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UNAUDITED CONDENSED STATEMENTS OF CONSOLIDATED CASH FLOWS - USD ($)
$ in Millions
9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Operating activities:    
Net income $ 3,561.7 $ 2,933.3
Reconciliation of net income to net cash flows provided by operating activities:    
Depreciation, amortization and accretion 1,456.7 1,330.8
Asset impairment and related charges 51.3 21.4
Equity in income of unconsolidated affiliates (431.3) (350.0)
Distributions received on earnings from unconsolidated affiliates 431.2 345.7
Net gains attributable to asset sales (2.6) (8.1)
Deferred income tax expense 10.9 9.3
Change in fair market value of derivative instruments 2.0 254.9
Change in fair market value of Liquidity Option Agreement 123.1 34.9
Gain on step acquisition of unconsolidated affiliate 0.0 (39.4)
Net effect of changes in operating accounts (409.0) (261.9)
Other operating activities 32.2 4.4
Net cash flows provided by operating activities 4,826.2 4,275.3
Investing activities:    
Capital expenditures (3,302.1) (3,004.2)
Cash used for business combination 0.0 (150.6)
Investments in unconsolidated affiliates (100.1) (95.1)
Distributions received for return of capital from unconsolidated affiliates 53.9 47.0
Proceeds from asset sales 16.8 24.1
Other investing activities (41.3) (4.0)
Cash used in investing activities (3,372.8) (3,182.8)
Financing activities:    
Borrowings under debt agreements 44,629.6 67,086.3
Repayments of debt (42,855.3) (65,742.1)
Debt issuance costs (26.3) (25.2)
Cash distributions paid to limited partners (2,871.1) (2,782.9)
Cash payments made in connection with distribution equivalent rights (16.4) (13.2)
Cash distributions paid to noncontrolling interests (69.7) (50.9)
Cash contributions from noncontrolling interests 590.8 222.0
Net cash proceeds from the issuance of common units 82.2 449.4
Repurchase of common units under 2019 Buyback Program (81.1) 0.0
Other financing activities (38.4) (27.1)
Cash provided by (used in) financing activities (655.7) (883.7)
Net change in cash and cash equivalents, including restricted cash 797.7 208.8
Cash and cash equivalents, including restricted cash, at beginning of period 410.1 70.3
Cash and cash equivalents, including restricted cash, at end of period $ 1,207.8 $ 279.1