XML 107 R21.htm IDEA: XBRL DOCUMENT
v2.4.1.9

Business Segments | 12 Months Ended
--- | ---
Dec. 31, 2014
Business Segments [Abstract] |
Business Segments | Note 14. Business Segments We have five reportable business segments: (i) NGL Pipelines & Services; (ii) Onshore Natural Gas Pipelines & Services; (iii) Onshore Crude Oil Pipelines & Services; (iv) Offshore Pipelines & Services; and (v) Petrochemical & Refined Products Services. Our business segments are generally organized and managed according to the types of services rendered (or technologies employed) and products produced and/or sold. Financial information regarding these segments is evaluated regularly by our chief operating decision makers in deciding how to allocate resources and in assessing operating and financial performance. The chief executive officer and chief operating officer of our general partner have been identified as our chief operating decision makers. While these two officers evaluate results in a number of different ways, the business segment structure is the primary basis for which the allocation of resources and financial results are assessed. The following information summarizes the current assets and operations of each business segment (mileage and other statistics are unaudited):
§ | Our NGL Pipelines & Services business segment includes our natural gas processing plants and related NGL marketing activities; approximately 19,300 miles of NGL pipelines; NGL and related product storage facilities; and 15 NGL fractionators. This segment also includes our NGL import and LPG export terminal operations.
§ | Our Onshore Natural Gas Pipelines & Services business segment includes approximately 19,300 miles of onshore natural gas pipeline systems that provide for the gathering and transportation of natural gas in Colorado, Louisiana, New Mexico, Texas and Wyoming. We lease underground salt dome natural gas storage facilities located in Texas and Louisiana and own an underground salt dome storage cavern in Texas, all of which are important to our natural gas pipeline operations. This segment also includes our related natural gas marketing activities.
§ | Our Onshore Crude Oil Pipelines & Services business segment includes approximately 5,400 miles of onshore crude oil pipelines, crude oil storage terminals located in Oklahoma and Texas, and our crude oil marketing activities. This business also includes a fleet of approximately 560 tractor-trailer tank trucks, the majority of which we lease and operate, used to transport crude oil for us and third parties.
§ | Our Offshore Pipelines & Services business segment serves some of the most active drilling and development regions, including deepwater production fields, in the northern Gulf of Mexico offshore Texas, Louisiana, Mississippi and Alabama. This segment includes approximately 2,350 miles of offshore natural gas and crude oil pipelines and six offshore hub platforms.
§ | Our Petrochemical & Refined Products Services business segment includes (i) propylene fractionation and related operations, including approximately 680 miles of pipelines; (ii) a butane isomerization complex, associated deisobutanizer units and related pipeline assets; (iii) octane enhancement and high purity isobutylene production facilities; (iv) refined products pipelines aggregating approximately 4,200 miles and related marketing activities; and (v) marine transportation.
All activities included in our former sixth reportable business segment, Other Investments, ceased on January 18, 2012, which was the date we discontinued using the equity method to account for our previously held investment in Energy Transfer Equity. See Note 9 for information regarding the liquidation of our investment in Energy Transfer Equity. Segment revenues include intersegment and intrasegment transactions, which are generally based on transactions made at market-based rates. Our consolidated revenues reflect the elimination of intercompany transactions. Substantially all of our consolidated revenues are earned in the U.S. and derived from a wide customer base. We evaluate segment performance based on the non-GAAP financial measure of gross operating margin. Gross operating margin (either in total or by individual segment) is an important performance measure of the core profitability of our operations. This measure forms the basis of our internal financial reporting and is used by our executive management in deciding how to allocate capital resources among business segments. We believe that investors benefit from having access to the same financial measures that our management uses in evaluating segment results. The GAAP financial measure most directly comparable to total segment gross operating margin is operating income. In total, gross operating margin represents operating income exclusive of (1) depreciation, amortization and accretion expenses, (2) impairment charges, (3) gains and losses attributable to asset sales and insurance recoveries and (4) general and administrative costs. Gross operating margin includes equity in income of unconsolidated affiliates and non-refundable deferred transportation revenues relating to the make-up rights of committed shippers associated with certain pipelines. Gross operating margin by segment is calculated by subtracting segment operating costs and expenses (net of the adjustments noted above) from segment revenues, with both segment totals before the elimination of intercompany transactions. In accordance with GAAP, intercompany accounts and transactions are eliminated in consolidation. Gross operating margin is exclusive of other income and expense transactions, income taxes, the cumulative effect of changes in accounting principles and extraordinary charges. Gross operating margin is presented on a 100% basis before any allocation of earnings to noncontrolling interests. We include equity in income of unconsolidated affiliates in our measurement of segment gross operating margin and operating income. Equity investments with industry partners are a significant component of our business strategy. They are a means by which we conduct our operations to align our interests with those of customers and/or suppliers. This method of operation enables us to achieve favorable economies of scale relative to the level of investment and business risk assumed. Many of these businesses perform supporting or complementary roles to our other midstream business operations. Our integrated midstream energy asset network (including the midstream energy assets owned by our equity method investees) provides services to producers and consumers of natural gas, NGLs, crude oil, refined products and certain petrochemicals. In general, hydrocarbons may enter our asset system in a number of ways, such as through an offshore natural gas or crude oil pipeline, an offshore platform, a natural gas processing plant, an onshore natural gas gathering pipeline, an onshore crude oil pipeline or terminal, an NGL fractionator, an NGL storage facility or an NGL gathering or transportation pipeline. Many of our equity investees are included within our integrated midstream asset network. For example, we have ownership interests in several offshore Gulf of Mexico natural gas and crude oil pipelines. Other examples include our use of the Promix NGL fractionator to process mixed NGLs extracted by our natural gas processing plants and our use of the Texas Express Pipeline to transport mixed NGLs to our Mont Belvieu complex. Given the integral nature of our equity method investees to our operations, we believe the presentation of equity earnings from such investees as a component of gross operating margin and operating income is meaningful and appropriate. Segment assets consist of property, plant and equipment, investments in unconsolidated affiliates, intangible assets and goodwill. The carrying values of such amounts are assigned to each segment based on each asset's or investment's principal operations and contribution to the gross operating margin of that particular segment. Since construction-in-progress amounts (a component of property, plant and equipment) generally do not contribute to segment gross operating margin, such amounts are excluded from segment asset totals until the underlying assets are placed in service. Intangible assets and goodwill are assigned to each segment based on the classification of the assets to which they relate. Substantially all of our plants, pipelines and other fixed assets are located in the U.S. The results of operations from our liquids pipelines are primarily dependent upon the volumes transported and the associated fees we charge for such transportation services. Typically, pipeline transportation revenue is recognized when volumes are re-delivered to customers. However, under certain pipeline transportation agreements, customers are required to ship a minimum volume over an agreed-upon period. These arrangements typically entail the shipper paying a transportation fee based on a minimum volume commitment, with a provision that allows the shipper to make-up any volume shortfalls over the agreed-upon period (referred to as shipper "make-up rights"). Revenue pursuant to such agreements, including that associated with make-up rights, is initially deferred and subsequently recognized at the earlier of when the deficiency volume is shipped, when the shipper's ability to meet the minimum volume commitment has expired (typically a one year contractual period), or when the pipeline is otherwise released from its transportation service performance obligation. However, management includes deferred transportation revenues relating to the "make-up rights" of committed shippers when reviewing the financial results of certain major new pipeline projects such as ATEX. From an internal (and segment) reporting standpoint, management considers the transportation fees paid by committed shippers on major new pipeline projects, including any non-refundable revenues that may be deferred under GAAP related to make-up rights, to be important in assessing the financial performance of these pipeline assets. Since management includes these deferred revenues in non-GAAP gross operating margin, these amounts are deducted in determining GAAP-based operating income. Our consolidated revenues do not reflect any deferred revenues until the conditions for recognizing such revenues are met in accordance with GAAP. Several of our major new liquids pipeline projects experienced periods in 2013 and 2014 where shippers were unable to meet their contractual minimum volume commitments. In general, we expect that these types of shortfalls will continue in 2015 due to the current business environment, with the recognition of revenue associated with past deferrals associated with make-up rights partially or entirely offsetting any new make-up right deferrals. The following table presents our measurement of non-GAAP total segment gross operating margin for the periods indicated:
|  | For the Year Ended December 31, |
|  | 2014 |  |  | 2013 |  |  | 2012 |
Revenues |  | $ | 47,951.2 |  |  | $ | 47,727.0 |  |  | $ | 42,583.1 |
Subtract operating costs and expenses |  |  | (44,220.5 | ) |  |  | (44,238.7 | ) |  |  | (39,367.9 | )
Add equity in income of unconsolidated affiliates |  |  | 259.5 |  |  |  | 167.3 |  |  |  | 64.3 |
Add depreciation, amortization and accretion expense amounts not reflected in gross operating margin |  |  | 1,282.7 |  |  |  | 1,148.9 |  |  |  | 1,061.7 |
Add impairment charges not reflected in gross operating margin |  |  | 34.0 |  |  |  | 92.6 |  |  |  | 63.4 |
Subtract net gains attributable to asset sales and insurance recoveries not reflected in gross operating margin |  |  | (102.1 | ) |  |  | (83.4 | ) |  |  | (17.6 | )
Add non-refundable deferred revenues attributable to shipper make-up rights on major new pipeline projects reflected in gross operating margin (1) |  |  | 84.6 |  |  |  | 4.4 |  |  |  | -- |
Subtract subsequent recognition of deferred revenues attributable to make-up rights |  |  | (2.9 | ) |  |  | -- |  |  |  | -- |
Total segment gross operating margin |  | $ | 5,286.5 |  |  | $ | 4,818.1 |  |  | $ | 4,387.0 |
(1) Several of our major new liquids pipeline projects experienced periods in 2013 and 2014 where shippers were unable to meet their contractual minimum volume commitments. |
The following table presents a reconciliation of total segment gross operating margin to operating income and further to income before income taxes for the periods indicated:
|  | For the Year Ended December 31, |
|  | 2014 |  |  | 2013 |  |  | 2012 |
Total segment gross operating margin |  | $ | 5,286.5 |  |  | $ | 4,818.1 |  |  | $ | 4,387.0 |
Adjustments to reconcile total segment gross operating margin to operating income: |  |  |  |  |  |  |  |  |  |  |  |
Subtract depreciation, amortization and accretion expense amounts not reflected in gross operating margin |  |  | (1,282.7 | ) |  |  | (1,148.9 | ) |  |  | (1,061.7 | )
Subtract impairment charges not reflected in gross operating margin |  |  | (34.0 | ) |  |  | (92.6 | ) |  |  | (63.4 | )
Add net gains attributable to asset sales and insurance recoveries not reflected in gross operating margin (see Note 20) |  |  | 102.1 |  |  |  | 83.4 |  |  |  | 17.6 |
Subtract non-refundable deferred revenues attributable to shipper make-up rights on major new pipeline projects reflected in gross operating margin |  |  | (84.6 | ) |  |  | (4.4 | ) |  |  | -- |
Add subsequent recognition of deferred revenues attributable to make-up rights |  |  | 2.9 |  |  |  | -- |  |  |  | -- |
Subtract general and administrative costs not reflected in gross operating margin |  |  | (214.5 | ) |  |  | (188.3 | ) |  |  | (170.3 | )
Operating income |  |  | 3,775.7 |  |  |  | 3,467.3 |  |  |  | 3,109.2 |
Other expense, net |  |  | (919.1 | ) |  |  | (802.7 | ) |  |  | (698.4 | )
Income before income taxes |  | $ | 2,856.6 |  |  | $ | 2,664.6 |  |  | $ | 2,410.8 |
Information by business segment, together with reconciliations to our consolidated financial statement totals, is presented in the following table:
|  | Reportable Business Segments |  |  |  |  |  |  |
|  | NGL Pipelines & Services |  |  | Onshore Natural Gas Pipelines & Services |  |  | Onshore Crude Oil Pipelines & Services |  |  | Offshore Pipelines & Services |  |  | Petrochemical & Refined Products Services |  |  | Other Investments |  |  | Adjustments and Eliminations |  |  | Consolidated Total |
Revenues from third parties: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Year ended December 31, 2014 |  | $ | 17,078.4 |  |  | $ | 4,182.6 |  |  | $ | 20,151.9 |  |  | $ | 150.3 |  |  | $ | 6,316.5 |  |  | $ | -- |  |  | $ | -- |  |  | $ | 47,879.7 |
Year ended December 31, 2013 |  |  | 17,119.1 |  |  |  | 3,522.7 |  |  |  | 20,609.1 |  |  |  | 151.7 |  |  |  | 6,258.5 |  |  |  | -- |  |  |  | -- |  |  |  | 47,661.1 |
Year ended December 31, 2012 |  |  | 15,158.9 |  |  |  | 3,297.7 |  |  |  | 17,661.6 |  |  |  | 182.7 |  |  |  | 6,208.9 |  |  |  | -- |  |  |  | -- |  |  |  | 42,509.8 |
Revenues from related parties: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Year ended December 31, 2014 |  |  | 11.4 |  |  |  | 21.2 |  |  |  | 32.4 |  |  |  | 6.5 |  |  |  | -- |  |  |  | -- |  |  |  | -- |  |  |  | 71.5 |
Year ended December 31, 2013 |  |  | 1.1 |  |  |  | 15.8 |  |  |  | 41.3 |  |  |  | 7.7 |  |  |  | -- |  |  |  | -- |  |  |  | -- |  |  |  | 65.9 |
Year ended December 31, 2012 |  |  | 9.5 |  |  |  | 54.9 |  |  |  | 0.1 |  |  |  | 8.8 |  |  |  | -- |  |  |  | -- |  |  |  | -- |  |  |  | 73.3 |
Intersegment and intrasegment revenues: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Year ended December 31, 2014 |  |  | 13,716.5 |  |  |  | 1,106.7 |  |  |  | 12,678.7 |  |  |  | 6.5 |  |  |  | 1,779.6 |  |  |  | -- |  |  |  | (29,288.0 | ) |  |  | -- |
Year ended December 31, 2013 |  |  | 11,096.6 |  |  |  | 959.7 |  |  |  | 10,222.3 |  |  |  | 9.6 |  |  |  | 1,764.0 |  |  |  | -- |  |  |  | (24,052.2 | ) |  |  | -- |
Year ended December 31, 2012 |  |  | 12,500.6 |  |  |  | 871.6 |  |  |  | 6,906.9 |  |  |  | 10.4 |  |  |  | 1,758.9 |  |  |  | -- |  |  |  | (22,048.4 | ) |  |  | -- |
Total revenues: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Year ended December 31, 2014 |  |  | 30,806.3 |  |  |  | 5,310.5 |  |  |  | 32,863.0 |  |  |  | 163.3 |  |  |  | 8,096.1 |  |  |  | -- |  |  |  | (29,288.0 | ) |  |  | 47,951.2 |
Year ended December 31, 2013 |  |  | 28,216.8 |  |  |  | 4,498.2 |  |  |  | 30,872.7 |  |  |  | 169.0 |  |  |  | 8,022.5 |  |  |  | -- |  |  |  | (24,052.2 | ) |  |  | 47,727.0 |
Year ended December 31, 2012 |  |  | 27,669.0 |  |  |  | 4,224.2 |  |  |  | 24,568.6 |  |  |  | 201.9 |  |  |  | 7,967.8 |  |  |  | -- |  |  |  | (22,048.4 | ) |  |  | 42,583.1 |
Equity in income (loss) of unconsolidated affiliates: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Year ended December 31, 2014 |  |  | 30.6 |  |  |  | 3.6 |  |  |  | 184.6 |  |  |  | 54.0 |  |  |  | (13.3 | ) |  |  | -- |  |  |  | -- |  |  |  | 259.5 |
Year ended December 31, 2013 |  |  | 15.7 |  |  |  | 3.8 |  |  |  | 140.3 |  |  |  | 29.8 |  |  |  | (22.3 | ) |  |  | -- |  |  |  | -- |  |  |  | 167.3 |
Year ended December 31, 2012 |  |  | 15.9 |  |  |  | 4.4 |  |  |  | 32.6 |  |  |  | 26.9 |  |  |  | (17.9 | ) |  |  | 2.4 |  |  |  | -- |  |  |  | 64.3 |
Gross operating margin: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Year ended December 31, 2014 |  |  | 2,877.7 |  |  |  | 803.3 |  |  |  | 762.5 |  |  |  | 162.0 |  |  |  | 681.0 |  |  |  | -- |  |  |  | -- |  |  |  | 5,286.5 |
Year ended December 31, 2013 |  |  | 2,514.4 |  |  |  | 789.0 |  |  |  | 742.7 |  |  |  | 146.1 |  |  |  | 625.9 |  |  |  | -- |  |  |  | -- |  |  |  | 4,818.1 |
Year ended December 31, 2012 |  |  | 2,468.5 |  |  |  | 775.5 |  |  |  | 387.7 |  |  |  | 173.0 |  |  |  | 579.9 |  |  |  | 2.4 |  |  |  | -- |  |  |  | 4,387.0 |
Property, plant and equipment, net: (see Note 8) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
At December 31, 2014 |  |  | 11,766.9 |  |  |  | 8,835.5 |  |  |  | 2,332.2 |  |  |  | 1,145.1 |  |  |  | 3,047.2 |  |  |  | -- |  |  |  | 2,754.7 |  |  |  | 29,881.6 |
At December 31, 2013 |  |  | 9,957.8 |  |  |  | 8,917.3 |  |  |  | 1,479.9 |  |  |  | 1,223.7 |  |  |  | 2,712.4 |  |  |  | -- |  |  |  | 2,655.5 |  |  |  | 26,946.6 |
At December 31, 2012 |  |  | 8,494.8 |  |  |  | 8,950.1 |  |  |  | 1,385.9 |  |  |  | 1,343.0 |  |  |  | 2,559.5 |  |  |  | -- |  |  |  | 2,113.1 |  |  |  | 24,846.4 |
Investments in unconsolidated affiliates: (see Note 9) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
At December 31, 2014 |  |  | 682.3 |  |  |  | 23.2 |  |  |  | 1,767.7 |  |  |  | 493.7 |  |  |  | 75.1 |  |  |  | -- |  |  |  | -- |  |  |  | 3,042.0 |
At December 31, 2013 |  |  | 645.5 |  |  |  | 24.2 |  |  |  | 1,165.2 |  |  |  | 531.8 |  |  |  | 70.4 |  |  |  | -- |  |  |  | -- |  |  |  | 2,437.1 |
At December 31, 2012 |  |  | 324.6 |  |  |  | 24.9 |  |  |  | 493.8 |  |  |  | 479.0 |  |  |  | 72.3 |  |  |  | -- |  |  |  | -- |  |  |  | 1,394.6 |
Intangible assets, net: (see Note 11) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
At December 31, 2014 |  |  | 689.2 |  |  |  | 972.9 |  |  |  | 2,223.6 |  |  |  | 41.6 |  |  |  | 374.8 |  |  |  | -- |  |  |  | -- |  |  |  | 4,302.1 |
At December 31, 2013 |  |  | 285.2 |  |  |  | 1,017.8 |  |  |  | 4.5 |  |  |  | 54.7 |  |  |  | 100.0 |  |  |  | -- |  |  |  | -- |  |  |  | 1,462.2 |
At December 31, 2012 |  |  | 320.6 |  |  |  | 1,067.9 |  |  |  | 5.9 |  |  |  | 66.2 |  |  |  | 106.2 |  |  |  | -- |  |  |  | -- |  |  |  | 1,566.8 |
Goodwill: (see Note 11) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
At December 31, 2014 |  |  | 2,180.4 |  |  |  | 296.3 |  |  |  | 859.9 |  |  |  | 82.0 |  |  |  | 781.3 |  |  |  | -- |  |  |  | -- |  |  |  | 4,199.9 |
At December 31, 2013 |  |  | 341.2 |  |  |  | 296.3 |  |  |  | 305.1 |  |  |  | 82.1 |  |  |  | 1,055.3 |  |  |  | -- |  |  |  | -- |  |  |  | 2,080.0 |
At December 31, 2012 |  |  | 341.2 |  |  |  | 296.3 |  |  |  | 311.2 |  |  |  | 82.1 |  |  |  | 1,056.0 |  |  |  | -- |  |  |  | -- |  |  |  | 2,086.8 |
Segment assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
At December 31, 2014 |  |  | 15,318.8 |  |  |  | 10,127.9 |  |  |  | 7,183.4 |  |  |  | 1,762.4 |  |  |  | 4,278.4 |  |  |  | -- |  |  |  | 2,754.7 |  |  |  | 41,425.6 |
At December 31, 2013 |  |  | 11,229.7 |  |  |  | 10,255.6 |  |  |  | 2,954.7 |  |  |  | 1,892.3 |  |  |  | 3,938.1 |  |  |  | -- |  |  |  | 2,655.5 |  |  |  | 32,925.9 |
At December 31, 2012 |  |  | 9,481.2 |  |  |  | 10,339.2 |  |  |  | 2,196.8 |  |  |  | 1,970.3 |  |  |  | 3,794.0 |  |  |  | -- |  |  |  | 2,113.1 |  |  |  | 29,894.6 |
The following table presents additional information regarding our consolidated revenues and costs and expenses for the periods indicated:
|  | For the Year Ended December 31, |
|  | 2014 |  |  | 2013 |  |  | 2012 |
NGL Pipelines & Services: |  |  |  |  |  |  |  |  |
Sales of NGLs and related products |  | $ | 15,460.1 |  |  | $ | 15,916.0 |  |  | $ | 14,218.5 |
Midstream services |  |  | 1,629.7 |  |  |  | 1,204.2 |  |  |  | 949.9 |
Total |  |  | 17,089.8 |  |  |  | 17,120.2 |  |  |  | 15,168.4 |
Onshore Natural Gas Pipelines & Services: |  |  |  |  |  |  |  |  |  |  |  |
Sales of natural gas |  |  | 3,181.7 |  |  |  | 2,571.6 |  |  |  | 2,395.4 |
Midstream services |  |  | 1,022.1 |  |  |  | 966.9 |  |  |  | 957.2 |
Total |  |  | 4,203.8 |  |  |  | 3,538.5 |  |  |  | 3,352.6 |
Onshore Crude Oil Pipelines & Services: |  |  |  |  |  |  |  |  |  |  |  |
Sales of crude oil |  |  | 19,783.9 |  |  |  | 20,371.3 |  |  |  | 17,548.7 |
Midstream services |  |  | 400.4 |  |  |  | 279.1 |  |  |  | 113.0 |
Total |  |  | 20,184.3 |  |  |  | 20,650.4 |  |  |  | 17,661.7 |
Offshore Pipelines & Services: |  |  |  |  |  |  |  |  |  |  |  |
Sales of natural gas |  |  | 0.3 |  |  |  | 0.5 |  |  |  | 0.4 |
Sales of crude oil |  |  | 8.6 |  |  |  | 5.7 |  |  |  | 3.3 |
Midstream services |  |  | 147.9 |  |  |  | 153.2 |  |  |  | 187.8 |
Total |  |  | 156.8 |  |  |  | 159.4 |  |  |  | 191.5 |
Petrochemical & Refined Products Services: |  |  |  |  |  |  |  |  |  |  |  |
Sales of petrochemicals and refined products |  |  | 5,575.5 |  |  |  | 5,568.8 |  |  |  | 5,470.9 |
Midstream services |  |  | 741.0 |  |  |  | 689.7 |  |  |  | 738.0 |
Total |  |  | 6,316.5 |  |  |  | 6,258.5 |  |  |  | 6,208.9 |
Total consolidated revenues |  | $ | 47,951.2 |  |  | $ | 47,727.0 |  |  | $ | 42,583.1 |
