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Intangible Assets and Goodwill | 3 Months Ended
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Mar. 31, 2024
Intangible Assets and Goodwill [Abstract] |
Intangible Assets and Goodwill | Note 6. Intangible Assets and Goodwill Identifiable Intangible Assets The following table summarizes our intangible assets by business segment at the dates indicated:
|  | March 31, 2024 |  |  | December 31, 2023 |
|  | Gross Value |  |  | Accumulated Amortization |  |  | Carrying Value |  |  | Gross Value |  |  | Accumulated Amortization |  |  | Carrying Value |
NGL Pipelines & Services: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Customer relationship intangibles |  | $ | 449 |  |  | $ | (267 | ) |  | $ | 182 |  |  | $ | 449 |  |  | $ | (263 | ) |  | $ | 186 |
Contract-based intangibles |  |  | 752 |  |  |  | (116 | ) |  |  | 636 |  |  |  | 752 |  |  |  | (110 | ) |  |  | 642 |
Segment total |  |  | 1,201 |  |  |  | (383 | ) |  |  | 818 |  |  |  | 1,201 |  |  |  | (373 | ) |  |  | 828 |
Crude Oil Pipelines & Services: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Customer relationship intangibles |  |  | 2,195 |  |  |  | (555 | ) |  |  | 1,640 |  |  |  | 2,195 |  |  |  | (530 | ) |  |  | 1,665 |
Contract-based intangibles |  |  | 283 |  |  |  | (275 | ) |  |  | 8 |  |  |  | 283 |  |  |  | (275 | ) |  |  | 8 |
Segment total |  |  | 2,478 |  |  |  | (830 | ) |  |  | 1,648 |  |  |  | 2,478 |  |  |  | (805 | ) |  |  | 1,673 |
Natural Gas Pipelines & Services: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Customer relationship intangibles |  |  | 1,351 |  |  |  | (634 | ) |  |  | 717 |  |  |  | 1,351 |  |  |  | (625 | ) |  |  | 726 |
Contract-based intangibles |  |  | 641 |  |  |  | (213 | ) |  |  | 428 |  |  |  | 641 |  |  |  | (209 | ) |  |  | 432 |
Segment total |  |  | 1,992 |  |  |  | (847 | ) |  |  | 1,145 |  |  |  | 1,992 |  |  |  | (834 | ) |  |  | 1,158 |
Petrochemical & Refined Products Services: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Customer relationship intangibles |  |  | 181 |  |  |  | (87 | ) |  |  | 94 |  |  |  | 181 |  |  |  | (86 | ) |  |  | 95 |
Contract-based intangibles |  |  | 45 |  |  |  | (30 | ) |  |  | 15 |  |  |  | 45 |  |  |  | (29 | ) |  |  | 16 |
Segment total |  |  | 226 |  |  |  | (117 | ) |  |  | 109 |  |  |  | 226 |  |  |  | (115 | ) |  |  | 111 |
Total intangible assets |  | $ | 5,897 |  |  | $ | (2,177 | ) |  | $ | 3,720 |  |  | $ | 5,897 |  |  | $ | (2,127 | ) |  | $ | 3,770 |
The following table presents the amortization expense of our intangible assets by business segment for the periods indicated:
|  | For the Three Months Ended March 31, |
|  | 2024 |  |  | 2023 |
NGL Pipelines & Services |  | $ | 10 |  |  | $ | 9 |
Crude Oil Pipelines & Services |  |  | 25 |  |  |  | 23 |
Natural Gas Pipelines & Services |  |  | 13 |  |  |  | 12 |
Petrochemical & Refined Products Services |  |  | 2 |  |  |  | 2 |
Total |  | $ | 50 |  |  | $ | 46 |
The following table presents our forecast of amortization expense associated with existing intangible assets for the periods indicated:
Remainder of 2024 |  |  | 2025 |  |  | 2026 |  |  | 2027 |  |  | 2028 |
$ | 160 |  |  | $ | 208 |  |  | $ | 203 |  |  | $ | 185 |  |  | $ | 180 |
Goodwill Goodwill represents the excess of the purchase price of an acquired business over the amounts assigned to assets acquired and liabilities assumed in the transaction. There has been no change in our goodwill amounts since those reported in our 2023 Form 10-K.

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- Definition The entire disclosure for goodwill and intangible assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 350 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//350/tableOfContent + Details
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