XML 97 R33.htm IDEA: XBRL DOCUMENT
v3.19.3

Revenues (Tables) | 9 Months Ended
--- | ---
Sep. 30, 2019
Revenues [Abstract] |
Revenues by Business Segment and Revenue Type | We classify our revenues into sales of products and midstream services. Product sales relate primarily to our various marketing activities whereas midstream services represent our other integrated businesses (i.e., gathering, processing, transportation, fractionation, storage and terminaling). The following table presents our revenues by business segment, and further by revenue type, for the periods indicated:
|  | For the Three Months Ended September 30, |  |  | For the Nine Months Ended September 30, |
|  | 2019 |  |  | 2018 |  |  | 2019 |  |  | 2018 |
NGL Pipelines & Services: |  |  |  |  |  |  |  |  |  |  |  |
Sales of NGLs and related products |  | $ | 2,624.9 |  |  | $ | 3,898.2 |  |  | $ | 7,955.5 |  |  | $ | 9,324.5 |
Segment midstream services: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Natural gas processing and fractionation |  |  | 279.6 |  |  |  | 397.2 |  |  |  | 837.3 |  |  |  | 982.2 |
Transportation |  |  | 248.2 |  |  |  | 241.8 |  |  |  | 767.4 |  |  |  | 725.5 |
Storage and terminals |  |  | 99.4 |  |  |  | 85.7 |  |  |  | 291.0 |  |  |  | 277.7 |
Total segment midstream services |  |  | 627.2 |  |  |  | 724.7 |  |  |  | 1,895.7 |  |  |  | 1,985.4 |
Total NGL Pipelines & Services |  |  | 3,252.1 |  |  |  | 4,622.9 |  |  |  | 9,851.2 |  |  |  | 11,309.9 |
Crude Oil Pipelines & Services: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Sales of crude oil |  |  | 2,130.0 |  |  |  | 2,209.0 |  |  |  | 6,990.1 |  |  |  | 8,082.9 |
Segment midstream services: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Transportation |  |  | 209.1 |  |  |  | 187.9 |  |  |  | 598.1 |  |  |  | 490.7 |
Storage and terminals |  |  | 139.2 |  |  |  | 98.0 |  |  |  | 364.0 |  |  |  | 273.4 |
Total segment midstream services |  |  | 348.3 |  |  |  | 285.9 |  |  |  | 962.1 |  |  |  | 764.1 |
Total Crude Oil Pipelines & Services |  |  | 2,478.3 |  |  |  | 2,494.9 |  |  |  | 7,952.2 |  |  |  | 8,847.0 |
Natural Gas Pipelines & Services: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Sales of natural gas |  |  | 440.0 |  |  |  | 589.0 |  |  |  | 1,627.1 |  |  |  | 1,681.5 |
Segment midstream services: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Transportation |  |  | 275.5 |  |  |  | 261.2 |  |  |  | 835.2 |  |  |  | 766.3 |
Total segment midstream services |  |  | 275.5 |  |  |  | 261.2 |  |  |  | 835.2 |  |  |  | 766.3 |
Total Natural Gas Pipelines & Services |  |  | 715.5 |  |  |  | 850.2 |  |  |  | 2,462.3 |  |  |  | 2,447.8 |
Petrochemical & Refined Products Services: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Sales of petrochemicals and refined products |  |  | 1,299.0 |  |  |  | 1,408.9 |  |  |  | 3,867.3 |  |  |  | 4,111.6 |
Segment midstream services: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Fractionation and isomerization |  |  | 43.2 |  |  |  | 45.9 |  |  |  | 125.5 |  |  |  | 146.8 |
Transportation, including marine logistics |  |  | 134.4 |  |  |  | 119.2 |  |  |  | 393.2 |  |  |  | 353.0 |
Storage and terminals |  |  | 41.6 |  |  |  | 43.9 |  |  |  | 132.2 |  |  |  | 135.8 |
Total segment midstream services |  |  | 219.2 |  |  |  | 209.0 |  |  |  | 650.9 |  |  |  | 635.6 |
Total Petrochemical & Refined Products Services |  |  | 1,518.2 |  |  |  | 1,617.9 |  |  |  | 4,518.2 |  |  |  | 4,747.2 |
Total consolidated revenues |  | $ | 7,964.1 |  |  | $ | 9,585.9 |  |  | $ | 24,783.9 |  |  | $ | 27,351.9 |
Unbilled Revenue and Deferred Revenue | The following table provides information regarding our contract assets and contract liabilities at September 30, 2019:
Contract Asset | Location |  | Balance |
Unbilled revenue (current amount) | Prepaid and other current assets |  | $ | 223.8 |
Total |  |  | $ | 223.8 |
Contract Liability | Location |  | Balance |
Deferred revenue (current amount) | Other current liabilities |  | $ | 137.4 |
Deferred revenue (noncurrent) | Other long-term liabilities |  |  | 192.2 |
Total |  |  | $ | 329.6 |
The following table presents significant changes in our unbilled revenue and deferred revenue balances during the nine months ended September 30, 2019:
|  | Unbilled Revenue |  |  | Deferred Revenue |
Balance at December 31, 2018 |  | $ | 13.3 |  |  | $ | 291.2 |
Amount included in opening balance transferred to other accounts during period (1) |  |  | (13.3 | ) |  |  | (110.9 | )
Amount recorded during period |  |  | 270.5 |  |  |  | 430.7 |
Amounts recorded during period transferred to other accounts (1) |  |  | (46.7 | ) |  |  | (278.7 | )
Other changes |  |  | – |  |  |  | (2.7 | )
Balance at September 30, 2019 |  | $ | 223.8 |  |  | $ | 329.6 |
(1) | Unbilled revenues are transferred to accounts receivable once we have an unconditional right to consideration from the customer. Deferred revenues are recognized as revenue upon satisfaction of our performance obligation to the customer.
Remaining Performance Obligations | The following table presents estimated fixed future consideration from contracts with customers as of September 30, 2019 that contain minimum volume commitments, deficiency and similar fees, and contract terms exceeding one year.
Period |  | Fixed Consideration |
Three Months Ended December 31, 2019 |  | $ | 945.0 |
One Year Ended December 31, 2020 |  |  | 3,505.7 |
One Year Ended December 31, 2021 |  |  | 3,075.3 |
One Year Ended December 31, 2022 |  |  | 2,636.9 |
One Year Ended December 31, 2023 |  |  | 2,203.9 |
Thereafter |  |  | 10,576.7 |
Total |  | $ | 22,943.5 |

X
- Definition Tabular disclosure of contract balances and changes in contract balances. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 10 -URI http://asc.fasb.org/extlink&oid=118956577&loc=SL49130551-203045 + Details
Name: | us-gaap_ContractWithCustomerAssetAndLiabilityTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of disaggregation of revenue into categories depicting how nature, amount, timing, and uncertainty of revenue and cash flows are affected by economic factor. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 5 -URI http://asc.fasb.org/extlink&oid=118956577&loc=SL49130545-203045 + Details
Name: | us-gaap_DisaggregationOfRevenueTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_RevenueFromContractWithCustomerAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of expected timing for satisfying remaining performance obligation. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 13 -Subparagraph (b)(1) -URI http://asc.fasb.org/extlink&oid=118956577&loc=SL49130556-203045 + Details
Name: | us-gaap_RevenueRemainingPerformanceObligationExpectedTimingOfSatisfactionTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration