results of operations but there can be no assurance that such costs will not be material in the future or that such future compliance with existing, amended or new legal requirements will not have a material adverse effect on our business and operating results. Costs of planning, designing, constructing and operating pipelines, plants and other facilities must incorporate compliance with environmental laws and regulations and safety standards. Failure to comply with these laws and regulations may result in the assessment of administrative, civil and criminal penalties, the imposition of investigatory, remedial and corrective action obligations, natural resource damages, the issuance of injunctions in affected areas and the filing of federally authorized citizen suits. Contingent losses related to all significant known environmental matters have been accrued and/or separately disclosed. However, we may revise accrual amounts prior to resolution of a particular contingency based on changes in facts and circumstances or changes in the expected outcome. Environmental exposures and liabilities are difficult to assess and estimate due to unknown factors such as the magnitude of possible contamination, the timing and extent of remediation, the determination of our liability in proportion to other parties, improvements in cleanup technologies and the extent to which environmental laws and regulations may change in the future. Although environmental costs may have a significant impact on the results of operations for any single period, we believe that such costs will not have a material adverse effect on our financial position. Based on information available at this time and reviews undertaken to identify potential exposure, we believe the amount reserved for environmental matters is adequate to cover the potential exposure for cleanup costs. In February 2017, we received letters from the DOJ on behalf of EPA and Louisiana Department of Environmental Quality (“LDEQ”) notifying SPLP and Mid-Valley that enforcement actions were being pursued for three separate crude oil releases: (a) an estimated 550 barrels released from the Colmesneil-to-Chester pipeline in Tyler County, Texas (“Colmesneil”) which allegedly occurred in February 2013; (b) an estimated 4,509 barrels released from the Longview-to-Mayersville pipeline in Caddo Parish, Louisiana (a/k/a Milepost 51.5) which allegedly occurred in October 2014; and (c) an estimated 40 barrels released from the Wakita 4-inch gathering line in Oklahoma which allegedly occurred in January 2015. In January 2019, a Consent Decree approved by all parties as well as an accompanying Complaint was filed in the United States District Court for the Western District of Louisiana seeking public comment and final court approval to resolve all penalties with DOJ and LDEQ for the three releases. Subsequently, the court approved the Consent Decree and the penalty payment of $5.4 million was satisfied. The Consent Decree requires certain injunctive relief to be completed on the Longview-to-Mayersville pipeline within three years but the injunctive relief is not expected to have any material impact on operations. In addition to resolution of the civil penalty and injunctive relief, we continue to discuss natural resource damages with the Louisiana trustees related to the Caddo Parish, Louisiana release. In October 2018, Pipeline Hazardous Materials Safety Administration (“PHMSA”) issued a notice of proposed safety order (the “Notice”) to SPMT, a wholly owned subsidiary of ETO. The Notice alleged that conditions exist on certain pipeline facilities owned and operated by SPMT in Nederland, Texas that pose a pipeline integrity risk to public safety, property or the environment. The Notice also made preliminary findings of fact and proposed corrective measures. SPMT responded to the Notice by submitting a timely written response on November 2, 2018, attended an informal consultation held on January 30, 2019 and entered into a consent agreement with PHMSA resolving the issues in the Notice as of March 2019. SPMT is currently awaiting response from PHMSA regarding the approval status of the submitted Remedial Work Plan. On June 4, 2019, the Oklahoma Corporation Commission’s (“OCC”) Transportation Division filed a complaint against SPLP seeking a penalty of up to $1 million related to a May 2018 rupture near Edmond, Oklahoma. The release occurred on the Noble to Douglas 8” pipeline in an area of external corrosion and caused the release of approximately fifteen barrels of crude oil. SPLP responded immediately to the release and remediated the surrounding environment and pipeline in cooperation with the OCC. The OCC filed the complaint alleging that SPLP failed to provide adequate cathodic protection to the pipeline causing the failure. SPLP is negotiating a settlement agreement with the OCC for a lesser penalty. The OCC has accepted our counter offer in conjunction with a proposed consent order. The Consent Order will be presented to the OCC at a final hearing the date of which is to be determined. Environmental Remediation Our subsidiaries are responsible for environmental remediation at certain sites, including the following: • certain of our interstate pipelines conduct soil and groundwater remediation related to contamination from past uses of PCBs. PCB assessments are ongoing and, in some cases, our subsidiaries could be contractually responsible for contamination caused by other parties. • certain gathering and processing systems are responsible for soil and groundwater remediation related to releases of hydrocarbons. • legacy sites related to Sunoco that are subject to environmental assessments, including formerly owned terminals and other logistics assets, retail sites that Sunoco no longer operates, closed and/or sold refineries and other formerly owned sites. Sunoco is potentially subject to joint and several liability for the costs of remediation at sites at which it has been identified as a potentially responsible party (“PRP”). As of December 31, 2019 , Sunoco had been named as a PRP at approximately 40 identified or potentially identifiable “Superfund” sites under federal and/or comparable state law. Sunoco is usually one of a number of companies identified as a PRP at a site. Sunoco has reviewed the nature and extent of its involvement at each site and other relevant circumstances and, based upon Sunoco’s purported nexus to the sites, believes that its potential liability associated with such sites will not be significant. To the extent estimable, expected remediation costs are included in the amounts recorded for environmental matters in our consolidated balance sheets. In some circumstances, future costs cannot be reasonably estimated because remediation activities are undertaken as claims are made by customers and former customers. To the extent that an environmental remediation obligation is recorded by a subsidiary that applies regulatory accounting policies, amounts that are expected to be recoverable through tariffs or rates are recorded as regulatory assets on our consolidated balance sheets. 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. December 31, 2019 2018 Current $ 43 $ 42 Non-current 274 295 Total environmental liabilities $ 317 $ 337 We have established a wholly-owned captive insurance company to bear certain risks associated with environmental obligations related to certain sites that are no longer operating. The premiums paid to the captive insurance company include estimates for environmental claims that have been incurred but not reported, based on an actuarially determined fully developed claims expense estimate. In such cases, we accrue losses attributable to unasserted claims based on the discounted estimates that are used to develop the premiums paid to the captive insurance company. During the years ended December 31, 2019 and 2018 , the Partnership recorded $39 million and $48 million , respectively, of expenditures related to environmental cleanup programs. Our pipeline operations are subject to regulation by the United States Department of Transportation under PHMSA, pursuant to which PHMSA has established requirements relating to the design, installation, testing, construction, operation, replacement and management of pipeline facilities. Moreover, PHMSA, through the Office of Pipeline Safety, has promulgated a rule requiring pipeline operators to develop integrity management programs to comprehensively evaluate their pipelines, and take measures to protect pipeline segments located in what the rule refers to as “high consequence areas.” Activities under these integrity management programs involve the performance of internal pipeline inspections, pressure testing or other effective means to assess the integrity of these regulated pipeline segments, and the regulations require prompt action to address integrity issues raised by the assessment and analysis. Integrity testing and assessment of all of these assets will continue, and the potential exists that results of such testing and assessment could cause us to incur future capital and operating expenditures for repairs or upgrades deemed necessary to ensure the continued safe and reliable operation of our pipelines; however, no estimate can be made at this time of the likely range of such expenditures. Our operations are also subject to the requirements of OSHA, and comparable state laws that regulate the protection of the health and safety of employees. In addition, the Occupational Safety and Health Administration’s hazardous communication standard requires that information be maintained about hazardous materials used or produced in our operations and that this information be provided to employees, state and local government authorities and citizens. We believe that our past costs for OSHA required activities, including general industry standards, record keeping requirements, and monitoring of occupational exposure to regulated substances have not had a material adverse effect on our results of operations but there is no assurance that such costs will not be material in the future. |
Revenue (Notes)
Revenue (Notes) | 12 Months Ended |
Dec. 31, 2019 | |
Revenue [Abstract] | |
Revenue from Contract with Customer [Text Block] | REVENUE: The following disclosures discuss the Partnership’s revised revenue recognition policies upon the adoption of ASU 2014-09 on January 1, 2018. These policies were applied to the amounts reflected in the Partnership’s consolidated financial statements for the years ended December 31, 2019 and 2018 , while the amounts reflected in the Partnership’s consolidated financial statements for the year ended December 31, 2017 were recorded under the Partnership’s previous accounting policies. Disaggregation of revenue The major types of revenue within our reportable segments, are as follows: • 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 ; • fuel distribution and marketing; • all other; • investment in USAC ; • contract operations; • retail parts and services; and • all other . Note 16 depicts the disaggregation of revenue by segment, with revenue amounts reflected in accordance with ASC Topic 606 for 2019 and 2018 and ASC Topic 605 for 2017 . Intrastate transportation and storage revenue Our intrastate transportation and storage segment’s revenues are determined primarily by the volume of capacity our customers reserve as well as the actual volume of natural gas that flows through the transportation pipelines or that is injected or withdrawn into or out of our storage facilities. Firm transportation and storage contracts require customers to pay certain minimum fixed fees regardless of the volume of commodity they transport or store. These contracts typically include a variable incremental charge based on the actual volume of transportation commodity throughput or stored commodity injected/withdrawn. Under interruptible transportation and storage contracts, customers are not required to pay any fixed minimum amounts, but are instead billed based on actual volume of commodity they transport across our pipelines or inject/withdraw into or out of our storage facilities. Payment for services under these contracts are typically due the month after the services have been performed. The performance obligation with respect to firm contracts is a promise to provide a single type of service (transportation or storage) daily over the life of the contract, which is fundamentally a “stand-ready” service. While there can be multiple activities required to be performed, these activities are not separable because such activities in combination are required to successfully transfer the overall service for which the customer has contracted. The fixed consideration of the transaction price is allocated ratably over the life of the contract and revenue for the fixed consideration is recognized over time, because the customer simultaneously receives and consumes the benefit of this “stand-ready” service. Incremental fees associated with actual volume for each respective period are recognized as revenue in the period the incremental volume of service is performed. The performance obligation with respect to interruptible contracts is also a promise to provide a single type of service, but such promise is made on a case-by-case basis at the time the customer requests the service and we accept the customer’s request. Revenue is recognized for interruptible contracts at the time the services are performed. Our intrastate transportation and storage segment also generates revenues and margin from the sale of natural gas to electric utilities, independent power plants, local distribution companies, industrial end-users and other marketing companies on the HPL System. Generally, we purchase natural gas from the market, including purchases from our marketing operations, and from producers at the wellhead. Interstate transportation and storage revenue Our interstate transportation and storage segment’s revenues are determined primarily by the amount of capacity our customers reserve as well as the actual volume of natural gas that flows through the transportation pipelines or that is injected into or withdrawn out of our storage facilities. Our interstate transportation and storage segment’s contracts can be firm or interruptible. Firm transportation and storage contracts require customers to pay certain minimum fixed fees regardless of the volume of commodity transported or stored. In exchange for such fees, we must stand ready to perform a contractually agreed-upon minimum volume of services whenever the customer requests such services. These contracts typically include a variable incremental charge based on the actual volume of transportation commodity throughput or stored commodity injected or withdrawn. Under interruptible transportation and storage contracts, customers are not required to pay any fixed minimum amounts, but are instead billed based on actual volume of commodity they transport across our pipelines or inject into or withdraw out of our storage facilities. Consequently, we are not required to stand ready to provide any contractually agreed-upon volume of service, but instead provides the services based on existing capacity at the time the customer requests the services. Payment for services under these contracts are typically due the month after the services have been performed. The performance obligation with respect to firm contracts is a promise to provide a single type of service (transportation or storage) daily over the life of the contract, which is fundamentally a “stand-ready” service. While there can be multiple activities required to be performed, these activities are not separable because such activities in combination are required to successfully transfer the overall service for which the customer has contracted. The fixed consideration of the transaction price is allocated ratably over the life of the contract and revenue for the fixed consideration is recognized over time, because the customer simultaneously receives and consumes the benefit of this “stand-ready” service. Incremental fees associated with actual volume for each respective period are recognized as revenue in the period the incremental volume of service is performed. The performance obligation with respect to interruptible contracts is also a promise to provide a single type of services, but such promise is made on a case-by-case basis at the time the customer requests the service and we accept the customer’s request. Revenue is recognized for interruptible contracts at the time the services are performed. Lake Charles LNG’s revenues are primarily derived from terminalling services for shippers by receiving LNG at the facility for storage and delivering such LNG to shippers, either in liquid state or gaseous state after regasification. Lake Charles LNG derives all of its revenue from a series of long term contracts with a wholly-owned subsidiary of Royal Dutch Shell plc (“Shell”). Terminalling revenue is generated from fees paid by Shell for storage and other associated services at the terminal. Payment for services under these contracts are typically due the month after the services have been performed. The terminalling agreements are considered to be firm agreements, because they include fixed fee components that are charged regardless of the volumes transported by Shell or services provided at the terminal. The performance obligation with respect to firm contracts is a promise to provide a single type of service (terminalling) daily over the life of the contract, which is fundamentally a “stand-ready” service. While there can be multiple activities required to be performed, these activities are not separable because such activities in combination are required to successfully transfer the overall service for which the customer has contracted. The fixed consideration of the transaction price is allocated ratably over the life of the contract and revenue for the fixed consideration is recognized over time, because the customer simultaneously receives and consumes the benefit of this “stand-ready” service. Incremental fees associated with actual volume for each respective period are recognized as revenue in the period the incremental volume of service is performed. Midstream revenue Our midstream segment’s revenues are derived primarily from margins we earn for natural gas volumes that are gathered, processed, and/or transported. The various types of revenue contracts our midstream segment enters into include: Fixed fee gathering and processing: Contracts under which we provide gathering and processing services in exchange for a fixed cash fee per unit of volume. Revenue for cash fees is recognized when the service is performed. Keepwhole: Contracts under which we gather raw natural gas from a third party producer, process the gas to convert it to pipeline quality natural gas, and redeliver to the producer a thermal-equivalent volume of pipeline quality natural gas. In exchange for these services, we retain the NGLs extracted from the raw natural gas received from the producer as well as cash fees paid by the producer. The value of NGLs retained as well as cash fees is recognized as revenue when the services are performed. Percent of Proceeds (“POP”): Contracts under which we provide gathering and processing services in exchange for a specified percentage of the producer’s commodity (“POP percentage”) and also in some cases additional cash fees. The two types of POP revenue contracts are described below: • In-Kind POP: We retain our POP percentage (non-cash consideration) and also any additional cash fees in exchange for providing the services. We recognize revenue for the non-cash consideration and cash fees at the time the services are performed. • Mixed POP: We purchase NGLs from the producer and retain a portion of the residue gas as non-cash consideration for services provided. We may also receive cash fees for such services. Under Topic 606, these agreements were determined to be hybrid agreements which were partially supply agreements (for the NGLs we purchased) and customer agreements (for the services provided related to the product that was returned to the customer). Given that these are hybrid agreements, we split the cash and non-cash consideration between revenue and a reduction of costs based on the value of the service provided vs. the value of the supply received. Payment for services under these contracts are typically due the month after the services have been performed. The performance obligations with respect to our midstream segment’s contracts are to provide gathering, transportation and processing services, each of which would be completed on or about the same time, and each of which would be recognized on the same line item on the income statement, therefore identification of separate performance obligations would not impact the timing or geography of revenue recognition. Certain contracts of our midstream segment include throughput commitments under which customers commit to purchasing a certain minimum volume of service over a specified time period. If such volume of service is not purchased by the customer, deficiency fees are billed to the customer. In some cases, the customer is allowed to apply any deficiency fees paid to future purchases of services. In such cases, we defer revenue recognition until the customer uses the deficiency fees for 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. Our midstream segment also generates revenues from the sale of residue gas and NGLs at the tailgate of our processing facilities primarily to affiliates and some third-party customers. NGL and refined products transportation and services revenue Our NGL and refined products segment’s revenues are primarily derived from transportation, fractionation, blending, and storage of NGL and refined products as well as acquisition and marketing activities. Revenues are generated utilizing a complementary network of pipelines, storage and blending facilities, and strategic off-take locations that provide access to multiple NGL markets. Transportation, fractionation, and storage revenue is generated from fees charged to customers under a combination of firm and interruptible contracts. Firm contracts are in the form of take-or-pay arrangements where certain fees will be charged to customers regardless of the volume of service they request for any given period. Under interruptible contracts, customers are not required to pay any fixed minimum amounts, but are instead billed based on actual volume of service provided for any given period. Payment for services under these contracts are typically due the month after the services have been performed. The performance obligation with respect to firm contracts is a promise to provide a single type of service (transportation, fractionation, blending, or storage) daily over the life of the contract, which is fundamentally a “stand-ready” service. While there can be multiple activities required to be performed, these activities are not separable because such activities in combination are required to successfully transfer the overall service for which the customer has contracted. The fixed consideration of the transaction price is allocated ratably over the life of the contract and revenue for the fixed consideration is recognized over time, because the customer simultaneously receives and consumes the benefit of this “stand-ready” service. Incremental fees associated with actual volume for each respective period are recognized as revenue in the period the incremental volume of service is performed. The performance obligation with respect to interruptible contracts is also a promise to provide a single type of services, but such promise is made on a case-by-case basis at the time the customer requests the service and we accept the customer’s request. Revenue is recognized for interruptible contracts at the time the services are performed. Acquisition and marketing contracts are in most cases short-term agreements involving purchase and/or sale of NGLs and other related hydrocarbons at market rates. These contracts were not affected by ASC 606. Crude oil transportation and services revenue Our crude oil transportation and services segment revenues are primarily derived from providing transportation, terminalling and acquisition and marketing services to crude oil markets throughout the southwest, midwest and northeastern United States. Crude oil transportation revenue is generated from tariffs paid by shippers utilizing our transportation services and is generally recognized as the related transportation services are provided. Crude oil terminalling revenue is generated from fees paid by customers for storage and other associated services at the terminal. Crude oil acquisition and marketing revenue is generated from sale of crude oil acquired from a variety of suppliers to third parties. Payment for services under these contracts are typically due the month after the services have been performed. Certain transportation and terminalling agreements are considered to be firm agreements, because they include fixed fee components that are charged regardless of the volume of crude oil transported by the customer or services provided at the terminal. For these agreements, any fixed fees billed in excess of services provided are not recognized as revenue until the earlier of (i) the time at which the customer applies the fees against cost of service provided in a later period, or (ii) the customer becomes unable to apply the fees against cost of future service due to capacity constraints or contractual terms. The performance obligation with respect to firm contracts is a promise to provide a single type of service (transportation or terminalling) daily over the life of the contract, which is fundamentally a “stand-ready” service. While there can be multiple activities required to be performed, these activities are not separable because such activities in combination are required to successfully transfer the overall service for which the customer has contracted. The fixed consideration of the transaction price is allocated ratably over the life of the contract and revenue for the fixed consideration is recognized over time, because the customer simultaneously receives and consumes the benefit of this “stand-ready” service. Incremental fees associated with actual volume for each respective period are recognized as revenue in the period the incremental volume of service is performed. The performance obligation with respect to interruptible contracts is also a promise to provide a single type of service, but such promise is made on a case-by-case basis at the time the customer requests the service and/or product and we accept the customer’s request. Revenue is recognized for interruptible contracts at the time the services are performed. Acquisition and marketing contracts are in most cases short-term agreements involving purchase and/or sale of crude oil at market rates. These contracts were not affected by ASC 606. Sunoco LP’s fuel distribution and marketing revenue Sunoco LP’s fuel distribution and marketing operations earn revenue from the following channels: sales to Dealers, sales to Distributors, Unbranded Wholesale Revenue, Commission Agent Revenue, Rental Income and Other Income. Motor fuel revenue consists primarily of the sale of motor fuel under supply agreements with third party customers and affiliates. Fuel supply contracts with Sunoco LP’s customers generally provide that Sunoco LP distribute motor fuel at a formula price based on published rates, volume-based profit margin, and other terms specific to the agreement. The customer is invoiced the agreed-upon price with most payment terms ranging less than 30 days. If the consideration promised in a contract includes a variable amount, Sunoco LP estimates the variable consideration amount and factors in such an estimate to determine the transaction price under the expected value method. Revenue is recognized under the motor fuel contracts at the point in time the customer takes control of the fuel. At the time control is transferred to the customer the sale is considered final, because the agreements do not grant customers the right to return motor fuel. Under the new standard, to determine when control transfers to the customer, the shipping terms of the contract are assessed as shipping terms are considered a primary indicator of the transfer of control. For FOB shipping point terms, revenue is recognized at the time of shipment. The performance obligation with respect to the sale of goods is satisfied at the time of shipment since the customer gains control at this time under the terms. Shipping and/or handling costs that occur before the customer obtains control of the goods are deemed to be fulfillment activities and are accounted for as fulfillment costs. Once the goods are shipped, Sunoco LP is precluded from redirecting the shipment to another customer and revenue is recognized. Commission agent revenue consists of sales from commission agent agreements between Sunoco LP and select operators. Sunoco LP supplies motor fuel to sites operated by commission agents and sells the fuel directly to the end customer. In commission agent arrangements, control of the product is transferred at the point in time when the goods are sold to the end customer. To reflect the transfer of control, Sunoco LP recognizes commission agent revenue at the point in time fuel is sold to the end customer. Sunoco LP receives rental income from leased or subleased properties. Revenue from leasing arrangements for which Sunoco LP is the lessor are recognized ratably over the term of the underlying lease. Sunoco LP’s all other revenue Sunoco LP’s all other operations earn revenue from the following channels: Motor Fuel Sales, Rental Income and Other Income. Motor Fuel Sales consist of fuel sales to consumers at company-operated retail stores. Other income includes merchandise revenue that comprises the in-store merchandise and food service sales at company-operated retail stores, and other revenue that represents a variety of other services within Sunoco LP’s all other operations including credit card processing, car washes, lottery, automated teller machines, money orders, prepaid phone cards and wireless services. Revenue from all other operations is recognized when (or as) the performance obligations are satisfied (i.e. when the customer obtains control of the good or the service is provided). USAC’s contract operations revenue USAC’s revenue from contracted compression, station, gas treating and maintenance services is recognized ratably under its fixed-fee contracts over the term of the contract as services are provided to its customers. Initial contract terms typically range from six months to five years, however USAC usually continues to provide compression services at a specific location beyond the initial contract term, either through contract renewal or on a month-to-month or longer basis. USAC primarily enters into fixed-fee contracts whereby its customers are required to pay the monthly fee even during periods of limited or disrupted throughput. Services are generally billed monthly, one month in advance of the commencement of the service month, except for certain customers who are billed at the beginning of the service month, and payment is generally due 30 days after receipt of the invoice. Amounts invoiced in advance are recorded as deferred revenue until earned, at which time they are recognized as revenue. The amount of consideration USAC receives and revenue it recognizes is based upon the fixed fee rate stated in each service contract. Variable consideration exists in select contracts when billing rates vary based on actual equipment availability or volume of total installed horsepower. USAC’s contracts with customers may include multiple performance obligations. For such arrangements, USAC allocates revenues to each performance obligation based on its relative standalone service fee. USAC generally determine standalone service fees based on the service fees charged to customers or using expected cost plus margin. The majority of USAC’s service performance obligations are satisfied over time as services are rendered at selected customer locations on a monthly basis and based upon specific performance criteria identified in the applicable contract. The monthly service for each location is substantially the same service month to month and is promised consecutively over the service contract term. USAC measures progress and performance of the service consistently using a straight-line, time-based method as each month passes, because its performance obligations are satisfied evenly over the contract term as the customer simultaneously receives and consumes the benefits provided by its service. If variable consideration exists, it is allocated to the distinct monthly service within the series to which such variable consideration relates. USAC has elected to apply the invoicing practical expedient to recognize revenue for such variable consideration, as the invoice corresponds directly to the value transferred to the customer based on its performance completed to date. There are typically no material obligations for returns or refunds. USAC’s standard contracts do not usually include material non-cash consideration. USAC’s retail parts and services revenue USAC’s retail parts and service revenue is earned primarily on freight and crane charges that are directly reimbursable by USAC’s customers and maintenance work on units at its customers’ locations that are outside the scope of its core maintenance activities. Revenue from retail parts and services is recognized at the point in time the part is transferred or service is provided and control is transferred to the customer. At such time, the customer has the ability to direct the use of the benefits of such part or service after USAC has performed its services. USAC bills upon completion of the service or transfer of the parts, and payment is generally due 30 days after receipt of the invoice. The amount of consideration USAC receives and revenue it recognizes is based upon the invoice amount. There are typically no material obligations for returns, refunds, or warranties. USAC’s standard contracts do not usually include material variable or non-cash consideration. All other revenue Our all other segment primarily includes our compression equipment business which provides full-service compression design and manufacturing services for the oil and gas industry. It also includes the management of coal and natural resources properties and the related collection of royalties. We also earn revenues from other land management activities, such as selling standing timber, leasing coal-related infrastructure facilities, and collecting oil and gas royalties. These operations also include end- user coal handling facilities. There were no material changes to the manner in which revenues within this segment are recorded under the new standard. 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 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, January 1, 2018 $ 221 Additions 765 Revenue recognized (592 ) Balance, December 31, 2018 394 Additions 643 Revenue recognized (679 ) Balance, December 31, 2019 $ 358 The balances of receivables from contracts with customers listed in the table below 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 and contract liabilities as of December 31, 2019 and 2018 were as follows: December 31, 2019 December 31, 2018 Contract balances: Contract asset $ 117 $ 75 Accounts receivable from contracts with customers 366 347 Contract liability — 1 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 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 years ended December 31, 2019 and 2018 was $17 million and $14 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 contract consideration it expects to be entitled to, 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 contracts, only the fixed component of the contracts are included in the table below. Sunoco LP distributes fuel under long-term contracts to branded distributors, branded and unbranded third party dealers, and branded and unbranded retail fuel outlets. Sunoco LP branded supply contracts with distributors generally have both time and volume commitments that establish contract duration. These contracts have an initial term of approximately nine years, with an estimated, volume-weighted term remaining of approximately four years. As part of the asset purchase agreement with 7-Eleven, Sunoco LP and 7-Eleven and SEI Fuel (collectively, the “Distributor”) have entered into a 15-year take-or-pay fuel supply agreement in which the Distributor is required to purchase a volume of fuel that provides Sunoco LP a minimum amount of gross profit annually. Sunoco LP expects to recognize this revenue in accordance with the contract as Sunoco LP transfers control of the product to the customer. However, in case of annual shortfall Sunoco LP will recognize the amount payable by the Distributor at the sooner of the time at which the Distributor makes up the shortfall or becomes contractually or operationally unable to do so. The transaction price of the contract is variable in nature, fluctuating based on market conditions. The Partnership has elected to take the practical expedient not to estimate the amount of variable consideration allocated to wholly unsatisfied performance obligations. In some contractual arrangements, Sunoco LP grants dealers a franchise license to operate Sunoco LP’s retail stores over the life of a franchise agreement. In return for the grant of the retail store license, the dealer makes a one-time nonrefundable franchise fee payment to Sunoco LP plus sales based royalties payable to Sunoco LP at a contractual rate during the period of the franchise agreement. Under the requirements of ASC Topic 606, the franchise license is deemed to be a symbolic license for which recognition of revenue over time is the most appropriate measure of progress toward complete satisfaction of the performance obligation. Revenue from this symbolic license is recognized evenly over the life of the franchise agreement. As of December 31, 2019 , the aggregate amount of transaction price allocated to unsatisfied (or partially satisfied) performance obligations is $40.70 billion and the Partnership expects to recognize this amount as revenue within the time bands illustrated below: Years Ending December 31, 2020 2021 2022 Thereafter Total Revenue expected to be recognized on contracts with customers existing as of December 31, 2019 $ 5,913 $ 5,056 $ 4,672 $ 25,059 $ 40,700 Practical Expedients Utilized by the Partnership The Partnership elected the fol |
Lease Accounting (Notes)
Lease Accounting (Notes) | 12 Months Ended |
Dec. 31, 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 December 31, 2019 were as follows: December 31, 2019 Operating leases: Lease right-of-use assets, net $ 848 Operating lease current liabilities 54 Accrued and other current liabilities 1 Non-current operating lease liabilities 816 Finance leases: Property, plant and equipment, net $ 1 Lease right-of-use assets, net 29 Accrued and other current liabilities 1 Current maturities of long-term debt 6 Long-term debt, less current maturities 26 Other non-current liabilities 2 The components of lease expense for the year ended December 31, 2019 were as follows: Income Statement Location Year Ended December 31, 2019 Operating lease costs: Operating lease cost Cost of goods sold $ 28 Operating lease cost Operating expenses 72 Operating lease cost Selling, general and administrative 16 Total operating lease costs 116 Finance lease costs: Amortization of lease assets Depreciation, depletion and amortization 6 Interest on lease liabilities Interest expense, net of capitalized interest 1 Total finance lease costs 7 Short-term lease cost Operating expenses 42 Variable lease cost Operating expenses 17 Lease costs, gross 182 Less: Sublease income Other revenue 47 Lease costs, net $ 135 The weighted average remaining lease terms and weighted average discount rates as of December 31, 2019 were as follows: December 31, 2019 Weighted-average remaining lease term (years): Operating leases 22 Finance leases 5 Weighted-average discount rate (%): Operating leases 5 % Finance leases 5 % Cash flows and non-cash activity related to leases for the year ended December 31, 2019 were as follows: Year Ended December 31, 2019 Operating cash flows from operating leases $ (158 ) Lease assets obtained in exchange for new finance lease liabilities 28 Lease assets obtained in exchange for new operating lease liabilities 39 Maturities of lease liabilities as of December 31, 2019 are as follows: Operating leases Finance leases Total 2020 $ 98 $ 8 $ 106 2021 89 8 97 2022 77 8 85 2023 71 7 78 2024 68 4 72 Thereafter 1,141 5 1,146 Total lease payments 1,544 40 1,584 Less: present value discount 674 5 679 Present value of lease liabilities $ 870 $ 35 $ 905 Lessor Accounting The Partnership leases or subleases a portion of its real estate portfolio to third-party companies as a stable source of long-term revenue. Our 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 year ended December 31, 2019 was $146 million . Future minimum operating lease payments receivable as of December 31, 2019 are as follows: Lease Payments 2020 $ 125 2021 99 2022 62 2023 7 2024 2 Thereafter 7 Total undiscounted cash flows $ 302 |
Derivative assets and liabiltie
Derivative assets and liabilties (Notes) | 12 Months Ended |
Dec. 31, 2019 | |
General Discussion of Derivative Instruments and Hedging Activities [Abstract] | |
DERIVATIVE 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 on 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: December 31, 2019 December 31, 2018 Notional Volume Maturity Notional Volume Maturity Mark-to-Market Derivatives (Trading) Natural Gas (BBtu): Fixed Swaps/Futures 1,483 2020 468 2019 Basis Swaps IFERC/NYMEX (1) (35,208 ) 2020-2024 16,845 2019-2020 Options – Puts — — 10,000 2019 Power (Megawatt): Forwards 3,213,450 2020-2029 3,141,520 2019 Futures (353,527 ) 2020 56,656 2019-2021 Options – Puts 51,615 2020 18,400 2019 Options – Calls (2,704,330 ) 2020-2021 284,800 2019 (Non-Trading) Natural Gas (BBtu): Basis Swaps IFERC/NYMEX (18,923 ) 2020-2022 (30,228 ) 2019-2021 Swing Swaps IFERC (9,265 ) 2020 54,158 2019-2020 Fixed Swaps/Futures (3,085 ) 2020-2021 (1,068 ) 2019-2021 Forward Physical Contracts (13,364 ) 2020-2021 (123,254 ) 2019-2020 NGL (MBbls) – Forwards/Swaps (1,300 ) 2020-2021 (2,135 ) 2019 Crude (MBbls) – Forwards/Swaps 4,465 2020 20,888 2019 Refined Products (MBbls) – Futures (2,473 ) 2020-2021 (1,403 ) 2019 Corn (thousand bushels) (1,210 ) 2020 (1,920 ) 2019 Fair Value Hedging Derivatives (Non-Trading) Natural Gas (BBtu): Basis Swaps IFERC/NYMEX (31,780 ) 2020 (17,445 ) 2019 Fixed Swaps/Futures (31,780 ) 2020 (17,445 ) 2019 Hedged Item – Inventory 31,780 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 December 31, 2019 December 31, 2018 March 2019 Pay a floating rate and receive a fixed rate of 1.42% $ — $ 300 July 2019 (2) Forward-starting to pay a fixed rate of 3.56% and receive a floating rate — 400 July 2020 (2)(3) 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 — (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. (3) The July 2020 interest rate swaps were terminated in January 2020. 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 December 31, 2019 December 31, 2018 December 31, 2019 December 31, 2018 Derivatives designated as hedging instruments: Commodity derivatives (margin deposits) $ 24 $ — $ — $ (13 ) 24 — — (13 ) Derivatives not designated as hedging instruments: Commodity derivatives (margin deposits) 319 402 (350 ) (397 ) Commodity derivatives 41 158 (39 ) (173 ) Interest rate derivatives — — (399 ) (163 ) 360 560 (788 ) (733 ) Total derivatives $ 384 $ 560 $ (788 ) $ (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 December 31, 2019 December 31, 2018 December 31, 2019 December 31, 2018 Derivatives without offsetting agreements Derivative liabilities $ — $ — $ (399 ) $ (163 ) Derivatives in offsetting agreements: OTC contracts Derivative assets (liabilities) 41 158 (39 ) (173 ) Broker cleared derivative contracts Other current assets (liabilities) 343 402 (350 ) (410 ) 384 560 (788 ) (746 ) Offsetting agreements: Counterparty netting Derivative assets (liabilities) (18 ) (47 ) 18 47 Counterparty netting Other current assets (liabilities) (318 ) (397 ) 318 397 Total net derivatives $ 48 $ 116 $ (452 ) $ (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 long-term depending on the anticipated settlement date. The following tables summarize the amounts recognized with respect to our derivative financial instruments: Location of Gain (Loss) Recognized in Income on Derivatives Amount of Gain (Loss) Recognized in Income Representing Hedge Ineffectiveness and Amount Excluded from the Assessment of Effectiveness Years Ended December 31, 2019 2018 2017 Derivatives in fair value hedging relationships (including hedged item): Commodity derivatives Cost of products sold $ — $ (3 ) $ 26 Location of Gain (Loss) Recognized in Income on Derivatives Amount of Gain (Loss) Recognized in Income on Derivatives Years Ended December 31, 2019 2018 2017 Derivatives not designated as hedging instruments: Commodity derivatives – Trading Cost of products sold $ 21 $ 32 $ 31 Commodity derivatives – Non-trading Cost of products sold (78 ) (102 ) 5 Interest rate derivatives Gains (losses) on interest rate derivatives (241 ) 47 (37 ) Embedded derivatives Other, net — — 1 Total $ (298 ) $ (23 ) $ — |
Retirement Benefits (Notes)
Retirement Benefits (Notes) | 12 Months Ended |
Dec. 31, 2019 | |
RETIREMENT BENEFITS | |
Pension and Other Postretirement Benefits Disclosure | RETIREMENT BENEFITS: Savings and Profit Sharing Plans We and our subsidiaries sponsor defined contribution savings and profit sharing plans, which collectively cover virtually all eligible employees, including those of ETO, Lake Charles LNG, Sunoco LP and USAC. Employer matching contributions are calculated using a formula based on employee contributions. We and our subsidiaries made matching contributions of $66 million , $62 million and $59 million to these 401(k) savings plans for the years ended December 31, 2019, 2018 and 2017 , respectively. Pension and Other Postretirement Benefit Plans Panhandle Postretirement benefits expense for the years ended December 31, 2019, 2018 and 2017 reflect the impact of changes Panhandle or its affiliates adopted as of September 30, 2013, to modify its retiree medical benefits program, effective January 1, 2014. The modification placed all eligible retirees on a common medical benefit platform, subject to limits on Panhandle’s annual contribution toward eligible retirees’ medical premiums. Prior to January 1, 2013, affiliates of Panhandle offered postretirement health care and life insurance benefit plans (other postretirement plans) that covered substantially all employees. Effective January 1, 2013, participation in the plan was frozen and medical benefits were no longer offered to non-union employees. Effective January 1, 2014, retiree medical benefits were no longer offered to union employees. Effective January 1, 2018, the plan was amended to extend coverage to a closed group of former employees based on certain criteria. ETC Sunoco ETC Sunoco has a plan which provides health care benefits for substantially all of its current retirees. The cost to provide the postretirement benefit plan is shared by ETC Sunoco. and its retirees. Access to postretirement medical benefits was phased out or eliminated for all employees retiring after July 1, 2010. In March, 2012, ETC Sunoco established a trust for its postretirement benefit liabilities. ETC Sunoco made a tax-deductible contribution of approximately $200 million to the trust. The funding of the trust eliminated substantially all of ETC Sunoco’s future exposure to variances between actual results and assumptions used to estimate retiree medical plan obligations. Obligations and Funded Status Pension and other postretirement benefit liabilities are accrued on an actuarial basis during the years an employee provides services. The following table contains information at the dates indicated about the obligations and funded status of pension and other postretirement plans on a combined basis: December 31, 2019 December 31, 2018 Pension Benefits Pension Benefits Funded Plans Unfunded Plans Other Postretirement Benefits Funded Plans Unfunded Plans Other Postretirement Benefits Change in benefit obligation: Benefit obligation at beginning of period $ 1 $ 37 $ 198 $ 1 $ 47 $ 156 Service cost — — 1 — — 1 Interest cost — 1 7 — 1 5 Amendments — — — — — 60 Benefits paid, net — (7 ) (16 ) — (7 ) (17 ) Actuarial (gain) loss and other — — 18 — (4 ) (7 ) Benefit obligation at end of period 1 31 208 1 37 198 Change in plan assets: Fair value of plan assets at beginning of period 1 — 241 1 — 257 Return on plan assets and other — — 35 — — (8 ) Employer contributions — — 10 — — 9 Benefits paid, net — — (16 ) — — (17 ) Fair value of plan assets at end of period 1 — 270 1 — 241 Amount underfunded (overfunded) at end of period $ — $ 31 $ (62 ) $ — $ 37 $ (43 ) Amounts recognized in the consolidated balance sheets consist of: Non-current assets $ — $ — $ 88 $ — $ — $ 68 Current liabilities — (5 ) (2 ) — (6 ) (2 ) Non-current liabilities — (26 ) (24 ) — (31 ) (23 ) $ — $ (31 ) $ 62 $ — $ (37 ) $ 43 Amounts recognized in accumulated other comprehensive income (loss) (pre-tax basis) consist of: Net actuarial gain (loss) $ — $ 1 $ (5 ) $ — $ 1 $ (7 ) Prior service cost — — 40 — — 66 $ — $ 1 $ 35 $ — $ 1 $ 59 The following table summarizes information at the dates indicated for plans with an accumulated benefit obligation in excess of plan assets: December 31, 2019 December 31, 2018 Pension Benefits Pension Benefits Funded Plans Unfunded Plans Other Postretirement Benefits Funded Plans Unfunded Plans Other Postretirement Benefits Projected benefit obligation $ — $ 31 N/A $ — $ 37 N/A Accumulated benefit obligation 1 31 208 1 37 198 Fair value of plan assets 1 — 270 1 — 241 Components of Net Periodic Benefit Cost December 31, 2019 December 31, 2018 Pension Benefits Other Postretirement Benefits Pension Benefits Other Postretirement Benefits Net periodic benefit cost: Service cost $ — $ 1 $ — $ 1 Interest cost 1 7 1 5 Expected return on plan assets — (10 ) — (10 ) Prior service cost amortization — 26 — 16 Net periodic benefit cost $ 1 $ 24 $ 1 $ 12 Assumptions The weighted-average assumptions used in determining benefit obligations at the dates indicated are shown in the table below: December 31, 2019 December 31, 2018 Pension Benefits Other Postretirement Benefits Pension Benefits Other Postretirement Benefits Discount rate 4.07 % 2.71 % 4.02 % 3.40 % Rate of compensation increase — — N/A N/A The weighted-average assumptions used in determining net periodic benefit cost for the periods presented are shown in the table below: December 31, 2019 December 31, 2018 Pension Benefits Other Postretirement Benefits Pension Benefits Other Postretirement Benefits Discount rate 3.29 % 3.76 % 3.52 % 3.51 % Expected return on assets: Tax exempt accounts 3.26 % 7.00 % 3.26 % 6.63 % Taxable accounts — 4.75 % N/A 4.50 % Rate of compensation increase — — N/A N/A The long-term expected rate of return on plan assets was estimated based on a variety of factors including the historical investment return achieved over a long-term period, the targeted allocation of plan assets and expectations concerning future returns in the marketplace for both equity and fixed income securities. Current market factors such as inflation and interest rates are evaluated before long-term market assumptions are determined. Peer data and historical returns are reviewed to ensure reasonableness and appropriateness. The assumed health care cost trend weighted-average rates used to measure the expected cost of benefits covered by the plans are shown in the table below: December 31, 2019 2018 Health care cost trend rate 7.25 % 7.15 % Rate to which the cost trend is assumed to decline (the ultimate trend rate) 4.83 % 4.82 % Year that the rate reaches the ultimate trend rate 2026 2024 Changes in the health care cost trend rate assumptions are not expected to have a significant impact on postretirement benefits. Plan Assets For the Panhandle plans, the overall investment strategy is to maintain an appropriate balance of actively managed investments with the objective of optimizing longer-term returns while maintaining a high standard of portfolio quality and achieving proper diversification. To achieve diversity within its other postretirement plan asset portfolio, Panhandle has targeted the following asset allocations: equity of 25% to 35% , fixed income of 65% to 75% . The investment strategy of ETC Sunoco funded defined benefit plans is to achieve consistent positive returns, after adjusting for inflation, and to maximize long-term total return within prudent levels of risk through a combination of income and capital appreciation. The objective of this strategy is to reduce the volatility of investment returns and maintain a sufficient funded status of the plans. In anticipation of the pension plan termination, ETC Sunoco targeted the asset allocations to a more stable position by investing in growth assets and liability hedging assets. The fair value of the pension plan assets by asset category at the dates indicated is as follows: Fair Value Measurements at December 31, 2019 Fair Value Total Level 1 Level 2 Level 3 Mutual funds (1) $ 1 $ 1 $ — $ — (1) Comprised of approximately 100% equities as of December 31, 2019 . Fair Value Measurements at December 31, 2018 Fair Value Total Level 1 Level 2 Level 3 Mutual funds (1) $ 1 $ 1 $ — $ — (1) Comprised of approximately 100% equities as of December 31, 2018 . The fair value of other postretirement plan assets by asset category at the dates indicated is as follows: Fair Value Measurements at December 31, 2019 Fair Value Total Level 1 Level 2 Level 3 Asset category: Cash and cash equivalents $ 14 $ 14 $ — $ — Mutual funds (1) 177 177 — — Fixed income securities 79 — 79 — Total $ 270 $ 191 $ 79 $ — (1) Primarily comprised of approximately 59% equities, 40% fixed income securities and 1% cash as of December 31, 2019 . Fair Value Measurements at December 31, 2018 Fair Value Total Level 1 Level 2 Level 3 Asset category: Cash and cash equivalents $ 20 $ 20 $ — $ — Mutual funds (1) 144 144 — — Fixed income securities 77 — 77 — Total $ 241 $ 164 $ 77 $ — (1) Primarily comprised of approximately 53% equities, 46% fixed income securities and 1% cash as of December 31, 2018 . The Level 1 plan assets are valued based on active market quotes. The Level 2 plan assets are valued based on the net asset value per share (or its equivalent) of the investments, which was not determinable through publicly published sources but was calculated consistent with authoritative accounting guidelines. Contributions We expect to contribute $5 million to pension plans and $8 million to other postretirement plans in 2020 . The cost of the plans are funded in accordance with federal regulations, not to exceed the amounts deductible for income tax purposes. Benefit Payments Panhandle and ETC Sunoco’s estimate of expected benefit payments, which reflect expected future service, as appropriate, in each of the next five years and in the aggregate for the five years thereafter are shown in the table below: Years Pension Benefits - Unfunded Plans (1) Other Postretirement Benefits (Gross, Before Medicare Part D) 2020 $ 5 $ 20 2021 5 20 2022 4 19 2023 4 18 2024 3 15 2025 - 2029 10 67 (1) Expected benefit payments of funded pension plans are less than $1 million for the next ten years. The Medicare Prescription Drug Act provides for a prescription drug benefit under Medicare (“Medicare Part D”) as well as a federal subsidy to sponsors of retiree health care benefit plans that provide a prescription drug benefit that is at least actuarially equivalent to Medicare Part D. Panhandle does not expect to receive any Medicare Part D subsidies in any future periods. |
