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Commitments and Contingencies (Tables)

12 Months Ended

Dec. 31, 2019

Commitments and Contingencies [Abstract]

The following table summarizes our various contractual obligations at December 31, 2019. A description of each type of contractual obligation follows:

	Payment or Settlement due by Period
Contractual Obligations	Total		2020		2021		2022		2023		2024		Thereafter
Scheduled maturities of debt obligations	$	27,878.4	$	1,982.0	$	1,325.0	$	1,400.0	$	1,250.0	$	850.0	$	21,071.4
Estimated cash interest payments	$	26,264.5	$	1,224.7	$	1,154.0	$	1,101.2	$	1,061.1	$	1,023.0	$	20,700.5
Operating lease obligations	$	271.2	$	45.2	$	40.1	$	28.6	$	20.2	$	15.7	$	121.4
Purchase obligations:
Product purchase commitments:
Estimated payment obligations:
Natural gas	$	610.2	$	345.4	$	264.8	$	–	$	–	$	–	$	–
NGLs	$	5,534.7	$	844.0	$	911.1	$	627.5	$	548.1	$	513.5	$	2,090.5
Crude oil	$	14,025.5	$	1,436.9	$	1,677.2	$	1,659.8	$	1,532.1	$	1,536.3	$	6,183.2
Petrochemicals and refined products	$	384.0	$	164.1	$	77.2	$	48.9	$	48.9	$	44.9	$	–
Other	$	19.6	$	7.6	$	4.8	$	2.8	$	2.9	$	1.5	$	–
Service payment commitments	$	335.7	$	66.6	$	59.7	$	57.7	$	43.3	$	14.5	$	93.9
Capital expenditure commitments	$	45.8	$	45.8	$	–	$	–	$	–	$	–	$	–

Operating Leases

The following table presents information regarding operating leases where we are the lessee at December 31, 2019:

Asset Category	ROU Asset Carrying Value (1)		Lease Liability Carrying Value (2)		Weighted- Average Remaining Term	Weighted- Average Discount Rate (3)
Storage and pipeline facilities	$	137.9	$	138.6	16 years		4.3	%
Transportation equipment		49.9		52.4	3 years		3.5	%
Office and warehouse space		22.4		21.0	2 years		3.4	%
Total	$	210.2	$	212.0

(1)	ROU asset amounts are a component of “Other assets” on our consolidated balance sheet.
(2)	At December 31, 2019, lease liabilities of $40.4 million and $171.6 million were included within “Other current liabilities” and “Other liabilities,” respectively.
(3)	The discount rate for each category of assets represents the weighted average of either (i) the implicit rate applicable to the underlying leases (where determinable) or (ii) our incremental borrowing rate adjusted for collateralization (if the implicit rate is not determinable). In general, the discount rates are based on either (i) information available at the lease commencement date or (ii) January 1, 2019 for leases existing at the adoption date for ASC 842.

Consolidated Lease Expense

The following table disaggregates our total operating lease expense for year ended December 31, 2019:

Long-term operating leases:
Fixed lease expense:
Non-cash lease expense (amortization of ROU assets)	$	42.8
Related accretion expense on lease liability balances		9.0
Total fixed lease expense		51.8
Variable lease expense		6.2
Subtotal operating lease expense		58.0
Short-term operating leases		48.6
Total operating lease expense	$	106.6

Schedule of Other Liabilities

The following table summarizes the components of “Other long-term liabilities” as presented on our Consolidated Balance Sheets at the dates indicated:

	December 31,
	2019		2018
Noncurrent portion of AROs (see Note 4)	$	126.9	$	121.4
Deferred revenues – non-current portion (see Note 9)		197.0		210.3
Liquidity Option liability		509.6		390.0
Lease liability – non-current portion		171.6		–
Derivative liabilities		7.3		14.2
Other		20.0		15.7
Total	$	1,032.4	$	751.6