XML 93 R58.htm IDEA: XBRL DOCUMENT v3.2.0.727
Property, Plant and Equipment (Details) - USD ($)
$ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2015
Jun. 30, 2014
Jun. 30, 2015
Jun. 30, 2014
Dec. 31, 2014
Property, plant and equipment and accumulated depreciation [Abstract]          
Total historical cost of property, plant and equipment $ 39,670.6   $ 39,670.6   $ 38,046.7
Less accumulated depreciation 8,750.9   8,750.9   8,165.1
Subtotal property, plant and equipment, net 30,919.7   30,919.7   29,881.6
Carrying value reclassified to assets held for sale [1] (1,135.9)   (1,135.9)   0.0
Property, plant and equipment, net 29,783.8   29,783.8   29,881.6
Summary of depreciation expense and capitalized interest [Abstract]          
Depreciation expense [2] 292.6 $ 271.0 583.9 $ 538.9  
Capitalized interest [3] 35.7 17.7 65.3 36.2  
Asset Retirement Obligations [Roll Forward]          
Balance at beginning of period     98.3    
Liabilities incurred     0.1    
Liabilities settled     (5.5)    
Revisions in estimated cash flows     49.0    
Accretion expense     3.1    
Reclassification of Offshore Business AROs to Liabilities related to assets held for sale     (90.9)    
Balance at end of period 54.1   54.1    
Capitalized costs, asset retirement costs 16.9   16.9   31.3
Forecasted accretion expense [Abstract]          
Remainder of 2015 1.8   1.8    
2016 3.5   3.5    
2017 3.8   3.8    
2018 4.1   4.1    
2019 4.4   4.4    
Matagorda Gathering System [Member]          
Asset Retirement Obligations [Roll Forward]          
Revisions in estimated cash flows     39.5    
Offshore Gulf of Mexico Business [Member]          
Property, plant and equipment and accumulated depreciation [Abstract]          
Total historical cost of property, plant and equipment 1,840.0   1,840.0    
Less accumulated depreciation 706.8   706.8    
Summary of depreciation expense and capitalized interest [Abstract]          
Depreciation expense 19.7 $ 20.4 40.1 $ 40.8  
Plants, pipelines and facilities [Member]          
Property, plant and equipment and accumulated depreciation [Abstract]          
Total historical cost of property, plant and equipment [4] 31,449.8   $ 31,449.8   30,834.9
Plants, pipelines and facilities [Member] | Minimum [Member]          
Property, plant and equipment and accumulated depreciation [Abstract]          
Estimated useful life [4],[5]     3 years    
Plants, pipelines and facilities [Member] | Maximum [Member]          
Property, plant and equipment and accumulated depreciation [Abstract]          
Estimated useful life [4],[5]     45 years    
Underground and other storage facilities [Member]          
Property, plant and equipment and accumulated depreciation [Abstract]          
Total historical cost of property, plant and equipment [6] 2,726.6   $ 2,726.6   2,584.2
Underground and other storage facilities [Member] | Minimum [Member]          
Property, plant and equipment and accumulated depreciation [Abstract]          
Estimated useful life [6],[7]     5 years    
Underground and other storage facilities [Member] | Maximum [Member]          
Property, plant and equipment and accumulated depreciation [Abstract]          
Estimated useful life [6],[7]     40 years    
Platforms and facilities [Member]          
Property, plant and equipment and accumulated depreciation [Abstract]          
Total historical cost of property, plant and equipment [8] 659.7   $ 659.7   659.7
Platforms and facilities [Member] | Minimum [Member]          
Property, plant and equipment and accumulated depreciation [Abstract]          
Estimated useful life [8]     20 years    
Platforms and facilities [Member] | Maximum [Member]          
Property, plant and equipment and accumulated depreciation [Abstract]          
Estimated useful life [8]     31 years    
Transportation equipment [Member]          
Property, plant and equipment and accumulated depreciation [Abstract]          
Total historical cost of property, plant and equipment [9] 159.0   $ 159.0   154.2
Transportation equipment [Member] | Minimum [Member]          
Property, plant and equipment and accumulated depreciation [Abstract]          
Estimated useful life [9]     3 years    
Transportation equipment [Member] | Maximum [Member]          
Property, plant and equipment and accumulated depreciation [Abstract]          
Estimated useful life [9]     10 years    
Marine vessels [Member]          
Property, plant and equipment and accumulated depreciation [Abstract]          
Total historical cost of property, plant and equipment [10] 826.1   $ 826.1   796.4
Marine vessels [Member] | Minimum [Member]          
Property, plant and equipment and accumulated depreciation [Abstract]          
Estimated useful life [10]     15 years    
Marine vessels [Member] | Maximum [Member]          
Property, plant and equipment and accumulated depreciation [Abstract]          
Estimated useful life [10]     30 years    
Land [Member]          
Property, plant and equipment and accumulated depreciation [Abstract]          
Total historical cost of property, plant and equipment 261.2   $ 261.2   262.6
Construction in progress [Member]          
Property, plant and equipment and accumulated depreciation [Abstract]          
Total historical cost of property, plant and equipment $ 3,588.2   $ 3,588.2   $ 2,754.7
Processing plants [Member] | Minimum [Member]          
Property, plant and equipment and accumulated depreciation [Abstract]          
Estimated useful life     20 years    
Processing plants [Member] | Maximum [Member]          
Property, plant and equipment and accumulated depreciation [Abstract]          
Estimated useful life     35 years    
Pipelines and related equipment [Member] | Minimum [Member]          
Property, plant and equipment and accumulated depreciation [Abstract]          
Estimated useful life     5 years    
Pipelines and related equipment [Member] | Maximum [Member]          
Property, plant and equipment and accumulated depreciation [Abstract]          
Estimated useful life     45 years    
Terminal facilities [Member] | Minimum [Member]          
Property, plant and equipment and accumulated depreciation [Abstract]          
Estimated useful life     10 years    
Terminal facilities [Member] | Maximum [Member]          
Property, plant and equipment and accumulated depreciation [Abstract]          
Estimated useful life     35 years    
Office furniture and equipment [Member] | Minimum [Member]          
Property, plant and equipment and accumulated depreciation [Abstract]          
Estimated useful life     3 years    
Office furniture and equipment [Member] | Maximum [Member]          
Property, plant and equipment and accumulated depreciation [Abstract]          
Estimated useful life     20 years    
Buildings [Member] | Minimum [Member]          
Property, plant and equipment and accumulated depreciation [Abstract]          
Estimated useful life     20 years    
Buildings [Member] | Maximum [Member]          
Property, plant and equipment and accumulated depreciation [Abstract]          
Estimated useful life     40 years    
Laboratory and shop equipment [Member] | Minimum [Member]          
Property, plant and equipment and accumulated depreciation [Abstract]          
Estimated useful life     5 years    
Laboratory and shop equipment [Member] | Maximum [Member]          
Property, plant and equipment and accumulated depreciation [Abstract]          
Estimated useful life     35 years    
Underground storage facilities [Member] | Minimum [Member]          
Property, plant and equipment and accumulated depreciation [Abstract]          
Estimated useful life     5 years    
Underground storage facilities [Member] | Maximum [Member]          
Property, plant and equipment and accumulated depreciation [Abstract]          
Estimated useful life     35 years    
Storage tanks [Member] | Minimum [Member]          
Property, plant and equipment and accumulated depreciation [Abstract]          
Estimated useful life     10 years    
Storage tanks [Member] | Maximum [Member]          
Property, plant and equipment and accumulated depreciation [Abstract]          
Estimated useful life     40 years    
Water wells [Member] | Minimum [Member]          
Property, plant and equipment and accumulated depreciation [Abstract]          
Estimated useful life     5 years    
Water wells [Member] | Maximum [Member]          
Property, plant and equipment and accumulated depreciation [Abstract]          
Estimated useful life     35 years    
[1] See Note 6 regarding the reclassification of $1.84 billion of offshore Gulf of Mexico property, plant and equipment values, net of $706.8 million of accumulated depreciation, to assets held for sale at June 30, 2015.
[2] Depreciation expense is a component of "Costs and expenses" as presented on our Unaudited Condensed Statements of Consolidated Operations.
[3] We capitalize interest costs incurred on funds used to construct property, plant and equipment while the asset is in its construction phase. The capitalized interest is recorded as part of the asset to which it relates and is amortized over the asset's estimated useful life as a component of depreciation expense. When capitalized interest is recorded, it reduces interest expense from what it would be otherwise.
[4] Plants, pipelines and facilities include processing plants; NGL, natural gas, crude oil and petrochemical and refined products pipelines; terminal loading and unloading facilities; office furniture and equipment; buildings; laboratory and shop equipment and related assets.
[5] In general, the estimated useful lives of major assets within this category are: processing plants, 20-35 years; pipelines and related equipment, 5-45 years; terminal facilities, 10-35 years; office furniture and equipment, 3-20 years; buildings, 20-40 years; and laboratory and shop equipment, 5-35 years.
[6] Underground and other storage facilities include underground product storage caverns; above ground storage tanks; water wells and related assets.
[7] In general, the estimated useful lives of assets within this category are: underground storage facilities, 5-35 years; storage tanks, 10-40 years; and water wells, 5-35 years.
[8] Platforms and facilities include offshore platforms and related facilities and other associated assets located in the Gulf of Mexico.
[9] Transportation equipment includes tractor-trailer tank trucks and other vehicles and similar assets used in our operations.
[10] Marine vessels include tow boats, barges and related equipment used in our marine transportation business.