Related Party Transactions (Not
Related Party Transactions (Notes) | 12 Months Ended |
Dec. 31, 2019 | |
Related Party Transactions [Abstract] | |
RELATED PARTY TRANSACTIONS | RELATED PARTY TRANSACTIONS: In June 2017, the Partnership acquired all of the publicly held PennTex common units through a tender offer and exercise of a limited call right, as further discussed in Note 7 . ET-ETO Long-Term Notes In October 2018, in connection with the Energy Transfer Merger, ET and ETO entered into an intercompany promissory note (“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 balance outstanding on this note receivable from ET as of December 31, 2018 was $440 million . On August 19, 2019, the entire outstanding balance of $268 million was paid off. In March 2019, in connection with the ET-ETO senior notes exchange, ET and ETO entered into an intercompany promissory note (“ET-ETO Promissory Note B”) 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 December 31, 2019 the ET-ETO Promissory Note B had an outstanding balance of $3.71 billion . As of December 31, 2019 , ETO has a long-term intercompany payable due to ET of $104 million , which has been netted against the outstanding promissory notes receivable in our consolidated balance sheet. ETO-SemGroup Long-Term Notes In December 2019, in connection with the SemGroup acquisition, ETO and SemGroup entered into an intercompany promissory note for an aggregate amount up to $2.5 billion that accrues interest at 5.20% per annum. The ETO-SemGroup promissory note matures on December 31, 2029. As of December 31, 2019 the ETO-SemGroup Promissory Note B had an outstanding balance of $2.32 billion . For the year ended December 31, 2019 , ETO recognized $191 million in interest income related to these notes, recorded in Other, net on its consolidated statements of operations. The Partnership also has related party transactions with several of its equity method investees. 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: Years Ended December 31, 2019 2018 2017 Revenues from related companies $ 492 $ 431 $ 303 The following table summarizes the related company accounts receivable and accounts payable balances on our consolidated balance sheets: December 31, 2019 2018 Accounts receivable from related companies: ET $ 8 $ 65 FGT 50 25 Phillips 66 36 42 Traverse Rover LLC 42 — Other 39 44 Total accounts receivable from related companies $ 175 $ 176 Accounts payable to related companies: ET $ — $ 59 Other 27 60 Total accounts payable to related companies $ 27 $ 119 |
Reportable Segments (Notes)
Reportable Segments (Notes) | 12 Months Ended |
Dec. 31, 2019 | |
Reportable Segments [Abstract] | |
REPORTABLE SEGMENTS | REPORTABLE SEGMENTS: Our reportable segments 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 as a measure of segment performance. We define Segment 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 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: Years Ended December 31, 2019 2018 2017 Revenues: Intrastate transportation and storage: Revenues from external customers $ 2,749 $ 3,428 $ 2,891 Intersegment revenues 350 309 192 3,099 3,737 3,083 Interstate transportation and storage: Revenues from external customers 1,941 1,664 1,112 Intersegment revenues 22 18 19 1,963 1,682 1,131 Midstream: Revenues from external customers 2,268 2,090 2,510 Intersegment revenues 3,751 5,432 4,433 6,019 7,522 6,943 NGL and refined products transportation and services: Revenues from external customers 9,920 10,119 7,885 Intersegment revenues 1,721 1,004 763 11,641 11,123 8,648 Crude oil transportation and services: Revenues from external customers 18,307 17,236 11,672 Intersegment revenues — 96 31 18,307 17,332 11,703 Investment in Sunoco LP: Revenues from external customers 16,590 16,982 11,713 Intersegment revenues 6 12 10 16,596 16,994 11,723 Investment in USAC: Revenues from external customers 678 495 — Intersegment revenues 20 13 — 698 508 — All other: Revenues from external customers 1,579 2,073 2,740 Intersegment revenues 81 155 161 1,660 2,228 2,901 Eliminations (5,951 ) (7,039 ) (5,609 ) Total revenues $ 54,032 $ 54,087 $ 40,523 Years Ended December 31, 2019 2018 2017 Cost of products sold: Intrastate transportation and storage $ 1,909 $ 2,665 $ 2,327 Midstream 3,570 5,145 4,761 NGL and refined products transportation and services 8,393 8,462 6,508 Crude oil transportation and services 14,649 14,439 9,826 Investment in Sunoco LP 15,380 15,872 10,615 Investment in USAC 91 67 — All other 1,496 2,006 2,509 Eliminations (5,885 ) (6,998 ) (5,580 ) Total cost of products sold $ 39,603 $ 41,658 $ 30,966 Years Ended December 31, 2019 2018 2017 Depreciation, depletion and amortization: Intrastate transportation and storage $ 184 $ 169 $ 147 Interstate transportation and storage 387 334 254 Midstream 1,065 1,006 954 NGL and refined products transportation and services 613 466 401 Crude oil transportation and services 430 445 402 Investment in Sunoco LP 181 167 169 Investment in USAC 231 169 — All other 33 87 214 Total depreciation, depletion and amortization $ 3,124 $ 2,843 $ 2,541 Years Ended December 31, 2019 2018 2017 Equity in earnings (losses) of unconsolidated affiliates: Intrastate transportation and storage $ 18 $ 19 $ (156 ) Interstate transportation and storage 222 227 236 Midstream 20 26 20 NGL and refined products transportation and services 51 64 33 Crude oil transportation and services (3 ) 6 4 All other (10 ) 2 7 Total equity in earnings of unconsolidated affiliates $ 298 $ 344 $ 144 Years Ended December 31, 2019 2018 2017 Segment Adjusted EBITDA: Intrastate transportation and storage $ 999 $ 927 $ 626 Interstate transportation and storage 1,792 1,680 1,274 Midstream 1,599 1,627 1,481 NGL and refined products transportation and services 2,663 1,979 1,641 Crude oil transportation and services 2,949 2,330 1,379 Investment in Sunoco LP 665 638 732 Investment in USAC 420 289 — All other 104 76 219 Total Segment Adjusted EBITDA 11,191 9,546 7,352 Depreciation, depletion and amortization (3,124 ) (2,843 ) (2,541 ) Interest expense, net of interest capitalized (2,257 ) (1,709 ) (1,575 ) Impairment losses (74 ) (431 ) (1,039 ) Gains (losses) on interest rate derivatives (241 ) 47 (37 ) Non-cash compensation expense (111 ) (105 ) (99 ) Unrealized gains (losses) on commodity risk management activities (4 ) (11 ) 59 Inventory valuation adjustments 79 (85 ) 24 Losses on extinguishments of debt (2 ) (109 ) (42 ) Adjusted EBITDA related to unconsolidated affiliates (621 ) (655 ) (716 ) Equity in earnings of unconsolidated affiliates 298 344 144 Impairment of investments in unconsolidated affiliates — — (313 ) Adjusted EBITDA related to discontinued operations — 25 (223 ) Other, net 252 30 154 Income from continuing operations before income tax expense 5,386 4,044 1,148 Income tax expense from continuing operations (200 ) (5 ) 1,804 Income from continuing operations 5,186 4,039 2,952 Loss from discontinued operations, net of income taxes — (265 ) (177 ) Net income $ 5,186 $ 3,774 $ 2,775 December 31, 2019 2018 2017 Segment assets: Intrastate transportation and storage $ 6,648 $ 6,365 $ 5,020 Interstate transportation and storage 18,111 15,081 15,316 Midstream 20,070 19,745 20,004 NGL and refined products transportation and services 19,145 18,267 17,600 Crude oil transportation and services 18,915 18,022 17,730 Investment in Sunoco LP 5,438 4,879 8,344 Investment in USAC 3,730 3,775 — All other and eliminations 6,468 2,308 2,470 Total segment assets $ 98,525 $ 88,442 $ 86,484 Years Ended December 31, 2019 2018 2017 Additions to property, plant and equipment (1) : Intrastate transportation and storage $ 124 $ 344 $ 175 Interstate transportation and storage 375 812 728 Midstream 826 1,161 1,308 NGL and refined products transportation and services 2,976 2,381 2,971 Crude oil transportation and services 392 474 453 Investment in Sunoco LP 148 103 103 Investment in USAC 200 205 — All other 213 150 268 Total additions to property, plant and equipment (1) $ 5,254 $ 5,630 $ 6,006 (1) Excluding acquisitions, net of contributions in aid of construction costs (capital expenditures related to the Partnership’s proportionate ownership on an accrual basis). December 31, 2019 2018 2017 Advances to and investments in unconsolidated affiliates: Intrastate transportation and storage $ 88 $ 83 $ 85 Interstate transportation and storage 2,524 2,070 2,118 Midstream 112 124 126 NGL and refined products transportation and services 243 243 234 Crude oil transportation and services 24 28 22 All other 27 88 113 Total advances to and investments in unconsolidated affiliates $ 3,018 $ 2,636 $ 2,698 |
Quarterly Financial Data (Note
Quarterly Financial Data (Notes) | 12 Months Ended |
Dec. 31, 2019 | |
Quarterly Financial Data [Abstract] | |
QUARTERLY FINANCIAL DATA (UNAUDITED) | QUARTERLY FINANCIAL DATA (UNAUDITED): Summarized unaudited quarterly financial data is presented below. Quarters Ended March 31 June 30 September 30 December 31 Total Year 2019: Revenues $ 13,121 $ 13,877 $ 13,495 $ 13,539 $ 54,032 Operating income 1,928 1,827 1,834 1,696 7,285 Net income 1,281 1,281 1,224 1,400 5,186 Net income attributable to partners 1,012 1,002 951 1,119 4,084 Quarters Ended March 31 June 30 September 30 December 31 Total Year 2018: Revenues $ 11,882 $ 14,118 $ 14,514 $ 13,573 $ 54,087 Operating income 1,105 1,138 1,715 1,444 5,402 Income from continuing operations 814 760 1,494 971 4,039 Net income 577 734 1,492 971 3,774 Net income attributable to partners 715 432 1,135 743 3,025 |
Guarantor Financial Information
Guarantor Financial Information (Notes) | 12 Months Ended |
Dec. 31, 2019 | |
Guarantor Financial Information [Abstract] | |
Condensed Financial Information of Parent Company Only Disclosure [Text Block] | CONSOLIDATING GUARANTOR FINANCIAL INFORMATION Prior to the Sunoco Logistics Merger, Sunoco Logistics Partners Operations L.P., a subsidiary of Sunoco Logistics was the issuer of multiple series of senior notes that were guaranteed by Sunoco Logistics. Subsequent to the Sunoco Logistics Merger, these notes continue to be guaranteed by Sunoco Logistics. These guarantees are full and unconditional. For the purposes of this footnote, ETO 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 consolidating financial information for the Parent Guarantor, Subsidiary Issuer and Non-Guarantor Subsidiaries are as follows: December 31, 2019 Parent Guarantor Subsidiary Issuer Non-Guarantor Subsidiaries Eliminations Consolidated Partnership Cash and cash equivalents $ — $ — $ 253 $ — $ 253 All other current assets 4,905 44,047 45,997 (88,042 ) 6,907 Property, plant and equipment — — 69,971 — 69,971 Investments in unconsolidated affiliates 57,383 15,045 3,033 (72,443 ) 3,018 All other assets 5,786 131 12,459 — 18,376 Total assets $ 68,074 $ 59,223 $ 131,713 $ (160,485 ) $ 98,525 Current liabilities $ 3,394 $ 41,148 $ 48,350 $ (85,811 ) $ 7,081 Non-current liabilities 34,782 7,602 13,753 — 56,137 Noncontrolling interests — — 8,018 — 8,018 Total partners’ capital 29,898 10,473 61,592 (74,674 ) 27,289 Total liabilities and equity $ 68,074 $ 59,223 $ 131,713 $ (160,485 ) $ 98,525 December 31, 2018 Parent Guarantor Subsidiary Issuer Non-Guarantor Subsidiaries Eliminations Consolidated Partnership Cash and cash equivalents $ — $ — $ 418 $ — $ 418 All other current assets 4,070 36,889 73,336 (107,893 ) 6,402 Property, plant and equipment — — 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 Current liabilities $ 3,430 $ 33,517 $ 80,731 $ (108,381 ) $ 9,297 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 Year Ended December 31, 2019 Parent Guarantor Subsidiary Issuer Non-Guarantor Subsidiaries Eliminations Consolidated Partnership Revenues $ — $ — $ 54,032 $ — $ 54,032 Operating costs, expenses, and other — — 46,747 — 46,747 Operating income — — 7,285 — 7,285 Interest expense, net (1,612 ) (374 ) (271 ) — (2,257 ) Equity in earnings of unconsolidated affiliates 5,623 1,938 298 (7,561 ) 298 Losses on debt extinguishment — — (2 ) (2 ) Losses on interest rate derivatives (241 ) — — — (241 ) Other, net 314 3 (14 ) — 303 Income before income tax expense 4,084 1,567 7,296 (7,561 ) 5,386 Income tax expense — — 200 — 200 Net income 4,084 1,567 7,096 (7,561 ) 5,186 Less: Net income attributable to noncontrolling interests — — 1,051 — 1,051 Less: Net income attributable to redeemable noncontrolling interests 51 51 Net income attributable to partners $ 4,084 $ 1,567 $ 5,994 $ (7,561 ) $ 4,084 Other comprehensive income $ — $ — $ 24 $ — $ 24 Comprehensive income 4,084 1,567 7,120 (7,561 ) 5,210 Comprehensive income attributable to noncontrolling interests — — 1,051 — 1,051 Comprehensive income attributable to redeemable noncontrolling interests 51 51 Comprehensive income attributable to partners $ 4,084 $ 1,567 $ 6,018 $ (7,561 ) $ 4,108 Year Ended December 31, 2018 Parent Guarantor Subsidiary Issuer Non-Guarantor Subsidiaries Eliminations Consolidated Partnership Revenues $ — $ — $ 54,087 $ — $ 54,087 Operating costs, expenses, and other — — 48,685 — 48,685 Operating income — — 5,402 — 5,402 Interest expense, net (1,196 ) (176 ) (337 ) — (1,709 ) Equity in earnings of unconsolidated affiliates 4,170 1,430 344 (5,600 ) 344 Losses on extinguishments of debt — — (109 ) — (109 ) Gains on interest rate derivatives 47 — — — 47 Other, net — — 69 — 69 Income from continuing operations before income tax expense 3,021 1,254 5,369 (5,600 ) 4,044 Income tax expense from continuing operations — — 5 — 5 Net income from continuing operations 3,021 1,254 5,364 (5,600 ) 4,039 Loss from discontinued operations, net of income taxes — — (265 ) — (265 ) Net income 3,021 1,254 5,099 (5,600 ) 3,774 Less: Net income attributable to noncontrolling interests — — 715 — 715 Less: Net income attributable to redeemable noncontrolling interests — — 39 — 39 Less: Net loss attributable to predecessor — — (5 ) — (5 ) Net income attributable to partners $ 3,021 $ 1,254 $ 4,350 $ (5,600 ) $ 3,025 Other comprehensive loss $ — $ — $ (43 ) $ — $ (43 ) Comprehensive income 3,021 1,254 5,056 (5,600 ) 3,731 Less: Comprehensive income attributable to noncontrolling interests — — 715 — 715 Less: Comprehensive income attributable to redeemable noncontrolling interests — — 39 — 39 Less: Comprehensive loss attributable to predecessor — — (5 ) — (5 ) Comprehensive income attributable to partners $ 3,021 $ 1,254 $ 4,307 $ (5,600 ) $ 2,982 Year Ended December 31, 2017 Parent Guarantor Subsidiary Issuer Non-Guarantor Subsidiaries Eliminations Consolidated Partnership Revenues $ — $ — $ 40,523 $ — $ 40,523 Operating costs, expenses, and other — 1 37,757 — 37,758 Operating income (loss) — (1 ) 2,766 — 2,765 Interest expense, net — (156 ) (1,419 ) — (1,575 ) Equity in earnings of unconsolidated affiliates 2,564 1,242 144 (3,806 ) 144 Impairment of investments in unconsolidated affiliates — — (313 ) — (313 ) Losses on extinguishments of debt — — (42 ) — (42 ) Losses on interest rate derivatives — — (37 ) — (37 ) Other, net — — 207 (1 ) 206 Income from continuing operations before income tax benefit 2,564 1,085 1,306 (3,807 ) 1,148 Income tax benefit from continuing operations — — (1,804 ) — (1,804 ) Net income from continuing operations 2,564 1,085 3,110 (3,807 ) 2,952 Loss from discontinued operations, net of income taxes — — (177 ) — (177 ) Net income 2,564 1,085 2,933 (3,807 ) 2,775 Less: Net income attributable to noncontrolling interests — — 420 — 420 Less: Net income attributable to predecessor — — 274 — 274 Net income attributable to partners $ 2,564 $ 1,085 $ 2,239 $ (3,807 ) $ 2,081 Other comprehensive loss $ — $ — $ (5 ) $ — $ (5 ) Comprehensive income 2,564 1,085 2,928 (3,807 ) 2,770 Less: Comprehensive income attributable to noncontrolling interests — — 420 — 420 Less: Comprehensive income attributable to predecessor — — 274 — 274 Comprehensive income attributable to partners $ 2,564 $ 1,085 $ 2,234 $ (3,807 ) $ 2,076 Year Ended December 31, 2019 Parent Guarantor Subsidiary Issuer Non-Guarantor Subsidiaries Eliminations Consolidated Partnership Cash flows provided by operating activities $ 3,372 $ 2,732 $ 8,988 $ (6,841 ) $ 8,251 Cash flows used in investing activities (2,044 ) (2,732 ) (8,188 ) 6,841 (6,123 ) Cash flows used in financing activities (1,328 ) — (965 ) — (2,293 ) Change in cash — — (165 ) — (165 ) Cash at beginning of period — — 418 — 418 Cash at end of period $ — $ — $ 253 $ — $ 253 Year Ended December 31, 2018 Parent Guarantor Subsidiary Issuer Non-Guarantor Subsidiaries Eliminations Consolidated Partnership Cash flows provided by operating activities $ 4,041 $ 1,521 $ 5,641 $ (3,644 ) $ 7,559 Cash flows used in investing activities (3,408 ) (1,519 ) (5,619 ) 3,644 (6,902 ) Cash flows provided by (used in) financing activities (633 ) — (2,675 ) — (3,308 ) Net increase in cash and cash equivalents of discontinued operations — — 2,734 — 2,734 Change in cash — 2 81 — 83 Cash at beginning of period — (2 ) 337 — 335 Cash at end of period $ — $ — $ 418 $ — $ 418 Year Ended December 31, 2017 Parent Guarantor Subsidiary Issuer Non-Guarantor Subsidiaries Eliminations Consolidated Partnership Cash flows provided by operating activities $ 2,564 $ 1,047 $ 5,013 $ (3,807 ) $ 4,817 Cash flows used in investing activities (2,240 ) (1,368 ) (5,811 ) 3,807 (5,612 ) Cash flows provided by financing activities (324 ) 277 619 — 572 Net decrease in cash and cash equivalents of discontinued operations — — 93 — 93 Change in cash — (44 ) (86 ) — (130 ) Cash at beginning of period — 42 423 — 465 Cash at end of period $ — $ (2 ) $ 337 $ — $ 335 |
Operations and Organization Ope
Operations and Organization Operations and Organization (Policies) | 12 Months Ended |
Dec. 31, 2019 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Basis of Accounting, Policy [Policy Text Block] | The consolidated financial statements of the Partnership have been prepared in accordance with GAAP and include the accounts of all controlled subsidiaries after the elimination of all intercompany accounts and transactions. Certain prior year amounts have been conformed to the current year presentation. These reclassifications had no impact on net income or total equity. Management evaluated subsequent events through the date the financial statements were issued. The consolidated financial statements of the Partnership presented herein include the results of operations of our controlled subsidiaries, including Sunoco LP and USAC. |
Estimates, Significant Accoun_2
Estimates, Significant Accounting Policies and Balance Sheet Detials (Policy) | 12 Months Ended |
Dec. 31, 2019 | |
ESTIMATES, SIGNIFICANT ACCOUNTING POLICIES AND BALANCE SHEET DETAIL | |
Use of Estimates | Use of Estimates The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the accrual for and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. The natural gas industry conducts its business by processing actual transactions at the end of the month following the month of delivery. Consequently, the most current month’s financial results for the midstream, NGL and intrastate transportation and storage operations are estimated using volume estimates and market prices. Any differences between estimated results and actual results are recognized in the following month’s financial statements. Management believes that the estimated operating results represent the actual results in all material respects. Some of the other significant estimates made by management include, but are not limited to, the timing of certain forecasted transactions that are hedged, the fair value of derivative instruments, useful lives for depreciation and amortization, purchase accounting allocations and subsequent realizability of intangible assets, fair value measurements used in the goodwill impairment test, market value of inventory, assets and liabilities resulting from the regulated ratemaking process, contingency reserves and environmental reserves. Actual results could differ from those estimates. |
New Accounting Pronouncements, Policy [Policy Text Block] | 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. |
Revenue Recognition | 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. Disaggregation of revenue The major types of revenue within our reportable segments, are as follows: • 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 ; • fuel distribution and marketing; • all other; • investment in USAC ; • contract operations; • retail parts and services; and • all other . Note 16 depicts the disaggregation of revenue by segment, with revenue amounts reflected in accordance with ASC Topic 606 for 2019 and 2018 and ASC Topic 605 for 2017 . Intrastate transportation and storage revenue Our intrastate transportation and storage segment’s revenues are determined primarily by the volume of capacity our customers reserve as well as the actual volume of natural gas that flows through the transportation pipelines or that is injected or withdrawn into or out of our storage facilities. Firm transportation and storage contracts require customers to pay certain minimum fixed fees regardless of the volume of commodity they transport or store. These contracts typically include a variable incremental charge based on the actual volume of transportation commodity throughput or stored commodity injected/withdrawn. Under interruptible transportation and storage contracts, customers are not required to pay any fixed minimum amounts, but are instead billed based on actual volume of commodity they transport across our pipelines or inject/withdraw into or out of our storage facilities. Payment for services under these contracts are typically due the month after the services have been performed. The performance obligation with respect to firm contracts is a promise to provide a single type of service (transportation or storage) daily over the life of the contract, which is fundamentally a “stand-ready” service. While there can be multiple activities required to be performed, these activities are not separable because such activities in combination are required to successfully transfer the overall service for which the customer has contracted. The fixed consideration of the transaction price is allocated ratably over the life of the contract and revenue for the fixed consideration is recognized over time, because the customer simultaneously receives and consumes the benefit of this “stand-ready” service. Incremental fees associated with actual volume for each respective period are recognized as revenue in the period the incremental volume of service is performed. The performance obligation with respect to interruptible contracts is also a promise to provide a single type of service, but such promise is made on a case-by-case basis at the time the customer requests the service and we accept the customer’s request. Revenue is recognized for interruptible contracts at the time the services are performed. Our intrastate transportation and storage segment also generates revenues and margin from the sale of natural gas to electric utilities, independent power plants, local distribution companies, industrial end-users and other marketing companies on the HPL System. Generally, we purchase natural gas from the market, including purchases from our marketing operations, and from producers at the wellhead. Interstate transportation and storage revenue Our interstate transportation and storage segment’s revenues are determined primarily by the amount of capacity our customers reserve as well as the actual volume of natural gas that flows through the transportation pipelines or that is injected into or withdrawn out of our storage facilities. Our interstate transportation and storage segment’s contracts can be firm or interruptible. Firm transportation and storage contracts require customers to pay certain minimum fixed fees regardless of the volume of commodity transported or stored. In exchange for such fees, we must stand ready to perform a contractually agreed-upon minimum volume of services whenever the customer requests such services. These contracts typically include a variable incremental charge based on the actual volume of transportation commodity throughput or stored commodity injected or withdrawn. Under interruptible transportation and storage contracts, customers are not required to pay any fixed minimum amounts, but are instead billed based on actual volume of commodity they transport across our pipelines or inject into or withdraw out of our storage facilities. Consequently, we are not required to stand ready to provide any contractually agreed-upon volume of service, but instead provides the services based on existing capacity at the time the customer requests the services. Payment for services under these contracts are typically due the month after the services have been performed. The performance obligation with respect to firm contracts is a promise to provide a single type of service (transportation or storage) daily over the life of the contract, which is fundamentally a “stand-ready” service. While there can be multiple activities required to be performed, these activities are not separable because such activities in combination are required to successfully transfer the overall service for which the customer has contracted. The fixed consideration of the transaction price is allocated ratably over the life of the contract and revenue for the fixed consideration is recognized over time, because the customer simultaneously receives and consumes the benefit of this “stand-ready” service. Incremental fees associated with actual volume for each respective period are recognized as revenue in the period the incremental volume of service is performed. The performance obligation with respect to interruptible contracts is also a promise to provide a single type of services, but such promise is made on a case-by-case basis at the time the customer requests the service and we accept the customer’s request. Revenue is recognized for interruptible contracts at the time the services are performed. Lake Charles LNG’s revenues are primarily derived from terminalling services for shippers by receiving LNG at the facility for storage and delivering such LNG to shippers, either in liquid state or gaseous state after regasification. Lake Charles LNG derives all of its revenue from a series of long term contracts with a wholly-owned subsidiary of Royal Dutch Shell plc (“Shell”). Terminalling revenue is generated from fees paid by Shell for storage and other associated services at the terminal. Payment for services under these contracts are typically due the month after the services have been performed. The terminalling agreements are considered to be firm agreements, because they include fixed fee components that are charged regardless of the volumes transported by Shell or services provided at the terminal. The performance obligation with respect to firm contracts is a promise to provide a single type of service (terminalling) daily over the life of the contract, which is fundamentally a “stand-ready” service. While there can be multiple activities required to be performed, these activities are not separable because such activities in combination are required to successfully transfer the overall service for which the customer has contracted. The fixed consideration of the transaction price is allocated ratably over the life of the contract and revenue for the fixed consideration is recognized over time, because the customer simultaneously receives and consumes the benefit of this “stand-ready” service. Incremental fees associated with actual volume for each respective period are recognized as revenue in the period the incremental volume of service is performed. Midstream revenue Our midstream segment’s revenues are derived primarily from margins we earn for natural gas volumes that are gathered, processed, and/or transported. The various types of revenue contracts our midstream segment enters into include: Fixed fee gathering and processing: Contracts under which we provide gathering and processing services in exchange for a fixed cash fee per unit of volume. Revenue for cash fees is recognized when the service is performed. Keepwhole: Contracts under which we gather raw natural gas from a third party producer, process the gas to convert it to pipeline quality natural gas, and redeliver to the producer a thermal-equivalent volume of pipeline quality natural gas. In exchange for these services, we retain the NGLs extracted from the raw natural gas received from the producer as well as cash fees paid by the producer. The value of NGLs retained as well as cash fees is recognized as revenue when the services are performed. Percent of Proceeds (“POP”): Contracts under which we provide gathering and processing services in exchange for a specified percentage of the producer’s commodity (“POP percentage”) and also in some cases additional cash fees. The two types of POP revenue contracts are described below: • In-Kind POP: We retain our POP percentage (non-cash consideration) and also any additional cash fees in exchange for providing the services. We recognize revenue for the non-cash consideration and cash fees at the time the services are performed. • Mixed POP: We purchase NGLs from the producer and retain a portion of the residue gas as non-cash consideration for services provided. We may also receive cash fees for such services. Under Topic 606, these agreements were determined to be hybrid agreements which were partially supply agreements (for the NGLs we purchased) and customer agreements (for the services provided related to the product that was returned to the customer). Given that these are hybrid agreements, we split the cash and non-cash consideration between revenue and a reduction of costs based on the value of the service provided vs. the value of the supply received. Payment for services under these contracts are typically due the month after the services have been performed. The performance obligations with respect to our midstream segment’s contracts are to provide gathering, transportation and processing services, each of which would be completed on or about the same time, and each of which would be recognized on the same line item on the income statement, therefore identification of separate performance obligations would not impact the timing or geography of revenue recognition. Certain contracts of our midstream segment include throughput commitments under which customers commit to purchasing a certain minimum volume of service over a specified time period. If such volume of service is not purchased by the customer, deficiency fees are billed to the customer. In some cases, the customer is allowed to apply any deficiency fees paid to future purchases of services. In such cases, we defer revenue recognition until the customer uses the deficiency fees for 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. Our midstream segment also generates revenues from the sale of residue gas and NGLs at the tailgate of our processing facilities primarily to affiliates and some third-party customers. NGL and refined products transportation and services revenue Our NGL and refined products segment’s revenues are primarily derived from transportation, fractionation, blending, and storage of NGL and refined products as well as acquisition and marketing activities. Revenues are generated utilizing a complementary network of pipelines, storage and blending facilities, and strategic off-take locations that provide access to multiple NGL markets. Transportation, fractionation, and storage revenue is generated from fees charged to customers under a combination of firm and interruptible contracts. Firm contracts are in the form of take-or-pay arrangements where certain fees will be charged to customers regardless of the volume of service they request for any given period. Under interruptible contracts, customers are not required to pay any fixed minimum amounts, but are instead billed based on actual volume of service provided for any given period. Payment for services under these contracts are typically due the month after the services have been performed. The performance obligation with respect to firm contracts is a promise to provide a single type of service (transportation, fractionation, blending, or storage) daily over the life of the contract, which is fundamentally a “stand-ready” service. While there can be multiple activities required to be performed, these activities are not separable because such activities in combination are required to successfully transfer the overall service for which the customer has contracted. The fixed consideration of the transaction price is allocated ratably over the life of the contract and revenue for the fixed consideration is recognized over time, because the customer simultaneously receives and consumes the benefit of this “stand-ready” service. Incremental fees associated with actual volume for each respective period are recognized as revenue in the period the incremental volume of service is performed. The performance obligation with respect to interruptible contracts is also a promise to provide a single type of services, but such promise is made on a case-by-case basis at the time the customer requests the service and we accept the customer’s request. Revenue is recognized for interruptible contracts at the time the services are performed. Acquisition and marketing contracts are in most cases short-term agreements involving purchase and/or sale of NGLs and other related hydrocarbons at market rates. These contracts were not affected by ASC 606. Crude oil transportation and services revenue Our crude oil transportation and services segment revenues are primarily derived from providing transportation, terminalling and acquisition and marketing services to crude oil markets throughout the southwest, midwest and northeastern United States. Crude oil transportation revenue is generated from tariffs paid by shippers utilizing our transportation services and is generally recognized as the related transportation services are provided. Crude oil terminalling revenue is generated from fees paid by customers for storage and other associated services at the terminal. Crude oil acquisition and marketing revenue is generated from sale of crude oil acquired from a variety of suppliers to third parties. Payment for services under these contracts are typically due the month after the services have been performed. Certain transportation and terminalling agreements are considered to be firm agreements, because they include fixed fee components that are charged regardless of the volume of crude oil transported by the customer or services provided at the terminal. For these agreements, any fixed fees billed in excess of services provided are not recognized as revenue until the earlier of (i) the time at which the customer applies the fees against cost of service provided in a later period, or (ii) the customer becomes unable to apply the fees against cost of future service due to capacity constraints or contractual terms. The performance obligation with respect to firm contracts is a promise to provide a single type of service (transportation or terminalling) daily over the life of the contract, which is fundamentally a “stand-ready” service. While there can be multiple activities required to be performed, these activities are not separable because such activities in combination are required to successfully transfer the overall service for which the customer has contracted. The fixed consideration of the transaction price is allocated ratably over the life of the contract and revenue for the fixed consideration is recognized over time, because the customer simultaneously receives and consumes the benefit of this “stand-ready” service. Incremental fees associated with actual volume for each respective period are recognized as revenue in the period the incremental volume of service is performed. The performance obligation with respect to interruptible contracts is also a promise to provide a single type of service, but such promise is made on a case-by-case basis at the time the customer requests the service and/or product and we accept the customer’s request. Revenue is recognized for interruptible contracts at the time the services are performed. Acquisition and marketing contracts are in most cases short-term agreements involving purchase and/or sale of crude oil at market rates. These contracts were not affected by ASC 606. Sunoco LP’s fuel distribution and marketing revenue Sunoco LP’s fuel distribution and marketing operations earn revenue from the following channels: sales to Dealers, sales to Distributors, Unbranded Wholesale Revenue, Commission Agent Revenue, Rental Income and Other Income. Motor fuel revenue consists primarily of the sale of motor fuel under supply agreements with third party customers and affiliates. Fuel supply contracts with Sunoco LP’s customers generally provide that Sunoco LP distribute motor fuel at a formula price based on published rates, volume-based profit margin, and other terms specific to the agreement. The customer is invoiced the agreed-upon price with most payment terms ranging less than 30 days. If the consideration promised in a contract includes a variable amount, Sunoco LP estimates the variable consideration amount and factors in such an estimate to determine the transaction price under the expected value method. Revenue is recognized under the motor fuel contracts at the point in time the customer takes control of the fuel. At the time control is transferred to the customer the sale is considered final, because the agreements do not grant customers the right to return motor fuel. Under the new standard, to determine when control transfers to the customer, the shipping terms of the contract are assessed as shipping terms are considered a primary indicator of the transfer of control. For FOB shipping point terms, revenue is recognized at the time of shipment. The performance obligation with respect to the sale of goods is satisfied at the time of shipment since the customer gains control at this time under the terms. Shipping and/or handling costs that occur before the customer obtains control of the goods are deemed to be fulfillment activities and are accounted for as fulfillment costs. Once the goods are shipped, Sunoco LP is precluded from redirecting the shipment to another customer and revenue is recognized. Commission agent revenue consists of sales from commission agent agreements between Sunoco LP and select operators. Sunoco LP supplies motor fuel to sites operated by commission agents and sells the fuel directly to the end customer. In commission agent arrangements, control of the product is transferred at the point in time when the goods are sold to the end customer. To reflect the transfer of control, Sunoco LP recognizes commission agent revenue at the point in time fuel is sold to the end customer. Sunoco LP receives rental income from leased or subleased properties. Revenue from leasing arrangements for which Sunoco LP is the lessor are recognized ratably over the term of the underlying lease. Sunoco LP’s all other revenue Sunoco LP’s all other operations earn revenue from the following channels: Motor Fuel Sales, Rental Income and Other Income. Motor Fuel Sales consist of fuel sales to consumers at company-operated retail stores. Other income includes merchandise revenue that comprises the in-store merchandise and food service sales at company-operated retail stores, and other revenue that represents a variety of other services within Sunoco LP’s all other operations including credit card processing, car washes, lottery, automated teller machines, money orders, prepaid phone cards and wireless services. Revenue from all other operations is recognized when (or as) the performance obligations are satisfied (i.e. when the customer obtains control of the good or the service is provided). USAC’s contract operations revenue USAC’s revenue from contracted compression, station, gas treating and maintenance services is recognized ratably under its fixed-fee contracts over the term of the contract as services are provided to its customers. Initial contract terms typically range from six months to five years, however USAC usually continues to provide compression services at a specific location beyond the initial contract term, either through contract renewal or on a month-to-month or longer basis. USAC primarily enters into fixed-fee contracts whereby its customers are required to pay the monthly fee even during periods of limited or disrupted throughput. Services are generally billed monthly, one month in advance of the commencement of the service month, except for certain customers who are billed at the beginning of the service month, and payment is generally due 30 days after receipt of the invoice. Amounts invoiced in advance are recorded as deferred revenue until earned, at which time they are recognized as revenue. The amount of consideration USAC receives and revenue it recognizes is based upon the fixed fee rate stated in each service contract. Variable consideration exists in select contracts when billing rates vary based on actual equipment availability or volume of total installed horsepower. USAC’s contracts with customers may include multiple performance obligations. For such arrangements, USAC allocates revenues to each performance obligation based on its relative standalone service fee. USAC generally determine standalone service fees based on the service fees charged to customers or using expected cost plus margin. The majority of USAC’s service performance obligations are satisfied over time as services are rendered at selected customer locations on a monthly basis and based upon specific performance criteria identified in the applicable contract. The monthly service for each location is substantially the same service month to month and is promised consecutively over the service contract term. USAC measures progress and performance of the service consistently using a straight-line, time-based method as each month passes, because its performance obligations are satisfied evenly over the contract term as the customer simultaneously receives and consumes the benefits provided by its service. If variable consideration exists, it is allocated to the distinct monthly service within the series to which such variable consideration relates. USAC has elected to apply the invoicing practical expedient to recognize revenue for such variable consideration, as the invoice corresponds directly to the value transferred to the customer based on its performance completed to date. There are typically no material obligations for returns or refunds. USAC’s standard contracts do not usually include material non-cash consideration. USAC’s retail parts and services revenue USAC’s retail parts and service revenue is earned primarily on freight and crane charges that are directly reimbursable by USAC’s customers and maintenance work on units at its customers’ locations that are outside the scope of its core maintenance activities. Revenue from retail parts and services is recognized at the point in time the part is transferred or service is provided and control is transferred to the customer. At such time, the customer has the ability to direct the use of the benefits of such part or service after USAC has performed its services. USAC bills upon completion of the service or transfer of the parts, and payment is generally due 30 days after receipt of the invoice. The amount of consideration USAC receives and revenue it recognizes is based upon the invoice amount. There are typically no material obligations for returns, refunds, or warranties. USAC’s standard contracts do not usually include material variable or non-cash consideration. All other revenue Our all other segment primarily includes our compression equipment business which provides full-service compression design and manufacturing services for the oil and gas industry. It also includes the management of coal and natural resources properties and the related collection of royalties. We also earn revenues from other land management activities, such as selling standing timber, leasing coal-related infrastructure facilities, and collecting oil and gas royalties. These operations also include end- user coal handling facilities. There were no material changes to the manner in which revenues within this segment are recorded under the new standard. |
Regulatory Accounting - Regulatory Assets and Liabilities | Regulatory Accounting – Regulatory Assets and Liabilities Our interstate transportation and storage segment is subject to regulation by certain state and federal authorities, and certain subsidiaries in that segment have accounting policies that conform to the accounting requirements and ratemaking practices of the regulatory authorities. The application of these accounting policies allows certain of our regulated entities to defer expenses and revenues on the balance sheet as regulatory assets and liabilities when it is probable that those expenses and revenues will be allowed in the ratemaking process in a period different from the period in which they would have been reflected in the consolidated statement of operations by an unregulated company. These deferred assets and liabilities will be reported in results of operations in the period in which the same amounts are included in rates and recovered from or refunded to customers. Management’s assessment of the probability of recovery or pass through of regulatory assets and liabilities will require judgment and interpretation of laws and regulatory commission orders. If, for any reason, we cease to meet the criteria for application of regulatory accounting treatment for these entities, the regulatory assets and liabilities related to those portions ceasing to meet such criteria would be eliminated from the consolidated balance sheet for the period in which the discontinuance of regulatory accounting treatment occurs. Although Panhandle’s natural gas transmission systems and storage operations are subject to the jurisdiction of the FERC in accordance with the Natural Gas Act of 1938 and Natural Gas Policy Act of 1978, it does not currently apply regulatory accounting policies in accounting for its operations. Panhandle does not apply regulatory accounting policies primarily due to the level of discounting from tariff rates and its inability to recover specific costs. |
Cash, Cash Equivalents and Supplemental Cash Flow Information | Cash, Cash Equivalents and Supplemental Cash Flow Information 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. 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. |
Accounts Receivable | Accounts Receivable Our operations deal with a variety of counterparties across the energy sector, some of which are investment grade, and most of which are not. Internal credit ratings and credit limits are assigned to all counterparties and limits are monitored against credit exposure. Letters of credit or prepayments may be required from those counterparties that are not investment grade depending on the internal credit rating and level of commercial activity with the counterparty. We have a diverse portfolio of customers; however, because of the midstream and transportation services we provide, many of our customers are engaged in the exploration and production segment. We manage trade credit risk to mitigate credit losses and exposure to uncollectible trade receivables. Prospective and existing customers are reviewed regularly for creditworthiness to manage credit risk within approved tolerances. Customers that do not meet minimum credit standards are required to provide additional credit support in the form of a letter of credit, prepayment, or other forms of security. We establish an allowance for doubtful accounts on trade receivables based on the expected ultimate recovery of these receivables and consider many factors including historical customer collection experience, general and specific economic trends, and known specific issues related to individual customers, sectors, and transactions that might impact collectability. Increases in the allowance are recorded as a component of operating expenses; reductions in the allowance are recorded when receivables are subsequently collected or written-off. Past due receivable balances are written-off when our efforts have been unsuccessful in collecting the amount due. |
Inventories | Inventories Inventories consist principally of natural gas held in storage, NGLs and refined products, crude oil and spare parts, all of which are valued at the lower of cost or net realizable value utilizing the weighted-average cost method. Inventories consisted of the following: December 31, 2019 2018 Natural gas, NGLs and refined products (1) $ 833 $ 833 Crude oil 566 506 Spare parts and other 448 338 Total inventories $ 1,847 $ 1,677 (1) Due to changes in fuel prices, Sunoco LP recorded a write-down on the value of its fuel inventory of $85 million as of December 31, 2018 . 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. |
Property, Plant and Equipment | Property, Plant and Equipment Property, plant and equipment are stated at cost less accumulated depreciation. Depreciation is computed using the straight-line method over the estimated useful or FERC-mandated lives of the assets, if applicable. Expenditures for maintenance and repairs that do not add capacity or extend the useful life are expensed as incurred. Expenditures to refurbish assets that either extend the useful lives of the asset or prevent environmental contamination are capitalized and depreciated over the remaining useful life of the asset. Additionally, we capitalize certain costs directly related to the construction of assets including internal labor costs, interest and engineering costs. Upon disposition or retirement of pipeline components or natural gas plant components, any gain or loss is recorded to accumulated depreciation. When entire pipeline systems, gas plants or other property and equipment are retired or sold, any gain or loss is included in our consolidated statements of operations. Property, plant and equipment is reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of such assets may not be recoverable. If such a review should indicate that the carrying amount of long-lived assets is not recoverable, we reduce the carrying amount of such assets to fair value. In 2019 , USAC recognized a $6 million fixed asset impairment related to certain idle compressor assets. Sunoco LP recognized a $47 million write-down on assets held for sale related to its ethanol plant in Fulton, New York. In 2018 , USAC recognized a $9 million fixed asset impairment related to certain idle compressor assets. In 2017 , the Partnership recorded a $127 million fixed asset impairment related to Sea Robin primarily due to a reduction in expected future cash flows due to an increase during 2017 in insurance costs related to offshore assets. Capitalized interest is included for pipeline construction projects, except for certain interstate projects for which an allowance for funds used during construction (“AFUDC”) is accrued. Interest is capitalized based on the current borrowing rate of our revolving credit facilities when the related costs are incurred. AFUDC is calculated under guidelines prescribed by the FERC and capitalized as part of the cost of utility plant for interstate projects. It represents the cost of servicing the capital invested in construction work-in-process. AFUDC is segregated into two component parts – borrowed funds and equity funds. |
Advances to and Investment in Affiliates | Advances to and Investments in Unconsolidated Affiliates We own interests in a number of related businesses that are accounted for by the equity method. In general, we use the equity method of accounting for an investment for which we exercise significant influence over, but do not control, the investee’s operating and financial policies. An impairment of an investment in an unconsolidated affiliate is recognized when circumstances indicate that a decline in the investment value is other than temporary. |
Other Noncurrent Assets [Policy Text Block] | Other Non-Current Assets, net |
Intangible Assets Disclosure [Text Block] | Intangible Assets Intangible assets are stated at cost, net of amortization computed on the straight-line method. The Partnership removes the gross carrying amount and the related accumulated amortization for any fully amortized intangibles in the year they are fully amortized. Components and useful lives of intangible assets were as follows: December 31, 2019 December 31, 2018 Gross Carrying Amount Accumulated Amortization Gross Carrying Amount Accumulated Amortization Amortizable intangible assets: Customer relationships, contracts and agreements (3 to 46 years) $ 7,074 $ (1,741 ) $ 7,106 $ (1,493 ) Patents (10 years) 48 (35 ) 48 (30 ) Trade Names (20 years) 66 (31 ) 66 (28 ) Other (5 to 20 years) 19 (12 ) 33 (9 ) Total amortizable intangible assets 7,207 (1,819 ) 7,253 (1,560 ) Non-amortizable intangible assets: Trademarks 295 — 295 — Other 12 — 12 — Total non-amortizable intangible assets 307 — 307 — Total intangible assets $ 7,514 $ (1,819 ) $ 7,560 $ (1,560 ) Aggregate amortization expense of intangible assets was as follows: Years Ended December 31, 2019 2018 2017 Reported in depreciation, depletion and amortization expense $ 308 $ 321 $ 336 Estimated aggregate amortization expense for the next five years is as follows: Years Ending December 31: 2020 $ 371 2021 367 2022 337 2023 297 2024 284 We review amortizable intangible assets for impairment whenever events or changes in circumstances indicate that the carrying amount of such assets may not be recoverable. If such a review should indicate that the carrying amount of amortizable intangible assets is not recoverable, we reduce the carrying amount of such assets to fair value. We review non-amortizable intangible assets for impairment annually, or more frequently if circumstances dictate. Sunoco LP performed impairment tests on its indefinite-lived intangible assets during the fourth quarter of 2018 and recognized a $30 million impairment charge on its contractual rights , included in other in the table above, primarily due to decreases in projected future revenues and cash flows from the date the intangible assets were originally recorded. Sunoco LP performed impairment tests on its indefinite-lived intangible assets during the fourth quarter of 2017 and recognized a total of $17 million in impairment charges on their contractual rights and liquor licenses primarily due to decreases in projected future revenues and cash flows from the date the intangible assets were originally recorded. |
Goodwill | Goodwill Goodwill is tested for impairment annually or more frequently if circumstances indicate that goodwill might be impaired. The annual impairment test is performed during the fourth quarter. Changes in the carrying amount of goodwill were as follows: 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 All Other Total Balance, December 31, 2017 $ 10 $ 196 $ 870 $ 693 $ 1,167 $ 1,430 $ — $ 363 $ 4,729 Acquired — — — — — 129 366 — 495 CDM Contribution — — — — — — 253 (253 ) — Impaired — — (378 ) — — — — — (378 ) Other — — — — — — — 39 39 Balance, December 31, 2018 10 196 492 693 1,167 1,559 619 149 4,885 Acquired — 42 — — — — — — 42 Impaired — (12 ) (9 ) — — — — — (21 ) Other — — — — — (4 ) — — (4 ) Balance, December 31, 2019 $ 10 $ 226 $ 483 $ 693 $ 1,167 $ 1,555 $ 619 $ 149 $ 4,902 Goodwill is recorded at the acquisition date based on a preliminary purchase price allocation and generally may be adjusted when the purchase price allocation is finalized. During the third quarter of 2019, the Partnership recognized a goodwill impairment of $12 million related to the Southwest Gas operations within the interstate segment primarily due to decreases in projected future revenues and cash flows. During the fourth quarter of 2019, the Partnership recognized a goodwill impairment of $9 million related to our North Central operations within the midstream segment primarily due to changes in assumptions related to projected future revenues and cash flows. During the fourth quarter of 2018, the Partnership recognized goodwill impairments of $378 million related to our Northeast operations within the midstream segment primarily due to changes in assumptions related to projected future revenues and cash flows from the dates the goodwill was originally recorded. These changes in assumptions reflect delays in the construction of third-party takeaway capacity in the Northeast. During the fourth quarter of 2017, the Partnership recognized goodwill impairments of $262 million in the interstate transportation and storage segment, $79 million in the NGL and refined products transportation and services segment and $452 million in the all other segment primarily due to changes in assumptions related to projected future revenues and cash flows from the dates the goodwill was originally recorded. Sunoco LP recognized goodwill impairments of $387 million , of which $102 million was allocated to continuing operations , primarily due to changes in assumptions related to projected future revenues and cash flows from the dates the goodwill was originally recorded. In connection with aforementioned impairments, the Partnership determined the fair value of our reporting units using a weighted combination of the discounted cash flow method and the guideline company method. Determining the fair value of a reporting unit requires judgment and the use of significant estimates and assumptions. Such estimates and assumptions include revenue growth rates, operating margins, weighted average costs of capital and future market conditions, among others. The Partnership believes the estimates and assumptions used in our impairment assessments are reasonable and based on available market information, but variations in any of the assumptions could result in materially different calculations of fair value and determinations of whether or not an impairment is indicated. Under the discounted cash flow method, the Partnership determined fair value based on estimated future cash flows of each reporting unit including estimates for capital expenditures, discounted to present value using the risk-adjusted industry rate, which reflect the overall level of inherent risk of the reporting unit. Cash flow projections are derived from one year budgeted amounts and five year operating forecasts plus an estimate of later period cash flows, all of which are evaluated by management. Subsequent period cash flows are developed for each reporting unit using growth rates that management believes are reasonably likely to occur. Under the guideline company method, the Partnership determined the estimated fair value of each of our reporting units by applying valuation multiples of comparable publicly-traded companies to each reporting unit’s projected EBITDA and then averaging that estimate with similar historical calculations using a three year average. In addition, the Partnership estimated a reasonable control premium representing the incremental value that accrues to the majority owner from the opportunity to dictate the strategic and operational actions of the business. |
Asset Retirement Obligation | Asset Retirement Obligations We have determined that we are obligated by contractual or regulatory requirements to remove facilities or perform other remediation upon retirement of certain assets. The fair value of any ARO is determined based on estimates and assumptions related to retirement costs, which the Partnership bases on historical retirement costs, future inflation rates and credit-adjusted risk-free interest rates. These fair value assessments are considered to be Level 3 measurements, as they are based on both observable and unobservable inputs. Changes in the liability are recorded for the passage of time (accretion) or for revisions to cash flows originally estimated to settle the ARO. An ARO is required to be recorded when a legal obligation to retire an asset exists and such obligation can be reasonably estimated. We will record an ARO in the periods in which management can reasonably estimate the settlement dates. Except for certain amounts discussed below, management was not able to reasonably measure the fair value of AROs as of December 31, 2019 and 2018 , in most cases because the settlement dates were indeterminable. Although a number of other onshore assets in Panhandle’s system are subject to agreements or regulations that give rise to an ARO upon Panhandle’s discontinued use of these assets, AROs were not recorded because these assets have an indeterminate removal or abandonment date given the expected continued use of the assets with proper maintenance or replacement. ETC Sunoco has legal AROs for several other assets at its previously owned refineries, pipelines and terminals, for which it is not possible to estimate when the obligations will be settled. Consequently, the retirement obligations for these assets cannot be measured at this time. At the end of the useful life of these underlying assets, ETC Sunoco is legally or contractually required to abandon in place or remove the asset. We believe we may have additional AROs related to ETC Sunoco’s pipeline assets and storage tanks, for which it is not possible to estimate whether or when the AROs will be settled. Consequently, these AROs cannot be measured at this time. Sunoco LP has AROs related to the estimated future cost to remove underground storage tanks. As of December 31, 2019 and 2018 , other non-current liabilities in the Partnership’s consolidated balance sheets included AROs of $223 million and $193 million , respectively. For the years ended December 31, 2019, 2018 and 2017 aggregate accretion expense related to AROs was $5 million , $13 million and $9 million , respectively. Individual component assets have been and will continue to be replaced, but the pipeline and the natural gas gathering and processing systems will continue in operation as long as supply and demand for natural gas exists. Based on the widespread use of natural gas in industrial and power generation activities, management expects supply and demand to exist for the foreseeable future. We have in place a rigorous repair and maintenance program that keeps the pipelines and the natural gas gathering and processing systems in good working order. Therefore, although some of the individual assets may be replaced, the pipelines and the natural gas gathering and processing systems themselves will remain intact indefinitely. Oher non-current assets on the Partnership’s consolidated balance sheet included $31 million and $26 million of legally restricted funds for the purpose of settling AROs as of December 31, 2019 and 2018 , respectively. |
Accrued and Other Current Liabilities | Deposits or advances are received from our customers as prepayments for natural gas deliveries in the following month. Prepayments and security deposits may be required when customers exceed their credit limits or do not qualify for open credit. |
Redeemable Noncontrolling Interest [Text Block] | Redeemable Noncontrolling Interests Our redeemable noncontrolling interests relate to certain preferred unitholders of one of our consolidated subsidiaries that have the option to convert their preferred units to such subsidiary’s common units at the election of the holders and the noncontrolling interest holders in one of our consolidated subsidiaries that have the option to sell their interests to us. In accordance with applicable accounting guidance, the noncontrolling interest is excluded from total equity and reflected as redeemable noncontrolling interests on our consolidated balance sheet. See Note 6 for further information. |
Environmental Costs, Policy [Policy Text Block] | Environmental Remediation We accrue environmental remediation costs for work at identified sites where an assessment has indicated that cleanup costs are probable and reasonably estimable. Such accruals are undiscounted and are based on currently available information, estimated timing of remedial actions and related inflation assumptions, existing technology and presently enacted laws and regulations. If a range of probable environmental cleanup costs exists for an identified site, the minimum of the range is accrued unless some other point in the range is more likely in which case the most likely amount in the range is accrued. |
Fair Value of Financial Instruments, Policy [Policy Text Block] | Fair Value of Financial Instruments The carrying amounts of cash and cash equivalents, accounts receivable and accounts payable approximate their fair value. 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 debt obligations as of December 31, 2019 was $54.08 billion and $50.35 billion , respectively. As of December 31, 2018 , the aggregate fair value and carrying amount of our 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, interest rate derivatives and embedded derivatives in our preferred units 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 year ended December 31, 2019 , no transfers were made between any levels within the fair value hierarchy. |
Contributions in Aid of Construction Costs | Contributions in Aid of Construction Costs On certain of our capital projects, third parties are obligated to reimburse us for all or a portion of project expenditures. The majority of such arrangements are associated with pipeline construction and production well tie-ins. Contributions in aid of construction costs (“CIAC”) are netted against our project costs as they are received, and any CIAC which exceeds our total project costs, is recognized as other income in the period in which it is realized. |
Shipping and Handling Costs | Shipping and Handling Costs Shipping and handling costs are included in cost of products sold, except for shipping and handling costs related to fuel consumed for compression and treating which are included in operating expenses. |
Costs and Expenses | Costs and Expenses Cost of products sold include actual cost of fuel sold, adjusted for the effects of our hedging and other commodity derivative activities, and the cost of appliances, parts and fittings. Operating expenses include all costs incurred to provide products to customers, including compensation for operations personnel, insurance costs, vehicle maintenance, advertising costs, purchasing costs and plant operations. Selling, general and administrative expenses include all partnership related expenses and compensation for executive, partnership, and administrative personnel. We record the collection of taxes to be remitted to government authorities on a net basis except for our all other segment in which consumer excise taxes on sales of refined products and merchandise are included in both revenues and costs and expenses in the consolidated statements of operations, with no effect on net income . For the years ended December 31, 2019 , 2018 and 2017 , excise taxes collected by Sunoco LP were $386 million , $370 million and $234 million , respectively. |
Consolidation, Subsidiary Stock Issuances, Policy [Policy Text Block] | Issuances of Subsidiary Units We record changes in our ownership interest of our subsidiaries as equity transactions, with no gain or loss recognized in consolidated net income or comprehensive income. For example, upon our subsidiary’s issuance of common units in a public offering, we record any difference between the amount of consideration received or paid and the amount by which the noncontrolling interests are adjusted as a change in partners’ capital. |
Income Tax, Policy [Policy Text Block] | Income Taxes ETO is a publicly traded limited partnership and is not taxable for federal and most state income tax purposes. As a result, our earnings or losses, to the extent not included in a taxable subsidiary, for federal and most state purposes are included in the tax returns of the individual partners. Net earnings for financial statement purposes may differ significantly from taxable income reportable to our preferred unitholders as a result of differences between the tax basis and financial basis of assets and liabilities, differences between the tax accounting and financial accounting treatment of certain items, and due to allocation requirements related to taxable income under our Fifth Amended and Restated Agreement of Limited Partnership (the “Partnership Agreement”). As a publicly traded limited partnership, we are subject to a statutory requirement that our “qualifying income” (as defined by the Internal Revenue Code, related Treasury Regulations, and Internal Revenue Service (“IRS”) pronouncements) exceed 90% of our total gross income, determined on a calendar year basis. If our qualifying income does not meet this statutory requirement, ETO would be taxed as a corporation for federal and state income tax purposes. For the years ended December 31, 2019, 2018 and 2017 , our qualifying income met the statutory requirement. The Partnership conducts certain activities through corporate subsidiaries which are subject to federal, state and local income taxes. These corporate subsidiaries include ETP Holdco, Inland Corporation, Sunoco Property Company LLC and Aloha. The Partnership and its corporate subsidiaries account for income taxes under the asset and liability method. Under this method, deferred tax assets and liabilities are recognized for the estimated future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax basis. Deferred tax assets and liabilities are measured using enacted tax rates in effect for the year in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rate is recognized in earnings in the period that includes the enactment date. Valuation allowances are established when necessary to reduce deferred tax assets to the amounts more likely than not to be realized. The determination of the provision for income taxes requires significant judgment, use of estimates, and the interpretation and application of complex tax laws. Significant judgment is required in assessing the timing and amounts of deductible and taxable items and the probability of sustaining uncertain tax positions. The benefits of uncertain tax positions are recorded in our financial statements only after determining a more-likely-than-not probability that the uncertain tax positions will withstand challenge, if any, from taxing authorities. When facts and circumstances change, we reassess these probabilities and record any changes through the provision for income taxes. |
Accounting for Derivative Instruments and Hedging Activities | Accounting for Derivative Instruments and Hedging Activities For qualifying hedges, we formally document, designate and assess the effectiveness of transactions that receive hedge accounting treatment and the gains and losses offset related results on the hedged item in the statement of operations. The market prices used to value our financial derivatives and related transactions have been determined using independent third-party prices, readily available market information, broker quotes and appropriate valuation techniques. At inception of a hedge, we formally document the relationship between the hedging instrument and the hedged item, the risk management objectives, and the methods used for assessing and testing effectiveness and how any ineffectiveness will be measured and recorded. We also assess, both at the inception of the hedge and on a quarterly basis, whether the derivatives that are used in our hedging transactions are highly effective in offsetting changes in cash flows. If we determine that a derivative is no longer highly effective as a hedge, we discontinue hedge accounting prospectively by including changes in the fair value of the derivative in net income for the period. If we designate a commodity hedging relationship as a fair value hedge, we record the changes in fair value of the hedged asset or liability in cost of products sold in our consolidated statements of operations. This amount is offset by the changes in fair value of the related hedging instrument. Any ineffective portion or amount excluded from the assessment of hedge ineffectiveness is also included in the cost of products sold in the consolidated statements of operations. Cash flows from derivatives accounted for as cash flow hedges are reported as cash flows from operating activities, in the same category as the cash flows from the items being hedged. If we designate a derivative financial instrument as a cash flow hedge and it qualifies for hedge accounting, the change in the fair value is deferred in AOCI until the underlying hedged transaction occurs. Any ineffective portion of a cash flow hedge’s change in fair value is recognized each period in earnings. Gains and losses deferred in AOCI related to cash flow hedges remain in AOCI until the underlying physical transaction occurs, unless it is probable that the forecasted transaction will not occur by the end of the originally specified time period or within an additional two-month period of time thereafter. For financial derivative instruments that do not qualify for hedge accounting, the change in fair value is recorded in cost of products sold in the consolidated statements of operations. We manage a portion of our interest rate exposures by utilizing interest rate swaps and similar instruments. Certain of our interest rate derivatives are accounted for as either cash flow hedges or fair value hedges. For interest rate derivatives accounted for as either cash flow or fair value hedges, we report realized gains and losses and ineffectiveness portions of those hedges in interest expense. For interest rate derivatives not designated as hedges for accounting purposes, we report realized and unrealized gains and losses on those derivatives in “Gains (losses) on interest rate derivatives” in the consolidated statements of operations. |
Share-based Payment Arrangement [Policy Text Block] | Non-Cash Compensation For awards of restricted units, we recognize compensation expense over the vesting period based on the grant-date fair value, which is determined based on the market price of the underlying common units on the grant date. For awards of cash restricted units, we remeasure the fair value of the award at the end of each reporting period based on the market price of the underlying common units as of the reporting date, and the fair value is recorded in other non-current liabilities on our consolidated balance sheets. |
Pension and Other Postretirement Plans, Policy [Policy Text Block] | Pensions and Other Postretirement Benefit Plans The Partnership recognizes the overfunded or underfunded status of defined benefit pension and other postretirement plans, measured as the difference between the fair value of the plan assets and the benefit obligation (the projected benefit obligation for pension plans and the accumulated postretirement benefit obligation for other postretirement plans). Each overfunded plan is recognized as an asset and each underfunded plan is recognized as a liability. Changes in the funded status of the plan are recorded in the year in which the change occurs within AOCI in equity or, for entities applying regulatory accounting, as a regulatory asset or regulatory liability. |
Allocation of Income (Loss) | Allocation of Income For purposes of maintaining partner capital accounts, the Partnership Agreement specifies that items of income and loss shall generally be allocated among the partners in accordance with their percentage interests. The capital account provisions of our Partnership Agreement incorporate principles established for United States Federal income tax purposes and may not be comparable to the partners’ capital balances reflected under GAAP in our consolidated financial statements. Subsequent to the Energy Transfer Merger, our general partner owns a non-economic interest in us and, therefore, our net income for partners’ capital and statement of operations presentation purposes is allocated entirely to the Limited Partners. |
Revenue (Policies)
Revenue (Policies) | 12 Months Ended |
Dec. 31, 2019 | |
Revenue Recognition and Deferred Revenue [Abstract] | |
Revenue, Remaining Performance Obligation, Provision for Loss [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 contract consideration it expects to be entitled to, 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 contracts, only the fixed component of the contracts are included in the table below. Sunoco LP distributes fuel under long-term contracts to branded distributors, branded and unbranded third party dealers, and branded and unbranded retail fuel outlets. Sunoco LP branded supply contracts with distributors generally have both time and volume commitments that establish contract duration. These contracts have an initial term of approximately nine years, with an estimated, volume-weighted term remaining of approximately four years. As part of the asset purchase agreement with 7-Eleven, Sunoco LP and 7-Eleven and SEI Fuel (collectively, the “Distributor”) have entered into a 15-year take-or-pay fuel supply agreement in which the Distributor is required to purchase a volume of fuel that provides Sunoco LP a minimum amount of gross profit annually. Sunoco LP expects to recognize this revenue in accordance with the contract as Sunoco LP transfers control of the product to the customer. However, in case of annual shortfall Sunoco LP will recognize the amount payable by the Distributor at the sooner of the time at which the Distributor makes up the shortfall or becomes contractually or operationally unable to do so. The transaction price of the contract is variable in nature, fluctuating based on market conditions. The Partnership has elected to take the practical expedient not to estimate the amount of variable consideration allocated to wholly unsatisfied performance obligations. In some contractual arrangements, Sunoco LP grants dealers a franchise license to operate Sunoco LP’s retail stores over the life of a franchise agreement. In return for the grant of the retail store license, the dealer makes a one-time nonrefundable franchise fee payment to Sunoco LP plus sales based royalties payable to Sunoco LP at a contractual rate during the period of the franchise agreement. Under the requirements of ASC Topic 606, the franchise license is deemed to be a symbolic license for which recognition of revenue over time is the most appropriate measure of progress toward complete satisfaction of the performance obligation. Revenue from this symbolic license is recognized evenly over the life of the franchise agreement. |
Revenue Recognition, Deferred Revenue [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 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, January 1, 2018 $ 221 Additions 765 Revenue recognized (592 ) Balance, December 31, 2018 394 Additions 643 Revenue recognized (679 ) Balance, December 31, 2019 $ 358 The balances of receivables from contracts with customers listed in the table below 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 Recognition | 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. Disaggregation of revenue The major types of revenue within our reportable segments, are as follows: • 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 ; • fuel distribution and marketing; • all other; • investment in USAC ; • contract operations; • retail parts and services; and • all other . Note 16 depicts the disaggregation of revenue by segment, with revenue amounts reflected in accordance with ASC Topic 606 for 2019 and 2018 and ASC Topic 605 for 2017 . Intrastate transportation and storage revenue Our intrastate transportation and storage segment’s revenues are determined primarily by the volume of capacity our customers reserve as well as the actual volume of natural gas that flows through the transportation pipelines or that is injected or withdrawn into or out of our storage facilities. Firm transportation and storage contracts require customers to pay certain minimum fixed fees regardless of the volume of commodity they transport or store. These contracts typically include a variable incremental charge based on the actual volume of transportation commodity throughput or stored commodity injected/withdrawn. Under interruptible transportation and storage contracts, customers are not required to pay any fixed minimum amounts, but are instead billed based on actual volume of commodity they transport across our pipelines or inject/withdraw into or out of our storage facilities. Payment for services under these contracts are typically due the month after the services have been performed. The performance obligation with respect to firm contracts is a promise to provide a single type of service (transportation or storage) daily over the life of the contract, which is fundamentally a “stand-ready” service. While there can be multiple activities required to be performed, these activities are not separable because such activities in combination are required to successfully transfer the overall service for which the customer has contracted. The fixed consideration of the transaction price is allocated ratably over the life of the contract and revenue for the fixed consideration is recognized over time, because the customer simultaneously receives and consumes the benefit of this “stand-ready” service. Incremental fees associated with actual volume for each respective period are recognized as revenue in the period the incremental volume of service is performed. The performance obligation with respect to interruptible contracts is also a promise to provide a single type of service, but such promise is made on a case-by-case basis at the time the customer requests the service and we accept the customer’s request. Revenue is recognized for interruptible contracts at the time the services are performed. Our intrastate transportation and storage segment also generates revenues and margin from the sale of natural gas to electric utilities, independent power plants, local distribution companies, industrial end-users and other marketing companies on the HPL System. Generally, we purchase natural gas from the market, including purchases from our marketing operations, and from producers at the wellhead. Interstate transportation and storage revenue Our interstate transportation and storage segment’s revenues are determined primarily by the amount of capacity our customers reserve as well as the actual volume of natural gas that flows through the transportation pipelines or that is injected into or withdrawn out of our storage facilities. Our interstate transportation and storage segment’s contracts can be firm or interruptible. Firm transportation and storage contracts require customers to pay certain minimum fixed fees regardless of the volume of commodity transported or stored. In exchange for such fees, we must stand ready to perform a contractually agreed-upon minimum volume of services whenever the customer requests such services. These contracts typically include a variable incremental charge based on the actual volume of transportation commodity throughput or stored commodity injected or withdrawn. Under interruptible transportation and storage contracts, customers are not required to pay any fixed minimum amounts, but are instead billed based on actual volume of commodity they transport across our pipelines or inject into or withdraw out of our storage facilities. Consequently, we are not required to stand ready to provide any contractually agreed-upon volume of service, but instead provides the services based on existing capacity at the time the customer requests the services. Payment for services under these contracts are typically due the month after the services have been performed. The performance obligation with respect to firm contracts is a promise to provide a single type of service (transportation or storage) daily over the life of the contract, which is fundamentally a “stand-ready” service. While there can be multiple activities required to be performed, these activities are not separable because such activities in combination are required to successfully transfer the overall service for which the customer has contracted. The fixed consideration of the transaction price is allocated ratably over the life of the contract and revenue for the fixed consideration is recognized over time, because the customer simultaneously receives and consumes the benefit of this “stand-ready” service. Incremental fees associated with actual volume for each respective period are recognized as revenue in the period the incremental volume of service is performed. The performance obligation with respect to interruptible contracts is also a promise to provide a single type of services, but such promise is made on a case-by-case basis at the time the customer requests the service and we accept the customer’s request. Revenue is recognized for interruptible contracts at the time the services are performed. Lake Charles LNG’s revenues are primarily derived from terminalling services for shippers by receiving LNG at the facility for storage and delivering such LNG to shippers, either in liquid state or gaseous state after regasification. Lake Charles LNG derives all of its revenue from a series of long term contracts with a wholly-owned subsidiary of Royal Dutch Shell plc (“Shell”). Terminalling revenue is generated from fees paid by Shell for storage and other associated services at the terminal. Payment for services under these contracts are typically due the month after the services have been performed. The terminalling agreements are considered to be firm agreements, because they include fixed fee components that are charged regardless of the volumes transported by Shell or services provided at the terminal. The performance obligation with respect to firm contracts is a promise to provide a single type of service (terminalling) daily over the life of the contract, which is fundamentally a “stand-ready” service. While there can be multiple activities required to be performed, these activities are not separable because such activities in combination are required to successfully transfer the overall service for which the customer has contracted. The fixed consideration of the transaction price is allocated ratably over the life of the contract and revenue for the fixed consideration is recognized over time, because the customer simultaneously receives and consumes the benefit of this “stand-ready” service. Incremental fees associated with actual volume for each respective period are recognized as revenue in the period the incremental volume of service is performed. Midstream revenue Our midstream segment’s revenues are derived primarily from margins we earn for natural gas volumes that are gathered, processed, and/or transported. The various types of revenue contracts our midstream segment enters into include: Fixed fee gathering and processing: Contracts under which we provide gathering and processing services in exchange for a fixed cash fee per unit of volume. Revenue for cash fees is recognized when the service is performed. Keepwhole: Contracts under which we gather raw natural gas from a third party producer, process the gas to convert it to pipeline quality natural gas, and redeliver to the producer a thermal-equivalent volume of pipeline quality natural gas. In exchange for these services, we retain the NGLs extracted from the raw natural gas received from the producer as well as cash fees paid by the producer. The value of NGLs retained as well as cash fees is recognized as revenue when the services are performed. Percent of Proceeds (“POP”): Contracts under which we provide gathering and processing services in exchange for a specified percentage of the producer’s commodity (“POP percentage”) and also in some cases additional cash fees. The two types of POP revenue contracts are described below: • In-Kind POP: We retain our POP percentage (non-cash consideration) and also any additional cash fees in exchange for providing the services. We recognize revenue for the non-cash consideration and cash fees at the time the services are performed. • Mixed POP: We purchase NGLs from the producer and retain a portion of the residue gas as non-cash consideration for services provided. We may also receive cash fees for such services. Under Topic 606, these agreements were determined to be hybrid agreements which were partially supply agreements (for the NGLs we purchased) and customer agreements (for the services provided related to the product that was returned to the customer). Given that these are hybrid agreements, we split the cash and non-cash consideration between revenue and a reduction of costs based on the value of the service provided vs. the value of the supply received. Payment for services under these contracts are typically due the month after the services have been performed. The performance obligations with respect to our midstream segment’s contracts are to provide gathering, transportation and processing services, each of which would be completed on or about the same time, and each of which would be recognized on the same line item on the income statement, therefore identification of separate performance obligations would not impact the timing or geography of revenue recognition. Certain contracts of our midstream segment include throughput commitments under which customers commit to purchasing a certain minimum volume of service over a specified time period. If such volume of service is not purchased by the customer, deficiency fees are billed to the customer. In some cases, the customer is allowed to apply any deficiency fees paid to future purchases of services. In such cases, we defer revenue recognition until the customer uses the deficiency fees for 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. Our midstream segment also generates revenues from the sale of residue gas and NGLs at the tailgate of our processing facilities primarily to affiliates and some third-party customers. NGL and refined products transportation and services revenue Our NGL and refined products segment’s revenues are primarily derived from transportation, fractionation, blending, and storage of NGL and refined products as well as acquisition and marketing activities. Revenues are generated utilizing a complementary network of pipelines, storage and blending facilities, and strategic off-take locations that provide access to multiple NGL markets. Transportation, fractionation, and storage revenue is generated from fees charged to customers under a combination of firm and interruptible contracts. Firm contracts are in the form of take-or-pay arrangements where certain fees will be charged to customers regardless of the volume of service they request for any given period. Under interruptible contracts, customers are not required to pay any fixed minimum amounts, but are instead billed based on actual volume of service provided for any given period. Payment for services under these contracts are typically due the month after the services have been performed. The performance obligation with respect to firm contracts is a promise to provide a single type of service (transportation, fractionation, blending, or storage) daily over the life of the contract, which is fundamentally a “stand-ready” service. While there can be multiple activities required to be performed, these activities are not separable because such activities in combination are required to successfully transfer the overall service for which the customer has contracted. The fixed consideration of the transaction price is allocated ratably over the life of the contract and revenue for the fixed consideration is recognized over time, because the customer simultaneously receives and consumes the benefit of this “stand-ready” service. Incremental fees associated with actual volume for each respective period are recognized as revenue in the period the incremental volume of service is performed. The performance obligation with respect to interruptible contracts is also a promise to provide a single type of services, but such promise is made on a case-by-case basis at the time the customer requests the service and we accept the customer’s request. Revenue is recognized for interruptible contracts at the time the services are performed. Acquisition and marketing contracts are in most cases short-term agreements involving purchase and/or sale of NGLs and other related hydrocarbons at market rates. These contracts were not affected by ASC 606. Crude oil transportation and services revenue Our crude oil transportation and services segment revenues are primarily derived from providing transportation, terminalling and acquisition and marketing services to crude oil markets throughout the southwest, midwest and northeastern United States. Crude oil transportation revenue is generated from tariffs paid by shippers utilizing our transportation services and is generally recognized as the related transportation services are provided. Crude oil terminalling revenue is generated from fees paid by customers for storage and other associated services at the terminal. Crude oil acquisition and marketing revenue is generated from sale of crude oil acquired from a variety of suppliers to third parties. Payment for services under these contracts are typically due the month after the services have been performed. Certain transportation and terminalling agreements are considered to be firm agreements, because they include fixed fee components that are charged regardless of the volume of crude oil transported by the customer or services provided at the terminal. For these agreements, any fixed fees billed in excess of services provided are not recognized as revenue until the earlier of (i) the time at which the customer applies the fees against cost of service provided in a later period, or (ii) the customer becomes unable to apply the fees against cost of future service due to capacity constraints or contractual terms. The performance obligation with respect to firm contracts is a promise to provide a single type of service (transportation or terminalling) daily over the life of the contract, which is fundamentally a “stand-ready” service. While there can be multiple activities required to be performed, these activities are not separable because such activities in combination are required to successfully transfer the overall service for which the customer has contracted. The fixed consideration of the transaction price is allocated ratably over the life of the contract and revenue for the fixed consideration is recognized over time, because the customer simultaneously receives and consumes the benefit of this “stand-ready” service. Incremental fees associated with actual volume for each respective period are recognized as revenue in the period the incremental volume of service is performed. The performance obligation with respect to interruptible contracts is also a promise to provide a single type of service, but such promise is made on a case-by-case basis at the time the customer requests the service and/or product and we accept the customer’s request. Revenue is recognized for interruptible contracts at the time the services are performed. Acquisition and marketing contracts are in most cases short-term agreements involving purchase and/or sale of crude oil at market rates. These contracts were not affected by ASC 606. Sunoco LP’s fuel distribution and marketing revenue Sunoco LP’s fuel distribution and marketing operations earn revenue from the following channels: sales to Dealers, sales to Distributors, Unbranded Wholesale Revenue, Commission Agent Revenue, Rental Income and Other Income. Motor fuel revenue consists primarily of the sale of motor fuel under supply agreements with third party customers and affiliates. Fuel supply contracts with Sunoco LP’s customers generally provide that Sunoco LP distribute motor fuel at a formula price based on published rates, volume-based profit margin, and other terms specific to the agreement. The customer is invoiced the agreed-upon price with most payment terms ranging less than 30 days. If the consideration promised in a contract includes a variable amount, Sunoco LP estimates the variable consideration amount and factors in such an estimate to determine the transaction price under the expected value method. Revenue is recognized under the motor fuel contracts at the point in time the customer takes control of the fuel. At the time control is transferred to the customer the sale is considered final, because the agreements do not grant customers the right to return motor fuel. Under the new standard, to determine when control transfers to the customer, the shipping terms of the contract are assessed as shipping terms are considered a primary indicator of the transfer of control. For FOB shipping point terms, revenue is recognized at the time of shipment. The performance obligation with respect to the sale of goods is satisfied at the time of shipment since the customer gains control at this time under the terms. Shipping and/or handling costs that occur before the customer obtains control of the goods are deemed to be fulfillment activities and are accounted for as fulfillment costs. Once the goods are shipped, Sunoco LP is precluded from redirecting the shipment to another customer and revenue is recognized. Commission agent revenue consists of sales from commission agent agreements between Sunoco LP and select operators. Sunoco LP supplies motor fuel to sites operated by commission agents and sells the fuel directly to the end customer. In commission agent arrangements, control of the product is transferred at the point in time when the goods are sold to the end customer. To reflect the transfer of control, Sunoco LP recognizes commission agent revenue at the point in time fuel is sold to the end customer. Sunoco LP receives rental income from leased or subleased properties. Revenue from leasing arrangements for which Sunoco LP is the lessor are recognized ratably over the term of the underlying lease. Sunoco LP’s all other revenue Sunoco LP’s all other operations earn revenue from the following channels: Motor Fuel Sales, Rental Income and Other Income. Motor Fuel Sales consist of fuel sales to consumers at company-operated retail stores. Other income includes merchandise revenue that comprises the in-store merchandise and food service sales at company-operated retail stores, and other revenue that represents a variety of other services within Sunoco LP’s all other operations including credit card processing, car washes, lottery, automated teller machines, money orders, prepaid phone cards and wireless services. Revenue from all other operations is recognized when (or as) the performance obligations are satisfied (i.e. when the customer obtains control of the good or the service is provided). USAC’s contract operations revenue USAC’s revenue from contracted compression, station, gas treating and maintenance services is recognized ratably under its fixed-fee contracts over the term of the contract as services are provided to its customers. Initial contract terms typically range from six months to five years, however USAC usually continues to provide compression services at a specific location beyond the initial contract term, either through contract renewal or on a month-to-month or longer basis. USAC primarily enters into fixed-fee contracts whereby its customers are required to pay the monthly fee even during periods of limited or disrupted throughput. Services are generally billed monthly, one month in advance of the commencement of the service month, except for certain customers who are billed at the beginning of the service month, and payment is generally due 30 days after receipt of the invoice. Amounts invoiced in advance are recorded as deferred revenue until earned, at which time they are recognized as revenue. The amount of consideration USAC receives and revenue it recognizes is based upon the fixed fee rate stated in each service contract. Variable consideration exists in select contracts when billing rates vary based on actual equipment availability or volume of total installed horsepower. USAC’s contracts with customers may include multiple performance obligations. For such arrangements, USAC allocates revenues to each performance obligation based on its relative standalone service fee. USAC generally determine standalone service fees based on the service fees charged to customers or using expected cost plus margin. The majority of USAC’s service performance obligations are satisfied over time as services are rendered at selected customer locations on a monthly basis and based upon specific performance criteria identified in the applicable contract. The monthly service for each location is substantially the same service month to month and is promised consecutively over the service contract term. USAC measures progress and performance of the service consistently using a straight-line, time-based method as each month passes, because its performance obligations are satisfied evenly over the contract term as the customer simultaneously receives and consumes the benefits provided by its service. If variable consideration exists, it is allocated to the distinct monthly service within the series to which such variable consideration relates. USAC has elected to apply the invoicing practical expedient to recognize revenue for such variable consideration, as the invoice corresponds directly to the value transferred to the customer based on its performance completed to date. There are typically no material obligations for returns or refunds. USAC’s standard contracts do not usually include material non-cash consideration. USAC’s retail parts and services revenue USAC’s retail parts and service revenue is earned primarily on freight and crane charges that are directly reimbursable by USAC’s customers and maintenance work on units at its customers’ locations that are outside the scope of its core maintenance activities. Revenue from retail parts and services is recognized at the point in time the part is transferred or service is provided and control is transferred to the customer. At such time, the customer has the ability to direct the use of the benefits of such part or service after USAC has performed its services. USAC bills upon completion of the service or transfer of the parts, and payment is generally due 30 days after receipt of the invoice. The amount of consideration USAC receives and revenue it recognizes is based upon the invoice amount. There are typically no material obligations for returns, refunds, or warranties. USAC’s standard contracts do not usually include material variable or non-cash consideration. All other revenue Our all other segment primarily includes our compression equipment business which provides full-service compression design and manufacturing services for the oil and gas industry. It also includes the management of coal and natural resources properties and the related collection of royalties. We also earn revenues from other land management activities, such as selling standing timber, leasing coal-related infrastructure facilities, and collecting oil and gas royalties. These operations also include end- user coal handling facilities. There were no material changes to the manner in which revenues within this segment are recorded under the new standard. |
Lease Accounting (Policies)
Lease Accounting (Policies) | 12 Months Ended |
Dec. 31, 2019 | |
Leases [Abstract] | |
Lessee, Leases [Policy Text Block] | 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 The Partnership leases or subleases a portion of its real estate portfolio to third-party companies as a stable source of long-term revenue. Our 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 year ended December 31, 2019 was $146 million . |
Estimates, Significant Accoun_3
Estimates, Significant Accounting Policies and Balance Sheet Detials (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
ESTIMATES, SIGNIFICANT ACCOUNTING POLICIES AND BALANCE SHEET DETAIL | |
Schedule of Accounts Payable and Accrued Liabilities [Table Text Block] | Accrued and other current liabilities consisted of the following: December 31, 2019 2018 Interest payable $ 576 $ 503 Customer advances and deposits 123 128 Accrued capital expenditures 1,265 1,030 Accrued wages and benefits 217 283 Taxes payable other than income taxes 263 256 Exchanges payable 67 112 Other 705 535 Total accrued and other current liabilities $ 3,216 $ 2,847 |
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 |
Net change in operating assets and liabilities (net of acquisitions) | The net change in operating assets and liabilities (net of effects of acquisitions) included in cash flows from operating activities is comprised as follows: Years Ended December 31, 2019 2018 2017 Accounts receivable $ (423 ) $ 506 $ (951 ) Accounts receivable from related companies (25 ) 128 (462 ) Inventories (98 ) 282 58 Other current assets 100 7 40 Other non-current assets, net (126 ) (109 ) (88 ) Accounts payable 101 (769 ) 713 Accounts payable to related companies (94 ) (206 ) 486 Accrued and other current liabilities 50 365 (56 ) Other non-current liabilities (183 ) (34 ) 78 Price risk management assets and liabilities, net 219 (53 ) 9 Net change in operating assets and liabilities, net of effects of acquisitions $ (479 ) $ 117 $ (173 ) |
Non-cash investing and financing activities and supplemental cash flow information | Non-cash investing and financing activities and supplemental cash flow information are as follows: Years Ended December 31, 2019 2018 2017 NON-CASH INVESTING ACTIVITIES: Accrued capital expenditures $ 1,265 $ 1,030 $ 1,060 Lease assets obtained in exchange for new lease liabilities 67 — — Net gains (losses) from subsidiary common unit transactions — (127 ) 5 NON-CASH FINANCING ACTIVITIES: Contribution of assets from noncontrolling interests $ — $ — $ 988 SUPPLEMENTAL CASH FLOW INFORMATION: Cash paid for interest, net of interest capitalized $ 1,798 $ 1,537 $ 1,516 Cash paid for income taxes 30 508 50 |
Inventory | Inventories consisted of the following: December 31, 2019 2018 Natural gas, NGLs and refined products (1) $ 833 $ 833 Crude oil 566 506 Spare parts and other 448 338 Total inventories $ 1,847 $ 1,677 |
Other Current Assets | Other current assets consisted of the following: December 31, 2019 2018 Deposits paid to vendors $ 95 $ 141 Prepaid expenses and other 187 215 Total other current assets $ 282 $ 356 |
Components and useful lives of property, plant and equipment | Components and useful lives of property, plant and equipment were as follows: December 31, 2019 2018 Land and improvements $ 1,075 $ 1,168 Buildings and improvements (1 to 45 years) 2,581 2,636 Pipelines and equipment (5 to 83 years) 62,508 58,783 Product storage and related facilities and equipment (2 to 83 years) 4,739 4,978 Right of way (20 to 83 years) 4,736 4,533 Other (1 to 48 years) 1,499 1,115 Construction work-in-process 8,221 6,067 Property, plant and equipment, gross 85,359 79,280 Less: Accumulated depreciation and depletion (15,388 ) (12,625 ) Property, plant and equipment, net $ 69,971 $ 66,655 |
Depreciation expense | We recognized the following amounts for the periods presented: Years Ended December 31, 2019 2018 2017 Depreciation, depletion and amortization expense $ 2,816 $ 2,522 $ 2,199 Capitalized interest 166 294 286 |
Other non-current assets | Other Non-Current Assets, net Other non-current assets, net are stated at cost less accumulated amortization. Other non-current assets, net consisted of the following: December 31, 2019 2018 Regulatory assets $ 42 $ 43 Pension assets 84 68 Deferred charges 178 178 Restricted funds 178 178 Other 494 539 Total other non-current assets, net $ 976 $ 1,006 Restricted funds includes an immaterial amount of restricted cash primarily held in our wholly-owned captive insurance companies. |
Components and useful lives of intangibles assets | Components and useful lives of intangible assets were as follows: December 31, 2019 December 31, 2018 Gross Carrying Amount Accumulated Amortization Gross Carrying Amount Accumulated Amortization Amortizable intangible assets: Customer relationships, contracts and agreements (3 to 46 years) $ 7,074 $ (1,741 ) $ 7,106 $ (1,493 ) Patents (10 years) 48 (35 ) 48 (30 ) Trade Names (20 years) 66 (31 ) 66 (28 ) Other (5 to 20 years) 19 (12 ) 33 (9 ) Total amortizable intangible assets 7,207 (1,819 ) 7,253 (1,560 ) Non-amortizable intangible assets: Trademarks 295 — 295 — Other 12 — 12 — Total non-amortizable intangible assets 307 — 307 — Total intangible assets $ 7,514 $ (1,819 ) $ 7,560 $ (1,560 ) |
Amortization expense of intangible assets | Aggregate amortization expense of intangible assets was as follows: Years Ended December 31, 2019 2018 2017 Reported in depreciation, depletion and amortization expense $ 308 $ 321 $ 336 |
Amortization expense, expected | Estimated aggregate amortization expense for the next five years is as follows: Years Ending December 31: 2020 $ 371 2021 367 2022 337 2023 297 2024 284 |
Changes in carrying amount of goodwill | Changes in the carrying amount of goodwill were as follows: 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 All Other Total Balance, December 31, 2017 $ 10 $ 196 $ 870 $ 693 $ 1,167 $ 1,430 $ — $ 363 $ 4,729 Acquired — — — — — 129 366 — 495 CDM Contribution — — — — — — 253 (253 ) — Impaired — — (378 ) — — — — — (378 ) Other — — — — — — — 39 39 Balance, December 31, 2018 10 196 492 693 1,167 1,559 619 149 4,885 Acquired — 42 — — — — — — 42 Impaired — (12 ) (9 ) — — — — — (21 ) Other — — — — — (4 ) — — (4 ) Balance, December 31, 2019 $ 10 $ 226 $ 483 $ 693 $ 1,167 $ 1,555 $ 619 $ 149 $ 4,902 Goodwill is recorded at the acquisition date based on a preliminary purchase price allocation and generally may be adjusted when the purchase price allocation is finalized. |
Summary of fair value of financials | The following tables summarize the fair value of our financial assets and liabilities measured and recorded at fair value on a recurring basis as of December 31, 2019 and 2018 based on inputs used to derive their fair values: Fair Value Total Fair Value Measurements at December 31, 2019 Level 1 Level 2 Assets: Commodity derivatives: Natural Gas: Basis Swaps IFERC/NYMEX $ 17 $ 17 $ — Swing Swaps IFERC 1 — 1 Fixed Swaps/Futures 65 65 — Forward Physical Contracts 3 — 3 Power: Forwards 11 — 11 Futures 4 4 — Options – Puts 1 1 — Options – Calls 1 1 — NGLs – Forwards/Swaps 260 260 — Refined Products – Futures 8 8 — Crude – Forwards/Swaps 13 13 — Total commodity derivatives 384 369 15 Other non-current assets 31 20 11 Total assets $ 415 $ 389 $ 26 Liabilities: Interest rate derivatives $ (399 ) $ — $ (399 ) Commodity derivatives: Natural Gas: Basis Swaps IFERC/NYMEX (49 ) (49 ) — Swing Swaps IFERC (1 ) — (1 ) Fixed Swaps/Futures (43 ) (43 ) — Power: Forwards (5 ) — (5 ) Futures (3 ) (3 ) — NGLs – Forwards/Swaps (278 ) (278 ) — Refined Products – Futures (10 ) (10 ) — Total commodity derivatives (389 ) (383 ) (6 ) Total liabilities $ (788 ) $ (383 ) $ (405 ) Fair Value Total Fair Value Measurements at December 31, 2018 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: 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 ) |
Acquisitions, Divestitures an_2
Acquisitions, Divestitures and Related Transactions (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Disposal Groups, Including Discontinued Operations [Table Text Block] | There were no results of operations associated with discontinued operations for the year ended December 31, 2019 . The results of operations associated with discontinued operations for the years ended December 31, 2018 and 2017 are presented in the following table: Years Ended December 31, 2018 2017 REVENUES $ 349 $ 6,964 COSTS AND EXPENSES Cost of products sold 305 5,806 Operating expenses 61 763 Depreciation, depletion and amortization — 34 Selling, general and administrative 7 168 Impairment losses — 285 Total costs and expenses 373 7,056 OPERATING LOSS (24 ) (92 ) OTHER EXPENSE Interest expense, net 2 36 Loss on extinguishment of debt 20 — Other, net 61 1 LOSS FROM DISCONTINUED OPERATIONS BEFORE INCOME TAX EXPENSE (107 ) (129 ) Income tax expense 158 48 LOSS FROM DISCONTINUED OPERATIONS, NET OF INCOME TAXES $ (265 ) $ (177 ) |
SemGroup [Member] | |
Summary Of Preliminary Assets And Liability Acquired | The following table represents the preliminary fair value, as of December 5, 2019, of the SemGroup assets and liabilities transferred from ET to ETO: At December 5, 2019 Total current assets $ 548 Property, plant and equipment 2,544 Other non-current assets 574 Goodwill 230 Intangible assets 280 Total assets 4,176 Total current liabilities 480 Long-term debt, less current maturities 812 Other non-current liabilities 109 Total liabilities 1,401 Noncontrolling interest 335 Partners’ capital 2,440 Total liabilities and partners’ capital $ 4,176 |
USA Compression Partners, LP [Member] | |
Summary Of Preliminary Assets And Liability Acquired | Summary of Assets Acquired and Liabilities Assumed The USAC Transaction was recorded using the acquisition method of accounting, which requires, among other things, that assets acquired and liabilities assumed be recognized on the balance sheet at their fair values as of the acquisition date. The total purchase price was allocated as follows: At April 2, 2018 Total current assets $ 786 Property, plant and equipment 1,332 Other non-current assets 15 Goodwill (1) 366 Intangible assets 222 Total assets 2,721 Total current liabilities 110 Long-term debt, less current maturities 1,527 Other non-current liabilities 2 Total liabilities 1,639 Noncontrolling interest 832 Total consideration 250 Cash received (2) 711 Total consideration, net of cash received (2) $ (461 ) (1) None of the goodwill is expected to be deductible for tax purposes. Goodwill recognized from the business combination primarily relates to the value attributed to additional growth opportunities, synergies and operating leverage within USAC’s operations. (2) Cash received represents cash and cash equivalents held by USAC as of the acquisition date. |
Advances to and Investments i_2
Advances to and Investments in Unconsolidated Affiliates (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Investments in and Advances to Affiliates, Schedule of Investments [Abstract] | |
Investments in and Advances to Affiliates [Table Text Block] | The carrying values of the Partnership’s advances to and investments in unconsolidated affiliates as of December 31, 2019 and 2018 were as follows: December 31, 2019 2018 Citrus $ 1,876 $ 1,737 FEP 218 107 MEP 429 225 Others 495 567 Total $ 3,018 $ 2,636 The following table presents equity in earnings (losses) of unconsolidated affiliates: Years Ended December 31, 2019 2018 2017 Citrus $ 148 $ 141 $ 144 FEP 59 55 53 MEP 15 31 38 Other 76 117 (91 ) Total equity in earnings of unconsolidated affiliates $ 298 $ 344 $ 144 |
Schedule of Investments in and Advances to Affiliates, Schedule of Investments [Table Text Block] | Summarized Financial Information The following tables present aggregated selected balance sheet and income statement data for our unconsolidated affiliates, Citrus, FEP and MEP (on a 100% basis) for all periods presented, except as noted below: December 31, 2019 2018 Current assets $ 247 $ 212 Property, plant and equipment, net 7,680 7,800 Other assets 40 39 Total assets $ 7,967 $ 8,051 Current liabilities $ 738 $ 1,534 Non-current liabilities 3,242 3,439 Equity 3,987 3,078 Total liabilities and equity $ 7,967 $ 8,051 Years Ended December 31, 2019 2018 2017 Revenue $ 1,192 $ 1,249 $ 1,358 Operating income 683 723 407 Net income 443 460 145 In addition to the equity method investments described above we have other equity method investments which are not significant to our consolidated financial statements. |
Debt Obligations (Tables)
Debt Obligations (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Debt Obligations [Abstract] | |
Debt instruments | Our debt obligations consist of the following: December 31, 2019 2018 ETO Debt 9.70% Senior Notes due March 15, 2019 $ — $ 400 9.00% Senior Notes due April 15, 2019 — 450 5.50% Senior Notes due February 15, 2020 (1) 250 250 5.75% Senior Notes due September 1, 2020 (1) 400 400 4.15% Senior Notes due October 1, 2020 (1) 1,050 1,050 7.50% Senior Notes due October 15, 2020 (1) 1,135 — 4.40% Senior Notes due April 1, 2021 600 600 4.65% Senior Notes due June 1, 2021 800 800 5.20% Senior Notes due February 1, 2022 1,000 1,000 4.65% Senior Notes due February 15, 2022 300 300 5.875% Senior Notes due March 1, 2022 900 900 5.00% Senior Notes due October 1, 2022 700 700 3.45% Senior Notes due January 15, 2023 350 350 3.60% Senior Notes due February 1, 2023 800 800 4.25% Senior Notes due March 15, 2023 995 — 4.20% Senior Notes due September 15, 2023 500 500 4.50% Senior Notes due November 1, 2023 600 600 5.875% Senior Notes due January 15, 2024 1,127 — 4.90% Senior Notes due February 1, 2024 350 350 7.60% Senior Notes due February 1, 2024 277 277 4.25% Senior Notes due April 1, 2024 500 500 4.50% Senior Notes due April 15, 2024 750 — 9.00% Debentures due November 1, 2024 65 65 4.05% Senior Notes due March 15, 2025 1,000 1,000 5.95% Senior Notes due December 1, 2025 400 400 4.75% Senior Notes due January 15, 2026 1,000 1,000 3.90% Senior Notes due July 15, 2026 550 550 4.20% Senior Notes due April 15, 2027 600 600 5.50% Senior Notes due June 1, 2027 956 — 4.00% Senior Notes due October 1, 2027 750 750 4.95% Senior Notes due June 15, 2028 1,000 1,000 5.25% Senior Notes due April 15, 2029 1,500 — 8.25% Senior Notes due November 15, 2029 267 267 4.90% Senior Notes due March 15, 2035 500 500 6.625% Senior Notes due October 15, 2036 400 400 5.80% Senior Notes due June 15, 2038 500 500 7.50% Senior Notes due July 1, 2038 550 550 6.85% Senior Notes due February 15, 2040 250 250 6.05% Senior Notes due June 1, 2041 700 700 6.50% Senior Notes due February 1, 2042 1,000 1,000 6.10% Senior Notes due February 15, 2042 300 300 4.95% Senior Notes due January 15, 2043 350 350 5.15% Senior Notes due February 1, 2043 450 450 5.95% Senior Notes due October 1, 2043 450 450 5.30% Senior Notes due April 1, 2044 700 700 5.15% Senior Notes due March 15, 2045 1,000 1,000 5.35% Senior Notes due May 15, 2045 800 800 6.125% Senior Notes due December 15, 2045 1,000 1,000 5.30% Senior Notes due April 15, 2047 900 900 5.40% Senior Notes due October 1, 2047 1,500 1,500 6.00% Senior Notes due June 15, 2048 1,000 1,000 6.25% Senior Notes due April 15, 2049 1,750 — Floating Rate Junior Subordinated Notes due November 1, 2066 546 546 ETO $2.00 billion Term Loan facility due October 2022 2,000 — ETO $5.00 billion Revolving Credit Facility due December 2023 4,214 3,694 Unamortized premiums, discounts and fair value adjustments, net (5 ) 17 Deferred debt issuance costs (207 ) (178 ) 42,120 32,288 Transwestern Debt 5.36% Senior Notes due December 9, 2020 (1) 175 175 5.89% Senior Notes due May 24, 2022 150 150 5.66% Senior Notes due December 9, 2024 175 175 6.16% Senior Notes due May 24, 2037 75 75 Deferred debt issuance costs (1 ) (1 ) 574 574 Panhandle Debt 8.125% Senior Notes due June 1, 2019 — 150 7.60% Senior Notes due February 1, 2024 82 82 7.00% Senior Notes due July 15, 2029 66 66 8.25% Senior Notes due November 15, 2029 33 33 Floating Rate Junior Subordinated Notes due November 1, 2066 54 54 Unamortized premiums, discounts and fair value adjustments, net 11 14 246 399 Bakken Project Debt 3.625% Senior Notes due April 1, 2022 650 — 3.90% Senior Notes due April 1, 2024 1,000 — 4.625% Senior Notes due April 1, 2029 850 — Bakken $2.50 billion Credit Facility due August 2019 — 2,500 Unamortized premiums, discounts and fair value adjustments, net (3 ) — Deferred debt issuance costs (16 ) (3 ) 2,481 2,497 Sunoco LP Debt 4.875% Senior Notes Due January 15, 2023 1,000 1,000 5.50% Senior Notes Due February 15, 2026 800 800 6.00% Senior Notes Due April 15, 2027 600 — 5.875% Senior Notes Due March 15, 2028 400 400 Sunoco LP $1.50 billion Revolving Credit Facility due July 2023 162 700 Lease-related obligations 135 107 Deferred debt issuance costs (26 ) (23 ) 3,071 2,984 USAC Debt 6.875% Senior Notes due April 1, 2026 725 725 6.875% Senior Notes due September 1, 2027 750 — USAC $1.60 billion Revolving Credit Facility due April 2023 403 1,050 Deferred debt issuance costs (26 ) (16 ) 1,852 1,759 Other 2 7 Total debt 50,346 40,508 Less: Current maturities of long-term debt 12 2,655 Long-term debt, less current maturities $ 50,334 $ 37,853 |
Future maturities of long-term debt | The following table reflects future maturities of long-term debt for each of the next five years and thereafter. These amounts exclude $273 million in unamortized net premiums, fair value adjustments and deferred debt issuance costs: 2020 $ 3,021 2021 1,412 2022 5,792 2023 8,960 2024 4,337 Thereafter 27,097 Total $ 50,619 |
Equity (Tables)
Equity (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Schedule of Preferred Units [Table Text Block] | Distributions on the Partnership’s Series A, Series B, Series C, Series D and Series E preferred units declared and/or paid by the Partnership were as follows: Period Ended Record Date Payment Date Series A (1) Series B (1) Series C Series D Series E December 31, 2017 February 1, 2018 February 15, 2018 $ 15.4510 * $ 16.3780 * $ — $ — $ — June 30, 2018 August 1, 2018 August 15, 2018 31.2500 33.1250 0.5634 * — — September 30, 2018 November 1, 2018 November 15, 2018 — — 0.4609 0.5931 * — December 31, 2018 February 1, 2019 February 15, 2019 31.2500 33.1250 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 31.2500 33.1250 0.4609 0.4766 0.5806 * September 30, 2019 November 1, 2019 November 15, 2019 — — 0.4609 0.4766 0.4750 December 31, 2019 February 3, 2020 February 18, 2020 31.2500 33.1250 0.4609 0.4766 0.4750 * Represent prorated initial distributions. Prorated initial distributions on the recently issued Series F and Series G preferred units will be payable in May 2020. (1) Series A Preferred Units and Series B Preferred Unit distributions are paid on a semi-annual basis. 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 years ended December 31, 2019, 2018 and 2017 were as follows: Preferred Unitholders Series A Series B Series C Series D Series E Total Balance, December 31, 2016 $ — $ — $ — $ — $ — $ — Distributions to partners — — — — — — Partnership units issued for cash 937 542 — — — 1,479 Other, net — — — — — — Net income 7 5 — — — 12 Balance, December 31, 2017 944 547 — — — 1,491 Distributions to partners (44 ) (27 ) (18 ) (11 ) — (100 ) Partnership units issued for cash — — 436 431 — 867 Other, net (1 ) — (1 ) (1 ) — (3 ) Net income 59 36 23 15 — 133 Balance, December 31, 2018 958 556 440 434 — 2,388 Distributions to partners (59 ) (37 ) (33 ) (34 ) (34 ) (197 ) Partnership units issued for cash — — — — 780 780 Other, net — — — — (1 ) (1 ) Net income 59 37 33 34 41 204 Balance, December 31, 2019 $ 958 $ 556 $ 440 $ 434 $ 786 $ 3,174 |
Comprehensive Income (Loss) Note [Text Block] | The following table presents the components of AOCI, net of tax: December 31, 2019 2018 Available-for-sale securities $ 13 $ 2 Foreign currency translation adjustment (5 ) (5 ) Actuarial loss related to pensions and other postretirement benefits (25 ) (48 ) Investments in unconsolidated affiliates, net (1 ) 9 Total AOCI, net of tax $ (18 ) $ (42 ) |
Schedule of taxes related to accumulated other comprehensive income [Table Text Block] | The table below sets forth the tax amounts included in the respective components of other comprehensive income: December 31, 2019 2018 Available-for-sale securities $ (1 ) $ (1 ) Foreign currency translation adjustment 2 2 Actuarial loss relating to pension and other postretirement benefits 8 12 Total $ 9 $ 13 |
USA Compression Partners, LP [Member] | |
Distributions Made to Limited Partner, by Distribution [Table Text Block] | Distributions on USAC’s units declared and/or paid by USAC subsequent to the USAC transaction on April 2, 2018 were as follows: Quarter Ended Record Date Payment Date Rate March 31, 2018 May 1, 2018 May 11, 2018 $ 0.5250 June 30, 2018 July 30, 2018 August 10, 2018 0.5250 September 30, 2018 October 29, 2018 November 09, 2018 0.5250 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 December 31, 2019 January 27, 2020 February 7, 2020 0.5250 |
Sunoco LP [Member] | |
Distributions Made to Limited Partner, by Distribution [Table Text Block] | Distributions on Sunoco LP’s units declared and/or paid by Sunoco LP were as follows: Quarter Ended Record Date Payment Date Rate December 31, 2016 February 13, 2017 February 21, 2017 $ 0.8255 March 31, 2017 May 9, 2017 May 16, 2017 0.8255 June 30, 2017 August 7, 2017 August 15, 2017 0.8255 September 30, 2017 November 7, 2017 November 14, 2017 0.8255 December 31, 2017 February 6, 2018 February 14, 2018 0.8255 March 31, 2018 May 7, 2018 May 15, 2018 0.8255 June 30, 2018 August 7, 2018 August 15, 2018 0.8255 September 30, 2018 November 6, 2018 November 14, 2018 0.8255 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 December 31, 2019 February 7, 2020 February 19, 2020 0.8255 |
Schedule of Incentive Distributions Made to Managing Members or General Partners by Distribution [Table Text Block] | The following table illustrates the percentage allocations of available cash from operating surplus between Sunoco LP’s common unitholders and the holder of its IDRs based on the specified target distribution levels, after the payment of distributions to Class C unitholders. The amounts set forth under “marginal percentage interest in distributions” are the percentage interests of the IDR holder and the common unitholders in any available cash from operating surplus which Sunoco LP distributes up to and including the corresponding amount in the column “total quarterly distribution per unit target amount.” The percentage interests shown for common unitholders and IDR holder for the minimum quarterly distribution are also applicable to quarterly distribution amounts that are less than the minimum quarterly distribution. Marginal Percentage Interest in Distributions Total Quarterly Distribution Target Amount Common Unitholders Holder of IDRs Minimum Quarterly Distribution $0.4375 100% —% First Target Distribution $0.4375 to $0.503125 100% —% Second Target Distribution $0.503125 to $0.546875 85% 15% Third Target Distribution $0.546875 to $0.656250 75% 25% Thereafter Above $0.656250 50% 50% |
Unit-Based Compensation Plans_2
Unit-Based Compensation Plans (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Deferred Compensation Arrangements [Abstract] | |
Share-based Compensation Arrangements by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding [Table Text Block] | The following table summarizes the activity of the Subsidiary Unit Awards: Sunoco LP USAC Number of Units Weighted Average Grant-Date Fair Value Per Unit Number of Units Weighted Average Grant-Date Fair Value Per Unit Unvested awards as of December 31, 2018 2.1 $ 29.15 1.4 $ 14.98 Awards granted 0.7 30.70 0.7 15.88 Awards vested (0.5 ) 30.04 (0.3 ) 13.06 Awards forfeited (0.2 ) 28.16 — 16.78 Unvested awards as of December 31, 2019 2.1 29.21 1.8 15.09 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value [Table Text Block] | The following table summarizes the weighted average grant-date fair value per unit award granted: Years Ended December 31, 2019 2018 2017 Sunoco LP $ 30.70 $ 27.67 $ 28.31 USAC 15.88 15.47 N/A |
Income Taxes (Tables)
Income Taxes (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Income Tax Disclosure [Abstract] | |
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block] | As a partnership, we are not subject to United States federal income tax and most state income taxes. However, the Partnership conducts certain activities through corporate subsidiaries which are subject to federal and state income taxes. The components of the federal and state income tax expense (benefit) of our taxable subsidiaries were summarized as follows: Years Ended December 31, 2019 2018 2017 Current expense (benefit): Federal $ (20 ) $ (7 ) $ 53 State (1 ) 20 (16 ) Total (21 ) 13 37 Deferred expense (benefit): Federal 176 183 (2,025 ) State 45 (191 ) 184 Total 221 (8 ) (1,841 ) Total income tax expense (benefit) $ 200 $ 5 $ (1,804 ) |
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block] | Historically, our effective tax rate has differed 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. A reconciliation of income tax expense at the United States statutory rate to the Partnership’s income tax benefit for the years ended December 31, 2019 , 2018 and 2017 is as follows: Years Ended December 31, 2019 2018 2017 Income tax expense at United States statutory rate $ 1,131 $ 849 $ 402 Increase (reduction) in income taxes resulting from: Partnership earnings not subject to tax (940 ) (718 ) (626 ) Federal rate change — — (1,784 ) Goodwill impairments — — 208 State income taxes (net of federal income tax effects) 14 (125 ) 123 Dividend received deduction (3 ) (5 ) (14 ) Change in tax status of subsidiary — — (124 ) Other (2 ) 4 11 Income tax expense (benefit) $ 200 $ 5 $ (1,804 ) |
Schedule of Deferred Tax Assets and Liabilities [Table Text Block] | Deferred taxes result from the temporary differences between financial reporting carrying amounts and the tax basis of existing assets and liabilities. The table below summarizes the principal components of the deferred tax assets (liabilities) as follows: December 31, 2019 2018 Deferred income tax assets: Net operating losses, alternative minimum tax credit and other carryforwards $ 669 $ 768 Pension and other postretirement benefits — 34 Long-term debt — 13 Other 62 181 Total deferred income tax assets 731 996 Valuation allowance (49 ) (96 ) Net deferred income tax assets $ 682 $ 900 Deferred income tax liabilities: Property, plant and equipment $ (258 ) $ (742 ) Investments in affiliates (3,452 ) (2,869 ) Trademarks (72 ) (63 ) Other (13 ) (110 ) Total deferred income tax liabilities (3,795 ) (3,784 ) Net deferred income taxes $ (3,113 ) $ (2,884 ) |
Schedule of Unrecognized Tax Benefits Rollforward [Table Text Block] | The following table sets forth the changes in unrecognized tax benefits: Years Ended December 31, 2019 2018 2017 Balance at beginning of year $ 624 $ 609 $ 615 Additions attributable to tax positions taken in the current year — 8 — Additions attributable to tax positions taken in prior years 11 7 28 Reduction attributable to tax positions taken in prior years (541 ) — (25 ) Lapse of statute — — (9 ) Balance at end of year $ 94 $ 624 $ 609 |
Regulatory Matters, Commitmen_2
Regulatory Matters, Commitments, Contingencies and Environmental Matters (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Environmental Exit Costs by Cost [Table Text Block] | December 31, 2019 2018 Current $ 43 $ 42 Non-current 274 295 Total environmental liabilities $ 317 $ 337 |
Right of way (20 to 83 years) | |
Lessee, Operating Lease, Disclosure [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: Years Ended December 31, 2019 2018 2017 ROW expense $ 45 $ 46 $ 46 |
Revenue (Tables)
Revenue (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Revenue Recognition and Deferred Revenue [Abstract] | |
Contract with Customer, Asset and Liability [Table Text Block] | The following table summarizes the consolidated activity of our contract liabilities: Contract Liabilities Balance, January 1, 2018 $ 221 Additions 765 Revenue recognized (592 ) Balance, December 31, 2018 394 Additions 643 Revenue recognized (679 ) Balance, December 31, 2019 $ 358 The balances of Sunoco LP’s contract assets and contract liabilities as of December 31, 2019 and 2018 were as follows: December 31, 2019 December 31, 2018 Contract balances: Contract asset $ 117 $ 75 Accounts receivable from contracts with customers 366 347 Contract liability — 1 |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Table Text Block] | As of December 31, 2019 , the aggregate amount of transaction price allocated to unsatisfied (or partially satisfied) performance obligations is $40.70 billion and the Partnership expects to recognize this amount as revenue within the time bands illustrated below: Years Ending December 31, 2020 2021 2022 Thereafter Total Revenue expected to be recognized on contracts with customers existing as of December 31, 2019 $ 5,913 $ 5,056 $ 4,672 $ 25,059 $ 40,700 |
Lease Accounting (Tables)
Lease Accounting (Tables) | 12 Months Ended |
Dec. 31, 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 December 31, 2019 were as follows: December 31, 2019 Operating leases: Lease right-of-use assets, net $ 848 Operating lease current liabilities 54 Accrued and other current liabilities 1 Non-current operating lease liabilities 816 Finance leases: Property, plant and equipment, net $ 1 Lease right-of-use assets, net 29 Accrued and other current liabilities 1 Current maturities of long-term debt 6 Long-term debt, less current maturities 26 Other non-current liabilities 2 |
Lease, Cost [Table Text Block] | The components of lease expense for the year ended December 31, 2019 were as follows: Income Statement Location Year Ended December 31, 2019 Operating lease costs: Operating lease cost Cost of goods sold $ 28 Operating lease cost Operating expenses 72 Operating lease cost Selling, general and administrative 16 Total operating lease costs 116 Finance lease costs: Amortization of lease assets Depreciation, depletion and amortization 6 Interest on lease liabilities Interest expense, net of capitalized interest 1 Total finance lease costs 7 Short-term lease cost Operating expenses 42 Variable lease cost Operating expenses 17 Lease costs, gross 182 Less: Sublease income Other revenue 47 Lease costs, net $ 135 |
Lessee, Operating Lease, Liability, Maturity [Table Text Block] | The weighted average remaining lease terms and weighted average discount rates as of December 31, 2019 were as follows: December 31, 2019 Weighted-average remaining lease term (years): Operating leases 22 Finance leases 5 Weighted-average discount rate (%): Operating leases 5 % Finance leases 5 % Maturities of lease liabilities as of December 31, 2019 are as follows: Operating leases Finance leases Total 2020 $ 98 $ 8 $ 106 2021 89 8 97 2022 77 8 85 2023 71 7 78 2024 68 4 72 Thereafter 1,141 5 1,146 Total lease payments 1,544 40 1,584 Less: present value discount 674 5 679 Present value of lease liabilities $ 870 $ 35 $ 905 |
Schedule of additional lease information [Table Text Block] | Cash flows and non-cash activity related to leases for the year ended December 31, 2019 were as follows: Year Ended December 31, 2019 Operating cash flows from operating leases $ (158 ) Lease assets obtained in exchange for new finance lease liabilities 28 Lease assets obtained in exchange for new operating lease liabilities 39 |
Lessor, Operating Lease, Payments to be Received, Maturity [Table Text Block] | Future minimum operating lease payments receivable as of December 31, 2019 are as follows: Lease Payments 2020 $ 125 2021 99 2022 62 2023 7 2024 2 Thereafter 7 Total undiscounted cash flows $ 302 |
Derivative assets and liabilt_2
Derivative assets and liabilties (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
General Discussion of Derivative Instruments and Hedging Activities [Abstract] | |
Outstanding commodity-related derivatives | The following table details our outstanding commodity-related derivatives: December 31, 2019 December 31, 2018 Notional Volume Maturity Notional Volume Maturity Mark-to-Market Derivatives (Trading) Natural Gas (BBtu): Fixed Swaps/Futures 1,483 2020 468 2019 Basis Swaps IFERC/NYMEX (1) (35,208 ) 2020-2024 16,845 2019-2020 Options – Puts — — 10,000 2019 Power (Megawatt): Forwards 3,213,450 2020-2029 3,141,520 2019 Futures (353,527 ) 2020 56,656 2019-2021 Options – Puts 51,615 2020 18,400 2019 Options – Calls (2,704,330 ) 2020-2021 284,800 2019 (Non-Trading) Natural Gas (BBtu): Basis Swaps IFERC/NYMEX (18,923 ) 2020-2022 (30,228 ) 2019-2021 Swing Swaps IFERC (9,265 ) 2020 54,158 2019-2020 Fixed Swaps/Futures (3,085 ) 2020-2021 (1,068 ) 2019-2021 Forward Physical Contracts (13,364 ) 2020-2021 (123,254 ) 2019-2020 NGL (MBbls) – Forwards/Swaps (1,300 ) 2020-2021 (2,135 ) 2019 Crude (MBbls) – Forwards/Swaps 4,465 2020 20,888 2019 Refined Products (MBbls) – Futures (2,473 ) 2020-2021 (1,403 ) 2019 Corn (thousand bushels) (1,210 ) 2020 (1,920 ) 2019 Fair Value Hedging Derivatives (Non-Trading) Natural Gas (BBtu): Basis Swaps IFERC/NYMEX (31,780 ) 2020 (17,445 ) 2019 Fixed Swaps/Futures (31,780 ) 2020 (17,445 ) 2019 Hedged Item – Inventory 31,780 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 swaps outstanding | Term Type (1) Notional Amount Outstanding December 31, 2019 December 31, 2018 March 2019 Pay a floating rate and receive a fixed rate of 1.42% $ — $ 300 July 2019 (2) Forward-starting to pay a fixed rate of 3.56% and receive a floating rate — 400 July 2020 (2)(3) 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 — (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. (3) The July 2020 interest rate swaps were terminated in January 2020. |
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 December 31, 2019 December 31, 2018 December 31, 2019 December 31, 2018 Derivatives designated as hedging instruments: Commodity derivatives (margin deposits) $ 24 $ — $ — $ (13 ) 24 — — (13 ) Derivatives not designated as hedging instruments: Commodity derivatives (margin deposits) 319 402 (350 ) (397 ) Commodity derivatives 41 158 (39 ) (173 ) Interest rate derivatives — — (399 ) (163 ) 360 560 (788 ) (733 ) Total derivatives $ 384 $ 560 $ (788 ) $ (746 ) |
Offsetting Assets Table Text Block [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 December 31, 2019 December 31, 2018 December 31, 2019 December 31, 2018 Derivatives without offsetting agreements Derivative liabilities $ — $ — $ (399 ) $ (163 ) Derivatives in offsetting agreements: OTC contracts Derivative assets (liabilities) 41 158 (39 ) (173 ) Broker cleared derivative contracts Other current assets (liabilities) 343 402 (350 ) (410 ) 384 560 (788 ) (746 ) Offsetting agreements: Counterparty netting Derivative assets (liabilities) (18 ) (47 ) 18 47 Counterparty netting Other current assets (liabilities) (318 ) (397 ) 318 397 Total net derivatives $ 48 $ 116 $ (452 ) $ (302 ) |
Schedule of Cash Flow Hedging Instruments, Statements of Financial Performance and Financial Position, Location [Table Text Block] | Location of Gain (Loss) Recognized in Income on Derivatives Amount of Gain (Loss) Recognized in Income Representing Hedge Ineffectiveness and Amount Excluded from the Assessment of Effectiveness Years Ended December 31, 2019 2018 2017 Derivatives in fair value hedging relationships (including hedged item): Commodity derivatives Cost of products sold $ — $ (3 ) $ 26 |
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 Years Ended December 31, 2019 2018 2017 Derivatives not designated as hedging instruments: Commodity derivatives – Trading Cost of products sold $ 21 $ 32 $ 31 Commodity derivatives – Non-trading Cost of products sold (78 ) (102 ) 5 Interest rate derivatives Gains (losses) on interest rate derivatives (241 ) 47 (37 ) Embedded derivatives Other, net — — 1 Total $ (298 ) $ (23 ) $ — |
Retirement Benefits Retirement
Retirement Benefits Retirement Benefits (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Retirement Benefits [Abstract] | |
Schedule of Defined Benefit Plans Disclosures [Table Text Block] | The following table contains information at the dates indicated about the obligations and funded status of pension and other postretirement plans on a combined basis: December 31, 2019 December 31, 2018 Pension Benefits Pension Benefits Funded Plans Unfunded Plans Other Postretirement Benefits Funded Plans Unfunded Plans Other Postretirement Benefits Change in benefit obligation: Benefit obligation at beginning of period $ 1 $ 37 $ 198 $ 1 $ 47 $ 156 Service cost — — 1 — — 1 Interest cost — 1 7 — 1 5 Amendments — — — — — 60 Benefits paid, net — (7 ) (16 ) — (7 ) (17 ) Actuarial (gain) loss and other — — 18 — (4 ) (7 ) Benefit obligation at end of period 1 31 208 1 37 198 Change in plan assets: Fair value of plan assets at beginning of period 1 — 241 1 — 257 Return on plan assets and other — — 35 — — (8 ) Employer contributions — — 10 — — 9 Benefits paid, net — — (16 ) — — (17 ) Fair value of plan assets at end of period 1 — 270 1 — 241 Amount underfunded (overfunded) at end of period $ — $ 31 $ (62 ) $ — $ 37 $ (43 ) Amounts recognized in the consolidated balance sheets consist of: Non-current assets $ — $ — $ 88 $ — $ — $ 68 Current liabilities — (5 ) (2 ) — (6 ) (2 ) Non-current liabilities — (26 ) (24 ) — (31 ) (23 ) $ — $ (31 ) $ 62 $ — $ (37 ) $ 43 Amounts recognized in accumulated other comprehensive income (loss) (pre-tax basis) consist of: Net actuarial gain (loss) $ — $ 1 $ (5 ) $ — $ 1 $ (7 ) Prior service cost — — 40 — — 66 $ — $ 1 $ 35 $ — $ 1 $ 59 |
Schedule of Accumulated and Projected Benefit Obligations [Table Text Block] | The following table summarizes information at the dates indicated for plans with an accumulated benefit obligation in excess of plan assets: December 31, 2019 December 31, 2018 Pension Benefits Pension Benefits Funded Plans Unfunded Plans Other Postretirement Benefits Funded Plans Unfunded Plans Other Postretirement Benefits Projected benefit obligation $ — $ 31 N/A $ — $ 37 N/A Accumulated benefit obligation 1 31 208 1 37 198 Fair value of plan assets 1 — 270 1 — 241 |
Schedule of Net Benefit Costs [Table Text Block] | December 31, 2019 December 31, 2018 Pension Benefits Other Postretirement Benefits Pension Benefits Other Postretirement Benefits Net periodic benefit cost: Service cost $ — $ 1 $ — $ 1 Interest cost 1 7 1 5 Expected return on plan assets — (10 ) — (10 ) Prior service cost amortization — 26 — 16 Net periodic benefit cost $ 1 $ 24 $ 1 $ 12 |
Schedule of Benefit Obligations Assumptions [Table Text Block] | The weighted-average assumptions used in determining benefit obligations at the dates indicated are shown in the table below: December 31, 2019 December 31, 2018 Pension Benefits Other Postretirement Benefits Pension Benefits Other Postretirement Benefits Discount rate 4.07 % 2.71 % 4.02 % 3.40 % Rate of compensation increase — — N/A N/A The weighted-average assumptions used in determining net periodic benefit cost for the periods presented are shown in the table below: December 31, 2019 December 31, 2018 Pension Benefits Other Postretirement Benefits Pension Benefits Other Postretirement Benefits Discount rate 3.29 % 3.76 % 3.52 % 3.51 % Expected return on assets: Tax exempt accounts 3.26 % 7.00 % 3.26 % 6.63 % Taxable accounts — 4.75 % N/A 4.50 % Rate of compensation increase — — N/A N/A |
Schedule of Effect of One-Percentage-Point Change in Assumed Health Care Cost Trend Rates [Table Text Block] | December 31, 2019 2018 Health care cost trend rate 7.25 % 7.15 % Rate to which the cost trend is assumed to decline (the ultimate trend rate) 4.83 % 4.82 % Year that the rate reaches the ultimate trend rate 2026 2024 |
Fair Value of Plan Assets [Table Text Block] | The fair value of the pension plan assets by asset category at the dates indicated is as follows: Fair Value Measurements at December 31, 2019 Fair Value Total Level 1 Level 2 Level 3 Mutual funds (1) $ 1 $ 1 $ — $ — (1) Comprised of approximately 100% equities as of December 31, 2019 . Fair Value Measurements at December 31, 2018 Fair Value Total Level 1 Level 2 Level 3 Mutual funds (1) $ 1 $ 1 $ — $ — (1) Comprised of approximately 100% equities as of December 31, 2018 . The fair value of other postretirement plan assets by asset category at the dates indicated is as follows: Fair Value Measurements at December 31, 2019 Fair Value Total Level 1 Level 2 Level 3 Asset category: Cash and cash equivalents $ 14 $ 14 $ — $ — Mutual funds (1) 177 177 — — Fixed income securities 79 — 79 — Total $ 270 $ 191 $ 79 $ — (1) Primarily comprised of approximately 59% equities, 40% fixed income securities and 1% cash as of December 31, 2019 . Fair Value Measurements at December 31, 2018 Fair Value Total Level 1 Level 2 Level 3 Asset category: Cash and cash equivalents $ 20 $ 20 $ — $ — Mutual funds (1) 144 144 — — Fixed income securities 77 — 77 — Total $ 241 $ 164 $ 77 $ — (1) Primarily comprised of approximately 53% equities, 46% fixed income securities and 1% cash as of December 31, 2018 . The Level 1 plan assets are valued based on active market quotes. The Level 2 plan assets are valued based on the net asset value per share (or its equivalent) of the investments, which was not determinable through publicly published sources but was calculated consistent with authoritative accounting guidelines. |
Schedule of Expected Benefit Payments [Table Text Block] | Panhandle and ETC Sunoco’s estimate of expected benefit payments, which reflect expected future service, as appropriate, in each of the next five years and in the aggregate for the five years thereafter are shown in the table below: Years Pension Benefits - Unfunded Plans (1) Other Postretirement Benefits (Gross, Before Medicare Part D) 2020 $ 5 $ 20 2021 5 20 2022 4 19 2023 4 18 2024 3 15 2025 - 2029 10 67 |
Related Party Transactions (Tab
Related Party Transactions (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Related Party Transactions [Abstract] | |
Schedule Of Related Party Transactions By Related Party [Table Text Block] | The following table summarizes the revenues from related companies on our consolidated statements of operations: Years Ended December 31, 2019 2018 2017 Revenues from related companies $ 492 $ 431 $ 303 The following table summarizes the related company accounts receivable and accounts payable balances on our consolidated balance sheets: December 31, 2019 2018 Accounts receivable from related companies: ET $ 8 $ 65 FGT 50 25 Phillips 66 36 42 Traverse Rover LLC 42 — Other 39 44 Total accounts receivable from related companies $ 175 $ 176 Accounts payable to related companies: ET $ — $ 59 Other 27 60 Total accounts payable to related companies $ 27 $ 119 |
Reportable Segments (Tables)
Reportable Segments (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Reportable Segments [Abstract] | |
Reportable segments | The following tables present financial information by segment: Years Ended December 31, 2019 2018 2017 Revenues: Intrastate transportation and storage: Revenues from external customers $ 2,749 $ 3,428 $ 2,891 Intersegment revenues 350 309 192 3,099 3,737 3,083 Interstate transportation and storage: Revenues from external customers 1,941 1,664 1,112 Intersegment revenues 22 18 19 1,963 1,682 1,131 Midstream: Revenues from external customers 2,268 2,090 2,510 Intersegment revenues 3,751 5,432 4,433 6,019 7,522 6,943 NGL and refined products transportation and services: Revenues from external customers 9,920 10,119 7,885 Intersegment revenues 1,721 1,004 763 11,641 11,123 8,648 Crude oil transportation and services: Revenues from external customers 18,307 17,236 11,672 Intersegment revenues — 96 31 18,307 17,332 11,703 Investment in Sunoco LP: Revenues from external customers 16,590 16,982 11,713 Intersegment revenues 6 12 10 16,596 16,994 11,723 Investment in USAC: Revenues from external customers 678 495 — Intersegment revenues 20 13 — 698 508 — All other: Revenues from external customers 1,579 2,073 2,740 Intersegment revenues 81 155 161 1,660 2,228 2,901 Eliminations (5,951 ) (7,039 ) (5,609 ) Total revenues $ 54,032 $ 54,087 $ 40,523 Years Ended December 31, 2019 2018 2017 Cost of products sold: Intrastate transportation and storage $ 1,909 $ 2,665 $ 2,327 Midstream 3,570 5,145 4,761 NGL and refined products transportation and services 8,393 8,462 6,508 Crude oil transportation and services 14,649 14,439 9,826 Investment in Sunoco LP 15,380 15,872 10,615 Investment in USAC 91 67 — All other 1,496 2,006 2,509 Eliminations (5,885 ) (6,998 ) (5,580 ) Total cost of products sold $ 39,603 $ 41,658 $ 30,966 Years Ended December 31, 2019 2018 2017 Depreciation, depletion and amortization: Intrastate transportation and storage $ 184 $ 169 $ 147 Interstate transportation and storage 387 334 254 Midstream 1,065 1,006 954 NGL and refined products transportation and services 613 466 401 Crude oil transportation and services 430 445 402 Investment in Sunoco LP 181 167 169 Investment in USAC 231 169 — All other 33 87 214 Total depreciation, depletion and amortization $ 3,124 $ 2,843 $ 2,541 Years Ended December 31, 2019 2018 2017 Equity in earnings (losses) of unconsolidated affiliates: Intrastate transportation and storage $ 18 $ 19 $ (156 ) Interstate transportation and storage 222 227 236 Midstream 20 26 20 NGL and refined products transportation and services 51 64 33 Crude oil transportation and services (3 ) 6 4 All other (10 ) 2 7 Total equity in earnings of unconsolidated affiliates $ 298 $ 344 $ 144 Years Ended December 31, 2019 2018 2017 Segment Adjusted EBITDA: Intrastate transportation and storage $ 999 $ 927 $ 626 Interstate transportation and storage 1,792 1,680 1,274 Midstream 1,599 1,627 1,481 NGL and refined products transportation and services 2,663 1,979 1,641 Crude oil transportation and services 2,949 2,330 1,379 Investment in Sunoco LP 665 638 732 Investment in USAC 420 289 — All other 104 76 219 Total Segment Adjusted EBITDA 11,191 9,546 7,352 Depreciation, depletion and amortization (3,124 ) (2,843 ) (2,541 ) Interest expense, net of interest capitalized (2,257 ) (1,709 ) (1,575 ) Impairment losses (74 ) (431 ) (1,039 ) Gains (losses) on interest rate derivatives (241 ) 47 (37 ) Non-cash compensation expense (111 ) (105 ) (99 ) Unrealized gains (losses) on commodity risk management activities (4 ) (11 ) 59 Inventory valuation adjustments 79 (85 ) 24 Losses on extinguishments of debt (2 ) (109 ) (42 ) Adjusted EBITDA related to unconsolidated affiliates (621 ) (655 ) (716 ) Equity in earnings of unconsolidated affiliates 298 344 144 Impairment of investments in unconsolidated affiliates — — (313 ) Adjusted EBITDA related to discontinued operations — 25 (223 ) Other, net 252 30 154 Income from continuing operations before income tax expense 5,386 4,044 1,148 Income tax expense from continuing operations (200 ) (5 ) 1,804 Income from continuing operations 5,186 4,039 2,952 Loss from discontinued operations, net of income taxes — (265 ) (177 ) Net income $ 5,186 $ 3,774 $ 2,775 December 31, 2019 2018 2017 Segment assets: Intrastate transportation and storage $ 6,648 $ 6,365 $ 5,020 Interstate transportation and storage 18,111 15,081 15,316 Midstream 20,070 19,745 20,004 NGL and refined products transportation and services 19,145 18,267 17,600 Crude oil transportation and services 18,915 18,022 17,730 Investment in Sunoco LP 5,438 4,879 8,344 Investment in USAC 3,730 3,775 — All other and eliminations 6,468 2,308 2,470 Total segment assets $ 98,525 $ 88,442 $ 86,484 Years Ended December 31, 2019 2018 2017 Additions to property, plant and equipment (1) : Intrastate transportation and storage $ 124 $ 344 $ 175 Interstate transportation and storage 375 812 728 Midstream 826 1,161 1,308 NGL and refined products transportation and services 2,976 2,381 2,971 Crude oil transportation and services 392 474 453 Investment in Sunoco LP 148 103 103 Investment in USAC 200 205 — All other 213 150 268 Total additions to property, plant and equipment (1) $ 5,254 $ 5,630 $ 6,006 (1) Excluding acquisitions, net of contributions in aid of construction costs (capital expenditures related to the Partnership’s proportionate ownership on an accrual basis). December 31, 2019 2018 2017 Advances to and investments in unconsolidated affiliates: Intrastate transportation and storage $ 88 $ 83 $ 85 Interstate transportation and storage 2,524 2,070 2,118 Midstream 112 124 126 NGL and refined products transportation and services 243 243 234 Crude oil transportation and services 24 28 22 All other 27 88 113 Total advances to and investments in unconsolidated affiliates $ 3,018 $ 2,636 $ 2,698 |
Quarterly Financial Data (Tabl
Quarterly Financial Data (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Quarterly Financial Data [Abstract] | |
Schedule of Quarterly Financial Information [Table Text Block] | Quarters Ended March 31 June 30 September 30 December 31 Total Year 2019: Revenues $ 13,121 $ 13,877 $ 13,495 $ 13,539 $ 54,032 Operating income 1,928 1,827 1,834 1,696 7,285 Net income 1,281 1,281 1,224 1,400 5,186 Net income attributable to partners 1,012 1,002 951 1,119 4,084 Quarters Ended March 31 June 30 September 30 December 31 Total Year 2018: Revenues $ 11,882 $ 14,118 $ 14,514 $ 13,573 $ 54,087 Operating income 1,105 1,138 1,715 1,444 5,402 Income from continuing operations 814 760 1,494 971 4,039 Net income 577 734 1,492 971 3,774 Net income attributable to partners 715 432 1,135 743 3,025 |
Guarantor Financial Informati_2
Guarantor Financial Information (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Guarantor Financial Information [Abstract] | |
Condensed Balance Sheet [Table Text Block] | The consolidating financial information for the Parent Guarantor, Subsidiary Issuer and Non-Guarantor Subsidiaries are as follows: December 31, 2019 Parent Guarantor Subsidiary Issuer Non-Guarantor Subsidiaries Eliminations Consolidated Partnership Cash and cash equivalents $ — $ — $ 253 $ — $ 253 All other current assets 4,905 44,047 45,997 (88,042 ) 6,907 Property, plant and equipment — — 69,971 — 69,971 Investments in unconsolidated affiliates 57,383 15,045 3,033 (72,443 ) 3,018 All other assets 5,786 131 12,459 — 18,376 Total assets $ 68,074 $ 59,223 $ 131,713 $ (160,485 ) $ 98,525 Current liabilities $ 3,394 $ 41,148 $ 48,350 $ (85,811 ) $ 7,081 Non-current liabilities 34,782 7,602 13,753 — 56,137 Noncontrolling interests — — 8,018 — 8,018 Total partners’ capital 29,898 10,473 61,592 (74,674 ) 27,289 Total liabilities and equity $ 68,074 $ 59,223 $ 131,713 $ (160,485 ) $ 98,525 December 31, 2018 Parent Guarantor Subsidiary Issuer Non-Guarantor Subsidiaries Eliminations Consolidated Partnership Cash and cash equivalents $ — $ — $ 418 $ — $ 418 All other current assets 4,070 36,889 73,336 (107,893 ) 6,402 Property, plant and equipment — — 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 Current liabilities $ 3,430 $ 33,517 $ 80,731 $ (108,381 ) $ 9,297 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 |
Condensed Income Statement [Table Text Block] | Year Ended December 31, 2019 Parent Guarantor Subsidiary Issuer Non-Guarantor Subsidiaries Eliminations Consolidated Partnership Revenues $ — $ — $ 54,032 $ — $ 54,032 Operating costs, expenses, and other — — 46,747 — 46,747 Operating income — — 7,285 — 7,285 Interest expense, net (1,612 ) (374 ) (271 ) — (2,257 ) Equity in earnings of unconsolidated affiliates 5,623 1,938 298 (7,561 ) 298 Losses on debt extinguishment — — (2 ) (2 ) Losses on interest rate derivatives (241 ) — — — (241 ) Other, net 314 3 (14 ) — 303 Income before income tax expense 4,084 1,567 7,296 (7,561 ) 5,386 Income tax expense — — 200 — 200 Net income 4,084 1,567 7,096 (7,561 ) 5,186 Less: Net income attributable to noncontrolling interests — — 1,051 — 1,051 Less: Net income attributable to redeemable noncontrolling interests 51 51 Net income attributable to partners $ 4,084 $ 1,567 $ 5,994 $ (7,561 ) $ 4,084 Other comprehensive income $ — $ — $ 24 $ — $ 24 Comprehensive income 4,084 1,567 7,120 (7,561 ) 5,210 Comprehensive income attributable to noncontrolling interests — — 1,051 — 1,051 Comprehensive income attributable to redeemable noncontrolling interests 51 51 Comprehensive income attributable to partners $ 4,084 $ 1,567 $ 6,018 $ (7,561 ) $ 4,108 Year Ended December 31, 2018 Parent Guarantor Subsidiary Issuer Non-Guarantor Subsidiaries Eliminations Consolidated Partnership Revenues $ — $ — $ 54,087 $ — $ 54,087 Operating costs, expenses, and other — — 48,685 — 48,685 Operating income — — 5,402 — 5,402 Interest expense, net (1,196 ) (176 ) (337 ) — (1,709 ) Equity in earnings of unconsolidated affiliates 4,170 1,430 344 (5,600 ) 344 Losses on extinguishments of debt — — (109 ) — (109 ) Gains on interest rate derivatives 47 — — — 47 Other, net — — 69 — 69 Income from continuing operations before income tax expense 3,021 1,254 5,369 (5,600 ) 4,044 Income tax expense from continuing operations — — 5 — 5 Net income from continuing operations 3,021 1,254 5,364 (5,600 ) 4,039 Loss from discontinued operations, net of income taxes — — (265 ) — (265 ) Net income 3,021 1,254 5,099 (5,600 ) 3,774 Less: Net income attributable to noncontrolling interests — — 715 — 715 Less: Net income attributable to redeemable noncontrolling interests — — 39 — 39 Less: Net loss attributable to predecessor — — (5 ) — (5 ) Net income attributable to partners $ 3,021 $ 1,254 $ 4,350 $ (5,600 ) $ 3,025 Other comprehensive loss $ — $ — $ (43 ) $ — $ (43 ) Comprehensive income 3,021 1,254 5,056 (5,600 ) 3,731 Less: Comprehensive income attributable to noncontrolling interests — — 715 — 715 Less: Comprehensive income attributable to redeemable noncontrolling interests — — 39 — 39 Less: Comprehensive loss attributable to predecessor — — (5 ) — (5 ) Comprehensive income attributable to partners $ 3,021 $ 1,254 $ 4,307 $ (5,600 ) $ 2,982 Year Ended December 31, 2017 Parent Guarantor Subsidiary Issuer Non-Guarantor Subsidiaries Eliminations Consolidated Partnership Revenues $ — $ — $ 40,523 $ — $ 40,523 Operating costs, expenses, and other — 1 37,757 — 37,758 Operating income (loss) — (1 ) 2,766 — 2,765 Interest expense, net — (156 ) (1,419 ) — (1,575 ) Equity in earnings of unconsolidated affiliates 2,564 1,242 144 (3,806 ) 144 Impairment of investments in unconsolidated affiliates — — (313 ) — (313 ) Losses on extinguishments of debt — — (42 ) — (42 ) Losses on interest rate derivatives — — (37 ) — (37 ) Other, net — — 207 (1 ) 206 Income from continuing operations before income tax benefit 2,564 1,085 1,306 (3,807 ) 1,148 Income tax benefit from continuing operations — — (1,804 ) — (1,804 ) Net income from continuing operations 2,564 1,085 3,110 (3,807 ) 2,952 Loss from discontinued operations, net of income taxes — — (177 ) — (177 ) Net income 2,564 1,085 2,933 (3,807 ) 2,775 Less: Net income attributable to noncontrolling interests — — 420 — 420 Less: Net income attributable to predecessor — — 274 — 274 Net income attributable to partners $ 2,564 $ 1,085 $ 2,239 $ (3,807 ) $ 2,081 Other comprehensive loss $ — $ — $ (5 ) $ — $ (5 ) Comprehensive income 2,564 1,085 2,928 (3,807 ) 2,770 Less: Comprehensive income attributable to noncontrolling interests — — 420 — 420 Less: Comprehensive income attributable to predecessor — — 274 — 274 Comprehensive income attributable to partners $ 2,564 $ 1,085 $ 2,234 $ (3,807 ) $ 2,076 |
Condensed Cash Flow Statement [Table Text Block] | Year Ended December 31, 2019 Parent Guarantor Subsidiary Issuer Non-Guarantor Subsidiaries Eliminations Consolidated Partnership Cash flows provided by operating activities $ 3,372 $ 2,732 $ 8,988 $ (6,841 ) $ 8,251 Cash flows used in investing activities (2,044 ) (2,732 ) (8,188 ) 6,841 (6,123 ) Cash flows used in financing activities (1,328 ) — (965 ) — (2,293 ) Change in cash — — (165 ) — (165 ) Cash at beginning of period — — 418 — 418 Cash at end of period $ — $ — $ 253 $ — $ 253 Year Ended December 31, 2018 Parent Guarantor Subsidiary Issuer Non-Guarantor Subsidiaries Eliminations Consolidated Partnership Cash flows provided by operating activities $ 4,041 $ 1,521 $ 5,641 $ (3,644 ) $ 7,559 Cash flows used in investing activities (3,408 ) (1,519 ) (5,619 ) 3,644 (6,902 ) Cash flows provided by (used in) financing activities (633 ) — (2,675 ) — (3,308 ) Net increase in cash and cash equivalents of discontinued operations — — 2,734 — 2,734 Change in cash — 2 81 — 83 Cash at beginning of period — (2 ) 337 — 335 Cash at end of period $ — $ — $ 418 $ — $ 418 Year Ended December 31, 2017 Parent Guarantor Subsidiary Issuer Non-Guarantor Subsidiaries Eliminations Consolidated Partnership Cash flows provided by operating activities $ 2,564 $ 1,047 $ 5,013 $ (3,807 ) $ 4,817 Cash flows used in investing activities (2,240 ) (1,368 ) (5,811 ) 3,807 (5,612 ) Cash flows provided by financing activities (324 ) 277 619 — 572 Net decrease in cash and cash equivalents of discontinued operations — — 93 — 93 Change in cash — (44 ) (86 ) — (130 ) Cash at beginning of period — 42 423 — 465 Cash at end of period $ — $ (2 ) $ 337 $ — $ 335 |
Operations and Organization (Na
Operations and Organization (Narrative) (Details) | 1 Months Ended | 12 Months Ended | |||
Oct. 31, 2018shares | Apr. 30, 2017 | Dec. 31, 2019shares | Jul. 30, 2019shares | Dec. 31, 2018shares | |
Sunoco LP [Member] | |||||
Incentive Distribution Rights | 100.00% | ||||
Number of common units of a subsidiary partnership that are held by a wholly-owned subsidiary of the Parent. | 28,500,000 | ||||
USAC [Member] | |||||
Number of common units of a subsidiary partnership that are held by a wholly-owned subsidiary of the Parent. | 46,100,000 | 39,700,000 | |||
Limited Liability Company (LLC) or Limited Partnership (LP), Managing Member or General Partner, Ownership Interest | 100.00% | ||||
ETE Merger [Member] | |||||
Conversion Rate of Units in Merger, Per Unit | 1.28 | ||||
ETE Merger [Member] | Sunoco LP [Member] | |||||
Sale of Stock, Number of Shares Issued in Transaction | 2,263,158 | ||||
ETE Merger [Member] | USAC [Member] | |||||
Sale of Stock, Number of Shares Issued in Transaction | 12,466,912 | ||||
SXL and ETP Merger [Member] | |||||
Conversion Rate of Units in Merger, Per Unit | 1.5 | ||||
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 |
Estimates, Significant Accoun_4
Estimates, Significant Accounting Policies and Balance Sheet Detials (Narrative) (Details) - USD ($) $ in Millions | 3 Months Ended | 12 Months Ended | |||||
Sep. 30, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | Jan. 01, 2019 | |
Impairment losses | $ 74 | $ 431 | $ 1,039 | ||||
Operating Lease, Right-of-Use Asset | $ 0 | 1,000 | 0 | $ 889 | |||
Operating Lease, Liability | 870 | ||||||
Asset Retirement Obligation | 193 | 223 | 193 | ||||
Tangible Asset Impairment Charges | 9 | 127 | |||||
Impairment losses | $ 12 | 9 | 21 | 378 | |||
Long-term Debt, Fair Value | 39,540 | 54,080 | 39,540 | ||||
Goodwill acquired | 42 | 495 | |||||
Goodwill | 4,885 | $ 4,729 | 4,902 | 4,885 | 4,729 | ||
Long-term Debt | 40,508 | 50,346 | 40,508 | ||||
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Transfers, Net | 0 | ||||||
Costs Incurred, Asset Retirement Obligation Incurred | 5 | 13 | 9 | ||||
Asset Retirement Obligation, Legally Restricted Assets, Fair Value | 26 | 31 | 26 | ||||
Customer relationships, contracts and agreements (3 to 46 years) | |||||||
Impairment of Intangible Assets (Excluding Goodwill) | 30 | $ 17 | |||||
Minimum [Member] | Customer relationships, contracts and agreements (3 to 46 years) | |||||||
Useful Lives | 3 years | ||||||
Minimum [Member] | Other (5 to 20 years) | |||||||
Useful Lives | 5 years | ||||||
Maximum [Member] | Customer relationships, contracts and agreements (3 to 46 years) | |||||||
Useful Lives | 46 years | ||||||
Maximum [Member] | Patents [Member] | |||||||
Useful Lives | 10 years | ||||||
Maximum [Member] | Other (5 to 20 years) | |||||||
Useful Lives | 20 years | ||||||
Interstate Transportation and Storage [Member] | |||||||
Impairment losses | 262 | $ 12 | 0 | ||||
Goodwill acquired | 42 | 0 | |||||
Goodwill | 196 | 196 | 226 | 196 | 196 | ||
Midstream [Member] | |||||||
Impairment losses | (378) | 9 | 378 | ||||
Goodwill acquired | 0 | 0 | |||||
Goodwill | 492 | 870 | 483 | 492 | 870 | ||
Retail Marketing [Member] | |||||||
Excise Taxes Collected | 386 | 370 | 234 | ||||
NGL and refined products transportation and services [Member] | |||||||
Impairment losses | 79 | 0 | 0 | ||||
Goodwill acquired | 0 | 0 | |||||
Goodwill | 693 | 693 | 693 | 693 | 693 | ||
Other Segments [Member] | |||||||
Impairment losses | 452 | 0 | 0 | ||||
Goodwill acquired | 0 | 0 | |||||
Goodwill | 149 | 363 | 149 | 149 | 363 | ||
Investment In Sunoco LP [Member] | |||||||
Impairment losses | 387 | 0 | 0 | ||||
Goodwill acquired | 0 | 129 | |||||
Goodwill | 1,559 | 1,430 | 1,555 | 1,559 | $ 1,430 | ||
Sunoco LP [Member] | |||||||
Impairment losses | 47 | ||||||
Inventory Write-down | 85 | ||||||
Long-term Debt | $ 2,984 | 3,071 | $ 2,984 | ||||
USAC [Member] | |||||||
Impairment losses | 6 | ||||||
Fair value exceeding carrying value by less than 20% [Member] | |||||||
Goodwill | $ 380 | ||||||
Continuing Operations [Member] | Investment In Sunoco LP [Member] | |||||||
Impairment losses | $ 102 |
Estimates, Significant Accoun_5
Estimates, Significant Accounting Policies and Balance Sheet Detials (Change in Accounting Policy) (Details) - USD ($) $ in Millions | 3 Months Ended | 12 Months Ended | ||||||||||
Dec. 31, 2019 | Sep. 30, 2019 | Jun. 30, 2019 | Mar. 31, 2019 | Dec. 31, 2018 | Sep. 30, 2018 | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | Jan. 01, 2019 | |
Assets [Abstract] | ||||||||||||
Other current assets | $ 282 | $ 356 | $ 282 | $ 356 | ||||||||
Property, Plant and Equipment, Net | 69,971 | 66,655 | 69,971 | 66,655 | $ 66,654 | |||||||
Intangible assets, net | 5,695 | 6,000 | 5,695 | 6,000 | ||||||||
Other non-current assets, net | 976 | 1,006 | 976 | 1,006 | ||||||||
Liabilities and Equity [Abstract] | ||||||||||||
Other non-current liabilities | 1,109 | 1,184 | 1,109 | 1,184 | 1,172 | |||||||
Noncontrolling interests | 8,018 | 7,903 | 8,018 | 7,903 | ||||||||
Costs and Expenses [Abstract] | ||||||||||||
Cost of products sold | 39,603 | 41,658 | $ 30,966 | |||||||||
Operating expenses | 3,267 | 3,089 | 2,644 | |||||||||
Depreciation, depletion and amortization | 3,124 | 2,843 | 2,541 | |||||||||
New Accounting Pronouncement or Change in Accounting Principle, Retrospective Adjustments [Abstract] | ||||||||||||
Operating Income (Loss) | 1,696 | $ 1,834 | $ 1,827 | $ 1,928 | 1,444 | $ 1,715 | $ 1,138 | $ 1,105 | 7,285 | 5,402 | 2,765 | |
INCOME FROM CONTINUING OPERATIONS BEFORE INCOME TAX BENEFIT | 5,386 | 4,044 | 1,148 | |||||||||
Net income | 1,400 | $ 1,224 | $ 1,281 | $ 1,281 | 971 | $ 1,492 | $ 734 | $ 577 | 5,186 | 3,774 | 2,775 | |
Net Income (Loss) Attributable to Parent | 4,084 | 3,025 | 2,081 | |||||||||
Comprehensive Income (Loss), Net of Tax, Including Portion Attributable to Noncontrolling Interest | 5,210 | 3,731 | 2,770 | |||||||||
Comprehensive Income (Loss), Net of Tax, Attributable to Parent | 4,108 | 2,982 | 2,076 | |||||||||
Inventory valuation adjustments | (79) | 85 | (24) | |||||||||
Increase (Decrease) in Operating Capital | 479 | (117) | 173 | |||||||||
Inventories | 1,847 | 1,677 | 1,847 | 1,677 | ||||||||
Property, Plant and Equipment, Net | 69,971 | 66,655 | 69,971 | 66,655 | 66,654 | |||||||
Operating Lease, Right-of-Use Asset | 1,000 | 0 | 1,000 | 0 | 889 | |||||||
Operating lease current liabilities | 54 | 0 | 54 | 0 | 71 | |||||||
Accrued and other current liabilities | 3,216 | 2,847 | 3,216 | 2,847 | 2,846 | |||||||
Current maturities of long-term debt | 12 | 2,655 | 12 | 2,655 | 2,656 | |||||||
Long-term debt, less current maturities | 50,334 | 37,853 | 50,334 | 37,853 | 37,859 | |||||||
Non-current operating lease liabilities | $ 816 | $ 0 | 816 | 0 | 823 | |||||||
Natural gas sales | ||||||||||||
Revenues [Abstract] | ||||||||||||
Revenue from Contract with Customer, Including Assessed Tax | 3,295 | 4,452 | 4,172 | |||||||||
NGL sales | ||||||||||||
Revenues [Abstract] | ||||||||||||
Revenue from Contract with Customer, Including Assessed Tax | 8,290 | 9,986 | 7,781 | |||||||||
Crude sales | ||||||||||||
Revenues [Abstract] | ||||||||||||
Revenue from Contract with Customer, Including Assessed Tax | 15,917 | 14,425 | 10,706 | |||||||||
Gathering, transportation and other fees | ||||||||||||
Revenues [Abstract] | ||||||||||||
Revenue from Contract with Customer, Including Assessed Tax | 9,042 | 6,797 | 4,435 | |||||||||
Refined product sales | ||||||||||||
Revenues [Abstract] | ||||||||||||
Revenue from Contract with Customer, Including Assessed Tax | 16,634 | 17,458 | 11,166 | |||||||||
Other | ||||||||||||
Revenues [Abstract] | ||||||||||||
Revenue from Contract with Customer, Including Assessed Tax | $ 854 | $ 969 | $ 2,263 | |||||||||
Accounting Standards Update 2016-02 [Member] | ||||||||||||
Assets [Abstract] | ||||||||||||
Property, Plant and Equipment, Net | (1) | |||||||||||
Liabilities and Equity [Abstract] | ||||||||||||
Other non-current liabilities | (12) | |||||||||||
New Accounting Pronouncement or Change in Accounting Principle, Retrospective Adjustments [Abstract] | ||||||||||||
Property, Plant and Equipment, Net | (1) | |||||||||||
Operating Lease, Right-of-Use Asset | 889 | |||||||||||
Operating lease current liabilities | 71 | |||||||||||
Accrued and other current liabilities | (1) | |||||||||||
Current maturities of long-term debt | 1 | |||||||||||
Long-term debt, less current maturities | 6 | |||||||||||
Non-current operating lease liabilities | $ 823 |
Estimates, Significant Accoun_6
Estimates, Significant Accounting Policies and Balance Sheet Detials (Net change in operating assets and liabilities (net of acquisitions) included in cash flows) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
ESTIMATES, SIGNIFICANT ACCOUNTING POLICIES AND BALANCE SHEET DETAIL | |||
Accounts receivable | $ (423) | $ 506 | $ (951) |
Accounts receivable from related companies | (25) | 128 | (462) |
Inventories | (98) | 282 | 58 |
Other current assets | 100 | 7 | 40 |
Other non-current assets, net | (126) | (109) | (88) |
Accounts payable | 101 | (769) | 713 |
Accounts payable to related companies | (94) | (206) | 486 |
Accrued and other current liabilities | 50 | 365 | (56) |
Other non-current liabilities | (183) | (34) | 78 |
Price risk management assets and liabilities, net | 219 | (53) | 9 |
Net change in operating assets and liabilities, net of effects of acquisitions | $ (479) | $ 117 | $ (173) |
Estimates, Significant Accoun_7
Estimates, Significant Accounting Policies and Balance Sheet Detials (Non-cash investing and financing activities and supplemental cash flow information) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
NON-CASH INVESTING AND FINANCING ACTIVITIES: | |||
Accrued capital expenditures | $ 1,265 | $ 1,030 | $ 1,060 |
Right-of-Use Assets Obtained in Exchange for Liabilities | 67 | 0 | 0 |
Net gains (losses) from subsidiary common unit transactions | 0 | (127) | 5 |
NON-CASH FINANCING ACTIVITIES: | |||
Contribution of assets from noncontrolling interests | 0 | 0 | 988 |
SUPPLEMENTAL CASH FLOW INFORMATION: | |||
Cash paid for interest, net of interest capitalized | 1,798 | 1,537 | 1,516 |
Cash paid for income taxes | $ 30 | $ 508 | $ 50 |
Estimates, Significant Accoun_8
Estimates, Significant Accounting Policies and Balance Sheet Detials (Inventory) (Details) - USD ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 | |
ESTIMATES, SIGNIFICANT ACCOUNTING POLICIES AND BALANCE SHEET DETAIL | |||
Natural gas, NGLs and refined products (1) | [1] | $ 833 | $ 833 |
Crude oil | 566 | 506 | |
Spare parts and other | 448 | 338 | |
Total inventories | $ 1,847 | $ 1,677 | |
[1] | Due to changes in fuel prices, Sunoco LP recorded a write-down on the value of its fuel inventory of $85 million as of December 31, 2018 . |
Estimates, Significant Accoun_9
Estimates, Significant Accounting Policies and Balance Sheet Detials (Other Current Assets) (Details) - USD ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
ESTIMATES, SIGNIFICANT ACCOUNTING POLICIES AND BALANCE SHEET DETAIL | ||
Deposits paid to vendors | $ 95 | $ 141 |
Prepaid expenses and other | 187 | 215 |
Total other current assets | $ 282 | $ 356 |
Estimates, Significant Accou_10
Estimates, Significant Accounting Policies and Balance Sheet Detials (Components and useful lives of property, plant and equipment) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Jan. 01, 2019 | Dec. 31, 2018 | |
Property, Plant and Equipment, Gross | $ 85,359 | $ 79,280 | |
Less - Accumulated depreciation | (15,388) | (12,625) | |
Property, plant and equipment, net | 69,971 | $ 66,654 | 66,655 |
Land and improvements | |||
Property, Plant and Equipment, Gross | 1,075 | 1,168 | |
Buildings and improvements (1 to 45 years) | |||
Property, Plant and Equipment, Gross | 2,581 | 2,636 | |
Pipelines and equipment (5 to 83 years) | |||
Property, Plant and Equipment, Gross | 62,508 | 58,783 | |
Bulk Storage Equipment And Facilities [Member] | |||
Property, Plant and Equipment, Gross | 4,739 | 4,978 | |
Right of way (20 to 83 years) | |||
Property, Plant and Equipment, Gross | 4,736 | 4,533 | |
Other (1 to 48 years) | |||
Property, Plant and Equipment, Gross | 1,499 | 1,115 | |
Construction Work-In-Process [Member] | |||
Property, Plant and Equipment, Gross | $ 8,221 | $ 6,067 | |
Minimum [Member] | Buildings and improvements (1 to 45 years) | |||
Property, plant and equipment useful life, minimum in years | 1 year | ||
Minimum [Member] | Pipelines and equipment (5 to 83 years) | |||
Property, plant and equipment useful life, minimum in years | 5 years | ||
Minimum [Member] | Bulk Storage Equipment And Facilities [Member] | |||
Property, plant and equipment useful life, minimum in years | 2 years | ||
Minimum [Member] | Right of way (20 to 83 years) | |||
Property, plant and equipment useful life, minimum in years | 20 years | ||
Minimum [Member] | Other (1 to 48 years) | |||
Property, plant and equipment useful life, minimum in years | 1 year | ||
Maximum [Member] | Buildings and improvements (1 to 45 years) | |||
Property, plant and equipment useful life, minimum in years | 45 years | ||
Maximum [Member] | Pipelines and equipment (5 to 83 years) | |||
Property, plant and equipment useful life, minimum in years | 83 years | ||
Maximum [Member] | Right of way (20 to 83 years) | |||
Property, plant and equipment useful life, minimum in years | 83 years | ||
Maximum [Member] | Other (1 to 48 years) | |||
Property, plant and equipment useful life, minimum in years | 48 years |
Estimates, Significant Accou_11
Estimates, Significant Accounting Policies and Balance Sheet Detials (Schedule of Property, Plant and Equipment Depreciation and Capitalized Interest Expense (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
ESTIMATES, SIGNIFICANT ACCOUNTING POLICIES AND BALANCE SHEET DETAIL | |||
Depreciation, depletion and amortization expense | $ 2,816 | $ 2,522 | $ 2,199 |
Capitalized interest | $ 166 | $ 294 | $ 286 |
Estimates, Significant Accou_12
Estimates, Significant Accounting Policies and Balance Sheet Detials (Other Non-Current Assets) (Details) - USD ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
ESTIMATES, SIGNIFICANT ACCOUNTING POLICIES AND BALANCE SHEET DETAIL | ||
Regulatory assets | $ 42 | $ 43 |
Defined Benefit Plan, Pension Plan with Projected Benefit Obligation in Excess of Plan Assets, Plan Assets | 84 | 68 |
Deferred charges | 178 | 178 |
Restricted funds | 178 | 178 |
Other | 494 | 539 |
Total other non-current assets, net | $ 976 | $ 1,006 |
Estimates, Significant Accou_13
Estimates, Significant Accounting Policies and Balance Sheet Detials (Intangible assets) (Details) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Gross Carrying Amount | $ 7,514 | $ 7,560 |
Accumulated Amortization | (1,819) | (1,560) |
Trademarks [Member] | ||
Gross Carrying Amount | 295 | 295 |
Accumulated Amortization | 0 | 0 |
Customer relationships, contracts and agreements (3 to 46 years) | ||
Gross Carrying Amount | 7,074 | 7,106 |
Accumulated Amortization | (1,741) | (1,493) |
Patents (10 years) | ||
Gross Carrying Amount | 48 | 48 |
Accumulated Amortization | (35) | (30) |
Trade Names (20 years) | ||
Gross Carrying Amount | 66 | 66 |
Accumulated Amortization | (31) | (28) |
Other (5 to 20 years) | ||
Gross Carrying Amount | 19 | 33 |
Accumulated Amortization | (12) | (9) |
Other non-amortizable intangible assets [Member] | ||
Gross Carrying Amount | 12 | 12 |
Accumulated Amortization | 0 | 0 |
Total Amortizable Intangible Assets [Member] | ||
Gross Carrying Amount | 7,207 | 7,253 |
Accumulated Amortization | (1,819) | (1,560) |
Non-amortizable intangible assets [Member] | ||
Gross Carrying Amount | 307 | 307 |
Accumulated Amortization | $ 0 | $ 0 |
Maximum [Member] | Customer relationships, contracts and agreements (3 to 46 years) | ||
Useful Lives | 46 years | |
Maximum [Member] | Patents (10 years) | ||
Useful Lives | 10 years | |
Maximum [Member] | Trade Names (20 years) | ||
Useful Lives | 20 years | |
Maximum [Member] | Other (5 to 20 years) | ||
Useful Lives | 20 years | |
Minimum [Member] | Customer relationships, contracts and agreements (3 to 46 years) | ||
Useful Lives | 3 years | |
Minimum [Member] | Other (5 to 20 years) | ||
Useful Lives | 5 years |
Estimates, Significant Accou_14
Estimates, Significant Accounting Policies and Balance Sheet Detials (Amortization expense of intangible assets) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Depreciation And Amortization [Member] | |||
Reported in depreciation, depletion and amortization expense | $ 308 | $ 321 | $ 336 |
Estimates, Significant Accou_15
Estimates, Significant Accounting Policies and Balance Sheet Detials (Estimated aggregate amortization expense) (Details) $ in Millions | Dec. 31, 2019USD ($) |
ESTIMATES, SIGNIFICANT ACCOUNTING POLICIES AND BALANCE SHEET DETAIL | |
2020 | $ 371 |
2021 | 367 |
2022 | 337 |
2023 | 297 |
2024 | $ 284 |
Estimates, Significant Accou_16
Estimates, Significant Accounting Policies and Balance Sheet Detials (Changes in the carrying amount of goodwill) (Details) - USD ($) $ in Millions | 3 Months Ended | 12 Months Ended | |||
Sep. 30, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2019 | Dec. 31, 2018 | |
Goodwill, Beginning Balance | $ 4,885 | $ 4,729 | |||
Goodwill acquired | 42 | 495 | |||
Goodwill, Transfers | 0 | ||||
Impairment losses | $ (12) | $ (9) | (21) | (378) | |
Other | (4) | 39 | |||
Goodwill, Ending Balance | 4,885 | $ 4,729 | 4,902 | 4,885 | |
Intrastate Transportation And Storage [Member] | |||||
Goodwill, Beginning Balance | 10 | 10 | |||
Goodwill acquired | 0 | 0 | |||
Goodwill, Transfers | 0 | ||||
Impairment losses | 0 | 0 | |||
Other | 0 | 0 | |||
Goodwill, Ending Balance | 10 | 10 | 10 | 10 | |
Interstate Transportation and Storage [Member] | |||||
Goodwill, Beginning Balance | 196 | 196 | |||
Goodwill acquired | 42 | 0 | |||
Goodwill, Transfers | 0 | ||||
Impairment losses | (262) | (12) | 0 | ||
Other | 0 | 0 | |||
Goodwill, Ending Balance | 196 | 196 | 226 | 196 | |
Midstream [Member] | |||||
Goodwill, Beginning Balance | 492 | 870 | |||
Goodwill acquired | 0 | 0 | |||
Goodwill, Transfers | 0 | ||||
Impairment losses | 378 | (9) | (378) | ||
Other | 0 | 0 | |||
Goodwill, Ending Balance | 492 | 870 | 483 | 492 | |
Other Segments [Member] | |||||
Goodwill, Beginning Balance | 149 | 363 | |||
Goodwill acquired | 0 | 0 | |||
Goodwill, Transfers | (253) | ||||
Impairment losses | (452) | 0 | 0 | ||
Other | 0 | 39 | |||
Goodwill, Ending Balance | 149 | 363 | 149 | 149 | |
NGL and refined products transportation and services [Member] | |||||
Goodwill, Beginning Balance | 693 | 693 | |||
Goodwill acquired | 0 | 0 | |||
Goodwill, Transfers | 0 | ||||
Impairment losses | (79) | 0 | 0 | ||
Other | 0 | 0 | |||
Goodwill, Ending Balance | 693 | 693 | 693 | 693 | |
Crude oil transportation and services [Member] | |||||
Goodwill, Beginning Balance | 1,167 | 1,167 | |||
Goodwill acquired | 0 | 0 | |||
Goodwill, Transfers | 0 | ||||
Impairment losses | 0 | 0 | |||
Other | 0 | 0 | |||
Goodwill, Ending Balance | 1,167 | 1,167 | 1,167 | 1,167 | |
Investment In Sunoco LP [Member] | |||||
Goodwill, Beginning Balance | 1,559 | 1,430 | |||
Goodwill acquired | 0 | 129 | |||
Goodwill, Transfers | 0 | ||||
Impairment losses | (387) | 0 | 0 | ||
Other | (4) | 0 | |||
Goodwill, Ending Balance | 1,559 | 1,430 | 1,555 | 1,559 | |
Investment In USAC [Member] | |||||
Goodwill, Beginning Balance | 619 | 0 | |||
Goodwill acquired | 0 | 366 | |||
Goodwill, Transfers | 253 | ||||
Impairment losses | 0 | 0 | |||
Other | 0 | 0 | |||
Goodwill, Ending Balance | $ 619 | $ 0 | $ 619 | $ 619 |
Estimates, Significant Accou_17
Estimates, Significant Accounting Policies and Balance Sheet Detials (Accrued and Other Current Liabilities) (Details) - USD ($) $ in Millions | Dec. 31, 2019 | Jan. 01, 2019 | Dec. 31, 2018 |
Other Information [Abstract] | |||
Interest payable | $ 576 | $ 503 | |
Customer advances and deposits | 123 | 128 | |
Accrued capital expenditures | 1,265 | 1,030 | |
Accrued wages and benefits | 217 | 283 | |
Taxes payable other than income taxes | 263 | 256 | |
Exchanges payable | 67 | 112 | |
Other | 705 | 535 | |
Total accrued and other current liabilities | $ 3,216 | $ 2,846 | $ 2,847 |
Estimates, Significant Accou_18
Estimates, Significant Accounting Policies and Balance Sheet Detials (Assets and liabilities measured and recorded at fair value on a recurring basis) (Details) - Fair Value, Recurring [Member] - USD ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
Price Risk Derivative Assets, at Fair Value | $ 384 | $ 560 |
Other Assets, Fair Value Disclosure | 31 | 26 |
Interest rate derivatives, Liabilities | (399) | (163) |
Price Risk Derivative Liabilities, at Fair Value | (389) | (583) |
Financial and Nonfinancial Liabilities, Fair Value Disclosure | 788 | 746 |
Assets, Fair Value Disclosure | 415 | 586 |
Options - Calls [Member] | Commodity Derivatives - Power [Member] | ||
Price Risk Derivative Assets, at Fair Value | 1 | 1 |
Forward Physical Contracts [Member] | Commodity Derivatives - Natural Gas [Member] | ||
Price Risk Derivative Liabilities, at Fair Value | (21) | |
Future [Member] | Commodity Derivatives - Refined Products [Member] | ||
Price Risk Derivative Assets, at Fair Value | 8 | 7 |
Price Risk Derivative Liabilities, at Fair Value | (10) | (15) |
Future [Member] | Commodity Derivatives - Power [Member] | ||
Price Risk Derivative Assets, at Fair Value | 4 | 1 |
Price Risk Derivative Liabilities, at Fair Value | (3) | (1) |
Future [Member] | Commodity Derivatives - Crude [Member] | ||
Price Risk Derivative Liabilities, at Fair Value | (61) | |
Options - Puts [Member] | Commodity Derivatives - Power [Member] | ||
Price Risk Derivative Assets, at Fair Value | 1 | |
Forwards Swaps [Member] | Commodity Derivatives - NGLs [Member] | ||
Price Risk Derivative Assets, at Fair Value | 260 | 291 |
Price Risk Derivative Liabilities, at Fair Value | (278) | (224) |
Forwards Swaps [Member] | Commodity Derivatives - Power [Member] | ||
Price Risk Derivative Assets, at Fair Value | 11 | 48 |
Price Risk Derivative Liabilities, at Fair Value | (5) | (42) |
Forwards Swaps [Member] | Commodity Derivatives - Crude [Member] | ||
Price Risk Derivative Assets, at Fair Value | 13 | 1 |
Forward Physical Swaps [Member] | Commodity Derivatives - Natural Gas [Member] | ||
Price Risk Derivative Assets, at Fair Value | 3 | 20 |
Basis Swaps IFERC/NYMEX [Member] | Commodity Derivatives - Natural Gas [Member] | ||
Price Risk Derivative Assets, at Fair Value | 17 | 42 |
Price Risk Derivative Liabilities, at Fair Value | (49) | (91) |
Swing Swaps IFERC [Member] | Commodity Derivatives - Natural Gas [Member] | ||
Price Risk Derivative Assets, at Fair Value | 1 | 52 |
Price Risk Derivative Liabilities, at Fair Value | (1) | (40) |
Fixed Swaps Futures [Member] | Commodity Derivatives - Natural Gas [Member] | ||
Price Risk Derivative Assets, at Fair Value | 65 | 97 |
Price Risk Derivative Liabilities, at Fair Value | (43) | (88) |
Fair Value, Inputs, Level 1 [Member] | ||
Price Risk Derivative Assets, at Fair Value | 369 | 448 |
Other Assets, Fair Value Disclosure | 20 | 17 |
Interest rate derivatives, Liabilities | 0 | 0 |
Price Risk Derivative Liabilities, at Fair Value | (383) | (480) |
Financial and Nonfinancial Liabilities, Fair Value Disclosure | 383 | 480 |
Assets, Fair Value Disclosure | 389 | 465 |
Fair Value, Inputs, Level 1 [Member] | Options - Calls [Member] | Commodity Derivatives - Power [Member] | ||
Price Risk Derivative Assets, at Fair Value | 1 | 1 |
Fair Value, Inputs, Level 1 [Member] | Forward Physical Contracts [Member] | Commodity Derivatives - Natural Gas [Member] | ||
Price Risk Derivative Liabilities, at Fair Value | 0 | |
Fair Value, Inputs, Level 1 [Member] | Future [Member] | Commodity Derivatives - Refined Products [Member] | ||
Price Risk Derivative Assets, at Fair Value | 8 | 7 |
Price Risk Derivative Liabilities, at Fair Value | (10) | (15) |
Fair Value, Inputs, Level 1 [Member] | Future [Member] | Commodity Derivatives - Power [Member] | ||
Price Risk Derivative Assets, at Fair Value | 4 | 1 |
Price Risk Derivative Liabilities, at Fair Value | (3) | (1) |
Fair Value, Inputs, Level 1 [Member] | Future [Member] | Commodity Derivatives - Crude [Member] | ||
Price Risk Derivative Liabilities, at Fair Value | (61) | |
Fair Value, Inputs, Level 1 [Member] | Options - Puts [Member] | Commodity Derivatives - Power [Member] | ||
Price Risk Derivative Assets, at Fair Value | 1 | |
Fair Value, Inputs, Level 1 [Member] | Forwards Swaps [Member] | Commodity Derivatives - NGLs [Member] | ||
Price Risk Derivative Assets, at Fair Value | 260 | 291 |
Price Risk Derivative Liabilities, at Fair Value | (278) | (224) |
Fair Value, Inputs, Level 1 [Member] | Forwards Swaps [Member] | Commodity Derivatives - Power [Member] | ||
Price Risk Derivative Assets, at Fair Value | 0 | 0 |
Price Risk Derivative Liabilities, at Fair Value | 0 | 0 |
Fair Value, Inputs, Level 1 [Member] | Forwards Swaps [Member] | Commodity Derivatives - Crude [Member] | ||
Price Risk Derivative Assets, at Fair Value | 13 | 1 |
Fair Value, Inputs, Level 1 [Member] | Forward Physical Swaps [Member] | Commodity Derivatives - Natural Gas [Member] | ||
Price Risk Derivative Assets, at Fair Value | 0 | 0 |
Fair Value, Inputs, Level 1 [Member] | Basis Swaps IFERC/NYMEX [Member] | Commodity Derivatives - Natural Gas [Member] | ||
Price Risk Derivative Assets, at Fair Value | 17 | 42 |
Price Risk Derivative Liabilities, at Fair Value | (49) | (91) |
Fair Value, Inputs, Level 1 [Member] | Swing Swaps IFERC [Member] | Commodity Derivatives - Natural Gas [Member] | ||
Price Risk Derivative Assets, at Fair Value | 0 | 8 |
Price Risk Derivative Liabilities, at Fair Value | 0 | 0 |
Fair Value, Inputs, Level 1 [Member] | Fixed Swaps Futures [Member] | Commodity Derivatives - Natural Gas [Member] | ||
Price Risk Derivative Assets, at Fair Value | 65 | 97 |
Price Risk Derivative Liabilities, at Fair Value | (43) | (88) |
Fair Value, Inputs, Level 2 [Member] | ||
Price Risk Derivative Assets, at Fair Value | 15 | 112 |
Other Assets, Fair Value Disclosure | 11 | 9 |
Interest rate derivatives, Liabilities | (399) | (163) |
Price Risk Derivative Liabilities, at Fair Value | (6) | (103) |
Financial and Nonfinancial Liabilities, Fair Value Disclosure | 405 | 266 |
Assets, Fair Value Disclosure | 26 | 121 |
Fair Value, Inputs, Level 2 [Member] | Options - Calls [Member] | Commodity Derivatives - Power [Member] | ||
Price Risk Derivative Assets, at Fair Value | 0 | 0 |
Fair Value, Inputs, Level 2 [Member] | Forward Physical Contracts [Member] | Commodity Derivatives - Natural Gas [Member] | ||
Price Risk Derivative Liabilities, at Fair Value | (21) | |
Fair Value, Inputs, Level 2 [Member] | Future [Member] | Commodity Derivatives - Refined Products [Member] | ||
Price Risk Derivative Assets, at Fair Value | 0 | 0 |
Price Risk Derivative Liabilities, at Fair Value | 0 | 0 |
Fair Value, Inputs, Level 2 [Member] | Future [Member] | Commodity Derivatives - Power [Member] | ||
Price Risk Derivative Assets, at Fair Value | 0 | 0 |
Price Risk Derivative Liabilities, at Fair Value | 0 | 0 |
Fair Value, Inputs, Level 2 [Member] | Future [Member] | Commodity Derivatives - Crude [Member] | ||
Price Risk Derivative Liabilities, at Fair Value | 0 | |
Fair Value, Inputs, Level 2 [Member] | Options - Puts [Member] | Commodity Derivatives - Power [Member] | ||
Price Risk Derivative Assets, at Fair Value | 0 | |
Fair Value, Inputs, Level 2 [Member] | Forwards Swaps [Member] | Commodity Derivatives - NGLs [Member] | ||
Price Risk Derivative Assets, at Fair Value | 0 | 0 |
Price Risk Derivative Liabilities, at Fair Value | 0 | 0 |
Fair Value, Inputs, Level 2 [Member] | Forwards Swaps [Member] | Commodity Derivatives - Power [Member] | ||
Price Risk Derivative Assets, at Fair Value | 11 | 48 |
Price Risk Derivative Liabilities, at Fair Value | (5) | (42) |
Fair Value, Inputs, Level 2 [Member] | Forwards Swaps [Member] | Commodity Derivatives - Crude [Member] | ||
Price Risk Derivative Assets, at Fair Value | 0 | 0 |
Fair Value, Inputs, Level 2 [Member] | Forward Physical Swaps [Member] | Commodity Derivatives - Natural Gas [Member] | ||
Price Risk Derivative Assets, at Fair Value | 3 | 20 |
Fair Value, Inputs, Level 2 [Member] | Basis Swaps IFERC/NYMEX [Member] | Commodity Derivatives - Natural Gas [Member] | ||
Price Risk Derivative Assets, at Fair Value | 0 | 0 |
Price Risk Derivative Liabilities, at Fair Value | 0 | 0 |
Fair Value, Inputs, Level 2 [Member] | Swing Swaps IFERC [Member] | Commodity Derivatives - Natural Gas [Member] | ||
Price Risk Derivative Assets, at Fair Value | 1 | 44 |
Price Risk Derivative Liabilities, at Fair Value | (1) | (40) |
Fair Value, Inputs, Level 2 [Member] | Fixed Swaps Futures [Member] | Commodity Derivatives - Natural Gas [Member] | ||
Price Risk Derivative Assets, at Fair Value | 0 | 0 |
Price Risk Derivative Liabilities, at Fair Value | $ 0 | $ 0 |
Estimates, Significant Accou_19
Estimates, Significant Accounting Policies and Balance Sheet Detials (Costs and expenses) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Retail Marketing [Member] | |||
Excise Taxes Collected | $ 386 | $ 370 | $ 234 |
Acquisitions, Divestitures an_3
Acquisitions, Divestitures and Related Transactions (2018 Transactions) (Details) gal in Millions, $ in Millions | 1 Months Ended | 3 Months Ended | 12 Months Ended | |||||||||||
Oct. 31, 2018shares | Apr. 30, 2018USD ($)shares | Jan. 22, 2018USD ($) | Dec. 31, 2019USD ($) | Sep. 30, 2019USD ($) | Jun. 30, 2019USD ($) | Mar. 31, 2019USD ($) | Dec. 31, 2018USD ($) | Sep. 30, 2018USD ($) | Jun. 30, 2018USD ($) | Mar. 31, 2018USD ($) | Dec. 31, 2019USD ($)sharesgal | Dec. 31, 2018USD ($) | Dec. 31, 2017USD ($) | |
Business Acquisition [Line Items] | ||||||||||||||
Long-term Purchase Commitment, Minimum Volume Required | gal | 2,000 | |||||||||||||
Revenues | $ | $ 13,539 | $ 13,495 | $ 13,877 | $ 13,121 | $ 13,573 | $ 14,514 | $ 14,118 | $ 11,882 | $ 54,032 | $ 54,087 | $ 40,523 | |||
Impairment losses | $ | $ 12 | $ 9 | 21 | 378 | ||||||||||
USAC Transaction [Member] | ||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||
Business Combination, Consideration Transferred | $ | $ 1,700 | |||||||||||||
Payments to Acquire Businesses, Gross | $ | $ 1,230 | |||||||||||||
7-Eleven [Member] | ||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||
Revenues | $ | $ 199 | 3,200 | ||||||||||||
Trade Receivables Held-for-sale, Reconciliation to Cash Flow, Period Increase (Decrease) | $ | $ 3,700 | $ 3,400 | ||||||||||||
Sunoco LP [Member] | ETE Merger [Member] | ||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||
Sale of Stock, Number of Shares Issued in Transaction | 2,263,158 | |||||||||||||
USA Compression Partners, LP [Member] | USAC Transaction [Member] | ||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||
Sale of Stock, Number of Shares Issued in Transaction | 19,191,351 | |||||||||||||
USA Compression Partners, LP [Member] | USAC Transaction [Member] | Class B Units [Member] | ||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||
Sale of Stock, Number of Shares Issued in Transaction | 6,397,965 | |||||||||||||
Sunoco GP [Member] | ETE Merger [Member] | ||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||
Limited Liability Company or Limited Partnership, Members or Limited Partners, Ownership Interest | 100.00% | |||||||||||||
USAC [Member] | ETE Merger [Member] | ||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||
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] | ||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||
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] | ||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||
Limited Liability Company or Limited Partnership, Members or Limited Partners, Ownership Interest | 60.00% | |||||||||||||
ETO [Member] | Sunoco LP [Member] | ETE Merger [Member] | ||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||
Sale of Stock, Number of Shares Issued in Transaction | 2,874,275 | |||||||||||||
ETO [Member] | Sunoco GP [Member] | ETE Merger [Member] | ||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||
Sale of Stock, Number of Shares Issued in Transaction | 42,812,389 | |||||||||||||
ETO [Member] | USAC [Member] | ETE Merger [Member] | ||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||
Sale of Stock, Number of Shares Issued in Transaction | 16,134,903 | |||||||||||||
ETO [Member] | Lake Charles LNG [Member] | ETE Merger [Member] | ||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||
Sale of Stock, Number of Shares Issued in Transaction | 37,557,815 | |||||||||||||
ET | USA Compression Partners, LP [Member] | USAC Transaction [Member] | ||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||
Sale of Stock, Number of Shares Issued in Transaction | 12,466,912 | |||||||||||||
Equity Issued in Business Combination, Fair Value Disclosure | $ | $ 250 | |||||||||||||
USAC GP [Member] | USA Compression Partners, LP [Member] | ||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||
Sale of Stock, Number of Shares Issued in Transaction | 8,000,000 | |||||||||||||
Additional aggregate volumes [Member] | ||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||
Long-term Purchase Commitment, Minimum Volume Required | gal | 500 |
Acquisitions, Divestitures an_4
Acquisitions, Divestitures and Related Transactions (2017 Transactions) (Details) $ in Millions | 1 Months Ended | 9 Months Ended | 12 Months Ended | |||||
Oct. 31, 2017 | Jul. 31, 2017 | Apr. 30, 2017 | Feb. 28, 2017 | Sep. 30, 2017USD ($) | Dec. 31, 2019USD ($) | Dec. 31, 2018USD ($) | Dec. 31, 2017USD ($) | |
Business Acquisition [Line Items] | ||||||||
Capital contributions from noncontrolling interest | $ 348 | $ 649 | $ 2,202 | |||||
Intangible assets, net | 5,695 | 6,000 | ||||||
Property, plant and equipment | $ 85,359 | $ 79,280 | ||||||
SXL and ETP Merger [Member] | ||||||||
Business Acquisition [Line Items] | ||||||||
Conversion Rate of Units in Merger, Per Unit | 1.5 | |||||||
ETO [Member] | Rover Contribution [Member] | ||||||||
Business Acquisition [Line Items] | ||||||||
Subsidiary of Limited Liability Company or Limited Partnership, Ownership Interest | 50.10% | |||||||
ETO [Member] | Holdco [Member] | Rover Contribution [Member] | ||||||||
Business Acquisition [Line Items] | ||||||||
Subsidiary of Limited Liability Company or Limited Partnership, Ownership Interest | 49.90% | |||||||
Holdco [Member] | Rover Pipeline LLC [Member] | Rover Contribution [Member] | ||||||||
Business Acquisition [Line Items] | ||||||||
Subsidiary of Limited Liability Company or Limited Partnership, Ownership Interest | 65.00% | |||||||
Blackstone [Member] | Rover Contribution [Member] | ||||||||
Business Acquisition [Line Items] | ||||||||
Subsidiary of Limited Liability Company or Limited Partnership, Ownership Interest | 49.90% | |||||||
Permian Express Partners LLC [Member] | Sunoco Logistics [Member] | ||||||||
Business Acquisition [Line Items] | ||||||||
Subsidiary of Limited Liability Company or Limited Partnership, Ownership Interest | 88.00% | |||||||
Capital contributions from noncontrolling interest | $ 988 | |||||||
Intangible assets, net | 547 | |||||||
Property, plant and equipment | $ 435 | |||||||
Dakota Access, LLC [Member] | Energy Transfer Crude Oil Company, LLC [Member] | ||||||||
Business Acquisition [Line Items] | ||||||||
Subsidiary of Limited Liability Company or Limited Partnership, Ownership Interest | 15.00% | |||||||
Bakken Holdings Company LLC [Member] | Sunoco Logistics [Member] | ||||||||
Business Acquisition [Line Items] | ||||||||
Subsidiary of Limited Liability Company or Limited Partnership, Ownership Interest | 49.00% | |||||||
Bakken Holdings Company LLC [Member] | ETO [Member] | ||||||||
Business Acquisition [Line Items] | ||||||||
Subsidiary of Limited Liability Company or Limited Partnership, Ownership Interest | 100.00% |
Acquisitions, Divestitures an_5
Acquisitions, Divestitures and Related Transactions (Summary of Preliminary Assets And LiabilityAcquired) (Details) - USD ($) $ in Millions | Dec. 05, 2019 | Apr. 30, 2018 | |
SemGroup [Member] | |||
Property, plant and equipment | $ 2,544 | ||
Other non-current assets | 574 | ||
Goodwill | 230 | ||
Total assets | 4,176 | ||
Total current liabilities | 480 | ||
Long-term debt, less current maturities | 812 | ||
Other non-current liabilities | 109 | ||
Noncontrolling interest | 335 | ||
Partners’ capital | 2,440 | ||
Total liabilities | 1,401 | ||
Total liabilities and partners’ capital | 4,176 | ||
Total current assets | 548 | ||
Intangible assets | $ 280 | ||
USA Compression Partners, LP [Member] | |||
Property, plant and equipment | $ 1,332 | ||
Other non-current assets | 15 | ||
Goodwill | [1] | 366 | |
Total assets | 2,721 | ||
Total current liabilities | 110 | ||
Long-term debt, less current maturities | 1,527 | ||
Other non-current liabilities | 2 | ||
Noncontrolling interest | 832 | ||
Total liabilities | 1,639 | ||
Total consideration | 250 | ||
Cash received(2) | [2] | 711 | |
Total liabilities and partners’ capital | (461) | ||
Total current assets | 786 | ||
Intangible assets | $ 222 | ||
[1] | None of the goodwill is expected to be deductible for tax purposes. Goodwill recognized from the business combination primarily relates to the value attributed to additional growth opportunities, synergies and operating leverage within USAC’s operations. | ||
[2] | Cash received represents cash and cash equivalents held by USAC as of the acquisition date. |
Acquisitions, Divestitures an_6
Acquisitions, Divestitures and Related Transactions Selected Financial Data (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
REVENUES | $ 349 | $ 6,964 | |
Cost of products sold | 305 | 5,806 | |
Operating expenses | 61 | 763 | |
Depreciation, depletion and amortization | 0 | 34 | |
Impairment losses | 0 | 285 | |
Selling, general and administrative | 7 | 168 | |
Total costs and expenses | 373 | 7,056 | |
OPERATING LOSS | (24) | (92) | |
Interest expense, net | 2 | 36 | |
Loss on extinguishment of debt | 20 | 0 | |
Other, net | 61 | 1 | |
LOSS FROM DISCONTINUED OPERATIONS BEFORE INCOME TAX EXPENSE | (107) | (129) | |
Income tax expense | 158 | 48 | |
LOSS FROM DISCONTINUED OPERATIONS, NET OF INCOME TAXES | $ 0 | $ (265) | $ (177) |
Advances to and Investments i_3
Advances to and Investments in Unconsolidated Affiliates (Narrative) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Schedule of Investments [Line Items] | |||
Impairment of investments in unconsolidated affiliates | $ 0 | $ 0 | $ 313 |
Impairment losses | 74 | 431 | 1,039 |
Advances to and investments in unconsolidated affiliates | 3,018 | 2,636 | 2,698 |
Goodwill | $ 4,902 | $ 4,885 | $ 4,729 |
FGT | |||
Schedule of Investments [Line Items] | |||
Percentage Ownership Operating Facility | 100.00% | ||
Citrus [Member] | |||
Schedule of Investments [Line Items] | |||
Equity Method Investment, Ownership Percentage | 50.00% | ||
Business Acquisition, Percentage of Voting Interests Acquired | 50.00% | ||
FEP [Member] | |||
Schedule of Investments [Line Items] | |||
Equity Method Investment, Ownership Percentage | 50.00% | ||
Impairment of investments in unconsolidated affiliates | $ 141 | ||
MEP [Member] | |||
Schedule of Investments [Line Items] | |||
Equity Method Investment, Ownership Percentage | 50.00% | ||
Sunoco LP [Member] | |||
Schedule of Investments [Line Items] | |||
Impairment losses | $ 47 |
Advances to and Investments i_4
Advances to and Investments in Unconsolidated Affiliates (Investments in Unconsolidated Affiliates) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Schedule of Equity Method Investments [Line Items] | |||
Equity in earnings of unconsolidated affiliates | $ 298 | $ 344 | $ 144 |
Advances to and investments in unconsolidated affiliates | 3,018 | 2,636 | 2,698 |
Citrus [Member] | |||
Schedule of Equity Method Investments [Line Items] | |||
Equity in earnings of unconsolidated affiliates | 148 | 141 | 144 |
Advances to and investments in unconsolidated affiliates | 1,876 | 1,737 | |
FEP [Member] | |||
Schedule of Equity Method Investments [Line Items] | |||
Equity in earnings of unconsolidated affiliates | 59 | 55 | 53 |
Advances to and investments in unconsolidated affiliates | 218 | 107 | |
MEP [Member] | |||
Schedule of Equity Method Investments [Line Items] | |||
Equity in earnings of unconsolidated affiliates | 15 | 31 | 38 |
Advances to and investments in unconsolidated affiliates | 429 | 225 | |
Other Affiliates [Member] | |||
Schedule of Equity Method Investments [Line Items] | |||
Equity in earnings of unconsolidated affiliates | 76 | 117 | $ (91) |
Advances to and investments in unconsolidated affiliates | $ 495 | $ 567 |
Advances to and Investments i_5
Advances to and Investments in Unconsolidated Affiliates (Summarized Financial Information) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Investments in and Advances to Affiliates [Line Items] | |||
Revenue | $ 1,192 | $ 1,249 | $ 1,358 |
Operating income | 683 | 723 | 407 |
Net income | 443 | 460 | $ 145 |
Current assets | 247 | 212 | |
Property, plant and equipment, net | 7,680 | 7,800 | |
Other assets | 40 | 39 | |
Total assets | 7,967 | 8,051 | |
Current liabilities | 738 | 1,534 | |
Non-current liabilities | 3,242 | 3,439 | |
Equity | 3,987 | 3,078 | |
Total liabilities and equity | $ 7,967 | $ 8,051 |
Debt Obligations (Narrative) (D
Debt Obligations (Narrative) (Details) - USD ($) | 1 Months Ended | 3 Months Ended | 12 Months Ended | ||||||||
Jun. 30, 2019 | Mar. 31, 2019 | Jan. 31, 2019 | Feb. 28, 2018 | Mar. 31, 2019 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | Jan. 31, 2021 | Jan. 31, 2020 | Oct. 31, 2019 | |
Unamortized Discounts, Premiums, Fair Value Adjustments and Deferred Debt Issuance Costs | $ (273,000,000) | ||||||||||
Long-term Debt | 50,346,000,000 | $ 40,508,000,000 | |||||||||
Proceeds from Issuance of Senior Long-term Debt | $ 3,960,000,000 | 4,210,000,000 | |||||||||
Proceeds from borrowings | 22,583,000,000 | 28,538,000,000 | $ 29,389,000,000 | ||||||||
Repayments of Long-term Debt | $ 16,874,000,000 | 27,297,000,000 | $ 29,387,000,000 | ||||||||
Supplementary Leverage Ratio | 404.00% | ||||||||||
ETO [Member] | |||||||||||
Long-term Debt | $ 42,120,000,000 | 32,288,000,000 | |||||||||
Senior note interest rate | 9.00% | ||||||||||
Senior note maturity date | Nov. 1, 2024 | ||||||||||
Leverage Ratio Maximum | 5 | ||||||||||
Maximum Leverage Ratio Permitted | 5.5 | ||||||||||
Transwestern [Member] | |||||||||||
Long-term Debt | $ 574,000,000 | 574,000,000 | |||||||||
Panhandle [Member] | |||||||||||
Long-term Debt | 246,000,000 | 399,000,000 | |||||||||
Senior note interest rate | 8.125% | ||||||||||
Repayments of Senior Debt | $ 150,000,000 | ||||||||||
Dakota Access, LLC [Member] | |||||||||||
Proceeds from Issuance of Senior Long-term Debt | $ 2,480,000,000 | ||||||||||
Sunoco LP [Member] | |||||||||||
Long-term Debt | 3,071,000,000 | 2,984,000,000 | |||||||||
Stock Repurchased During Period, Shares | 17,286,859 | ||||||||||
Line of Credit Facility, Increase (Decrease), Net | $ 600,000,000 | ||||||||||
Line of Credit Facility, Maximum Borrowing Capacity | 0.0600 | 0.0600 | |||||||||
USA Compression Partners, LP [Member] | |||||||||||
Long-term Debt | 1,852,000,000 | 1,759,000,000 | |||||||||
Revolving credit facility balance outstanding | 403,000,000 | 1,050,000,000 | |||||||||
USAC [Member] | |||||||||||
Line of Credit Facility, Increase (Decrease), Net | 750,000,000 | ||||||||||
Line of Credit Facility, Maximum Borrowing Capacity | 0.06875 | 0.06875 | |||||||||
Bakken Project [Member] | |||||||||||
Long-term Debt | 2,481,000,000 | 2,497,000,000 | |||||||||
5.75% Senior Notes due September 1, 2020 | ETO [Member] | |||||||||||
Senior note principal amount | $ 400,000,000 | 400,000,000 | |||||||||
Senior note interest rate | 5.75% | ||||||||||
Senior note maturity date | Sep. 1, 2020 | ||||||||||
7.500% Senior Notes due 2020 | ETO [Member] | |||||||||||
Senior note principal amount | $ 1,140,000,000 | $ 1,140,000,000 | |||||||||
Senior note interest rate | 7.50% | 7.50% | |||||||||
Sunoco LP $1.5 billion Revolving Credit Facility due July 2023 [Member] | |||||||||||
Debt Instrument, Covenant Description | Sunoco LP’s Credit Facility requires Sunoco LP to maintain a Net Leverage Ratio of not more than 5.5 to 1. The maximum Net Leverage Ratio is subject to upwards adjustment of not more than 6.0 to 1 for a period not to exceed three fiscal quarters in the event Sunoco LP engages in certain specified acquisitions of not less than $50 million (as permitted under Sunoco LP’s Credit Facility agreement). The Sunoco LP Credit Facility also requires Sunoco LP to maintain an Interest Coverage Ratio (as defined in the Sunoco LP’s Credit Facility agreement) of not less than 2.25 to 1. | ||||||||||
Sunoco LP $1.5 billion Revolving Credit Facility due July 2023 [Member] | Sunoco LP [Member] | |||||||||||
Revolving credit facility balance outstanding | $ 162,000,000 | 700,000,000 | |||||||||
Weighted average interest rate on the total amount outstanding | 3.75% | ||||||||||
Line of Credit Facility, Current Borrowing Capacity | $ 1,500,000,000 | ||||||||||
Letters of Credit Outstanding, Amount | 8,000,000 | ||||||||||
Line of Credit Facility, Remaining Borrowing Capacity | $ 1,330,000,000 | ||||||||||
USAC Credit Facility, due 2023 [Member] | |||||||||||
Debt Instrument, Covenant Description | a maximum funded debt to EBITDA ratio, determined as of the last day of each fiscal quarter, for the annualized trailing three months of (i)Â 5.5 to 1 through the end of the fiscal quarter ending December 31, 2019 and (ii) 5.0 to 1.0 thereafter, in each case subject to a provision for increases to such thresholds by 0.50 in connection with certain future acquisitions for the six consecutive month period following the period in which any such acquisition occurs. | ||||||||||
Minimum interest coverage ratio | 2.5 | ||||||||||
USAC Credit Facility, due 2023 [Member] | USA Compression Partners, LP [Member] | |||||||||||
Line of Credit Facility, Current Borrowing Capacity | $ 1,600,000,000 | ||||||||||
USAC Credit Facility, due 2023 [Member] | USAC [Member] | |||||||||||
Revolving credit facility balance outstanding | $ 403,000,000 | ||||||||||
Weighted average interest rate on the total amount outstanding | 4.31% | ||||||||||
Letters of Credit Outstanding, Amount | $ 0 | ||||||||||
Line of Credit Facility, Remaining Borrowing Capacity | 1,200,000,000 | ||||||||||
9.70% Senior Notes due March 15, 2019 | ETO [Member] | |||||||||||
Senior note principal amount | $ 0 | 400,000,000 | |||||||||
Senior note interest rate | 9.70% | 9.70% | |||||||||
Repayments of Senior Debt | $ 400,000,000 | ||||||||||
Senior note maturity date | Mar. 15, 2019 | ||||||||||
9.00% Senior Notes due April 15, 2019 | ETO [Member] | |||||||||||
Senior note principal amount | $ 0 | 450,000,000 | |||||||||
Senior note interest rate | 9.00% | 9.00% | |||||||||
Repayments of Senior Debt | $ 450,000,000 | ||||||||||
Senior note maturity date | Apr. 15, 2019 | ||||||||||
8.125% Senior Notes due June 1, 2019 | Panhandle [Member] | |||||||||||
Senior note principal amount | $ 0 | 150,000,000 | |||||||||
Senior note interest rate | 8.125% | 8.125% | |||||||||
Repayments of Senior Debt | $ 150,000,000 | ||||||||||
Senior note maturity date | Jun. 1, 2019 | ||||||||||
4.5% Senior Notes due 2024 [Member] | ETO [Member] | |||||||||||
Senior note principal amount | $ 750,000,000 | $ 750,000,000 | 0 | ||||||||
Senior note interest rate | 4.50% | 4.50% | |||||||||
Senior note maturity date | Apr. 15, 2024 | ||||||||||
5.25% Senior Notes due 2029 [Member] | ETO [Member] | |||||||||||
Senior note principal amount | $ 1,500,000,000 | $ 1,500,000,000 | 0 | ||||||||
Senior note interest rate | 5.25% | 5.25% | |||||||||
Senior note maturity date | Apr. 15, 2029 | ||||||||||
6.25% Senior Notes due 2049 [Member] | ETO [Member] | |||||||||||
Senior note principal amount | $ 1,750,000,000 | $ 1,750,000,000 | 0 | ||||||||
Senior note interest rate | 6.25% | 6.25% | |||||||||
Senior note maturity date | Apr. 15, 2049 | ||||||||||
4.25% Senior Notes due April 1, 2024 | ETO [Member] | |||||||||||
Senior note principal amount | $ 500,000,000 | 500,000,000 | |||||||||
Senior note interest rate | 4.25% | ||||||||||
Senior note maturity date | Apr. 1, 2024 | ||||||||||
5.30% Senior Notes due April 1, 2044 | ETO [Member] | |||||||||||
Senior note principal amount | $ 700,000,000 | 700,000,000 | |||||||||
Senior note interest rate | 5.30% | ||||||||||
Senior note maturity date | Apr. 1, 2044 | ||||||||||
3.45% Senior Notes due January 15, 2023 | ETO [Member] | |||||||||||
Senior note principal amount | $ 350,000,000 | 350,000,000 | |||||||||
Senior note interest rate | 3.45% | ||||||||||
Senior note maturity date | Jan. 15, 2023 | ||||||||||
4.95% Senior Notes due January 15, 2043 | ETO [Member] | |||||||||||
Senior note principal amount | $ 350,000,000 | 350,000,000 | |||||||||
Senior note interest rate | 4.95% | ||||||||||
Senior note maturity date | Jan. 15, 2043 | ||||||||||
3.60% Senior Notes due February 1, 2023 | ETO [Member] | |||||||||||
Senior note principal amount | $ 800,000,000 | 800,000,000 | |||||||||
Senior note interest rate | 3.60% | ||||||||||
Senior note maturity date | Feb. 1, 2023 | ||||||||||
5.15% Senior Notes due February 1, 2043 | ETO [Member] | |||||||||||
Senior note principal amount | $ 450,000,000 | 450,000,000 | |||||||||
Senior note interest rate | 5.15% | ||||||||||
Senior note maturity date | Feb. 1, 2043 | ||||||||||
5.35% Senior Notes due May 15, 2045 | ETO [Member] | |||||||||||
Senior note principal amount | $ 800,000,000 | 800,000,000 | |||||||||
Senior note interest rate | 5.35% | ||||||||||
Senior note maturity date | May 15, 2045 | ||||||||||
5.95% Senior Notes due December 1, 2025 | ETO [Member] | |||||||||||
Senior note principal amount | $ 400,000,000 | 400,000,000 | |||||||||
Senior note interest rate | 5.95% | ||||||||||
Senior note maturity date | Dec. 1, 2025 | ||||||||||
Floating Rate Junior Subordinated Notes due November 1, 2066 | ETO [Member] | |||||||||||
Junior Subordinated Notes | $ 546,000,000 | 546,000,000 | |||||||||
Floating Rate Junior Subordinated Notes due November 1, 2066 | Panhandle [Member] | |||||||||||
Junior Subordinated Notes | 54,000,000 | 54,000,000 | |||||||||
ETP Credit Facility due December 2022 [Member] | ETO [Member] | |||||||||||
Revolving credit facility balance outstanding | 4,214,000,000 | 3,694,000,000 | |||||||||
Long-term Commercial Paper, Noncurrent | $ 1,640,000,000 | ||||||||||
Weighted average interest rate on the total amount outstanding | 2.88% | ||||||||||
Line of Credit Facility, Current Borrowing Capacity | $ 5,000,000,000 | ||||||||||
Letters of Credit Outstanding, Amount | 77,000,000 | ||||||||||
Line of Credit Facility, Remaining Borrowing Capacity | 709,000,000 | ||||||||||
3.90% Senior Notes due July 15, 2026 | ETO [Member] | |||||||||||
Senior note principal amount | $ 550,000,000 | 550,000,000 | |||||||||
Senior note interest rate | 3.90% | ||||||||||
Senior note maturity date | Jul. 15, 2026 | ||||||||||
Sunoco Logistics $1.0 billion 364-day Credit Facility due December 2017 [Member] | ETO [Member] | |||||||||||
Revolving credit facility balance outstanding | $ 0 | ||||||||||
Line of Credit Facility, Maximum Borrowing Capacity | 1,000,000,000 | ||||||||||
Bakken Project $2.50 billion Credit Facility due August 2019 [Member] | Bakken Project [Member] | |||||||||||
Revolving credit facility balance outstanding | 0 | 2,500,000,000 | |||||||||
4.20% Senior Notes due 2023 [Member] | ETO [Member] | |||||||||||
Senior note principal amount | $ 500,000,000 | 500,000,000 | |||||||||
Senior note interest rate | 4.20% | ||||||||||
Senior note maturity date | Sep. 15, 2023 | ||||||||||
4.95% Senior Notes due 2028 [Member] | ETO [Member] | |||||||||||
Senior note principal amount | $ 1,000,000,000 | 1,000,000,000 | |||||||||
Senior note interest rate | 4.95% | ||||||||||
Senior note maturity date | Jun. 15, 2028 | ||||||||||
5.80% Senior Notes due 2038 [Member] | ETO [Member] | |||||||||||
Senior note principal amount | $ 500,000,000 | 500,000,000 | |||||||||
Senior note interest rate | 5.80% | ||||||||||
Senior note maturity date | Jun. 15, 2038 | ||||||||||
6.0% Senior Notes due 2048 [Member] | ETO [Member] | |||||||||||
Senior note principal amount | $ 1,000,000,000 | 1,000,000,000 | |||||||||
Senior note interest rate | 6.00% | ||||||||||
Senior note maturity date | Jun. 15, 2048 | ||||||||||
4.875% senior notes due 2023 [Member] | Sunoco LP [Member] | |||||||||||
Senior note principal amount | $ 1,000,000,000 | 1,000,000,000 | |||||||||
Senior note maturity date | Jan. 15, 2023 | ||||||||||
Debt Instrument, Interest Rate, Effective Percentage | 4.875% | ||||||||||
5.500% senior notes due 2026 [Member] | Sunoco LP [Member] | |||||||||||
Senior note principal amount | $ 800,000,000 | 800,000,000 | |||||||||
Senior note maturity date | Feb. 15, 2026 | ||||||||||
Debt Instrument, Interest Rate, Effective Percentage | 5.50% | ||||||||||
5.875% senior notes due 2028 [Member] | Sunoco LP [Member] | |||||||||||
Senior note principal amount | $ 400,000,000 | 400,000,000 | |||||||||
Senior note maturity date | Apr. 15, 2027 | ||||||||||
Debt Instrument, Interest Rate, Effective Percentage | 6.00% | ||||||||||
5.5% Senior Notes due August 2020 [Member] | Sunoco LP [Member] | |||||||||||
Senior note maturity date | Mar. 15, 2028 | ||||||||||
Debt Instrument, Interest Rate, Effective Percentage | 5.875% | ||||||||||
6.875% Senior notes due April 2026 [Member] | USA Compression Partners, LP [Member] | |||||||||||
Senior note principal amount | $ 725,000,000 | 725,000,000 | |||||||||
Senior note maturity date | Apr. 1, 2026 | ||||||||||
Debt Instrument, Interest Rate, Effective Percentage | 6.875% | ||||||||||
4.250% Senior Notes due 2023 | ETO [Member] | |||||||||||
Senior note principal amount | $ 995,000,000 | $ 995,000,000 | $ 995,000,000 | 0 | |||||||
Senior note interest rate | 4.25% | 4.25% | 4.25% | ||||||||
Senior note maturity date | Mar. 15, 2023 | ||||||||||
5.875% Senior Notes due 2024 | ETO [Member] | |||||||||||
Senior note principal amount | $ 1,130,000,000 | $ 1,130,000,000 | $ 1,127,000,000 | 0 | |||||||
Senior note interest rate | 5.875% | 5.875% | 5.875% | ||||||||
Senior note maturity date | Jan. 15, 2024 | ||||||||||
5.500% Senior Notes due 2027 | ETO [Member] | |||||||||||
Senior note principal amount | $ 956,000,000 | $ 956,000,000 | $ 956,000,000 | 0 | |||||||
Senior note interest rate | 5.50% | 5.50% | 5.50% | ||||||||
Senior note maturity date | Jun. 1, 2027 | ||||||||||
3.625% Senior Notes due 2022 [Member] | Dakota Access, LLC [Member] | |||||||||||
Senior note principal amount | $ 650,000,000 | $ 650,000,000 | |||||||||
Senior note interest rate | 3.625% | 3.625% | |||||||||
3.625% Senior Notes due 2022 [Member] | Bakken Project [Member] | |||||||||||
Senior note principal amount | $ 650,000,000 | 0 | |||||||||
Senior note interest rate | 3.625% | ||||||||||
Senior note maturity date | Apr. 1, 2022 | ||||||||||
3.90% Senior Notes due 2024 [Member] | Dakota Access, LLC [Member] | |||||||||||
Senior note principal amount | $ 1,000,000,000 | $ 1,000,000,000 | |||||||||
Senior note interest rate | 3.90% | 3.90% | |||||||||
3.90% Senior Notes due 2024 [Member] | Bakken Project [Member] | |||||||||||
Senior note principal amount | $ 1,000,000,000 | 0 | |||||||||
Senior note interest rate | 3.90% | ||||||||||
Senior note maturity date | Apr. 1, 2024 | ||||||||||
4.625% Senior Notes due 2029 [Member] | Dakota Access, LLC [Member] | |||||||||||
Senior note principal amount | $ 850,000,000 | $ 850,000,000 | |||||||||
Senior note interest rate | 4.625% | 4.625% | |||||||||
4.625% Senior Notes due 2029 [Member] | Bakken Project [Member] | |||||||||||
Senior note principal amount | $ 850,000,000 | 0 | |||||||||
Senior note interest rate | 4.625% | ||||||||||
Senior note maturity date | Apr. 1, 2029 | ||||||||||
ETO Term Loan [Member] | ETO [Member] | |||||||||||
Revolving credit facility balance outstanding | $ 2,000,000,000 | 0 | |||||||||
Weighted average interest rate on the total amount outstanding | 2.78% | ||||||||||
Line of Credit Facility, Maximum Borrowing Capacity | $ 2,000,000,000 | ||||||||||
4.15% Senior Notes due October 1, 2020 [Member] | ETO [Member] | |||||||||||
Senior note principal amount | $ 1,050,000,000 | 1,050,000,000 | |||||||||
Senior note interest rate | 4.15% | ||||||||||
Senior note maturity date | Oct. 1, 2020 | ||||||||||
7.5% Senior Notes due October 15, 2020 [Member] | ETO [Member] | |||||||||||
Senior note principal amount | $ 1,135,000,000 | 0 | |||||||||
Senior note interest rate | 7.50% | ||||||||||
Senior note maturity date | Oct. 15, 2020 | ||||||||||
5.50% Senior Notes due February 15, 2020 | ETO [Member] | |||||||||||
Senior note principal amount | $ 250,000,000 | 250,000,000 | |||||||||
Senior note interest rate | 5.50% | ||||||||||
Senior note maturity date | Feb. 15, 2020 | ||||||||||
5.36% Senior Notes due December 9, 2020 | Transwestern [Member] | |||||||||||
Senior note principal amount | $ 175,000,000 | $ 175,000,000 | |||||||||
Senior note interest rate | 5.36% | ||||||||||
Senior note maturity date | Dec. 9, 2020 | ||||||||||
Maximum [Member] | ETP Credit Facility due December 2022 [Member] | ETO [Member] | |||||||||||
Line of Credit Facility, Commitment Fee Percentage | 0.30% | ||||||||||
Maximum [Member] | Sunoco Logistics $1.0 billion 364-day Credit Facility due December 2017 [Member] | ETO [Member] | |||||||||||
Line of Credit Facility, Commitment Fee Percentage | 0.225% | ||||||||||
Minimum [Member] | ETP Credit Facility due December 2022 [Member] | ETO [Member] | |||||||||||
Line of Credit Facility, Commitment Fee Percentage | 0.125% | ||||||||||
Minimum [Member] | Sunoco Logistics $1.0 billion 364-day Credit Facility due December 2017 [Member] | ETO [Member] | |||||||||||
Line of Credit Facility, Commitment Fee Percentage | 0.125% | ||||||||||
Accordion feature [Member] | USAC Credit Facility, due 2023 [Member] | USA Compression Partners, LP [Member] | |||||||||||
Revolving credit facility balance outstanding | $ 400,000,000 | ||||||||||
Accordion feature [Member] | ETP Credit Facility due December 2022 [Member] | ETO [Member] | |||||||||||
Line of Credit Facility, Current Borrowing Capacity | $ 6,000,000,000 | ||||||||||
Eurodollar [Member] | Maximum [Member] | |||||||||||
Debt Instrument, Basis Spread on Variable Rate | 2.00% | ||||||||||
Eurodollar [Member] | Maximum [Member] | Sunoco Logistics $1.0 billion 364-day Credit Facility due December 2017 [Member] | ETO [Member] | |||||||||||
Debt Instrument, Basis Spread on Variable Rate | 1.75% | ||||||||||
Eurodollar [Member] | Minimum [Member] | ETP Credit Facility due December 2022 [Member] | ETO [Member] | |||||||||||
Debt Instrument, Basis Spread on Variable Rate | 1.125% | ||||||||||
Eurodollar [Member] | Minimum [Member] | Sunoco Logistics $1.0 billion 364-day Credit Facility due December 2017 [Member] | ETO [Member] | |||||||||||
Debt Instrument, Basis Spread on Variable Rate | 1.25% | ||||||||||
Base Rate Loans [Member] | Maximum [Member] | ETP Credit Facility due December 2022 [Member] | ETO [Member] | |||||||||||
Debt Instrument, Basis Spread on Variable Rate | 1.00% | ||||||||||
Base Rate Loans [Member] | Maximum [Member] | Sunoco Logistics $1.0 billion 364-day Credit Facility due December 2017 [Member] | ETO [Member] | |||||||||||
Debt Instrument, Basis Spread on Variable Rate | 0.75% | ||||||||||
Base Rate Loans [Member] | Minimum [Member] | ETP Credit Facility due December 2022 [Member] | ETO [Member] | |||||||||||
Debt Instrument, Basis Spread on Variable Rate | 0.125% | ||||||||||
Base Rate Loans [Member] | Minimum [Member] | Sunoco Logistics $1.0 billion 364-day Credit Facility due December 2017 [Member] | ETO [Member] | |||||||||||
Debt Instrument, Basis Spread on Variable Rate | 0.25% | ||||||||||
Parent Company [Member] | ETE 7.5% Senior Notes due 2020 [Member] | |||||||||||
Senior note principal amount | $ 52,000,000 | ||||||||||
Subsequent Event [Member] | 2.9% Senior Notes due 2025 [Member] | |||||||||||
Senior note principal amount | $ 1,000,000,000 | ||||||||||
Senior note interest rate | 2.90% | ||||||||||
Subsequent Event [Member] | 3.75% Senior Notes due 2030 [Member] | |||||||||||
Senior note principal amount | 1,500,000,000 | ||||||||||
Senior note interest rate | 3.75% | ||||||||||
Subsequent Event [Member] | 5.0% Senior Notes due 2050 [Member] | |||||||||||
Senior note principal amount | $ 2,000,000,000 | ||||||||||
Senior note interest rate | 5.00% |
Debt Obligations (Debt Instrume
Debt Obligations (Debt Instruments) (Details) - USD ($) $ in Millions | 12 Months Ended | |||||
Dec. 31, 2019 | Jun. 30, 2019 | Mar. 31, 2019 | Jan. 31, 2019 | Jan. 01, 2019 | Dec. 31, 2018 | |
Long-term Debt | $ 50,346 | $ 40,508 | ||||
Other | 2 | 7 | ||||
Less: Current maturities of long-term debt | (12) | $ (2,656) | (2,655) | |||
Long-term debt, less current maturities | 50,334 | $ 37,859 | 37,853 | |||
ETO [Member] | ||||||
Unamortized premiums, discounts and fair value adjustments, net | (5) | 17 | ||||
Deferred Finance Costs, Noncurrent, Net | (207) | (178) | ||||
Long-term Debt | $ 42,120 | 32,288 | ||||
Debt instrument interest rate | 9.00% | |||||
Debt instrument maturity date | Nov. 1, 2024 | |||||
Transwestern [Member] | ||||||
Deferred Finance Costs, Noncurrent, Net | $ (1) | (1) | ||||
Long-term Debt | 574 | 574 | ||||
Panhandle [Member] | ||||||
Unamortized premiums, discounts and fair value adjustments, net | 11 | 14 | ||||
Long-term Debt | 246 | 399 | ||||
Debt instrument interest rate | 8.125% | |||||
Bakken Project [Member] | ||||||
Deferred Finance Costs, Noncurrent, Net | (16) | (3) | ||||
Long-term Debt | 2,481 | 2,497 | ||||
Sunoco LP [Member] | ||||||
Capital Lease Obligations | 135 | 107 | ||||
Deferred Finance Costs, Noncurrent, Net | (26) | (23) | ||||
Long-term Debt | 3,071 | 2,984 | ||||
USA Compression Partners, LP [Member] | ||||||
Revolving credit facilities | 403 | 1,050 | ||||
Deferred Finance Costs, Noncurrent, Net | (26) | (16) | ||||
Long-term Debt | 1,852 | 1,759 | ||||
6.875% Senior Notes due September 2027 [Member] | USA Compression Partners, LP [Member] | ||||||
Senior Notes | $ 750 | 0 | ||||
Debt instrument maturity date | Sep. 1, 2027 | |||||
Debt Instrument, Interest Rate, Effective Percentage | 6.875% | |||||
9.70% Senior Notes due March 15, 2019 | ETO [Member] | ||||||
Senior Notes | $ 0 | 400 | ||||
Debt instrument interest rate | 9.70% | 9.70% | ||||
Debt instrument maturity date | Mar. 15, 2019 | |||||
9.00% Senior Notes due April 15, 2019 | ETO [Member] | ||||||
Senior Notes | $ 0 | 450 | ||||
Debt instrument interest rate | 9.00% | 9.00% | ||||
Debt instrument maturity date | Apr. 15, 2019 | |||||
4.15% Senior Notes due October 1, 2020 | ETO [Member] | ||||||
Senior Notes | $ 1,050 | 1,050 | ||||
Debt instrument interest rate | 4.15% | |||||
Debt instrument maturity date | Oct. 1, 2020 | |||||
7.5% Senior Notes due October 15, 2020 [Member] | ETO [Member] | ||||||
Senior Notes | $ 1,135 | 0 | ||||
Debt instrument interest rate | 7.50% | |||||
Debt instrument maturity date | Oct. 15, 2020 | |||||
4.65% Senior Notes due June 1, 2021 | ETO [Member] | ||||||
Senior Notes | $ 800 | 800 | ||||
Debt instrument interest rate | 4.65% | |||||
Debt instrument maturity date | Jun. 1, 2021 | |||||
5.20% Senior Notes due February 1, 2022 | ETO [Member] | ||||||
Senior Notes | $ 1,000 | 1,000 | ||||
Debt instrument interest rate | 5.20% | |||||
Debt instrument maturity date | Feb. 1, 2022 | |||||
3.60% Senior Notes due February 1, 2023 | ETO [Member] | ||||||
Senior Notes | $ 800 | 800 | ||||
Debt instrument interest rate | 3.60% | |||||
Debt instrument maturity date | Feb. 1, 2023 | |||||
4.250% Senior Notes due 2023 | ETO [Member] | ||||||
Senior Notes | $ 995 | $ 995 | 0 | |||
Debt instrument interest rate | 4.25% | 4.25% | ||||
Debt instrument maturity date | Mar. 15, 2023 | |||||
4.20% Senior Notes due 2023 [Member] | ETO [Member] | ||||||
Senior Notes | $ 500 | 500 | ||||
Debt instrument interest rate | 4.20% | |||||
Debt instrument maturity date | Sep. 15, 2023 | |||||
4.90% Senior Notes due February 1, 2024 | ETO [Member] | ||||||
Senior Notes | $ 350 | 350 | ||||
Debt instrument interest rate | 4.90% | |||||
Debt instrument maturity date | Feb. 1, 2024 | |||||
7.60% Senior Notes due February 1, 2024 | ETO [Member] | ||||||
Senior Notes | $ 277 | 277 | ||||
Debt instrument interest rate | 7.60% | |||||
Debt instrument maturity date | Feb. 1, 2024 | |||||
7.60% Senior Notes due February 1, 2024 | Panhandle [Member] | ||||||
Senior Notes | $ 82 | 82 | ||||
Debt instrument interest rate | 7.60% | |||||
Debt instrument maturity date | Feb. 1, 2024 | |||||
5.875% Senior Notes due 2024 | ETO [Member] | ||||||
Senior Notes | $ 1,127 | $ 1,130 | 0 | |||
Debt instrument interest rate | 5.875% | 5.875% | ||||
Debt instrument maturity date | Jan. 15, 2024 | |||||
4.05% Senior Notes due March 15, 2025 | ETO [Member] | ||||||
Senior Notes | $ 1,000 | 1,000 | ||||
Debt instrument interest rate | 4.05% | |||||
Debt instrument maturity date | Mar. 15, 2025 | |||||
4.75% Senior Notes due January 15, 2026 | ETO [Member] | ||||||
Senior Notes | $ 1,000 | 1,000 | ||||
Debt instrument interest rate | 4.75% | |||||
Debt instrument maturity date | Jan. 15, 2026 | |||||
4.20% Senior Notes due April 2027 [Member] | ETO [Member] | ||||||
Senior Notes | $ 600 | 600 | ||||
Debt instrument interest rate | 4.20% | |||||
Debt instrument maturity date | Apr. 15, 2027 | |||||
5.500% Senior Notes due 2027 | ETO [Member] | ||||||
Senior Notes | $ 956 | $ 956 | 0 | |||
Debt instrument interest rate | 5.50% | 5.50% | ||||
Debt instrument maturity date | Jun. 1, 2027 | |||||
8.25% Senior Notes due November 15, 2029 | ETO [Member] | ||||||
Senior Notes | $ 267 | 267 | ||||
Debt instrument interest rate | 8.25% | |||||
Debt instrument maturity date | Nov. 15, 2029 | |||||
8.25% Senior Notes due November 15, 2029 | Panhandle [Member] | ||||||
Senior Notes | $ 33 | 33 | ||||
Debt instrument interest rate | 8.25% | |||||
Debt instrument maturity date | Nov. 14, 2029 | |||||
4.90% Senior Notes due March 15, 2035 | ETO [Member] | ||||||
Senior Notes | $ 500 | 500 | ||||
Debt instrument interest rate | 4.90% | |||||
Debt instrument maturity date | Mar. 15, 2035 | |||||
6.625% Senior Notes due October 15, 2036 | ETO [Member] | ||||||
Senior Notes | $ 400 | 400 | ||||
Debt instrument interest rate | 6.625% | |||||
Debt instrument maturity date | Oct. 15, 2036 | |||||
5.80% Senior Notes due 2038 [Member] | ETO [Member] | ||||||
Senior Notes | $ 500 | 500 | ||||
Debt instrument interest rate | 5.80% | |||||
Debt instrument maturity date | Jun. 15, 2038 | |||||
7.50% Senior Notes due July 1, 2038 | ETO [Member] | ||||||
Senior Notes | $ 550 | 550 | ||||
Debt instrument interest rate | 7.50% | |||||
Debt instrument maturity date | Jul. 1, 2038 | |||||
6.05% Senior Notes due June 1, 2041 | ETO [Member] | ||||||
Senior Notes | $ 700 | 700 | ||||
Debt instrument interest rate | 6.05% | |||||
Debt instrument maturity date | Jun. 1, 2041 | |||||
6.50% Senior Notes due February 1, 2042 | ETO [Member] | ||||||
Senior Notes | $ 1,000 | 1,000 | ||||
Debt instrument interest rate | 6.50% | |||||
Debt instrument maturity date | Feb. 1, 2042 | |||||
5.15% Senior Notes due February 1, 2043 | ETO [Member] | ||||||
Senior Notes | $ 450 | 450 | ||||
Debt instrument interest rate | 5.15% | |||||
Debt instrument maturity date | Feb. 1, 2043 | |||||
5.95% Senior Notes due October 1, 2043 | ETO [Member] | ||||||
Senior Notes | $ 450 | 450 | ||||
Debt instrument interest rate | 5.95% | |||||
Debt instrument maturity date | Oct. 1, 2043 | |||||
5.15% Senior Notes due March 15, 2045 | ETO [Member] | ||||||
Senior Notes | $ 1,000 | 1,000 | ||||
Debt instrument interest rate | 5.15% | |||||
Debt instrument maturity date | Mar. 15, 2045 | |||||
6.125% Senior Notes due December 15, 2045 | ETO [Member] | ||||||
Senior Notes | $ 1,000 | 1,000 | ||||
Debt instrument interest rate | 6.125% | |||||
Debt instrument maturity date | Dec. 15, 2045 | |||||
5.30% Senior Notes due April 2047 [Member] | ETO [Member] | ||||||
Senior Notes | $ 900 | 900 | ||||
Debt instrument interest rate | 5.30% | |||||
Debt instrument maturity date | Apr. 15, 2047 | |||||
Floating Rate Junior Subordinated Notes due November 1, 2066 | ETO [Member] | ||||||
Junior Subordinated Notes | $ 546 | 546 | ||||
Floating Rate Junior Subordinated Notes due November 1, 2066 | Panhandle [Member] | ||||||
Junior Subordinated Notes | 54 | 54 | ||||
ETO Term Loan [Member] | ETO [Member] | ||||||
Revolving credit facilities | 2,000 | 0 | ||||
3.625% Senior Notes due 2022 [Member] | Bakken Project [Member] | ||||||
Senior Notes | $ 650 | 0 | ||||
Debt instrument interest rate | 3.625% | |||||
Debt instrument maturity date | Apr. 1, 2022 | |||||
3.90% Senior Notes due 2024 [Member] | Bakken Project [Member] | ||||||
Senior Notes | $ 1,000 | 0 | ||||
Debt instrument interest rate | 3.90% | |||||
Debt instrument maturity date | Apr. 1, 2024 | |||||
4.625% Senior Notes due 2029 [Member] | Bakken Project [Member] | ||||||
Senior Notes | $ 850 | 0 | ||||
Debt instrument interest rate | 4.625% | |||||
Debt instrument maturity date | Apr. 1, 2029 | |||||
ETP Credit Facility due December 2022 [Member] | ETO [Member] | ||||||
Revolving credit facilities | $ 4,214 | 3,694 | ||||
5.36% Senior Notes due December 9, 2020 | Transwestern [Member] | ||||||
Senior Notes | $ 175 | 175 | ||||
Debt instrument interest rate | 5.36% | |||||
Debt instrument maturity date | Dec. 9, 2020 | |||||
5.89% Senior Notes due May 24, 2022 | Transwestern [Member] | ||||||
Senior Notes | $ 150 | 150 | ||||
Debt instrument interest rate | 5.89% | |||||
Debt instrument maturity date | May 24, 2022 | |||||
5.66% Senior Notes due December 9, 2024 | Transwestern [Member] | ||||||
Senior Notes | $ 175 | 175 | ||||
Debt instrument interest rate | 5.66% | |||||
Debt instrument maturity date | Dec. 9, 2024 | |||||
6.16% Senior Notes due May 24, 2037 | Transwestern [Member] | ||||||
Senior Notes | $ 75 | 75 | ||||
Debt instrument interest rate | 6.16% | |||||
Debt instrument maturity date | May 24, 2037 | |||||
8.125% Senior Notes due June 1, 2019 | Panhandle [Member] | ||||||
Senior Notes | $ 0 | 150 | ||||
Debt instrument interest rate | 8.125% | 8.125% | ||||
Debt instrument maturity date | Jun. 1, 2019 | |||||
7.00% Senior Notes due July 15, 2029 | Panhandle [Member] | ||||||
Senior Notes | $ 66 | 66 | ||||
Debt instrument interest rate | 7.00% | |||||
Debt instrument maturity date | Jul. 15, 2029 | |||||
9.00% Debentures due November 1, 2024 | ETO [Member] | ||||||
Subordinated Debt | $ 65 | 65 | ||||
5.50% Senior Notes due February 15, 2020 | ETO [Member] | ||||||
Senior Notes | $ 250 | 250 | ||||
Debt instrument interest rate | 5.50% | |||||
Debt instrument maturity date | Feb. 15, 2020 | |||||
4.40% Senior Notes due April 1, 2021 | ETO [Member] | ||||||
Senior Notes | $ 600 | 600 | ||||
Debt instrument interest rate | 4.40% | |||||
Debt instrument maturity date | Apr. 1, 2021 | |||||
4.65% Senior Notes due February 15, 2022 | ETO [Member] | ||||||
Senior Notes | $ 300 | 300 | ||||
Debt instrument interest rate | 4.65% | |||||
Debt instrument maturity date | Feb. 15, 2022 | |||||
3.45% Senior Notes due January 15, 2023 | ETO [Member] | ||||||
Senior Notes | $ 350 | 350 | ||||
Debt instrument interest rate | 3.45% | |||||
Debt instrument maturity date | Jan. 15, 2023 | |||||
4.25% Senior Notes due April 1, 2024 | ETO [Member] | ||||||
Senior Notes | $ 500 | 500 | ||||
Debt instrument interest rate | 4.25% | |||||
Debt instrument maturity date | Apr. 1, 2024 | |||||
4.5% Senior Notes due 2024 [Member] | ETO [Member] | ||||||
Senior Notes | $ 750 | $ 750 | 0 | |||
Debt instrument interest rate | 4.50% | 4.50% | ||||
Debt instrument maturity date | Apr. 15, 2024 | |||||
5.95% Senior Notes due December 1, 2025 | ETO [Member] | ||||||
Senior Notes | $ 400 | 400 | ||||
Debt instrument interest rate | 5.95% | |||||
Debt instrument maturity date | Dec. 1, 2025 | |||||
3.90% Senior Notes due July 15, 2026 | ETO [Member] | ||||||
Senior Notes | $ 550 | 550 | ||||
Debt instrument interest rate | 3.90% | |||||
Debt instrument maturity date | Jul. 15, 2026 | |||||
4.00% Senior Notes due October 1, 2027 [Member] | ETO [Member] | ||||||
Senior Notes | $ 750 | 750 | ||||
Debt instrument interest rate | 4.00% | |||||
Debt instrument maturity date | Oct. 1, 2027 | |||||
4.95% Senior Notes due 2028 [Member] | ETO [Member] | ||||||
Senior Notes | $ 1,000 | 1,000 | ||||
Debt instrument interest rate | 4.95% | |||||
Debt instrument maturity date | Jun. 15, 2028 | |||||
5.25% Senior Notes due 2029 [Member] | ETO [Member] | ||||||
Senior Notes | $ 1,500 | $ 1,500 | 0 | |||
Debt instrument interest rate | 5.25% | 5.25% | ||||
Debt instrument maturity date | Apr. 15, 2029 | |||||
6.85% Senior Notes due February 15, 2040 | ETO [Member] | ||||||
Senior Notes | $ 250 | 250 | ||||
Debt instrument interest rate | 6.85% | |||||
Debt instrument maturity date | Feb. 15, 2040 | |||||
6.10% Senior Notes due February 15, 2042 | ETO [Member] | ||||||
Senior Notes | $ 300 | 300 | ||||
Debt instrument interest rate | 6.10% | |||||
Debt instrument maturity date | Feb. 15, 2042 | |||||
4.95% Senior Notes due January 15, 2043 | ETO [Member] | ||||||
Senior Notes | $ 350 | 350 | ||||
Debt instrument interest rate | 4.95% | |||||
Debt instrument maturity date | Jan. 15, 2043 | |||||
5.30% Senior Notes due April 1, 2044 | ETO [Member] | ||||||
Senior Notes | $ 700 | 700 | ||||
Debt instrument interest rate | 5.30% | |||||
Debt instrument maturity date | Apr. 1, 2044 | |||||
5.35% Senior Notes due May 15, 2045 | ETO [Member] | ||||||
Senior Notes | $ 800 | 800 | ||||
Debt instrument interest rate | 5.35% | |||||
Debt instrument maturity date | May 15, 2045 | |||||
5.40% Senior Notes due October 1, 2047 [Member] | ETO [Member] | ||||||
Senior Notes | $ 1,500 | 1,500 | ||||
Debt instrument interest rate | 5.40% | |||||
Debt instrument maturity date | Oct. 1, 2047 | |||||
6.0% Senior Notes due 2048 [Member] | ETO [Member] | ||||||
Senior Notes | $ 1,000 | 1,000 | ||||
Debt instrument interest rate | 6.00% | |||||
Debt instrument maturity date | Jun. 15, 2048 | |||||
6.25% Senior Notes due 2049 [Member] | ETO [Member] | ||||||
Senior Notes | $ 1,750 | $ 1,750 | 0 | |||
Debt instrument interest rate | 6.25% | 6.25% | ||||
Debt instrument maturity date | Apr. 15, 2049 | |||||
5.75% Senior Notes due September 1, 2020 | ETO [Member] | ||||||
Senior Notes | $ 400 | 400 | ||||
Debt instrument interest rate | 5.75% | |||||
Debt instrument maturity date | Sep. 1, 2020 | |||||
5.875% Senior Notes due March 1, 2022 | ETO [Member] | ||||||
Senior Notes | $ 900 | 900 | ||||
Debt instrument interest rate | 5.875% | |||||
Debt instrument maturity date | Mar. 1, 2022 | |||||
5.00% Senior Notes due October 1, 2022 | ETO [Member] | ||||||
Senior Notes | $ 700 | 700 | ||||
Debt instrument interest rate | 5.00% | |||||
Debt instrument maturity date | Oct. 1, 2022 | |||||
4.50% Senior Notes due November 1, 2023 | ETO [Member] | ||||||
Senior Notes | $ 600 | 600 | ||||
Debt instrument interest rate | 4.50% | |||||
Debt instrument maturity date | Nov. 1, 2023 | |||||
Sunoco Logistics $1.0 billion 364-day Credit Facility due December 2017 [Member] | ETO [Member] | ||||||
Revolving credit facilities | $ 0 | |||||
Bakken Project $2.50 billion Credit Facility due August 2019 [Member] | Bakken Project [Member] | ||||||
Revolving credit facilities | 0 | 2,500 | ||||
Unamortized premiums, discounts and fair value adjustments, net | (3) | 0 | ||||
4.875% senior notes due 2023 [Member] | Sunoco LP [Member] | ||||||
Senior Notes | $ 1,000 | 1,000 | ||||
Debt instrument maturity date | Jan. 15, 2023 | |||||
Debt Instrument, Interest Rate, Effective Percentage | 4.875% | |||||
5.500% senior notes due 2026 [Member] | Sunoco LP [Member] | ||||||
Senior Notes | $ 800 | 800 | ||||
Debt instrument maturity date | Feb. 15, 2026 | |||||
Debt Instrument, Interest Rate, Effective Percentage | 5.50% | |||||
6.00% Senior Notes due April 15, 2027 [Member] | Sunoco LP [Member] | ||||||
Senior Notes | $ 600 | 0 | ||||
5.875% senior notes due 2028 [Member] | Sunoco LP [Member] | ||||||
Senior Notes | $ 400 | 400 | ||||
Debt instrument maturity date | Apr. 15, 2027 | |||||
Debt Instrument, Interest Rate, Effective Percentage | 6.00% | |||||
5.5% Senior Notes due August 2020 [Member] | Sunoco LP [Member] | ||||||
Debt instrument maturity date | Mar. 15, 2028 | |||||
Debt Instrument, Interest Rate, Effective Percentage | 5.875% | |||||
Sunoco LP $1.5 billion Revolving Credit Facility due July 2023 [Member] | Sunoco LP [Member] | ||||||
Revolving credit facilities | $ 162 | $ 700 |
Debt Obligations Debt Instrumen
Debt Obligations Debt Instruments (Parenthetical) (Details) - USD ($) $ in Millions | 12 Months Ended | ||||
Dec. 31, 2019 | Jun. 30, 2019 | Mar. 31, 2019 | Jan. 31, 2019 | Dec. 31, 2018 | |
ETO [Member] | |||||
Senior note interest rate | 9.00% | ||||
Debt instrument maturity date | Nov. 1, 2024 | ||||
Deferred Finance Costs, Noncurrent, Net | $ 207 | $ 178 | |||
Transwestern [Member] | |||||
Deferred Finance Costs, Noncurrent, Net | 1 | 1 | |||
Panhandle [Member] | |||||
Senior note interest rate | 8.125% | ||||
Bakken Project [Member] | |||||
Deferred Finance Costs, Noncurrent, Net | 16 | 3 | |||
Sunoco LP [Member] | |||||
Deferred Finance Costs, Noncurrent, Net | 26 | 23 | |||
USA Compression Partners, LP [Member] | |||||
Deferred Finance Costs, Noncurrent, Net | $ 26 | $ 16 | |||
4.25% Senior Notes due April 1, 2024 | ETO [Member] | |||||
Senior note interest rate | 4.25% | ||||
Debt instrument maturity date | Apr. 1, 2024 | ||||
4.5% Senior Notes due 2024 [Member] | ETO [Member] | |||||
Senior note interest rate | 4.50% | 4.50% | |||
Debt instrument maturity date | Apr. 15, 2024 | ||||
5.95% Senior Notes due December 1, 2025 | ETO [Member] | |||||
Senior note interest rate | 5.95% | ||||
Debt instrument maturity date | Dec. 1, 2025 | ||||
3.90% Senior Notes due July 15, 2026 | ETO [Member] | |||||
Senior note interest rate | 3.90% | ||||
Debt instrument maturity date | Jul. 15, 2026 | ||||
4.00% Senior Notes due October 1, 2027 [Member] | ETO [Member] | |||||
Senior note interest rate | 4.00% | ||||
Debt instrument maturity date | Oct. 1, 2027 | ||||
4.95% Senior Notes due 2028 [Member] | ETO [Member] | |||||
Senior note interest rate | 4.95% | ||||
Debt instrument maturity date | Jun. 15, 2028 | ||||
5.25% Senior Notes due 2029 [Member] | ETO [Member] | |||||
Senior note interest rate | 5.25% | 5.25% | |||
Debt instrument maturity date | Apr. 15, 2029 | ||||
6.85% Senior Notes due February 15, 2040 | ETO [Member] | |||||
Senior note interest rate | 6.85% | ||||
Debt instrument maturity date | Feb. 15, 2040 | ||||
5.35% Senior Notes due May 15, 2045 | ETO [Member] | |||||
Senior note interest rate | 5.35% | ||||
Debt instrument maturity date | May 15, 2045 | ||||
9.70% Senior Notes due March 15, 2019 | ETO [Member] | |||||
Senior note interest rate | 9.70% | 9.70% | |||
Debt instrument maturity date | Mar. 15, 2019 | ||||
9.00% Senior Notes due April 15, 2019 | ETO [Member] | |||||
Senior note interest rate | 9.00% | 9.00% | |||
Debt instrument maturity date | Apr. 15, 2019 | ||||
5.75% Senior Notes due September 1, 2020 | ETO [Member] | |||||
Senior note interest rate | 5.75% | ||||
Debt instrument maturity date | Sep. 1, 2020 | ||||
4.15% Senior Notes due October 1, 2020 [Member] | ETO [Member] | |||||
Senior note interest rate | 4.15% | ||||
Debt instrument maturity date | Oct. 1, 2020 | ||||
7.5% Senior Notes due October 15, 2020 [Member] | ETO [Member] | |||||
Senior note interest rate | 7.50% | ||||
Debt instrument maturity date | Oct. 15, 2020 | ||||
4.65% Senior Notes due June 1, 2021 | ETO [Member] | |||||
Senior note interest rate | 4.65% | ||||
Debt instrument maturity date | Jun. 1, 2021 | ||||
5.20% Senior Notes due February 1, 2022 | ETO [Member] | |||||
Senior note interest rate | 5.20% | ||||
Debt instrument maturity date | Feb. 1, 2022 | ||||
5.875% Senior Notes due March 1, 2022 | ETO [Member] | |||||
Senior note interest rate | 5.875% | ||||
Debt instrument maturity date | Mar. 1, 2022 | ||||
5.00% Senior Notes due October 1, 2022 | ETO [Member] | |||||
Senior note interest rate | 5.00% | ||||
Debt instrument maturity date | Oct. 1, 2022 | ||||
3.60% Senior Notes due February 1, 2023 | ETO [Member] | |||||
Senior note interest rate | 3.60% | ||||
Debt instrument maturity date | Feb. 1, 2023 | ||||
4.250% Senior Notes due 2023 | ETO [Member] | |||||
Senior note interest rate | 4.25% | 4.25% | |||
Debt instrument maturity date | Mar. 15, 2023 | ||||
4.20% Senior Notes due 2023 [Member] | ETO [Member] | |||||
Senior note interest rate | 4.20% | ||||
Debt instrument maturity date | Sep. 15, 2023 | ||||
4.50% Senior Notes due November 1, 2023 | ETO [Member] | |||||
Senior note interest rate | 4.50% | ||||
Debt instrument maturity date | Nov. 1, 2023 | ||||
4.90% Senior Notes due February 1, 2024 | ETO [Member] | |||||
Senior note interest rate | 4.90% | ||||
Debt instrument maturity date | Feb. 1, 2024 | ||||
7.60% Senior Notes due February 1, 2024 | ETO [Member] | |||||
Senior note interest rate | 7.60% | ||||
Debt instrument maturity date | Feb. 1, 2024 | ||||
7.60% Senior Notes due February 1, 2024 | Panhandle [Member] | |||||
Senior note interest rate | 7.60% | ||||
Debt instrument maturity date | Feb. 1, 2024 | ||||
5.875% Senior Notes due 2024 | ETO [Member] | |||||
Senior note interest rate | 5.875% | 5.875% | |||
Debt instrument maturity date | Jan. 15, 2024 | ||||
4.05% Senior Notes due March 15, 2025 | ETO [Member] | |||||
Senior note interest rate | 4.05% | ||||
Debt instrument maturity date | Mar. 15, 2025 | ||||
4.75% Senior Notes due January 15, 2026 | ETO [Member] | |||||
Senior note interest rate | 4.75% | ||||
Debt instrument maturity date | Jan. 15, 2026 | ||||
4.20% Senior Notes due April 2027 [Member] | ETO [Member] | |||||
Senior note interest rate | 4.20% | ||||
Debt instrument maturity date | Apr. 15, 2027 | ||||
5.500% Senior Notes due 2027 | ETO [Member] | |||||
Senior note interest rate | 5.50% | 5.50% | |||
Debt instrument maturity date | Jun. 1, 2027 | ||||
8.25% Senior Notes due November 15, 2029 | ETO [Member] | |||||
Senior note interest rate | 8.25% | ||||
Debt instrument maturity date | Nov. 15, 2029 | ||||
8.25% Senior Notes due November 15, 2029 | Panhandle [Member] | |||||
Senior note interest rate | 8.25% | ||||
Debt instrument maturity date | Nov. 14, 2029 | ||||
3.625% Senior Notes due 2022 [Member] | Bakken Project [Member] | |||||
Senior note interest rate | 3.625% | ||||
Debt instrument maturity date | Apr. 1, 2022 | ||||
3.90% Senior Notes due 2024 [Member] | Bakken Project [Member] | |||||
Senior note interest rate | 3.90% | ||||
Debt instrument maturity date | Apr. 1, 2024 | ||||
4.625% Senior Notes due 2029 [Member] | Bakken Project [Member] | |||||
Senior note interest rate | 4.625% | ||||
Debt instrument maturity date | Apr. 1, 2029 | ||||
6.625% Senior Notes due October 15, 2036 | ETO [Member] | |||||
Senior note interest rate | 6.625% | ||||
Debt instrument maturity date | Oct. 15, 2036 | ||||
5.80% Senior Notes due 2038 [Member] | ETO [Member] | |||||
Senior note interest rate | 5.80% | ||||
Debt instrument maturity date | Jun. 15, 2038 | ||||
4.90% Senior Notes due March 15, 2035 | ETO [Member] | |||||
Senior note interest rate | 4.90% | ||||
Debt instrument maturity date | Mar. 15, 2035 | ||||
7.50% Senior Notes due July 1, 2038 | ETO [Member] | |||||
Senior note interest rate | 7.50% | ||||
Debt instrument maturity date | Jul. 1, 2038 | ||||
6.05% Senior Notes due June 1, 2041 | ETO [Member] | |||||
Senior note interest rate | 6.05% | ||||
Debt instrument maturity date | Jun. 1, 2041 | ||||
6.50% Senior Notes due February 1, 2042 | ETO [Member] | |||||
Senior note interest rate | 6.50% | ||||
Debt instrument maturity date | Feb. 1, 2042 | ||||
5.15% Senior Notes due February 1, 2043 | ETO [Member] | |||||
Senior note interest rate | 5.15% | ||||
Debt instrument maturity date | Feb. 1, 2043 | ||||
5.95% Senior Notes due October 1, 2043 | ETO [Member] | |||||
Senior note interest rate | 5.95% | ||||
Debt instrument maturity date | Oct. 1, 2043 | ||||
5.30% Senior Notes due April 1, 2044 | ETO [Member] | |||||
Senior note interest rate | 5.30% | ||||
Debt instrument maturity date | Apr. 1, 2044 | ||||
5.15% Senior Notes due March 15, 2045 | ETO [Member] | |||||
Senior note interest rate | 5.15% | ||||
Debt instrument maturity date | Mar. 15, 2045 | ||||
6.125% Senior Notes due December 15, 2045 | ETO [Member] | |||||
Senior note interest rate | 6.125% | ||||
Debt instrument maturity date | Dec. 15, 2045 | ||||
5.30% Senior Notes due April 2047 [Member] | ETO [Member] | |||||
Senior note interest rate | 5.30% | ||||
Debt instrument maturity date | Apr. 15, 2047 | ||||
4.875% senior notes due 2023 [Member] | Sunoco LP [Member] | |||||
Debt instrument maturity date | Jan. 15, 2023 | ||||
Debt Instrument, Interest Rate, Effective Percentage | 4.875% | ||||
5.500% senior notes due 2026 [Member] | Sunoco LP [Member] | |||||
Debt instrument maturity date | Feb. 15, 2026 | ||||
Debt Instrument, Interest Rate, Effective Percentage | 5.50% | ||||
5.875% senior notes due 2028 [Member] | Sunoco LP [Member] | |||||
Debt instrument maturity date | Apr. 15, 2027 | ||||
Debt Instrument, Interest Rate, Effective Percentage | 6.00% | ||||
5.36% Senior Notes due December 9, 2020 | Transwestern [Member] | |||||
Senior note interest rate | 5.36% | ||||
Debt instrument maturity date | Dec. 9, 2020 | ||||
5.89% Senior Notes due May 24, 2022 | Transwestern [Member] | |||||
Senior note interest rate | 5.89% | ||||
Debt instrument maturity date | May 24, 2022 | ||||
5.66% Senior Notes due December 9, 2024 | Transwestern [Member] | |||||
Senior note interest rate | 5.66% | ||||
Debt instrument maturity date | Dec. 9, 2024 | ||||
6.16% Senior Notes due May 24, 2037 | Transwestern [Member] | |||||
Senior note interest rate | 6.16% | ||||
Debt instrument maturity date | May 24, 2037 | ||||
8.125% Senior Notes due June 1, 2019 | Panhandle [Member] | |||||
Senior note interest rate | 8.125% | 8.125% | |||
Debt instrument maturity date | Jun. 1, 2019 | ||||
7.00% Senior Notes due July 15, 2029 | Panhandle [Member] | |||||
Senior note interest rate | 7.00% | ||||
Debt instrument maturity date | Jul. 15, 2029 | ||||
5.50% Senior Notes due February 15, 2020 | ETO [Member] | |||||
Senior note interest rate | 5.50% | ||||
Debt instrument maturity date | Feb. 15, 2020 | ||||
4.40% Senior Notes due April 1, 2021 | ETO [Member] | |||||
Senior note interest rate | 4.40% | ||||
Debt instrument maturity date | Apr. 1, 2021 | ||||
4.65% Senior Notes due February 15, 2022 | ETO [Member] | |||||
Senior note interest rate | 4.65% | ||||
Debt instrument maturity date | Feb. 15, 2022 | ||||
3.45% Senior Notes due January 15, 2023 | ETO [Member] | |||||
Senior note interest rate | 3.45% | ||||
Debt instrument maturity date | Jan. 15, 2023 | ||||
6.10% Senior Notes due February 15, 2042 | ETO [Member] | |||||
Senior note interest rate | 6.10% | ||||
Debt instrument maturity date | Feb. 15, 2042 | ||||
4.95% Senior Notes due January 15, 2043 | ETO [Member] | |||||
Senior note interest rate | 4.95% | ||||
Debt instrument maturity date | Jan. 15, 2043 | ||||
5.40% Senior Notes due October 1, 2047 [Member] | ETO [Member] | |||||
Senior note interest rate | 5.40% | ||||
Debt instrument maturity date | Oct. 1, 2047 | ||||
6.0% Senior Notes due 2048 [Member] | ETO [Member] | |||||
Senior note interest rate | 6.00% | ||||
Debt instrument maturity date | Jun. 15, 2048 | ||||
6.25% Senior Notes due 2049 [Member] | ETO [Member] | |||||
Senior note interest rate | 6.25% | 6.25% | |||
Debt instrument maturity date | Apr. 15, 2049 | ||||
5.5% Senior Notes due August 2020 [Member] | Sunoco LP [Member] | |||||
Debt instrument maturity date | Mar. 15, 2028 | ||||
Debt Instrument, Interest Rate, Effective Percentage | 5.875% | ||||
6.875% Senior notes due April 2026 [Member] | USA Compression Partners, LP [Member] | |||||
Debt instrument maturity date | Apr. 1, 2026 | ||||
Debt Instrument, Interest Rate, Effective Percentage | 6.875% | ||||
6.875% Senior Notes due September 2027 [Member] | USA Compression Partners, LP [Member] | |||||
Debt instrument maturity date | Sep. 1, 2027 | ||||
Debt Instrument, Interest Rate, Effective Percentage | 6.875% |
Debt Obligations (Future maturi
Debt Obligations (Future maturities of long-term debt) (Details) - USD ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
Debt Obligations [Abstract] | ||
2019 | $ 3,021 | |
2020 | 1,412 | |
2021 | 5,792 | |
2022 | 8,960 | |
2023 | 4,337 | |
Thereafter | 27,097 | |
Long-term Debt | 50,346 | $ 40,508 |
Long-term Debt, Gross | $ 50,619 |
Redeemable Noncontrolling Int_2
Redeemable Noncontrolling Interest (Details) - USD ($) $ / shares in Units, $ in Millions | 1 Months Ended | 12 Months Ended | |||
Apr. 30, 2018 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | Apr. 02, 2018 | |
Redeemable noncontrolling interests | $ 492 | $ 499 | |||
Payments for Repurchase of Preferred Stock and Preference Stock | 0 | 0 | $ 53 | ||
Preferred units issued for cash | 780 | $ 867 | $ 1,479 | ||
USAC [Member] | |||||
Redeemable noncontrolling interests | 477 | ||||
ETO [Member] | |||||
Redeemable noncontrolling interests | $ 15 | ||||
Preferred Units [Member] | USAC [Member] | |||||
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 | ||||
Preferred Stock, Redemption Terms | In addition, at any time on or after the tenth anniversary of the issue date, the holders of the USAC Preferred Units will have the right to require USAC to redeem all or any portion of the USAC Preferred Units, and the Partnership may elect to pay up to 50% of such redemption amount in USAC common units. |
Equity (Narrative) (Details)
Equity (Narrative) (Details) $ / shares in Units, $ in Millions | Jan. 01, 2020 | Jul. 31, 2019shares | Apr. 30, 2019$ / sharesshares | Jul. 31, 2018$ / shares | Apr. 30, 2018USD ($)$ / sharesshares | Feb. 28, 2018USD ($)shares | Jan. 31, 2018USD ($) | Nov. 30, 2017$ / sharesshares | Apr. 30, 2017 | Feb. 28, 2017 | Mar. 31, 2017USD ($)$ / sharesshares | Dec. 31, 2016$ / shares | Dec. 31, 2019USD ($)shares | Dec. 31, 2018USD ($)shares | Dec. 31, 2017USD ($) | Jan. 31, 2020$ / sharesshares | Jul. 30, 2019shares | Apr. 02, 2018$ / sharesshares | Jun. 30, 2017$ / shares | Feb. 01, 2017 |
Common units issued for cash | $ | $ 0 | $ 58 | $ 2,283 | |||||||||||||||||
Partners' Capital Account, Sale of Units | $ | 780 | 925 | 3,762 | |||||||||||||||||
Payments for Repurchase of Common Stock | $ | 0 | 24 | 0 | |||||||||||||||||
Payments for Repurchase of Preferred Stock and Preference Stock | $ | $ 0 | 0 | 53 | |||||||||||||||||
PennTex [Member] | ||||||||||||||||||||
Sale of Stock, Price Per Share | $ / shares | $ 20 | |||||||||||||||||||
Sunoco LP [Member] | ||||||||||||||||||||
Number of common units of a subsidiary partnership that are held by a wholly-owned subsidiary of the Parent. | 28,500,000 | |||||||||||||||||||
Stock Repurchased During Period, Shares | 17,286,859 | |||||||||||||||||||
Payments for Repurchase of Common Stock | $ | $ 540 | $ 0 | $ 300 | 0 | ||||||||||||||||
USAC [Member] | ||||||||||||||||||||
Number of common units of a subsidiary partnership that are held by a wholly-owned subsidiary of the Parent. | 39,700,000 | 46,100,000 | ||||||||||||||||||
Limited Partners' Capital Account, Units Outstanding | 96,600,000 | |||||||||||||||||||
Stock Issued During Period, Value, Dividend Reinvestment Plan | $ | $ 1 | $ 0.6 | ||||||||||||||||||
Stock Issued During Period, Shares, Dividend Reinvestment Plan | 60,584 | 39,280 | ||||||||||||||||||
Accumulated Other Comprehensive Income (Loss) | ||||||||||||||||||||
Partners' Capital Account, Sale of Units | $ | $ 0 | $ 0 | $ 0 | |||||||||||||||||
SXL and ETP Merger [Member] | ||||||||||||||||||||
Conversion Rate of Units in Merger, Per Unit | 1.5 | |||||||||||||||||||
USAC Transaction [Member] | ||||||||||||||||||||
Business Combination, Consideration Transferred | $ | $ 1,700 | |||||||||||||||||||
USAC Transaction [Member] | USA Compression Partners, LP [Member] | ||||||||||||||||||||
Sale of Stock, Number of Shares Issued in Transaction | 19,191,351 | |||||||||||||||||||
Class K Units [Member] | ||||||||||||||||||||
Number of common units of a subsidiary partnership that are held by a wholly-owned subsidiary of the Parent. | 101,500,000 | |||||||||||||||||||
Distribution Made to Limited Partner, Distributions Declared, Per Unit | $ / shares | $ 0.67275 | |||||||||||||||||||
Cash Distributions, Percent | 1.50% | |||||||||||||||||||
Class L Units [Member] | ||||||||||||||||||||
Cash Distributions, Percent | 7.65% | |||||||||||||||||||
Class M Units [Member] | ||||||||||||||||||||
Preferred Stock, Dividend Rate, Percentage | 8.00% | |||||||||||||||||||
Series A Preferred Units [Member] | ||||||||||||||||||||
Preferred Stock, Shares Issued | 950,000 | |||||||||||||||||||
Preferred Stock, Dividend Rate, Percentage | 6.25% | |||||||||||||||||||
Shares Issued, Price Per Share | $ / shares | $ 1,000 | |||||||||||||||||||
Preferred Units, Issued | 950,000 | 950,000 | ||||||||||||||||||
Preferred Units, Liquidation Spread, Percent | 4.028% | |||||||||||||||||||
Preferred Units, Outstanding | 950,000 | 950,000 | ||||||||||||||||||
Series A Preferred Units [Member] | Sunoco LP [Member] | ||||||||||||||||||||
Preferred Stock, Dividend Rate, Percentage | 10.00% | |||||||||||||||||||
Preferred Stock, Liquidation Preference Per Share | $ / shares | $ 25 | |||||||||||||||||||
Preferred Units, Liquidation Spread, Percent | 8.00% | |||||||||||||||||||
Preferred Stock Redemption Premium | $ | $ 313 | |||||||||||||||||||
Stock Repurchased and Retired During Period, Shares | 12,000,000 | |||||||||||||||||||
Call premium on preferred units. | 1.00% | |||||||||||||||||||
Payments for Repurchase of Preferred Stock and Preference Stock | $ | $ 300 | $ 300 | ||||||||||||||||||
Series C Preferred Units | ||||||||||||||||||||
Preferred Stock, Shares Issued | 18,000,000 | |||||||||||||||||||
Preferred Stock, Dividend Rate, Percentage | 7.375% | |||||||||||||||||||
Shares Issued, Price Per Share | $ / shares | $ 25 | |||||||||||||||||||
Preferred Units, Issued | 18,000,000 | 18,000,000 | ||||||||||||||||||
Preferred Units, Liquidation Spread, Percent | 4.53% | |||||||||||||||||||
Preferred Stock, Redemption Price Per Share | $ / shares | $ 25 | |||||||||||||||||||
Preferred Units, Outstanding | 18,000,000 | 18,000,000 | ||||||||||||||||||
Series B Preferred Units [Member] | ||||||||||||||||||||
Preferred Stock, Shares Issued | 550,000 | |||||||||||||||||||
Preferred Stock, Dividend Rate, Percentage | 6.625% | |||||||||||||||||||
Shares Issued, Price Per Share | $ / shares | $ 1,000 | |||||||||||||||||||
Preferred Units, Issued | 550,000 | 550,000 | ||||||||||||||||||
Preferred Units, Liquidation Spread, Percent | 4.155% | |||||||||||||||||||
Preferred Units, Outstanding | 550,000 | 550,000 | ||||||||||||||||||
Series D Preferred Units | ||||||||||||||||||||
Preferred Stock, Dividend Rate, Percentage | 7.625% | |||||||||||||||||||
Shares Issued, Price Per Share | $ / shares | $ 25 | $ 25 | ||||||||||||||||||
Preferred Units, Issued | 17,800,000 | 17,800,000 | ||||||||||||||||||
Preferred Stock, Liquidation Preference Per Share | $ / shares | $ 17,800,000 | |||||||||||||||||||
Preferred Units, Liquidation Spread, Percent | 4.738% | |||||||||||||||||||
Preferred Stock, Redemption Price Per Share | $ / shares | $ 25 | |||||||||||||||||||
Preferred Units, Outstanding | 17,800,000 | 17,800,000 | ||||||||||||||||||
Series E Preferred Units [Member] | ||||||||||||||||||||
Preferred Stock, Dividend Rate, Percentage | 7.60% | |||||||||||||||||||
Shares Issued, Price Per Share | $ / shares | $ 25 | |||||||||||||||||||
Preferred Units, Issued | 32,000,000 | 0 | ||||||||||||||||||
Preferred Units, Liquidation Spread, Percent | 5.161% | |||||||||||||||||||
Preferred Stock, Redemption Price Per Share | $ / shares | $ 25 | |||||||||||||||||||
Preferred Units, Outstanding | 32,000,000 | 32,000,000 | 0 | |||||||||||||||||
Class B Units [Member] | USAC [Member] | ||||||||||||||||||||
Number of common units of a subsidiary partnership that are held by a wholly-owned subsidiary of the Parent. | 6,400,000 | |||||||||||||||||||
Partners' Capital Account, Units, Converted | 6,397,965 | |||||||||||||||||||
Class B Units [Member] | USAC Transaction [Member] | USA Compression Partners, LP [Member] | ||||||||||||||||||||
Sale of Stock, Number of Shares Issued in Transaction | 6,397,965 | |||||||||||||||||||
USAC [Member] | ||||||||||||||||||||
Stock Issued During Period, Shares, Conversion of Units | 6,397,965 | |||||||||||||||||||
Dakota Access and ETCO [Member] | Phillips 66 Company [Member] | ||||||||||||||||||||
Subsidiary of Limited Liability Company or Limited Partnership, Ownership Interest | 25.00% | |||||||||||||||||||
Dakota Access and ETCO [Member] | Bakken Pipeline Investments LLC [Member] | ||||||||||||||||||||
Subsidiary of Limited Liability Company or Limited Partnership, Ownership Interest | 75.00% | |||||||||||||||||||
Bakken Pipeline Investments LLC [Member] | Bakken Holdings Company LLC [Member] | ||||||||||||||||||||
Business Acquisition, Percentage of Voting Interests Acquired | 200000000000.00% | |||||||||||||||||||
Sunoco Logistics [Member] | Bakken Holdings Company LLC [Member] | ||||||||||||||||||||
Subsidiary of Limited Liability Company or Limited Partnership, Ownership Interest | 49.00% | |||||||||||||||||||
ET | USAC Transaction [Member] | USA Compression Partners, LP [Member] | ||||||||||||||||||||
Sale of Stock, Number of Shares Issued in Transaction | 12,466,912 | |||||||||||||||||||
Strike price of $17.03 [Member] | USAC [Member] | ||||||||||||||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights | 5,000,000 | |||||||||||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ / shares | $ 17.03 | |||||||||||||||||||
Strike price of $19.59 [Member] | USAC [Member] | ||||||||||||||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights | 10,000,000 | |||||||||||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ / shares | $ 19.59 | |||||||||||||||||||
Equity Distribution Program [Member] | Sunoco LP [Member] | ||||||||||||||||||||
Common units issued for cash | $ | $ 33 | |||||||||||||||||||
Payments for Commissions | $ | $ 0.3 | |||||||||||||||||||
Partners' Capital Account, Units, Sale of Units | 0 | 1,300,000 | ||||||||||||||||||
Equity Distribution Agreements, Value of Units Available to be Issued | $ | $ 295 | |||||||||||||||||||
Subsequent Event [Member] | Series G Preferred Units [Member] | ||||||||||||||||||||
Preferred Stock, Dividend Rate, Percentage | 7.125% | |||||||||||||||||||
Shares Issued, Price Per Share | $ / shares | $ 1,000 | |||||||||||||||||||
Preferred Units, Issued | 1,100,000 | |||||||||||||||||||
Preferred Units, Liquidation Spread, Percent | 5.306% | |||||||||||||||||||
Subsequent Event [Member] | Series F Preferred Units [Member] | ||||||||||||||||||||
Preferred Stock, Dividend Rate, Percentage | 6.75% | |||||||||||||||||||
Shares Issued, Price Per Share | $ / shares | $ 1,000 | |||||||||||||||||||
Preferred Units, Issued | 500,000 | |||||||||||||||||||
Preferred Units, Liquidation Spread, Percent | 5.134% |
Equity (Accumulated other compr
Equity (Accumulated other comprehensive income, net of tax) (Details) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Equity [Abstract] | ||
AOCI, Debt Securities, Available-for-sale, Adjustment, after Tax | $ 13 | $ 2 |
Foreign currency translation adjustment | (5) | (5) |
Actuarial gain (loss) related to pensions and other postretirement benefits | (25) | (48) |
AOCI attributable to equity method investments | (1) | 9 |
Total AOCI, net of tax | $ (18) | $ (42) |
Equity (Tax amounts attributabl
Equity (Tax amounts attributable to Accumulated Other Comprehensive Income) (Details) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Equity [Abstract] | ||
Other Comprehensive Income (Loss), Securities, Available-for-sale, Tax | $ (1) | $ (1) |
Other Comprehensive Income (Loss), Foreign Currency Translation Adjustment, Tax | 2 | 2 |
Other Comprehensive Income (Loss), Defined Benefit Plan, Gain (Loss) Arising During Period, Tax | 8 | 12 |
Other Comprehensive Income (Loss), Tax | $ 9 | $ 13 |
Equity Distribution Targets (De
Equity Distribution Targets (Details) | 3 Months Ended |
Dec. 31, 2018 | |
Minimum Quarterly Distribution [Member] | |
Distribution Payment Targets | Â $0.4375 |
Minimum Quarterly Distribution [Member] | IDRs [Member] | |
Distribution Payment Targets | —% |
First Target Distribution [Member] | |
Distribution Payment Targets | $0.4375 to $0.503125 |
First Target Distribution [Member] | IDRs [Member] | |
Distribution Payment Targets | —% |
Second Target Distribution [Member] | |
Distribution Payment Targets | $0.503125 to $0.546875 |
Second Target Distribution [Member] | IDRs [Member] | |
Distribution Payment Targets | 15% |
Third Target Distribution [Member] | |
Distribution Payment Targets | $0.546875 to $0.656250 |
Third Target Distribution [Member] | IDRs [Member] | |
Distribution Payment Targets | 25% |
Thereafter [Member] | |
Distribution Payment Targets | Above $0.656250 |
Thereafter [Member] | IDRs [Member] | |
Distribution Payment Targets | 50% |
Equity Distributions on Preferr
Equity Distributions on Preferred Units (Details) - USD ($) $ / shares in Units, $ in Millions | 3 Months Ended | 12 Months Ended | |||||||||||||||
Dec. 31, 2019 | Sep. 30, 2019 | Jun. 30, 2019 | Mar. 31, 2019 | Dec. 31, 2018 | Sep. 30, 2018 | Jun. 30, 2018 | Dec. 31, 2017 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | ||||||
Class of Stock [Line Items] | |||||||||||||||||
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest | $ 35,307 | $ 36,621 | $ 36,967 | $ 35,307 | $ 36,621 | $ 36,967 | $ 28,938 | ||||||||||
Distributions to partners | (6,284) | (4,556) | (3,468) | ||||||||||||||
Partners' Capital Account, Sale of Units | 780 | 925 | 3,762 | ||||||||||||||
Other, net | (11) | 35 | (54) | ||||||||||||||
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest, Excluding Portion Attributable to Redeemable Noncontrolling Interest | 5,135 | 3,735 | |||||||||||||||
Series D Preferred Units | |||||||||||||||||
Class of Stock [Line Items] | |||||||||||||||||
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest | $ 434 | $ 434 | $ 0 | 434 | 434 | 0 | 0 | ||||||||||
Distributions to partners | (34) | (11) | 0 | ||||||||||||||
Partners' Capital Account, Sale of Units | 0 | 431 | 0 | ||||||||||||||
Other, net | 0 | (1) | 0 | ||||||||||||||
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest, Excluding Portion Attributable to Redeemable Noncontrolling Interest | 34 | 15 | 0 | ||||||||||||||
Distribution Made to Limited Partner, Distributions Paid, Per Unit | $ 0.4766 | $ 0.4766 | $ 0.4766 | $ 0.4766 | $ 0.4766 | $ 0.5931 | [1] | $ 0 | $ 0 | ||||||||
Series C Preferred Units | |||||||||||||||||
Class of Stock [Line Items] | |||||||||||||||||
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest | $ 440 | $ 440 | $ 0 | 440 | 440 | 0 | 0 | ||||||||||
Distributions to partners | (33) | (18) | 0 | ||||||||||||||
Partners' Capital Account, Sale of Units | 0 | 436 | 0 | ||||||||||||||
Other, net | 0 | (1) | 0 | ||||||||||||||
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest, Excluding Portion Attributable to Redeemable Noncontrolling Interest | 33 | 23 | 0 | ||||||||||||||
Distribution Made to Limited Partner, Distributions Paid, Per Unit | $ 0.4609 | 0.4609 | 0.4609 | 0.4609 | $ 0.4609 | 0.4609 | 0.5634 | [1] | $ 0 | ||||||||
Series B Preferred Units [Member] | |||||||||||||||||
Class of Stock [Line Items] | |||||||||||||||||
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest | $ 556 | $ 556 | $ 547 | 556 | 556 | 547 | 0 | ||||||||||
Distributions to partners | (37) | (27) | 0 | ||||||||||||||
Partners' Capital Account, Sale of Units | 0 | 0 | 542 | ||||||||||||||
Other, net | 0 | 0 | 0 | ||||||||||||||
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest, Excluding Portion Attributable to Redeemable Noncontrolling Interest | 37 | 36 | 5 | ||||||||||||||
Distribution Made to Limited Partner, Distributions Paid, Per Unit | [2] | $ 33.1250 | 0 | 33.1250 | 0 | $ 33.1250 | 0 | 33.1250 | $ 16.3780 | [1] | |||||||
Series A Preferred Units [Member] | |||||||||||||||||
Class of Stock [Line Items] | |||||||||||||||||
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest | $ 958 | $ 958 | $ 944 | 958 | 958 | 944 | 0 | ||||||||||
Distributions to partners | (59) | (44) | 0 | ||||||||||||||
Partners' Capital Account, Sale of Units | 0 | 0 | 937 | ||||||||||||||
Other, net | 0 | (1) | 0 | ||||||||||||||
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest, Excluding Portion Attributable to Redeemable Noncontrolling Interest | 59 | 59 | 7 | ||||||||||||||
Distribution Made to Limited Partner, Distributions Paid, Per Unit | [2] | $ 31.2500 | 0 | 31.2500 | 0 | $ 31.2500 | 0 | 31.2500 | $ 15.4510 | [1] | |||||||
Series E Preferred Units [Member] | |||||||||||||||||
Class of Stock [Line Items] | |||||||||||||||||
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest | $ 786 | $ 0 | $ 0 | 786 | 0 | 0 | 0 | ||||||||||
Distributions to partners | (34) | 0 | 0 | ||||||||||||||
Partners' Capital Account, Sale of Units | 780 | 0 | 0 | ||||||||||||||
Other, net | (1) | 0 | 0 | ||||||||||||||
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest, Excluding Portion Attributable to Redeemable Noncontrolling Interest | 41 | 0 | 0 | ||||||||||||||
Distribution Made to Limited Partner, Distributions Paid, Per Unit | $ 0.4750 | $ 0.4750 | $ 0.5806 | [1] | $ 0 | $ 0 | $ 0 | $ 0 | $ 0 | ||||||||
Preferred Units [Member] | |||||||||||||||||
Class of Stock [Line Items] | |||||||||||||||||
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest | $ 3,174 | $ 2,388 | $ 1,491 | 3,174 | 2,388 | 1,491 | $ 0 | ||||||||||
Distributions to partners | (197) | (100) | 0 | ||||||||||||||
Partners' Capital Account, Sale of Units | 780 | 867 | 1,479 | ||||||||||||||
Other, net | (1) | (3) | 0 | ||||||||||||||
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest, Excluding Portion Attributable to Redeemable Noncontrolling Interest | $ 204 | $ 133 | $ 12 | ||||||||||||||
[1] | Represent prorated initial distributions. Prorated initial distributions on the recently issued Series F and Series G preferred units will be payable in May 2020. | ||||||||||||||||
[2] | Series A Preferred Units and Series B Preferred Unit distributions are paid on a semi-annual basis. |
Equity Quarterly Distribution o
Equity Quarterly Distribution of Available Cash (Details) - $ / shares | 3 Months Ended | ||||||||||||
Dec. 31, 2019 | Sep. 30, 2019 | Jun. 30, 2019 | Mar. 31, 2019 | Dec. 31, 2018 | Sep. 30, 2018 | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2017 | Sep. 30, 2017 | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2016 | |
Minimum Quarterly Distribution [Member] | |||||||||||||
Distribution Made to Limited Partner [Line Items] | |||||||||||||
Distribution Payment Targets | Â $0.4375 | ||||||||||||
First Target Distribution [Member] | |||||||||||||
Distribution Made to Limited Partner [Line Items] | |||||||||||||
Distribution Payment Targets | $0.4375 to $0.503125 | ||||||||||||
Second Target Distribution [Member] | |||||||||||||
Distribution Made to Limited Partner [Line Items] | |||||||||||||
Distribution Payment Targets | $0.503125 to $0.546875 | ||||||||||||
Third Target Distribution [Member] | |||||||||||||
Distribution Made to Limited Partner [Line Items] | |||||||||||||
Distribution Payment Targets | $0.546875 to $0.656250 | ||||||||||||
Thereafter [Member] | |||||||||||||
Distribution Made to Limited Partner [Line Items] | |||||||||||||
Distribution Payment Targets | Above $0.656250 | ||||||||||||
Sunoco LP [Member] | |||||||||||||
Distribution Made to Limited Partner [Line Items] | |||||||||||||
Distribution Made to Limited Partner, Distributions Paid, Per Unit | $ 0.8255 | $ 0.8255 | $ 0.8255 | $ 0.8255 | $ 0.8255 | $ 0.8255 | $ 0.8255 | $ 0.8255 | $ 0.8255 | $ 0.8255 | $ 0.8255 | $ 0.8255 | $ 0.8255 |
USAC [Member] | |||||||||||||
Distribution Made to Limited Partner [Line Items] | |||||||||||||
Distribution Made to Limited Partner, Distributions Paid, Per Unit | $ 0.5250 | $ 0.5250 | $ 0.5250 | $ 0.5250 | $ 0.5250 | $ 0.5250 | $ 0.5250 | $ 0.5250 | |||||
IDRs [Member] | Minimum Quarterly Distribution [Member] | |||||||||||||
Distribution Made to Limited Partner [Line Items] | |||||||||||||
Distribution Payment Targets | —% | ||||||||||||
IDRs [Member] | First Target Distribution [Member] | |||||||||||||
Distribution Made to Limited Partner [Line Items] | |||||||||||||
Distribution Payment Targets | —% | ||||||||||||
IDRs [Member] | Second Target Distribution [Member] | |||||||||||||
Distribution Made to Limited Partner [Line Items] | |||||||||||||
Distribution Payment Targets | 15% | ||||||||||||
IDRs [Member] | Third Target Distribution [Member] | |||||||||||||
Distribution Made to Limited Partner [Line Items] | |||||||||||||
Distribution Payment Targets | 25% | ||||||||||||
IDRs [Member] | Thereafter [Member] | |||||||||||||
Distribution Made to Limited Partner [Line Items] | |||||||||||||
Distribution Payment Targets | 50% | ||||||||||||
Limited Partner [Member] | Minimum Quarterly Distribution [Member] | |||||||||||||
Distribution Made to Limited Partner [Line Items] | |||||||||||||
Distribution Payment Targets | 100% | ||||||||||||
Limited Partner [Member] | First Target Distribution [Member] | |||||||||||||
Distribution Made to Limited Partner [Line Items] | |||||||||||||
Distribution Payment Targets | 100% | ||||||||||||
Limited Partner [Member] | Second Target Distribution [Member] | |||||||||||||
Distribution Made to Limited Partner [Line Items] | |||||||||||||
Distribution Payment Targets | 85% | ||||||||||||
Limited Partner [Member] | Third Target Distribution [Member] | |||||||||||||
Distribution Made to Limited Partner [Line Items] | |||||||||||||
Distribution Payment Targets | 75% | ||||||||||||
Limited Partner [Member] | Thereafter [Member] | |||||||||||||
Distribution Made to Limited Partner [Line Items] | |||||||||||||
Distribution Payment Targets | 50% |
Unit-Based Compensation Plans_3
Unit-Based Compensation Plans (Narrative) (Details) - Subsidiary Unit Based Compensation [Member] - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Total fair value of awards vested | $ 17 | $ 22 | $ 9 |
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount | $ 57 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Outstanding, Weighted Average Remaining Contractual Terms | 3 years 7 months 6 days |
Unit-Based Compensation Plans S
Unit-Based Compensation Plans Subsidiary unit award rollforward (Details) - $ / shares shares in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Sunoco LP Unit Based Compensation Plans [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number | 2.1 | 2.1 | |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value | $ 29.21 | $ 29.15 | |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | 0.7 | ||
Awards granted | $ 30.70 | $ 27.67 | $ 28.31 |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period | (0.5) | ||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period, Weighted Average Grant Date Fair Value | $ 30.04 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Forfeitures, Weighted Average Grant Date Fair Value | $ 28.16 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Forfeited in Period | 0.2 | ||
USAC Unit Based Compensation Plans [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number | 1.8 | 1.4 | |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value | $ 15.09 | $ 14.98 | |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | 0.7 | ||
Awards granted | $ 15.88 | $ 15.47 | |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period | (0.3) | ||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period, Weighted Average Grant Date Fair Value | $ 13.06 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Forfeitures, Weighted Average Grant Date Fair Value | $ 16.78 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Forfeited in Period | 0 |
Income Taxes Narrative (Details
Income Taxes Narrative (Details) - USD ($) $ in Millions | 12 Months Ended | |||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | Oct. 31, 2019 | |
Income Tax Contingency [Line Items] | ||||
Deferred Tax Liabilities, Gross | $ 3,795 | $ 3,784 | ||
Unrecognized Tax Benefits That Would Impact Effective Tax Rate, Ater Tax | 72 | |||
Unrecognized Tax Benefits, Interest on Income Taxes Expense | 1 | |||
Income Tax Examination, Penalties and Interest Accrued | 3 | |||
Deferred Tax Assets, Operating Loss Carryforwards, Subject to Expiration | 1,100 | |||
Net operating losses, alternative minimum tax credit and other carryforwards | 669 | 768 | ||
Unrecognized Tax Benefits that Would Impact Effective Tax Rate | 90 | |||
Deferred Tax Assets, Valuation Allowance | 49 | 96 | ||
State | (1) | 20 | $ (16) | |
Tax Credit Carryforward, Valuation Allowance | 49 | |||
Effective Income Tax Rate Reconciliation, Change in Enacted Tax Rate, Amount | 0 | $ 0 | $ (1,784) | |
ETP Holdco and other corporate subsidiaries [Member] | ||||
Income Tax Contingency [Line Items] | ||||
Operating Loss Carryforwards | 2,650 | |||
Corporate Subsidiaries [Member] | ||||
Income Tax Contingency [Line Items] | ||||
Net operating losses, alternative minimum tax credit and other carryforwards | 15 | |||
Deferred Tax Assets, Operating Loss Carryforwards, State and Local | $ 95 | |||
Holdco [Member] | ||||
Income Tax Contingency [Line Items] | ||||
Operating Loss Carryforwards, Expiration Date | Jan. 1, 2031 | |||
Sunoco, Inc. [Member] | ||||
Income Tax Contingency [Line Items] | ||||
Estimated Litigation Liability | $ 530 | |||
Net of federal tax [Member] | ||||
Income Tax Contingency [Line Items] | ||||
State | $ 53 | |||
Minimum [Member] | Corporate Subsidiaries [Member] | ||||
Income Tax Contingency [Line Items] | ||||
Operating Loss Carryforwards, Expiration Date | Jan. 1, 2020 | |||
Maximum [Member] | Corporate Subsidiaries [Member] | ||||
Income Tax Contingency [Line Items] | ||||
Operating Loss Carryforwards, Expiration Date | Dec. 31, 2037 | |||
Pennsylvania Constitution [Member] | ||||
Income Tax Contingency [Line Items] | ||||
State | $ 67 | |||
Deferred Tax Assets, Tax Deferred Expense, Reserves and Accruals, Contingencies | 34 | |||
Pennsylvania Constitution [Member] | Net of federal tax [Member] | ||||
Income Tax Contingency [Line Items] | ||||
Deferred Tax Assets, Tax Deferred Expense, Reserves and Accruals, Contingencies | 27 | |||
Reclassed to current income tax receivable within 12 months [Member] | ||||
Income Tax Contingency [Line Items] | ||||
Net operating losses, alternative minimum tax credit and other carryforwards | $ 8 |
Income Taxes Compoenents of Fed
Income Taxes Compoenents of Federal and State Income Tax Expense (Benefit) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Current expense (benefit): | |||
Federal | $ (20) | $ (7) | $ 53 |
State | (1) | 20 | (16) |
Current expense (benefit) - Total | (21) | 13 | 37 |
Deferred expense (benefit): | |||
Federal | 176 | 183 | (2,025) |
State | 45 | (191) | 184 |
Deferred expense (benefit) - Total | 221 | (8) | (1,841) |
Income tax expense (benefit) | $ 200 | $ 5 | $ (1,804) |
Income Taxes Statutory Income T
Income Taxes Statutory Income Tax Rate Reconciliation (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Income Tax Disclosure [Abstract] | |||
Income tax expense at United States statutory rate | $ 1,131 | $ 849 | $ 402 |
Partnership earnings not subject to tax | (940) | (718) | (626) |
Effective Income Tax Rate Reconciliation, Change in Enacted Tax Rate, Amount | 0 | 0 | (1,784) |
Goodwill impairments | 0 | 0 | 208 |
Foreign | 14 | (125) | 123 |
Dividend received deduction | (3) | (5) | (14) |
Other | (2) | 4 | 11 |
Income tax expense (benefit) | 200 | 5 | (1,804) |
Effective Income Tax Rate Reconciliation, Change in Tax Status of Subsidiary | $ 0 | $ 0 | $ (124) |
Income Taxes Tax Effects of Tem
Income Taxes Tax Effects of Temporary Differences (Details) - USD ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
Deferred income tax assets: | ||
Net operating losses, alternative minimum tax credit and other carryforwards | $ 669 | $ 768 |
Pension and other postretirement benefits | 0 | 34 |
Long-term debt | 0 | 13 |
Other | 62 | 181 |
Total deferred income tax assets | 731 | 996 |
Valuation allowance | (49) | (96) |
Net deferred income tax assets | 682 | 900 |
Deferred income tax liabilities: | ||
Property, plant and equipment | (258) | (742) |
Investments in affiliates | (3,452) | (2,869) |
Trademarks | 72 | 63 |
Other | (13) | (110) |
Total deferred income tax liabilities | (3,795) | (3,784) |
Net deferred income taxes | $ (3,113) | $ (2,884) |
Income Taxes Components of Net
Income Taxes Components of Net Deferred Income Tax (Details) - USD ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
Income Tax Disclosure [Abstract] | ||
Deferred Tax Liabilities, Property, Plant and Equipment | $ 258 | $ 742 |
Trademarks | 72 | 63 |
Deferred Tax Liabilities, Investment in Noncontrolled Affiliates | 3,452 | 2,869 |
Deferred Tax Liabilities, Other | $ 13 | $ 110 |
Income Taxes Changes in Unrecog
Income Taxes Changes in Unrecognized Tax Benefits (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Income Tax Disclosure [Abstract] | |||
Balance at beginning of year | $ 624 | $ 609 | $ 615 |
Additions attributable to tax positions taken in the current year | 0 | 8 | 0 |
Additions attributable to tax positions taken in prior years | 11 | 7 | 28 |
Reduction attributable to tax positions taken in prior years | (541) | 0 | (25) |
Lapse of statute | 0 | 0 | (9) |
Balance at end of year | $ 94 | $ 624 | $ 609 |
Regulatory Matters, Commitmen_3
Regulatory Matters, Commitments, Contingencies and Environmental Matters (Narrative) (Details) | 12 Months Ended | ||
Dec. 31, 2019USD ($) | Dec. 31, 2018USD ($) | Dec. 31, 2017USD ($) | |
ROW expense | $ 45,000,000 | $ 46,000,000 | $ 46,000,000 |
Site Contingency, Number of Sites Needing Remediation | 40 | ||
Loss Contingency Accrual, at Carrying Value | $ 0 | ||
Loss Contingency, Estimate of Possible Loss | 80,000,000 | ||
Accrual for Environmental Loss Contingencies | 317,000,000 | 337,000,000 | |
Payments for Environmental Liabilities | 39,000,000 | 48,000,000 | |
Long-term Debt | $ 50,346,000,000 | 40,508,000,000 | |
PES [Member] | |||
Limited Liability Company or Limited Partnership, Members or Limited Partners, Ownership Interest | 7.40% | ||
Debt Instrument, Debt Default, Amount | $ 75,000,000 | ||
Rover Pipeline LLC [Member] | |||
Proposed Environmental Penalty | 2,600,000 | ||
Sunoco LP [Member] | |||
Long-term Debt | 3,071,000,000 | 2,984,000,000 | |
SPLP and Mid-Valley Pipeline [Member] | |||
Loss Contingency, Damages Awarded, Value | 5,400,000 | ||
Related To Deductibles [Member] | |||
Loss Contingency Accrual, at Carrying Value | 98,000,000 | 53,000,000 | |
4.875% senior notes due 2023 [Member] | Sunoco LP [Member] | |||
Senior Notes | 1,000,000,000 | 1,000,000,000 | |
5.500% senior notes due 2026 [Member] | Sunoco LP [Member] | |||
Senior Notes | 800,000,000 | 800,000,000 | |
5.875% senior notes due 2028 [Member] | Sunoco LP [Member] | |||
Senior Notes | 400,000,000 | $ 400,000,000 | |
Final Judgement [Member] | |||
Gain Contingency, Unrecorded Amount | 536,000,000 | ||
Expense Reimbursement [Member] | |||
Gain Contingency, Unrecorded Amount | 1,000,000 | ||
Disgorgement [Member] | |||
Gain Contingency, Unrecorded Amount | 595,000,000 | ||
Compensatory Damages [Member] | |||
Gain Contingency, Unrecorded Amount | $ 319,000,000 |
Regulatory Matters, Commitmen_4
Regulatory Matters, Commitments, Contingencies and Environmental Matters (Rent Expense and Future minimum lease commitments) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Regulatory Matters, Commitments, Contingencies And Environmental Liabilities [Abstract] | |||
ROW expense | $ 45 | $ 46 | $ 46 |
Regulatory Matters, Commitmen_5
Regulatory Matters, Commitments, Contingencies and Environmental Matters (Liabilities Related to Environmental Matters) (Details) - USD ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
Environmental Remediation Obligations [Abstract] | ||
Accrued Environmental Loss Contingencies, Current | $ 43 | $ 42 |
Accrued Environmental Loss Contingencies, Noncurrent | 274 | 295 |
Accrual for Environmental Loss Contingencies | $ 317 | $ 337 |
Revenue Narrative (Details)
Revenue Narrative (Details) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Revenue, Remaining Performance Obligation, Amount | $ 40,700 | |
Sunoco LP [Member] | ||
Capitalized Contract Cost, Amortization | $ 17 | $ 14 |
Revenue Contract Balances (Deta
Revenue Contract Balances (Details) - USD ($) $ in Millions | 12 Months Ended | ||||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | Jan. 01, 2019 | Jan. 01, 2018 | |
Revenue from External Customer [Line Items] | |||||
Increase (Decrease) in Accounts Receivable | $ 423 | $ (506) | $ 951 | ||
Contract with Customer, Liability | 358 | 394 | $ 221 | ||
Deferred Revenue, Additions | 643 | 765 | |||
Contract with Customer, Liability, Revenue Recognized | $ (679) | (592) | |||
Sunoco LP [Member] | |||||
Revenue from External Customer [Line Items] | |||||
Contract with Customer, Asset, after Allowance for Credit Loss | 75 | $ 117 | |||
Receivables from Customers | 347 | 366 | |||
Contract with Customer, Liability | $ 1 | $ 0 |
Revenue Future Obligations (Det
Revenue Future Obligations (Details) $ in Millions | Dec. 31, 2019USD ($) |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Revenue, Remaining Performance Obligation, Amount | $ 40,700 |
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 | 5,913 |
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 | 5,056 |
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 | 4,672 |
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 | $ 25,059 |
Lease Accounting Lessee Account
Lease Accounting Lessee Accounting(Details) - USD ($) $ in Millions | 12 Months Ended | |||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | Jan. 01, 2019 | |
Lessee, Operating Lease, Liability, Payments, Remainder of Fiscal Year | $ 98 | |||
Net Cash Provided by (Used in) Operating Activities | $ 8,251 | $ 7,559 | $ 4,817 | |
Operating Lease, Weighted Average Remaining Lease Term | 22 years | |||
Operating Lease, Cost | $ 116 | |||
Operating Lease, Right-of-Use Asset | 1,000 | 0 | $ 889 | |
Operating lease current liabilities | 54 | 0 | 71 | |
Accrued and other current liabilities | 3,216 | 2,847 | 2,846 | |
Current maturities of long-term debt | 12 | 2,655 | 2,656 | |
Non-current operating lease liabilities | 816 | 0 | 823 | |
Property, Plant and Equipment, Net | 69,971 | 66,655 | 66,654 | |
Long-term debt, less current maturities | 50,334 | 37,853 | 37,859 | |
Other non-current liabilities | 1,109 | $ 1,184 | $ 1,172 | |
Finance Lease, Interest Expense | 1 | |||
Lease, Cost | 135 | |||
Lease, Cost, Gross | $ 182 | |||
Finance Lease, Weighted Average Remaining Lease Term | 5 years | |||
Right-of-Use Asset Obtained in Exchange for Finance Lease Liability | $ 28 | |||
Right-of-Use Asset Obtained in Exchange for Operating Lease Liability | 39 | |||
Finance Lease, Liability, Payments, Remainder of Fiscal Year | 8 | |||
Lease Liabilities, Remainder of Year | 106 | |||
Lessee, Operating Lease, Liability, Payments, Due Year Two | 89 | |||
Finance Lease, Liability, Payments, Due Year Two | 8 | |||
Lease Liabilities, Due Year Two | 97 | |||
Lessee, Operating Lease, Liability, Payments, Due Year Three | 77 | |||
Finance Lease, Liability, Payments, Due Year Three | 8 | |||
Lease Liabilities, Due Year Three | 85 | |||
Lessee, Operating Lease, Liability, Payments, Due Year Four | 71 | |||
Finance Lease, Liability, Payments, Due Year Four | 7 | |||
Lease Liabilities, Due Year Four | 78 | |||
Lessee, Operating Lease, Liability, Payments, Due Year Five | 68 | |||
Finance Lease, Liability, Payments, Due Year Five | 4 | |||
Lease Liabilities, Due Year Five | 72 | |||
Lessee, Operating Lease, Liability, Payments, Due after Year Five | 1,141 | |||
Finance Lease, Liability, Payments, Due after Year Five | 5 | |||
Lease Liabilities, Due After Five Years | 1,146 | |||
Lessee, Operating Lease, Liability, Payments, Due | 1,544 | |||
Finance Lease, Liability, Payment, Due | 40 | |||
Lease Liabilities, Due | 1,584 | |||
Lessee, Operating Lease, Liability, Undiscounted Excess Amount | 674 | |||
Finance Lease, Liability, Undiscounted Excess Amount | 5 | |||
Lease Liability, Undiscounted Excess Amount | 679 | |||
Operating Lease, Liability | 870 | |||
Finance Lease, Liability | 35 | |||
Lease, Liabilities | $ 905 | |||
Real Estate [Member] | ||||
Lessee, Operating Lease, Term of Contract | 40 years | |||
Maximum [Member] | ||||
Lessee, Operating Lease, Renewal Term | 20 years | |||
Maximum [Member] | Equipment [Member] | ||||
Lessee, Operating Lease, Term of Contract | 15 years | |||
Minimum [Member] | ||||
Lessee, Operating Lease, Renewal Term | 1 year | |||
Minimum [Member] | Equipment [Member] | ||||
Lessee, Operating Lease, Term of Contract | 5 years | |||
Operating Leases [Member] | ||||
Net Cash Provided by (Used in) Operating Activities | $ (158) | |||
Operating Lease, Right-of-Use Asset | 848 | |||
Operating lease current liabilities | 54 | |||
Accrued and other current liabilities | 1 | |||
Non-current operating lease liabilities | 816 | |||
Finance Leases [Member] | ||||
Accrued and other current liabilities | 1 | |||
Current maturities of long-term debt | 6 | |||
Property, Plant and Equipment, Net | 1 | |||
Finance Lease, Right-of-Use Asset | 29 | |||
Long-term debt, less current maturities | 26 | |||
Other non-current liabilities | 2 | |||
Lease, Cost | 7 | |||
Cost of Goods and Service Benchmark [Member] | ||||
Operating Lease, Cost | 28 | |||
Operating Expense [Member] | ||||
Operating Lease, Cost | 72 | |||
Short-term Lease, Cost | 42 | |||
Variable Lease, Cost | 17 | |||
Selling, General and Administrative Expenses [Member] | ||||
Operating Lease, Cost | 16 | |||
Depreciation And Amortization [Member] | ||||
Finance Lease, Right-of-Use Asset, Amortization | 6 | |||
Other Revenue [Member] | ||||
Sublease Income | $ 47 | |||
ETO [Member] | ||||
Operating Lease, Weighted Average Discount Rate, Percent | 5.00% | |||
Finance Lease, Weighted Average Discount Rate, Percent | 5.00% |
Lease Accounting Lessor Account
Lease Accounting Lessor Accounting (Details) $ in Millions | 12 Months Ended |
Dec. 31, 2019USD ($) | |
Leases [Abstract] | |
Lessor, Operating Lease, Payments to be Received, Next Twelve Months | $ 125 |
Lessor, Operating Lease, Payments to be Received, Two Years | 99 |
Lessor, Operating Lease, Payments to be Received, Three Years | 62 |
Lessor, Operating Lease, Payments to be Received, Four Years | 7 |
Lessor, Operating Lease, Payments to be Received, Five Years | 2 |
Lessor, Operating Lease, Payments to be Received, Thereafter | 7 |
Lessor, Operating Lease, Payments to be Received | 302 |
Rental Income, Nonoperating | $ 146 |
Derivative assets and liabilt_3
Derivative assets and liabilties (Outstanding commodity-related derivatives) (Details) | Dec. 31, 2019MWbarrelsBBtuMB_blsbushels | Dec. 31, 2018MWMMbtubarrelsBBtubushels | |
Natural Gas [Member] | Fixed Swaps Futures [Member] | Mark to Market Derivatives [Member] | Non Trading [Member] | Short [Member] | |||
Notional Volume | (3,085) | (1,068) | |
Natural Gas [Member] | Fixed Swaps Futures [Member] | Mark to Market Derivatives [Member] | Trading [Member] | Long [Member] | |||
Notional Volume | (1,483) | (468) | |
Natural Gas [Member] | Fixed Swaps Futures [Member] | Fair Value Hedging [Member] | Non Trading [Member] | Short [Member] | |||
Notional Volume | (31,780) | (17,445) | |
Natural Gas [Member] | Forward Physical Contracts [Member] | Mark to Market Derivatives [Member] | Non Trading [Member] | Short [Member] | |||
Notional Volume | (13,364) | (123,254) | |
Natural Gas [Member] | Basis Swaps IFERC/NYMEX [Member] | Mark to Market Derivatives [Member] | Non Trading [Member] | Short [Member] | |||
Notional Volume | (18,923) | (30,228) | |
Natural Gas [Member] | Basis Swaps IFERC/NYMEX [Member] | Mark to Market Derivatives [Member] | Trading [Member] | Long [Member] | |||
Notional Volume | [1] | (16,845) | |
Natural Gas [Member] | Basis Swaps IFERC/NYMEX [Member] | Mark to Market Derivatives [Member] | Trading [Member] | Short [Member] | |||
Notional Volume | [1] | (35,208) | |
Natural Gas [Member] | Basis Swaps IFERC/NYMEX [Member] | Fair Value Hedging [Member] | Non Trading [Member] | Short [Member] | |||
Notional Volume | (31,780) | (17,445) | |
Natural Gas [Member] | Swing Swaps IFERC [Member] | Mark to Market Derivatives [Member] | Non Trading [Member] | Long [Member] | |||
Notional Volume | (54,158) | ||
Natural Gas [Member] | Swing Swaps IFERC [Member] | Mark to Market Derivatives [Member] | Non Trading [Member] | Short [Member] | |||
Notional Volume | (9,265) | ||
Natural Gas [Member] | Call Option [Member] | Mark to Market Derivatives [Member] | Trading [Member] | Long [Member] | |||
Notional Volume | 0 | (10,000) | |
Natural Gas [Member] | Hedged Item - Inventory (MMBtu) [Member] | Fair Value Hedging [Member] | Non Trading [Member] | Long [Member] | |||
Notional Volume | (31,780) | (17,445) | |
Power [Member] | Call Option [Member] | Mark to Market Derivatives [Member] | Trading [Member] | Long [Member] | |||
Notional Volume | MW | (284,800) | ||
Power [Member] | Call Option [Member] | Mark to Market Derivatives [Member] | Trading [Member] | Short [Member] | |||
Notional Volume | MW | (2,704,330) | ||
Power [Member] | Forward Swaps [Member] | Mark to Market Derivatives [Member] | Trading [Member] | Long [Member] | |||
Notional Volume | MW | (3,213,450) | (3,141,520) | |
Power [Member] | Future [Member] | Mark to Market Derivatives [Member] | Trading [Member] | Long [Member] | |||
Notional Volume | MW | (56,656) | ||
Power [Member] | Future [Member] | Mark to Market Derivatives [Member] | Trading [Member] | Short [Member] | |||
Notional Volume | MW | (353,527) | ||
Power [Member] | Put Option [Member] | Mark to Market Derivatives [Member] | Trading [Member] | Long [Member] | |||
Notional Volume | MW | (51,615) | (18,400) | |
Natural Gas Liquids [Member] | Forward Swaps [Member] | Mark to Market Derivatives [Member] | Non Trading [Member] | Short [Member] | |||
Notional Volume | (1,300) | (2,135) | |
Crude Oil [Member] | Forward Swaps [Member] | Mark to Market Derivatives [Member] | Non Trading [Member] | Long [Member] | |||
Notional Volume | barrels | (4,465) | (20,888) | |
Refined Products [Member] | Future [Member] | Mark to Market Derivatives [Member] | Non Trading [Member] | Short [Member] | |||
Notional Volume | (2,473) | (1,403) | |
Corn [Member] | Future [Member] | Mark to Market Derivatives [Member] | Non Trading [Member] | Short [Member] | |||
Notional Volume | bushels | (1,210) | (1,920) | |
[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 liabilt_4
Derivative assets and liabilties (Interest rate swaps outstanding) (Details) - Derivatives Not Designated As Hedging Instruments - Interest Rate Derivatives [Member] - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | ||
March 2019 [Member] | |||
Type | [1] | Pay a floating rate and receive a fixed rate of 1.42% | |
Notional amount outstanding | $ 0 | $ 300 | |
Forward-Starting Swaps [Member] | July 2019 [Member] | |||
Type | [1],[2] | Forward-starting to pay a fixed rate of 3.56% and receive a floating rate | |
Notional amount outstanding | [2] | $ 0 | 400 |
Forward-Starting Swaps [Member] | July 2020 [Member] | |||
Type | [1],[2],[3] | Forward-starting to pay a fixed rate of 3.52% and receive a floating rate | |
Notional amount outstanding | [2],[3] | $ 400 | 400 |
Forward-Starting Swaps [Member] | July 2021 [Member] | |||
Type | [1],[2] | Forward-starting to pay a fixed rate of 3.55% and receive a floating rate | |
Notional amount outstanding | [2] | $ 400 | 400 |
Forward-Starting Swaps [Member] | July 2022 [Member] | |||
Type | [2] | Forward-starting to pay a fixed rate of 3.80% and receive a floating rate | |
Notional amount outstanding | [2] | $ 400 | $ 0 |
[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. | ||
[3] | The July 2020 interest rate swaps were terminated in January 2020. |
Derivative assets and liabilt_5
Derivative assets and liabilties (Fair Value of Derivative Instruments) (Details) - USD ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
Total derivative assets | $ 384 | $ 560 |
Total derivative liabilities | (788) | (746) |
Derivative Asset, Fair Value, Net | 48 | 116 |
Derivative Liability, Fair Value, Net | 452 | 302 |
Designated as Hedging Instrument [Member] | ||
Total derivative assets | 24 | 0 |
Total derivative liabilities | 0 | (13) |
Designated as Hedging Instrument [Member] | Commodity derivatives (margin deposits) [Member] | ||
Total derivative assets | 24 | 0 |
Total derivative liabilities | 0 | (13) |
Not Designated as Hedging Instrument [Member] | ||
Total derivative assets | 360 | 560 |
Total derivative liabilities | (788) | (733) |
Not Designated as Hedging Instrument [Member] | Commodity derivatives (margin deposits) [Member] | ||
Total derivative assets | 319 | 402 |
Total derivative liabilities | (350) | (397) |
Not Designated as Hedging Instrument [Member] | Commodity Derivatives [Member] | ||
Total derivative assets | 41 | 158 |
Total derivative liabilities | (39) | (173) |
Not Designated as Hedging Instrument [Member] | Interest Rate Derivatives [Member] | ||
Total derivative assets | 0 | 0 |
Total derivative liabilities | $ (399) | $ (163) |
Derivative assets and liabilt_6
Derivative assets and liabilties (Netting table) (Details) - USD ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
Derivative [Line Items] | ||
Derivative Asset, Fair Value, Gross Asset | $ 384 | $ 560 |
Derivative Liability, Fair Value, Gross Liability | (788) | (746) |
Derivative Asset, Fair Value, Amount Offset Against Collateral | (18) | (47) |
Derivative Liability, Fair Value, Amount Offset Against Collateral | 18 | 47 |
Derivative Asset, Collateral, Obligation to Return Cash, Offset | (318) | (397) |
Derivative Liability, Collateral, Right to Reclaim Cash, Offset | 318 | 397 |
Derivative Asset, Fair Value, Net | 48 | 116 |
Derivative Liability, Fair Value, Net | (452) | (302) |
Without offsetting agreements [Member] | ||
Derivative [Line Items] | ||
Derivative Asset, Fair Value, Gross Asset | 0 | 0 |
Derivative Liability, Fair Value, Gross Liability | (399) | (163) |
OTC Contracts [Member] | ||
Derivative [Line Items] | ||
Derivative Asset, Fair Value, Gross Asset | 41 | 158 |
Derivative Liability, Fair Value, Gross Liability | (39) | (173) |
Broker cleared derivative contracts [Member] | ||
Derivative [Line Items] | ||
Derivative Asset, Fair Value, Gross Asset | 343 | 402 |
Derivative Liability, Fair Value, Gross Liability | $ (350) | $ (410) |
Derivative assets and liabilt_7
Derivative assets and liabilties (Partnership's derivative assets and liabilities, recognized OCI on derivatives (effective portion)) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Cost of Sales [Member] | Commodity [Member] | |||
Derivative [Line Items] | |||
Derivative Instruments, Gain (Loss) Recognized in Income, Ineffective Portion and Amount Excluded from Effectiveness Testing, Net | $ 0 | $ (3) | $ 26 |
Derivative assets and liabilt_8
Derivative assets and liabilties (Partnership's derivative assets and liabilities, amount of gain/(loss) reclassified from AOCI into income (effective portion)) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Amount of Gain (Loss) Recognized In Income On Derivatives | $ (298) | $ (23) | $ 0 |
Gains (losses) on interest rate derivatives | (241) | 47 | (37) |
Embedded Derivatives in Preferred Units [Member] | Other Income (Expenses) [Member] | |||
Amount of Gain (Loss) Recognized In Income On Derivatives | 0 | 0 | 1 |
Commodity [Member] | Cost of Sales [Member] | |||
Amount of Gain (Loss) Recognized in Income on Ineffective Portion | 0 | (3) | 26 |
Trading [Member] | Commodity [Member] | Cost of Sales [Member] | |||
Amount of Gain (Loss) Recognized In Income On Derivatives | 21 | 32 | 31 |
Non Trading [Member] | Commodity [Member] | Cost of Sales [Member] | |||
Amount of Gain (Loss) Recognized In Income On Derivatives | $ (78) | $ (102) | $ 5 |
Retirement Benefits (Narratives
Retirement Benefits (Narratives) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |||
Contributions to the 401(k) savings plan | $ 66 | $ 62 | $ 59 |
Pension Plans, Defined Benefit [Member] | |||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |||
Large Cap US Equitiies | 100.00% | 100.00% | |
Current portion of expected future benefit | $ 5 | ||
Other Postretirement Benefit Plans, Defined Benefit [Member] | |||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |||
Large Cap US Equitiies | 59.00% | 53.00% | |
Fixed Income Securities | 40.00% | 46.00% | |
Cash Fund Investments | 1.00% | 1.00% | |
Current portion of expected future benefit | $ 8 | ||
Sunoco [Member] | |||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |||
Liability, Other Postretirement Defined Benefit Plan, Noncurrent | $ 200 | ||
Minimum [Member] | Equity [Member] | Panhandle [Member] | Other Postretirement Benefit Plans, Defined Benefit [Member] | |||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |||
Defined Benefit Plan, Plan Assets, Investment Policy and Strategy, Description | 25.00% | ||
Minimum [Member] | Fixed Income Investments [Member] | Panhandle [Member] | Other Postretirement Benefit Plans, Defined Benefit [Member] | |||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |||
Defined Benefit Plan, Plan Assets, Investment Policy and Strategy, Description | 65.00% | ||
Maximum [Member] | Equity [Member] | Panhandle [Member] | Other Postretirement Benefit Plans, Defined Benefit [Member] | |||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |||
Defined Benefit Plan, Plan Assets, Investment Policy and Strategy, Description | 35.00% | ||
Maximum [Member] | Fixed Income Investments [Member] | Panhandle [Member] | Other Postretirement Benefit Plans, Defined Benefit [Member] | |||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |||
Defined Benefit Plan, Plan Assets, Investment Policy and Strategy, Description | 75.00% | ||
Funded Plans [Member] | Pension Plans, Defined Benefit [Member] | |||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |||
Current portion of expected future benefit | $ 1 |
Retirement Benefits Obligations
Retirement Benefits Obligations and Funded Status (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Pension Plans, Defined Benefit [Member] | |||
Change in benefit obligation and Plan Assets: | |||
Interest cost | $ 1 | $ 1 | |
Benefit obligation | 1 | ||
Defined Benefit Plan, Service Cost | 0 | 0 | |
Fair value of plan assets | 1 | ||
Amount underfunded | 0 | ||
Other Postretirement Benefit Plans, Defined Benefit [Member] | |||
Change in benefit obligation and Plan Assets: | |||
Defined Benefit Plan, Benefit Obligation, Benefits Paid | (16) | (17) | |
Interest cost | 7 | 5 | |
Defined Benefit Plan, Benefit Obligation, Increase (Decrease) for Plan Amendment | 0 | 60 | |
Actuarial (gain) loss and other | 18 | (7) | |
Benefits paid, net | (16) | (17) | |
Return on plan assets and other | 35 | (8) | |
Employer contributions | 10 | 9 | |
Benefit obligation | 208 | 198 | $ 156 |
Defined Benefit Plan, Service Cost | 1 | 1 | |
Fair value of plan assets | 270 | 241 | 257 |
Amount underfunded | (62) | (43) | |
Amounts recognized in the consolidated balance sheets consist of: | |||
Non-current assets | 88 | 68 | |
Current liabilities | (2) | (2) | |
Non-current liabilities | (24) | (23) | |
Defined Benefit Plan, Amounts for Asset (Liability) Recognized in Statement of Financial Position | 62 | 43 | |
Net actuarial gain (loss) | (5) | (7) | |
Prior service cost | 40 | 66 | |
Other Comprehensive Income (Loss), Pension and Other Postretirement Benefit Plans, Adjustment, Net of Tax | 35 | 59 | |
Funded Plans [Member] | Pension Plans, Defined Benefit [Member] | |||
Change in benefit obligation and Plan Assets: | |||
Defined Benefit Plan, Pension Plan with Accumulated Benefit Obligation in Excess of Plan Assets, Projected Benefit Obligation | 0 | 0 | |
Defined Benefit Plan, Benefit Obligation, Benefits Paid | 0 | 0 | |
Interest cost | 0 | 0 | |
Defined Benefit Plan, Benefit Obligation, Increase (Decrease) for Plan Amendment | 0 | 0 | |
Actuarial (gain) loss and other | 0 | 0 | |
Benefits paid, net | 0 | 0 | |
Return on plan assets and other | 0 | 0 | |
Employer contributions | 0 | 0 | |
Benefit obligation | 1 | 1 | 1 |
Defined Benefit Plan, Service Cost | 0 | ||
Fair value of plan assets | 1 | 1 | 1 |
Amount underfunded | 0 | ||
