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Investments in Unconsolidated Affiliates | 9 Months Ended
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Sep. 30, 2018
Investments in Unconsolidated Affiliates [Abstract] |
Investments in Unconsolidated Affiliates | Note 5. Investments in Unconsolidated Affiliates The following table presents our investments in unconsolidated affiliates by business segment at the dates indicated. We account for these investments using the equity method.
|  | Ownership Interest at September 30, 2018 |  |  | September 30, 2018 |  |  | December 31, 2017 |
NGL Pipelines & Services: |  |  |  |  |  |  |  |  |
Venice Energy Service Company, L.L.C. |  | 13.1% |  |  | $ | 24.7 |  |  | $ | 25.7 |
K/D/S Promix, L.L.C. |  | 50% |  |  |  | 31.2 |  |  |  | 30.9 |
Baton Rouge Fractionators LLC |  | 32.2% |  |  |  | 16.7 |  |  |  | 17.0 |
Skelly-Belvieu Pipeline Company, L.L.C. |  | 50% |  |  |  | 36.6 |  |  |  | 37.0 |
Texas Express Pipeline LLC |  | 35% |  |  |  | 328.6 |  |  |  | 314.4 |
Texas Express Gathering LLC |  | 45% |  |  |  | 44.7 |  |  |  | 35.9 |
Front Range Pipeline LLC |  | 33.3% |  |  |  | 175.7 |  |  |  | 165.7 |
Delaware Basin Gas Processing LLC (1) |  | 100% |  |  |  | -- |  |  |  | 107.3 |
Crude Oil Pipelines & Services: |  |  |  |  |  |  |  |  |  |  |  |
Seaway Crude Pipeline Company LLC |  | 50% |  |  |  | 1,370.3 |  |  |  | 1,378.9 |
Eagle Ford Pipeline LLC |  | 50% |  |  |  | 385.1 |  |  |  | 385.2 |
Eagle Ford Terminals Corpus Christi LLC |  | 50% |  |  |  | 104.4 |  |  |  | 75.1 |
Natural Gas Pipelines & Services: |  |  |  |  |  |  |  |  |  |  |  |
White River Hub, LLC |  | 50% |  |  |  | 20.4 |  |  |  | 20.8 |
Old Ocean Pipeline, LLC |  | 50% |  |  |  | 1.6 |  |  |  | -- |
Petrochemical & Refined Products Services: |  |  |  |  |  |  |  |  |  |  |
Centennial Pipeline LLC |  | 50% |  |  |  | 59.5 |  |  |  | 60.8 |
Other |  | Various |  |  |  | 3.9 |  |  |  | 4.7 |
Total investments in unconsolidated affiliates |  |  |  |  |  | $ | 2,603.4 |  |  | $ | 2,659.4 |
(1) In March 2018, we acquired the remaining 50% membership interest in our Delaware Processing joint venture. See Note 11 for information regarding this recent acquisition. |
In May 2018, we and Energy Transfer Partners, L.P. (“ETP”) formed Old Ocean Pipeline, LLC to facilitate the resumption of full service on the Old Ocean natural gas pipeline owned by ETP. The 24-inch diameter Old Ocean Pipeline originates in Maypearl, Texas in Ellis County and extends south approximately 240 miles to Sweeny, Texas in Brazoria County. ETP serves as operator of the pipeline. The following table presents our equity in income (loss) of unconsolidated affiliates by business segment for the periods indicated:
|  | For the Three Months Ended September 30, |  |  | For the Nine Months Ended September 30, |
|  | 2018 |  |  | 2017 |  |  | 2018 |  |  | 2017 |
NGL Pipelines & Services |  | $ | 28.3 |  |  | $ | 18.8 |  |  | $ | 87.1 |  |  | $ | 53.3 |
Crude Oil Pipelines & Services |  |  | 83.7 |  |  |  | 95.9 |  |  |  | 265.1 |  |  |  | 266.3 |
Natural Gas Pipelines & Services |  |  | 2.1 |  |  |  | 0.9 |  |  |  | 4.7 |  |  |  | 2.8 |
Petrochemical & Refined Products Services |  |  | (2.1 | ) |  |  | (2.2 | ) |  |  | (6.9 | ) |  |  | (7.2 | )
Total |  | $ | 112.0 |  |  | $ | 113.4 |  |  | $ | 350.0 |  |  | $ | 315.2 |
Summarized Combined Financial Information of Unconsolidated Affiliates Combined results of operations data for the periods indicated for our unconsolidated affiliates are summarized in the following table (all data presented on a 100% basis):
|  | For the Three Months Ended September 30, |  |  | For the Nine Months Ended September 30, |
|  | 2018 |  |  | 2017 |  |  | 2018 |  |  | 2017 |
Income Statement Data: |  |  |  |  |  |  |  |  |  |  |  |
Revenues |  | $ | 439.1 |  |  | $ | 401.6 |  |  | $ | 1,296.4 |  |  | $ | 1,116.7 |
Operating income |  |  | 258.0 |  |  |  | 249.3 |  |  |  | 789.8 |  |  |  | 682.8 |
Net income |  |  | 256.9 |  |  |  | 247.5 |  |  |  | 785.6 |  |  |  | 688.0 |

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- Definition The entire disclosure for equity method investments and joint ventures. Equity method investments are investments that give the investor the ability to exercise significant influence over the operating and financial policies of an investee. Joint ventures are entities owned and operated by a small group of businesses as a separate and specific business or project for the mutual benefit of the members of the group. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 323 -URI http://asc.fasb.org/topic&trid=2196965 + Details
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