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Intangible Assets and Goodwill (Tables) | 12 Months Ended
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Dec. 31, 2021
Intangible Assets and Goodwill [Abstract] |
Intangible Assets by Segment | The following table summarizes our intangible assets by business segment at the dates indicated:
|  | December 31, 2021 |  |  | December 31, 2020 |
|  | Gross Value |  |  | Accumulated Amortization |  |  | Carrying Value |  |  | Gross Value |  |  | Accumulated Amortization |  |  | Carrying Value |
NGL Pipelines & Services: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Customer relationship intangibles |  | $ | 447.8 |  |  | $ | (234.5 | ) |  | $ | 213.3 |  |  | $ | 447.8 |  |  | $ | (221.3 | ) |  | $ | 226.5 |
Contract-based intangibles |  |  | 166.0 |  |  |  | (62.1 | ) |  |  | 103.9 |  |  |  | 162.6 |  |  |  | (55.0 | ) |  |  | 107.6 |
Segment total |  |  | 613.8 |  |  |  | (296.6 | ) |  |  | 317.2 |  |  |  | 610.4 |  |  |  | (276.3 | ) |  |  | 334.1 |
Crude Oil Pipelines & Services: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Customer relationship intangibles |  |  | 2,195.0 |  |  |  | (355.5 | ) |  |  | 1,839.5 |  |  |  | 2,195.0 |  |  |  | (291.6 | ) |  |  | 1,903.4 |
Contract-based intangibles |  |  | 283.1 |  |  |  | (262.6 | ) |  |  | 20.5 |  |  |  | 283.1 |  |  |  | (249.9 | ) |  |  | 33.2 |
Segment total |  |  | 2,478.1 |  |  |  | (618.1 | ) |  |  | 1,860.0 |  |  |  | 2,478.1 |  |  |  | (541.5 | ) |  |  | 1,936.6 |
Natural Gas Pipelines & Services: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Customer relationship intangibles |  |  | 1,350.3 |  |  |  | (550.3 | ) |  |  | 800.0 |  |  |  | 1,350.3 |  |  |  | (512.2 | ) |  |  | 838.1 |
Contract-based intangibles |  |  | 231.1 |  |  |  | (182.4 | ) |  |  | 48.7 |  |  |  | 470.7 |  |  |  | (403.8 | ) |  |  | 66.9 |
Segment total |  |  | 1,581.4 |  |  |  | (732.7 | ) |  |  | 848.7 |  |  |  | 1,821.0 |  |  |  | (916.0 | ) |  |  | 905.0 |
Petrochemical & Refined Products Services: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Customer relationship intangibles |  |  | 181.4 |  |  |  | (75.6 | ) |  |  | 105.8 |  |  |  | 181.4 |  |  |  | (68.3 | ) |  |  | 113.1 |
Contract-based intangibles |  |  | 44.9 |  |  |  | (26.0 | ) |  |  | 18.9 |  |  |  | 44.9 |  |  |  | (24.6 | ) |  |  | 20.3 |
Segment total |  |  | 226.3 |  |  |  | (101.6 | ) |  |  | 124.7 |  |  |  | 226.3 |  |  |  | (92.9 | ) |  |  | 133.4 |
Total intangible assets |  | $ | 4,899.6 |  |  | $ | (1,749.0 | ) |  | $ | 3,150.6 |  |  | $ | 5,135.8 |  |  | $ | (1,826.7 | ) |  | $ | 3,309.1 |
Amortization Expense of Intangible Assets by Segment | The following table presents the amortization expense of our intangible assets by business segment for the years indicated:
|  | For the Year Ended December 31, |
|  | 2021 |  |  | 2020 |  |  | 2019 |
NGL Pipelines & Services |  | $ | 24.3 |  |  | $ | 25.2 |  |  | $ | 31.9 |
Crude Oil Pipelines & Services |  |  | 76.6 |  |  |  | 71.5 |  |  |  | 92.7 |
Natural Gas Pipelines & Services |  |  | 43.1 |  |  |  | 38.8 |  |  |  | 41.4 |
Petrochemical & Refined Products Services |  |  | 6.9 |  |  |  | 7.7 |  |  |  | 8.7 |
Total |  | $ | 150.9 |  |  | $ | 143.2 |  |  | $ | 174.7 |
Forecasted Amortization Expense | The following table presents our forecast of amortization expense associated with existing intangible assets for the years indicated:
2022 |  |  | 2023 |  |  | 2024 |  |  | 2025 |  |  | 2026 |
$ | 169.3 |  |  | $ | 173.5 |  |  | $ | 177.6 |  |  | $ | 174.1 |  |  | $ | 166.6 |
Significant Acquired Intangible Assets | At December 31, 2021, the carrying value of our portfolio of customer relationship intangible assets was $2.96 billion, the principal components of which were as follows:
a |  | Weighted Average Remaining Amortization Period |  | December 31, 2021
Gross Value |  | Accumulated Amortization |  | Carrying Value
Basin-specific customer relationships: |  |  |  |  |  |  |  |  |  |  |
EFS Midstream (acquired 2015) |  | 20.4 years |  | $ | 1,409.8 |  | $ | (222.9) |  | $ | 1,186.9
State Line and Fairplay (acquired 2010) |  | 25.2 years |  |  | 895.0 |  |  | (251.1) |  |  | 643.9
San Juan Gathering (acquired 2004) |  | 17.8 years |  |  | 331.3 |  |  | (253.2) |  |  | 78.1
General customer relationships: |  |  |  |  |  |  |  |  |  |  |
Oiltanking (acquired 2014) |  | 22.0 years |  |  | 1,192.5 |  |  | (203.8) |  |  | 988.7
At December 31, 2021, the carrying value of our portfolio of contract-based intangible assets was $192.0 million, the principal components of which were as follows:
a |  | Weighted Average Remaining Amortization Period |  | December 31, 2021
Gross Value |  | Accumulated Amortization |  | Carrying Value
Oiltanking customer contracts |  | 2.5 years |  | $ | 293.3 |  | $ | (275.2) |  | $ | 18.1
Jonah natural gas gathering agreements |  | 20.0 years |  |  | 224.4 |  |  | (179.4) |  |  | 45.0
Delaware Basin natural gas processing contracts |  | 5.0 years |  |  | 82.6 |  |  | (32.3) |  |  | 50.3
Schedule of Goodwill | The following table presents changes in the carrying amount of goodwill by business segment during the periods indicated:
|  | NGL Pipelines & Services |  |  | Crude Oil Pipelines & Services |  |  | Natural Gas Pipelines & Services |  |  | Petrochemical & Refined Products Services |  |  | Consolidated Total |
Balance at December 31, 2019 |  | $ | 2,651.7 |  |  | $ | 1,841.0 |  |  | $ | 296.3 |  |  | $ | 956.2 |  |  | $ | 5,745.2 |
Impairment of goodwill |  |  | – |  |  |  | – |  |  |  | (296.3 | ) |  |  | – |  |  |  | (296.3 | )
Balance at December 31, 2020 |  |  | 2,651.7 |  |  |  | 1,841.0 |  |  |  | – |  |  |  | 956.2 |  |  |  | 5,448.9 |
Balance at December 31, 2021 |  | $ | 2,651.7 |  |  | $ | 1,841.0 |  |  | $ | – |  |  | $ | 956.2 |  |  | $ | 5,448.9 |

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- Definition Tabular disclosure of finite-lived and indefinite-lived intangible assets acquired as part of a business combination. + References No definition available. + Details
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