Amounts recognized in the consolidated balance sheets consist of: | |||
Non-current assets | 0 | 0 | |
Current liabilities | 0 | 0 | |
Non-current liabilities | 0 | 0 | |
Defined Benefit Plan, Amounts for Asset (Liability) Recognized in Statement of Financial Position | 0 | 0 | |
Net actuarial gain (loss) | 0 | 0 | |
Prior service cost | 0 | 0 | |
Other Comprehensive Income (Loss), Pension and Other Postretirement Benefit Plans, Adjustment, Net of Tax | 0 | 0 | |
Unfunded Plans [Member] | Pension Plans, Defined Benefit [Member] | |||
Change in benefit obligation and Plan Assets: | |||
Defined Benefit Plan, Pension Plan with Accumulated Benefit Obligation in Excess of Plan Assets, Projected Benefit Obligation | 31 | 37 | |
Defined Benefit Plan, Benefit Obligation, Benefits Paid | (7) | (7) | |
Interest cost | 1 | 1 | |
Defined Benefit Plan, Benefit Obligation, Increase (Decrease) for Plan Amendment | 0 | 0 | |
Actuarial (gain) loss and other | 0 | (4) | |
Benefits paid, net | 0 | 0 | |
Return on plan assets and other | 0 | 0 | |
Employer contributions | 0 | 0 | |
Benefit obligation | 31 | 37 | 47 |
Defined Benefit Plan, Service Cost | 0 | 0 | |
Fair value of plan assets | 0 | $ 0 | |
Amount underfunded | 31 | 37 | |
Amounts recognized in the consolidated balance sheets consist of: | |||
Non-current assets | 0 | 0 | |
Current liabilities | (5) | (6) | |
Non-current liabilities | (26) | (31) | |
Defined Benefit Plan, Amounts for Asset (Liability) Recognized in Statement of Financial Position | (31) | (37) | |
Net actuarial gain (loss) | 1 | 1 | |
Prior service cost | 0 | 0 | |
Other Comprehensive Income (Loss), Pension and Other Postretirement Benefit Plans, Adjustment, Net of Tax | 1 | 1 | |
Unfunded Plans [Member] | Change in Plan Assets [Member] | Pension Plans, Defined Benefit [Member] | |||
Change in benefit obligation and Plan Assets: | |||
Fair value of plan assets | $ 0 | $ 0 |
Retirement Benefits Summary for
Retirement Benefits Summary for Plans with an Accumulated Benefit Obligation in Excess of Plan Assets (Details) - USD ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
Other Postretirement Benefit Plans, Defined Benefit [Member] | ||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | ||
Defined Benefit Plan, Plan with Accumulated Benefit Obligation in Excess of Plan Assets, Accumulated Benefit Obligation | $ 208 | $ 198 |
Defined Benefit Plan, Plan with Accumulated Benefit Obligation in Excess of Plan Assets, Plan Assets | 270 | 241 |
Funded Plans [Member] | Pension Plans, Defined Benefit [Member] | ||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | ||
Defined Benefit Plan, Pension Plan with Accumulated Benefit Obligation in Excess of Plan Assets, Projected Benefit Obligation | 0 | 0 |
Defined Benefit Plan, Plan with Accumulated Benefit Obligation in Excess of Plan Assets, Accumulated Benefit Obligation | 1 | 1 |
Defined Benefit Plan, Plan with Accumulated Benefit Obligation in Excess of Plan Assets, Plan Assets | 1 | 1 |
Unfunded Plans [Member] | Pension Plans, Defined Benefit [Member] | ||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | ||
Defined Benefit Plan, Pension Plan with Accumulated Benefit Obligation in Excess of Plan Assets, Projected Benefit Obligation | 31 | 37 |
Defined Benefit Plan, Plan with Accumulated Benefit Obligation in Excess of Plan Assets, Accumulated Benefit Obligation | 31 | 37 |
Defined Benefit Plan, Plan with Accumulated Benefit Obligation in Excess of Plan Assets, Plan Assets | $ 0 | $ 0 |
Retirement Benefits Components
Retirement Benefits Components of Net Periodic Benefit Cost (Details) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Pension Plans, Defined Benefit [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Defined Benefit Plan, Service Cost | $ 0 | $ 0 |
Interest cost | 1 | 1 |
Expected return on plan assets | 0 | 0 |
Prior service cost amortization | 0 | 0 |
Net periodic benefit cost | 1 | 1 |
Other Postretirement Benefit Plans, Defined Benefit [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Defined Benefit Plan, Service Cost | 1 | 1 |
Interest cost | 7 | 5 |
Expected return on plan assets | (10) | (10) |
Prior service cost amortization | 26 | 16 |
Net periodic benefit cost | $ 24 | $ 12 |
Retirement Benefits Weighted-Av
Retirement Benefits Weighted-Average Assumptions Used in Determining Benefit Obligations (Details) | Dec. 31, 2019 | Dec. 31, 2018 |
Pension Plans, Defined Benefit [Member] | ||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | ||
Defined Benefit Plan, Assumptions Used Calculating Benefit Obligation, Discount Rate | 4.07% | 4.02% |
Other Postretirement Benefit Plans, Defined Benefit [Member] | ||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | ||
Defined Benefit Plan, Assumptions Used Calculating Benefit Obligation, Discount Rate | 2.71% | 3.40% |
Retirement Benefits Assumed Hea
Retirement Benefits Assumed Health Care Cost Trend Rates (Details) | Dec. 31, 2019 | Dec. 31, 2018 |
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | ||
Defined Benefit Plan, Health Care Cost Trend Rate Assumed, Next Fiscal Year | 7.25% | 7.15% |
Defined Benefit Plan, Ultimate Health Care Cost Trend Rate | 4.83% | 4.82% |
Retirement Benefits Schedule Of
Retirement Benefits Schedule Of Weighted-Average Assumptions To Determine Defined Benefit Plans And Postretirement Benefit Plans Expense (Details) | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Pension Plans, Defined Benefit [Member] | ||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | ||
Defined Benefit Plan, Assumptions Used Calculating Net Periodic Benefit Cost, Discount Rate | 3.29% | 3.52% |
Expected long term return on assets, tax exempt accounts | 3.26% | 3.26% |
Other Postretirement Benefit Plans, Defined Benefit [Member] | ||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | ||
Defined Benefit Plan, Assumptions Used Calculating Net Periodic Benefit Cost, Discount Rate | 3.76% | 3.51% |
Expected long term return on assets, tax exempt accounts | 7.00% | 6.63% |
Expected long term return on assets, taxable accounts | 4.75% | 4.50% |
Retirement Benefits Fair Value
Retirement Benefits Fair Value of Plan Assets (Details) - USD ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Other Postretirement Benefit Plans, Defined Benefit [Member] | ||||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | ||||
Fair value of plan assets | $ 270 | $ 241 | $ 257 | |
Large Cap US Equitiies | 59.00% | 53.00% | ||
Fixed Income Securities | 40.00% | 46.00% | ||
Cash Fund Investments | 1.00% | 1.00% | ||
Pension Plans, Defined Benefit [Member] | ||||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | ||||
Fair value of plan assets | $ 1 | |||
Large Cap US Equitiies | 100.00% | 100.00% | ||
Cash and Cash Equivalents [Member] | Other Postretirement Benefit Plans, Defined Benefit [Member] | ||||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | ||||
Fair value of plan assets | $ 14 | $ 20 | ||
Mutual Fund [Member] | Other Postretirement Benefit Plans, Defined Benefit [Member] | ||||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | ||||
Fair value of plan assets | [1] | 177 | 144 | |
Mutual Fund [Member] | Pension Plans, Defined Benefit [Member] | ||||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | ||||
Fair value of plan assets | [2] | 1 | 1 | |
Fixed Income Securities [Member] | Other Postretirement Benefit Plans, Defined Benefit [Member] | ||||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | ||||
Fair value of plan assets | 79 | 77 | ||
Fair Value, Inputs, Level 1 [Member] | Other Postretirement Benefit Plans, Defined Benefit [Member] | ||||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | ||||
Fair value of plan assets | 191 | 164 | ||
Fair Value, Inputs, Level 1 [Member] | Cash and Cash Equivalents [Member] | Other Postretirement Benefit Plans, Defined Benefit [Member] | ||||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | ||||
Fair value of plan assets | 14 | 20 | ||
Fair Value, Inputs, Level 1 [Member] | Mutual Fund [Member] | Other Postretirement Benefit Plans, Defined Benefit [Member] | ||||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | ||||
Fair value of plan assets | 177 | 144 | ||
Fair Value, Inputs, Level 1 [Member] | Mutual Fund [Member] | Pension Plans, Defined Benefit [Member] | ||||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | ||||
Fair value of plan assets | 1 | 1 | ||
Fair Value, Inputs, Level 1 [Member] | Fixed Income Securities [Member] | Other Postretirement Benefit Plans, Defined Benefit [Member] | ||||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | ||||
Fair value of plan assets | 0 | 0 | ||
Fair Value, Inputs, Level 2 [Member] | Other Postretirement Benefit Plans, Defined Benefit [Member] | ||||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | ||||
Fair value of plan assets | 79 | 77 | ||
Fair Value, Inputs, Level 2 [Member] | Cash and Cash Equivalents [Member] | Other Postretirement Benefit Plans, Defined Benefit [Member] | ||||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | ||||
Fair value of plan assets | 0 | 0 | ||
Fair Value, Inputs, Level 2 [Member] | Mutual Fund [Member] | Other Postretirement Benefit Plans, Defined Benefit [Member] | ||||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | ||||
Fair value of plan assets | 0 | 0 | ||
Fair Value, Inputs, Level 2 [Member] | Mutual Fund [Member] | Pension Plans, Defined Benefit [Member] | ||||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | ||||
Fair value of plan assets | 0 | 0 | ||
Fair Value, Inputs, Level 2 [Member] | Fixed Income Securities [Member] | Other Postretirement Benefit Plans, Defined Benefit [Member] | ||||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | ||||
Fair value of plan assets | 79 | 77 | ||
Fair Value, Inputs, Level 3 [Member] | Other Postretirement Benefit Plans, Defined Benefit [Member] | ||||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | ||||
Fair value of plan assets | 0 | 0 | ||
Fair Value, Inputs, Level 3 [Member] | Cash and Cash Equivalents [Member] | Other Postretirement Benefit Plans, Defined Benefit [Member] | ||||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | ||||
Fair value of plan assets | 0 | 0 | ||
Fair Value, Inputs, Level 3 [Member] | Mutual Fund [Member] | Other Postretirement Benefit Plans, Defined Benefit [Member] | ||||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | ||||
Fair value of plan assets | 0 | 0 | ||
Fair Value, Inputs, Level 3 [Member] | Mutual Fund [Member] | Pension Plans, Defined Benefit [Member] | ||||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | ||||
Fair value of plan assets | 0 | 0 | ||
Fair Value, Inputs, Level 3 [Member] | Fixed Income Securities [Member] | Other Postretirement Benefit Plans, Defined Benefit [Member] | ||||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | ||||
Fair value of plan assets | $ 0 | $ 0 | ||
[1] | Primarily comprised of approximately 59% equities, 40% fixed income securities and 1% cash as of December 31, 2019 . | |||
[2] | Comprised of approximately 100% equities as of December 31, 2019 . |
Retirement Benefits Expected Fu
Retirement Benefits Expected Future Benefit Payments (Details) $ in Millions | Dec. 31, 2019USD ($) |
Other Postretirement Benefits (Gross, Before Medicare Part D) [Member] | |
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |
2020 | $ 20 |
2021 | 20 |
2022 | 19 |
2023 | 18 |
2024 | 15 |
2025 - 2029 | 67 |
Other Postretirement Benefit Plans, Defined Benefit [Member] | |
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |
2020 | 8 |
Pension Plans, Defined Benefit [Member] | |
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |
2020 | 5 |
Unfunded Plans [Member] | Pension Plans, Defined Benefit [Member] | |
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |
2020 | 5 |
2021 | 5 |
2022 | 4 |
2023 | 4 |
2024 | 3 |
2025 - 2029 | $ 10 |
Related Party Transactions (Nar
Related Party Transactions (Narrative) (Details) - USD ($) $ in Millions | 12 Months Ended | |||
Dec. 31, 2019 | Aug. 19, 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 | $ 268 | $ 440 | ||
ET-ETO Promissory Note B [Member] | ET | ||||
Related Party Transaction [Line Items] | ||||
Notes Receivable, Related Parties | $ 3,710 | |||
Line of Credit Facility, Maximum Borrowing Capacity | 4,250 | |||
SemGroup Intercompany Promissory Note [Member] | ||||
Related Party Transaction [Line Items] | ||||
Notes Receivable, Related Parties | $ 2,320 | |||
Related Party Transaction, Rate | 5.20% | |||
Interest Income, Related Party | $ 191 | |||
ET | ||||
Related Party Transaction [Line Items] | ||||
Notes Payable, Related Parties, Noncurrent | (104) | |||
Maximum [Member] | SemGroup Intercompany Promissory Note [Member] | ||||
Related Party Transaction [Line Items] | ||||
Notes Receivable, Related Parties | $ 2,500 |
Related Party Transactions Rela
Related Party Transactions Related Party - Affiliated Revenues (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Related Party Transaction [Line Items] | |||
Revenues from related companies | $ 492 | $ 431 | $ 303 |
Related Party Transactions Re_2
Related Party Transactions Related Party - Affiliate AR and Affiliate AP (Details) - USD ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
Related Party Transaction [Line Items] | ||
Accounts Receivable, Related Parties, Current | $ 175 | $ 176 |
Accounts Payable, Related Parties, Current | 27 | 119 |
ET | ||
Related Party Transaction [Line Items] | ||
Accounts Receivable, Related Parties, Current | 8 | 65 |
Accounts Payable, Related Parties, Current | 0 | 59 |
FGT | ||
Related Party Transaction [Line Items] | ||
Accounts Receivable, Related Parties, Current | 50 | 25 |
Other | ||
Related Party Transaction [Line Items] | ||
Accounts Receivable, Related Parties, Current | 39 | 44 |
Accounts Payable, Related Parties, Current | 27 | 60 |
Phillips 66 Company [Member] | ||
Related Party Transaction [Line Items] | ||
Accounts Receivable, Related Parties, Current | 36 | 42 |
Traverse Rover LLC [Member] | ||
Related Party Transaction [Line Items] | ||
Accounts Receivable, Related Parties, Current | $ 42 | $ 0 |
Reportable Segments (Segment Ad
Reportable Segments (Segment Adjusted EBITDA) (Details) - USD ($) $ in Millions | 3 Months Ended | 12 Months Ended | ||||||||||
Dec. 31, 2019 | Sep. 30, 2019 | Jun. 30, 2019 | Mar. 31, 2019 | Dec. 31, 2018 | Sep. 30, 2018 | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Segment Adjusted EBITDA | $ 11,191 | $ 9,546 | $ 7,352 | |||||||||
Depreciation, depletion and amortization | (3,124) | (2,843) | (2,541) | |||||||||
Interest expense, net of interest capitalized | (2,257) | (1,709) | (1,575) | |||||||||
Impairment losses | 74 | 431 | 1,039 | |||||||||
Impairment losses | $ (12) | $ (9) | (21) | (378) | ||||||||
Gains (losses) on interest rate derivatives | (241) | 47 | (37) | |||||||||
Non-cash compensation expense | (111) | (105) | (99) | |||||||||
Unrealized gains (losses) on commodity risk management activities | (4) | (11) | 59 | |||||||||
Inventory valuation adjustments | 79 | (85) | 24 | |||||||||
Losses on extinguishments of debt | (2) | (109) | (42) | |||||||||
Adjusted EBITDA related to unconsolidated affiliates | (621) | (655) | (716) | |||||||||
Equity in earnings of unconsolidated affiliates | 298 | 344 | 144 | |||||||||
Impairment of investments in unconsolidated affiliates | 0 | 0 | 313 | |||||||||
Adjusted EBITDA attributable to discontinued operations | 0 | 25 | (223) | |||||||||
Other, net | 252 | 30 | 154 | |||||||||
INCOME FROM CONTINUING OPERATIONS BEFORE INCOME TAX EXPENSE (BENEFIT) | 5,386 | 4,044 | 1,148 | |||||||||
Income tax expense (benefit) from continuing operations | (200) | (5) | 1,804 | |||||||||
Income (Loss) from Continuing Operations, Net of Tax, Attributable to Parent | 971 | $ 1,494 | $ 760 | $ 814 | 5,186 | 4,039 | 2,952 | |||||
Loss from discontinued operations, net of income taxes | 0 | (265) | (177) | |||||||||
Net income | $ 1,400 | $ 1,224 | $ 1,281 | $ 1,281 | 971 | $ 1,492 | $ 734 | $ 577 | 5,186 | 3,774 | 2,775 | |
Intrastate Transportation And Storage [Member] | ||||||||||||
Segment Adjusted EBITDA | 999 | 927 | 626 | |||||||||
Depreciation, depletion and amortization | (184) | (169) | (147) | |||||||||
Impairment losses | 0 | 0 | ||||||||||
Equity in earnings of unconsolidated affiliates | 18 | 19 | (156) | |||||||||
Interstate Transportation and Storage [Member] | ||||||||||||
Segment Adjusted EBITDA | 1,792 | 1,680 | 1,274 | |||||||||
Depreciation, depletion and amortization | (387) | (334) | (254) | |||||||||
Impairment losses | $ (262) | (12) | 0 | |||||||||
Equity in earnings of unconsolidated affiliates | 222 | 227 | 236 | |||||||||
Midstream [Member] | ||||||||||||
Segment Adjusted EBITDA | 1,599 | 1,627 | 1,481 | |||||||||
Depreciation, depletion and amortization | (1,065) | (1,006) | (954) | |||||||||
Impairment losses | $ 378 | (9) | (378) | |||||||||
Equity in earnings of unconsolidated affiliates | 20 | 26 | 20 | |||||||||
NGL and refined products transportation and services [Member] | ||||||||||||
Segment Adjusted EBITDA | 2,663 | 1,979 | 1,641 | |||||||||
Depreciation, depletion and amortization | (613) | (466) | (401) | |||||||||
Impairment losses | (79) | 0 | 0 | |||||||||
Equity in earnings of unconsolidated affiliates | 51 | 64 | 33 | |||||||||
Crude oil transportation and services [Member] | ||||||||||||
Segment Adjusted EBITDA | 2,949 | 2,330 | 1,379 | |||||||||
Depreciation, depletion and amortization | (430) | (445) | (402) | |||||||||
Impairment losses | 0 | 0 | ||||||||||
Equity in earnings of unconsolidated affiliates | (3) | 6 | 4 | |||||||||
Investment In Sunoco LP [Member] | ||||||||||||
Segment Adjusted EBITDA | 665 | 638 | 732 | |||||||||
Depreciation, depletion and amortization | (181) | (167) | (169) | |||||||||
Impairment losses | (387) | 0 | 0 | |||||||||
Investment In USAC [Member] | ||||||||||||
Segment Adjusted EBITDA | 420 | 289 | 0 | |||||||||
Depreciation, depletion and amortization | (231) | (169) | 0 | |||||||||
Impairment losses | 0 | 0 | ||||||||||
Other Segments [Member] | ||||||||||||
Segment Adjusted EBITDA | 104 | 76 | 219 | |||||||||
Depreciation, depletion and amortization | (33) | (87) | (214) | |||||||||
Impairment losses | $ (452) | 0 | 0 | |||||||||
Equity in earnings of unconsolidated affiliates | $ (10) | $ 2 | $ 7 |
Reportable Segments (Financial
Reportable Segments (Financial Information by Segment) (Details) - USD ($) $ in Millions | 3 Months Ended | 12 Months Ended | ||||||||||
Dec. 31, 2019 | Sep. 30, 2019 | Jun. 30, 2019 | Mar. 31, 2019 | Dec. 31, 2018 | Sep. 30, 2018 | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | ||
Advances to and investments in unconsolidated affiliates | $ 3,018 | $ 2,636 | $ 3,018 | $ 2,636 | $ 2,698 | |||||||
Property, Plant and Equipment, Additions | [1] | 5,254 | 5,630 | 6,006 | ||||||||
Total assets | 98,525 | 88,442 | 98,525 | 88,442 | 86,484 | |||||||
Equity in earnings of unconsolidated affiliates | 298 | 344 | 144 | |||||||||
Depreciation, depletion and amortization | 3,124 | 2,843 | 2,541 | |||||||||
Cost of products sold | 39,603 | 41,658 | 30,966 | |||||||||
Revenues | 13,539 | $ 13,495 | $ 13,877 | $ 13,121 | 13,573 | $ 14,514 | $ 14,118 | $ 11,882 | 54,032 | 54,087 | 40,523 | |
Intrastate Transportation And Storage [Member] | ||||||||||||
Advances to and investments in unconsolidated affiliates | 88 | 83 | 88 | 83 | 85 | |||||||
Property, Plant and Equipment, Additions | [1] | 124 | 344 | 175 | ||||||||
Total assets | 6,648 | 6,365 | 6,648 | 6,365 | 5,020 | |||||||
Equity in earnings of unconsolidated affiliates | 18 | 19 | (156) | |||||||||
Depreciation, depletion and amortization | 184 | 169 | 147 | |||||||||
Cost of products sold | 1,909 | 2,665 | 2,327 | |||||||||
Revenues | 3,099 | 3,737 | 3,083 | |||||||||
Interstate Transportation and Storage [Member] | ||||||||||||
Advances to and investments in unconsolidated affiliates | 2,524 | 2,070 | 2,524 | 2,070 | 2,118 | |||||||
Property, Plant and Equipment, Additions | [1] | 375 | 812 | 728 | ||||||||
Total assets | 18,111 | 15,081 | 18,111 | 15,081 | 15,316 | |||||||
Equity in earnings of unconsolidated affiliates | 222 | 227 | 236 | |||||||||
Depreciation, depletion and amortization | 387 | 334 | 254 | |||||||||
Revenues | 1,963 | 1,682 | 1,131 | |||||||||
Midstream [Member] | ||||||||||||
Advances to and investments in unconsolidated affiliates | 112 | 124 | 112 | 124 | 126 | |||||||
Property, Plant and Equipment, Additions | [1] | 826 | 1,161 | 1,308 | ||||||||
Total assets | 20,070 | 19,745 | 20,070 | 19,745 | 20,004 | |||||||
Equity in earnings of unconsolidated affiliates | 20 | 26 | 20 | |||||||||
Depreciation, depletion and amortization | 1,065 | 1,006 | 954 | |||||||||
Cost of products sold | 3,570 | 5,145 | 4,761 | |||||||||
Revenues | 6,019 | 7,522 | 6,943 | |||||||||
NGL and refined products transportation and services [Member] | ||||||||||||
Advances to and investments in unconsolidated affiliates | 243 | 243 | 243 | 243 | 234 | |||||||
Property, Plant and Equipment, Additions | [1] | 2,976 | 2,381 | 2,971 | ||||||||
Total assets | 19,145 | 18,267 | 19,145 | 18,267 | 17,600 | |||||||
Equity in earnings of unconsolidated affiliates | 51 | 64 | 33 | |||||||||
Depreciation, depletion and amortization | 613 | 466 | 401 | |||||||||
Cost of products sold | 8,393 | 8,462 | 6,508 | |||||||||
Revenues | 11,641 | 11,123 | 8,648 | |||||||||
Crude oil transportation and services [Member] | ||||||||||||
Advances to and investments in unconsolidated affiliates | 24 | 28 | 24 | 28 | 22 | |||||||
Property, Plant and Equipment, Additions | [1] | 392 | 474 | 453 | ||||||||
Total assets | 18,915 | 18,022 | 18,915 | 18,022 | 17,730 | |||||||
Equity in earnings of unconsolidated affiliates | (3) | 6 | 4 | |||||||||
Depreciation, depletion and amortization | 430 | 445 | 402 | |||||||||
Cost of products sold | 14,649 | 14,439 | 9,826 | |||||||||
Revenues | 18,307 | 17,332 | 11,703 | |||||||||
Other Segments [Member] | ||||||||||||
Advances to and investments in unconsolidated affiliates | 27 | 88 | 27 | 88 | 113 | |||||||
Property, Plant and Equipment, Additions | [1] | 213 | 150 | 268 | ||||||||
Total assets | 6,468 | 2,308 | 6,468 | 2,308 | 2,470 | |||||||
Equity in earnings of unconsolidated affiliates | (10) | 2 | 7 | |||||||||
Depreciation, depletion and amortization | 33 | 87 | 214 | |||||||||
Cost of products sold | 1,496 | 2,006 | 2,509 | |||||||||
Revenues | 1,660 | 2,228 | 2,901 | |||||||||
Investment In Sunoco LP [Member] | ||||||||||||
Property, Plant and Equipment, Additions | [1] | 148 | 103 | 103 | ||||||||
Total assets | 5,438 | 4,879 | 5,438 | 4,879 | 8,344 | |||||||
Depreciation, depletion and amortization | 181 | 167 | 169 | |||||||||
Cost of products sold | 15,380 | 15,872 | 10,615 | |||||||||
Revenues | 16,596 | 16,994 | 11,723 | |||||||||
Investment In USAC [Member] | ||||||||||||
Property, Plant and Equipment, Additions | [1] | 200 | 205 | 0 | ||||||||
Total assets | $ 3,730 | $ 3,775 | 3,730 | 3,775 | 0 | |||||||
Depreciation, depletion and amortization | 231 | 169 | 0 | |||||||||
Cost of products sold | 91 | 67 | 0 | |||||||||
Revenues | 698 | 508 | 0 | |||||||||
Intersegment Eliminations [Member] | ||||||||||||
Cost of products sold | (5,885) | (6,998) | (5,580) | |||||||||
Revenues | (5,951) | (7,039) | (5,609) | |||||||||
External Customers [Member] | Intrastate Transportation And Storage [Member] | ||||||||||||
Revenues | 2,749 | 3,428 | 2,891 | |||||||||
External Customers [Member] | Interstate Transportation and Storage [Member] | ||||||||||||
Revenues | 1,941 | 1,664 | 1,112 | |||||||||
External Customers [Member] | Midstream [Member] | ||||||||||||
Revenues | 2,268 | 2,090 | 2,510 | |||||||||
External Customers [Member] | NGL and refined products transportation and services [Member] | ||||||||||||
Revenues | 9,920 | 10,119 | 7,885 | |||||||||
External Customers [Member] | Crude oil transportation and services [Member] | ||||||||||||
Revenues | 18,307 | 17,236 | 11,672 | |||||||||
External Customers [Member] | Other Segments [Member] | ||||||||||||
Revenues | 1,579 | 2,073 | 2,740 | |||||||||
External Customers [Member] | Investment In Sunoco LP [Member] | ||||||||||||
Revenues | 16,590 | 16,982 | 11,713 | |||||||||
External Customers [Member] | Investment In USAC [Member] | ||||||||||||
Revenues | 678 | 495 | 0 | |||||||||
Intersegment [Member] | Intrastate Transportation And Storage [Member] | ||||||||||||
Revenues | 350 | 309 | 192 | |||||||||
Intersegment [Member] | Interstate Transportation and Storage [Member] | ||||||||||||
Revenues | 22 | 18 | 19 | |||||||||
Intersegment [Member] | Midstream [Member] | ||||||||||||
Revenues | 3,751 | 5,432 | 4,433 | |||||||||
Intersegment [Member] | NGL and refined products transportation and services [Member] | ||||||||||||
Revenues | 1,721 | 1,004 | 763 | |||||||||
Intersegment [Member] | Crude oil transportation and services [Member] | ||||||||||||
Revenues | 0 | 96 | 31 | |||||||||
Intersegment [Member] | Other Segments [Member] | ||||||||||||
Revenues | 81 | 155 | 161 | |||||||||
Intersegment [Member] | Investment In Sunoco LP [Member] | ||||||||||||
Revenues | 6 | 12 | 10 | |||||||||
Intersegment [Member] | Investment In USAC [Member] | ||||||||||||
Revenues | $ 20 | $ 13 | $ 0 | |||||||||
[1] | Excluding acquisitions, net of contributions in aid of construction costs (capital expenditures related to the Partnership’s proportionate ownership on an accrual basis). |
Quarterly Financial Data Quarte
Quarterly Financial Data Quarterly Financial Data Table (Details) - USD ($) $ in Millions | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2019 | Sep. 30, 2019 | Jun. 30, 2019 | Mar. 31, 2019 | Dec. 31, 2018 | Sep. 30, 2018 | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Quarterly Financial Data [Abstract] | |||||||||||
Revenues | $ 13,539 | $ 13,495 | $ 13,877 | $ 13,121 | $ 13,573 | $ 14,514 | $ 14,118 | $ 11,882 | $ 54,032 | $ 54,087 | $ 40,523 |
Operating income | 1,696 | 1,834 | 1,827 | 1,928 | 1,444 | 1,715 | 1,138 | 1,105 | 7,285 | 5,402 | 2,765 |
Income (Loss) from Continuing Operations, Net of Tax, Attributable to Parent | 971 | 1,494 | 760 | 814 | 5,186 | 4,039 | 2,952 | ||||
Net income | 1,400 | 1,224 | 1,281 | 1,281 | 971 | 1,492 | 734 | 577 | 5,186 | 3,774 | $ 2,775 |
Net income attributable to partners | $ 1,119 | $ 951 | $ 1,002 | $ 1,012 | $ 743 | $ 1,135 | $ 432 | $ 715 | $ 4,084 | $ 3,025 |
Quarterly Financial Data Quar_2
Quarterly Financial Data Quarterly Narrative (Details) - USD ($) $ in Millions | 3 Months Ended | 12 Months Ended | |||
Sep. 30, 2019 | Dec. 31, 2018 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Inventory valuation adjustments | $ (79) | $ 85 | $ (24) | ||
Impairment losses | 74 | 431 | 1,039 | ||
Impairment losses | $ 12 | $ 9 | 21 | 378 | |
Impairment of investments in unconsolidated affiliates | $ 0 | $ 0 | $ 313 |
Guarantor Financial Informati_3
Guarantor Financial Information (Details) - USD ($) $ in Millions | 3 Months Ended | 12 Months Ended | |||||||||||
Dec. 31, 2019 | Sep. 30, 2019 | Jun. 30, 2019 | Mar. 31, 2019 | Dec. 31, 2018 | Sep. 30, 2018 | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | Jan. 01, 2019 | Dec. 31, 2016 | |
Training Section [Abstract] | |||||||||||||
Net Cash Provided by (Used in) Operating Activities | $ 8,251 | $ 7,559 | $ 4,817 | ||||||||||
Revenues | $ 13,539 | $ 13,495 | $ 13,877 | $ 13,121 | $ 13,573 | $ 14,514 | $ 14,118 | $ 11,882 | 54,032 | 54,087 | 40,523 | ||
Cash and cash equivalents | 253 | 418 | 253 | 418 | 335 | $ 465 | |||||||
Other current assets | 282 | 356 | 282 | 356 | |||||||||
Property, Plant and Equipment, Net | 69,971 | 66,655 | 69,971 | 66,655 | $ 66,654 | ||||||||
Advances to and investments in unconsolidated affiliates | 3,018 | 2,636 | 3,018 | 2,636 | 2,698 | ||||||||
Other non-current assets, net | 976 | 1,006 | 976 | 1,006 | |||||||||
Assets | 98,525 | 88,442 | 98,525 | 88,442 | 86,484 | ||||||||
Liabilities, Current | 7,081 | 9,297 | 7,081 | 9,297 | |||||||||
Noncontrolling interests | 8,018 | 7,903 | 8,018 | 7,903 | |||||||||
Partners' Capital | 27,289 | 28,718 | 27,289 | 28,718 | |||||||||
Liabilities and Equity | 98,525 | 88,442 | 98,525 | 88,442 | |||||||||
Costs and Expenses | 46,747 | 48,685 | 37,758 | ||||||||||
Operating Income (Loss) | 1,696 | 1,834 | 1,827 | 1,928 | 1,444 | 1,715 | 1,138 | 1,105 | 7,285 | 5,402 | 2,765 | ||
Interest Expense | (2,257) | (1,709) | (1,575) | ||||||||||
Equity in earnings of unconsolidated affiliates | 298 | 344 | 144 | ||||||||||
Losses on extinguishments of debt | (2) | (109) | (42) | ||||||||||
Impairment of investments in unconsolidated affiliates | 0 | 0 | (313) | ||||||||||
Gains (losses) on interest rate derivatives | (241) | 47 | (37) | ||||||||||
Other, net | 303 | 69 | 206 | ||||||||||
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest | 5,386 | 4,044 | 1,148 | ||||||||||
Income tax expense (benefit) from continuing operations | 200 | 5 | (1,804) | ||||||||||
Income (Loss) from Continuing Operations, Net of Tax, Attributable to Parent | 971 | 1,494 | 760 | 814 | 5,186 | 4,039 | 2,952 | ||||||
Loss from discontinued operations, net of income taxes | 0 | (265) | (177) | ||||||||||
Net income | 1,400 | $ 1,224 | $ 1,281 | $ 1,281 | 971 | $ 1,492 | $ 734 | $ 577 | 5,186 | 3,774 | 2,775 | ||
Less: Net income attributable to noncontrolling interests | 1,051 | 715 | 420 | ||||||||||
Less: Net income attributable to redeemable noncontrolling interests | 51 | 39 | 0 | ||||||||||
Less: Net income (loss) attributable to predecessor | 0 | (5) | 274 | ||||||||||
Net Income (Loss) Attributable to Parent | 4,084 | 3,025 | 2,081 | ||||||||||
Other Comprehensive Income (Loss), Net of Tax | 24 | (43) | (5) | ||||||||||
Comprehensive Income (Loss), Net of Tax, Including Portion Attributable to Noncontrolling Interest | 5,210 | 3,731 | 2,770 | ||||||||||
Less: Comprehensive income attributable to noncontrolling interests | 1,051 | 715 | 420 | ||||||||||
Less: Comprehensive income attributable to redeemable noncontrolling interests | 51 | 39 | 0 | ||||||||||
Less: Comprehensive income (loss) attributable to predecessor | 0 | (5) | 274 | ||||||||||
Comprehensive Income (Loss), Net of Tax, Attributable to Parent | 4,108 | 2,982 | 2,076 | ||||||||||
Net Cash Provided by (Used in) Investing Activities | (6,123) | (6,902) | (5,612) | ||||||||||
Net Cash Provided by (Used in) Financing Activities | (2,293) | (3,308) | 572 | ||||||||||
Net Cash Provided by (Used in) Discontinued Operations | 0 | 2,734 | 93 | ||||||||||
Cash and Cash Equivalents, Period Increase (Decrease) | (165) | 83 | (130) | ||||||||||
Pro Forma [Member] | |||||||||||||
Training Section [Abstract] | |||||||||||||
Net Cash Provided by (Used in) Operating Activities | 8,251 | 7,559 | 4,817 | ||||||||||
Revenues | 54,087 | 40,523 | |||||||||||
Cash and cash equivalents | 253 | 418 | 253 | 418 | 335 | 465 | |||||||
Other current assets | 6,907 | 6,402 | 6,907 | 6,402 | |||||||||
Property, Plant and Equipment, Net | 69,971 | 66,655 | 69,971 | 66,655 | |||||||||
Advances to and investments in unconsolidated affiliates | 3,018 | 2,636 | 3,018 | 2,636 | |||||||||
Other non-current assets, net | 18,376 | 12,331 | 18,376 | 12,331 | |||||||||
Assets | 98,525 | 88,442 | 98,525 | 88,442 | |||||||||
Liabilities, Current | 7,081 | 9,297 | 7,081 | 9,297 | |||||||||
Liabilities, Noncurrent | 56,137 | 42,524 | 56,137 | 42,524 | |||||||||
Noncontrolling interests | 8,018 | 7,903 | 8,018 | 7,903 | |||||||||
Partners' Capital | 27,289 | 28,718 | 27,289 | 28,718 | |||||||||
Liabilities and Equity | 98,525 | 88,442 | 98,525 | 88,442 | |||||||||
Costs and Expenses | 48,685 | 37,758 | |||||||||||
Operating Income (Loss) | 5,402 | 2,765 | |||||||||||
Interest Expense | (1,709) | (1,575) | |||||||||||
Equity in earnings of unconsolidated affiliates | 344 | 144 | |||||||||||
Losses on extinguishments of debt | (109) | (42) | |||||||||||
Impairment of investments in unconsolidated affiliates | (313) | ||||||||||||
Gains (losses) on interest rate derivatives | 47 | (37) | |||||||||||
Other, net | 69 | 206 | |||||||||||
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest | 4,044 | 1,148 | |||||||||||
Income tax expense (benefit) from continuing operations | 5 | (1,804) | |||||||||||
Income (Loss) from Continuing Operations, Net of Tax, Attributable to Parent | 4,039 | 2,952 | |||||||||||
Loss from discontinued operations, net of income taxes | (265) | (177) | |||||||||||
Net income | 3,774 | 2,775 | |||||||||||
Less: Net income attributable to noncontrolling interests | 715 | 420 | |||||||||||
Less: Net income attributable to redeemable noncontrolling interests | 39 | ||||||||||||
Less: Net income (loss) attributable to predecessor | (5) | 274 | |||||||||||
Net Income (Loss) Attributable to Parent | 3,025 | 2,081 | |||||||||||
Other Comprehensive Income (Loss), Net of Tax | (43) | (5) | |||||||||||
Comprehensive Income (Loss), Net of Tax, Including Portion Attributable to Noncontrolling Interest | 3,731 | 2,770 | |||||||||||
Less: Comprehensive income attributable to noncontrolling interests | 715 | 420 | |||||||||||
Less: Comprehensive income attributable to redeemable noncontrolling interests | 39 | ||||||||||||
Less: Comprehensive income (loss) attributable to predecessor | (5) | 274 | |||||||||||
Comprehensive Income (Loss), Net of Tax, Attributable to Parent | 2,982 | 2,076 | |||||||||||
Net Cash Provided by (Used in) Investing Activities | (6,123) | (6,902) | (5,612) | ||||||||||
Net Cash Provided by (Used in) Financing Activities | (2,293) | (3,308) | 572 | ||||||||||
Net Cash Provided by (Used in) Discontinued Operations | 2,734 | 93 | |||||||||||
Cash and Cash Equivalents, Period Increase (Decrease) | (165) | 83 | (130) | ||||||||||
Non-Guarantor Subsidiaries [Member] | |||||||||||||
Training Section [Abstract] | |||||||||||||
Revenues | 54,032 | ||||||||||||
Costs and Expenses | 46,747 | ||||||||||||
Operating Income (Loss) | 7,285 | ||||||||||||
Interest Expense | (271) | ||||||||||||
Equity in earnings of unconsolidated affiliates | 298 | ||||||||||||
Losses on extinguishments of debt | (2) | ||||||||||||
Gains (losses) on interest rate derivatives | 0 | ||||||||||||
Other, net | (14) | ||||||||||||
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest | 7,296 | ||||||||||||
Income tax expense (benefit) from continuing operations | 200 | ||||||||||||
Net income | 7,096 | ||||||||||||
Less: Net income attributable to noncontrolling interests | 1,051 | ||||||||||||
Less: Net income attributable to redeemable noncontrolling interests | 51 | ||||||||||||
Net Income (Loss) Attributable to Parent | 5,994 | ||||||||||||
Other Comprehensive Income (Loss), Net of Tax | 24 | ||||||||||||
Comprehensive Income (Loss), Net of Tax, Including Portion Attributable to Noncontrolling Interest | 7,120 | ||||||||||||
Less: Comprehensive income attributable to noncontrolling interests | 1,051 | ||||||||||||
Less: Comprehensive income attributable to redeemable noncontrolling interests | 51 | ||||||||||||
Comprehensive Income (Loss), Net of Tax, Attributable to Parent | 6,018 | ||||||||||||
Non-Guarantor Subsidiaries [Member] | Pro Forma [Member] | |||||||||||||
Training Section [Abstract] | |||||||||||||
Net Cash Provided by (Used in) Operating Activities | 8,988 | 5,641 | 5,013 | ||||||||||
Revenues | 54,087 | 40,523 | |||||||||||
Cash and cash equivalents | 253 | 418 | 253 | 418 | 337 | 423 | |||||||
Other current assets | 45,997 | 73,336 | 45,997 | 73,336 | |||||||||
Property, Plant and Equipment, Net | 69,971 | 66,655 | 69,971 | 66,655 | |||||||||
Advances to and investments in unconsolidated affiliates | 3,033 | 2,636 | 3,033 | 2,636 | |||||||||
Other non-current assets, net | 12,459 | 12,244 | 12,459 | 12,244 | |||||||||
Assets | 131,713 | 155,289 | 131,713 | 155,289 | |||||||||
Liabilities, Current | 48,350 | 80,731 | 48,350 | 80,731 | |||||||||
Liabilities, Noncurrent | 13,753 | 10,132 | 13,753 | 10,132 | |||||||||
Noncontrolling interests | 8,018 | 7,903 | 8,018 | 7,903 | |||||||||
Partners' Capital | 61,592 | 56,523 | 61,592 | 56,523 | |||||||||
Liabilities and Equity | 131,713 | 155,289 | 131,713 | 155,289 | |||||||||
Costs and Expenses | 48,685 | 37,757 | |||||||||||
Operating Income (Loss) | 5,402 | 2,766 | |||||||||||
Interest Expense | (337) | (1,419) | |||||||||||
Equity in earnings of unconsolidated affiliates | 344 | 144 | |||||||||||
Losses on extinguishments of debt | (109) | (42) | |||||||||||
Impairment of investments in unconsolidated affiliates | (313) | ||||||||||||
Gains (losses) on interest rate derivatives | 0 | (37) | |||||||||||
Other, net | 69 | 207 | |||||||||||
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest | 5,369 | 1,306 | |||||||||||
Income tax expense (benefit) from continuing operations | 5 | (1,804) | |||||||||||
Income (Loss) from Continuing Operations, Net of Tax, Attributable to Parent | 5,364 | 3,110 | |||||||||||
Loss from discontinued operations, net of income taxes | (265) | (177) | |||||||||||
Net income | 5,099 | 2,933 | |||||||||||
Less: Net income attributable to noncontrolling interests | 715 | 420 | |||||||||||
Less: Net income attributable to redeemable noncontrolling interests | 39 | ||||||||||||
Less: Net income (loss) attributable to predecessor | (5) | 274 | |||||||||||
Net Income (Loss) Attributable to Parent | 4,350 | 2,239 | |||||||||||
Other Comprehensive Income (Loss), Net of Tax | (43) | (5) | |||||||||||
Comprehensive Income (Loss), Net of Tax, Including Portion Attributable to Noncontrolling Interest | 5,056 | 2,928 | |||||||||||
Less: Comprehensive income attributable to noncontrolling interests | 715 | 420 | |||||||||||
Less: Comprehensive income attributable to redeemable noncontrolling interests | 39 | ||||||||||||
Less: Comprehensive income (loss) attributable to predecessor | (5) | 274 | |||||||||||
Comprehensive Income (Loss), Net of Tax, Attributable to Parent | 4,307 | 2,234 | |||||||||||
Net Cash Provided by (Used in) Investing Activities | (8,188) | (5,619) | (5,811) | ||||||||||
Net Cash Provided by (Used in) Financing Activities | (965) | (2,675) | 619 | ||||||||||
Net Cash Provided by (Used in) Discontinued Operations | 2,734 | 93 | |||||||||||
Cash and Cash Equivalents, Period Increase (Decrease) | (165) | 81 | (86) | ||||||||||
Subsidiary Issuer [Member] | |||||||||||||
Training Section [Abstract] | |||||||||||||
Revenues | 0 | ||||||||||||
Costs and Expenses | 0 | ||||||||||||
Operating Income (Loss) | 0 | ||||||||||||
Interest Expense | (374) | ||||||||||||
Equity in earnings of unconsolidated affiliates | 1,938 | ||||||||||||
Losses on extinguishments of debt | 0 | ||||||||||||
Gains (losses) on interest rate derivatives | 0 | ||||||||||||
Other, net | 3 | ||||||||||||
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest | 1,567 | ||||||||||||
Income tax expense (benefit) from continuing operations | 0 | ||||||||||||
Net income | 1,567 | ||||||||||||
Less: Net income attributable to noncontrolling interests | 0 | ||||||||||||
Less: Net income attributable to redeemable noncontrolling interests | |||||||||||||
Net Income (Loss) Attributable to Parent | 1,567 | ||||||||||||
Other Comprehensive Income (Loss), Net of Tax | 0 | ||||||||||||
Comprehensive Income (Loss), Net of Tax, Including Portion Attributable to Noncontrolling Interest | 1,567 | ||||||||||||
Less: Comprehensive income attributable to noncontrolling interests | 0 | ||||||||||||
Less: Comprehensive income attributable to redeemable noncontrolling interests | |||||||||||||
Comprehensive Income (Loss), Net of Tax, Attributable to Parent | 1,567 | ||||||||||||
Subsidiary Issuer [Member] | Pro Forma [Member] | |||||||||||||
Training Section [Abstract] | |||||||||||||
Net Cash Provided by (Used in) Operating Activities | 2,732 | 1,521 | 1,047 | ||||||||||
Revenues | 0 | 0 | |||||||||||
Cash and cash equivalents | 0 | 0 | 0 | 0 | (2) | 42 | |||||||
Other current assets | 44,047 | 36,889 | 44,047 | 36,889 | |||||||||
Property, Plant and Equipment, Net | 0 | 0 | 0 | 0 | |||||||||
Advances to and investments in unconsolidated affiliates | 15,045 | 13,090 | 15,045 | 13,090 | |||||||||
Other non-current assets, net | 131 | 75 | 131 | 75 | |||||||||
Assets | 59,223 | 50,054 | 59,223 | 50,054 | |||||||||
Liabilities, Current | 41,148 | 33,517 | 41,148 | 33,517 | |||||||||
Liabilities, Noncurrent | 7,602 | 7,605 | 7,602 | 7,605 | |||||||||
Noncontrolling interests | 0 | 0 | 0 | 0 | |||||||||
Partners' Capital | 10,473 | 8,932 | 10,473 | 8,932 | |||||||||
Liabilities and Equity | 59,223 | 50,054 | 59,223 | 50,054 | |||||||||
Costs and Expenses | 0 | 1 | |||||||||||
Operating Income (Loss) | 0 | (1) | |||||||||||
Interest Expense | (176) | (156) | |||||||||||
Equity in earnings of unconsolidated affiliates | 1,430 | 1,242 | |||||||||||
Losses on extinguishments of debt | 0 | 0 | |||||||||||
Impairment of investments in unconsolidated affiliates | 0 | ||||||||||||
Gains (losses) on interest rate derivatives | 0 | 0 | |||||||||||
Other, net | 0 | 0 | |||||||||||
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest | 1,254 | 1,085 | |||||||||||
Income tax expense (benefit) from continuing operations | 0 | 0 | |||||||||||
Income (Loss) from Continuing Operations, Net of Tax, Attributable to Parent | 1,254 | 1,085 | |||||||||||
Loss from discontinued operations, net of income taxes | 0 | 0 | |||||||||||
Net income | 1,254 | 1,085 | |||||||||||
Less: Net income attributable to noncontrolling interests | 0 | 0 | |||||||||||
Less: Net income attributable to redeemable noncontrolling interests | 0 | ||||||||||||
Less: Net income (loss) attributable to predecessor | 0 | 0 | |||||||||||
Net Income (Loss) Attributable to Parent | 1,254 | 1,085 | |||||||||||
Other Comprehensive Income (Loss), Net of Tax | 0 | 0 | |||||||||||
Comprehensive Income (Loss), Net of Tax, Including Portion Attributable to Noncontrolling Interest | 1,254 | 1,085 | |||||||||||
Less: Comprehensive income attributable to noncontrolling interests | 0 | 0 | |||||||||||
Less: Comprehensive income attributable to redeemable noncontrolling interests | 0 | ||||||||||||
Less: Comprehensive income (loss) attributable to predecessor | 0 | 0 | |||||||||||
Comprehensive Income (Loss), Net of Tax, Attributable to Parent | 1,254 | 1,085 | |||||||||||
Net Cash Provided by (Used in) Investing Activities | (2,732) | (1,519) | (1,368) | ||||||||||
Net Cash Provided by (Used in) Financing Activities | 0 | 0 | 277 | ||||||||||
Net Cash Provided by (Used in) Discontinued Operations | 0 | 0 | |||||||||||
Cash and Cash Equivalents, Period Increase (Decrease) | 0 | 2 | (44) | ||||||||||
Adjustments And Eliminations [Member] | |||||||||||||
Training Section [Abstract] | |||||||||||||
Revenues | 0 | ||||||||||||
Costs and Expenses | 0 | ||||||||||||
Operating Income (Loss) | 0 | ||||||||||||
Interest Expense | 0 | ||||||||||||
Equity in earnings of unconsolidated affiliates | (7,561) | ||||||||||||
Losses on extinguishments of debt | |||||||||||||
Gains (losses) on interest rate derivatives | 0 | ||||||||||||
Other, net | 0 | ||||||||||||
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest | (7,561) | ||||||||||||
Income tax expense (benefit) from continuing operations | 0 | ||||||||||||
Net income | (7,561) | ||||||||||||
Less: Net income attributable to noncontrolling interests | 0 | ||||||||||||
Less: Net income attributable to redeemable noncontrolling interests | |||||||||||||
Net Income (Loss) Attributable to Parent | (7,561) | ||||||||||||
Other Comprehensive Income (Loss), Net of Tax | 0 | ||||||||||||
Comprehensive Income (Loss), Net of Tax, Including Portion Attributable to Noncontrolling Interest | (7,561) | ||||||||||||
Less: Comprehensive income attributable to noncontrolling interests | 0 | ||||||||||||
Less: Comprehensive income attributable to redeemable noncontrolling interests | |||||||||||||
Comprehensive Income (Loss), Net of Tax, Attributable to Parent | (7,561) | ||||||||||||
Adjustments And Eliminations [Member] | Pro Forma [Member] | |||||||||||||
Training Section [Abstract] | |||||||||||||
Net Cash Provided by (Used in) Operating Activities | (6,841) | (3,644) | (3,807) | ||||||||||
Revenues | 0 | 0 | |||||||||||
Cash and cash equivalents | 0 | 0 | 0 | 0 | 0 | 0 | |||||||
Other current assets | (88,042) | (107,893) | (88,042) | (107,893) | |||||||||
Property, Plant and Equipment, Net | 0 | 0 | 0 | 0 | |||||||||
Advances to and investments in unconsolidated affiliates | (72,443) | (64,966) | (72,443) | (64,966) | |||||||||
Other non-current assets, net | 0 | 0 | 0 | 0 | |||||||||
Assets | (160,485) | (172,859) | (160,485) | (172,859) | |||||||||
Liabilities, Current | (85,811) | (108,381) | (85,811) | (108,381) | |||||||||
Liabilities, Noncurrent | 0 | 0 | 0 | 0 | |||||||||
Noncontrolling interests | 0 | 0 | 0 | 0 | |||||||||
Partners' Capital | (74,674) | (64,478) | (74,674) | (64,478) | |||||||||
Liabilities and Equity | (160,485) | (172,859) | (160,485) | (172,859) | |||||||||
Costs and Expenses | 0 | 0 | |||||||||||
Operating Income (Loss) | 0 | 0 | |||||||||||
Interest Expense | 0 | 0 | |||||||||||
Equity in earnings of unconsolidated affiliates | (5,600) | (3,806) | |||||||||||
Losses on extinguishments of debt | 0 | 0 | |||||||||||
Impairment of investments in unconsolidated affiliates | 0 | ||||||||||||
Gains (losses) on interest rate derivatives | 0 | 0 | |||||||||||
Other, net | 0 | (1) | |||||||||||
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest | (5,600) | (3,807) | |||||||||||
Income tax expense (benefit) from continuing operations | 0 | 0 | |||||||||||
Income (Loss) from Continuing Operations, Net of Tax, Attributable to Parent | (5,600) | (3,807) | |||||||||||
Loss from discontinued operations, net of income taxes | 0 | 0 | |||||||||||
Net income | (5,600) | (3,807) | |||||||||||
Less: Net income attributable to noncontrolling interests | 0 | 0 | |||||||||||
Less: Net income attributable to redeemable noncontrolling interests | 0 | ||||||||||||
Less: Net income (loss) attributable to predecessor | 0 | 0 | |||||||||||
Net Income (Loss) Attributable to Parent | (5,600) | (3,807) | |||||||||||
Other Comprehensive Income (Loss), Net of Tax | 0 | 0 | |||||||||||
Comprehensive Income (Loss), Net of Tax, Including Portion Attributable to Noncontrolling Interest | (5,600) | (3,807) | |||||||||||
Less: Comprehensive income attributable to noncontrolling interests | 0 | 0 | |||||||||||
Less: Comprehensive income attributable to redeemable noncontrolling interests | 0 | ||||||||||||
Less: Comprehensive income (loss) attributable to predecessor | 0 | 0 | |||||||||||
Comprehensive Income (Loss), Net of Tax, Attributable to Parent | (5,600) | (3,807) | |||||||||||
Net Cash Provided by (Used in) Investing Activities | 6,841 | 3,644 | 3,807 | ||||||||||
Net Cash Provided by (Used in) Financing Activities | 0 | 0 | 0 | ||||||||||
Net Cash Provided by (Used in) Discontinued Operations | 0 | 0 | |||||||||||
Cash and Cash Equivalents, Period Increase (Decrease) | 0 | 0 | 0 | ||||||||||
Parent Guarantor [Member] | |||||||||||||
Training Section [Abstract] | |||||||||||||
Revenues | 0 | ||||||||||||
Costs and Expenses | 0 | ||||||||||||
Operating Income (Loss) | 0 | ||||||||||||
Interest Expense | (1,612) | ||||||||||||
Equity in earnings of unconsolidated affiliates | 5,623 | ||||||||||||
Losses on extinguishments of debt | 0 | ||||||||||||
Gains (losses) on interest rate derivatives | (241) | ||||||||||||
Other, net | 314 | ||||||||||||
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest | 4,084 | ||||||||||||
Income tax expense (benefit) from continuing operations | 0 | ||||||||||||
Net income | 4,084 | ||||||||||||
Less: Net income attributable to noncontrolling interests | 0 | ||||||||||||
Less: Net income attributable to redeemable noncontrolling interests | |||||||||||||
Net Income (Loss) Attributable to Parent | 4,084 | ||||||||||||
Other Comprehensive Income (Loss), Net of Tax | 0 | ||||||||||||
Comprehensive Income (Loss), Net of Tax, Including Portion Attributable to Noncontrolling Interest | 4,084 | ||||||||||||
Less: Comprehensive income attributable to noncontrolling interests | 0 | ||||||||||||
Less: Comprehensive income attributable to redeemable noncontrolling interests | |||||||||||||
Comprehensive Income (Loss), Net of Tax, Attributable to Parent | 4,084 | ||||||||||||
Parent Guarantor [Member] | Pro Forma [Member] | |||||||||||||
Training Section [Abstract] | |||||||||||||
Net Cash Provided by (Used in) Operating Activities | 3,372 | 4,041 | 2,564 | ||||||||||
Revenues | 0 | 0 | |||||||||||
Cash and cash equivalents | 0 | 0 | 0 | 0 | 0 | $ 0 | |||||||
Other current assets | 4,905 | 4,070 | 4,905 | 4,070 | |||||||||
Property, Plant and Equipment, Net | 0 | 0 | 0 | 0 | |||||||||
Advances to and investments in unconsolidated affiliates | 57,383 | 51,876 | 57,383 | 51,876 | |||||||||
Other non-current assets, net | 5,786 | 12 | 5,786 | 12 | |||||||||
Assets | 68,074 | 55,958 | 68,074 | 55,958 | |||||||||
Liabilities, Current | 3,394 | 3,430 | 3,394 | 3,430 | |||||||||
Liabilities, Noncurrent | 34,782 | 24,787 | 34,782 | 24,787 | |||||||||
Noncontrolling interests | 0 | 0 | 0 | 0 | |||||||||
Partners' Capital | 29,898 | 27,741 | 29,898 | 27,741 | |||||||||
Liabilities and Equity | $ 68,074 | $ 55,958 | 68,074 | 55,958 | |||||||||
Costs and Expenses | 0 | 0 | |||||||||||
Operating Income (Loss) | 0 | 0 | |||||||||||
Interest Expense | (1,196) | 0 | |||||||||||
Equity in earnings of unconsolidated affiliates | 4,170 | 2,564 | |||||||||||
Losses on extinguishments of debt | 0 | 0 | |||||||||||
Impairment of investments in unconsolidated affiliates | 0 | ||||||||||||
Gains (losses) on interest rate derivatives | 47 | 0 | |||||||||||
Other, net | 0 | 0 | |||||||||||
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest | 3,021 | 2,564 | |||||||||||
Income tax expense (benefit) from continuing operations | 0 | 0 | |||||||||||
Income (Loss) from Continuing Operations, Net of Tax, Attributable to Parent | 3,021 | 2,564 | |||||||||||
Loss from discontinued operations, net of income taxes | 0 | 0 | |||||||||||
Net income | 3,021 | 2,564 | |||||||||||
Less: Net income attributable to noncontrolling interests | 0 | 0 | |||||||||||
Less: Net income attributable to redeemable noncontrolling interests | 0 | ||||||||||||
Less: Net income (loss) attributable to predecessor | 0 | 0 | |||||||||||
Net Income (Loss) Attributable to Parent | 3,021 | 2,564 | |||||||||||
Other Comprehensive Income (Loss), Net of Tax | 0 | 0 | |||||||||||
Comprehensive Income (Loss), Net of Tax, Including Portion Attributable to Noncontrolling Interest | 3,021 | 2,564 | |||||||||||
Less: Comprehensive income attributable to noncontrolling interests | 0 | 0 | |||||||||||
Less: Comprehensive income attributable to redeemable noncontrolling interests | 0 | ||||||||||||
Less: Comprehensive income (loss) attributable to predecessor | 0 | 0 | |||||||||||
Comprehensive Income (Loss), Net of Tax, Attributable to Parent | 3,021 | 2,564 | |||||||||||
Net Cash Provided by (Used in) Investing Activities | (2,044) | (3,408) | (2,240) | ||||||||||
Net Cash Provided by (Used in) Financing Activities | (1,328) | (633) | (324) | ||||||||||
Net Cash Provided by (Used in) Discontinued Operations | 0 | 0 | |||||||||||
Cash and Cash Equivalents, Period Increase (Decrease) | $ 0 | $ 0 | $ 0 |