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Intangible Assets and Goodwill (Tables)
 6 Months Ended
Jun. 30, 2015
Intangible Assets and Goodwill [Abstract]  
Intangible Assets by Segment
The following table summarizes our intangible assets by business segment at the dates indicated:

 
 
June 30, 2015
  
December 31, 2014
 
 
 
Gross
Value
  
Accumulated
Amortization
  
Carrying
Value
  
Gross
Value
  
Accumulated
Amortization
  
Carrying
Value
 
NGL Pipelines & Services:
 
  
  
  
  
  
 
Customer relationship intangibles
 
$
340.8
  
$
(191.1
)
 
$
149.7
  
$
340.8
  
$
(183.2
)
 
$
157.6
 
Contract-based intangibles
  
283.0
   
(186.1
)
  
96.9
   
277.7
   
(178.7
)
  
99.0
 
IDRs (1)
  
--
   
--
   
--
   
432.6
   
--
   
432.6
 
Segment total
  
623.8
   
(377.2
)
  
246.6
   
1,051.1
   
(361.9
)
  
689.2
 
Crude Oil Pipelines & Services:
                        
Customer relationship intangibles
  
1,108.0
   
(12.9
)
  
1,095.1
   
1,108.0
   
(7.7
)
  
1,100.3
 
Contract-based intangibles
  
281.4
   
(41.6
)
  
239.8
   
281.4
   
(13.5
)
  
267.9
 
IDRs (1)
  
--
   
--
   
--
   
855.4
   
--
   
855.4
 
Segment total
  
1,389.4
   
(54.5
)
  
1,334.9
   
2,244.8
   
(21.2
)
  
2,223.6
 
Natural Gas Pipelines & Services:
                        
Customer relationship intangibles
  
1,163.6
   
(320.9
)
  
842.7
   
1,163.6
   
(308.9
)
  
854.7
 
Contract-based intangibles
  
466.0
   
(355.6
)
  
110.4
   
466.0
   
(347.8
)
  
118.2
 
Segment total
  
1,629.6
   
(676.5
)
  
953.1
   
1,629.6
   
(656.7
)
  
972.9
 
Petrochemical & Refined Products Services:
                        
Customer relationship intangibles
  
198.4
   
(45.9
)
  
152.5
   
198.4
   
(43.3
)
  
155.1
 
Contract-based intangibles
  
56.3
   
(9.9
)
  
46.4
   
56.3
   
(7.8
)
  
48.5
 
IDRs (1)
  
--
   
--
   
--
   
171.2
   
--
   
171.2
 
Segment total
  
254.7
   
(55.8
)
  
198.9
   
425.9
   
(51.1
)
  
374.8
 
Offshore Pipelines & Services:
                        
Customer relationship intangibles
  
195.8
   
(159.4
)
  
36.4
   
195.8
   
(154.9
)
  
40.9
 
Contract-based intangibles
  
1.2
   
(0.5
)
  
0.7
   
1.2
   
(0.5
)
  
0.7
 
Segment total
  
197.0
   
(159.9
)
  
37.1
   
197.0
   
(155.4
)
  
41.6
 
Subtotal all segments
  
4,094.5
   
(1,323.9
)
  
2,770.6
   
5,548.4
   
(1,246.3
)
  
4,302.1
 
Less carrying values reclassified to
   assets held for sale (2)
  
(197.0
)
  
159.9
   
(37.1
)
  
--
   
--
   
--
 
Total intangible assets
 
$
3,897.5
  
$
(1,164.0
)
  
2,733.5
  
$
5,548.4
  
$
(1,246.3
)
 
$
4,302.1
 
                           
(1)   At December 31, 2014, we had indefinite-lived intangible assets outstanding with a carrying value of $1.46 billion recorded in connection with our acquisition of the Oiltanking IDRs in October 2014. The IDRs represented contractual rights to future cash incentive distributions to be paid by Oiltanking. In February 2015 (following completion of Step 2 of the Oiltanking acquisition), the Oiltanking IDRs were cancelled and the carrying value of the IDRs were reclassified to goodwill.
(2)   At June 30, 2015, the carrying values of our intangible assets classified within the Offshore Pipelines & Services segment were reclassified to “Assets held for sale” as discussed in Note 6. Since these assets are classified as held for sale, we no longer amortize the underlying gross values after June 30, 2015.
 
Amortization Expense of Intangible Assets by Segment
The following table presents the amortization expense of our intangible assets by business segment for the periods indicated:

 
 
For the Three Months
Ended June 30,
  
For the Six Months
Ended June 30,
 
 
 
2015
  
2014
  
2015
  
2014
 
NGL Pipelines & Services
 
$
7.7
  
$
8.7
  
$
15.2
  
$
17.3
 
Crude Oil Pipelines & Services
  
16.6
   
0.3
   
33.3
   
0.6
 
Natural Gas Pipelines & Services
  
9.9
   
11.5
   
19.8
   
23.1
 
Petrochemical & Refined Products Services
  
2.3
   
1.5
   
4.7
   
3.1
 
Offshore Pipelines & Services
  
2.2
   
2.5
   
4.5
   
5.1
 
Total
 
$
38.7
  
$
24.5
  
$
77.5
  
$
49.2
 
Forecasted Amortization Expense
The following table presents a forecast of amortization expense associated with our intangible assets for the periods indicated (excluding those classified as held for sale at June 30, 2015):

Remainder
of 2015
  
2016
  
2017
  
2018
  
2019
 
$
70.8
  
$
150.5
  
$
146.5
  
$
139.4
  
$
128.5
 
Changes in Carrying Amount of Goodwill
Goodwill represents the excess of the purchase price of an acquired business over the amounts assigned to assets acquired and liabilities assumed in the transaction.  The following table presents changes in the carrying amount of goodwill since December 31, 2014:

 
 
NGL
Pipelines
& Services
  
Crude Oil
Pipelines
& Services
  
Natural Gas
Pipelines
& Services
  
Petrochemical
& Refined
Products
Services
  
Offshore
Pipelines
& Services
  
Consolidated
Total
 
Balance at December 31, 2014
 
$
2,207.9
  
$
914.3
  
$
296.3
  
$
792.2
  
$
82.0
  
$
4,292.7
 
Reclassification of Oiltanking IDR balances to goodwill in connection with the cancellation of such rights in February 2015 and other adjustments
  
432.6
   
850.7
   
--
   
170.8
   
--
   
1,454.1
 
Goodwill reclassified to assets held for sale
  
--
   
--
   
--
   
--
   
(82.0
)
  
(82.0
)
Balance at June 30, 2015
 
$
2,640.5
  
$
1,765.0
  
$
296.3
  
$
963.0
  
$
--
  
$
5,664.8