Consolidated costs and expenses |  |  |  |  |  |  |  |  |  |  |  |
Operating costs and expenses: |  |  |  |  |  |  |  |  |  |  |  |
Cost of sales |  | $ | 40,464.1 |  |  | $ | 40,770.2 |  |  | $ | 36,015.5 |
Other operating costs and expenses (1) |  |  | 2,541.8 |  |  |  | 2,310.4 |  |  |  | 2,244.9 |
Depreciation, amortization and accretion |  |  | 1,282.7 |  |  |  | 1,148.9 |  |  |  | 1,061.7 |
Net gains attributable to asset sales and insurance recoveries |  |  | (102.1 | ) |  |  | (83.4 | ) |  |  | (17.6 | )
Non-cash asset impairment charges |  |  | 34.0 |  |  |  | 92.6 |  |  |  | 63.4 |
General and administrative costs |  |  | 214.5 |  |  |  | 188.3 |  |  |  | 170.3 |
Total consolidated costs and expenses |  | $ | 44,435.0 |  |  | $ | 44,427.0 |  |  | $ | 39,538.2 |
(1) Represents cost of operating our plants, pipelines and other fixed assets, excluding depreciation, amortization and accretion charges. |
Fluctuations in our product sales revenues and related cost of sales amounts are explained in part by changes in energy commodity prices. In general, lower energy commodity prices result in a decrease in our revenues attributable to product sales; however, these lower commodity prices also decrease the associated cost of sales as purchase costs decline. The same correlation would be true in the case of higher energy commodity sales prices and purchase costs. Our largest non-affiliated customer for 2014 was Shell Oil Company and its affiliates (collectively, "Shell"), which accounted for $4.05 billion, or 8.5%, of our consolidated revenues for the year. The following table presents our consolidated revenues from Shell by business segment for the year ended December 31, 2014:
NGL Pipelines & Services |  | $ | 615.5 |
Onshore Natural Gas Pipelines & Services |  |  | 130.3 |
Onshore Crude Oil Pipelines & Services |  |  | 3,106.0 |
Offshore Pipelines & Services |  |  | 6.7 |
Petrochemical & Refined Products Services |  |  | 194.2 |
Total |  | $ | 4,052.7 |
BP p.l.c. and its affiliates was our largest non-affiliated customer for 2013 and 2012, accounting for 9.0% and 9.5%, respectively, of our consolidated revenues for the years ended December 31, 2013 and 2012.

X
- Details
Name: | us-gaap_SegmentReportingAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 29 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8864-108599 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8933-108599 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 26 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8844-108599 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 10 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8538-108599 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8380-108599 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 34 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8981-108599 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 35 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8984-108599 Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 41 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e9038-108599 Reference 9: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8906-108599 Reference 10: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 42 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e9054-108599 Reference 11: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8924-108599 Reference 12: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 40 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e9031-108599 Reference 13: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 33 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8971-108599 Reference 14: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8595-108599 + Details
Name: | us-gaap_SegmentReportingDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration