XML 37 R21.htm IDEA: XBRL DOCUMENT
v3.19.3

Related Party Transactions | 9 Months Ended
--- | ---
Sep. 30, 2019
Related Party Transactions [Abstract] |
Related Party Transactions | Note 14. Related Party Transactions The following table summarizes our related party transactions for the periods indicated:
|  | For the Three Months Ended September 30, |  |  | For the Nine Months Ended September 30, |
|  | 2019 |  |  | 2018 |  |  | 2019 |  |  | 2018 |
Revenues – related parties: |  |  |  |  |  |  |  |  |  |  |  |
Unconsolidated affiliates |  | $ | 15.6 |  |  | $ | 14.2 |  |  | $ | 53.7 |  |  | $ | 94.5 |
Costs and expenses – related parties: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
EPCO and its privately held affiliates |  | $ | 297.8 |  |  | $ | 285.9 |  |  | $ | 837.9 |  |  | $ | 802.8 |
Unconsolidated affiliates |  |  | 94.7 |  |  |  | 110.0 |  |  |  | 313.3 |  |  |  | 351.4 |
Total |  | $ | 392.5 |  |  | $ | 395.9 |  |  | $ | 1,151.2 |  |  | $ | 1,154.2 |
The following table summarizes our related party accounts receivable and accounts payable balances at the dates indicated:
|  | September 30, 2019 |  |  | December 31, 2018 |
Accounts receivable - related parties: |  |  |  |  |  |
Unconsolidated affiliates |  | $ | 2.0 |  |  | $ | 3.5 |
Accounts payable - related parties: |  |  |  |  |  |  |  |
EPCO and its privately held affiliates |  | $ | 106.6 |  |  | $ | 116.3 |
Unconsolidated affiliates |  |  | 18.9 |  |  |  | 23.9 |
Total |  | $ | 125.5 |  |  | $ | 140.2 |
We believe that the terms and provisions of our related party agreements are fair to us; however, such agreements and transactions may not be as favorable to us as we could have obtained from unaffiliated third parties. Relationship with EPCO and Affiliates We have an extensive and ongoing relationship with EPCO and its privately held affiliates (including Enterprise GP, our general partner), which are not a part of our consolidated group of companies. At September 30, 2019, EPCO and its privately held affiliates (including Dan Duncan LLC and certain Duncan family trusts) beneficially owned the following limited partner interests in us:
Total Number of Units | Percentage of Total Units Outstanding
698,313,137 | 31.9%
Of the total number of units held by EPCO and its privately held affiliates, 108,222,618 have been pledged as security under the credit facilities of EPCO and its privately held affiliates at September 30, 2019. These credit facilities contain customary and other events of default, including defaults by us and other affiliates of EPCO. An event of default, followed by a foreclosure on the pledged collateral, could ultimately result in a change in ownership of these units and affect the market price of EPD’s common units. We and Enterprise GP are both separate legal entities apart from each other and apart from EPCO and its other affiliates, with assets and liabilities that are also separate from those of EPCO and its other affiliates. EPCO and its privately held affiliates depend on the cash distributions they receive from us and other investments to fund their other activities and to meet their debt obligations. During the nine months ended September 30, 2019 and 2018, we paid EPCO and its privately held affiliates cash distributions totaling $893.1 million and $867.4 million, respectively. From time-to-time, EPCO and its privately held affiliates elect to purchase additional common units under EPD’s DRIP and ATM program. During the nine months ended September 30, 2019, privately held affiliates of EPCO reinvested $21.6 million through the DRIP. See Note 8 for additional information regarding the DRIP. We have no employees. All of our operating functions and general and administrative support services are provided by employees of EPCO pursuant to the ASA or by other service providers. The following table presents our related party costs and expenses attributable to the ASA with EPCO for the periods indicated:
|  | For the Three Months Ended September 30, |  |  | For the Nine Months Ended September 30, |
|  | 2019 |  |  | 2018 |  |  | 2019 |  |  | 2018 |
Operating costs and expenses |  | $ | 259.3 |  |  | $ | 246.6 |  |  | $ | 732.0 |  |  | $ | 697.6 |
General and administrative expenses |  |  | 34.2 |  |  |  | 35.0 |  |  |  | 92.9 |  |  |  | 92.6 |
Total costs and expenses |  | $ | 293.5 |  |  | $ | 281.6 |  |  | $ | 824.9 |  |  | $ | 790.2 |
We lease office space from privately held affiliates of EPCO. The rental rates in these lease agreements approximate market rates. For the three and nine months ended September 30, 2019, we recognized $3.8 million and $11.1 million, respectively, of related party operating lease expense in connection with these office space leases. For the three and nine months ended September 30, 2018, we recognized $3.8 million and $10.7 million, respectively, of related party operating lease expense for these leases.

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

X
- Definition The entire disclosure for related party transactions. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 850 -URI http://asc.fasb.org/topic&trid=2122745 + Details
Name: | us-gaap_RelatedPartyTransactionsDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration